General News
OBJ, 5 Heads of State for African Investment Summit
Five heads of state have already confirmed their participation in the 2015 Global African Investment Summit.
The presidents of Ghana, Liberia, Malawi, Rwanda and Uganda and several dignitaries of other African countries will be attending the economic development summit to be held on 1-2 December 2015 in London, the UK.
After last year’s successful inaugural edition, the Global African Investment Summit (TGAIS) will once again bring over 750 global investors, project developers and senior government leaders together to harness trade and investment opportunities in Africa. Paul Kagame, John Dramani Mahama, Yoweri Kaguta Museveni,. Peter Mutharika, and Ellen Johnson Sirleaf, Presidents of Rwanda, Ghana, Uganda, Malawi and Liberia respectively, alongside the Prime Minister of the Democratic Republic of Congo,. Augustin Matata Ponyo, will meet global business leaders at Central Hall Westminster to present various investment opportunities in their regions.
Former Nigerian president, Olusegun Obasanjo, will also take part in this year’s event both as chairman and as a speaker.
Unlike most conferences focused on Africa, TGAIS moves beyond the conventional discussion on the need for change in Africa.
Instead, the event provides a business platform, offering African governments and companies the chance to present their investment projects to a diverse audience of global businesses interested in long-term investment in Africa.
During Project Roundtable Meetings, real investment opportunities are presented and business relationships are further developed.
An audit of the businesses in attendance in 2014 accounted for control of $235 billion in managed funds. Another key differentiator at this year’s event will be the introduction of a new case study stream, providing stakeholders with an opportunity to present successful stories in Africa.
“Africa is one of the world’s most dynamic and fastest-growing regions,” said Paul Sinclair, director of TGAIS.
“This summit actively encourages trade and investment by giving African governments, business leaders and visionaries the opportunity to present their projects and set up partnerships. We are a game changer.”
Another exemplary initiative will be the launch of the African Entrepreneurship Programme (AEP) in partnership with former President Obasanjo and Mr Aliko Dangote, one of Africa’s most successful businessmen.
The AEP will support African entrepreneurs to realise their investment objectives by giving them the opportunity to present and connect with financial stakeholders.
This year’s two-day TGAIS programme will be addressing the theme of ‘Transforming African Economies for Global Competitiveness.’
The agenda will cover the infrastructure, power, agribusiness, FMCG, tourism and natural resources sectors.
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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