Economy
MMM is Satanic, Has Link with Mark 666—Prophet Okafor
**Death in President’s Family in 2017
**God Will Use Tinubu to Restore Nigeria
By Dipo Olowookere
Senior Pastor of Mountain of Liberation and Miracle Ministry (aka) Liberation Ministry, Mr Chris Okafor, has warned Nigerians to stay away from the popular Ponzi scheme called MMM.
The cleric, in his 2017 predictions, described MMM as “satanic” and not from God, stressing further that it is a “design for mark 666.”
In his other predictions, Prophet Okafor urged Nigerians to pray for a former military president and minister against death.
He also said President Muhammadu Buhari is not the one to lead Nigeria to its Promised Land, but someone to prepare the way for the ‘Messiah.”
The man of God further said he saw “death in family of the President.”
He also said “God will use (Mr Bola) Tinubu to restore Nigeria but he must be prayerful against conspiracy against his life spiritually and physically.”
On the Anambra election, Prophet Okafor said Mr Ifeanyi Ubah will take over from Governor Willie Obiano after his second term in office, but “must pray against conspiracy.”
Below are summary of his predictions:
* Death Of Former Military Head Of State.
* Major fire disaster in homes and market places.
* Death in family of the president.
* Osinbajo will not be impeached but will likely not be Buhari’s running mate.
* The church will be seriously persecuted all over the world beyond what it is currently going through but will have upper hand.
* Another major party would be formed that will wrestle power from the present government.
*Buhari is not the Messiah but to prepare the way for the Messiah.
* MMM is not of God but a design for mark 666.
* Ifeanyi Ubah will take over from the present governor Obiano of Anambra state after his second (2nd) term but he must pray against conspiracy.
* God will use Tinubu to restore Nigeria but he must be prayerful against conspiracy against his life spiritually and physically.
* The football and entertainment industry should pray against death on some major faces.
*Death of present and former minister(s) to be averted through prayers.
* A former leader of PDP to die.
* A popular man behind the pulpit to die.
*A major leader in Africa to die (in the mode of a President.)
* The economic situation will improve in Nigeria through divine intervention.
* There will be a serious attempt to Islamise Nigeria but the Lord says it will not come to pass.
*Boko Haram is going to regroup and will become deadlier but they will be stopped.
*There will be major restoration to a lot of people that have given up and families will be liberated from their strong enemies.
*A former Governor of Akwa Ibom waving goodbye but will be averted through prayers.
*A major country in Europe should pray against the death of a powerful leader.
*Nigeria’s glory days in sports will return, especially in football.
*An opposition party will likely take over power in South Africa. There is going to be a lot of political crises.
*A lot of finance houses/banks and their directors will go through a lot of crises and humiliations.
*Major oil dealers will face a lot of persecution.
*I see a major monarch waving goodbye.
*We have to pray against the outbreak of major airborne disease.
*There will be a major shakeup in the military and the police.
*There would be great improvement and discoveries in the power sector.
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
