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EFCC Begs World Bank for $42.12m

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By Dipo Olowookere

The Economic and Financial Crimes Commission (EFCC) has appealed to the World Bank Group for the sum of $42.12 million to enable it use for the completion of its permanent site in Abuja.

Acting Chairman of the EFCC, Mr Ibrahim Magu, disclosed that the approval of the money would go a long way in enabling the agency achieve more successes.

Mr Magu said at the moment, the EFCC carries out its operations in rented offices scattered around town, exposing the commission to risk of confidentiality and coded surveillance by outsiders.

The EFCC boss, while receiving the Director of Governance Global Practice at the World Bank, Mr Ed Olowo-Okere, in his office in Abuja on Thursday, acknowledged the great assistance the commission had been receiving from the World Bank and other development partners saying, “The assistance has in no small measure contributed to the successes recorded by the EFCC so far.”

“When we started the EFCC, there was no money. We borrowed money from Bureau of Public Enterprise (BPE) for effective take-off of our operations.

“When the international community saw the sincerity in us, how we were able to arrest and put in cell those high profile criminals that nobody dared to touch before, they got convinced by our commitment towards prosecuting the anti-corruption war,” he said further.

Mr Magu noted that, “We got a lot of attention from development partners particularly the World Bank, who gave us a lot of money that was used to construct the EFCC Academy. Britain and America too are also of tremendous support.”

He expressed concern over the delay usually experienced in dispensing corruption cases and the conspiracy (in some cases) between the criminals and judicial workers/law enforcement agents to make violators of law escape justice, citing the case of a former governor of Adamawa State who was set free with the connivance of a prison warder and court registrar after being convicted by court.

Expressing the passion the EFCC has for the war against corruption, Mr Magu said, “EFCC needs training in money laundering as it is still a new concept which most judges and prosecutors still need to better understand”.

The anti-graft czar also informed the delegation of the low budgetary allocation to EFCC expressing his desire to have the construction work on the Commission’s permanent site completed this year for effective performance.

Mr Magu, while commending President Muhammadu Buhari for making corruption fight a cardinal focus of his administration said, “the proposal of $42.12 million made to the World Bank, if gotten will go a long way in the completion of our permanent site as most of our offices are rented and scattered around town, exposing us to risk of confidentiality and coded surveillance by outsiders.”

Other needs listed by the EFCC boss included, ICT infrastructure, upgrading of the forensic laboratory, surveillance tools and operational vehicles.

In his remarks, Mr Olowo-Okere said the global financial institution would provide support to the anti-graft agency in the area of infrastructure and capacity building to further strengthen the anti-graft war in Nigeria.

Acknowledging the tremendous work of the EFCC and the feat it had attained in the last 14 years of its establishment, he said the World Bank would ensure it supports the agency in any area possible to further enhance its operations.

“We are preparing an operation called ‘Economic Governance Project’. It is supposed to be a follow-up project to the one approved by the World Bank in 2004.

“The Ministry of Finance has said that one of the agencies they would like us to work with and support under the project is EFCC. We are here today to start that conversation,” Mr Olowo-Okere said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Be Watchful of Economic Hardship in 2026–Primate Ayodele Tasks FG

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Primate Ayodele 2026 prophecies

By Adedapo Adesanya

Popular Nigerian prophet and founder of INRI Evangelical Spiritual Church Lagos, Primate Elijah Ayodele, has called on the Nigerian government to be careful and watchful of economic hardship in the new year.

He made this warning and others at his End of the Year 2025 Press Conference, where he gave prophecies for Nigeria and the world.

According to the man of God, the government will do its utmost best to stabilize things but the balancing will be very difficult.

“The country will face so many political upheaval that will frustrate the efforts of the government in all fronts. I foresee the government in the process will take a lot of wrong steps. There will be wrong pieces of advice,” he said.

“The Lord revealed to me that the efforts of the President will be frustrated with wrong pieces of advice. These are the words of the Lord,” he added.

Primate Ayodele noted that “The spirit of God says in the year 2026, the President must be watchful for what is tagged political nemesis in the country. He needs fervent prayers in this regard.”

He warned President Bola Tinubu to be wary of several advices from different quarters, noting that Nigeria’s opposition groups will frustrate all his efforts unless he is able to take decisive steps to scuttle and scatter the plans, particularly that of the African Democratic Congress (ADC).

“I foresee the ADC members are ready to fight in order to wrestle for the political control of the country from the ruling APC. The main obstacle will be if the ADC is fielding a weak candidate. The ADC will want to use all the apparatus at its command to achieve what they want to do in order to achieve victory at the polls.”

On the 2027 polls, he said the ruling All Progressives Congress (APC) would do everything possible to make sure they use the Independent National Electoral Commission (INEC) and other things within their powers to secure victory.

“The ADC as a political party must watch carefully the unfolding drama. I foresee that all areas where the ADC can have an upper hand during polls will be blocked.”

The prophet as part of his prophecies also foresaw the crude oil from the Nigeria not being of quality grades expected in the international oil and gas market in the next 20 years from now.

On the tax reforms due to start in the new year, Primate Ayodele said this would cause misconceptions and the government needs to explain.

“I foresee our budget will not be properly implemented. They will use budget to fight inflation and hunger yet Tinubu will still borrow surplus money. People will be frustrated,” he said in the prophecies.

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QNET’s Global Reach in 100+ Countries: What International Access Means for Local Distributors

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QNET

Global scale means market access and international supply chains. For individual distributors in direct selling, it can shape everything from product availability to income stability and long-term opportunity.

QNET, the multinational wellness and lifestyle direct selling company, positions its business model around that idea: connecting locally based independent distributors to an international operating platform. With activity spanning more than 100 countries, the company sits within a direct selling industry that, according to the World Federation of Direct Selling Associations (WFDSA), has stabilized after several relatively volatile post-pandemic years.

Global Reach Within a Stabilizing Industry

The WFDSA’s latest global report estimates worldwide direct selling retail sales at roughly $163.9 billion in 2024, essentially flat year over year. That flat performance, however, masks gradual improvement beneath the surface. Nearly half of reporting markets showed growth in 2024, and average market growth rates rebounded to positive territory.

The report estimates more than 104 million independent sales representatives globally in 2024, a figure that has remained largely stable year over year.

This stabilization sets a backdrop for companies like QNET. A global footprint is no longer about rapid expansion alone; it is increasingly tied to resilience: operating across regions with different economic cycles, consumer behaviors, and growth trajectories.

For distributors, this matters because opportunities extend beyond individual effort. They are often shaped by the health of the company’s broader channel and product reach.

A Platform Designed for Distributed Entrepreneurship

QNET’s model centers on local execution supported by centralized infrastructure. Products—ranging from nutritional supplements and wellness devices to home and lifestyle solutions—are sold through the company’s proprietary e-commerce platform. Independent distributors do not manage warehouses, shipment logistics, or customer service systems.

As Ramya Chandrasekaran, who heads communications at QNET, explained in a recent interview, the company views direct selling as a form of accessible “micro-entrepreneurship.” The idea is to reduce the operational burden typically associated with starting a business, allowing distributors to focus on product education, customer relationships, and market development.

Why Global Scale Changes the Distributor Equation

One practical benefit of international reach is product continuity. WFDSA data shows that wellness products account for roughly 29% of global direct selling sales, making it the largest category worldwide. In the Asia-Pacific region, the largest direct selling region by sales, wellness represents more than 40% of total category share.

QNET’s emphasis on wellness and lifestyle products places distributors in line with the strongest demand segments globally. Instead of relying on narrow local trends, distributors operate within product categories that have shown consistent global interest.

International scale also supports consistency in training, compensation structures, and digital tools. Distributors in different countries access identical back-end systems, tracking referrals, commissions, and orders through the same platform. This standardization reduces friction and uncertainty, particularly for individuals operating in markets where informal commerce is common.

Workforce Shifts

The WFDSA’s report highlights notable shifts in the global direct selling workforce. Women continue to make up more than 70% of participants worldwide, and representation among individuals aged 35 to 54 remains the largest cohort.

Independent Distributors increasingly value flexibility, long-term viability, and support systems that allow them to operate sustainably rather than aggressively scale. QNET’s emphasis on digital access, centralized operations, and gradual business building reflects those priorities.

For many participants, especially those balancing work with caregiving or other responsibilities, direct selling infrastructure offers a way to stay engaged at their own pace.

Training, Exposure, and Cross-Market Learning

QNET’s international conventions and training programs connect distributors across regions, creating informal networks for peer learning. Events that draw participants from dozens of countries expose distributors to varied approaches to sales, customer engagement, and market adaptation.

This mirrors one of WFDSA’s broader conclusions: direct selling increasingly functions as a global learning ecosystem, with companies providing tools and education that help individuals navigate uncertain economic conditions.

For distributors, exposure to cross-border experiences can recalibrate expectations, reinforcing that success often comes from steady engagement rather than rapid recruitment or short-term activity.

International Access, Interpreted Locally

Despite its global scale, QNET’s business ultimately plays out in local communities. Distributors adapt messaging around wellness, home quality, and lifestyle enhancement to cultural norms and household priorities. The international platform provides reach and structure, but relevance is built locally.

That balance, global systems supporting local relationships, defines much of modern direct selling. The WFDSA describes the industry not as a single growth story, but as a framework that can scale proportionally with economic conditions across regions.

For QNET distributors, international presence does not guarantee income or uniform outcomes. What it offers is access: to resilient product categories, standardized systems, training resources, and a global marketplace that extends beyond any single region. For local distributors navigating today’s uncertain global economic environment, that is an important foundation to maintain.

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FCCPC Unseals Ikeja Electric Headquarters

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Ikeja Electric

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has unsealed the headquarters of Ikeja Electric Plc in the Lagos State capital after a week under lock and key.

According to a statement on Friday, the electricity distribution company committed to a binding undertaking to comply with the remedial process following consumer rights violations.

The statement signed by Mr Ondaje Ijagwu, Director of Corporate Affairs at the commission, Ikeja Electric undertook to resolve all consumer complaints referred to it by the FCCPC within agreed timelines

The headquarters was earlier sealed on December 11, 2025, because Ikeja Electric allegedly failed to comply with a directive by the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had been without power for over two and half years.

The FCCPC noted that following the resolution, any breach of the undertaking would expose it to renewed and escalated enforcement action under the Federal Competition and Consumer Protection Act.

Reacting, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the Commission’s intervention was necessary to enforce the provisions of the FCCPA (2018).

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” he said.

Clarifying further, Mr Bello said the outcome reflects the commission’s balanced approach to regulation.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

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