Nigerian singer May D has claimed that he used to be on the same level as his colleagues Wizkid and Davido.
According to May D, he, Wizkid, and Davido were the three biggest artistes in Nigeria years ago.

He claimed that he was even bigger than the duo at one point.

The singer featured in a recent episode of The Honest Bunch podcast.

He said: “Then it was Wizkid, David, and I. I was even like bigger. Wetin be ‘Holla at Your Boy’ compared to ‘Soundtrack?'”

Recall that May D has previously claimed that his Grammy-winning colleague, Wizkid, wouldn’t have been on his level if he hadn’t fallen out with his former record label, Square Records.

May D rose to fame after signing with Square Records in 2011. In August 2012, it was officially announced that May D was no longer on the label. The singer believes that his fallout with P-Square significantly affected his career.

The naira continued its decline against the dollar at the official foreign exchange market on Monday.

FMDQ data showed that the naira weakened to N1,548.89 against the dollar on Monday from N1,543.03 exchanged last week Friday.

This indicated that the naira fell by N5.86 compared to N1,543.03 traded at the close of last Friday.

Similarly, on the black market, the naira closed at N1,667 per dollar on Monday from N1,665.

However, the naira had been fairly stable between N1,545 and N1,660 per dollar at the official and parallel foreign exchange markets, respectively.

Last week, the Central Bank of Nigeria unveiled the Non-Resident Nigerian Ordinary Account, NRNOA, and the Non-Resident Nigerian Investment Account, NRNIA, to boost diaspora remittances.

Information, communication, and technology firms, including telecommunications companies in Nigeria, owed Deposit Money Banks N1.69tn as of September 2024 amid telcos’ calls for a hike in the tariff payable by subscribers for data and voice calls.

Figures obtained from the Central Bank of Nigeria’s quarterly statistical bulletin indicate that the indebtedness of the telcos and the other ICT firms represents a year-on-year decrease of N68.04bn, or 3.9 per cent, compared to the N1.77tn owed in September 2023.

The decline reflects the impact of the CBN’s repeated interest rate hikes, which has tightened monetary conditions and discouraged borrowing within the sector.

Month-on-month, however, there was a slight increase of N31.61bn, or 1.9 per cent, from the N1.66tn recorded in August 2024.

The year-on-year analysis shows that credit to the ICT sector experienced mixed trends throughout 2024.

In January, credit stood at N2.47tn, marking a significant increase of N1.23tn, or 99.3 per cent, compared to N1.24tn in January 2023.

However, by February, credit had declined to N2.35tn, though it still represented an 88.4 per cent increase year-on-year, with a difference of N1.10tn compared to February 2023.

By March, the pace of borrowing slowed further, with credit falling to N1.67tn. This represented a year-on-year increase of N385.24bn, or 30 per cent, compared to March 2023.

The trend continued into April, where credit remained relatively stable at N1.66tn, up N241.90bn, or 17 per cent, year-on-year.

In May, credit rose slightly to N1.68tn, reflecting an N308.38bn, or 22.4 per cent, an increase compared to the same period in 2023.

From June, year-on-year figures began to show a decline. Credit to the sector dropped to N1.64tn in June, representing a decrease of N81.59bn, or 4.7 per cent, compared to June 2023.

July saw a further decline to N1.69tn, down N48.93bn, or 2.8 per cent, from July 2023.

In August, the decline deepened, with credit falling to N1.67tn, a reduction of N107.37bn, or six per cent, compared to the N1.77tn recorded in August 2023.

By September, the year-on-year decrease of N68.04bn drew attention to the cautious borrowing stance adopted by firms in response to persistent economic uncertainties and high interest rates.

The decline in credit to the ICT sector throughout 2024 can be attributed to the CBN’s tight monetary policies, which have raised the cost of borrowing.

The apex bank has consistently hiked interest rates in a bid to curb inflation, with its monetary policy rate standing at a record high for most of the year.

CBN Governor Yemi Cardoso, who assumed office in September 2023, has overseen six interest rate hikes in 2024.

In February, the Monetary Policy Rate increased by 400 basis points, moving from 18.75 per cent to 22.75 per cent, the largest single hike of the year.

This was followed by another increase in March to 24.75 per cent. In May, the rate was raised again to 26.25 per cent, and by July, it reached 26.75 per cent.

The tightening cycle continued with an increase to 27.25 per cent in September, and the most recent hike in November brought the rate to 27.50 per cent.

These cumulative increases, totalling 875 basis points, are part of efforts to combat inflation and stabilise the economy.

This has had a direct impact on the borrowing capacity of firms, particularly those in capital-intensive sectors such as ICT.

Also, macroeconomic challenges, including exchange rate volatility and rising operational costs, have further constrained borrowing activity.

Despite these challenges, the ICT sector remains a critical driver of Nigeria’s economy, contributing significantly to Gross Domestic Product growth and employment.

Activities in the ICT sector contributed 16.35 per cent to Nigeria’s real GDP in Q3 2024, a decline from the 19.78 per cent it added in the previous quarter.

The National Bureau of Statistics disclosed this in the Q3 2024 GDP report.

The contribution was, however, higher than the 15.97 per cent contributed by the sector in the same period of last year.

According to the NBS, the ICT sector comprises the four activities of Telecommunications and Information Services: Publishing, Motion Picture, Sound Recording, and Music Production, as well as Broadcasting.

In the third quarter of 2024, the sector recorded a growth rate of 5.92 per cent in real terms, year-on-year.

This was driven largely by activities in the telecommunications sub-sector, which contributed 13.94 per cent to the GDP in the real term.

According to NBS, the telecom industry was the third-largest contributor to the real GDP in Q3 2024, coming behind only crop production and trade industries, contributing 26.51 per cent and 14.78 per cent, respectively.

The telecom industry, which is dominated by mobile network operators including MTN, Globacom, Airtel, 9mobile, and Internet Service Providers, is also driving a lot of activities in every other sector of the economy.

The closest sub-sector to telecoms in the ICT sector in terms of contribution was Broadcasting, which added 1.37 per cent.

The NBS data further revealed that the ICT sector contributed 11.30 per cent to the total Nominal GDP in the third quarter of 2024, lower than the rate of 11.57 per cent recorded in the same quarter of 2023 and lower than the 14.19 per cent it contributed in the preceding quarter.

In nominal terms, in the third quarter of 2024, the sector growth was recorded at 14.51 per cent (year-on-year), a 25.75 percentage points decrease from the rate of 40.27 per cent recorded in the same quarter of 2023 and 2.65 percentage points higher than the rate recorded in the preceding quarter.

Despite being a major contributor to the country’s GDP, the Nigerian telecommunications sector recorded an 87 per cent decline in foreign investments for the third quarter of 2024, marking a significant downtrend from the previous two quarters of the year.

The NBS data for capital importation showed that the sector attracted only $14.4m in capital importation in Q3, a sharp decline from the $113.42m investments recorded in Q2.

Year-on-year, the Q3 2024 capital importation for the telecom sector also represents a 77 per cent decline compared to the $64.05m recorded in the same period last year.

Despite the decline in the third quarter, the telecom sector has had better foreign investments this year than in previous years.

The NBS data showed that the sector attracted a $191.5m capital inflow in the first quarter of this year, marking a significant 769 per cent increase compared with $22.05m received in Q1 2023.

The investments recorded in the first quarter alone surpassed the total investments recorded by the sector in the full year 2023, which stood at $134.75m.

This came after years of consistent decline in investments, even with a gaping infrastructure gap requiring billions of investments to bridge.

In Q2 2024, FDIs in the sector stood at $113.4m. While this is lower than the inflow recorded in the preceding quarter, it represents a 339 per cent increase over the $25.81m capital inflow recorded in the same period last year.

Between January and September 2024, MTN Nigeria’s core capital expenditure dropped 27.79 per cent to N217.64bn, while Airtel’s capex fell 36.59 per cent to $149m.

This investment decline is tied to a N514.93bn loss between January and September 2024 for MTNN and a 46.9 per cent decline to $755m in Airtel Nigeria’s revenue in the period.

To adjust to these harsh economic realities, telcos renewed their push for tariff hikes this year.

According to the Association of Licensed Telecom Operators of Nigeria and the Association of Telecommunication Companies of Nigeria, telecom operators have advocated for higher prices for the last 11 years.

The telcos stressed the need for cost-reflective tariffs in the face of adverse economic headwinds like high inflation of 34.6 per cent in November 2024 and losses resulting from foreign exchange fluctuations.

However, telecommunications companies in Nigeria were mandated to increase their investments in network infrastructure following the approval of a tariff hike after 11 years of lobbying.

This follows an assertion by Bosun Tijani, the minister of communications, innovation, and digital economy, that tariff hikes will happen in the interests of the industry’s sustainability. “Tariff will go up,” he said.

The condition of this increase has been tied to a commitment by telcos to increase investments in the sector.

New Super Eagles coach Eric Chelle has expressed his desire to lead Nigeria to the ‘pinnacle of world football’ starting with the ticket to the 2026 World Cup as he takes the reign of the three-time African champions, PUNCH Sports Extra reports.

Chelle was unveiled on Monday at a brief ceremony at the Moshood Abiola National Stadium in Abuja by the Nigeria Football Federation, one week after his announcement as the 37th coach of the Super Eagles.

He was handed a two-year deal with an option to extend if he gets the 2026 FIFA World Cup ticket.

Since his appointment last week, the NFF has constantly hammered the coach’s task of leading Nigeria to the tournament which will be played in the USA, Canada and Mexico despite the precarious situation of the Eagles in the qualifying series.

After four rounds of matches in the series, Nigeria are fifth in Group C with just three points having only drawn three and lost one.

To avert the danger of missing out on a consecutive FIFA World Cup, the Eagles must win all their six remaining matches in the group or even hope for favourable results in other ties – a task Chelle fronted at his unveiling.

Asked if he would take responsibility at the end of the qualifying campaign, the ex-Mali coach said, “If you want to be a great coach, you need to take some risks, you need to make some sacrifices.

“I want to be in the history. The first thing, I need to talk to the players. I will be a big brother. It is my prayer that we are going to the World Cup.

“I want to thank my agent, the NFF, the NSC and indeed all Nigerians for this big opportunity. Coaching the Super Eagles of Nigeria is an amazing job; I do not take this appointment for granted. I am elated and will do my utmost best.”

For most of the reactions that have trailed his appointment, the rallying point was his enterprising and attacking style with the Mali national team at the AFCON, which he emphasised he would be bringing to Nigeria.

“Football is about scoring goals, so I favour an attacking style. I know the expectations of Nigerians and I will settle down and work diligently with assistants towards the goal of qualifying the Super Eagles for the 2026 FIFA World Cup.”

The 47-year-old also relished his long-time dream of getting the Super Eagles job, having been a fan of the Nigerian national team in his boyhood.

“Nigeria’s team is more than a team. When I was young, this was my favourite team. I owned a shirt; I watched all the games at the World Cup in France. I was in Marseille and it was my team.

“From this very moment, I am already hard at work. My goal is clear: to restore the Super Eagles to the pinnacle of world football, where they truly belong. This will require hard work, discipline, and a strategy that is both ambitious and realistic. I will rely on the exceptional talent of our players, whether they play at home or abroad, and build a team that reflects the unity, strength, and excellence of Nigeria,” the coach added in a social media post.

Chelle, who took Mali’s Aiglons within breathing distance of the 2023 Africa Cup of Nations semi-finals, left his job at top Algerian side MC Oran – 1989 African Champions’ Cup finalists – to team up with the Super Eagles.

The loading cost of Premium Motor Spirit (petrol) and other refined petroleum products at the depots increased on Monday.

The PUNCH gathered that marketers raised petrol and diesel prices at depots by N43 or 4.74 per cent due to the rising crude oil prices.

Recall that the cost of Brent, the global benchmark for crude, reached $79.76 per barrel on Sunday.

This current situation indicates that filling stations nationwide may adjust their pump prices to reflect the higher costs of refined products.

Data obtained by our correspondent while analysing petrol price movements at loading depots on Monday showed that Swift depot increased its loading price to N950 per litre from N907 last Friday.

Wosbab Depot increased its price to N950 from N909, while Sahara Depot made a similar change to N950 from the N910 it sold a litre of petrol last Friday.

Also, a private depot, Shellplux, increased its loading costs to N960 from N908. Chipet Depot asked retailers to pay N960 per litre to receive products. It sold at N908 per litre last week Friday.

Nipco Depot increased its price by N38 from N912 to N950 while the Matrix Warri Depot increased its cost from N925 per litre to N945.

Our correspondent also gathered that marketers who picked products from the Dangote refinery and resell to other retailers increased their costs to N923 per litre despite picking products from the refinery at N899 per litre.

For diesel, some loading depot prices including Stockgap depot increased its price from N1,080 to N1,150. Ibeto Depot approved an increase from N1,050 to N1,150 per litre. Sahara Depot sold its product at N1,150 from N1,045 last week.

Nipco Depot increased its price to N1,150 from N1,120 while Optima Depot approved a N72 increase to N1,120 per litre from N1,048.

The average increase in depot prices for PMS stands at approximately 7-10 per cent while AGO prices have surged by 5-10 per cent, depending on the depot and location.

Reacting in an earlier interview, an oil and gas expert, Olatide Jeremiah, said depots are poised to increase the loading price of refined petroleum products.

Jeremiah, who is the Chief Executive Officer of petroleumprice.ng, said, “It implies that there is a possibility of increased fuel prices, particularly diesel prices.

“As of Friday, when Brent crude neared $80, prices selectively increased in some depots in Lagos, and on Monday, prices might be jacked up by importers because a large chunk of oil marketers import petroleum products and Brent crude is a major determining factor in the refining process.”

Another marketer, Bayo Adelaja said, “Depot rates have escalated sharply, and this is directly affecting pump prices. Consumers should expect further fluctuations in the coming weeks,” he noted.

With depot rates showing no signs of stabilising, the coming weeks may bring further adjustments, emphasising the need for long-term strategies to mitigate the impact on consumers and the economy.

The Kano State command of the Economic and Financial Crimes Commission (EFCC) has arrested five officials from the Katsina Internal Revenue Service in connection with an alleged fraud amounting to ₦1.3 billion.

The individuals, identified as Rabiu Abdullahi, Sanusi Mohammed Yaro, Ibrahim M. Kofar Soro, Ibrahim Aliyu, and Nura Lawal Kofar Sauri, were taken into custody last Saturday, January 11.

The spokesperson for the anti-corruption agency, Dele Oyewale, confirmed their arrest in Abuja on Monday, specifying that the total amount allegedly misappropriated by the suspects is ₦1,294,337,676.53.

According to Oyewale, the arrests were made following a petition from the Katsina state government, which accused the officials of colluding to misappropriate the funds.

He noted that this amount was intended for the state government, having been sourced from the World Health Organization (WHO), Médecins Sans Frontières, and the Alliance for International Medical Action (ALIMA).

He explained, “Preliminary investigation by the commission showed that Rabiu Abdullahi, a former Director of Collections of the Board and current Permanent Secretary of the Board authorized the opening of a bank account in the name of ‘BOIRS’ at Sterling Bank where he allegedly designated Sanusi Mohammed Yaro, Director of Revenue Account and Ibrahim M. Kofar Soro as sole signatories to the account.

“Subsequently, the account became the primary channel through which all the funds were allegedly funneled to the main beneficiary NADIKKO General Suppliers, a company owned and controlled by Nura Lawal Kofar Sauri, an Assistant Director of Career Skills/Staff Welfare of the Board.

“Investigation further revealed that Nura Lawal and his company ”NADIKKO” became the principal conduits used to launder the stolen funds. These laundered funds were traced to the various bank accounts of the suspects.”

The EFCC spokesman said the suspects had been detained at the Kano Zonal Command of the commission, adding that they would be charged to court upon conclusion of investigations.

The Federal High Court in Abuja has adjourned the ₦300 million fundamental rights enforcement suit filed by singer Darlington Achakpo, popularly known as Speed Darlington, against the Inspector-General of Police, Kayode Egbetokun, to January 27 for hearing.

The adjournment followed a request by CSP Audu Garba, counsel for the IGP, seeking additional time to review a further affidavit served by Speed Darlington’s lawyer, Abubakar Marshal, in court.

During Monday’s proceedings, Marshal informed the court that the session was set to hear the substantive application for the enforcement of his client’s fundamental rights. He noted that the police had filed their counter-affidavit on Friday, prompting the filing of a further affidavit in response.

Garba acknowledged the submission of the counter-affidavit but stated he had not yet received the further affidavit. When Justice Musa Liman inquired about the timing of the filing, Marshal confirmed, “It was filed this morning, my lord.” With the court’s permission, Marshal served Garba a copy of the document in court.

However, when Marshal attempted to proceed with the application, Garba objected, requesting additional time to review the new affidavit for any potential new legal or factual issues requiring a response. Justice Liman subsequently adjourned the matter to January 27 for the adoption of arguments.

Speed Darlington’s ₦300 million suit against the IGP challenges his alleged unlawful detention. The case originated from a December 23, 2024, court order directing the police to charge him or release him within 48 hours.

Previously, the Federal High Court instructed the Nigerian police to immediately release Darlington pending the hearing of the substantive matter. The court also directed that Abubakar Marshal, Esq., act as surety for Darlington, also known as Akpi.

Darlington, aged 39, was arrested in Lagos on allegations of defamation and cyberstalking related to his comments about Burna Boy. He was later granted bail on October 8, 2024.

At the resumed hearing, Marshal reiterated that the session was intended to address the motion to enforce Darlington’s rights. Although Garba initially claimed he had not been served the necessary documents, the court confirmed service.

Marshal also requested the court to direct the police to release his client on bail. However, Garba opposed this request, citing an ongoing criminal charge and alleging that Darlington had jumped bail. He further stated that the police’s compliance with the court’s previous order was affected by the timing during the Christmas holiday.

Darlington’s suit seeks damages for alleged unlawful detention and requests an order for his immediate release or presentation before the court. His legal team also claims he was subjected to torture and inhumane treatment during his detention.

A Magistrate Court in Wuse, Abuja, has ordered the remand of two siblings, Enenche Enenche and Alexander Enenche, along with Pastor Abraham Daniel, at the Keffi Prison in Nasarawa State.

Enenche Enenche and Alexander Enenche are brothers of Pastor Paul Enenche, the senior pastor of the Dunamis International Gospel Church, while Pastor Abraham Daniel is a former pastor at the same church.

The three individuals were reportedly transferred to the Keffi Custodial Centre of the Nigerian Correctional Service (NCoS) on Monday evening following a remand order obtained by the Nigerian Police Force from the Magistrate Court in Wuse Zone 6, Abuja.

SaharaReporters learned that the two brothers and Pastor Abraham Daniel were held in police custody after responding to a police invitation. They remained in custody until their transfer to Keffi Prison on Monday evening.

On January 8, the Intelligence Department of the Nigerian Police released the brothers on bail. The two were initially arrested on January 7, 2025, alongside Pastor Abraham Daniel, on allegations of cyberbullying and criminal defamation against Pastor Paul Enenche. They were released the next day following an agreement to settle the matter amicably.

As part of the agreement, Alex Enenche and Pastor Abraham Daniel were instructed to report to the Force Intelligence Department (FID) on Friday, January 10, and Monday, January 13, 2025.

On Tuesday, the FID detained both Alexander and Abraham Daniel after they reported to the department in response to a police invitation.

According to a source, the three individuals were held in custody until Monday evening, when the police secured a remand order from a Magistrate Court in Wuse Zone 6, Abuja.

“Upon honouring the Police invitation, Mr. Enenche Enenche, Alexander Enenche, and Abraham Daniel were kept in police custody till this evening when they brought a remand order from a Magistrate Court in Wuse Zone 6, Abuja,” the source said.

The source added, “The police claimed to have obtained an order from the Magistrate Court, Zone 6, Abuja, for their remand. The name of the Magistrate and the number of days are not yet known at the moment.”

Currently, the three individuals are being held at Keffi Prison on remand. Meanwhile, the source disclosed that a fundamental rights application would likely be filed on Tuesday.

“We will likely file fundamental rights on this,” the source added.

Mrs Mojisola Lasbat Meranda was on Monday unanimously elected as the new Speaker of the Lagos State House of Assembly following the impeachment of Hon. Mudashiru Obasa after the latter’s over nine years in the saddle of the leadership of the House.

Hereunder are 10 key facts about Hon. Mojisola Meranda’s life, career, and political journey:

1. Born on August 16, 1980, Mojisola Meranda hails from the prominent Ojora, Aromire, Onitana, Oloto, and Oniru royal families in LagosStatw. Her late father, Chief T.A. Lawal Akapo, was a legislator who later became the Ojora of Lagos.

2. She earned a degree in Public Administration from Lagos State University in 2013 and a Master’s in Public and International Affairs (MPIA) from the University of Lagos in 2020. She is currently pursuing an MBA in Public Sector Management at the University of York, United Kingdom

3. Her political career started with the defunct Alliance for Democracy (AD), which transitioned into the Action Congress (AC), Action Congress of Nigeria (ACN), and later the All Progressives Congress (APC).

4. In 2003, at the age of 23, she began working as a personal assistant to Dr. Olumuyiwa Gbadegesin, a senior special assistant on technology and special projects to then Governor Bola Tinubu of Lagos State.

5. She became a procurement manager at Cirrus Nigeria Limited. She also served as a senior special assistant and later a supervisory councillor for health at Apapa Local Government Area Council.

6. First elected in 2015 to represent Apapa Constituency 1, Meranda has been re-elected twice. She has consistently focused on amending outdated laws and implementing impactful constituency projects such as medical outreaches, educational initiatives, and water supply programs.

7. Meranda is a vocal advocate for women’s rights and greater representation in politics. She challenges stereotypes and emphasises that women are equally capable of holding leadership positions.

8. She was elected Chief Whip of the Ninth Lagos State House of Assembly

9. She was elected the Deputy Speaker of the House in 2023.

10. On Monday, January 13, 2025, she became the first female Speaker of the Lagos State House of Assembly.

Oyo State governor, Engr. Seyi Makinde, has threatened to prosecute kingmakers in Oyo Kingdom (Oyomesi) and others, who collected bribe or gratification in the selection process of the new Alaafin of Oyo.

He said any chief or anyone found guilty of bribe-taking during the selection process would face prosecution.

It would be recalled that five kingmakers (Oyomesi) declared the appointment of Prince Akeem Owoade as 46th and new Alaafin of Oyo by the governor as null and void because they did not recommend such name to the state government for ratification.

They insisted that the only person they recommended as the next Alaafin was Prince Luqman Gbadegesin.

However, the governor, while presenting staff of office and certificate to the new Alaafin of Oyo, Oba Akeem Abimbola Owoade, at the Government House in Ibadan, on Monday, emphasised on transparency and accountability in the selection process of the new monarch.

The governor described Oba Owoade as a leader poised to upholding the cultural and historical heritage of the Oyo Kingdom, noting that the Alaafin of Oyo is not just a traditional ruler but a custodian of rich history and tradition.

“I believe that Oba Akeem Abimbola Owoade will lead with wisdom, integrity, and a commitment to the unity of the Oyo kingdom,” Makinde stated.

In his response, Oba Owoade expressed gratitude to the people of Oyo and promised to prioritise the development of the kingdom and the welfare of the residents.

Oba Owoade was accompanied by a delegation of his subjects from Oyo town, marking a significant moment in the state’s traditional leadership history.

He, however, pledged to usher in a new era of leadership, with a focus on cultural preservation, youth development, and economic growth in the Oyo Kingdom.

Meanwhile, when contacted, the Bashorun of Oyo and head of Oyomesi, High Chief Yusuf Akinade, said their lawyer should be contacted for reaction, saying he has nothing to say for now since the case is currently in court.

“I don’t know anything about it, I am not around, whatever you want to know, you can contact our lawyer because the case is currently in court, so, I can’t say anything outside the court. I am the Bashorun, I am not aspiring to become the Alaafin,” the High Chief stated.