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IMF Speaks On Speculations, Says “No Funding Request From Nigeria”

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The International Monetary Fund (IMF) has stated that Nigeria has not made any funding request as against ongoing speculations.

Abebe Aemro Selassie, director of the African department at the IMF, spoke during a press briefing in Washington DC.

Selassie was responding to a question on speculations within Nigeria’s business circle that the government is considering going to the fund for financing.

“No, there has not been a request for funding from the IMF in Nigeria,” Selassie said.

“To just be very clear, this is also a question that has come up in the context of some other countries. If and when countries turn to us, we hope that they do so having a very clear plan of how they want all kinds of economic reforms they want to pursue.

“And turning to us would be a way to help reduce the funding costs that they face.”

The IMF director said it is the right of every country that is in good standing with the organisation to borrow and have access to the “concessional financing that we provide. But there is no request for funding from Nigeria at the moment.”

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BREAKING: Court Fixes Date For Judgement In Kanu’s Terrorism Trial

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Justice James Omotosho of the Federal High Court in Abuja has fixed November 20 for judgment in the terrorism trial of Nnamdi Kanu, the detained leader of the Indigenous People of Biafra (IPOB).

The decision was made on Friday following Kanu’s failure to open his defence after exhausting the six days earlier granted by the court to present his case.

Justice Omotosho, while delivering the ruling, held that the defendant had ample opportunity to conduct his defence but failed to take advantage of it. He stated that since Kanu did not utilise the period allocated to him, he could not claim to have been denied his constitutionally guaranteed right to a fair hearing.

The court’s judgment on the terrorism charges filed against Kanu by the federal government is therefore expected to be delivered on November 20.

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Court Sentences Man To Three Years In Jail Over N8.5bn Wema Bank Fraud

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An Ikeja Special Offences Court has sentenced one Samuel Asiegbu to three years’ imprisonment without an option of fine for his role in an N8.56 billion fraud involving Wema Bank Plc.

The Economic and Financial Crimes Commission (EFCC) disclosed this in a statement issued on Thursday, saying that the presiding judge, Justice Rahman Oshodi, convicted and sentenced Asiegbu after he pleaded guilty to participating in the massive bank fraud.

According to the EFCC, Asiegbu was arraigned alongside other defendants on a four-count charge bordering on conspiracy, stealing, and unauthorised access to a computer system with intent to commit fraud, contrary to Sections 409 and 386 of the Criminal Law of Lagos State, 2011.

“The defendants were first arraigned on June 23, and all initially pleaded not guilty,” the EFCC stated.

“However, Asiegbu later changed his plea to guilty, prompting the court to convict and sentence him accordingly. The trial of the remaining defendants will continue.”

The commission added that Justice Oshodi sentenced Asiegbu to 10 months and 8 days’ imprisonment on count three and 1 year and 8 months on count four, both without an option of fine.

“The sentences are to run concurrently. Consequently, the court struck out counts one and two,” the statement read.

The EFCC further explained that the court ruled that the sentences would run concurrently, reaffirming that the conviction carried no option of fine, before striking out the first two counts.

The case has been adjourned to November 14 for the continuation of trial against the remaining defendants, whose names were not disclosed by the commission.

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At UBA Business Serie, Digital Entrepreneurs Highlight Authenticity, Consistency, Passion As Real Game-Changer

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, hosted another enlightening edition of the UBA Business Series, bringing together some of Africa’s most dynamic digital entrepreneurs and influencers to discuss the secrets behind building impactful online communities.

This edition of the Business Series, which had the theme, “Content that Converts: Building Influence and Driving Growth Through Strategic Marketing,” was held at the Tony Elumelu Amphitheatre in UBA Head Office, Marina, Lagos on Thursday.

The very engaging session, shed light on how authenticity, consistency, and passion remain true cornerstones of success in the ever-evolving digital landscape, while the content creators shared first-hand experiences from their journeys across diverse industries and markets.

UBA’s Group Head, Digital Banking, Kayode Olubiyi, who welcomed participants and the panellists to the session, reaffirmed the bank’s commitment to empowering entrepreneurs across Africa through knowledge-sharing and capacity-building initiatives such as the Business Series.

He emphasised that the quarterly event continues to serve as vital avenues for supporting innovation and entrepreneurship, equipping individuals with practical insights to grow their brands and businesses in a competitive digital economy.

In his keynote address, the Managing Director/CEO at Nitro 121, Dr. Lampe Omoyele, who said that “You can create something out of what appears to be nothing,” gave insight on key trends to develop content that creates Impact.

He noted that content creation should go beyond aesthetics or trends to focus on value, purpose, and agility as he pointed out that creators who aim to make a difference must develop a clear personal brand identity and remain consistent in delivering messages that resonate with their audience.

The panel session featured an impressive line-up of digital entrepreneurs and content creators, including Digital Creator and Actor, Elozonam Ogbolu; Digital Health Educator, Chinonso Egemba (Aproko Doctor); Kenyan Actress and Media Entrepreneur, Catherine Kamau; Content Creator, Nasiru Lawal (Nasboi) and Digital Influencer, Enioluwa Adeoluwa, who was also the moderator of the event.

Growth is very important, says Nasiru Lawal. “For the younger creators here, my best advice is this: please prioritise your growth. As a creator, the moment you become famous, you no longer move at your own pace; you move at the people’s pace. It is therefore important to ensure you grow consistently and then overtime, the recognition and the money begins to roll in.”

Elozonam Ogbolu who agreed with Lawal, had this to say: “Content creators have to engage their audience with proper storytelling, because brands are always out to carefully choose their creators. For the brands, you must pick your influencer or ambassador very deliberately and work together over time to grow. That is when you will see a proper return on investment.

In his submission, Chinonso Egemba, said, “If you’re building a business or doing content creation, treat content creation as a business. When you treat it as a business, it needs proper structure. Otherwise, it won’t last. If you don’t put structure in place, you’ll end up responsible for everything, and that leads to burnout. You have to build structure, because if you want longevity, structure is very essential.

For Catherine Kamau, it is important for content creators to find a balance and stay close to their community. “What I realized is I have a community that keeps me grounded, and that’s family. When you get famous, you tend to forget where you come from, you know, social media is an illusion and you start assuming that it is your real family until bad things happen to you. So please remember the real people in your life, because fame can get to your head, but those are not the people who are going to have your back when things go south.”

The creators while sharing their diverse experiences, they collectively emphasized that building a personal brand should take precedence over chasing financial gain. They also underscored the importance of originality, urging young creators to find their unique niche rather than replicating what others have done.

UBA’s Group Head of Marketing and Corporate Communications, Alero Ladipo, who commended panellists for taking time to share their useful insights at the event, took time to celebrate the UBA Management for organising conversations like this which according to her, ‘remain impactful and will impact not just the individual customers, but also the economies at large.”

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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