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Larry Ellison Overtakes Elon Musk As World’s Richest Person After Oracle Stock Soars

 

Oracle co-founder Larry Ellison has become the world’s richest individual, surpassing Elon Musk, after a dramatic surge in Oracle’s share price boosted his net worth by $101 billion, bringing his total to $393 billion, according to Bloomberg’s Billionaires Index. Musk now sits at $385 billion.

The shift in rankings came after Oracle’s earnings report on Tuesday revealed strong demand for its cloud infrastructure services, sending the company’s stock soaring 41% on Wednesday, its largest single-day gain since 1992.

Oracle CEO Safra Catz announced that the company had secured four multibillion-dollar contracts in the past quarter and expects to close more in the months ahead.

“We’ll be talking about this one for a long time,” said Ben Reitzes of Melius Research, describing Oracle’s $455 billion AI services backlog as “staggering.”

The company has rapidly become a major player in AI infrastructure, joining the ranks of Microsoft and Nvidia.

In July, Oracle signed a deal to supply 4.5 gigawatts of electricity to OpenAI for its energy-intensive AI operations.

Ellison, Oracle’s largest individual shareholder, directly benefited from the stock rally.

The company’s market capitalization jumped from under $700 billion on Tuesday to near the $1 trillion mark.

Bloomberg described the spike in Ellison’s net worth as the largest single-day gain ever recorded on its Billionaires Index.

This milestone underscores the growing influence of tech companies at the forefront of artificial intelligence.

Nvidia recently became the world’s most valuable company with a valuation exceeding $4 trillion, while Microsoft briefly reached the same level earlier this year.

Elon Musk, who first claimed the top spot in 2021, has previously been overtaken by Bernard Arnault of LVMH and Jeff Bezos of Amazon. Musk’s fortune remains largely tied to Tesla and SpaceX.

Now 81, Ellison co-founded Oracle in 1977 and has expanded his empire to include ownership of 98% of Lana’i Island in Hawaii and the Indian Wells tennis tournament in California.

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Enugu Wins N100m Award As Nigeria’s Model Green State

 

Enugu State has emerged as Nigeria’s cleanest and greenest state, earning the prestigious N100 million “Model Green State” award under the newly launched Renewed Hope Initiative (RHI) Green Nigeria Challenge.

The award was presented by Nigeria’s First Lady, Senator Oluremi Tinubu, at the Presidential Villa in Abuja on Wednesday during the quarterly meeting with Wives of State Governors and RHI Coordinators.

The Green Nigeria Challenge, an environmental initiative by the RHI, is designed to encourage tree planting, environmental cleanliness and climate-conscious living across three key categories: Households, Communities, and States. The top prizes are N20 million, N50 million, and N100 million for each category, respectively.

Enugu State, represented by the governor’s wife Mrs. Nkechinyere Mbah, received the grand prize of N100 million and a plaque from the First Lady, who commended the state’s consistent efforts in environmental management.

“They earned it. It’s not just about planting trees, Enugu is clean,” Senator Tinubu said, praising the swift responsiveness of the Enugu State government in addressing environmental concerns.

She recalled a discussion with Mrs. Mbah about how the state handles sanitation issues with urgency.

“If anything undesirable is seen, they respond immediately. That’s the way to go,” she added.

The RHI Green Nigeria Challenge carries the slogan “Go Green Today for a Greener Tomorrow” and aims to inspire collective action through environmental transformation projects.

  • Household Category: Targeted at families in 11 northern states prone to desertification — including Borno, Kano, Sokoto, and Yobe — encouraging the planting of at least one tree per household.
  • Community Category: Open to youth groups, NGOs, schools, and local governments across Nigeria to reclaim abandoned or degraded areas by converting them into green parks or gardens.
  • State Category: A competition among states (excluding Enugu) based on visible tree cover, roadside landscaping, and environmental cleanliness.

Entries for the competition are open at www.rhinitiative.org, with deadlines set in 2026.

Senator Tinubu reflected on her environmental activism during her husband’s tenure as Governor of Lagos State, recalling personal efforts to clean clogged drains and promote sanitation.

“People have to see you do what you want them to do. That’s how real change happens,” she said.

She also linked Nigeria’s local efforts to global environmental trends, citing her experience at the G20 Summit in Brazil, where ocean plastic pollution was a major concern.

“Countries are taking action to clean their seas. We must also clean our waterways and protect our biodiversity,” she emphasized.

In collaboration with the Federal Ministry of Environment, the RHI plans to roll out Environmental Clubs in secondary schools and Environmental Societies in tertiary institutions as part of a wider awareness and action campaign.

Speaking to the press, Mrs. Nkechinyere Mbah expressed gratitude to the First Lady for the recognition and praised Governor Peter Mbah, government agencies, and residents for their dedication.

“This award is the result of teamwork, vigilance, and commitment at all levels from the Governor to ESWAMA and local councils,” she said.

She pledged that Enugu would maintain its standards, saying, “We won’t relent. We will keep pushing to remain a model state.”

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Ezekwesili Demands Immediate Reinstatement Of Senator Natasha

 

Dr. Obiageli Ezekwesili, former minister and founder of the School of Politics, Policy and Governance, has strongly criticized the Nigerian Senate for extending the suspension of Senator Natasha Akpoti-Uduaghan beyond six months, calling it an abuse of power and a violation of the Constitution.

In a statement titled “Senate’s Constitutional Overreach in the Case of Senator Natasha Akpoti-Uduaghan,” Ezekwesili urged the Senate to end what she described as an illegal extension of suspension and allow the Kogi Central senator to resume her legislative duties.

Senator Akpoti-Uduaghan was suspended on March 6, 2025, after accusing Senate President Godswill Akpabio of sexual harassment.

Although her six-month suspension period has elapsed, the Senate recently informed her via a letter dated September 4 that the suspension would continue indefinitely, citing an ongoing court case.

Ezekwesili called this justification “fundamentally flawed,” arguing that the Senate cannot hide behind pending litigation to defy both constitutional mandates and a clear court ruling.

She referenced a Federal High Court judgment by Justice Binta Nyako, which declared the suspension excessive and unconstitutional.

According to the ruling, suspending a senator for six months especially when the National Assembly only sits for about 181 days a year—effectively silences the constituents who elected her.

“Democracy begins to die when lawmakers break the law,” Ezekwesili stated, adding that the Senate’s actions reflect a deepening disregard for accountability and judicial authority in Nigeria.

Despite her frustration with what she termed an “unreasonable political class,” Ezekwesili made a passionate appeal for the Senate to comply with the law, respect the court’s decision, and reinstate Akpoti-Uduaghan immediately.

“This is not just about one senator,” she said.

“It’s about whether Nigerians are ready to defend democratic principles against abuse of power. Every day this injustice continues to erode the rule of law and sends a dangerous message to future generations.”

She called on citizens to unite in demanding that the Senate respect the Constitution and uphold the rights of all Nigerians.

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2027: INEC Has No Legal Power To Punish Early Campaigners – Mahmood Yakubu

 

The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has stated that the Commission currently lacks the legal authority to penalize politicians and political parties engaging in early campaigns ahead of the 2027 general elections.

Speaking at a roundtable discussion titled “The Challenges of Premature Political Campaigns in Nigeria”, held in Abuja on Wednesday, Yakubu acknowledged that although Section 94(1) of the Electoral Act 2022 clearly prohibits campaigns starting earlier than 150 days before the election, the law does not include penalties for violating this provision.

He pointed out that the only punitive measure in the law is under Section 94(2), which allows for a fine of up to ₦500,000 for campaigning within 24 hours to polling day, a penalty he described as weak and inadequate to deter violators.

“Political parties and candidates are in constant campaign mode, even when INEC hasn’t released the election timetable,” Yakubu said.

“We’ve observed rallies, billboards, media adverts, and other campaign activities taking place far outside the legal campaign window.”

He noted that these premature campaign activities not only violate the spirit of the law but also hinder INEC’s efforts to monitor campaign finance, as funds are being spent unofficially and outside the regulated campaign period.

Despite public expectations for INEC to act as the regulator of political parties, Yakubu emphasized that the lack of legal sanctions ties the Commission’s hands.

“There are no legal consequences for starting campaigns too early. That’s the core issue,” he added.

Yakubu warned that the absence of enforcement tools has encouraged political actors to continue early campaigning with impunity, mounting billboards, sponsoring media campaigns and organizing rallies well before INEC announces its official timetable.

He urged lawmakers to consider criminalizing premature campaigns to protect the integrity of Nigeria’s electoral process.

“We’re glad to have key stakeholders here, including former INEC Chairman Prof. Attahiru Jega, who will share his insights. We’ve also invited the leadership of both the Senate and House of Representatives Electoral Committees,” Yakubu said.

He expressed confidence that with input from experts, political party leaders, the Nigerian Bar Association (NBA), the National Broadcasting Commission (NBC) and the Advertising Regulatory Council of Nigeria (ARCON), new legal provisions can be drafted to close the current gaps.

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Owo Church Attack: Court Denies Bail To Suspected Al-Shabab Terrorists

 

The Federal High Court in Abuja has denied bail to five men accused of carrying out the 2022 terrorist attack on St. Francis Catholic Church in Owo, Ondo State.

The suspects are alleged members of the Al-Shabab terrorist group and are facing multiple terrorism-related charges.

Delivering his ruling on Wednesday, Justice Emeka Nwite held that the charges against the accused were of a capital nature and that releasing them on bail could endanger public safety.

The five defendants, Idris Abdulmalik Omeiza, Al Qasim Idris, Jamiu Abdulmalik, Abdulhaleem Idris, and Momoh Otuho Abubakar were arraigned on August 11, 2025, on nine counts of terrorism.

These include allegations of membership in a terrorist organisation, possession of illegal weapons and direct involvement in the June 5, 2022, church bombing that killed over 40 worshippers and injured more than 100 others.

The defence counsel, Abdullahi Awwal Ibrahim, had filed a bail application arguing that the defendants had arranged “reliable and responsible sureties.”

The application was heard on August 19.

However, the Department of State Services (DSS), represented by Dr. Callistus Eze, opposed the application.

The prosecution warned that the accused might flee and that granting them bail could intimidate witnesses or compromise the trial.

Justice Nwite agreed with the DSS, describing the application as procedurally flawed.

He pointed out that the defendants’ names were not properly listed on the motion paper, and that the application was backed by a joint affidavit, instead of separate affidavits for each individual, as required by law.

“The charges before the court involve grave national security concerns,” Justice Nwite said.

“The defence has not provided sufficient or credible grounds for bail. To release them would pose a judicial risk.”

The accused are being held under the Terrorism (Prevention and Prohibition) Act, 2022.

Among the charges are participating in meetings to plan the Owo church attack, possession of AK-47 rifles and improvised explosive devices (IEDs), and affiliation with Al-Shabab’s Kogi State cell.

The attack on St. Francis Xavier Catholic Church during Pentecost Sunday Mass in 2022 shocked the nation, triggering outrage and renewed calls for action against terrorism.

It remains one of the deadliest attacks in Nigeria outside the North-East region.

Justice Nwite ordered that the accused remain in DSS custody and granted a request for an accelerated hearing.

The trial is set to begin on October 19, 2025.

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Natasha’s Suspension Over, Any Other Obstruction Will Be Resisted – ADC Warns Akpabio

 

The African Democratic Congress (ADC) has strongly condemned attempts to stop Senator Natasha Akpoti-Uduaghan from returning to the Senate, warning that any further obstruction amounts to abuse of power and a threat to democratic governance.

In a statement released on Wednesday, the ADC’s National Publicity Secretary, Bolaji Abdullahi, criticized the Senate leadership for defying both legal and moral obligations by preventing the Kogi Central lawmaker from resuming after her six-month suspension.

Senator Natasha was suspended on March 6, 2025, over alleged insubordination, which resulted in the loss of her salary, aides, and office privileges.

She claims the suspension was politically motivated, following a petition she submitted accusing Senate President Godswill Akpabio of sexual harassment, an allegation the Senate dismissed.

Despite a court ruling in her favour, the Senate insisted on enforcing the full suspension.

In July, she was denied entry into the chamber by security personnel, prompting public outrage.

Although her legal team has indicated plans for her to resume on September 23, a letter from the Acting Clerk dated September 4 reiterated that her suspension remains, pending an appeal.

The ADC said the continued denial of access to the chamber is unconstitutional and violates the rights of both the senator and her constituents.

“This is not discipline, it is institutional mugging,” Abdullahi stated.

“Senator Natasha has served the full term of her suspension. Any effort to prolong it is illegal, politically motivated, and a threat to the foundations of our democracy.”

The party called the Senate’s stance a dangerous precedent that undermines democratic representation and silences dissent.

Highlighting gender inequality in politics, the ADC expressed concern over the implications for women in governance.

“Senator Natasha is one of only four women in a 109-member Senate. Nigeria’s already poor 2.7% female representation cannot afford further setbacks through intimidation and exclusion,” the party said.

The party demanded immediate reinstatement of Senator Natasha, stating:

“The Senate must not be seen as operating above the law. A pending appeal is not grounds to suspend a citizen’s constitutional rights. Democracy requires dissent, fairness, and respect for the rule of law.”

The ADC also criticised the Clerk of the National Assembly for allegedly siding with political interests by refusing to process her resumption, warning that administrative neutrality is vital to institutional credibility.

The ADC reaffirmed its commitment to defending democracy and supporting women in politics, urging Senate leadership to act in accordance with the law and democratic values.

“Denying Natasha her seat is not just an attack on her—it’s an attack on the people who elected her. The Senate must do the right thing.”

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INEC Officially Recognises David Mark-Led ADC Leadership

 

The Independent National Electoral Commission (INEC) has officially recognised the new leadership of the African Democratic Congress (ADC), now headed by former Senate President David Mark.

In a list published on INEC’s official website on Wednesday, David Mark was named National Chairman, with Ogbeni Rauf Aregbesola as National Secretary.

Other officials listed include Mani Ibrahim Ahmad as National Treasurer, Akibu Dalhatu as National Financial Secretary, and Prof. Oserheimen Aigberaodion Osunbor as National Legal Adviser.

This formal recognition follows weeks of resistance and legal uncertainty after INEC initially declined to acknowledge the ADC’s newly formed leadership coalition.

The new leadership emerged from a major political shift in July 2025, when an opposition coalition comprising prominent political figures adopted the ADC as its unified platform to challenge the ruling All Progressives Congress (APC) and President Bola Ahmed Tinubu in the 2027 general elections.

At a high-profile event in Abuja, David Mark and Rauf Aregbesola were announced as interim chairman and secretary, respectively.

The event was attended by several influential politicians, including Former Vice President Atiku Abubakar, Peter Obi, Labour Party’s 2023 presidential candidate, Babachir Lawal, former Secretary to the Government of the Federation, Nasir El-Rufai, former governor of Kaduna State, Rotimi Amaechi, former governor of Rivers State and several other political heavyweights.

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Blackout Hits As National Grid Collapses Again

 

Nigeria experienced yet another nationwide blackout on Wednesday following the collapse of the national power grid.

The Abuja Electricity Distribution Company (AEDC) confirmed the incident in a public notice shared on its official X (formerly Twitter) handle. According to the statement, power supply was lost at exactly 11:23 am, affecting electricity across all AEDC franchise areas.

“Please be informed that the power outage currently being experienced is due to a loss of supply from the national grid at 11:23 am today,” AEDC said.

The company assured customers that efforts were underway to restore supply as soon as the grid stabilizes.

“We are working closely with relevant stakeholders to ensure power is restored once the grid is stabilized,” the statement added.

AEDC also provided helplines for further inquiries:
Call: 08039070070
WhatsApp: 08152141414, 08152151515

This marks yet another failure in Nigeria’s fragile electricity infrastructure. The grid has collapsed 12 times in 2024 alone, and over 100 times in the past decade.

In February 2025, a similar collapse plunged parts of the country into darkness. The repeated outages have pushed some companies and institutions to seek alternatives.

In April, the Nigerian Electricity Regulatory Commission (NERC) granted approval to six firms and one private university to independently generate and distribute power.

Despite these issues, NERC’s Q1 2025 report claimed there were no recorded system disturbances on the national grid during that period.

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Soludo Orders Arrest Of OCHA Brigade Operatives Over Onitsha Market Shooting

 

Anambra State Governor, Charles Chukwuma Soludo, has ordered the immediate arrest of security operatives involved in the fatal shooting incident that occurred near Emeka Offor Plaza, Onitsha Main Market, on Tuesday.

The incident, which involved members of the state’s task force, reportedly led to the death of one person and left others injured, sparking outrage in the commercial hub.

According to a statement issued by the Anambra State Commissioner for Information, Law Mefor, the governor has directed that those involved be handed over to the police for prosecution.

He also mandated that the medical needs of those injured be fully addressed by the state.

“We appreciate the swift intervention of the Police, who have restored calm and order to the area. An investigation into the incident has commenced, and the government will ensure that all necessary measures are taken to prevent similar occurrences in the future,” Mefor said.

“Regrettably, one of the victims, Miss Chinwe Igwe, was confirmed dead on arrival. Her body has been deposited at the hospital morgue for autopsy and preservation. The other victims are currently receiving treatment and are responding positively.

“Meanwhile, Mr Governor has directed that the suspects be arrested and handed over to the police for prosecution, and for the medical needs of those who sustained injuries to be taken care of.

“Normalcy has since been restored in the area by the Police, while patrols and monitoring continue by law enforcement agents to ensure sustained peace,” the statement added.

The shooting involved operatives of the Operation Clean And Healthy Anambra (OCHA) Brigade, a state enforcement unit responsible for maintaining environmental and sanitation standards.

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Why Tinubu Fired Presidential Aide Fegho Umunubo

 

New information has surfaced regarding the dismissal of Fegho Umunubo, the Special Assistant to President Bola Tinubu on Digital and Creative Economy, who worked under the office of Vice President Kashim Shettima.

According to sources within the presidency, Umunubo was removed from his position after being linked to a series of fraudulent deals in Nigeria’s creative sector.

These scams reportedly involved false promises of government support for various creative projects.

One of the most notable incidents involved a sponsorship agreement with Arese Ugwu, author and producer of The Smart Money Woman series.

Documents reviewed by the press indicate that Umunubo, in his official capacity, pledged ₦10 million in support for the premiere and promotion of Lara Unlimited, a spin-off of Ugwu’s earlier work.

The agreement also promised branding and visibility for the digital economy office on event materials, screening ads, podcast features and influencer promotions.

However, Umunubo allegedly failed to deliver on these terms.

On August 30, Ms. Ugwu took to Instagram to publicly accuse Umunubo of fraud.

“Just so it’s clear that I’m not crashing out over 5 million naira as Fegho Umunubo would like you to believe,” she wrote in her post.

Sources claim this was not an isolated case. Several figures in Nollywood were reportedly deceived into similar fake sponsorship deals, with Umunubo allegedly using his presidential title to gain trust and access.

“He scammed multiple people in the industry using that office,” a source told Premium Times.

Although he was quietly removed from office in August, Umunubo allegedly continued to present himself as a serving presidential aide.

This prompted the State House to release a formal public statement on Monday, officially confirming his disengagement, the first such public disclaimer under the Tinubu administration.

When contacted for comments, Umunubo did not respond to messages sent via Instagram. However, he acknowledged his exit from government service in a post, writing:

“It’s been an honour to serve this great country and the creative industry.”

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