Author: Prima News

Deap Capital Management & Trust Plc has completed its transition to Critical Minerals Financing Corp. Plc (CMFC Plc) following the receipt of all required regulatory approvals and filings. The company disclosed the development in a notice to the Nigerian Exchange Limited (NGX) and the investing public on June 18, 2026, stating that the transition reflects its evolution into a specialized financing and investment platform focused on the critical minerals value chain. As part of the transformation, CMFC Plc has relocated its corporate headquarters to Number One Lagos, 1 Akin Adesola Street, Victoria Island, Lagos, positioning the company within Nigeria’s financial…

  The Nigerian Academy of Engineering (NAE) has thrown its weight behind ongoing reforms in the power sector, urging the federal government to adopt stronger engineering-driven solutions to address Nigeria’s infrastructure deficits, including electricity supply, climate resilience and urban sanitation. The academy’s president, Rahamon Bello, made the call on Tuesday during a press briefing at its secretariat in the Chemical and Petroleum Engineering Complex, University of Lagos, Akoka, ahead of its 2026 apex events. He stated that the academy had spent the past year deepening its role as a technical think tank, producing policy papers and engaging government on what…

Chibuzor Ezeh has left Kwara United following the expiration of his contract, DAILY POST reports. Ezeh joined the Harmony Boys at the start of the 2024-25 NPFL season. The forward is expected to join a new club before the commencement of the new campaign. He struggled to make an impact with the Ilorin-based side in the NPFL last season. Ezeh will be aiming for more playing time and a fresh start with his new club. Source link

England failed to reproduce the attacking display that saw them beat Croatia in their opening World Cup match as they were held to a goalless draw by Ghana at Boston Stadium. A win would have secured England’s place in the last 32, but Thomas Tuchel’s side were frustrated by a well-organised Ghana team that defended strongly throughout the game. England struggled to create clear chances and had to wait until the 57th minute for their first shot on target. They also looked vulnerable at the back, with Ghana threatening on several counter-attacks in a scrappy contest. Tuchel introduced Bukayo Saka,…

Actress and media personality Nancy Isime has suggested that truly loving children could, in some cases, mean choosing not to bring them into the world because of life’s challenges. The actress made the remark during a recent appearance on the Thanks For Coming podcast which started trending on X on Tuesday, while responding to a question about how many children she hopes to have. According to Isime, the hardships people face in life made her question whether having children is always the best decision. “You know the craziest thing about loving children? I feel like if you really love children,…

Malaria wasn’t on Masaki Umeda’s mind when his drone startup, SORA Technology, launched in 2020 in Nagoya, Japan.Back then, he and his colleagues were focused on getting medical supplies to hard-to-reach parts of Africa but, after talking to health ministries, they realised their AI-powered solutions would be more useful in the fight against the devastating disease, which kills over half a million people on the continent every year. © SORA Technology Masaki Umeda, co-founder of SORA Technology. “We fly drones in targeted areas and collect raw data,” explains Mr. Umeda. “Then the AI tools identify the location and characteristics of…

For decades, credit risk assessment in Nigeria has rested on an incomplete foundation. Lenders—whether deposit-money banks, microfinance institutions, or digital finance operators—price credit largely based on data they alone have collected about a borrower. This institutional insularity is often deliberate, and it costs the Nigerian borrower dearly. The concept we advance here, Personal Equity, challenges this status quo at its root. Personal equity is the quantified expression of an individual’s financial behaviour, aggregated across every institution with which they have transacted and translated into a precise, portable measure of creditworthiness. It is, in essence, a person’s credit identity—not as a…

In February, Beltone Holding, an Egypt-headquartered financial services group with operations in investment banking and asset management, spent $227.13 million (€197.6 million) to acquire Baobab Group. Three months later, the lender generated more revenue than all of Beltone’s other businesses combined. Baobab contributed 53% of Beltone’s EGP6.8 billion ($136.68 million) operating revenue in the first quarter of 2026, making it the group’s single largest business line, according to the company’s financial results.  Its gross lending portfolio grew by 236% year-on-year to EGP101.1 billion ($2.03 billion) in the first quarter. Baobab alone contributed EGP60.9 billion ($1.22 billion), meaning roughly six out…

Three aspirants for the House of Representatives seat in Ojo Federal Constituency, Lagos State, on the platform of the Nigeria Democratic Congress have petitioned the party’s national leadership, alleging that no valid primary election was conducted and that a candidate was imposed on them. The aggrieved aspirants, led by Godwin Ezeoke, called on the party to cancel the outcome of the exercise and conduct a fresh primary. In a petition obtained by our correspondent on Tuesday and addressed to the National Chairman through the National Secretary, Ezeoke alleged that party officials announced a winner despite the absence of a primary…

The Manufacturers Association of Nigeria has expressed concern over the sharp decline in commercial bank credit to the manufacturing sector. It warned that the trend could undermine industrial growth, job creation, and economic diversification. The Director-General of MAN, Mr Segun Ajayi-Kadir, made this known in a statement on Tuesday in Lagos while reacting to credit allocation data for 2025. According to him, “commercial bank credit to manufacturing fell by N1.92 trillion, from N8.53 trillion in December 2024 to N6.61 trillion in December 2025, representing a 22.5 per cent year-on-year contraction.” Ajayi-Kadir described the decline as disturbing, noting that manufacturing recorded…