The MTN Group Chairman, Mr Mcebisi Jonas, on Friday  blamed South Africa’s recurring xenophobic attacks on governance failure.

Jonas said that immigrants were being unfairly scapegoated for deep-rooted national challenges.

He spoke at the funeral of Zimbabwean-born activist and public servant, Thokozani Damasane, where he urged South Africans to embrace humanity, continental solidarity and reject identity politics.

This is according to a statement by the Senior Manager, External Relations, MTN Nigeria, Mr Funsho Aina.

Jonas said that rising hostility toward foreign nationals reflected governance failure, including weak border management, corruption, unemployment, inequality and poor public service delivery.

According to him, expelling foreign nationals will neither tackle unemployment nor reduce inequality, corruption and political opportunism confronting South Africa.

“The problem is the failure of the state. It does not manage immigration, borders, law enforcement, education or other critical responsibilities,” Jonas said.

He said that politicians were exploiting citizens’ frustrations by blaming foreigners instead of addressing governance failure responsible for the country’s socioeconomic difficulties.

Jonas also traced tribalism and ethnic divisions to colonial rule, describing them as artificial identities created to divide Africans and sustain political control.

He urged South Africans to reject ethnic nationalism, saying identity politics had weakened national unity and fuelled intolerance against fellow Africans.

Reflecting on Damasane’s life, Jonas described him as a Zimbabwean who embraced South Africa’s struggles and became an integral part of its democratic journey.

He said Damasane demonstrated that humanity, integrity and commitment to justice mattered more than nationality or place of birth.

Jonas recalled Damasane’s warning that worsening inequality, corruption and exclusion could one day force more South Africans to seek opportunities beyond their country’s borders.

Calling for renewed national consciousness, Jonas said that South Africa’s prosperity remained inseparable from Africa’s collective economic growth and political stability.

“We cannot judge people or determine their legal status by their origin,” he said.

Jonas said that MTN’s operations across 19 African markets reinforced the importance of stronger regional cooperation, peaceful co-existence and mutual trust among African nations.

His remarks come amid renewed concerns over recurring xenophobic violence targeting African migrants, which has strained South Africa’s diplomatic and economic relations across the continent.

… plus captivating photographs from Ojude Oba 2026

Like the proverbial bitter kola that does not miss every season, a vibrant multitude of Ijebu sons and daughters again converged on Ijebu-Ode, Ogun State recently in resplendent attires and enviable steeze. With passionate fervour, they consolidated their position on the larder of cultural reverence and display of a stupendously rich artistic heritage.

It was at the Ojude Oba Festival 2026, which had First City Monument Bank as the principal sponsor. The event attracted many visitors and gracefully unfolded as a feast of spectacles, colours, grandeur, and an unbreakable bond. For one, the great ‘omo alares’, as Ijebus are traditionally praised, proved that although their much-adored legendary monarch, Oba Sikiru Kayode Adetona, has joined his ancestors, out of sight is not out of mind. They established this by fulfilling all the elevated processes of the festival, which the departed crown had assiduously worked to elevate to the extraordinary height that everyone now cherishes — and tries to copy, if not clone, in some places.

In the wisdom of a Yoruba proverb, ‘Eegun omode nii koko jo ki t’agba to jo’, meaning the young masquerades perform before the elderly ones. But in the Ojude Oba Festival tradition, the reverse is the case, perhaps interestingly buttressing the message in another adage which says ‘Eegun to ba ko jo, iran ni a wo ni’gbeyin’: the masquerade who dances first eventually ends up as a spectator. For from around 10 am when the programmes formally started, it was the oldest Regberegbe age grades that, in venerable glamour, opened the breathtaking but very disciplined parade that is the soul of the festival. The senior men and women had been part of the festival for decades. Yet, their enthusiasm and passion burnt with youthful flames as they straddled the clapping pavilion with graceful aesthetics. Then the younger groups followed in theatrical rounds, thrilling the crowd in a healthy cultural competition. But trust the horse-riding families. When their turn came late afternoon, the warriors in their blood played out as they upped the game with prancing dance steps and friendly gunshots.

At the end of the day, Egbe Bobakeye emerged as the overall winner in the male category, while Egbe Arobayo Obinrin Precious achieved same in the female category. The Balogun Kuku Family won in the horse-riding category.

Meanwhile, the expansive feast was boosted by the presence of celebrities that included Nollywood stars Eniola Badmus, Adeniyi Johnson, Mercy Aigbe, Femi Branch, Idowu Phillips aka Mama Rainbow, and Dayo Amusa. While daughter-of-the-soil waka Queen Salawa Abeni and content creator Samuel Banks were also part of the carnival, the king of steeze himself, Farooq Oreagba, stormed the pavilion with his trademark charismatic horseback entrance. He never disappointed in his commanding regalia and acclaimed candour.

Of course, Oreagba’s participation was symbolic in two respects. Firstly, he was the deserved legend everyone wanted to behold. Secondly, he enjoys cultural ambassadorship with FCMB, the prime sponsor of the Ojude Oba Festival. The bank’s presence at the event was so robust and strategic that its tender, purple, and illuminating yellow corporate insignia was visible on every cardinal point of the festival ground and the city itself. From FCMB’s elegantly built pavilion-within-pavilion stand in the arena, to the colourfully draped team it deployed, to the gifts the bank presented to the royalty when it was its turn to parade, then to the bountiful financial support it gave for the programme, the bank is indeed a blessing to the cultural growth of not only Ijebu-Ode but Nigeria at large.

In his goodwill message at the festival, Group Chief Executive, FCMB Group Plc, Mr Ladi Balogun, underscored the above dynamics. According to him, it was with pride and reflection that he joined the Regent, Acting Awujale, Olorogun (Dr.) Sonny Folorunsho Kuku, the Ijebu traditional institution, Ojude Oba Festival Committee, and all Ijebuland’s people, to celebrate the 2026 edition, describing the festival as “a true symbol of our culture.”

Mr Balogun said, “This year’s festival holds special significance as we honour the legacy of His Royal Majesty, Oba (Dr.) Sikiru Kayode Adetona, CFR, the Awujale and Paramount Ruler of Ijebuland, whose passing in 2025 marked the end of one of the most consequential royal reigns in Nigeria’s history.

“For over six decades, Kabiyesi embodied disciplined leadership, dignity, and progress. He strengthened the traditional institution, elevated Ijebuland’s profile on the national stage, and transformed Ojude Oba into a cultural platform that promotes heritage, creativity, and economic growth.

“Beyond culture, Oba Adetona strongly believed in advancing his people. He championed education, development, unity, and responsible leadership. He understood that preserving tradition must go hand in hand with preparing future generations for opportunity and progress. That vision continues to shape Ijebuland today.”

He also acknowledged and commended the steady leadership of the Regent and Acting Awujale, Olorogun (Dr.) Sonny Folorunsho Kuku, noting his calm stewardship and dedication to continuity which, he said, reflected the enduring strength and stability of the Ijebu traditional institution.

On the bank’s support for Ojude Oba, the GMD stated: “For over 20 years, FCMB has remained a committed partner of the Ojude Oba Festival. Our support amplifies a longstanding belief in the importance of preserving heritage, strengthening communities, and creating opportunities for inclusive and sustainable growth.

“Today, Ojude Oba stands as a cultural celebration and a driver of enterprise and economic activity. Its growing impact supports livelihoods, strengthens communities, and reinforces the values that will shape the future of Ijebuland.”

FCMB’s kind of grand support for the Ojude Oba Festival indeed spells a lesson other blessed personalities — corporate or otherwise — should embrace to guarantee the cultural revival everyone craves. With all hands on deck — the indigenes themselves, the Ogun State Government, and a company like FCMB — it is not surprising that it (the festival) is a resounding success. Arguably the biggest fashion parade on the continent and beyond, the Ojude Oba Festival showcased the best of Yoruba dresses like aso oke, aran, ankara, and adire, with fabrics from other worlds, including exotic damask and lace varieties, flowing in variegated colours and marvelous styles. But beyond fashion, it was also a panorama of songs and poetic vibrations with which the regberegbe celebrated the monarchy while also exploiting some to assert their supremacy over others.

But who would forget the role played by chip-off-the-old-block apala maestro, Musiliu Haruna Ishola, who ruled the band stand from morning till evening? From the cultural to historical, socio-political to the satirical, he kept many people dancing and singing along, with some gleefully blessing him with money. The artiste, whose limelight has shined for about two decades, also endlessly sang the praises of dignitaries like Governor Dapo Abiodun, the chief host whose 66th birthday coincided with the 2026 Ojude Oba festival; former Governor Gbenga Daniel; All Progressives Congress governorship candidate in the state, Olamilekan Adeola Solomon (Yayi); and son of President Bola Tinubu, Seyi Tinubu.

Beyond entertainment, heritage, and reunion values, the festival also provided locals an opportunity to make money as they had more people to buy the various products they had for sale.

A new chapter has begun for Lafarge Africa Plc as the company officially unveiled its new corporate identity and name: HBM Nigeria Plc.

The transition marks a significant milestone in its transformation journey and strategic alignment with its new shareholder structure.

The change to HBM Nigeria Plc reflects the company’s continued evolution as one of Nigeria’s leading building solutions providers, combining strong local roots with enhanced global industrial collaboration.

The company reaffirmed that the name change will not affect its operations, workforce, customers, shareholders, or its unwavering commitment to Nigeria’s economic growth and infrastructure development.

Speaking on the transition, the Group Managing Director/Chief Executive Officer, Lolu Alade-Akinyemi, said the new identity signals a forward-looking phase for the company, driven by operational excellence, innovation, sustainability, and long-term value creation.

Alade-Akinyemi said: “HBM Nigeria Plc represents an exciting new chapter in our journey as a leading building solutions company.

“We remain focused on delivering quality cement, concrete, aggregates, and innovative building solutions that support infrastructure development, housing growth, and industrialisation.

“This transition positions us for the future while reinforcing the values of excellence, sustainability, customer satisfaction, and responsible business practices that have defined our legacy for decades.”

The Chairman of HBM Nigeria Plc, Gbenga Oyebode, in his remark, said the transition is designed to position the company for enduring success while remaining true to the values and principles that have shaped its legacy over the decades.

Expressing the Board’s confidence in the new corporate identity, Oyebode said: “I would like to express my sincere appreciation to our shareholders for their continued trust, to the Board and Management for their leadership, and to our employees whose dedication and commitment continue to drive the company forward.

“We are confident that HBM Nigeria Plc will continue to create sustainable value for shareholders, strengthen stakeholder trust, and deliver on its long-term ambitions”.

The Nigerian naira traded within a relatively steady range against the United States dollar on Tuesday, June 2, 2026, in both the official and parallel foreign exchange markets, as traders continued to watch liquidity levels and demand pressures.

Data from the Central Bank of Nigeria (CBN) showed that the official exchange rate at the Nigerian Foreign Exchange Market (NFEM) settled at about ₦1,373.25 to the dollar, based on the latest available trading figures. The official window has maintained a largely stable trend in recent sessions, supported by improved dollar inflows and policy measures aimed at easing pressure on supply.

Market data also indicated that the naira traded between ₦1,370 and ₦1,372 per dollar within official market transactions during the day.

In the parallel market, the dollar exchanged at around ₦1,395 for buying and ₦1,405 for selling, maintaining a noticeable premium over the official rate. Some traders, however, placed the greenback at about ₦1,385 in certain informal markets across major commercial hubs, including Lagos.

The continued gap between both markets remained relatively moderate compared to earlier months, reflecting ongoing adjustments in foreign exchange liquidity and market conditions.

Analysts note that the naira’s short-term performance will likely depend on foreign exchange inflows, import demand, external reserves, and overall investor sentiment.

At the close of trading, the dollar averaged ₦1,373.25 at the official window, while it sold between ₦1,395 and ₦1,405 in the parallel market.

The MTN Group President and Chief Executive Officer, Ralph Mupita, on Wednesday said the company makes less than 20% of its revenue from South Africa.

This is as he cautioned that rising Afrophobic sentiments threatened youth empowerment, economic integration and Africa’s development aspirations.

At a time what many see as xenophobic disruptions are rocking the country, Mupita gave this caution in a statement ahead of the Kgalema Motlanthe Foundation dialogues, amid social media campaigns targeting multinational firms following anti-immigrant protests in South Africa.

He said Africa’s youthful population remained the continent’s greatest asset and should be channelled toward economic opportunities rather than divisive nationalism and retaliatory actions.

“MTN also believes that embracing the benefits of the digital economy is vital to turning the youth bulge into a youth dividend,” Mupita said.

According to him, Africa’s demographic profile presents enormous opportunities, if governments and businesses invest in skills, innovation and digital inclusion for young people.

The MTN boss said that attacks on pan-African businesses could weaken industries providing jobs, investments and critical infrastructure supporting millions of young Africans.

He said companies operating across African borders played strategic roles in advancing economic cooperation and supporting the African Continental Free Trade Area objectives.

Also, Mupita said MTN’s operations reflected its pan-African identity and extensive economic footprints across multiple African markets.

“MTN makes less than 20 per cent in South Africa and makes 80 per cent of our earnings elsewhere,” he said.

“We have not seen impacts specifically to our business, but we are very sensitive in markets such as Nigeria and Ghana,” Mupita said.

He said that the company remained watchful amid emerging tensions in some countries.

The MTN chief noted that Africa’s future depended on stronger cooperation, economic integration and respect for established legal and governance institutions.

“The future of Africa depends on greater social solidarity, increasing economic integration and the observance of the rule of law,” he said.

Mupita said dialogue, inclusion and lawful engagement offered more sustainable responses to migration-related tensions than boycotts, retaliation or corporate targeting.

He maintained that protecting migrants, investments and cross-border commerce remained essential to achieving shared prosperity and continental development.

Analysts say retaliatory actions against multinational operators could disrupt telecommunications, fintech and e-commerce ecosystems supporting millions of livelihoods across Africa.

They noted that stronger social cohesion and economic integration would help countries maximise opportunities created by AfCFTA and the continent’s digital economy. (

A real estate company, COPEN Group, on Tuesday, launched its “Tenant to Landlord” homeownership scheme aimed at expanding access to affordable housing for low and middle income earners in Nigeria.

The event, tagged “A Home for Every Dream; A House for Every Pocket” held in Enugu, attracted stakeholders from the housing, banking and mortgage sectors alongside prospective homeowners and real estate investors.

The Group Managing Director of COPEN, Mr Ugochukwu Chime traced the history of the company to 1995 where it had delivered numerous housing projects across the country.

“Today, God has equipped us as a leader in real estate development in the country.

“We are humbled to be the first company recognized by the Federal Mortgage Bank of Nigeria (FMBN) and given an award for delivering Goshen/Jubilee Estates in eight months as against the 24 months stipulated in the agreement with them.

“Our ability to effectively use funds and exceed expectations in quality and customer satisfaction is critical to us.

He said the company had built collaborative relationships with stakeholders across the real estate value chain, including the FMBN, MOFI Real Estate Investment Fund, AG Mortgage Bank, and other financial institutions that worked with it to help more people access mortgages.

Chime said that through this, COPEN had helped create thousands of multi-millionaires through wealth creation, capital appreciation, and asset growth for everyday families, especially through mortgages.

“Today, we are unveiling a further expression of that vision of Housing for All.

“The expression “A Home for Every Dream, A House for Every Pocket” is our bold statement that we are your go-to real estate company, regardless of the type of home you seek and regardless of the size of your pocket.

The General Manager of COPEN Group and keynote speaker, Dr Awokore Ogbimi, said the company designed the scheme to change the housing narrative in Nigeria.

Ogbimi said the initiative provided flexible payment structures and low-interest mortgage opportunities for intending homeowners.

He said the company partnered with the Federal Mortgage Bank, commercial banks and other institutions to improve housing accessibility.

According to him, the rent-to-own model allows Nigerians to gradually convert rent payments into home ownership.

He said the scheme offered mortgage opportunities with interest rates as low as six per cent annually.

Ogbimi said the company introduced structured customer profiling to help clients identify suitable housing opportunities based on their income and lifestyle.

He said the Urban Home Front Initiative would also help clients identify locations with better healthcare, education, transportation and security systems.

Ogbimi said the company focused on helping middle-income earners secure decent accommodation through sustainable payment plans.

Stakeholders at the event commended COPEN Group for promoting practical solutions to Nigeria’s growing housing challenges.

They also called for increased government support, lower housing taxes and wider access to mortgage financing.

The participants said that strategic partnerships would improve access to housing finance and encourage long-term investments in the real estate sector.

According to the representative of the FMBN, COPEN Group is one of the bank’s most trusted and reliable housing partners.

The stakeholders included Rev Fr Ejike Mbaka of the Adoration Ministries, George Eze of Bethel Microfinance, Samson Aneke of the United Bank for Africa among others.

The event featured awards to housing estates for environmental sustainability, child-friendly infrastructure and community development efforts.