US President Donald Trump (a convicted felon) declares Venezuelan President Maduro wanted for drug trafficking with $25m bounty

CC™ News

By Staff

The United States government has declared Venezuela’s President Nicolás Maduro and two of his close allies, Diosdado Cabello Rondón and Vladimir Padrino López, wanted for drug trafficking.

In a statement released on Tuesday, the U.S. Department of State announced a combined reward of $65 million for information leading to the arrest and conviction of the three Venezuelan officials.

A reward of $25 million was placed on President Maduro, while Cabello and Padrino carry rewards of $25 million and $15 million, respectively.

The U.S. authorities accused the trio of being leaders of the Cartel de los Soles, which was recently designated a terrorist organisation by the U.S. Treasury Department.

According to the Department of State, the cartel is responsible for trafficking drugs into the United States.

“@USTreasury just sanctioned Cartel de los Soles as a terrorist group. Run by the corrupt and contemptible Nicolás Maduro, it is responsible for trafficking drugs into the U.S.,” said the department.

It added, “Help us take down Maduro and his cronies Diosdado Cabello Rondón & Vladimir Padrino López!”

A wanted poster issued by the U.S. describes President Maduro as a “designated global terrorist cartel de los soles leader”, and outlines charges including narco-terrorism conspiracy, cocaine importation conspiracy, and conspiracy to use and carry machine guns and destructive devices in furtherance of a drug crime.

The announcement comes just one day after Maduro marked the one-year anniversary of his re-election—a vote the U.S. and its allies have described as fraudulent.

The United States has long refused to recognise Maduro’s government and has imposed multiple sanctions targeting Venezuela’s political and economic leadership.

Frailties of a compromised leader as Trump tells Putin, “You have 10 or 12 days to end war with Ukraine”

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By Staff

US President, Donald Trump has issued a new ultimatum to Russian President Vladimir Putin, giving him 10 to 12 days to make progress toward ending the war in Ukraine.

Speaking during meetings in Scotland on Monday, Trump revealed he was abandoning a previous 50-day timeline he had set, citing mounting frustration with Russia’s inaction.

“I was going to give them 50 days,” Trump said. “But I’m not happy with the pace. Now I’m telling them they have 10 to 12 days to move forward.”

The president did not detail the consequences if Russia fails to meet the new deadline but emphasized his growing impatience.

“Enough is enough,” he added. “Putin knows where I stand”, Trump said.

Trump’s comments come as diplomatic pressure continues to build on the Kremlin, with Western allies demanding a resolution to the prolonged conflict in Ukraine.

“I was going to give them 50 days,” Trump said. “But I’m not happy with the pace. Now I’m telling them they have 10 to 12 days to move forward.”

The president did not detail the consequences if Russia fails to meet the new deadline but emphasized his growing impatience.

“Enough is enough,” he added. “Putin knows where I stand”, Trump said.

Trump’s comments come as diplomatic pressure continues to build on the Kremlin, with Western allies demanding a resolution to the prolonged conflict in Ukraine.

First global streaming platform dedicated to Nollywood ‘KAVA’ debuts in Nigeria

CC™ News

By Ifeoma Okeke-Korieocha

In a landmark moment for African entertainment, the world’s first dedicated Nollywood streaming platform was unveiled on Thursday, ushering in a bold era for Nigeria’s film industry and for African creators everywhere.

Nollywood is the second-largest film industry in the world, yet its stories have long been underrepresented on global platforms. As demand for authentic African content continues to rise, especially among diaspora audiences, KAVA was born from a shared mission: to amplify African storytelling and create a permanent, global home for content that reflects the culture, identity, and lived experiences of its people. By combining cutting-edge technology with a powerful purpose, it offers more than entertainment—it offers recognition, connection, and a platform where African stories are seen, celebrated, and preserved.

Powered by two industry titans – Inkblot Studios, one of Nigeria’s leading studios and the first to secure landmark streaming deals with Amazon Prime and Netflix in Africa, and Filmhouse Group, home to West Africa’s largest cinema chain (Filmhouse Cinemas), its leading distribution arm (FilmOne Entertainment), and production powerhouse (FilmOne Studios) – Kava is built on a foundation of deep expertise in cinema exhibition, content production, and global distribution. Together, these forces are united by a shared mission and a united vision for Nollywood’s future.

Launching with over 30 premium Nollywood titles, in partnership with creators across Nigeria and the diaspora, including exclusive post-theatrical releases, and a handpicked selection of Nigeria’s most iconic and compelling stories. New content will be added weekly, offering viewers a consistent stream of fresh, cinema-quality entertainment.

Viewers will find films across every genre: drama, romance, comedy, epic, thriller and more, reflecting the rich range of African storytelling and spotlighting creators across Nigeria and the diaspora.

Chinaza Onuzo, CEO of KAVA said: “KAVA is where cutting-edge technology meets cultural storytelling. We’ve built a world-class digital platform tailored to showcase the richness of Nollywood. For creators, it’s a new economy. One that truly champions and reflects who we are – as Africans, as artists, and as a people with stories that matter.”

Kene Okwuosa, CEO of KAVA said: “This is more than a platform – it’s an ecosystem for African content, focusing on underserved global demand. KAVA exists to serve audiences and also represents both a cultural leap and a commercial opportunity. We’re not just streaming films – we’re building the digital infrastructure for the future of African cinema. We want our audiences to feel the joy of seeing their language, their humour, their struggles and triumphs on screen. To feel seen, and like they’re part of something bigger”

KAVA will be available for subscription globally late August 2025. The service will be accessible on mobiles, tablets, and Smart TVs. Viewers can sign up for additional information and access to the platform at launch in August. Early sign ups will benefit from launch day discounts.

KAVA is a global streaming platform dedicated to celebrating Nollywood and African storytelling. With a curated selection of films, original content, and interactive features, KAVA connects African cinema to global audiences while empowering creators through transparency, access, and fair revenue models.

BUSINESSDAY

Naira bonds beat EM peers as Tinubu reforms get noticed

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President Bola Tinubu‘s reforms are sparking the biggest bond rally in emerging markets as the West African nation’s two-digit carry yields are backed by increasing government revenue, slowing inflation and a stable currency.

Naira-denominated bonds of Africa’s largest crude producer have extended their 2025 rally with an 8.6% total return in July, the best performance among the 23 countries in the Bloomberg EM Local Currency Government Universal Index both for the month and the year.

Since coming to power in May 2023, Tinubu has eliminated fuel subsidies weighing on the government’s budget. He followed it up with a tax overhaul, while the central bank has allowed the naira to trade more freely. The measures have helped to reduce the fiscal deficit, boost reserves and keep the current account in surplus. And investors are just beginning to back the reforms, after staying on the sidelines for most of 2024.

“The optics have been constructive this year for Nigeria,” said Matthew Reed, head of trading at the Bank of Africa UK Plc in London. “The currency has stabilized after a volatile 2024 and this removes a notable hurdle for many international accounts looking to invest in the local bond market.”

Government revenues increased 43% in the first half compared to the prior period, and recent tax changes are seen boosting revenue collections further. A rebasing that increased Nigeria’s gross domestic product by 30% has improved debt ratios and opened the room for better ratings and fresh borrowing

The lower inflation, expectation of rate cuts and a more stable naira have made Nigeria a more attractive investment case, said Joseph Cuthbertson, a sovereign analyst at PineBridge Investments in London. Nigeria is on a “positive macroeconomic trajectory following its reform efforts,” leaving local debt attractive, he said.

The July rally in naira bonds extends year-to-date gains to 26%, compared with an emerging-market average of 7.1%. That partially recoups a 40% loss suffered by investors last year.

A credit upgrade this year by Moody’s has also helped, said Patience Oniha, the head of Nigeria’s debt management office. The ratings company raised Nigeria from Caa1 to B3 citing “significant improvements in the country’s external balance and fiscal position.” That placed it on the cusp of “re-entering the broader pool of emerging markets considered investable by institutional debt investors,” Moody’s said.

Despite recent gains, Nigeria’s local bonds are “still attractive,” said Aurelie Martin, a fixed-income analyst at Ninety One. The naira has found some stability “reaping the benefits of the tough monetary and fiscal reforms of the past couple of years,” while slowing inflation will enable the central bank to cut rates supporting naira notes further.

BLOOMBERG

Dangote Cement Announces Emmanuel Ikazoboh As New Board Chairperson

CC™ BusinessNews

By Staff

Africa’s industrial titan and founder of Dangote Cement Plc, Aliko Dangote, has stepped down as Chairman and Director of the company’s Board, effective July 25, 2025. The decision marks a strategic shift in focus as Dangote aims to devote more attention to the operations of his Refinery, Petrochemicals, Fertilizer, and Government Relations, aligning with the group’s five-year business trajectory.

In a statement issued by the Group Chief, Branding & Communications Officer, Mr. Anthony Chiejina, the company announced the appointment of Mr. Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman of the Board.

In the same development, Hajiya Mariya Aliko Dangote was appointed to the Board of Directors, while Prof. Dorothy Ufot officially retired.

The company described Dangote’s departure from the board as the end of an era, celebrating his transformational role in revolutionizing Africa’s cement industry. Under his leadership, Dangote Cement grew to become Africa’s largest cement producer and the continent’s leading exporter of cement and clinker.

“Aliko Dangote’s journey began with a bold dream: to make Nigeria and Africa self-sufficient in cement production. Through strategic investments, cutting-edge technology, and a commitment to local content, he not only met that goal but exceeded it,” the statement read.

Today, Dangote Cement boasts an installed capacity of 52.0 million tonnes per annum (Mta) across Africa, with Nigeria accounting for 35.25 Mta. Ongoing greenfield projects in Côte d’Ivoire (3.0 Mta) and Itori, Nigeria (6.0 Mta), expected to be completed this year, will raise total capacity to 61.0 Mta.

The company has also achieved record-breaking financial results. According to unaudited financials for the first half of 2025, group revenue surged by 17.7 percent to N2.071 trillion from N1.76 trillion in the same period of 2024. Group EBITDA grew by 41.8 percent to N944.9 billion, while EBITDA from Nigerian operations rose by a remarkable 82.4 percent to N845.4 billion. Profit before tax increased by 149 percent to N730 billion, and profit after tax soared by 174.1 percent to N520.5 billion. During the period, Nigerian export volumes rose by 18.2 percent, including 18 clinker shipments to Ghana and Cameroon.

In his acceptance speech, Mr. Emmanuel Ikazoboh expressed deep appreciation for the trust placed in him. “I am truly honored to accept the role of Chairman of Dangote Cement Plc. This company stands as a beacon of African enterprise, demonstrating resilience, innovation, and excellence.”

Ikazoboh pledged to lead with integrity and vision, emphasizing sustainable growth, operational efficiency, and innovation. He outlined key priorities for the company, including driving cost-reduction strategies to combat inflation, transitioning to alternative energy sources, and strengthening staff development programs.

“My vision for Dangote Cement is anchored on operational excellence, strategic expansion, sustainability, innovation, and community engagement,” Ikazoboh said.

He also praised Aliko Dangote’s legacy, noting that his achievements have restored global confidence in African industrial capacity. In 2024 alone, Dangote Group subsidiaries reportedly paid over N402 billion in taxes, making it Nigeria’s highest corporate taxpayer.

With this leadership transition, Dangote Cement Plc is poised to embark on a new era, reinforcing its commitment to industrial growth, sustainability, and continental impact.

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