Senate approves Tinubu’s $516.3m loan

The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.

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4 months ago

April 30, 2026

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The Senate has approved the $516.3 million loan requested by President Bola Ahmed Tinubu.

The money will be used for the construction of the Sokoto-Badagry Superhighway (Section One, Phase 1A and B).

The approval was given on Wednesday after the Senate considered the report of its Committee on Local and Foreign Debts.

The committee, chaired by Senator Magatagarda Wamakko, recommended the approval of the loan.

The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.

Related Topics:Featured Senate Tinubu’s $516.3m loan request approval

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BREAKING: Uber winds down operations in Nigeria, effective September 2

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.”

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4 hours ago

September 2, 2026

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• An Uber driver at work

Ride-hailing company, Uber, has shut down its operations in Nigeria.

In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.

“After a thorough review, we have taken the difficult decision to wind down operations in Nigeria, effective September 2, 2026.”

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.

“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”

Uber said said its plan is to support drivers, riders and local team members through the transition.

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Allawee shutting down operations by December 1, warns customers must withdraw by November 30

Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.

Published

12 hours ago

September 2, 2026

OCHEFA

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• Allawee logo

Nigerian card-issuing fintech Allawee is shutting down its business and personal account services from December 1, 2026.

This follows its acquisition by Pay Stack.

Accordingly, customers have been given until November 30 to withdraw their funds and make alternative arrangements.

The company disclosed the decision in emails sent to customers, according to TechCabal, explaining that its technology now operates within Paystack following the latter’s acquisition of Allawee in 2025.

Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.

Customers have been advised to withdraw their balances before the deadline, provide new bank details to people or businesses that regularly pay them, and replace saved Allawee card information on subscriptions and other recurring payments.Allawee said customers would not lose their money because of the shutdown. “Your money will remain yours,” the company said.