General News
Reasons Why Buhari has not Appointed Ministers
President Muhammadu Buhari may not appoint ministers “in the next two months as the new administration seeks to come to grip with what its officials claim as the rot it inherited.
Apart from the rot, the crisis in the National Assembly over the choice of principal officers; and the need to reduce ministries and parastatals have also conspired to delay the appointment of the ministers.
Insiders in the new government claim that this is due to the acute state of affairs of government finances and resources.
It was also disclosed that President Buhari would in the next few days take very painful decisions akin to “pulling off the tooth” of a man without painkillers.
A source close to the president, who made these known to reporters at the weekend, spoke in reference to assertions of the president’s slow take-off as reflected in the failure to appoint key actors of government.
The source dismissed suggestions that the activities of government had been crippled on account of the failure to appoint ministers as a blackmail by politicians keen to get into the pie.
”Almost everything is in a state of decay. There is absolutely no way the new government can hope to achieve anything long-lasting without first building a new foundation.” The source said.
On the National Assembly crisis, the source said it was “yet one more excuse why forming a cabinet will be impossible until further notice”.
He added: “Look at how they are fighting among themselves.
“The Senate has now adjourned till July 21. That means no one to scrutinize or approve any ministerial list until the end of July.”
When told that the National Assembly said it was ready to cut short its break to consider any request from the President, the source asked the reporters to await the President’s “long-awaited” intervention in the crisis between the party and the National Assembly.
”The President wants to walk his talk on stable politics and being a leader for all. He has a plan for the National Assembly.”
The source debunked the insinuations that the delay in appointing ministers had stalled the government.
He said civil servants had been “supervising the day-to-day running of ministries and that permanent secretaries of the various ministries have access to the President”.
He added: “All these reports and agitations are being fuelled by politicians who want to put pressure on the President.
“They have tried doing it other ways and those haven’t worked. Now, they are trying to use the media. They only want their cronies appointed to ministerial posts anyhow and they are fuelling the agitation through newspapers.”
He advised the media not to fall for the “old tricks and shenanigans” of politicians.
Buhari is set to reduce or merge some ministries and parastatals to make the size of the civil service manageable for efficiency.
The exercise will, however, not lead to retrenchment of workers.
The source added: “The President plans to cut down the number of ministries and parastatals.
“He wants to cut down the cost of running government. He wants to make sure that all the loopholes that enable corruption to thrive are blocked. All these are procedures that require time and careful planning. You cannot do it in a rush.
“Remember that he has to make sure that all this is done without any job losses or mass retrenchments. All this is not a day’s or one-month job.”
He added that President Buhari could not realistically have begun this process without first receiving the full report of the transition committee and ascertaining exactly the situation his government faced.
The spokesmen of the President, Mr. Femi Adesina (Special Adviser on Media and Publicity) and Mallam Garba Shehu (the Senior Special Assistant on Media and Publicity) said this narrative as the “nearest to the truth than all that are being peddled by many others.”
The President has been criticised in the past few weeks for allegedly being slow in constituting his cabinet.
Some critics accused Buhari of not planning enough to hit the ground running since his election on March 28.
Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.
According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.
“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.
“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.
“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.
“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.
NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.
“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.
General News
First Trustees Advocates Estate Planning as an Essential Tool in Every Wealth Creation Strategy
First Trustees Limited, a subsidiary of FirstHoldCo Plc., and a leading provider of fiduciary and trusteeship services in Nigeria, is encouraging individuals, professionals, entrepreneurs, and investors to view Estate Planning not as an end-of-life exercise, but as a strategic investment tool for protecting, preserving, and transferring wealth across generations.
As more Nigerians focus on wealth creation through businesses, real estate investments, and other income-generating assets, experts are emphasizing that building wealth is only one part of the equation.
Equally important is creating structures that ensure those assets remain protected, properly managed, and seamlessly transferred to succeeding generations in accordance with the asset owner’s wishes. Importantly, Estate Planning is not solely for the wealthy, it is a prudent step for anyone with assets, dependants, or a business to protect, regardless of age, profession, or net worth.
Speaking on the importance of Estate Planning, Ereifemi Akeredolu, Managing Director/CEO, First Trustees Limited, noted that Estate Planning should be considered a core pillar of every long-term financial strategy.
“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.”
Using tools such as Trusts, Wills, and advanced succession plans, individuals can build structures that support wealth preservation, business continuity, asset protection, and intergenerational wealth transfer.
For entrepreneurs and business owners, Estate Planning serves as a powerful tool for ensuring business sustainability, helping organizations remain stable and operational regardless of unforeseen circumstances.
First Trustees continues to emphasize and educate on the importance of Estate Planning as a comprehensive strategy for proactive planning. It remains one of the most important financial decisions an individual can make: it provides clarity, minimizes uncertainty, and protects assets from unnecessary erosion and disputes. It also creates financial security for loved ones, supports business succession and continuity, and facilitates long-term investment and legacy planning.
General News
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nearpays, Nigerian fintech, has won the AI for Good Innovation Factory grand finale — the first African startup ever to take the global title in the competition, which runs as part of the United Nations’ AI for Good Global Summit.
The competition drew more than 500 startups worldwide, each pitching AI solutions aimed at social and economic challenges.
The summit itself is organised by the UN through the International Telecommunication Union (ITU) in partnership with several UN agencies, convening governments, researchers, startups, and technology companies around AI’s role in development.
Nearpays’ route to the title ran through Johannesburg, where it won the African regional competition, before advancing to the global finals in Geneva.
There, the company progressed through the semi-finals and claimed the grand finale — a first for the continent.
The company describes the win as bigger than a corporate milestone, calling it a victory for African innovation and proof that technology built to solve local problems can compete, and win, on the world stage.
Nearpays was founded to close a stubborn gap in African payments: small and medium-sized businesses that can’t afford or access traditional point-of-sale terminals.
Cost, availability, and deployment hurdles have kept many merchants — particularly in rural and underserved communities — locked out of digital payments.
Its answer is SoftPOS: an AI-powered platform that turns compatible Android smartphones into payment acceptance devices, letting merchants take contactless card payments with nothing more than their phones. AI is embedded across the platform, supporting payment processing, compliance, fraud detection, and business operations.
Crucially, the platform was built for African infrastructure realities — it works both online and offline, so merchants can keep accepting payments even without internet connectivity.
The company credited its team’s years of product development and customer engagement for the result, and thanked the UN, the ITU, and the AI for Good initiative for building a platform where innovators can apply AI to real-world problems.
It also said it hopes the win encourages more African founders to build technology that answers local needs while competing internationally.
For Nearpays, the title closes one chapter and opens another, as the company pushes on with expanding digital financial infrastructure across Afric
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