Author: TheLagosianMagazine

BY OLUWABUKOLA RACHAEL Despite inflation, currency swings, and rising costs, Lagos’ high-end property market in Ikoyi, Victoria Island, and Banana Island continues to attract billionaires, expatriates, and investors, with demand showing no signs of slowing. Nigeria’s economy may be navigating one of its toughest periods in decades, yet luxury real estate in Lagos has proven remarkably resilient. From sprawling mansions to waterfront villas, prime properties in the city continue to sell for eye-watering sums often starting at ₦800 million and climbing into the billions. What Fuels the Market? Scarcity of Land Lagos is surrounded by water, limiting land availability in…

By Peter Omopo The United Nations has sounded the alarm over a worsening global water crisis, with a new joint report from the World Health Organisation (WHO) and UNICEF showing that more than two billion people still lack access to safely managed drinking water. Despite some progress, the study warns that at the current pace, the world is far from achieving universal access to water, sanitation, and hygiene by 2030—jeopardising public health and exposing billions, particularly women and children, to heightened risks. Against this sobering backdrop, LAPO Microfinance Bank (LAPO MfB) is reaffirming its commitment to Sustainable Development Goal (SDG)…

By Peter Omopo The National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, has described his predecessor, Abdullahi Ganduje, as “Co-Chairman” of the ruling party, pledging to rely on his experience and political networks to consolidate the APC. Yilwatda made the remarks in Abuja on Wednesday during a condolence visit by Ganduje, a former Kano State governor, over the death of his mother. He disclosed that President Bola Tinubu had instructed him to work closely with the immediate past APC chairman in running party affairs. “My doors are open, the office is open, the partnership remains open, and the…

By Peter Omopo A non-governmental organisation, the Nigerian Forum for Integrity (NFI), has called on President Bola Tinubu to ignore what it described as a coordinated campaign of blackmail against the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari. Speaking at a press conference in Abuja on Wednesday, NFI’s Executive Secretary, Nelson Idoko, dismissed the protest staged at the NNPC Towers by a group claiming to represent Niger Delta youths as “laughable and stage-managed.” The protesters had accused Ojulari of corruption and mismanagement, demanding his resignation and insisting that the leadership of NNPCL should…

By Peter Omopo A court in Equatorial Guinea has sentenced the son of President Teodoro Obiang Nguema Mbasogo to six years in prison after finding him guilty of illegally selling a national aircraft. Local reports said the president’s son, whose name was not immediately disclosed by authorities, was convicted of abuse of office and misappropriation of state property. The case centred on his role in the controversial sale of a government-owned plane without due process. The ruling marks one of the rare high-profile convictions in the oil-rich Central African nation, which has long faced criticism over corruption and governance practices.…

By Peter Omopo Nigeria’s largest carrier, Air Peace, has inaugurated a direct Lagos–São Paulo flight, marking a historic step in the nation’s aviation sector and strengthening ties with Brazil. The milestone came on the heels of a bilateral aviation agreement signed in Brasília, witnessed by President Bola Tinubu. The pact paves the way for Nigerian airlines to operate passenger and cargo services on the South American route. On Wednesday, the Presidency shared images of the signing and a video of the Aviation Minister addressing the inaugural flight, describing the development as proof that Nigerian carriers can “compete on global routes”…

By Peter Omopo The Edo State Parole Board has reviewed 13 applications for parole from inmates of the Medium Security Custodial Centre, Benin, as part of efforts to promote rehabilitation and reintegration of reformed offenders. Public Relations Officer of the Nigerian Correctional Service (NCoS), Mr. Aminu Suleman, disclosed this in a statement issued on Wednesday in Benin. He said five of the inmates had been shortlisted for direct interviews to determine their eligibility for early release. The hearing, chaired by retired Justice Alero Edodo-Eruaga, was concluded this week after an initial session held earlier. According to Suleman, the review process…

By Peter Omopo The Central Bank of Nigeria (CBN) has ordered the mandatory geo-tagging of all Point of Sale (PoS) terminals across the country within the next 60 days, as part of new measures to curb fraud and tighten regulation of digital payments. In a directive issued on August 26, 2025, the apex bank said the initiative would make every PoS machine traceable, while ensuring that transactions are secure and transparent. “All PoS terminals must have native geolocation features and double-frequency GPS receivers to enable accurate tracking. Any terminal operating outside its registered location will be flagged, while non-compliant devices…

By Peter Omopo Former All Progressives Congress (APC) governorship aspirant in Abia State, Paul Ikonne, has criticised Governor Alex Otti’s tax policies on Aba traders, describing them as harsh and inconsistent with campaign promises of relief for the business community. In a statement issued Wednesday by his Chief Press Secretary, Dr. Ujo Justice, Ikonne alleged that traders at Ariaria International Market, who previously paid ₦18,000 per shop annually, are now being charged over ₦36,000. With more than 88,000 shops in the market, he said, the levy amounts to about ₦3.1 billion in yearly collections. “The same situation is happening at…

By Peter Omopo Access Holdings Plc has announced the resignation of Roosevelt Ogbonna as a Non-Executive Director of its Board after three and a half years of service. The company disclosed this in a notice to the Nigerian Exchange Limited (NGX) on Wednesday, explaining that Ogbonna stepped down to enable compliance with the Central Bank of Nigeria’s (CBN) Corporate Governance Guidelines for Financial Holding Companies, 2023, which limits the board of such companies to a maximum of nine directors. Despite his resignation from the Access Holdings Board, Ogbonna will continue to serve as the Managing Director and Chief Executive Officer…