The Atlantic Bell

President Bola Tinubu on Thursday commenced a 10-day vacation as part of his 2025 annual leave, the Presidency announced.

According to a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, the President will spend the 10-working-day vacation between France and the United Kingdom, after which he will return to Nigeria.

Onanuga said, “President Bola Ahmed Tinubu will depart Abuja today, September 4, to commence a working vacation in Europe, as part of his 2025 annual leave.

However, the statement made no mention of Tinubu transmitting a formal letter to the National Assembly, as required under Section 145(1) of the 1999 Constitution (as amended), to enable Vice President Kashim Shettima to act in his absence. Both chambers of the Assembly are currently on recess.

In October 2024, he spent over two weeks in the UK and France on a similar “working vacation” without a formal handover.

Tinubu’s departure comes on the back of a busy schedule for the Nigerian leader, marked by key economic reforms, new policy directives, and diplomatic outreach.

Only this week, Tinubu highlighted unprecedented growth in non-oil revenues that has powered Nigeria’s strongest fiscal performance in recent history.

Government figures for January–August 2025 show collections hitting N20.59 trillion, a 40.5% increase over the same period last year, underscoring the impact of reforms aimed at widening the tax net and digitising compliance.

On Wednesday, the President also directed the implementation of mandatory health insurance across all Ministries, Departments, and Agencies, insisting that while government workers must be covered under the National Health Insurance Authority, businesses should not be unduly constrained as the Act is enforced.

Beyond domestic policy, Tinubu has been active on the international stage.

Many retired Nigerian soldiers on Thursday blocked the entrance of the Federal Ministry of Finance in Abuja, protesting the alleged delay in releasing funds to the Military Pensions Board, MPB, for the payment of their outstanding entitlements.

They stated that they resolved to protest after officials of the Ministry of Finance failed to honour earlier assurances that their benefits would be paid by August 10.

But reacting to their demonstration, the Director, Defence Media Operations, Markus Kanye, said the aggrieved former soldiers have already been educated.

He explained that the agitation stemmed from the introduction of two separate salary charts for military personnel in 2024, following the implementation of the new minimum wage.

According to him, a “pre-minimum wage chart” was in effect between January 1 and July 28, 2024, while the “minimum wage chart” took effect from July 29, 2024, and remains applicable.

The senior military officer said, “The actions of these protesting soldiers are seriously affecting the smooth conduct of activities at the Ministry of Finance.

“While the Defence Headquarters acknowledges the right to legitimate protest, the veterans are strongly advised to tread with caution and vacate the premises of the Federal Ministry of Finance to allow government functions to continue seamlessly.

“This is the message we have been directed to pass on, so that through your medium, our veterans and the Nigerian public can be properly informed.

“Let me reaffirm that the Armed Forces of Nigeria remain fully committed to their constitutional mandate of defending the territorial integrity of our great nation, supporting civil authorities in maintaining internal security, and ensuring peace and stability across all regions,” Kanye added.

Kanye noted that gratuity and security debarment allowance for retired personnel are calculated based on the salary chart in effect on the date of retirement.

“Before the implementation of the new minimum wage, there was a chart on which gratuity and security debarment allowance for soldiers was calculated, and later, the minimum wage chart. Essentially, there were two charts in 2024.

“The first, known as the pre-minimum wage chart, was effective from January 1, 2024, to July 28, 2024. I repeat: January 1, 2024, to July 28, 2024. This was the chart used to calculate the emoluments of retired soldiers and other military personnel.

“The second was the minimum wage chart, which took effect from July 29, 2024, and remains applicable to date. Now, the calculation of gratuity and security debarment allowance for military personnel is based on the salary chart in effect on the date of retirement.

“If a soldier retires today, his entitlements will be calculated using the current chart. If another chart is introduced tomorrow, the same soldier’s entitlements will not be recalculated based on the new chart.

“Unfortunately, the soldiers who retired between January 1 and July 28, 2024, before the implementation of the new minimum wage, want their gratuity and allowances calculated based on the new chart. This cannot be done because the policy only came into effect on July 29.

“Those who fall within the pre-minimum wage chart category are the soldiers who have continued to protest and block access to the Federal Ministry of Finance, despite repeated explanations from the Defence Headquarters,” he said.

The Director Defence Media Operations maintained that the veterans had been adequately educated on the matter but had continued to stage protests and block access to the Ministry of Finance.

Speaking to journalists, one of the protester said the renewed demonstration was prompted by what she described as the government’s failure to act on its commitments.

“We are here because the promises made to us were never fulfilled. We had no choice but to return to the streets. This time around, the protest will be massive,” she said.

The senior citizens have, in recent years, staged several protests in Abuja and other cities, lamenting delays in payment of their pensions and accusing authorities of neglect.

Thursday, 4th September, 2025, marked the end of an era as the Armani Group lost its founder and legendary icon, Giorgio Armani.

Armani, fondly called “Signor Armani,” was widely respected and admired by both employees and collaborators. He was described as a dedicated and hardworking man, committed to his craft until his final days.

Armani founded his fashion house in Milan in 1975, beginning with a men’s ready-to-wear collection that grew into a full fashion empire, including women’s wear, accessories, and fragrances, eventually becoming a red-carpet favorite in Hollywood. He later expanded into a diversified luxury group, encompassing Giorgio Armani, Emporio Armani, Armani Exchange, Armani Privé, as well as ventures in beauty, home décor, restaurants, and hotels.

Built with patience and passion, Giorgio Armani’s brand had been in operation for fifty years.

Despite health challenges that kept him away from Milan Fashion Week, he remained relentless and continued to oversee every aspect of his brand.

“In 20 years of Armani Privé, it’s my first time not being in Paris,” Armani said in a statement sent to AFP in July.

To honor his wishes, Armani’s funeral will be private, while the funeral chambers in Milan will be open from Saturday, 6th September, to Sunday, 7th September, for well-wishers to pay their last respects.

At the root of the impending clash is the alleged withdrawal of the oil company from what the community described as “the age-long tradition of maintenance of electrical facilities in the area.”

The community fears that such withdrawal might throw the community into darkness, thereby depriving them of what they see as “only major benefit of oil exploration” in the area.

According to the chairman of Omoku Development Council, Dr. Christian Ojobah, in a telephone chat with The Atlantic Bell, the community cited a letter which the oil firm wrote to the community hinting of withdrawal from maintenance of electricity facilities in the area. The letter, according to the chairman, indicated that the responsibility has been handed over to the community.

Dr. Ojobah said such a development was “unhealthy, unwarranted and a ply by the company to deprive the community from the only benefit which the people enjoy from the company. This is something that Agip, the predecessor of Oando, maintained over the years. Why will Oando that just took over the assets and liabilities of Agip initiate this kind of anti-community posture.”

“The oil companies have destroyed our mangroves, our farms,our rivers. Our people can’t get firewood anymore, gas is expensive for the rural folks. So, the light which they give us is the only benefit the people derive to enable them power their gadgets. Now, if you leave maintenance of the electrical facilities to the community, it means you want to throw them into darkness,” Ojobah stated.

Dr. Ojobah noted that since Oando took over operations in the area from Agip, Omoku community has not seen any progress. “We expected them (Oando) to continue with what Agip did if they could not add or improve on them. Generate, transmit, and maintain, we are not asking for the entire world,” he quipped.

The Omoku Development Council chairman stated that Oando should not unnecessarily cause a breach of the peace in the area, as according to him, thcompany’s stance on the matter of electrical facilities maintenance is, “provacative”, especially considering the fact that they are still flaring gas in the area.

However, The Atlantic Bell investigations revealed that the stoppage of maitenance of electricaal facilities was a fall-out of the implementation of the Petroleum Industry Act (PIA), which the responsibility of such acts to host communities.

A source in Oando, told The Atlantic Bell that the community leaders ought to be aware that the PIA had taken such responsibilities and handed trhem to communities.

“Communities are paid huge sums of money monthly as afall-out of the PIA.Such funds are expectedto be deployed by the communities to maintain the facilities when they are faulty. The company will continue to generate and transmit, but maintenance is no longer under our purview. That is the law, and Omoku community cannot be the exemption,” the source stated.

The Atlantic Bell recalls that the PIA allocates three per cent of company’s annual profit to host communities. The Host CommunitySection of the PIA provides for hosts communities development trust to foster sustainableprosperity, enhance peace, abd cordial relationship between licensees and lessees, and the communities.

Governor Duoye Diri of Bayelsa State had recentlydescribed the PIA as “a time bomb” that risks inflaming tensionsin oil-producing communities.

The PIA enacted in 2021 was intended to modernize Nigeria’s oil and gas sector, attract investment, and guarantee benefits to host communities. But in the Niger Deltawhere most ofNigeria’s oil is produced, the law has faced criticism during implementation.

True to its promise at inauguration few days ago, to move with the speed of light in ensuring that the people of Rivers State have a greater feel of the impact of the Rivers State Microfinance Agency, the board has swung into action, determined to ensure financial inclusion of the people described as, “the poorest of the poor.”

Chairman of the board of the agency, Professor Adolphus Toby, told The Atlantic Bell shortly after the inaugural meeting of the board held at the agency’s headquarters in Port Harcourt, on Wednesday, September 3, 2025, that one of the topmost priorities of the new board is to ensure that the activities of the agency and its subsidiary, the RIMA Growth Pathway Microfinance Bank, is felt by the people, especially in all the 23 LGAs of the state.

“The law establishing this agency mandates us to use the instrument of microfinance to enhance financial inclusion and ensure wealth creation at the grassroots. For a long time, this has not been done effectively. This board will leverage on its subsidiary, which is a statewide microfinance bank to establish branches in all the LGAs,” Prof. Toby stated.

Toby, a professor of Banking and Corporate Finance, said that by the triangular nature of the issue of microfinance, with RIMA at the centre, the board would adopt the mode of outreach, financial sustainability and welfare impact assessment and analysis of clients, to guide its operations.

“The issue of microfinance has to do with a triangle. At the centre is RIMA. That triangle is made up of outreach. We are going to build our outreach capabilities to the poorest of the poor. The other part of the triangle is financial sustainability. We are going to ensure that this agency and its subsidiary are financially sustainable. Our oversight function will be carried out regularly and diligently to ensure the bank is on track. The third part of the triangle is the welfare impact assessment of the recipients of our loans,” the chairman stated.

The Atlantic Bell learnt that the board has approved adhoc and statutory committees in line with sound corporate governance rules to tackle very critical issues facing the agency and its subsidiary, the bank. This was sequel to the board’s familiarisation visit to the RLMA Headquarters and the RIMA Griwth Pathway Microfinance Bank, which exposed glaring situations that needed urgent attention.

Prof. Toby expressed confidence that the board would excel in its functions since all the members were appointed based on their professional competencies and assured that the working relationship between the board and management of the agency which is defined in the Rivers State Microfinance Agency LawNo.6 of 2008, would be defined by professionalism.
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“The board under our watch shall exercise its independence as provided in the law. Similarly, the relationship between the board and its subsidiary is also clearly defined in the law. In the exercise of its oversight function over the RIMA Growth Pathway Microfinance Bank, we shall also endeavour to be guided by the provisions of BOFIA (2020), CBN Microfinance Regulatory Framework (2012) and the CBN Code of Corporate Governance for Microfinance Banks (2019),” he added.

Prof. Toby assured that the board of the agency under his watch will pursue a strategy that is sustainable, prudent, and development-oriented, stating that the time of spending government finances recklessly was over.

In order to address longstanding consumer complaints against the activities of Digital Money Lenders and Mobile Money Operators (MMOs) popularly known as loan sharks the Federal Competition and Consumer Protection Commission (FCCPC) has officially issued the Digital, Electronic, Online, or Non-Traditional Consumer Lending Regulations (DEON Consumer Lending Regulation), 2025.

Other acts covered in the new law include exploitative practices, data privacy violations, abusive loan recovery tactics, harassment, and anti-competitive behaviour by certain digital lenders and their partners within Nigeria’s rapidly growing digital credit market.

Ondaje Ijagwu, Director of Corporate Affairs at the Federal Competition and Consumer Protection Commission, FCCPC, who disclosed this in a statement on Wednesday, said non-compliant operators of the new regulations face sanctions, which include fines of up to N100 million or 1 per cent of turnover, as well as potential disqualification of directors for up to five years.

“For too long, Nigerians have endured harassment, data breaches, and unethical practices by unregulated digital lenders. These regulations draw a clear line that innovation is welcome but not at the expense of the rights and dignity of consumers or the rule of law.

This Regulations, made pursuant to Sections 17, 18, and 163 of the Federal Competition and Consumer Protection Act (2018), primarily safeguards consumers by establishing a comprehensive framework.

This framework mandates transparency, fairness, responsible conduct, data privacy, and accessible redress mechanisms, all under the oversight of the FCCPC.

It is a crucial step toward regulating Nigeria’s rapidly expanding digital lending sector.

These regulations draw a clear line that innovation is welcome, but not at the expense of rights and dignity of consumers or the rule of law.
“This Regulations provide the legal tools to hold violators accountable and promote responsible digital finance. No consumer should be harassed, defamed, or lured into unsustainable debt under the guise of digital lending.”

The Regulations, which came into effect on July 21, 2025, establishes a robust legal framework to register, monitor, and sanction all forms of digital and non-traditional lending in Nigeria.

Applicable to all unsecured consumer lending conducted through electronic, online, mobile, or other non-traditional means, the regulations set out clear requirements for registration, transparency, data privacy, ethical recovery, fair interest rates, and responsible lending. Critically, the Regulations prohibits pre-authorised or automatic lending, compels clear and accessible loan terms, bans unethical marketing, and mandates local ownership of at least one service provider for airtime and data lending services.

It also requires joint registration of all lender partnerships and prohibits monopolistic or dominance-based agreements without prior Commission’s approval. Under its provisions, all digital lenders must register with the FCCPC within 90 days of commencement.

Approval is dependent on meeting consumer protection, data compliance, and transparency.

The FCCPC urges all current and intending providers of digital lending services, including Mobile Money Operators (MMOs), Digital Money Lenders (DMLs), and service partners, to visit http://fccpc.gov.ng for application forms, guidelines, and compliance requirements.

The Commission advised consumers to report unlawful or unregistered lenders, unfair interest rates, or privacy violations to the Commission through its complaint portal:

The federal government has declared Friday, 5th September 2025, as a public holiday to commemorate the celebration of Eid-ul-Mawlid, the birth of the Holy Prophet Muhammad (Peace Be Upon Him).
Nigeria’s Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, extended warm felicitations to Muslims Umah in Nigeria and across the world on this occasion

In a statement Wednesday in Abuja, signed by the ministry’s permanent secretary, Dr. Magdalene Ajani, further called on Nigerians, regardless of their religious beliefs, to use the occasion to pray for the peace, security, and stability of the country, while supporting the Federal Government’s efforts in fostering national harmony and sustainable development.

“The celebration of Eid-ul-Mawlid offers us yet another opportunity to strengthen the bonds of brotherhood, promote peaceful coexistence, and imbibe the Prophet’s teachings of mutual respect and selfless service to humanity,” the Minister stated.

Dr. Olubunmi Tunji-Ojo also urged citizens to remain law-abiding, security conscious, and supportive of government policies aimed at ensuring the collective well-being of all Nigerians.