General News
18,000 Killed in Nigeria, Others as Worldwide Cost of War Hit $14 Trn
More than $14 trillion was spent on international conflicts in the past year, according to a report by the Institute for Economics and Peace (IEP), which found that Syria, Iraq and Afghanistan were responsible for a surge in war deaths.
The report also indicated how those killed in conflicts had risen more than 350 per cent so far this decade, from 49,000 in 2010 to 180,000 in 2014.
This occurred amid a 61% increase in terror-related deaths in 2013 with 18,000 people killed. Most of these occurred in just five countries: Afghanistan, Iraq, Nigeria, Pakistan and Syria.
According to the report, the spending represents 13% of global GDP and is roughly the combined value of the economies of the United Kingdom, France, Germany, Canada, Spain and Brazil.
Steve Killelea, IEP Chief Executive, said reducing conflict was one way to help the world’s economic recovery.
“If global violence were to decrease by 10% uniformly, an additional $1.43 trillion would effectively be added to the world economy,” he said.
Published annually since 2008, the Global Peace Index uses 23 indicators and three key themes; “level of safety and security in society”, “the extent of domestic and international conflict” and finally “the degree of militarisation”.
This year saw overall levels of conflict unchanged. However, the picture was uneven around the world, with 86 nations seeing their peace index fall while 76 enjoyed increased peace.
The decline was mainly concentrated in the Middle East and Africa. Syria was the most dangerous country closely followed by Iraq and Afghanistan.
Libya recorded the biggest deterioration falling 13 places to 149th becoming the 14th least peaceful country whilst Ukraine recorded the second largest with around 6,000 recorded deaths since the start of the Civil War and 1 million people displaced.
Levels of peace in South America also declined in the midst of public protests in Brazil and Mexico as well as a surge in criminal violence in the region.
At the other end of the spectrum, Iceland and Denmark were recorded as the world’s most peaceful nations as Europe in general continued a long-term trend towards greater levels of peace with murder and crime rates at an all-time low.
North America, Europe, Central America, and the Caribbean all showed increases in peace with Sub-Saharan Africa’s score improving as Benin climbed 29 places putting the region ahead of Eurasia, Russia, the Middle East and North Africa and South Asia.
Mr Killelea added: “2014 was marked by two contradictory trends: on the one hand, many countries in the OECD achieved historic levels of peace while on the other, strife-torn nations, especially in the Middle East, became more violent.
“This is a real concern: as these conflicts become even more intractable they then spread terrorism to other states.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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