News
Alams’ Pardon: US to Cut $600m Aid to Nigeria
The United States of America may cut aid to Nigeria following the presidential pardon granted a former governor of Bayelsa State, Diepreye Alamieyeseigha and seven others.
Nigeria is one of the biggest recipients of US aid in Africa. Last year the US gave Nigeria about $226 million in development aid and is expected to spend $600million this year.
Alamieyeseigha was found guilty and convicted of corruption before he was pardoned on Tuesday by the National Council of State after a meeting in Abuja.
The US stated that it was disappointed that those convicted of corruption could be pardoned by the President Goodluck Jonathan’s administration.
It said the move was a setback for Nigeria’s anti corruption crusade.
The Hill, a US newspaper, quoted Victoria Nuland, State Department spokeswoman as saying, “The United States government is deeply disappointed over the recent pardons of corrupt officials by the Nigerian government.
“We see this as a setback for the fight against corruption and also for our ability to play the strong role we’ve played in supporting rule of law and legal institution building in Nigeria, which is very important for the future of the country, obviously.”
Asked if the US could cut off aid, Nuland said it was possible, adding that the pardon put a dent on the collaborative efforts between Nigeria and the US in fight against corruption.
She said, “We have made clear to the Nigerians that this puts a question mark on the kinds of work that we’ve been trying to do with them.
“We haven’t yet taken the kinds of steps that you’re suggesting, but we’re continuing to look at what’s appropriate.”
The US embassy in Abuja had also condemned the pardon via its Twitter handle @USEmbassy saying it was “deeply disappointed.”
“We see this as a setback in the fight against corruption,” the embassy said.
Nigeria was slated to receive $660.5 million in the US 2012 budget, more than any other sub-Saharan country except Ethiopia.
Meanwhile, President Jonathan’s aides have continued to defend the government’s action saying it was in order.
On Saturday, the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, who appeared on a breakfast television show on Channels Television, Sunrise Daily, said commentators’ views on the pardon smacked of ignorance.
Abati said, “There has been a lot of ignorance about what has happened, and sophisticated ignorance. But I respect the fact that part of our responsibility is to explain to people.
“The first thing to note is what a state pardon is not. One, a state pardon does not mean that an individual was not convicted at a particular time; in fact state pardon means that you have been convicted for a particular crime and you have been punished.”
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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