President Bola Tinubu has directed that eligible cash recoveries by the Economic and Financial Crimes Commission, alongside about ₦242bn in unclaimed dividends, be channelled into the Nigerian Education Loan Fund to strengthen its long-term financing.   The Minister of Education, Dr Tunji Alausa, announced the decision on Wednesday after the Federal Executive Council meeting at the Presidential Villa in Abuja. According to Alausa, the directive covers only liquid funds recovered by the EFCC. Seized properties and other non-liquid assets are excluded. He also said funds involved in ongoing legal disputes would not be transferred. Only cleared and unencumbered funds legally available for use will qualify. The government’s decision also covers unclaimed dividends held under the Capital Market Trust Fund and the Dormant Account Trust Fund. Alausa said the Attorney-General of the Federation, Lateef Fagbemi, will work with the Ministries of Finance and Education and the Debt Management Office to establish the legal framework for transferring the funds. The move comes as NELFUND continues to expand its support for Nigerian students. Alausa said more than 1.2 million students are currently benefiting from the scheme, while over ₦93bn has been disbursed as student stipends and more than ₦250bn released to public tertiary institutions for institutional fees. The minister said the latest funding arrangement is intended to ensure that NELFUND can meet its growing financial obligations as demand for student loans increases. The figures on unclaimed dividends were attributed to the Securities and Exchange Commission. The amount has risen from about ₦158.4bn in 2019 to approximately ₦242bn, with outdated shareholder records, unresolved estate matters and missing bank account linkages among the factors contributing to the accumulation. FEC approves ₦155bn for National Library The Federal Executive Council also approved about ₦155bn to complete and furnish the National Library of Nigeria headquarters complex in Abuja. The approval comprises approximately ₦118.31bn for construction works and about ₦37bn for furnishing. The National Library project began on April 29, 2006, with an original completion deadline of February 2008. Construction stopped in October 2008. Alausa said President Tinubu had directed the government to mobilise funds to restart the project, with resources also coming from the Tertiary Education Trust Fund. He said First Lady Oluremi Tinubu helped raise about ₦25bn through birthday donations towards the project. The government expects construction to resume in the coming months. 14 universities to receive entrepreneurship programme FEC also approved an Entrepreneurship, Innovation and Business Incubation Certification Programme for 14 federal universities. The initiative will provide students with training in entrepreneurship, innovation, business incubation and enterprise development, alongside digital certification, mentorship and incubation support. The participating universities are Ahmadu Bello University, Bayero University Kano, Nnamdi Azikiwe University, Obafemi Awolowo University, University of Abuja, University of Benin, University of Ibadan, University of Ilorin, University of Jos, University of Lagos, University of Maiduguri, University of Nigeria, Nsukka, University of Port Harcourt and Usmanu Danfodiyo University. FEC also approved the establishment of the Academy for Gifted and Talented Children by granting the existing Suleja Academy autonomous status and providing for its own governing board and council. The Federal Government said the Attorney-General would prepare an executive bill for transmission to the National Assembly.

A former Zambian minister, Mutotwe Kafwaya, has been killed during a security raid on property linked to opposition politician Brian Mundubile, according to Zambian police.   Kafwaya, 49, was fatally wounded during an exchange of gunfire between security forces and unidentified individuals in Lusaka, authorities said. The operation was conducted by a joint security task force following Zambia’s presidential election. Police said 11 people were arrested and weapons were recovered during the raid. According to the BBC, authorities accused Mundubile’s political alliance of involvement in insurgency and militia activities. Mundubile rejected the allegations as “total fabrications” and said he had not been informed about Kafwaya’s whereabouts after the former minister was shot. Police said security personnel encountered gunfire and resistance from unidentified individuals and returned fire. One unidentified man was fatally wounded, with a firearm recovered from the scene. Kafwaya was later identified by members of his family. However, accounts of the shooting remain disputed. A recent report said Mundubile alleged that soldiers entered his residence and opened fire, striking Kafwaya. The account has not been independently verified, while the government has rejected allegations that the army shot the former minister. Kafwaya entered parliament in 2016 and later served as Zambia’s Minister of Works and Supply before becoming Minister of Transport and Communications under former President Edgar Lungu. He remained involved in opposition politics after Lungu lost the 2021 presidential election to President Hakainde Hichilema. Electoral records confirm Kafwaya represented Lunte for the Patriotic Front. The raid came amid heightened political tensions following Zambia’s presidential election. Hichilema was declared the winner, while Mundubile rejected the result and said he intended to challenge the outcome in court. The United Nations human rights chief has expressed concern over the arrests linked to the security operation and urged Zambian authorities to respect the due-process rights of detainees. The European Union election observation mission also raised concerns about aspects of the vote-counting process, including delays, verification procedures and the presence of military personnel at some tallying centres. Kafwaya’s death is expected to attract further scrutiny as questions remain over the circumstances of the security operation and the treatment of opposition figures in its aftermath.

Governor Ademola Adeleke has received his Certificate of Return from the Independent National Electoral Commission following his victory in the Osun State governorship election.   Adeleke was declared winner after polling 511,067 votes, defeating the All Progressives Congress candidate, Bola Oyebamiji, who scored 444,815 votes. Speaking after receiving the certificate on Wednesday, Adeleke said the victory belonged to the people of Osun State and pledged to support victims of violence recorded before and during the election. He announced that the Osun State Government would establish a ₦500 million election violence victims endowment fund to provide assistance to verified victims and affected families. A verification and relief committee, chaired by the Speaker of the Osun State House of Assembly, Adewale Egbedun, will oversee the identification of victims and distribution of support. Adeleke also said his family, through the Springtime Development Foundation, would provide scholarships up to university level for children and dependants of people who lost their lives in election-related violence. Meanwhile, gunshots were reported near the palace of the Ataoja of Osogbo shortly after Adeleke’s visit to the monarch. Although the governor’s Commissioner for Information and Public Enlightenment, Kolapo Alimi, initially said there was no casualty, the Osun State Police Command later confirmed that a 60-year-old resident, Tajudeen Yusuf, was shot dead during the ensuing violence. According to the police, the incident followed a confrontation after a suspected thug, Adebayo Taoreed, popularly known as “Small Rugged”, allegedly attempted to gain access to Afrobeats singer Davido, who had accompanied his uncle to the palace. The police said the confrontation attracted suspected gang members and temporarily obstructed the governor’s convoy before it eventually left the area safely. Police said Yusuf was later shot at Itaolokan, Osogbo, and died at the Osun State University Teaching Hospital after being taken there for treatment. The command said it had launched a full investigation and was working to apprehend those responsible for the killing. The incident also prompted Davido to clarify that the violence was not connected to him or the governor, saying it was a fight outside the palace.

US President Donald Trump has threatened “tremendous” economic consequences for any country that helps Iran, as Washington intensifies pressure on Tehran amid the ongoing conflict.   Trump announced what he described as the “most crushing economic operation” ever imposed on a country, calling the campaign “economic warfare and isolation on an unprecedented scale”. The US president made the announcement on Truth Social on Wednesday, warning that countries whose financial institutions, businesses, airports or government entities provide Iran with any form of economic support could also face punishment. He did not specify what measures the affected countries would face, nor did he name any country as a target. Trump said the campaign would target activities including oil smuggling, cash transfers, exchange houses, ship registries, front companies and financial arrangements that could provide Iran with economic support. The announcement comes amid stalled efforts to end the conflict between the United States and Iran and reopen the Strait of Hormuz, a vital global shipping route. According to Channels Television, the Strait remains significantly disrupted, while recent attempts to reach an agreement on reopening the corridor have failed. Trump also said on Tuesday that talks were off, despite reports that messages had continued to pass between the two sides. The latest move further escalates Washington’s economic pressure on Tehran, which has already faced extensive US sanctions. Iran has rejected Trump’s approach. Iranian Foreign Minister Abbas Araghchi described the latest economic pressure plan as a continuation of what he called “failed policies”, saying it would not force Tehran to surrender. Reuters also reported that the conflict has severely disrupted global oil markets because of the impact on shipping through the Strait of Hormuz. Oil prices rose following Trump’s announcement, with traders assessing the potential effect of further restrictions on Iranian trade. The Trump administration’s latest announcement comes as the war approaches its sixth month, with no immediate diplomatic or military resolution in sight.