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OBJ Accuses President GEJ of Squandering $55Bn Oil Money

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Olusegun Obasanjo, former president and President Goodluck Jonathan
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Olusegun Obasanjo, former president has accused President Goodluck Jonathan of squandering $25billion crude oil savings left behind by his administration.

Obasanjo made the allegation while hosting the South-West women leaders at his residence in Abeokuta, describing the administration of President Jonathan as full of impunity.

The former president also said the failure of Jonathan’s administration to save for the rainy day led Nigeria into the current economic mess where a dollar exchanges N195.

Obasanjo claimed that the more than $25billion inherited by his successor, Musa Yar’Adua, was raised to $35 billion but the Jonathan administration squandered all, including also the $40billion in Nigeria’s foreign reserve account after paying the outstanding debt at the time.

According to him, former President Yar’adua also raised the reserves to $60billion, but under President Jonathan, the reserves plummeted.

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These new claims followed series of public denunciation of Jonathan’s government by the former president.

Last year, Obasanjo repeatedly lambasted the current government, accusing the president of promoting and tolerating corruption, and failing to provide security for Nigerians.

But Obasanjo, yesterday, said he was not fighting the President, nor was Jonathan fighting him. He said he was more concerned about the interest of the country, and, therefore, cared less about criticisms.

“I have no grudges against Jonathan and I think Jonathan equally has no grudges against me. I’m not quarrelling with Jonathan. All I know is that whatever is good for Nigeria, that I’m ready to die for.

“I emphasize that whatever is good for Nigeria is what I’m ready to defend with my life. Whoever I emphasize, whoever says he would not do anything good to Nigeria, even if he says he’s ready to go ‘konko below’, I’m ready to square it up with such a person. I say again, whoever that person may be, I want you to get that correctly. If this country is going to change for the better, it would start from the top and if it’s going to be otherwise, it would start from the top, too,” the former president stressed.

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The former president also lamented the poor condition of Nigeria’s economy, saying it shouldn’t have been this bad.

“Our economy should not have been this bad. When I was leaving office about eight years ago, I left a very huge reserve after we had paid all our debts. Almost $25billion was kept in what they called excess crude, including the excess from the budget we were saving as reserve for the rainy days. When we left in May, 2007, the reserve was said to have been raised to $35billion.

“But today, that reserve has been depleted! The reserve we left when we finished paying all our debts, our debts that was about $40billion, that is including debt forgiveness, the remaining debt was not more than $3billion. Our reserve after we had paid off this debt was about $45billion. As at the end of 2007, I heard that the reserve increased to almost $67billion before the end of that year. But our reserve now, I learnt is left with around only $30billion.

“That is why the Naira has been falling against the dollar. What would now happen? I learnt if you want to buy a dollar now, it’s about N192 or N195. What it means is this, what you have been buying at N150 to a dollar, now you need N192 or N195 to buy it. That is the real situation. Is there any remedy? There is, but it does not come overnight because it means we have to give up all the bad things we have been doing,” Obasanjo said.

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Guinness Rewards Consumers with ₦17 Million in First Week of ‘Open for More’ Promo Draw

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Guinness Nigeria has officially begun rewarding consumers under its nationwide ‘Open For More’ National Consumer Promotion (NCP), with an impressive ₦17 million in rewards to 107 winners during the campaign’s first live draw held on July 31, 2026.

The inaugural draw instantly transformed the fortunes of consumers across the country, producing seven new millionaires, who each received ₦1 million, alongside 100 additional winners, who each walked away with ₦100,000. The milestone marks the beginning of a series of weekly live draws that will see hundreds more Nigerians rewarded throughout the promotion.

The seven ₦1 million winners are Marcus Barieepie, Ani Valentine Ogochukwu, Okafor Sochima, Taiwo Adebola, Zubair Rukayat, Oluwatobi Femi, and Ebubechukwu Okolo.

The live draw was conducted under the supervision of the Federal Competition and Consumer Protection Commission (FCCPC) to ensure transparency and fairness. Representatives of the commission present included Dr. Olubunmi Otti, Zonal Coordinator, FCCPC Southwest, and Mrs. Abosede Ogundeji, Surveillance and Investigation Officer.

Speaking during the draw, Ramanathan S, representing Guinness, said the promotion reflects the brand’s enduring commitment to celebrating and rewarding the consumers who have supported Guinness over the years.

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“For decades, Nigerians have made Guinness a part of their milestones and celebrations. Today, we are proud to give back by putting ₦17 million directly into the hands of 107 consumers in our very first draw. This is only the beginning. Over the coming weeks, many more Nigerians will experience life-changing rewards as we continue to celebrate the loyalty of the people who have made Guinness part of their stories.”

He added that all weekly draws will continue to be streamed live across Guinness Nigeria’s official platforms, enabling consumers to witness the winner-selection process in real time and reinforcing the transparency and credibility of the promotion. He also encouraged eligible consumers nationwide to participate, noting that every valid entry presents another opportunity to win.

The ‘Open For More’ National Consumer Promotion offers consumers the chance to win ₦1 million every day, ₦100,000 cash prizes for 1,000 winners, and a Toyota Land Cruiser Prado as the grand prize. Altogether, the promotion will reward consumers with more than ₦400 million in cash and prizes.

To participate, consumers simply need to purchase specially marked bottles of Guinness Foreign Extra Stout or Guinness Smooth, locate the unique code beneath the crown cork or can lid, and enter the code via the designated campaign platform.

With ₦17 million already won in its opening draw, the campaign is off to a remarkable start, reinforcing Guinness Nigeria’s commitment to rewarding consumer loyalty through transparent processes and unforgettable experiences that go beyond the product. Consumers are encouraged to look out for specially marked promotional packs and follow Guinness Nigeria’s official communication channels for updates, winner announcements, and details of upcoming draws.

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NITDA, UniAbuja Partner to Drive Tech Innovation, Research

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National Information Technology Development Agency (NITDA) has expressed readiness to deepen collaboration with Nigerian universities to promote research, innovation and technology-driven solutions to local challenges.

NITDA, UniAbuja Partner to Drive Tech Innovation, Research

NITDA, UniAbuja

NITDA’s Director-General, Kashifu Inuwa Abdullahi, stated this when the management of Yakubu Gowon University, formerly the University of Abuja (UniAbuja), led by its Vice-Chancellor, Prof. Hakeem Fawehinmi, paid a familiarisation visit to the agency’s headquarters in Abuja.

Abdullahi said stronger collaboration between NITDA and tertiary institutions was essential to building a robust innovation ecosystem, developing practical skills and positioning Nigeria for technology-driven economic growth.

He stressed the need for increased investment in research, particularly in emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), blockchain, cybersecurity and cloud computing.

“We need to invest more in in-depth research with universities to build a robust research ecosystem that will help us develop solutions.

“Research will focus on harnessing AI, IoT, blockchain, cybersecurity and cloud technology, among other emerging technologies, to improve our lives and grow our digital economy,” he said.

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The DG described universities as critical talent factories required to achieve Nigeria’s digital transformation aspirations.

“NITDA has a vision to make Nigeria a digitally empowered nation. You (UniAbuja) are the talent factory, and we cannot achieve our vision without talented Nigerians.

“The only way to achieve that is by working with institutions like yours. So, we need to build talent,” he said.

Abdullahi also advocated the integration of AI education across disciplines in tertiary institutions, saying students needed practical digital skills to remain relevant in the evolving world of work.

“We can work together to explore ways of introducing AI across the board as a general study course in tertiary institutions.

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“Elements of AI should be included in every field of study to equip our students with the hands-on skills for navigating the real world,” he said.

According to him, NITDA is already collaborating with key education sector stakeholders, including the Federal Ministry of Education, National Universities Commission (NUC), National Board for Technical Education (NBTE) and National Commission for Colleges of Education.

He said the agency was also working to promote digital literacy programmes across all levels of education to ensure that graduates acquire skills relevant to industry requirements.

Earlier, Fawehinmi said the university’s visit was aimed at seeking NITDA’s partnership and support in strengthening digital infrastructure and technology-based training at the institution.

He expressed appreciation for NITDA’s contributions to the Digital Geoscience Centre at the university.

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The Vice-Chancellor said the university was willing to collaborate with NITDA on joint research, capacity-building initiatives and innovation programmes capable of contributing to Nigeria’s socio-economic development.

“We could go into partnership with you to provide data, collaborative engagements, staff exchanges and joint research hubs, so that we can produce high-level human resources.

“The university is committed to serving as a strategic academic partner to NITDA by providing academic expertise required to advance your national digital transformation initiatives,” he said.

The proposed collaboration is expected to strengthen the link between academic research and industry needs while creating opportunities for technology innovation, skills development and practical solutions to Nigeria’s socio-economic challenges.

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Meta Hit With $567m US Court Order Over Alleged Harm to Children

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A New Mexico court has ordered Meta, the parent company of Facebook and Instagram, to pay $567 million to address the alleged harms caused to young people by its social media platforms.

Meta Hit With $567m US Court Order Over Alleged Harm to Children

Meta

The ruling by Judge Bryan Biedscheid came in the second phase of a landmark trial concerning the impact of Meta’s platforms on children and teenagers.

The judge said $420 million of the amount would be dedicated to treatment services for young people, while the remaining funds would support awareness and prevention programmes, screening services and other related costs over the next five years.

The latest financial order comes on top of $375 million in civil penalties awarded against Meta in March after a jury found that the company knowingly harmed children’s mental health and concealed information about child sexual exploitation on its platforms.

During the second phase of the trial, prosecutors asked the court to order fundamental changes to Meta’s platforms, including measures to reduce addictive features, improve age verification and prevent child sexual exploitation through stronger privacy settings and increased oversight.

The court subsequently ordered Facebook and Instagram to introduce banner notifications and informational screens explaining their safety features, recommended practices and tools for addressing inappropriate comments.

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The platforms must also regularly display the information, while an educational campaign in New Mexico will be subject to review by the state.

New Mexico Attorney General Raúl Torrez said the ruling sent a clear message that technology companies could be held accountable when their product designs knowingly exposed children to risks.

“Today’s decision is a victory for every parent who has worried about what social media is doing to their child and every child who deserves to grow up safer online,” Torrez said in a statement.

Meta said it would appeal the ruling.

“We work hard to keep people safe on our platforms and have been transparent about the challenges of identifying and removing bad actors and harmful content,” the company said.

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The company said it remained confident in its record of protecting teenagers online and would continue to defend itself against what it described as claims that misrepresented the facts.

On age verification, the court said federal children’s privacy laws restricted Meta’s ability to apply certain verification tools to children under 13.

The court cited the Children’s Online Privacy Protection Act (COPPA), which limits the collection of personal information from children under 13.

Rather than imposing a blanket age-verification requirement exclusively on Meta, the judge ordered the company to continue improving its age-assurance tools in New Mexico.

The tools include the use of artificial intelligence to estimate users’ ages based on signals such as their social connections and the type of content they post and consume.

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Meta was also ordered to attempt to develop a dedicated model for predicting whether users are under 13 within the next two years.

Additionally, the company must request proof of age from Facebook and Instagram users in New Mexico whom it estimates to be under 13.

Where Meta determines that a user is under 13, or under 18 but cannot determine a specific age, it must treat the user as being under the applicable age threshold until the user verifies their age.

The court further ordered Meta to partner with schools or a child-safety organisation to establish a reporting portal through which school officials can flag users suspected to be under 13.

Meta must also delete personal information it has collected from users under 13 and submit progress reports twice a year detailing its compliance with the court-ordered measures.

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The ruling comes as Meta faces thousands of lawsuits from families alleging that children have been harmed by social media use.

The company is also preparing for another trial in California amid the growing litigation over the impact of social media platforms on young people.

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