Echotitbits – Nigeria News

Tag: Punch Nigeria

  • Nigeria’s FDI jumps to $720m in Q3 as investor appetite rebounds

    Nigeria’s FDI jumps to $720m in Q3 as investor appetite rebounds

    2025-12-31 08:14:00

    In an update published by PUNCH, the Central Bank of Nigeria’s balance-of-payments data shows foreign direct investment rose to about $720 million in Q3 2025—well above the prior quarter—signalling stronger long-term capital flows.

    The report links the uptick to improved long-term equity participation and reinvested earnings, with broader macro indicators providing a friendlier backdrop for foreign investors.

    While portfolio flows can swing fast, FDI is the stickier vote of confidence—typically tied to longer-horizon commitments and real-economy decisions.

    Validation: Radio Now said “Foreign direct investment into Nigeria jumped sharply to $720 million in the third quarter of 2025, up from $90 million in the second quarter.” and The Will reported “jumped to $720m in Q3 2025… marking the highest level this year.”

    Echotitbits take: The headline is strong, but sustainability matters more than a one-quarter spike. Watch Q4/Q1 continuity, sector breakdowns, and whether FX-market stability remains credible enough for long-term investors.

    Source: The Punch — 31 December 2025 (https://punchng.com/nigeria-attracts-720m-fdi-as-foreign-investment-rebounds/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • CBN projects FX reserves could hit $51bn by 2026

    CBN projects FX reserves could hit $51bn by 2026

    2025-12-31 08:21:00

    Figures cited by PUNCH show the Central Bank of Nigeria expects external reserves to climb to about $51.04bn in 2026, up from a projected $45bn in 2025, based on assumptions about FX-market conditions and inflows.

    The forecast is tied to the CBN’s 2026 macro outlook, leaning on expectations of reduced pressure in the FX market, improved export earnings, and higher remittance inflows.

    CBN also points to refining capacity and broader reforms as potential tailwinds that reduce import pressure and support reserve accumulation over time.

    Validation: Channels Television said “The external reserves are projected at $51.04bn in 2026, compared with $45.01bn in 2025.” and The Guardian reported “external reserves… to rise to US$51.04 billion.”

    Echotitbits take: This projection is optimistic—and markets will judge credibility by liquidity and transparency. Watch the drivers: oil receipts, diaspora remittances, and whether FX spreads truly narrow across official and parallel windows.

    Source: The Punch — 31 December 2025 (https://punchng.com/fx-reserves-to-hit-51bn-by-2026-cbn/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • GTCO moves to raise ₦10bn via private placement as recapitalisation pressure builds

    GTCO moves to raise ₦10bn via private placement as recapitalisation pressure builds

    2025-12-31 08:28:00

    As reported by PUNCH, Guaranty Trust Holding Company (GTCO) says it will raise ₦10bn through a private placement involving 125 million ordinary shares, positioned within its regulatory and capital-raising framework.

    The company says the transaction follows relevant guidelines for financial holding companies, and it’s structured as a targeted placement rather than a broad public offer.

    In a market where banks are racing to meet higher capital thresholds, deals like this signal a preference for faster, cleaner capital injections—especially if investor demand is solid.

    Validation: Investegate said “undertaking a private placement to raise ₦10 billion by issuing 125,000,000 ordinary shares at ₦80 per share.” and TheCable reported “has secured approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).”

    Echotitbits take: Private placements are speed tools—good for timelines, but they test investor appetite and pricing discipline. Watch the pricing mechanics, investor mix, and whether more tier-1 banks follow with similar structures.

    Source: The Punch— 31 December 2025 (https://punchng.com/gtco-to-raise-n10bn-through-private-placement/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • Afreximbank-backed “gold bank” initiative takes shape with Egypt partnership

    Afreximbank-backed “gold bank” initiative takes shape with Egypt partnership

    2025-12-31 08:35:00

    In coverage from PUNCH, Afreximbank is moving toward a pan-African “gold bank” concept via a formal partnership with Egypt’s central bank, aimed at building structured value chains around Africa’s gold sector.

    The initiative is being framed as an institutional push to formalise gold trade, strengthen reserves management options, and reduce fragmentation that often leaves value outside producer economies.

    For African commodity strategy, the bigger idea is shifting from “raw export” to financeable, standardised flows that can support industrial policy, reserves, and cross-border trade.

    Validation: Afreximbank said “Memorandum of Understanding… for the Establishment of a Gold Bank programme in Egypt.” and Egypt Today reported “to establish a gold bank aimed at transforming Africa’s gold industry.”

    Echotitbits take: If executed well, this could be a template for commodity-backed trade finance that keeps more value within Africa. Watch for governance details, bullion standards, custody frameworks, and how smaller producer states are brought in.

    Source: Tanzaniatimes — 31 December 2025 (https://tanzaniatimes.net/egypt-and-afreximbank-to-establish-a-pan-african-gold-bank/)

    Tanzaniatimes 31 December 2025

    Photo Credit: Tanzaniatimes

  • US plans to deport Nigerian national linked to Bloods gang after multiple convictions

    US plans to deport Nigerian national linked to Bloods gang after multiple convictions

    2025-12-31 08:42:00

    According to PUNCH, US immigration authorities say they plan to deport Ibrahim Ijaoba, a Nigerian national described as a former member of the Bloods gang, following convictions including armed robbery and drug-related offences.

    The report says the case is being driven by US Immigration and Customs Enforcement (ICE), with officials emphasising his immigration status and criminal record as the basis for removal.

    The development sits within a wider US enforcement trend where immigration violations combined with violent felony convictions accelerate deportation actions.

    Validation: Premium Times said “over multiple criminal convictions, including armed robbery and drug sales.” and The Guardian reported “following his conviction for multiple violent crimes, including armed robbery, drug sales and aggravated assault.”

    Echotitbits take: Deportation stories often ripple into diaspora community politics—especially when they touch gangs and public safety. Watch whether Nigerian authorities comment, and whether there’s a broader enforcement wave tied to specific categories of offenders.

    Source: The Punch — 31 December 2025 (https://punchng.com/us-to-deport-nigerian-over-gang-membership/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • EFCC arraigns Malami, wife, son over alleged ₦8.7bn money laundering

    EFCC arraigns Malami, wife, son over alleged ₦8.7bn money laundering

    2025-12-31 08:49:00

    In a report carried by PUNCH, the EFCC has arraigned former Attorney-General Abubakar Malami alongside his wife and son in an Abuja court over alleged ₦8.7bn money laundering, with proceedings focusing on the agency’s stated charges and the defendants’ responses.

    The case is one of the most politically sensitive anti-graft developments of the period, given Malami’s former role at the centre of federal legal and justice architecture.

    Beyond courtroom drama, the prosecution’s ability to present clean money trails—and the defence’s ability to challenge them—will shape how the public reads the credibility of the anti-corruption push.

    Validation: EFCC said “a 16-count charge bordering on conspiracy… and laundering proceeds of unlawful activity.” and Premium Times reported “conspired to disguise the origin of funds… in violation of the Money Laundering… Acts.”

    Echotitbits take: This is a test-case for high-profile prosecution quality—paperwork, evidence integrity, and judicial pace. Watch adjournments, bail terms, and whether related asset actions (if any) emerge.

    Source: The Punch — 31 December 2025 (https://punchng.com/money-laundering-malami-wife-son-to-spend-new-year-in-prison/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • Military reports arrest of suspected suicide bomber; 189 AK-47s recovered in NW ops

    Military reports arrest of suspected suicide bomber; 189 AK-47s recovered in NW ops

    2025-12-31 08:56:00

    In an update published by PUNCH, the Nigerian military says operations led to the arrest of a suspected suicide bomber in Borno and the recovery of 189 AK-47 rifles in the North-West, alongside ammunition seizures and kidnapping-rescue outcomes.

    The report says troops also intercepted materials described as precursors for improvised explosive device production, framing the actions as intelligence-led efforts to disrupt planning and logistics.

    In the North-West claim-set, the military also highlighted wider results under Operation Fasanyama, including recovered weapons and rescued victims across multiple states.

    Validation: Voice of Nigeria said “a potential terror attack was averted in Borno State as troops… arrested a suspected suicide bomber and intercepted materials.” and HQ Nigerian Army reported “TROOPS APPREHEND SUSPECTED SUICIDE BOMBER, INTERCEPT IED MATERIALS IN BORNO.”

    Echotitbits take: Counterterrorism reporting is increasingly contested—note the competing institutional claims and the need for independent verification. Watch for official follow-up briefings, prosecutions, and community-level impact in affected areas.

    Source: The Punch — 31 December 2025 (https://punchng.com/military-arrests-suicide-bomber-recovers-189-ak-47-rifles/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • AFCON 2025: Nigeria finish group stage perfect after 3–1 win vs Uganda

    AFCON 2025: Nigeria finish group stage perfect after 3–1 win vs Uganda

    2025-12-31 09:03:00

    In a dispatch by PUNCH, Nigeria beat Uganda 3–1 to close the group stage with a perfect points haul, with Paul Onuachu scoring and Raphael Onyedika netting twice as Uganda’s game collapsed after a red card.

    The result reinforced Nigeria’s depth, coming amid squad rotation, while also underlining the tournament’s fine margins—one dismissal can swing the entire tactical balance.

    For Uganda, the loss confirmed elimination, while Nigeria’s momentum now carries into the knockout phase with confidence and options.

    Validation: Reuters said “Onyedika nets twice for Nigeria with Onuachu also on target.” and Al Jazeera reported “Raphael Onyedika has scored twice, and Paul Onuachu has netted his first international goal in four years.”

    Echotitbits take: Nigeria’s biggest advantage is depth—if the team avoids suspensions and manages minutes well, they can outlast most opponents. Watch for injury updates and how the coach balances rotation vs rhythm in the last-16 tie.

    Source: The Punch — 31 December 2025 (https://punchng.com/afcon-2025-nigeria-beats-uganda-3-1/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • Toyin Abraham’s ‘Oversabi Aunty’ Crosses ₦380m in 11 Days, Distributor Says

    Toyin Abraham’s ‘Oversabi Aunty’ Crosses ₦380m in 11 Days, Distributor Says

    2025-12-30 14:00:00
    According to Punch, FilmOne Entertainment announced that Toyin Abraham’s “Oversabi Aunty” has grossed over ₦380 million in 11 days, with an updated figure published as of December 29.
    The update positions the film as one of the season’s strongest cinema performers, keeping momentum alive through verified public box-office numbers.
    Online amplification has helped sustain the storyline beyond opening weekend, as fans track progress against other holiday releases.

    Vanguard also carried the same update, repeating the phrase “Oversabi box office takeover,” while Film/industry Instagram pages posted “grossing over N380 million in just 11 days…”

    Echotitbits take:
    Weekly verified numbers are becoming a content engine for Nollywood. Watch for overseas screening rollouts, extended runs, and whether competing releases trigger another “numbers weekend” as studios chase holiday dominance.
    Source: Punch — December 29, 2025 — https://punchng.com/toyin-abrahams-oversabi-aunty-film-grosses-over-%e2%82%a6380m-in-11-days/?amp=
    Punch
    2025-12-29
    Photo Credit: Nollywood Reporter

  • Allwell Ademola Tributes Continue as Family Clarifies Key Details

    Allwell Ademola Tributes Continue as Family Clarifies Key Details

    2025-12-30 18:00:00
    In an update carried by Punch, the family of late actress/producer Allwell Ademola mourned her and clarified details that have been circulating publicly as tributes continue to spread.
    Guardian Life also reported the death and noted the wave of colleague and fan reactions, keeping the story trending as more memorial posts appear.
    While the passing occurred earlier in the week, the topic remains active as the industry shares memories and audiences seek reliable information.

    Guardian Life’s report described her as having “died at the age of 49,” while Punch noted the family’s clarification on her age in its coverage.

    Echotitbits take:
    When grief is public, misinformation can spike. The responsible move is to rely on family statements and reputable outlets, avoid speculating about causes, and watch for official burial/funeral information from trusted channels.
    Source: The Punch — December 28, 2025 — https://punchng.com/family-mourns-late-nollywood-actress-allwell-ademola/
    The Punch
    2025-12-28
    Photo Credit: The Punch