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Nigeria off FATF grey list

Nigeria Exits FATF Grey List: Governors Celebrate Major Financial Milestone

Author October 26, 2025 0

Nigeria has officially been removed from the Financial Action Task Force (FATF) grey list, signalling a major victory for the country’s financial-sector reforms and global credibility. The announcement came on October 25 2025, and was met with congratulations by the Nigeria Governors' Forum (NGF), which commended Bola Ahmed Tinubu and the Nigerian people for the achievement.

In a statement, the Governors’ Forum described the exit from the grey list as “a clear testament to leadership, institutional integrity and renewed global confidence in Nigeria’s governance.” They said this milestone would strengthen transparency, support investment flows and reinforce the government’s anti-corruption drive.

For many years, being on the FATF grey list meant Nigeria faced increased scrutiny from international banks, higher transaction costs and reputation risk. By meeting the benchmarks for anti-money-laundering (AML) and counter-terrorist-financing (CTF) frameworks, Nigeria now stands poised to benefit from improved access to global financial markets and partnerships.

Key implications

  • Foreign investment: With the stigma removed, Nigeria could attract more foreign direct investment (FDI), especially in financial services, fintech and cross-border trade.

  • Banking & remittances: International banks may ease restrictions and fees on Nigerian transactions, while remittance flows could improve for diaspora Nigerians.

  • Governance & reforms: The achievement reflects the administration’s earlier reform agenda — budget discipline, exchange‐rate unification, subsidy removal — and validates those efforts.

  • Local businesses: Nigerian startups, especially in fintech, may find fewer barriers when dealing with foreign partners, opening up new growth corridors.

Challenges ahead

However, the milestone is not the end of the road. Nigeria must now maintain compliance with global standards, address weak spots in its financial system and ensure that reforms deepen. Issues such as transparency of public procurement, enforcement of regulations, and capacity of regulatory agencies will remain in focus.

Furthermore, the benefits for ordinary Nigerians depend on whether improved international standing translates into jobs, cheaper credit, lower remittance costs and better banking services. Without visible domestic impact, the victory might be seen as symbolic rather than substantive.

What to watch

  • Will international banks announce improved terms for Nigerian clients or investments?

  • Will Nigerian fintech companies leverage the improved status to scale internationally?

  • Are there new legislative or regulatory moves to capitalise on this milestone (eg. fintech licences, international trade agreements)?

  • How will the government report the impact of this change on ordinary citizens—through jobs, inward investment, or development projects?

Conclusion

Nigeria’s removal from the FATF grey list is a noteworthy achievement, signalling one of the clearest external validations of the country’s reform path. For GistVibes readers, this is a story that combines governance, finance and national image — and it opens fresh angles on how policy changes affect the economy, diaspora Nigerians, startups and everyday banking life. The next chapter will be about turning this recognition into real‐world gains for Nigerians.

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Nnamdi Kanu Sacks Legal Team, Chooses to Defend Himself in Ongoing Terrorism Trial

In a dramatic turn of events at the Federal High Court, Abuja, the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has disengaged his entire defence legal team and opted to handle his case personally. The decision came during Thursday’s court session, shortly before the continuation of his terrorism-related trial. His former lead counsel, Kanu Agabi (SAN), informed the court that his client had chosen to represent himself. “A number of voices have been defending Nnamdi, and he has decided to conduct his defence by himself,” Agabi stated. “We respect his decision and wish him well.” Following this announcement, the legal representatives formally withdrew from the case and left the courtroom. Ongoing Trial and Medical Evaluation Kanu has been standing trial since 2015 on multiple charges bordering on terrorism and calls for the secession of Nigeria’s South-East region. His ongoing detention and trial have sparked wide national and international attention. The court was set to hear the opening of the defence proceedings when the sudden disengagement occurred. Reports suggest that the move might cause delays as Kanu decides whether to continue representing himself or appoint a new legal team later. Prior to this development, Kanu’s lawyers had applied for his transfer to the National Hospital Abuja, citing medical reasons. However, a panel set up by the Nigerian Medical Association (NMA) later certified him fit for trial after an independent medical examination. Possible Change in Legal Strategy Kanu had also filed a motion naming several government and security officials as potential witnesses in his defence, indicating that he intends to take an active role in his case. This latest move has raised fresh speculation about internal disagreements and possible changes in legal strategy. As of press time, no official statement has been released by the IPOB leader or his representatives explaining the reason behind the decision.

Ewossa: The Cultural Heart of Esanland Preserving Tradition and Unity in Edo State

Deep in the central part of Edo State, within Igueben Local Government Area, lies a vibrant Esan community known as Ewossa — a town proud of its heritage, culture, and collective spirit. Ewossa represents one of the oldest and most united communities in Esanland, with a deep sense of identity that continues to thrive even in modern times.   📍 Location and Political Division Ewossa is officially recognized as Ward 9 under Igueben Local Government Area, Edo Central Senatorial District. It shares boundaries with Ekpon and other smaller surrounding villages within the Esan region. Despite common misconceptions, Ewossa is not historically connected to the Benin Kingdom, but rather forms part of the independent Esan tribe, which developed its own governance and traditions long before colonial contact.   🏘️ Quarters and Community Structure Ewossa is made up of different main quarters, each representing family lineages and traditional roots that define the town’s social structure: Idumu-Ogo Ikokogbe Eguare Ikekiala Idumu-Agbor Idumu-Egha Idumu-Obo Idumu-Oliha Ujielu Each quarter plays a role in community decision-making, festival organization, and youth development. Together, they form the core of Ewossa’s traditional administration.   👑 Traditional Leadership At the head of the community stands the Onogie of Ewossa, who serves as the custodian of the town’s customs, values, and traditional laws. The Onogie’s palace is located in Eguare, which is considered the royal heart of Ewossa. The Onogie is supported by a council of elders and titled chiefs who oversee peace, justice, and development at the local level. Community disputes, land issues, and cultural matters are resolved using traditional Esan systems of mediation that emphasize dialogue, respect, and fairness.   🪶 History and Heritage Ewossa’s history reflects the deep roots of the Esan ethnic nation — a people known for self-governance, communal strength, and respect for ancestral traditions. Unlike some Esan towns that trace origin stories to Benin migrations, Ewossa’s oral history speaks of an indigenous Esan lineage, with its own founding ancestors who established the settlement on fertile lands ideal for farming and living in harmony with nature. Over the centuries, Ewossa has maintained a reputation for hospitality, peaceful coexistence, and resilience in times of change.   🌾 Economy and Occupation Agriculture remains the mainstay of Ewossa’s local economy. The people are predominantly farmers, cultivating crops such as: Yam Cassava Maize Plantain Palm produce Vegetables and cocoyam Market days are lively, with traders from nearby communities coming to exchange goods, produce, and cultural stories. The youth also engage in craftwork, transportation, and small-scale business.   🏫 Education and Youth Development Ewossa values education highly. The community has several primary and secondary schools serving both local pupils and students from neighbouring areas. Over the years, educated sons and daughters of Ewossa — many now living in urban cities and abroad — have contributed to school renovations, scholarships, and youth empowerment programs. Recent initiatives by private individuals and NGOs continue to support education and healthcare access, showing that Ewossa’s progress is driven by its people.   🎭 Festivals and Cultural Identity Ewossa’s cultural life is rich and colorful, with traditional ceremonies marking various stages of life and community events. Among the most important are: Igue Festival – Celebrated annually to mark the end of the year and purification of the land. New Yam Festival – A harvest celebration showing gratitude to the gods for bountiful produce. Age-grade ceremonies – Recognizing transitions from youth to adulthood and community service. Traditional dances, songs, and masquerades add rhythm and colour to Ewossa’s festivals, attracting indigenes from across Nigeria and the diaspora.   💫 Religion and Beliefs While Christianity has become dominant, traditional beliefs still hold symbolic importance. Ancestral worship, moral codes, and respect for elders remain vital in maintaining social harmony. Many families blend traditional rites with modern faith practices.   🌍 Modern Development and Diaspora Involvement Today, Ewossa continues to grow with improved road access, better schools, and new social projects supported by indigenes both at home and abroad. The Ewossa Development Association (EDA), along with local youth and women’s groups, plays a key role in uniting the community and promoting grassroots progress. Ewossa sons and daughters in the diaspora often return during festive periods, bringing not only gifts but also knowledge, resources, and investments aimed at uplifting the town’s living standards.   💬 Ewossa’s Place in Esanland As part of the broader Esan cultural family, Ewossa shares language, traditional values, and ancestral pride with other Esan towns such as Ekpon, Igueben, and Uromi. 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BP Revises Outlook: Expects Global Oil Demand to Rise Until 2030

Global energy major BP published its latest energy outlook, signalling a significant revision: the company now expects global oil demand to continue increasing until 2030, rather than peaking this year as earlier projected.   Key Takeaways BP’s revised “Current Trajectory” scenario predicts world oil demand reaching about 103.4 million barrels per day (bpd) by 2030, up from previous expectations that demand might peak sooner.  The adjustment reflects slower gains in energy efficiency and delayed widespread adoption of renewables, according to the company. In its “Below 2-Degrees” scenario (aligned with climate goals), demand could peak in 2025 at ~102.2 million bpd and then fall to ~83 million bpd by 2050 — but that path depends on major policy shifts and technology.  BP sees natural gas demand growing ~20% by 2040 in the scenario it deems most likely.   Why It Matters For global business: This signals that major energy players are still banking on fossil fuels for at least the next five years, which affects investment decisions, infrastructure build-out and supply chains. For Nigeria and oil-exporting economies: Continued demand gives room to invest in upstream production, export capacity and partner with oil majors, although much depends on cost, environment and regulation. For investors: The outlook may encourage continued investment in oil & gas assets, but also raises questions about whether capital is being allocated optimally for the transition to clean energy. For GistVibes readers: This story gives a vantage into how the global energy shift affects Africa, Nigeria’s oil sector, local jobs, and long-term government revenue planning.   Risks & Watch-Points Forecasts are only as good as assumptions — the pace of renewables, policy changes, demand destruction (e.g., from EV adoption) could accelerate, invalidating current expectations. If oil demand remains elevated, yet production fails to grow accordingly, prices could spike — good in short term for exporters, but risk for importers and inflation globally. Environmental risk: Countries investing now in oil may face stranded-asset risk if the transition accelerates faster than anticipated. For Nigeria: Focus must be on cost competitiveness, local content, environmental compliance — not just chasing production numbers.   What to Watch How much NPDC, NNPC Nigeria or other national oil companies adjust their long-term plans based on BP’s revised outlook. New deals or infrastructure build-outs by oil majors in Africa or the Middle East in response to extended oil demand. Shifts in investment flows away from renewables toward oil/gas if expectation of demand remains strong. Policy/regulatory responses: Will governments extend incentives for fossil fuel investment or accelerate moves toward transition?   Conclusion BP’s revised outlook — projecting that oil demand will rise until 2030 — underlines the complexity of the energy transition. While clean energy narratives remain dominant, the reality of global supply and demand dynamics suggests fossil fuels still have a major role to play in the near term. For Nigeria and other oil-exporting countries, the window remains open to benefit — but only if reforms, infrastructure and global competitiveness are in place. For GistVibes readers, this is a business story with local implications: jobs, revenue, investments and policy.

Meta Launches AI Avatar Studio for Instagram and WhatsApp Creators

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OpenAI’s Next Move: A Generative AI That Creates Music from Text & Audio Prompts

Introduction OpenAI is reportedly developing a new generative music tool that could reshape how creators produce audio. According to a recent report, the tool would allow users to input text prompts or audio cues (such as a vocal line) and receive full musical compositions or instrument accompaniment in response. This move places OpenAI in direct competition with emerging leaders in AI music like Suno, while reigniting debates around copyright, creative ownership, and the role of human artistry.  What’s the Tool Supposed to Do? Text-to-music generation: You might type something like “upbeat jazz guitar backing for a cooking video” and the AI composes a track to match.  Audio prompt “fill-in” or accompaniment: For example, supply a vocal track and the AI could add guitar, strings, or beats to support it.  Video integration: The tool might also help auto-score videos by generating musical backing that matches the scene. Notably, OpenAI is reportedly collaborating with students from Juilliard School to annotate musical scores and build high-quality training data.  Why This Matters (and What’s New) OpenAI isn’t new to music AI: in 2020 they released Jukebox, a research project that could generate raw audio music conditioned on styles, genres, and lyrics.  However, the new tool seems more ambitious and production-oriented. It suggests deeper integration into content creation workflows, potentially linking with OpenAI’s existing platforms like ChatGPT and the video model Sora.  If successful, it could offer creators a one-stop solution: write a prompt, generate visuals + audio, and deploy content faster than ever. Challenges, Risks & Open Questions Copyright & ownership: Who owns the music generated— the user, OpenAI, or the model? AI music tools have already faced legal scrutiny around training data usage.  Quality & coherence: Maintaining musical structure, motifs, harmony, and emotional consistency is tough, especially over longer spans. Artist displacement fears: Some worry that such tools may reduce demand for human composers and session musicians. Bias in training data: If datasets skew toward particular genres or cultures, outputs may lack diversity. Commercial model & release timeline: It remains unclear when the tool will launch, how it will be monetized, or whether it will be embedded in existing OpenAI products.  What to Watch Will OpenAI bundle this into ChatGPT or Sora, or release it as a standalone product? How will they navigate licensing or partnerships to avoid legal issues? Will the tool support multilingual music styles and non-Western genres? How will it enable creator control (e.g. allowing remixing, stems, tweaks)? Implications for Content Creators & Musicians Faster prototyping: You could get instant music ideas and backs for your projects. Democratization: Non-musicians might craft decent tracks for podcasts, videos, or social media. Hybrid workflows: Musicians may use the AI tool to spark ideas, then refine them manually. New revenue models: AI-generated music might integrate with NFT, streaming, or licensing ecosystems. Ethical use: Creators will need to consider attribution, transparency, and fair use when using generated music. Conclusion OpenAI’s rumored generative music tool marks a bold step into audio creativity. If executed well, it could become a cornerstone in the future of multimedia content, merging text, visuals, and sound in a seamless AI ecosystem. But success will depend not just on technical prowess, but how well OpenAI handles the thorny issues of ownership, creative intent, and fairness in the arts.

Mr Gentility

Reporting from GistVibes

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Nigeria Extends National Assembly Resumption to October Amid Legislative Calendar Review

The leadership of Nigeria’s National Assembly has officially announced the postponement of its resumption date from September 23 to October 7, 2025, citing adjustments to the legislative calendar and the need for additional consultations ahead of key national debates, including the 2026 Appropriation Bill and several pending constitutional amendment proposals. The notice, signed by Magaji Tambawal, Clerk to the National Assembly, and circulated to all lawmakers, stated that the extension was made after deliberations between the leadership of both chambers — the Senate and the House of Representatives — to ensure smoother coordination of upcoming legislative activities. “Distinguished Senators and Honourable Members are hereby informed that plenary sessions earlier scheduled for Tuesday, September 23, 2025, have been postponed to Tuesday, October 7, 2025. All standing committees are to continue with their oversight and legislative assignments in the interim,” the circular read. This development has generated widespread interest across Nigeria’s political and civic space, as the extension comes at a crucial time when public pressure on lawmakers to deliver tangible reforms is growing stronger.   ⚙️ Background: Why the Delay Matters Now Nigeria’s legislative year typically follows a structured calendar — with resumption in September following the long recess — but this year’s schedule was disrupted by multiple factors. According to insider sources, the delay is partly linked to: Budget Preparations: Ministries and agencies are yet to complete submissions for the 2026 federal budget, which will be presented to the National Assembly before the end of the year. Lawmakers reportedly requested additional time for pre-budget consultations. Constitutional Amendment Review: The Constitution Review Committee, chaired by Deputy Senate President Barau Jibrin, has been fine-tuning several amendment proposals, including local government autonomy, state policing, and judicial reforms. Political Alignment: With the 2027 elections gradually approaching, internal caucus meetings within major parties have intensified. Lawmakers are said to be using the extension to align politically, consolidate base support, and strategize for upcoming primaries. Infrastructure Maintenance: The National Assembly complex in Abuja has been undergoing partial renovations, particularly in the Senate Chamber, where ongoing technical upgrades delayed session readiness.   💬 Mixed Reactions from Lawmakers and Citizens The announcement sparked mixed reactions across the political spectrum. Some lawmakers welcomed the decision as “strategic and responsible,” while others described it as “a needless delay” that could slow down governance. Hon. Akin Alabi, a House member representing Egbeda/Ona-Ara Federal Constituency, said: “The rescheduling was necessary for coordination. We have a backlog of oversight reports and budget inputs to tidy up. We need to hit the ground running when plenary resumes.” However, Senator Shehu Sani, a former lawmaker and public commentator, criticized the move on X (formerly Twitter), writing that the “National Assembly must avoid the perception of lethargy at a time Nigerians expect proactive leadership and legislative urgency.” Civil society groups, including BudgIT and YIAGA Africa, also called on lawmakers to prioritize transparency and efficiency when they resume. BudgIT’s Policy Director, Seun Onigbinde, noted that “Nigeria’s budget cycle has historically been delayed due to legislative slowness. Every postponement risks affecting capital releases and project implementation timelines.”   🏛️ Key Legislative Items Pending Before Resumption When plenary resumes in October, lawmakers will face a packed agenda that includes: The presentation of the 2026 Appropriation Bill by President Bola Tinubu’s administration. The long-awaited Petroleum Industry Fiscal Reform (Amendment) Bill aimed at adjusting royalty structures and promoting gas investment. The National Minimum Wage Bill, which seeks to review Nigeria’s wage framework in light of rising inflation. The Electoral Act Amendment Bill, which may revisit provisions on electronic transmission of results, campaign financing, and internal party democracy. Oversight reports on oil theft, public debt management, and insecurity expenditures. The success or failure of these bills will shape Nigeria’s policy landscape for the coming year, particularly in terms of economic recovery, energy reform, and political credibility ahead of the next general elections.   📈 Political Implications and Leadership Dynamics Observers say the delay could also be tied to internal power negotiations within the National Assembly. Sources close to the leadership revealed that certain chairmen of influential committees, particularly in finance, works, and petroleum, have been pushing for broader autonomy and budgetary control over their oversight functions. In the Senate, whispers of minor reshuffles within key committees have been circulating. These internal political maneuvers, according to insiders, may be contributing to the cautious scheduling by the leadership to prevent open confrontation before plenary sessions resume. Additionally, some analysts believe the postponement gives Senate President Godswill Akpabio and Speaker Tajudeen Abbas time to finalize new policy alignment with the Presidency — especially on sensitive bills tied to fiscal reform, tax harmonization, and fuel subsidy savings.   🧠 What Experts Are Saying Policy experts are divided over the broader implications of the delay. Dr. Aisha Lawal, a governance researcher at the University of Lagos, told GistVibes: “Legislative delays are not necessarily bad if they are used for genuine preparation. The challenge in Nigeria has always been execution — not deliberation.” Meanwhile, political economist Dr. Sam Amadi believes the extension could reflect deeper political calculations: “We must remember that the National Assembly is as political as it is legislative. With the 2027 election cycle in view, what you see now is positioning, alliance building, and internal negotiations disguised as procedural delays.”   🔎 The Road Ahead When lawmakers reconvene in October, the political temperature is expected to rise. There are pending motions on: Fuel subsidy savings and how they are being utilized. The lingering issue of power tariff hikes and electricity sector reform. Investigations into crude oil theft and pipeline losses. State-level debt audits requested by the Fiscal Responsibility Commission. These matters will test the legislature’s independence and ability to hold the executive accountable while maintaining cooperation for national development.   ✅ Conclusion The National Assembly’s decision to postpone its resumption to October 7, 2025, is more than a calendar adjustment — it is a reflection of Nigeria’s evolving political and economic realities. As the country grapples with inflation, rising debt, and calls for reform, Nigerians are watching closely to see if lawmakers will return with renewed energy and a commitment to results-driven governance. The coming legislative session is expected to be one of the most defining in recent years, setting the tone for the 2026 budget, constitutional reforms, and early political positioning ahead of the 2027 elections.

Author October 28, 2025 0

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Nnamdi Kanu Sacks Legal Team, Chooses to Defend Himself in Ongoing Terrorism Trial

In a dramatic turn of events at the Federal High Court, Abuja, the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has disengaged his entire defence legal team and opted to handle his case personally. The decision came during Thursday’s court session, shortly before the continuation of his terrorism-related trial. His former lead counsel, Kanu Agabi (SAN), informed the court that his client had chosen to represent himself. “A number of voices have been defending Nnamdi, and he has decided to conduct his defence by himself,” Agabi stated. “We respect his decision and wish him well.” Following this announcement, the legal representatives formally withdrew from the case and left the courtroom. Ongoing Trial and Medical Evaluation Kanu has been standing trial since 2015 on multiple charges bordering on terrorism and calls for the secession of Nigeria’s South-East region. His ongoing detention and trial have sparked wide national and international attention. The court was set to hear the opening of the defence proceedings when the sudden disengagement occurred. Reports suggest that the move might cause delays as Kanu decides whether to continue representing himself or appoint a new legal team later. Prior to this development, Kanu’s lawyers had applied for his transfer to the National Hospital Abuja, citing medical reasons. However, a panel set up by the Nigerian Medical Association (NMA) later certified him fit for trial after an independent medical examination. Possible Change in Legal Strategy Kanu had also filed a motion naming several government and security officials as potential witnesses in his defence, indicating that he intends to take an active role in his case. This latest move has raised fresh speculation about internal disagreements and possible changes in legal strategy. As of press time, no official statement has been released by the IPOB leader or his representatives explaining the reason behind the decision.

Author October 28, 2025 0

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