The Nation Newspaper

Author: The Nation

  • London property market challenges Nigerians

    London property market challenges Nigerians

    Foreign investors, particularly Nigerians, are navigating new financial pressures in London’s recovering property market, according to a real estate expert.

    After experiencing stagnation in recent years, the London property market has seen modest growth of about 2–3 per cent over the past 12 months, signalling a return to stability—but also presenting fresh challenges for buyers.

    London-based realtor and founder of Onyx Property Team, Ugo Arinzeh, noted that while the market is stabilizing, offshore investors must prepare for unique costs, market complexities, and strategic decisions that could significantly impact returns.

    “As of the fourth quarter of 2025, the average London property sold for roughly £659, 000. This reflects a 2.3 per cent price increase over the past year, marking a notable improvement from previous stagnation,” Arinze said.

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    Rental prices also continue to rise. The average monthly rent in London reached approximately £2,227 at the end of 2025, compared with the UK national average of £1,375. Office for National Statistics data shows that private rents across the UK increased by 6.7 percent in the 12 months to June 2025, with London rents rising by 7.3 percent to an average of £2,252 per month.

    However, data from Zoopla indicates slower growth for newly-let properties in London, at just 2.8 percent in the year to April 2025. In the prime and upper-end markets, rental growth stood at 1.6 percent in Q1 2025, demonstrating significant variation across price segments.

    For Nigerian and other offshore investors, these trends suggest that build-to-let properties currently offer some of the best potential for yield. Understanding the nuances of price growth, rental performance, and property location will be crucial for making profitable investment decisions in the London real estate market.

  • African Energy Bank begins operations Q2

    African Energy Bank begins operations Q2

    The African Energy Bank, a financial institution designed to mobilise capital for Africa’s energy priorities and strengthen the continent’s energy value chains, is set to commence operations in June.

    This was made known by the President, African Petroleum Producers’ Organization (APPO), Mamadou Sangafowa-Coulibaly, at the handover ceremony of the headquarters building of the African Energy Bank in Abuja by the federal government.

    Coulibaly, who spoke at the ceremony on the sidelines of the Nigeria International Energy Summit (NIES) in Abuja, commended Nigeria’s leadership in driving the initiative.

    He expressed appreciation to partners for providing the headquarters facilities, describing the Bank as a symbol of Africa’s resolve to finance, develop and secure its energy future by Africans, for Africans.

    The African Energy Bank is a joint initiative of APPO member states and the African Export-Import Bank (Afreximbank), with a mandate to mobilise domestic and regional capital for energy infrastructure, reduce dependence on external financing, and align investments with Africa’s long-term development and industrialisation objectives.

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    The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the ceremony said Nigeria had fulfilled all its obligations as host, noting that the headquarters is strategically located, fully equipped and ready for immediate take-off.

    He described the African Energy Bank as more than a financial institution, but a cornerstone of Africa’s quest for economic independence and long-term energy security, marking the beginning of a new era in which Africans finance, produce and sustain their own energy future.

    The ceremony reflected a shared African commitment to taking greater ownership of the continent’s vast natural resources, with speakers highlighting that the Bank will deploy targeted financial instruments to support projects across the energy value chain — including exploration, refining, renewable energy integration and local content development — to drive economic value and job creation.

    The African Energy Bank is a pan-African institution jointly established by APPO member states and Afreximbank, aimed at strengthening regional energy markets, boosting value addition and supporting sustainable development through improved access to capital.

  • Mishra is CEO UBA UK

    Mishra is CEO UBA UK

    United Bank for Africa (UBA) has announced the appointment of Loknath Mishra as Chief Executive Officer (CEO) of UBA UK.

    The appointment which takes effect from February 2, reinforces the Group’s commitment to strengthening its international footprint and enhancing its role as a key financial bridge between Africa and the world.

    As CEO of UBA UK, Mishra will focus on positioning the UK subsidiary as a centre of excellence for regulatory compliance and customer service, strengthening financial resilience through diversified liquidity and income sources, as well as deepening UBA’s leadership in trade, transaction, and correspondent banking in support of business flows in and out of Africa.

    He brings with him several decades of international banking experience across retail, corporate, investment and transaction banking, with a distinguished track record of building and leading regulated banking platforms in the United Kingdom and Europe.

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     Before joining UBA UK, Mishra served as Managing Director and Chief Executive Officer of ICICI Bank UK, where he played a central role in strengthening the bank’s presence across the UK and European markets, while significantly enhancing governance, regulatory engagement, and operational resilience.

    He also held other senior leadership roles at ICICI Bank Limited, including Group Head of Wholesale Banking and Global Head of Transaction Banking, contributing to the expansion of the bank’s global wholesale franchise, strengthening risk management frameworks, and leading customer-centric transformation initiatives across corporate, institutional and financial institution segments.

    Mishra is widely recognised for his leadership in complex regulatory environments and for driving digital innovation across trade finance, cash management and retail banking, and in recognition of his contribution to financial services, he was conferred with the Freedom of the City of London.

    Commenting on the appointment, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said: “Loknath brings an exceptional combination of global banking experience, regulatory credibility and deep expertise in wholesale and transaction banking. His leadership will be instrumental in advancing UBA UK’s role as a flagship subsidiary for the Group and in strengthening our capacity to support trade and investment flows between Africa and international markets.”

    Alawuba explained that the appointment underscores UBA’s continued investment in building a world-class international banking franchise that supports Africa’s economic integration into the global economy.

    On his part, Mishra who expressed delight over his appointment, said, “I am honoured to join UBA at a time of significant opportunity for the Group. UBA’s unique role in connecting Africa to global markets is both compelling and strategically important. I look forward to working with colleagues across the Group to strengthen UBA UK’s platform and to support clients in unlocking growth across Africa and beyond.”

    UBA UK plays a critical role within UBA Group’s international network, supporting African corporates, financial institutions, sovereigns and global partners through its strong capabilities in correspondent banking, trade finance, transaction banking and treasury services.

  • Crystal Finance celebrates 10th anniversary

    Crystal Finance celebrates 10th anniversary

    The Anthonia Hall by Civic Centre came alive as notable personalities, customers, and staff members of Crystal Finance Company, a specialized financial institution offering Credit, Funds Management, and Financial Advisory services, gathered to celebrate the 10th anniversary of the company, an evening dedicated to honouring staff and foundational clients for their loyalty.

    The event, held last weekend , recognized clients and staff whose loyalty, commitment, and outstanding performance have continued to drive the company’s growth.

    Guests were welcomed by a creatively designed entrance inspired by the company’s brand colours, along with contemporary music from the DJ, while the event came alive through the quality delivery of the compere.

    Delivering his opening remarks, the Chairman of Crystal Finance Company, Uyi Oronsaye, reminisced on the journey and the growth that have accompanied the company amidst different challenges.

     Oronsaye, who could not hide his excitement, stressed that the company has witnessed steady growth, primarily driven by its professional posture and transparent, reliable service delivery, which have helped it earn the confidence of customers and other stakeholders. 

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    He explained that the milestone celebration offered an opportunity to recognize the people behind the journey, particularly the commitment of management, the diligence of staff, and the support of partners who have all played a vital role in shaping the company to date.

     Oronsaye concluded by stating that “while the next decade and future of the finance industry would experience a cataclysmic shift, what remains constant is the responsibility of the Board and Management to uphold sound judgment, strong governance, and preserve the trust carefully built over time.

    Also speaking, the Managing Director, Crystal Finance, Imhoudu Mamudu, described the past decade of running the institution as a journey of discipline, learning, and responsibility.

    He said, “Setting out about 10 years ago, the company decided to do things differently and break away from the stereotype that the sub-sector was being ascribed. We spent about 6 months training our staff, building the systems, and testing our assumptions. We prioritized governance and risk management over scaling and rapid growth. Growth was important, but we wanted it to be sustainable.”

    The Managing Director also spoke on some of the impact the company has made over the years, particularly in the area of Corporate Social Responsibility.

     He said the company’s CSR projects are structured around promoting education and preserving the environment. To support these courses, the company has empowered several schools through donations of reading and writing materials, classroom refurbishment, scholarships, and cash awards to indigent students.

    He said the company went a notch further in 2024, when it launched an initiative to build and grow students’ entrepreneurial spirit, so they can learn to develop and grow businesses rather than depend solely on finding jobs after graduation. The pilot scheme was launched with the University of Lagos and plans to extend the initiative to other tertiary institutions within its area of operation.

    In championing a sustainable environment, the Managing Director disclosed that the company has designed products specifically to finance recycling and waste management.

    He also informed the audience that the company is a strong advocate of financial inclusion and gender equality in the consumption of financial products.

    To this end, the company has developed products tailored specially to its female clients.

    He expressed pride in the company’s growth over the last 10 years, particularly in the quality of its staff, which once made it a fertile ground for staff poaching.

    Expressing his sincere appreciation to past and present staff, clients, and partners for their commitment and guidance over the years, he said the milestone presents the company with a springboard into the future, which it looks forward to with great optimism.

    The Managing Director said the company was prepared to evolve with the times, but it would not lose its essence and character in the process. He said the objective remains clear—to build an institution that endures.

    At the event, members of staff and clients who supported the company right from inception were recognised and rewarded.

    Among the award categories are the Foundational Clients Award, Long Service Award, Exceptional Contribution Award, Outstanding Performance Award, and Rising Star Award.

    Crystal Finance is a financial institution known for offering tailored financial solutions that empower Small and Medium Enterprises (SMEs).

  • Our farm produce perishing over deplorable roads, Anambra community cries out

    Our farm produce perishing over deplorable roads, Anambra community cries out

    By Elekwachi Chinedum, Onitsha

    The people of Enugwuabo Ufuma in Orumba North Local Government Area of Anambra State have raised the alarm over deplorable condition of the only access road leading to the community.

    The agrarian community, said to be among the food baskets of the state, sharing boundary with Enugu State, has suffered neglect, including inaccessible road network.

    Speaking with reporters, President General of the town, Willie Okafor, lamented the challenge they faced transporting their farm produce due to the bad roads.

    He said most of their farm produce perished, following inability of prospective buyers to access the area.

    Okafor said the roads became worst during rainy season, adding that the community was cut off from the rest of the state during the last rainy season.

    He said the community carried out palliative works on the road shortly after his assumption of office, seeking government’s assistance to ensure they reconnected with neighbouring communities as well as end the era of farm produce wastage.

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    Said he: “Shortly after my assumption of office on January 5, 2026, I raised the alarm over the terrible state of our roads. Our community was totally cut off from the rest of the state during the last rainy season.

    “Accessing the community through Enugu State or through Ufuma junction was difficult. People were left with no option but to bypass us to pass through Akpugoeze to connect the junction to Awka.  “Regrettably, this community is the food basket of the state. Anything planted will grow and produce bountiful harvest.

    “As a result, I raised the alarm, asking for N3 million to do palliative work on the road. To the surprise of everyone, in less than 24 hours, I got N8mllion from our people.

    “It was an eye opener of our people’s willingness to do their best, to ensure the roads are fixed, which is very basic. But there’s a limit you can go.

    “We’re hoping to partner with our local government through the chairman, who has already taken a tour of the road, a road of 9.5km.

    “We’re also expecting assistance from the state government. The road from Ekwulobia to Ufuma junction is almost completed. It won’t take much to take it from Ufuma junction to our boundary with Enugu State.

    “Enugu side is already done, remaining that of Anambra end. During the rainy season, you’ll pity the indigenes, especially students. You need to watch them navigate the road with their shoes messed up.

    “You don’t talk of vehicular movement, very pitiable. If it is rainy season, there’s no way any of these vehicles can enter here. We’re totally cut off.

    “People travel from various parts of Enugu State through this road to access markets in Anambra State. But with the deplorable condition of the roads, food items produced become wasted. Fruits grow and perish at will.

    “Our plea to the government is to help us in addition with the little we’ve done. It will assist us reconnect with Enugu and other communities, as well as boost agricultural and economic activities here.”

  • Attack at boundary: Police vow decisive action

    Attack at boundary: Police vow decisive action

    Delta State Police Command has launched a major security operation, following an attack on its officers at the boundary between Akukwu-Igbo and Ugbolu communities in Oshimili North Local Government.

    In response to the incident, Police Commissioner (CP) Aina Adesola ordered deployment of tactical operatives to the affected area, to restore order, prevent further breakdown of law and order and reassure residents of the command’s commitment to public safety.

    The swift intervention by the police led to a sting operation that resulted in the arrest of several suspects believed to be connected to the attack.

    The command said the suspects were in custody and were providing information to investigators, adding that efforts were on to track down and arrest other suspects at large.

    Condemning the attack, the CP described it as an unprovoked assault on law enforcement officers and warned that such actions would not be tolerated under his leadership.

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    He said the command would deal with anyone or any group that threatened public peace or targeted police personnel.

    Adesola noted that the command would not allow extremist, secessionist, or violent groups to establish or operate within the state, assuring residents that security agencies were prepared to confront any threat to stability and public order.

    He urged residents of Akukwu-Igbo, Ugbolu and surrounding communities to remain calm and go about their lawful activities, as the command continues to maintain a visible security presence in the area.

    The police boss appealed to the public to support ongoing operations by providing credible information that could lead to the arrest of the remaining suspects.

    He reaffirmed the command’s commitment to the protection of lives and property.

  • Ughelli North Council boss leads sanitation

    Ughelli North Council boss leads sanitation

    In a renewed push to enhance environmental cleanliness and public safety, the Chairman of Ughelli North Local Government Area of Delta State, Olorogun Jaro Egbo, has led a special sanitation exercise along East-West Road in Ughelli.  He urged residents and stakeholders to support government’s efforts in sustaining a clean and healthy environment.

    The exercise, carried out as part of the council’s monthly environmental sanitation programme, focused on Ekiugbo Junction axis, stretching from Iwhre-Inene Junction.

    Activities during the exercise included clearing of overgrown grasses, de-silting of blocked drainage channels and removal of sand heaps along the expressway.

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    The intervention was aimed at improving visibility, preventing flooding and ensuring free flow of traffic on the busy highway.

    Addressing council officials and participants at the site, Olorogun Egbo said the exercise became necessary due to the dangers posed by unchecked vegetation, clogged drainage systems and accumulated sand heaps, which, he noted, constituted traffic hazards and gave the town an untidy appearance.

    He reaffirmed his administration’s commitment to environmental cleanliness across Ughelli North, stressing that the health, safety and well-being of residents remained a top priority. The council chairman urged residents and other stakeholders to complement government’s efforts by taking responsibility for their immediate surroundings and observing proper environmental hygiene at all times.

    He declared that “a new Ughelli North is possible” through collective action.

  • Ex-Customary court judge becomes monarch

    Ex-Customary court judge becomes monarch

    A former judge of the Customary Court in Abia State, Chief Godwin Mejuru, has emerged as the traditional ruler-elect of Umuigubeachara East autonomous community in Ukwa East Local Government.

    Mejuru was presented to the Mayor of Ukwa East Local Government, Chief Chibunna Akara, by the kingmakers of Umuigubeachara East community led by Chief Chijioke Mejuru and Prince Adindu Dokereh.

    Presenting the traditional ruler-elect before the Mayor, the kingmakers of the community led by Chief Chijioke Mejuru and the eldest son of the late traditional ruler of the community, Prince Dokereh, said the monarch-elect was nominated by his people from Demejuruh village, who is the next in turn to produce a traditional ruler.

    Dokereh said Mejuru was unanimously adopted by  the five villages that made up the community, namely DeIhute, Ogu Nwada, Denwarminih, Demejuruh and Umudobia.

    He said the five villages of Umuigubeachara East autonomous community ‘’adopted Godwin Mejuru as our traditional ruler.’’

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    ‘’The five villages are: DeIhute, Ogu Nwada, Denwarminih, Demejuruh and Umudobia. We don’t do election, but we have a special way of choosing our traditional ruler.

    ‘’We have fulfilled the traditional rites. Chief Godwin Mejuru was chosen by his village, whose turn it is to produce the next traditional ruler, and the other four villages adopted him as the traditional ruler of Umuigubeachara East autonomous community. We have presented him before Ukwa East Local Government as required by law.”

    Receiving the traditional ruler-elect, the Mayor of Ukwa East Local Government, Chief Chibunna Akara, lauded Umuigubeachara East community for the peaceful manner they chose their traditional ruler after the mourning period of the late ruler.

    He described the Eze-elect as a man of integrity and honour, who has contributed to the development of the local government during his active days in politics.

    He advised the people of the community to support him to develop Umuigubeachara East, stressing that development would only thrive where there was peace and unity.

    The Mayor called on communities who are yet to present their traditional rulers-elect to the government to act quickly, as they are missing lots of dividends from the government.

    The Mayor said: “I commend Umuigubeachara East people for the peaceful way they chose their traditional ruler. I have known Chief Godwin Mejuru as a man of integrity and honour.

    “He has occupied positions from Customary Court judge at Azumini, to deputy chairman of Ukwa East Local Government, ward councillor, supervisory councillor and others. His emergence as a traditional ruler is like a prophecy fulfilled.”

    The Eze-elect expressed gratitude to his community and the Mayor for finding him fit as a traditional ruler to contribute his quota to the development of the community.

  • NELFUND boosts enrolment, cushions cost burden for Zamfara varsity students – ex-VC

    NELFUND boosts enrolment, cushions cost burden for Zamfara varsity students – ex-VC

    The Nigeria Education Loan Fund (NELFUND) has improved student enrolment and eased financial pressure on undergraduates of Zamfara State University, Talata Mafara, amid rising inflation and cost of living in the state.

    The immediate past Vice-Chancellor of the university, Prof. Yahaya Ahmed Zakari, in an interview, said the intervention had enabled many students from low-income households in Zamfara to register for the academic session despite economic challenges.

    Zakari said many students would have been unable to resume or complete registration without access to the loan and upkeep support provided through NELFUND.

    “We are most grateful to His Excellency, the President of the Federal Republic of Nigeria, for giving our students the opportunity to access these funds,” he said.

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    “Without this support, many of our students would not have been able to register, especially with the rising cost of transportation, food and general living expenses in Zamfara. Many have accessed the funds, and registration has continued as normal.”

    According to him, Zamfara State University received a total of N107,541,500 from the scheme, which he described as a critical education-financing intervention for students in the state.

    The former Vice-Chancellor noted that the student loan programme mirrors similar initiatives that existed decades ago, which helped many Nigerians complete their education.

    “When we were students around 1989–1990, student loans were available and many of us benefited. Today, we are professors. So, this is a good policy and it is clearly in the right direction,” he said.

    Zakari added that the upkeep component of the loan scheme had also supported students’ daily needs, though he acknowledged challenges in accessing the allowance by some beneficiaries.

    “The upkeep has helped many students, but a few are yet to access it. We believe this is being addressed, and we hope to see improvements going forward,” he stated.

    He appealed to NELFUND to ensure timely and regular disbursement of upkeep funds and to consider a review of the allowance in view of prevailing economic realities.

    “If possible, the N20,000 upkeep allowance should be increased. While it is helpful, it is still small compared to the cost of living for students in Zamfara,” he said.

    Zakari clarified that he spoke in his personal capacity, having handed over to a new Vice-Chancellor on January 28, 2026.

    Meanwhile, the Managing Director of NELFUND, Akintunde Sawyerr, has said the Fund was created to strengthen education financing across states, reduce dropout rates and ensure that students from economically disadvantaged backgrounds—particularly in states like Zamfara—can access higher education, adding that ongoing system improvements are aimed at resolving disbursement gaps and expanding access nationwide.

  • Why I don’t do 50/50 with my husband – Blessing Obasi

    Why I don’t do 50/50 with my husband – Blessing Obasi

    Actress Blessing Obasi Nze has opened up about the financial dynamics in her marriage to actor Stan Nze.

    Speaking in an interview with Ife, Blessing said their approach to finances is based on mutual responsibility and trust, rather than a specific sharing formula.

    The movie producer explained that she and her husband take full responsibility for expenses, with each partner contributing their best without measuring who contributes more.

    According to her, they pay for things as needed and exchange receipts to keep a record of expenses, allowing them to function as a team.

    Nze advised against fixing money ratios in marriage, saying it can make the relationship feel too formal and transactional.

    “It’s 100/100. There is no 50/50 with me and my partner. We just do things equally and sometimes he does it and just sends the receipt to me, and I do likewise. I bring mine, he brings his. Our goal is to make it work. I can’t be doing 50/50 or 70/30 because it’s like office work already,” she said

    She emphasised that their focus is on partnership and support, with each person stepping in whenever necessary.

    Blessing Nze, who got married to Stan Nze in September 2021 and welcomed their first child in October 2023, believes this approach helps them make their marriage work.