Consolidated Hallmark Holdings Plc has announced a remarkable 404% growth in profit, reflecting strong business performance and improved returns to shareholders.
The group disclosed this in its financial results for the first half of 2025, highlighting increased revenue from its insurance, microfinance, and technology subsidiaries.
According to the report, the impressive growth was driven by strategic investments, cost optimisation, and expansion into new markets. The company noted that its diversified portfolio has continued to strengthen resilience against economic headwinds.
Industry analysts believe the significant surge positions Consolidated Hallmark among the fastest-growing financial services groups in Nigeria, with a promising outlook for sustained profitability.
The Dangote Petroleum Refinery in Lagos, Nigeria has recorded a sharp increase in fuel exports as several foreign refineries continue to experience shutdowns due to maintenance and operational challenges. Industry experts say the disruptions in overseas refining capacity have created supply gaps in regional and global markets, positioning the $20 billion Lagos-based refinery as a key supplier. The refinery, Africa’s largest, has already begun exporting refined products such as diesel and aviation fuel to markets across West Africa and beyond. Analysts note that the surge in exports highlights the strategic importance of Nigeria’s refining hub in ensuring regional energy security while also boosting foreign exchange earnings for the country. The Dangote Refinery, with a capacity of 650,000 barrels per day, is expected to progressively expand its product range to include petrol and other derivatives as operations scale up.
The Chairman of SAGAMA HOMES and SAGAMA Construction & Engineering Ltd, Alhaji Ali Nuhu, paid a special visit to an orphanage in Kano State, where he donated essential food items to support the orphans and their caregivers. The donation included rice, pasta, cooking oil, and other essential food supplies aimed at easing the burden of the orphanage, especially at a time when the prices of food items are rising in the markets. Speaking during the visit, Alhaji Ali Nuhu explained that the gesture was part of SAGAMA's commitment to community development, as well as a way of showing care to those who need it most. “Caring for orphans and the less privileged is a responsibility we all share as members of the community. This donation may be small compared to the real effort required, but it is a step towards supporting these children,” he said. The management of the orphanage expressed deep gratitude for the visit and the donation, appreciating Alhaji Ali Nuhu for his generosity and kindness. They also prayed for his continued success in all his endeavors. This humanitarian act further demonstrates that SAGAMA Construction Ltd is not only committed to construction and infrastructure projects but also plays a vital role in supporting social welfare and caring for the less privileged in society.
Importers in Nigeria have raised strong objections following a decision by an international shipping company to increase its surcharge fees by $500 per container. The development has sparked concerns among traders, freight forwarders, and industry stakeholders, who argue that the additional cost will further burden businesses already grappling with high exchange rates, inflation, and rising port charges. According to clearing agents at the Lagos ports, the sudden hike is unjustifiable and could lead to higher costs of imported goods in the Nigerian market. They stressed that consumers would ultimately bear the brunt, with prices of essential commodities likely to rise. Industry associations have called on the Nigerian Shippers’ Council (NSC) and the Federal Government to intervene, regulate shipping charges, and prevent arbitrary hikes that threaten trade facilitation. Analysts warn that if not addressed, the surcharge increment could discourage imports and worsen Nigeria’s cost-of-living crisis.
Lagos, Nigeria — A Nigerian migrant has recounted a harrowing ordeal in Libya, claiming his employer trapped him and forcibly drained his blood before he was eventually rescued and returned home. The victim, whose identity was withheld for security reasons, shared his story during a press briefing in Lagos, organized by the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) and the International Organization for Migration (IOM). According to him, what began as a search for greener pastures through irregular migration commonly referred to as “Japa” turned into a nightmare of forced labor, abuse, and exploitation. NAPTIP officials confirmed that several Nigerians have suffered similar abuses in parts of North Africa, warning citizens against falling prey to traffickers and deceptive job offers abroad. Human rights groups have renewed calls for stronger government interventions, stressing the need for awareness campaigns, rehabilitation programs, and safe migration pathways for young Nigerians.
Burkina Faso’s ruling junta has officially criminalized homosexuality, marking a dramatic shift in the country’s legal and social landscape. On Monday, the transitional parliament — made up of 71 unelected members appointed after two coups in 2022 — unanimously approved the new law as part of a sweeping reform of family and citizenship codes. Justice Minister Edasso Rodrigue Bayala, speaking on state broadcaster RTB, announced that same-sex relations would now carry prison sentences ranging from two to five years, alongside heavy fines. Foreign nationals convicted under the law will face deportation. Until now, Burkina Faso was one of the few West African countries where same-sex relationships were not explicitly outlawed. But the junta’s move places the nation among at least 32 African countries where homosexuality is illegal, reflecting a wider regional trend of hardline policies. Similar crackdowns have swept across Africa in recent years — with Uganda, Ghana, and Mali introducing harsher penalties. Burkina Faso’s law signals that the tide of intolerance is spreading further across the continent. Human rights organizations have already condemned the decision, warning that it could fuel discrimination, violence, and further marginalization of LGBTQ communities in the country. For the junta, however, the law is framed as a moral and cultural safeguard — one that they argue defends “family values” in Burkina Faso.
Accra, Ghana – The Bank of Ghana (BoG) has suspended remittance partnerships with five Money Transfer Operators (MTOs), including Taptap Send, Top Connect, Remit Choice, Send App, and Afriex, over regulatory breaches. The suspension, effective September 18, 2025, follows violations involving unauthorized dealings with Payment Service Providers (PSPs) such as Halges Financial Technologies, Cellulant, and Flutterwave, contrary to the Updated Guidelines for Inward Remittance Services. BoG stated that despite repeated warnings, the operators engaged in unapproved channels for inward remittances, unauthorized FX swaps, and application of unofficial exchange rates. The central bank has mandated financial institutions to submit detailed weekly reports on inward remittance transactions to improve oversight.
Lagos, Nigeria — The Oil and Gas Trainers Association of Nigeria (OGTAN) has announced plans to honour the Nigerian Content Development and Monitoring Board (NCDMB), TotalEnergies, and other key industry stakeholders for their contributions to capacity building and human capital development in Nigeria’s oil and gas sector. According to OGTAN, the recognition will be part of its upcoming annual awards ceremony, which celebrates organizations and individuals who have significantly advanced local content, professional training, and industry innovation. The association noted that the honorees have played a vital role in strengthening indigenous participation, equipping Nigerian professionals with relevant skills, and driving sustainable growth within the energy industry. Industry observers say the awards reflect OGTAN’s commitment to promoting excellence and reinforcing the importance of knowledge transfer and workforce development in Nigeria’s oil and gas value chain.
Nairobi, Kenya – A leading global insurtech firm has officially entered the Kenyan market through a strategic partnership with LOOP, a fast-growing local insurance and financial services platform. The collaboration aims to expand access to affordable and tech-driven insurance solutions in Kenya, leveraging LOOP’s digital ecosystem to reach underinsured populations. Through this partnership, customers will benefit from AI-powered claims processing, personalized insurance products, and seamless mobile access to services. Industry analysts say the move reflects the growing demand for digitized insurance models in Africa, driven by a young, tech-savvy population and rising smartphone penetration. LOOP’s strong presence in East Africa, combined with the insurtech’s global expertise, is expected to transform customer experience and increase insurance penetration in the region. Speaking on the development, LOOP’s leadership said the partnership will “redefine how Kenyans interact with insurance by making products smarter, faster, and more inclusive.” The entry also underscores Kenya’s role as a regional hub for fintech and insurtech innovation, attracting global players seeking to tap into Africa’s expanding digital economy.