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  • Islamic finance to incorporate financial reporting system

    Islamic finance to incorporate financial reporting system

    Islamic finance has received a major boost as the Federal Government has announced plans to integrate Islamic finance accounting and auditing standards into Nigeria‘s financial reporting system, a move aimed at boosting transparency, expanding financial inclusion, and positioning the country as a hub for non-interest finance in Africa.

    The initiative was unveiled by the Financial Reporting Council of Nigeria (FRCN) during a stakeholders’ engagement in Abuja.

    The standards, developed by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), a Bahrain-based body established in 1991, are widely recognised across countries with strong Islamic finance markets, including Saudi Arabia, Pakistan, Sudan, Indonesia, and parts of the Gulf Cooperation Council.

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    AAOIFI standards are tailored to the unique nature of non-interest financial transactions such as profit-and-loss sharing, sukuk (Islamic bonds), takaful (Islamic insurance), and other Shari’ah-compliant products that conventional reporting frameworks often fail to capture.

    Currently, Islamic finance institutions in Nigeria rely on conventional reporting systems, making adjustments to reflect Shari’ah-compliant transactions. The planned integration is expected to close these gaps, strengthen credibility, and align Nigeria’s non-interest finance sector with global best practices while maintaining local regulatory requirements.

    By adopting these standards, Nigeria hopes to attract investment, deepen trust in its financial system, and accelerate the growth of Islamic finance, a sector increasingly seen as vital for diversifying the economy and promoting inclusive development.

  • FoodCo unveils new year promo for consumers

    FoodCo unveils new year promo for consumers

    In a bid to strengthen customer connection and support households in managing post-festive financial pressures, FoodCo—a top-five retailer in Nigeria and operator of the largest supermarket chain in the South-West—has launched a New Year Promotional campaign.

    The campaign offers discounts across a wide range of products, including essential groceries, fresh foods, toiletries, and household items, available at all 23 FoodCo outlets across Oyo, Lagos, and Ogun States.

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    Commenting on the initiative, Funmi Aiyepeku, FoodCo’s Chief Commercial Officer, stated that the campaign underscores the company’s commitment to delivering sustained value while deepening long-term customer relationships.

    She said: “We are pleased to introduce our first promotion of 2026. The post-festive period often presents financial challenges for many households, and this initiative reflects our commitment to supporting customers at a time when value is most critical. At FoodCo, we view initiatives like this as important engagement touchpoints—reinforcing trust, loyalty, and the strong relationships we have built with our customers

  • Popoola to lead Taekwondo Federation after Nnaji’s last minute withdrawal

    Popoola to lead Taekwondo Federation after Nnaji’s last minute withdrawal

    The immediate past  Vice President of the Taekwondo Federation of Nigeria (TAN),  Tayo Kuburat Popoola has been elected as the New President of the Federation.

    Popoola emerged as the substantive President of the Federation at the  election conducted by the National Sports Commission ( NSC ) at the Gymnasium hall of the  package ‘B’ of the MKO National stadium, Abuja.

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    Popoola who hails from  the South West zone, clinched the apex position by emerging  unopposed following the withdrawal of former President, Chief Jonathan Nnaji, who pulled out of the race at the last minute.

    Stakeholders who besieged the voting arena to witness the election, described Popoola’s emergence as a new dawn for Taekwondo sport in Nigeria.

    Recall that  the New President has been involved in Taekwondo for all her life

  • UNIJOS to launch sports institute with 10 new academic programs

    UNIJOS to launch sports institute with 10 new academic programs

    The  University of Jos is set to introduce over ten  academic programmes in Sports Education following  a comprehensive design for the establishment of a Sports Institute.

    These new programmes, according  to the varsity’s Vice-Chancellor, Professor Tanko Ishaya, will include sports marketing, sports medicine, sports psychology, sports journalism, sports law, and sports Management, among several others.

    Professor Ishaya explained that the Sports Institute would serve as a hub for producing the next generation of sports professionals in Nigeria, leveraging the University’s strong academic framework.

     “This is not just about building a Sports Centre; it is about bringing back the glory of Plateau State through Sports while raising a new breed of Nigerian professional players,” he said.

    The Vice-Chancellor was speaking while signing a Memorandum of Understanding (MOU) between the University of Jos and Belgush Royal Promotions, a Sports, Entertainment and Media Events Management firm, for a partnership that will focus on hosting the National University Games Association (NUGA) and the establishment of a world-class Sports Institute within the University.

    He said  the partnership will also include an exciting collaboration with the National Sports University of Korea, which is set to contribute expertise to the development of the Sports Institute.

    According to him, with the University’s strategic vision, the new Academic programmes aim to fill a gap in Nigeria’s Sports Education landscape, as there is currently no Nigerian University offering such specialized courses even as  he  stressed that the University’s location in Jos, with its unique climatic condition, provides an ideal environment for nurturing young talented athletes.

     He observed that Universities are for the future, and that is why the University is thinking ahead, noting that the new Sports programmes will help shape the future of Nigerian Sports.

    Professor Ishaya expressed his appreciation to Belgush Royal Promotions for the company’s consistency which he believes brought the MOU to fruition despite a few challenges being experienced along the way.

    He emphasized the determination of both parties to see the partnership through and commended the alignment of the goals of both organizations which will strengthen their commitment towards achieving long-term success.

    The Vice-Chancellor further revealed that the University is in discussions National Sports Commission through its Director General, Mallam Shehu Dikko, whom has shown strong support to the institution’s efforts towards hosting the NUGA Sports festival and establishing a Sports Institute.

    He stressed that such collaborations are expected to bring significant value to the University’s ambitions, not only for the upcoming NUGA competition but for the holistic and long-term development of its Academic curricula.

    Earlier, Chairman of Belgush Royal Promotion, Chief Obed Gushem expressed satisfaction with the University’s initiative and emphasized that there are vast opportunities that partnering with the University will help discover.

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    Chief Gushem praised the University Administration for its strategic vision, and acknowledged the competence and diligence of its Staff and Students, despite the challenges daily being encountered in carrying out their roles.

    Similarly, a former broadcaster and renowned Sports Administrator, Mallam Mainasara Illo, who is a Director at Belgush Royal Promotion, described Plateau State as a serene and strategic location for staging Sports events that can capture national attention.

    He noted that the signing of the MOU will open new avenues for growth and collaboration and assured that Belgush Royal Promotions would commit significant manpower as well as resources towards ensuring that the NUGA Festival hosted by UNIJOS would be the best in history.

    Also contributing, a former Director-General of the Federal Radio Corporation of Nigeria (FRCN) and veteran broadcaster, Dr Ladan Salihu said the event marks the beginning of a momentous collaboration and believes through the partnership, the University of Jos is set to play a leading role in the growth of Sports Education and development in Nigeria.

    For Dr Salihu, although the preparation period for hosting the Games is short, NUGA is a unique platform for young athletes and Sports professionals to showcase their talents, while contributing to the nation’s Sports legacy.

    He opined that, as both parties work towards the successful realization of the MOU’s objectives, the University can become a major player in the Nigerian Sports scene, hosting outstanding competitions and training the next generation of Sports leaders.

    Highpoint of the occasion was the signing of the MOU between the two parties, witnessed by members of the University Management, the NUGA Local Organizing Committee (LOC), UNIJOS Sports Committee and officials of Belgush Royal Promotions.

  • Tonto Dikeh is proud in cheap dress

    A star in a cheap dress; this describes Nollywood actress Tonto Dikeh who has revealed that a blue dress which she sported in an Instagram post cost her just N1, 500.

    This is contrary to the belief that stars usually wear expensive designs and labels. The mother of one also said a couple of years ago that, she wouldn’t have considered the dress because it was cheap, aligning to the snobbish attitude towards cheap clothes which many movie stars have.

    “4/5 years ago I would never have blinked at a dress that cost nothing because I had the mentality that if it was cheap it wasn’t for me,” she said on her Instagram account, posting a picture of herself in the light blue dress.

    “I mean who the heavens did I think I was? No wonder I got broke quick all the time?? No wonder I had no plan and could execute no plan cos of my reckless spending.

    “BOTTOMLINE I BOUGHT THIS DRESS FOR 1,500naria and was given 44naria change!!

    #THERE ARE CERTAIN THINGS THAT ONLY MATURITY AND EXPERIENCE CAN TEACH YOU!”

    She also gave her fans a clue to where the dress could be bought. According to her, “they are hung just inside the same mall where you have @style_temptation by the entrance!”

  • Rise above differences, Tinubu urges Nigerians

    ALL Progressives Congress national stalwart Asiwaju Bola Tinubu yesterday urged Nigerians to rise above their differences and treat one another with kindness and decency.

    He said there would always be issues upon which Nigerians can disagree and differ.

    Asiwaju Tinubu’s counsel was contained in his Christmas message to Nigerians, which was released in Lagos yesterday.

    The former Lagos governor said: “There will always be things upon which we will disagree and differ. Such is the way of life.

    “But we must always transcend these inevitable differences to treat one another with fundamental kindness and decency. This is the real spirit of Christmas and this must be the spirit of the Nigeria we seek to build.”

    The message reads: “May each and every Nigerian enjoy a Merry Christmas. May you share good tidings with family and friends on this day of peace and joy.

    “As we gather in our homes to celebrate the day, let us take a moment to reflect on the true meaning of the season.  Jesus Christ came into the world not that we may use his birthday as an excuse for festivities.

    “He came into this world to teach us how to show us the best aspects of our common humanity and to point the way to spiritual salvation.

    “He is known as the Prince of Peace but he came into the world not cloaked in temporal power or visible wealth. He came dressed in humility and in compassion for those whom society has tossed aside.

    “Let us remember these things as we eat and drink on this day. Let us, on this day, resolve to help our fellow man a bit more than we have in the past.

    “It is easy to be good to family and friends. However, we must do better than this. We must strive to be kind and generous even when hard to do so. We must exercise tolerance regarding those who even oppose us and must douse hatred and conflict where we find it.

    “As a Muslim, I understand that Jesus knew the road to our better existence and that his life was dedicated so that we may walk this path as well.

    “Whether or not one is a practicing Christian or not, Jesus holds something value for us. His teachings are of a most ethical and humanitarian existence. To follow them will make of each of us a better person and to make of Nigeria a better nation.

    “We are a young and growing nation.  We are still shaping our national identity and political culture. It would be easy for us to descend into the way of endless squabbling and mindless conflict, to seek power solely for the sake of holding power.

    “But this is not how we build our nation. We must strive to serve the greater purpose. Whether Christian or Muslim, we must recognise each other as part of the same human family and must act as brothers not antagonists.

    “There will always be things upon which we will disagree and differ. Such is the way of life. But we must always transcend these inevitable differences to treat one another with fundamental kindness and decency. This is the real spirit of Christmas and this must be the spirit of the Nigeria we seek to build.

    “We extend to all Nigerians of all stripes our wishes for a peaceful and happy Christmas. May we join hands and make of this Nigeria a better land for all. May God continue to bless you and this home we call Nigeria.”

  • Grants: ccommissioner counsels political office holders, civil servants

    Ogun State Commissioner for Local Government and Chieftaincy Affairs, Chief Jide Ojuko has urged political office holders and civil servants in the councils to use the grants on projects that would be of benefit to the people.

    Speaking during a visit to the new Local Council Development Areas (LCDAs) in Ogun Central Senatorial District, the commissioner said their projects and programmes should impact on the people in their areas.

      He said the government’s grants were meant to provide amenities, such as roads, boreholes, repair leaking roofs for primary schools as well as keep their environment clean, among others, for their communities.

    Ojuko noted that the government would continue to support the LCDAs to ensure that the dividends of democracy were delivered in every part of the state.

    The commissioner reiterated that for the government to be felt at the local level, Heads of councils should be proactive, adding that the issue of Internally Generated Revenue must be looked into while a committee to help boost revenue of the councils should be ready to work round the clock for better output.

  • Singer Terry-G in road crash

    Singer Terry-G in road crash

    Nigerian singer Terry G was yesterday involved in an accident in Lekki.

    The accident happened around 6am when he was returning from a night club between the 1st and 2nd roundabout in Lekki.

    His Range Rover Sport veered off the road and landed in a gutter along with a commercial bus.

    The car was damaged.

    A source said Terry G and others in the vehicle were unhurt, but the driver was injured.

    Terry G’s manager, Laulau, confirmed the incident, saying the musician is unhurt.

    “He is fine; he is in Lagos,” he said.

    In 2010, Terry G survived an accident when his Toyota Camry ran into a road demarcation around Chemiron, close to Sunday Market, in Ogba, Lagos.

  • I never knew my victim, murder suspect tells court

    A 26-year-old murder suspect, Oluwaseun Oladapo, yesterday told an Ikeja High Court in Lagos that he never knew or met Mr Kunle Fadipe.

    Oladapo, led in evidence by his counsel, Mr Walter Oduagbaka was testifying in his trial for the July 4, 2014, murder of Fadipe, who was an activist lawyer.

    The defendant, whose testimony in Yoruba was translated in English, told the court that he was watching football on Idiagbon Street in Ifako-Ijaiye, Lagos, on the evening of the incident.

    Oladapo, whose residential address was given as 20, Oladito Street in Fagba, Lagos, said: “When I was through at the viewing centre at 10:25pm, it began to rain and I decided to take a shortcut to my house via Harmony Estate.

    “While passing through Harmony Estate, I was accosted by a group of people who demanded my identity card.

    “They claimed that I had committed an offence and I fought them. They shot my leg which made me lose consciousness and when I regained consciousness, I was at the hospital,” he said.

    The defendant denied stating in his confessional statement that he took a knife from the late Fadipe’s kitchen and demanded N500,000 from the deceased and his family.

    He said, “I did not take a knife from Fadipe’s kitchen neither did I demand N500,000 from the lawyer.

    “I also did not stab his mother-in-law to death, the police wrote that confessional statement.”

    Under cross-examination by Director of Public Prosecution (DPP) Mrs Idowu Alakija, the defendant said he couldn’t remember making the confessional statement because he was covered in blood and was unaware of his surroundings.

    The prosecution’s case is that Oladapo, armed with a kitchen knife and with intent to rob, gained forceful entry into the home of Fadipe on 1, Hamony Estate, Ifako-Ijaiye, Iju, Lagos, around 3am.

    The defendant also could not give the name of his landlord or give an accurate description of his place of residence.

    She asked Oladapo to identify himself in a photograph shown to him and when the defendant positively identified himself, Alakija told the court that the photograph was taken by the police shortly after the deceased was murdered.

    “My Lord the defendant is lying and contradicting himself. The picture is of him and was taken at the late Fadipe’s home on the night of the murder.

    “This is the same Fadipe that he had denied ever knowing or meeting while giving his evidence before this court,” Alakija said.

    Justice Oluwatoyin Ipaye adjourned the case to March 11.

  • Jubilation as Cross River workers get Dec. pay

    There was jubilation among Cross River State civil servants when their December salary was paid on Wednesday.

    Since Prof Ben Ayade became governor, his administration had been paying civil servants’ salaries on or before 25 every month.

    The governor raised the bar this month when he paid salaries on the 16.

    Mr. Steve Onoh, a civil servant with the Ministry of Finance, hailed the governor for promptly paying workers’ salaries.

    A teacher at the Government Secondary School, Uwanse, Mrs. Glory Umotong, said she first thought her bank was playing pranks on her when she got her salary alert.

    She said: “This has never happened before in the state. Governor Ayade understands the challenges of workers and has demonstrated that he is committed to workers’ welfare.”

    The teacher said it was not surprising that “the National Association of Local Government Employees (NULGE) has decided to honour Governor Ayade with the award of Best Governor with pro-workers policies in the country”.

    Mrs. Umotong said Cross River workers would continue to rally round the governor for his commitment to their welfare.

    She said: “Governor Ayade is the only governor in the country who has exempted some segments of workers from payment of tax. This governor, in the era when his colleagues are contemplating reducing work force in their states, has decided to broaden the labour space in Cross River by employing more workers. This man is humane and God-fearing. He must be commended and encouraged.”

    Also, a local government worker, Brian Inyang, noted that Cross River, under Ayade, had become the first state in improved workers’ welfare.

    He said: “Ayade has given workers renewed hope. In fact, our salaries come earlier than expected. This has never happened. The governor must be encouraged. Our prayer for him is God’s abundant blessings and wisdom to lead the state to greater heights.

    “It is obviously that under Ayade, Cross River State will be the No.1 in the country.”