Daily Economy

Odu’a Investment, Elektron Energy partner on 50MW Ogba Power Plant to boost Lagos industrial energy supply Nike Popoola

Odu’a Investment Company Limited (“Odu’a Investment”) has entered into a strategic partnership with Elektron Energy Development Strategies Limited (“Elektron”), a leading embedded power developer focused on delivering reliable, scalable energy infrastructure, to develop a 50-megawatt (MW) gas-fired Independent Power Plant (IPP) at the former Cocoa Industries Limited (CIL) Complex within the Ogba Industrial Estate in Ikeja, Lagos.

This deal was signed in Lagos on Thursday. Present at the signing ceremony were Dr Demola Sogunle, Chairman Stanbic IBTC Pension, Mr Olawale Moronkeji, Chief Operating Officer Phillips Consulting, Mr Irawola Ayodeji, Chairman Aggregate Utilities, the Board of Odu’a and subsidiaries and MDs of subsidiary companies
The IPP will deliver dedicated, reliable electricity directly to industrial and commercial users within

Odu’a Investment, Elektron Energy partner on 50MW Ogba Power Plant to boost Lagos industrial energy supply Odu’a Investment Company and Elektron Energy have partnered to develop a 50MW gas-fired Independent Power Plant in Ogba, Lagos, aimed at improving reliable electricity supply for industrial and commercial users while boosting productivity and economic growth.

Fidelity Bank advocates for inmates’ welfare with donation to Enugu Custodial Centre


Nike Popoola

Tier one lender, Fidelity Bank Plc has reaffirmed its commitment to health and social welfare with the donation of food and essential items to inmates at the Enugu Maximum Security Custodial Centre.

The outreach was carried out by the newly inducted Legacy Class of 2026 and executed under the bank’s flagship Corporate Social Responsibility (CSR) platform known as the Fidelity Helping Hands Project (FHHP). Through the FHHP, staff identify areas of critical interventions in their immediate communities, raise funds and then receive matching financial support from the bank’s management to execute the projects.

Items donated by the Legacy class include a range of food supplies such as garri, spaghetti, noodles, biscuits, milk, and other essential consumables aimed at supporting the welfare and living conditions of inmates at the facility.

Speaking on the visit,

Fidelity Bank advocates for inmates’ welfare with donation to Enugu Custodial Centre Fidelity Bank Plc supports inmate welfare with food donations to Enugu Custodial Centre through its CSR initiative, the Fidelity Helping Hands Project.

NAICOM, UNDP strengthen partnership to scale insurance innovation, sustainability, climate risk resilience Nike Popoola

The Commissioner for Insurance (CFI), Mr. Olusegun Ayo Omosehin, received a delegation from the United Nations Development Programme (UNDP) on a courtesy visit to the National Insurance Commission (NAICOM), aimed at deepening collaboration and setting strategic priorities to expand insurance access, enhance market stability, and scale climate and disaster risk solutions across Nigeria.

Speaking during the visit, the UNDP Regional Specialist, Mr. David Mueller, expressed appreciation for the Commission’s leadership and reaffirmed UNDP’s commitment to supporting Nigeria’s insurance sector. He highlighted UNDP’s interest in scaling the Lagos Flood Risk Insurance Model, strengthening systemic capacity, including actuarial development and enabling insurers to mobilize domestic capital for sustainable investment.

The UNDP delegation also pledged continued

NAICOM, UNDP strengthen partnership to scale insurance innovation, sustainability, climate risk resilience National Insurance Commission and United Nations Development Programme strengthen partnership to boost insurance innovation, climate risk resilience, and industry reforms across Nigeria.

Ecobank announces fifth edition of Adire Lagos Experience


Nike Popoola

Ecobank Nigeria, a subsidiary of the leading Pan‑African financial services group, Ecobank Group, has announced the fifth edition of the Adire Lagos Experience, its flagship cultural and creative industry showcase. The event will take place from June 11–14, 2026, at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.

The 2026 edition is themed “Threads Across Borders,” celebrating the depth and global resonance of Adire as a uniquely Nigerian art form, while positioning it within Africa’s broader textile and cultural narrative. Rooted in Nigeria’s rich heritage, the Adire Lagos Experience continues to serve as a gateway for cross‑border cultural exchange, reinforcing Ecobank’s Pan‑African vision through culture‑led commerce.

The four‑day event will feature over 100 vendors, with the exhibition remaining predominantly Nigerian, reflecting the country’s leadership as

Ecobank announces fifth edition of Adire Lagos Experience Ecobank Nigeria announces the fifth Adire Lagos Experience in 2026, celebrating Nigerian Adire craftsmanship and promoting Pan-African cultural and creative exchange.

Barcelona files UEFA complaint over Atlético refereeing errs

Abdullateef Fowewe

FC Barcelona has lodged a formal complaint with UEFA over refereeing in their Champions League quarter-final against Atlético Madrid, where they were eliminated 3-2 on aggregate (0-2 first leg, 1-2 second leg).

“Across both legs of the tie, several refereeing decisions were made that did not comply with the Laws of the Game, resulting from an incorrect application of the regulations and a lack of appropriate intervention by the VAR system,” the club stated.

Barcelona claims the errors “had a direct impact on the course of the matches and on the final outcome,” causing “significant sporting and financial harm.”

They reiterated prior requests and offered to “collaborate with the organisation to ensure a more rigorous, fair and transparent application of the Laws of the Game.”

However, the move has drawn fan criticism for not accepting defeat.

Barcelona files UEFA complaint over Atlético refereeing errs FC Barcelona files a complaint to UEFA over alleged refereeing errors in their Champions League loss to Atlético Madrid.

Cardoso highlights March wins in banking reforms, global ties

Abdullateef Fowewe

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso has recapped March 2026 achievements, underscoring consolidation and global engagement.

The governor in a remark shared via X on Thursday reads, “March was defined by consolidation at home and continued engagement with global partners, culminating in the successful conclusion of the banking-sector recapitalisation programme.”

Banks raised ₦4.65 trillion in new capital over two years, boosting resilience and lending.

Domestically, Cardoso met Finance Minister Wale Edun “to review progress and reinforce alignment between fiscal and monetary policy.”

The CBN also added responsibly sourced gold to reserves via the National Gold Purchase Programme, “diversifying reserves, preserving foreign exchange.”

Internationally, Cardoso joined the Africa Capital Forum in London during President Tinubu’s UK visit, and met

Cardoso highlights March wins in banking reforms, global ties Olayemi Cardoso highlights March 2026 gains as the Central Bank of Nigeria advances banking reforms, boosts reserves, and strengthens global financial ties.

Nigeria’s National Grid celebrates ‘no collapse’ streak amid public skepticism

Abdullateef Fowewe

Nigeria’s National Grid has taken to X on Thursday to tout a rare streak of stability, declaring no full system collapses in February, March, April, and counting.

The announcement highlights a shift from January’s multiple blackouts, framing it as significant progress in the country’s beleaguered power sector.

“No grid collapse in February, March, April and Counting. Progress..,” the official account posted, emphasising three straight months without a total system failure.

Public reactions, however, have been far from celebratory.

Replies flooded in with mockery, pointing out that dodging collapses doesn’t mean reliable power. Users lamented daily supply limited to just a few hours in many areas, or complete blackouts despite the grid’s claims.

One top reply read, “Progress? My area has had 4 hours of light total this month—congrats on

Nigeria’s National Grid celebrates ‘no collapse’ streak amid public skepticism Nigeria National Grid reports three months without collapse, but Nigerians question reliability amid persistent power outages and supply challenges.

Nigeria Police extradite murder suspect to UK
Abdullateef Fowewe

The Nigeria Police Force has extradited Matthew Chukwuemeka Adebiyi to the United Kingdom to face murder and drug trafficking charges.

DCP Anthony Okon Placid, Force Public Relations Officer, said in a statement on Thursday, “The Nigeria Police Force, through the INTERPOL National Central Bureau (NCB) Abuja, has successfully facilitated the extradition of one Matthew Chukwuemeka Adebiyi to the United Kingdom to face charges bordering on murder and drug trafficking.”

Adebiyi allegedly murdered Joshua Boadu on June 18, 2018, and supplied crack co***ne from October 2017 to March 2018.

He fled to Nigeria but was arrested on January 23, 2025.

On February 16, 2026, Justice A.O. Faji approved extradition at the Federal High Court in Lagos.

He was handed over to UK officials on April 14, 2026, at Murtala Mohammed International Airport.

IGP Olatunji Rilwan Disu added I the statement, “The Nigeria

Nigeria Police extradite murder suspect to UK The Nigeria Police Force extradites a murder and drug trafficking suspect to the UK, reinforcing international cooperation against crime and fugitives.