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Two New Universities To Be Approved Next Week — NUC

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The National Universities Commission (NUC), said preparations are being finalised to announce the opening of two new universities in the nation, bringing the overall number of educational establishments to 272.

Chris Maiyaki, the interim executive secretary of the commission, made this statement on Thursday while speaking with reporters in Abuja.

According to Maiyaki, the NUC will keep approving new colleges in order to close the nation’s admissions gap.

He pointed out that although two million applicants apply to institutions annually, there are only between 500,000 and 700,000 spots available for admission.

Maiyaki’s stance comes amidst the fight of the Academic Staff Union of Universities and other stakeholders in the tertiary education sub-sector against the proliferation of institutions in the country by the government at the Federal and State levels.

Stakeholders on numerous occasions said the establishment of new universities amidst poor funding of existing ones was not the way to go and hence had called on the government and the NUC to halt approvals given to new public universities.

“We have no choice but to as a matter of deliberate policy undertake the massification of universities,” Maiyaki said.

He said what separates the developed today from other countries is the level of investments in education.

Maiyaki said every year, almost two million candidates seek admission into the universities but only between 500,000 and 700,000 students get admitted.

He said, “You need to see the anguish and the frustration on the faces of families who are desperate to make sure that their children attend university education every admission session. It is very tough and challenging for university leaders and NUC and so we have no choice but to continue to approve the universities.

“The approval for two more varsities to bring the number of universities in the country to 272 has been concluded and will be announced next week.”

He maintained that Nigeria will continue to widen universities’ access by approving more universities to meet its demands and supply of quality education.

While noting that countries like Brazil, Indonesia and others who have a population not up to Nigeria have more than 1,000 universities, he said efforts were ongoing to reposition the university system through transnational education by allowing foreign varsities to come in and operate in the country.

The Executive Secretary said the commission is presently processing applications for the establishment of distance learning centres that will be monitored to provide quality education.

The NUC boss, however, stressed that it does not mean the era of establishing distance learning centres is back.

Reacting to a statement by the Economic and Financial Crimes Commission inviting proprietors of private universities and other institutions of higher learning in Nigeria to charge fees in dollars, he said no tertiary institutions is allowed to charge tuition fees in dollars.

He said the commission had made an inquiry into the allegation and thus investigated but discovered that the said private university was not charging fees in dollars.

“On the dollarisation of tuition fees in this said university, we have investigated it and the university is not charging fees in dollars.

They only charge dollars to foreign students. So I want the media to join hands with us to tell the public that no Nigeria university is allowed to charge fees in dollars,” he said.

BIG STORY

BREAKING: GTCO Becomes First Banking Stock To Exceed N100 On NGX

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Guaranty Trust Holding Company has achieved a strong mid-market showing during the July 16, 2025, trading session, surpassing the N100 milestone.

This makes GTCO the first banking stock listed under the NGX Banking Index to cross the N100 benchmark, while Stanbic IBTC Holdings remained just below at N99.

The upward movement aligns with the broader positive sentiment in the banking sector, where the NGX Banking Index has gained over 22% so far in July.

The development follows GTCO’s recent dual listing, which involved 2.29 billion ordinary shares being listed on the London Stock Exchange on July 9, 2025, and another 2.28 billion shares added to the Nigerian Exchange the next day.

The stock’s rise appears driven by investor response to its cross-border listing and its strong Q1 2024 financial performance. Month-to-date, GTCO has posted a gain exceeding 27%.

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BIG STORY

BREAKING: Atiku Abubakar Resigns From PDP

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The presidential flagbearer of the Peoples Democratic Party in the 2023 general elections, Alhaji Atiku Abubakar, has officially withdrawn his membership from the opposition party.

Atiku submitted his resignation ahead of the 2027 general elections, following confirmation of his involvement in forming a new coalition known as the Alliance Democratic Congress.

The resignation was contained in a letter dated Monday, July 14, 2025, and addressed to the chairman of the PDP in Jada 1 ward, Jada Local Government Area, Adamawa State.

A copy of the letter was shared on X by the Special Assistant on Media to the former Vice President on Wednesday.

The letter stated, “I am writing to formally resign my membership from the People’s Democratic Party (PDP) with immediate effect.

“I would like to take this opportunity to express my profound gratitude for the opportunities I have been given by the party.

“Serving two full terms as Vice President of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life.

“As a founding father of this esteemed party, it is indeed heartbreaking for me to make this decision.

“However, I find it necessary to part ways due to the current trajectory the party has taken, which I believe diverges from the foundational principles we stood for. It is with a heavy heart that I resign, recognising the irreconcilable differences that have emerged.

“I wish the party and its leadership all the best in the future. Thank you once again for the opportunities and support.”

 

More to come…

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BIG STORY

EFCC To Appeal Ruling Acquitting Fayose Of Money Laundering Charges

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The Economic and Financial Crimes Commission (EFCC) says it will challenge the judgment that cleared Ayodele Fayose, former governor of Ekiti state, of money laundering and fraud accusations.

In his decision on a no-case submission, Justice Chukwujekwu Aneke ruled that the prosecution did not provide enough evidence to require Fayose to present a defence.

After the judgment, EFCC counsel Rotimi Jacobs stated that the commission would obtain the certified judgment and begin the appeal process.

Fayose and his company, Spotless Investment Limited, had been re-arraigned on an 11-count charge of laundering ₦6.9 billion, allegedly during his time as governor.

The charges included allegations that Fayose received ₦1.2 billion for his 2014 campaign and accepted $5 million in cash from Obanikoro, bypassing standard banking procedures.

He was also accused of laundering several sums and using over ₦1.6 billion to purchase properties via proxies and firms such as De Privateer Ltd and Still Earth Ltd, contrary to the Money Laundering (Prohibition) Act, 2011.

During the May 19 no-case submission, Kanu Agabi, Fayose’s lawyer, argued that the prosecution failed to prove its case and pointed out that Abiodun Agbele, allegedly central to the transactions, wasn’t charged, which weakened the EFCC’s position.

“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi stated.

He asked the court to find that Fayose had no case to answer.

Olalekan Ojo, lawyer for the second defendant, also submitted a separate no-case application dated March 21, 2025, with supporting documents filed on May 16.

Ojo contended that the main evidence provided by the prosecution, particularly Obanikoro’s testimony, was unreliable since he confirmed there was no direct communication between Fayose and Sambo Dasuki, the former national security adviser.

Jacobs, however, urged the judge to dismiss the no-case submissions, arguing that there were unexplained financial activities that needed clarification.

He questioned why Fayose didn’t use his personal account if the money was legitimate, referencing EFCC investigator Abubakar Madaki’s claim that Fayose acquired properties through associates who later denied ownership, even though Fayose admitted the properties were his.

“If the money was clean, why not buy the properties in his name?” Jacobs asked.

He also referred to Obanikoro’s account that Fayose requested the money in cash and introduced Agbele to receive it, saying Fayose must explain these actions.

Despite these arguments, the court ruled in favour of the defendants and granted the no-case submission.

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