General News
Elumelu’s Heir Group Develops Commodity Trading Platform

Heirs Holdings, the African investment company focusing on principal investments in a variety of sectors across Africa, plans to establish the Africa Exchange Holdings Limited (AfEX), a platform to roll out commodity exchanges across Africa.
This is in with Heirs Holdings aspiration of improving intra-African commodity trade and market development in the continent,
Mr. Tony Elumelu, chairman, who stated this at the end of a retreat for senior management of Heirs Holdings in Abuja said that the East Africa Exchange Limited (EAX), a Rwanda-based regional commodities exchange would be the first commodity trading platform to be rolled out by Heirs Holdings.
“EAX will directly serve the needs of African farmers and create a more sustainable, balanced market discovery mechanism for much of the continent’s hard and soft commodities,” he explained.
Elumelu stated that retreat was used to review 2012, a year that saw the company’s portfolio record impressive growth as well as to chart its objectives for 2013.
Heirs Holdings operates a group of companies in key economic sectors across Africa – financial services, power, oil and gas, hospitality and real estate, agribusiness and healthcare – with a mission to create economic and social wealth via African-led entrepreneurship.
The Group also supports The Tony Elumelu Foundation, whose goal is to enhance the competitiveness of the African private sector through leadership development, long-term impact investment and promoting catalytic policy change.
Heirs Holdings is actively developing significant industrial projects, viewed as a crucial means to build and diversify Africa’s economy.
Elumelu said: “With expanding operations in countries such as Nigeria, Tanzania and Rwanda, a central component of the Group’s business philosophy is to draw more of the much-needed industrial value chain onto the continent by replicating its successes throughout sub-Saharan Africa. Heirs Holdings has set ambitious goals for the next three years, including the development of five new Transcorp Hilton hotels in Nigeria.
“In Tanzania, Heirs has partnered foreign associates to invest in Mtanga Farms, which has a growing livestock business as well as a growing seed potatoes business that has introduced a new, high-yielding seed variety that will help improve the returns of about 150,000 small holder farmers in the region.”
General News
UBA Debunks Viral Divorce Claim against Elumelus, Suspects in Custody

United Bank for Africa (UBA) Group has dismissed as false and malicious reports circulating on social media alleging that Mr Tony Elumelu, its croup chairman, has divorced his wife, describing the claims as defamatory and deliberately fabricated to tarnish his reputation.

UBA
In a formal notice issued on Sunday, the bank said the publication and similar related content were entirely baseless, reckless, and designed to mislead the public while causing reputational damage to Elumelu and the UBA brand.
According to the statement signed by Mrs Alero Ladipo, Group Head, Brand, Marketing and Corporate Communication, the matter has been reported to relevant law enforcement authorities, which have already commenced investigations into the source and spread of the claims.
The bank disclosed that three individuals allegedly linked to the creation and dissemination of the publication had been arrested. They were identified as Mr Kingsley Akunemeihe, also known as @Directorkem; Mr Chigozie Success Ihebom; and Mr John Surpruchi Nwanorue, known on social media as @problemchimky.
UBA said investigations were ongoing and could result in additional arrests and prosecutions of other individuals connected to originating, amplifying, or sustaining the false publication.
The financial institution issued a cease-and-desist notice to all persons, platforms, and entities involved in publishing or reposting the claims, directing them to immediately remove the content from all platforms and refrain from further dissemination.
It also instructed all affected parties to preserve records, including digital footprints, communications, and metadata linked to the creation and spread of the publication, pending possible legal action.
The bank warned that failure to comply with the directive would lead to legal proceedings, including defamation suits, claims for damages, injunctive relief, and other remedies available under applicable laws.
“UBA Group is resolute in protecting the reputation, privacy, and integrity of our brand and that of Mr Elumelu, and will pursue all necessary legal avenues, civil and criminal, to ensure all responsible parties are identified and held accountable,” the statement said.
The bank urged the public to disregard the false reports and rely only on verified information from official channels.
General News
NITDA Partners Galaxy Backbone to Deliver Subsidised Cloud Services to Startups

National Information Technology Development Agency (NITDA), through its Office for Nigerian Digital Innovation (ONDI), has entered into a strategic partnership with Galaxy Backbone Limited (GBB) to provide subsidised sovereign cloud services for startups participating in the iHatch programme.

NITDA
The collaboration is aimed at strengthening Nigeria’s digital ecosystem by improving access to critical digital infrastructure, promoting indigenous innovation, supporting data sovereignty and expanding digital inclusion.
The development was disclosed in separate statements issued by NITDA and Galaxy Backbone.
Under the arrangement, startups enrolled in the iHatch programme will be onboarded onto the Galaxy Cloud Platform (GxCP), GBB’s sovereign cloud infrastructure built on Uptime-certified Tier III and Tier IV data centres, a nationwide fibre network and advanced cybersecurity architecture.
According to the agencies, the initiative is designed to reduce infrastructure barriers facing early-stage businesses by providing access to secure enterprise-grade cloud resources at subsidised rates.
Director-General of NITDA, Mr Kashifu Inuwa Abdullahi, described the partnership as a strategic intervention to strengthen the resilience and global competitiveness of Nigeria’s startup ecosystem.
Abdullahi said access to reliable digital infrastructure remained one of the most critical enablers for startups seeking to innovate, scale and compete internationally.
He noted that the collaboration aligns with NITDA’s broader digital economy agenda, particularly in building local technology capacity and reducing dependence on foreign infrastructure.
“This partnership reinforces our commitment to nurturing a resilient and globally competitive startup ecosystem by ensuring innovators have access to the infrastructure required to build sustainable businesses,” he said.
Managing Director and Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, said the initiative would empower startups with access to secure, enterprise-grade cloud infrastructure while enabling them to host their data locally within Nigeria.
According to him, hosting data locally is critical to strengthening Nigeria’s digital sovereignty, improving compliance and enhancing economic resilience.
Adeyanju explained that to ensure sustainability and long-term impact, GBB would deploy a tiered, milestone-based support model aligned with the development stages of startups.
He said cloud credits would be released in phases across three stages of startup growth — Build, Validate and Scale.
The credits, he said, would remain valid for 12 months, after which beneficiaries would transition to either standard subscription plans or pay-as-you-go billing options.
“This model ensures startups receive support at the stages where they need it most, while also encouraging efficient resource management and long-term business sustainability,” he said.
Adeyanju added that Galaxy Backbone would establish a dedicated Startup Success Team to guide participating startups through onboarding and encourage platform adoption.
He said the initiative would also include automated usage monitoring and alerts to help startups optimise resource utilisation and avoid operational inefficiencies.
In a move aimed at protecting startups from exchange rate volatility, he disclosed that all post-credit billing under the scheme would be denominated in naira.
General Manager, Strategic Partnerships at GBB, Mr Abdul Malik Suleiman, described the partnership as a deliberate intervention to bridge the infrastructure gap confronting Nigerian innovators.
Suleiman said making world-class cloud services more accessible to local startups would significantly lower entry barriers for innovation-driven businesses.
Also speaking, National Coordinator of ONDI, Ms Victoria Fabunmi, said integrating Galaxy Backbone’s sovereign cloud platform into the iHatch programme would strengthen startups’ ability to transition from ideation to commercial scale.
Fabunmi noted that access to the right digital tools and infrastructure was crucial to helping startups compete effectively in both local and global markets.
She said the iHatch programme, which is supported by NITDA through ONDI, had already trained over 160 startups across 37 hub partners nationwide.
According to her, the partnership with GBB is expected to deepen the programme’s impact by accelerating innovation, enabling startup growth and strengthening Nigeria’s broader digital economy.
Industry stakeholders say the initiative reflects growing efforts by government institutions to provide local alternatives to foreign digital infrastructure while reducing operational costs for Nigerian startups.
They also note that the partnership could improve confidence among innovators and investors by strengthening Nigeria’s cloud ecosystem and encouraging local data hosting.
The agencies expressed optimism that the collaboration would unlock new growth opportunities for startups and further position Nigeria as a leading innovation hub on the continent.
General News
US to Deny Applicants Saying they Fear Persecution @ Home Visas

United States has introduced further restrictions on potential asylum seekers by requiring US visa applicants to confirm they do not fear persecution in their home countries.

Donald Trump administration’s goal is to prevent individuals from using non-immigrant visas as a means to claim asylum once they reach US soil.
According to a diplomatic notice sent to all embassies and consulates this week, applicants for non-immigrant visas, including tourists, students, and temporary workers, must now affirm their safety at home to be eligible for entry.
This move is part of a broader shift in policies designed to tighten US immigration controls.
New screening procedures
Consular officers have been instructed to ask two specific questions during the application process:
“Have you experienced harm or mistreatment in your country of nationality or last habitual residence?”
“Do you fear harm or mistreatment in returning to your country of nationality or permanent residence?”
“Visa applicants must respond verbally with a ‘no’ to both questions for the consular officer to continue with visa issuance.”
The statement notes, “Consular officers must prevent abuse of the immigration system by visa applicants who misrepresent their purpose of travel, including those who attempt to obtain nonimmigrant visas for the purpose of claiming asylum upon arrival in the United States.”
A State Department spokesperson defended the measure, stating: “Consular officers are the first line of defence for US national security.
The department uses all available tools and resources to determine whether each visa applicant qualifies under US law”.
To qualify for asylum under current law, an individual must be physically present in the US and be fleeing persecution based on race, religion, or political affiliation.
However, immigration experts warn that these new requirements may force vulnerable individuals into dangerous situations.
Camille Mackler, an immigration policy consultant, told CNN that the directive “is going to put people in really bad, terrible positions of having to make choices that ultimately affect their and their family’s safety.”
She added: “I also think this pushes people to unsafer pathways and unsafer routes, because if you need to leave, you leave, and you do whatever you need to do to do that.”
The rule follows other recent measures, including increased vetting for student visas and a temporary suspension of immigrant visa processing for 75 countries earlier this year.
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