General News
Crude Oil: A Sudden Tumble

The major headline-catching storyline throughout the latter half of 2014 and even the opening week of 2015 has been the dramatic plummet in oil prices, with Crude having declined by around 50% since last June.
Concerns over an oversupply of oil in the markets encouraged bearish pressure, while heightened anxiety over global economic health inspired fears that there would be less demand for the commodity and further elevated anxiety regarding there being an oversupply in the markets.
This encouraged further downside movement, while the OPEC decision not to cut production last November went on to inspire the commodity to conclude the year around five-year lows.
There was some optimism that the oil markets had found a floor when the selling paused around Christmas, but it was always expected that this was just a small consolidation while traders took a break over the holiday.
I was also curious that the consolidation could have been a preparation for the next leg lower, which proved to be the case.
As 2015 has commenced, the decline in oil prices has resumed with Crude already losing a further $5 from its valuation.
Traders have become increasingly aware regarding the current economic conditions being strictly against the commodity, where the heavily-weighted supply and demand equation has only had one outcome: further declines for oil and economic conditions so heavily against a comeback that even the most risky of investors are being eliminated from considering purchasing.
Despite the bears completely dominating and squeezing as much as they can to squash prices, there remains optimism that Crude can rebound back towards $70.
I question the potential for this because the OPEC decision not to cut production in November basically suggested that the committee group were no longer in control of the oil markets, and confirmed a longer-term bearish outlook for oil.
A rebound would be dependent on OPEC reversing its decision against cutting production and with prices already crashing down below $50, this appears unlikely as well. Could OPEC reverse its decision in the future? Perhaps.
However, traders will continue to price in as many declines as possible beforehand. Furthermore, oil inventories are increasing on what appears to be a weekly basis and it would require a significant cut in production, otherwise inventories will just creep back up to the same levels where there is another oversupply.
Additionally a rebound would also likely be dependent on increased demand for the commodity but with global economic health concerns being so elevated, this is hard to envisage.
It appears highly likely that global growth concerns will continue throughout the first quarter in 2015.
This would more likely lead to further anxiety over reduced demand for the commodity, and encourage bearish pressure.
Economic data from China is also highly important, due to the world’s second-largest economy being the largest importer of oil. It is no coincidence at all that in the hours following China’s worst PMI manufacturing decline of the year, pressure resumed in the oil markets.
It is also worth noting that Crude is priced in USD and towards the middle of 2015, the overwhelming majority expect the Federal Reserve to begin raising US interest rates.
This will lead to an aggressive USD rally, while spelling further bad news for commodities and metals.
The Fed raising rates will pressure Crude and as long as the Fed raises rates as planned towards the middle of next year, the commodity will face a further downside risk.
Overall, there are just so many economic conditions being against a comeback that it makes it difficult to believe one will happen anytime soon.
Can it happen? Sure.
However, it is going to require a combination of greatly reduced concerns over an oversupply in the markets, and global economic optimism raising demand, for oil to wake up the bulls. Getting these two factors to collaborate at the same time might also be tricky.
The technicals currently paint an extremely depressing picture for Crude Oil, to the point where the price has tumbled so rapidly that no technical patterns can even be found.
We have already crashed through psychological support around $70, $63, $57, $52 and $47.
The $42 area is widely seen as the next big test and if we extend below here, it is going to require some time for the prices to even find a floor, let alone any type of rebound back towards $70.
Jameel Ahmad is the chief market analyst at Forex Time (FXTM).
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
General News
Ecobank Guarantees Seamless Digital Banking Services Throughout the Christmas and Year-End Period

Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has assured customers of uninterrupted access to banking services throughout the year-end holiday period via its secure and robust digital platforms. The Bank also urged customers to remain vigilant against fraud and scams during the festive season.

Ecobank Bank
Speaking on the development, Victor Yalokwu, Head, Products & Analytics, Consumer & Commercial Banking, Ecobank Nigeria, said the Bank’s digital channels – including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, RapidTransfer, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point (Agent Banking) locations nationwide – will remain fully available to support customers throughout the yuletide and year-end holiday period.
He noted that customers will continue to enjoy a wide range of services during the period, including local and international funds transfers, bill payments and airtime top-ups, merchant payments, balance inquiries and account statements, as well as cardless cash withdrawals via ATMs.
According to Yalokwu, “Ecobank encourages customers to leverage these digital solutions for safe, fast, and efficient banking, especially during the festive season when convenience and reliability are essential.
“While physical branch operations may be subject to adjusted working hours in line with public holidays, customers can be assured that Ecobank’s digital platforms are designed to deliver uninterrupted service and enhanced security at all times.
“Ecobank remains committed to providing innovative financial solutions and exceptional customer service, and we wish all our customers a joyful festive season and a prosperous New Year.”
Yalokwu also cautioned customers to remain vigilant against fraudsters and scammers during the period. “Before you wrap up the year, tighten your security. December brings online sales, travel, and year-end distractions—this is exactly when scammers are most active. From fake festive deals to cloned merchant sites and suspicious messages, staying vigilant helps keep your money safe.”
He advised customers to shop only on trusted websites, never share their PINs, passwords, or one-time passwords (OTPs), avoid banking on public Wi-Fi networks, be cautious of urgent or emotionally charged messages, and regularly review their account activity.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
E-Financial2 days agoBanks quietly move to enforce new ₦50 transfer levy from Jan. 1
General News2 days agoEcobank Guarantees Seamless Digital Banking Services Throughout the Christmas and Year-End Period
News2 days agoHow Moniepoint’s Founders, Tosin Eniolorunda and Felix Ike are Redefining African Tech and Finance
Telecom6 hours agoGoogle Finally Allows Users to Change Gmail Address, Keeps Data and Services Intact
General News6 hours agoT2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament
News5 hours agoInsomniaQ Spotlights African Creativity in Lagos














