Kiraa Football Academy Begins Construction of World-Class Stadium in Ososa Ijebu

For lovers of good football across the globe, especially in Nigeria, there is exciting news from Ososa Ijebu in Ogun State as one of the country’s fast-rising football academies, Kiraa Football Academy, has embarked on the construction of a world-class stadium that promises to change the face of grassroots football development.

The ambitious project, spearheaded by the energetic businessman and visionary sports enthusiast, Oluwasegun Franklin, officially kicked off in August 2025 along the Ijebu-Ode/Benin Road in Ososa. Sitting on seven acres of land, the stadium is set to become one of the most iconic sporting facilities in the region, with a capacity to accommodate thousands of passionate football fans.

But this project goes beyond just football matches. The facility will serve as a hub for diverse sporting activities across Nigeria, positioning Ososa Ijebu as a new sports destination. More importantly, it will house the Kiraa Football Academy players, from the under-10 category up to senior level, giving young talents a permanent home where they can nurture their dreams in a professional environment.

According to Franklin, the vision is to create a platform where young Nigerian talents can thrive and compete on both local and international levels, while also contributing to community development and sports tourism. The stadium, when completed within the next three years, is expected to attract football lovers, scouts, and investors, further boosting economic activities in the host community.

“This project is not just about football; it is about building a future for our youths, providing opportunities, and putting Ososa Ijebu on the global sports map,” Franklin emphasized.

With its scale and ambition, the Kiraa Football Academy stadium project is already attracting attention from sports stakeholders, philanthropists, and football lovers at home and abroad. It is a golden opportunity for meaningful Nigerians and corporate bodies to associate their names with a legacy that will inspire generations and transform grassroots sports in the country.

As the bulldozers continue to roar on-site, one thing is clear: the dream of raising Nigeria’s next football superstars is steadily taking shape in Ososa Ijebu.

It will also interest you to know that this stadium is situated in Ososa, a historic town renowned as the birthplace of Nigeria’s theater industry, pioneered by the late doyen of theater, Hubert Ogunde. The community is equally notable as the production hub of Bigi Beverages. With the construction of Kiraa Football Academy’s stadium, Ososa is set to emerge as a force to reckon with in Ogun State.

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

Lagos, Nigeria — 29 August 2025 — Guaranty Trust Holding Company Plc (NGX: GTCO; LSE: GTCO), today announced that it has increased its investment in its wholly owned Banking subsidiary, Guaranty Trust Bank Limited (“GTBank”) to ₦504 billion through a rights issue subscription for 6,994,050,290 ordinary shares of fifty kobo each made by GTBank for a total consideration of ₦365,850,403,572.67, thus increasing GTBank’s paid-up share capital from ₦138,186,703,485.78 to ₦504,037,107,058.45.

This Capital Injection ensures GTBank’s compliance with the new minimum capital requirement for commercial banks with international authorisation stipulated by the CBN.

The Capital Injection was funded by the two-phased equity capital raising programme recently undertaken and concluded by GTCO Plc with an international fully marketed offering on the London Stock Exchange (LSE) that secured $105 million from high-quality, long-term institutional investors in exchange for 2.29 billion new ordinary shares, making GTCO Plc the first financial services institution in West Africa to dual list on both the NGX and LSE. Launched in July 2024, GTCO’s equity capital programme began with a public offering to Nigerians that raised ₦209.41 billion from 130,617 valid applications for 4.7 billion ordinary shares, fully allotted and evenly split between retail and institutional investors.

Commenting on the recapitalisation of Guaranty Trust Bank Ltd, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, said: “The successful recapitalisation of our flagship banking subsidiary, Guaranty Trust Bank Limited, marks a pivotal step in strengthening the foundation of our Group. With significant new capital secured and the CBN’s recapitalisation directive for Guaranty Trust Bank now fulfilled, we are focused on deepening innovation and service excellence, delivering improved performance, and expanding our footprint across high-growth markets, while upholding the industry-leading standards that define the GTCO brand.”

The additional equity capital will be deployed by GTBank primarily for branch network expansion and asset growth (loans, advances, and investment securities portfolio), fortification of its information technology infrastructure and to leverage emerging opportunities in Nigeria and the operating environments where it maintains banking presence.

Following the Capital Injection, the Company continues to hold 100% of the entire issued and paid-up share capital of the Bank. None of the Directors of the Company has any interest, direct or indirect, in the Bank.

Passport Drama: Nigerians Kick as FG Defends Hike to ₦100,000, ₦200,000

By Femi Oyewale

The Federal Government’s decision to raise the cost of Nigerian international passports has sparked outrage across the country, with many citizens describing the move as insensitive at a time of economic hardship.

Beginning September 1, the price of the standard 32-page passport will rise to ₦100,000, while the 64-page booklet with a ten-year validity will now cost ₦200,000. This represents a doubling of fees within just over a year, intensifying debates about affordability, fairness, and government priorities.

Government’s Defence

Interior Minister Olubunmi Tunji-Ojo defended the hike, insisting it was necessary to modernize the passport system and stamp out corruption in the issuance process. He explained that a new centralized personalization centre will ensure passports are ready within 24 hours, curbing delays and eliminating opportunities for middlemen to exploit applicants.

According to him, the review is not merely about revenue but about restoring dignity to Nigeria’s travel documents, which have suffered from abuse and credibility issues. Officials argue that by setting a higher, uniform fee and tightening the system, the days of backdoor payments and extortion—which often saw desperate applicants spend as much as ₦200,000 unofficially—would be over.

Public Outcry

Yet the explanation has done little to calm tempers. From academics to civil society groups, voices of dissent are rising. Many argue that the sharp increase effectively makes passports a luxury reserved for the wealthy. For young graduates, teachers, and mid-level professionals already struggling with stagnant incomes and soaring inflation, the new fee is simply out of reach.

Some see the move as elitist, deepening inequality by dividing citizens into those who can afford international mobility and those who cannot. Others warn that the hike reflects a troubling pattern of government relying on citizens for revenue generation without providing proportional relief or opportunities.

A Divided Debate

While critics condemn the policy as harsh, supporters point out that the cost of producing and securing passports has increased, and argue that genuine travellers will pay regardless of the price. To them, the promise of speed, transparency, and an end to extortion justifies the hike.

Still, the broader question remains: should access to a passport—a document central to mobility, education, and opportunity—be determined by financial muscle alone?

As Nigerians adjust to the reality of ₦100,000 and ₦200,000 passports, the clash between government justification and public frustration underscores a larger national tension: the struggle between reforms aimed at efficiency and the harsh economic realities faced by ordinary people.