UcProgress | Breaking News, Education & Nigeria Updates

  By UcProgress Nigeria News Desk The Federal Airports Authority of Nigeria (FAAN) has clarified that a viral SMS message informing Nigerians about its “Operation Go Cashless” initiative is authentic, following widespread online claims that the message was fraudulent. The clarification comes after counter-messages circulated on social media warning recipients not to open or click any links attached to the SMS, alleging that it could compromise bank accounts. FAAN has dismissed those claims as misleading, stating that the message forms part of its official public sensitisation campaign ahead of the implementation of its airport cashless payment policy. The issue matters because misinformation relating to financial transactions can create panic, reduce public trust, and potentially expose citizens to actual fraud schemes. Background The Federal Airports Authority of Nigeria oversees the management and operations of federal airports across the country. In recent years, the agency has ...

By UcProgress Business Desk The retail price of a 50kg bag of cement has risen to as high as ₦11,000 in several markets across Nigeria, according to checks conducted by UcProgress across major urban centres. The development has triggered fresh concerns within the construction sector, as contractors, property developers, and individual home builders grapple with rising building material costs. Market surveys in Lagos, Abuja, Port Harcourt, and parts of the South-East indicate that cement prices now range between ₦9,800 and ₦11,000 per bag, depending on location and brand availability. The increase comes amid persistent inflationary pressure and ongoing economic adjustments affecting production and logistics nationwide. Industry stakeholders say the surge could further slow construction activities, especially for low- and middle-income Nigerians building personal homes. Background Cement prices in Nigeria have experienced consistent volatility over the past three years. In early 2023, av...

  A United States district court has sentenced Paulinus Iheanacho Okoronkwo, a former general manager at the Nigerian National Petroleum Corporation (now NNPC Limited), to 87 months in federal prison over his role in a bribery scheme connected to oil drilling rights in Nigeria. According to U.S. court proceedings, Okoronkwo was found guilty of receiving approximately $2.1 million in illicit payments linked to the allocation of oil exploration interests. The sentencing marks the conclusion of a case that prosecutors say involved abuse of official position for personal financial gain. The court also imposed supervised release conditions following the prison term. Additional financial penalties or restitution details were not immediately available at the time of reporting. The case highlights the increasing cross-border cooperation between U.S. authorities and international anti-corruption enforcement agencies in prosecuting financial crimes tied to global energy transactions. Oil Lic...