General News
Obasanjo Accuses Jonathan, Others of Destroying Power Sector

Chief Olusegun Obasanjo, former president has returned a damning indictment on his successors who he blamed for the rot in the power sector.
Obasanjo, after his second coming as a civilian president, handed over to the late former President Umaru Yar’Adua in 2007 while President Goodluck Jonathan assumed office after the death of Yar’Adua in May, 2010 and later won the presidential elections of 2011.
The former president, said that his successors abandoned the power sector which he claimed that he took steps to ensure stable power supply across the country when he was military Head of State and also when he returned to government in 1999 as elected civilian president but that his successors usually abandoned the sector as soon as he left office.
He said that the country needed to generate 2,000 megawatts every year for the citizens to enjoy stable electricity.
Obasanjo said this during a programme tagged, “First Green Legacy Moment with Chief Olusegun Obasanjo on Leadership and Human Security in Africa,” held at the Olusegun Obasanjo Presidential Library Complex in Abeokuta.
Noting that lack of political will on the part of Nigerian leaders was part of the problems facing the country, he warned that the nation’s power sector should not be handed over to friends under the guise of privatisation. According to him, “part of our problems is lack of political will on the part of the leaders. What does a leader understand about development? Any leader worth his salt should know that power is very important. It is the driver of all development – be it social, economic and even political.”
“When I was military Head of State, I developed the Jebba Dam, I developed Shirroro, I started Egbin. Shagari came and completed Egbin and commissioned Jebba and Shirroro. Between Shagari in 1983, and until I came back in 1999, there was no single dime invested in power generation. If anything, the ones that were there were allowed to go down.
“A country like Nigeria must be adding nothing less than 2000 mega watts if we are to be moving on the path of development. If you will remember, when I came back in 1999, my first Minister of Power was late Bola Ige. I won’t say Bola didn’t know what he was doing and he said publicly that he would fix the power problems in six months.
“After one year, Bola with his capacity couldn’t fathom what was wrong with power. It was riddled with corruption. Then we had no money, people have forgotten that in 1999/2000, the price of crude oil was $9 per barrel.
“When we started having money, we started the National Integrated Power Plant. When we said the money we had should be invested in power, my successor didn’t understand, he stopped it. If for almost 20 years we did not achieve anything in power generation, then we may not be able to get it again.
“Let me give you an example: the population of South Africa is 55 million and they generate 45,000 megga watts. Our population today is about 180 million people and we could not generate 4,000 megga watts. And South Africa is an industrialising country and not an industrialised nation.
“For us to say we are an industrialising country, we must be generating much more than what South Africa is generating, say 100,000 megga watts. What year will Nigeria get there if we are adding 2,000 megga watts each year? For us to get to 100,000 megga watts, I leave the mathematics to you. It sounds very discouraging but that is the reality.
“I believe that what we have done in the area of telecommunications can be achieved in the area of power but not by privatising the power sector to our friends and families,” he said.
On the problems facing African, Obasanjo said the continent which was blessed with resources and human capital had failed to utilise them.
“What we want to know is that we have the capacity, the material resources, the military resources to achieve greatness in Africa.
“I will give you two or three illustrations: what we need to achieve is the political will. When I became president of Nigeria, strictly speaking by what we are doing and what we have, we may be regarded as not deserving debt relief, but I believed we needed debt relief.
“I went all out for it as at that time. Nigeria was number six in oil production in the world but I knew what the world wanted.
“They wanted a reform that Nigeria is serious that the country will not be going in terms of business as usual and we went for it and we got it. The debt relief saved us over $20 billion. We paid only $12 billion and the rest was given as relief.
“What we are saying about African solutions to African problems is that let Africa spearhead its problems and others come to her rescue later. Let the solution be ours and they adopt it. That is what we did with NEPAD. NEPAD was a complete African homegrown and when we went to Canada, the G-8 said they supported it and said it was a good thing.
“What we need is first, the political will. Secondly, we need the resources that will make impact and we’ll ask the rest of the world to join us. We should be the architects of our own fortune and let others join us,” Obasanjo said.
General News
Senate Orders Full Probe into N1.3 Trillion CBEX Ponzi Scandal

The Senate Wednesday launched a full-scale investigation into the operations of Ponzi schemes in the country. The development followed the catastrophic collapse of the Crypto Bullion Exchange (CBEX), a digital investment platform that allegedly defrauded Nigerians of over N1.3 trillion ($847 million), making it one of the most devastating financial scams in the nation’s history.
The motion, sponsored by Senators Mukhail Adetokunbo Abiru (Lagos East) and Osita Izunaso (Imo West), received overwhelming support from lawmakers during the debate at plenary.
The federal lawmakers unanimously described the proliferation of such schemes as a direct threat to national security, economic stability and public trust in government institutions.
Rising in support of the motion, senators from across the country decried the systemic regulatory failure that allowed CBEX and similar fraudulent platforms to operate unchecked.
They lamented that the fraudulent operators leveraged on technology, social media influence, fake testimonials, and referral commissions to lure millions into financial ruin.
Presenting the lead debate, Senator Abiru detailed how CBEX capitalized on weak oversight by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC) to dupe unsuspecting investors.
He warned that beyond financial losses, such platforms are fueling depression, suicides and the erosion of public confidence in legitimate financial institutions.
“Over N1.3 trillion was lost to CBEX alone. This is not an isolated incident. It is a continuation of a troubling pattern, from MMM in 2016 to MBA Forex in 2020. Nigerians are being robbed, again and again,” Abiru said.
Senator Tahir Monguno (Borno North) called the situation “alarming” and stressed that existing laws must not only be amended but “strengthened” to prevent further exploitation.
He said: “These operators prey on vulnerable and gullible citizens. Some victims have died by suicide. It is time we acted decisively.”
Senator Sadiq Suleiman Umar (Kwara North) emphasized the trust Nigerians place in their government and urged agencies to live up to their mandate.
“People trust that the government will protect them. We must ensure that SEC, CBN, EFCC and others never allow such lapses again,” Umar said.
Senator Solomon Adeola (Ogun West) lamented the regulatory gap in Nigeria’s rapidly evolving fintech space. He warned that many digital platforms operate under the radar.
He said: “It’s not just Ponzi schemes. There are several other unregulated online payment platforms riding on fintech buzzwords. CBN must tell us what rules are in place.”
Senators Abdul Ningi (Bauchi Central) and others urged the National Assembly to utilize its constitutional powers under Sections 88 and 14 of the 1999 Constitution (as amended) to hold regulatory agencies accountable.
“These laws exist, but for too long we’ve failed to enforce them. The people are suffering,” Ningi declared.
Senate President Godswill Akpabio recounted a personal experience from the early 1990s involving a now-defunct Ponzi scheme in Port Harcourt, drawing parallels with today’s CBEX.
Akpabio said: “That scheme collapsed. People lost everything. History is repeating itself, only now on a bigger scale—N1.3 trillion gone. Students, civil servants, even pensioners were affected. This is an emergency.”
He backed calls for nationwide public sensitization and zonal public hearings.
According to the Senate President, “We must educate our people. Many of these victims are not literate in financial matters. If it doesn’t concern you directly, it will affect someone close to you.”
In its resolution, the Senate mandated a joint investigation by its Committees on Capital Market; Banking, Insurance and Other Financial Institutions; Anti-Corruption and Financial Crimes; and ICT & Cybersecurity.
The committees, to be led by that of Banking and Finance, are expected to conduct a comprehensive investigative hearing, including public sessions, and submit their report within four weeks.
The inquiry, according to Akpabio, will focus not only on CBEX but also on the broader Ponzi ecosystem, regulatory lapses and proposals for legislative and administrative reforms.
The Senate also called for immediate steps to educate the public, especially the youth and rural populations on the dangers of fraudulent investment schemes.
As the motion passed unopposed, Senator Akpabio declared: “We cannot sit back while Nigerians are being robbed blind. “We must act to prevent more suicides, restore trust, and reclaim our economy from digital predators.”
General News
UpSkill Universe Launches ‘Skills for Business’ to Empower 10,000 African SMEs, in Collaboration with HP and Google

UpSkill Universe has announced the launch of the Skills for Business programme, a new initiative to help 10,000 small and medium-sized enterprises (SMEs) in Nigeria and South Africa build critical digital and business skills for economic and business growth.
Delivered in collaboration with Google, HP Inc and UpSkill Universe, the programme is designed to equip entrepreneurs with practical tools to thrive in an increasingly digital economy, in addition to having access to a range of courses on the HP LIFE platform.
UpSkill Universe, a leading digital skills training provider, will manage programme delivery and partner engagement. “Entrepreneurs and business owners throughout Africa are already leading change within their communities,” said Gori Yahaya, CEO of UpSkill Universe.
“We understand the challenges SMEs face as they navigate a difficult business landscape, prevalence of AI, and rapidly changing customer behaviour. Through collaboration with HP Inc. and Google, we see an immense opportunity to empower businesses with the practical tips, tools, and technology – including AI – they need to grow, scale, and succeed.”
Building on the success of the Hustle Academy Business Bootcamp, which has supported over 15,000 SMEs across Africa since 2022, this new initiative will focus on action-oriented learning. Participants will gain hands-on skills through modules such as Unlock growth with practical skills in AI, digital marketing, and e-commerce, which are designed to help SMEs boost their productivity, attract more customers, and grow their businesses online, complemented by access to HP LIFE – the HP Foundation’s free global online business skills training program.
The programme is also committed to inclusivity, with a goal of at least 50% participation from women-owned businesses.
“The Hustle Academy training reshaped how we connect with customers online,” shared one SME from Lagos. “These skills make a real difference for us.”
Small businesses are the backbone of Africa’s economy, accounting for nearly 80% of jobs across the continent. Yet despite their significance, many still face barriers to accessing the digital skills and tools needed to compete and grow in a changing marketplace.
The Skills for Business programme aims to bridge this gap by providing entrepreneurs with practical, locally relevant training that meets the real-world demands of today’s market.
Google’s involvement brings additional expertise in digital growth and strategy for small businesses.
“Small businesses are a driving force for progress across Africa and beyond. It’s more critical than ever to help them access the skills and tools they need to grow, especially as digital technologies transform business operations,” said Kristy Grant, Google SSA’s Head of B2B & Brand Marketing. “We are proud to collaborate on initiatives like this that enable entrepreneurs to translate their ambitions into lasting positive impact for their communities and economies.”
At the heart of the initiative is HP LIFE, the HP Foundation’s free global business skills training program, which is available in eight languages online, via mobile app, and offline. Small business owners and their employees will gain access to more than 30 practical training modules covering topics such as boosting productivity with AI, digital marketing essentials, and starting an e-commerce journey.
This will be delivered alongside expert-led virtual workshops by Google and UpSkill Universe to ensure that SMEs can build the capabilities needed to grow their customer base, strengthen operations, and drive long-term success.
“When small businesses thrive, entire communities thrive with them. The Skills for Business program is about empowering entrepreneurs to access the future of work.” said Michele Malejki, Global Head of Social Impact, HP Inc. and Executive Director, HP Foundation.
“Since 2021, HP has been on a journey to accelerate digital equity for 150 million people by 2030 by providing access to technology and digital skills content that enhances skills and economic opportunity. We are very proud to support this deeply impactful program, which will provide the support SMEs need to grow, scale, and succeed.
The Skills for Business programme aims to directly train 10,000 SMEs and indirectly impact an additional 59,000 individuals by the end of 2025, demonstrating the powerful role of partnerships in advancing Africa’s digital transformation and economic development.
General News
FG Declares Admissions outside CAPS Illegal

Federal government has declared that any admission into tertiary institutions conducted outside the Central Admissions Processing System (CAPS), will be deemed illegal.
Dr Tunji Alausa, minister of Education, gave the directive in Abuja on Tuesday at the 2025 policy meeting of the Joint Admissions and Matriculation Board (JAMB).
Alausa, therefore, warned universities, polytechnics, and colleges of education across the country against illegal admission.
He said institutions and individuals involved in such practices would be prosecuted and severely sanctioned.
“Any admission conducted outside CAPS, regardless of its intentions, is illegal.
“Both institutions and the candidates involved in such practices will be held accountable.
“Sanctions may include withdrawal of institutional assets and prosecution of culpable officers or governing council members,” he said.
CAPS, introduced in 2017, automates the admission process to eliminate human interference and administrative bottlenecks.
Alausa, however, reiterated the government’s commitment to strengthen transparency, fairness, and accountability in the nation’s tertiary education system.
He explained that while the responsibility for initiating admissions rests with the academic boards of each institution, JAMB, as a statutory regulatory body is mandated to oversee and regulate the process to ensure fairness and equity.
The Minister urged vice-chancellors, rectors, provosts, and governing councils to intensify oversight functions to prevent unauthorised practices.
He assured that the Ministry would monitor compliance closely in collaboration with JAMB.
The minister also reaffirmed the policy mandating integration of the National Identification Number (NIN) into the JAMB registration process.
“The NIN requirement has proven vital in safeguarding the integrity of our admission system by curbing identity fraud and multiple registrations.
“Any abuse of the NIN system will be identified and punished,” he said.
He highlighted the need for data-driven policies in the admission processes.
The Minister also presented statistics showing a mismatch between available admission quotas and actual student intake across many programmes, especially in agriculture, education, engineering, and the health sciences.
“We have capacity, but we are not admitting enough students.
“We need to start closing the gap, so that more children can access tertiary education,” he said.
He also criticised the proliferation of underutilised institutions, revealing that over 120 universities in Nigeria received fewer than 50 applications in the current admission cycle.
“The problem is not about access, it’s about alignment and capacity.
“We don’t need to open new tertiary institutions in every ward. Instead, we must expand and strengthen the capacity of existing ones,” he said.
On his part, Sen. Shuaib Salisu, chairman, Senate Committee on ICT and Cybersecurity, called for stricter sanctions against institutions and administrators who undermine Nigeria’s admission process.
Salisu proposed the criminalisation of fraudulent admission practices.
He also warned institutions that exploit loopholes in the admissions system, allowing students to unknowingly pursue flawed admissions for years to desist from such practices.
He assured that the Senate Committee would explore legislation to criminalise such fraudulent practices, holding admission officers and institutional management accountable.
Salisu also called for an inclusive education system that drives peace and economic growth.
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