Feyijimi Emmanuel

JPMorgan Chase has secured preliminary regulatory approval to establish a merchant bank in Nigeria and appointed former Central Bank of Nigeria (CBN) acting governor Sarah Omotunde Alade as an independent non-executive director of the proposed institution. The CBN announced the approval-in-principle on Friday, October 23, 2026, clearing the way for the American financial services giant to advance plans for JPMorgan Merchant Bank Nigeria Limited.

Brazilian President Luiz Inácio Lula da Silva has won re-election for an unprecedented fourth non-consecutive term, defeating right-wing challenger Flávio Bolsonaro, who has refused to concede and vowed to seek the annulment of the presidential runoff. Lula secured 51.8 per cent of the vote against Bolsonaro’s 48.2 per cent, winning by approximately 4.4 million votes, according to the country’s electoral court. The runoff election was held on Sunday, October 25, 2026.

A Magistrate Court in Ogun State has sentenced Samson Okonkwo to imprisonment with hard labour, without an option of fine, after convicting him of offences involving counterfeit electrical cables bearing the Coleman brand. The judgment was delivered on September 24, 2026, by Magistrate O. P. Mobee at the Magistrate Court in the Ojodu Abiodun Magisterial District, following a trial over the possession and sale of cables allegedly bearing forged marks of Coleman Technical Industries Limited.