The head of the Football Association of Zambia (FAZ), Andrew Kamanga, and other officials have been arrested for allegedly misappropriating funds earmarked for AFCON 2023 allowances. The arrests, made by Zambia’s Drug Enforcement Commission (DEC), shed light on systemic issues within the country’s football governance. The charges include fraud and money laundering, stemming from an elaborate scheme where funds intended for official AFCON travel were allegedly diverted into personal accounts. The accused, including FAZ General Secretary Reuben Kamanga, are facing legal action for allegedly siph ..read more

Elon Musk’s Comments During TESLA’s Q1 Earnings Call Musk said there will be more affordable models coming in early 2025 or sooner. Musk said that Tesla has accelerated its future product roadmap and is set to start production in early 2025, or late 2024. The company had previously indicated this production wouldn’t start until the second half of 2025. When asked if any legacy automakers have reached out to Tesla about licensing the company’s full self-driving (FSD) technology for their vehicles, Musk said that Tesla is “in conversations with one major automaker regarding licensing FSD.” Musk ..read more

Federal Government To Create N100 Billion Police Housing Fund The Nigerian Police Force (NPF) will receive a N100 billion Police Housing Fund, according to Inspector-General Olukayode Egbetokun. The fund will be established through preliminary assessments and engagements with key players and institutions. The goal is to create effective and efficient housing for the NPF’s officers.The IGP highlighted the Nigerian Police Force’s housing shortage, stating that current capacity only meets 10% of its workforce’s needs, and that inadequate barracks accommodations are a significant challenge, highli ..read more

Tinubu approves the 15-man NWG’s reconstitution for NEITI. Nigeria’s President has approved the reconstitution of a 15-man National Stakeholders’ Working Group (NSWG) for the Nigeria Extractive Industries Transparency Initiative (NEITI), chaired by Sen. George Akume, and comprising representatives from various sectors, including the Federal Inland Revenue Service, NNPC Ltd, and the Miners Association of Nigeria. The OSGF has requested CSOs to elect and present their representatives for the Civil Member, and the process is ongoing. The representatives include women/geo-scientists, extractive in ..read more

TLcom Capital LLP Africa-focused venture capital firm has spearheaded one of the region’s most significant fundraising campaigns in the last five months, aiming to invest in technology startups, hinting at a potential surge in dealmaking activity within the industry. TLcom Capital, known for backing prominent tech startups in East and West Africa over the past seven years, announced on Monday the completion of a $154 million two-year fundraising round, nearly doubling its previous round of $71 million and attracting investments from the US and Europe. Founders and Partners include: Eloho Omame ..read more

The Hush Money Trial of Donald Trump commenced at the Manhattan Criminal Courthouse in New York City, marking a pivotal moment in legal proceedings against the former president. David Pecker, a prominent figure in the case, has been summoned as the prosecution’s inaugural witness, shedding light on the alleged ‘hush money’ scheme aimed at swaying the 2016 election. Trump faces accusations of attempting to corrupt the democratic process through clandestine financial transactions, drawing intense scrutiny from both supporters and critics alike. As the trial unfolds, it promises to uncover furthe ..read more

The National Assembly has postponed its plenary resumption from April 23 to April 30, marking the second time it has done so after the Easter and Eid-el-Fitr break, to complete the renovation of its main chambers. Distinguished senators were informed that the resumption of plenary has been postponed to April 30, 2024, at 11 a.m. The Senate’s main Chamber will be the venue. The extension follows the Committee on Constitution Review’s decision to extend the deadline for memoranda submission until April 30. The extended timeline will allow for preparation for legislative summits on State Police a ..read more

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced that the Federal Government will devise strategies to address excess liquidity in the system. He stated that fiscal and monetary authorities are working together to reduce inflation, stabilize price stability, and stabilize the exchange rate, with the aim of lowering interest rates for affordable borrowing. The Minister of Finance emphasized the need to reduce borrowing and focus on domestic resource mobilization to avoid repayment and refinancing pressures. He highlighted the low tax/GDP ratio and proposed ..read more

The Economic and Financial Crimes Commission (EFCC) has issued a warrant for the arrest of Yahaya Bello, former governor of Kogi state, on charges of alleged financial misconduct totaling N80 billion. The EFCC has urged anyone with information on Bello’s whereabouts to contact them or the nearest police station. Bello, 48, is described as a native of Okenne Local Government in Kogi State, with his last known address in Abuja. Despite claims by Bello’s lawyer that he was in his state during the EFCC’s visit to his Abuja residence, the commission maintains its pursuit of justice. The case has be ..read more

President Bola Tinubu has issued a stern warning to ethnic agitators threatening Nigeria’s unity, emphasizing that they will face the consequences of their actions. Tinubu’s statement came in response to the recent invasion of the Oyo State House of Assembly Complex by Yoruba Nation agitators, who declared the independence of the ‘Democratic Republic of the Yoruba.’ During a meeting with leaders of the Yoruba socio-cultural group, Afenifere, Tinubu emphasized his commitment to Nigeria’s unity and constitutional democracy, stating his administration’s progress against insurgency and determinati ..read more