News
Bill Gates No Longer Second Richest Man In The World
Bill Gates has been unseated as the second richest man in the world, losing the position to Bernard Arnault, the chairman and CEO of LVMH.
The News Agency of Nigeria (NAN) reports that in the latest ranking by Bloomberg’s Billionaires Index, Arnault is in second place with Amazon’s Jeff Bezos still retaining first place.
Arnault and his family are the majority owners of Christian Dior and LVMH, parent of such brands as Louis Vuitton, Celine, Fendi, Moët, Hennessy, Dom Pérignon, and others.
As LVMH’s share price has soared in 2019, so has Arnault’s worth. It now stands at about $107.6 billion, more than $200 million ahead of Gates, Bloomberg estimates.
The report also states that Bill Gates would have been ranked the richest person, even ahead of Bezos if not for his philanthropic giveaways which gave Arnault more room to climb.
The French entrepreneur entered the luxury industry in 1984, when he bought Boussac, a textile empire in the midst of bankruptcy that owned Dior.
The famed label by then had deteriorated by licensing its name out to companies producing sub-par products.
Arnault set about reviving it, turning it into a vertically integrated company that did its own production, distribution, and marketing.
He went on to buy up other brands, such as Céline, and in 1988 engineered the deal that made him the majority shareholder of LVMH.
Forbes currently ranks Dior as the world’s largest fashion brand based on sales, profits, assets, and market value.
Meanwhile, LVMH, on the whole, keeps attracting customers around the world, with China being the latest highly profitable frontier.
Politics
Rivers High Court disowns ‘judgment’ against emergency rule

The Rivers State Judiciary has disassociated Justice Boma Diepiri and any other judge of the State High Court from any judgment involving the suspended Governor Siminalayi Fubara, the Sole Administrator, retired Vice Admiral Ibok-Ete Ibas, and others.
In a statement issued by the Chief Registrar of the High Court of Rivers State, David Ihua Maduenyi, the judiciary described as false an online news report alleging that suspended Governor Siminalayi Fubara secured a court victory over President Bola Tinubu and the Minister of the Federal Capital Territory, Nyesom Wike at the Federal High Court.
The report also said the court has ordered the sole administrator to vacate the Government House.
The statement noted that the report falsely claimed Justice Diepriye presided over the case and ruled that the appointment of a sole administrator to oversee the affairs of a state, following the removal of a democratically elected governor, was illegal, null, and void.
Ihua-Maduenyi clarified that Justice Diepiri is not a judge of the Federal High Court but of the Rivers State High Court and is currently on Easter vacation, which commenced on Monday, April 14, 2025.
He emphasized that the mention of Justice Diepiri’s name in the report was both false and misleading, reflecting what he called the “crass ignorance” of the reporter, since the Federal High Court and the State High Court are distinct institutions.
The Chief Registrar further stated that no judge of the Rivers State High Court had issued any orders relating to the emergency rule in the state.
He expressed concern over the growing trend of bloggers and online reporters sacrificing professionalism for traffic and financial gain.
Ihua-Maduenyi urged members of the public to seek proper clarification from the court or its officials before publishing or sharing court-related information.
Politics
We’ll ride any vehicle to unseat Tinubu in 2027 – Atiku

Former Vice President Atiku Abubakar has reaffirmed that the coalition of opposition forces he is championing would adopt any platform that ensures good governance in its bid to unseat President Bola Ahmed Tinubu in 2027.
Atiku made the declaration on Tuesday during a meeting with a delegation of National Opinion Leaders.
In a video of the meeting which was shared on his X handle (formerly Twitter) on Wednesday, he assured that the “coalition train has left the station and would have multiple stops to bring on board Nigerians of all shades.”
His comment came just two days after the PDP Governors’ Forum, at the end of their meeting in Ibadan, distanced themselves from any planned coalition or merger ahead of the 2027 general elections.
Atiku had in March announced the formation of a coalition of opposition parties to challenge President Tinubu’s re-election bid.
At the announcement, he was flanked by Dr Yunusa Tanko, who represented Labour Party’s 2023 presidential candidate Peter Obi, and former Kaduna State governor Nasir El-Rufai, who recently left the All Progressives Congress (APC) for the Social Democratic Party (SDP).
Following Atiku’s recent visit to former President Muhammadu Buhari in Kaduna alongside other coalition members, expectations were high that the PDP governors’ meeting in Ibadan would clarify the party’s stance on the alliance.
However, after the meeting, which began on Sunday and ended Monday, and was attended by acting PDP National Chairman Ambassador Umar Damagum and other party leaders, the governors disassociated themselves from any coalition or merger discussions.
They nonetheless expressed readiness to welcome any individual, group or party willing to join the PDP to “wrest power and enthrone good leadership in 2027.”
While addressing the youth-dominated delegation of National Opinion Leaders, Atiku urged them to remain focused and not be swayed by short-term inducements.
“Don’t be disrupted by people giving you pennies or kobos here and there, and nairas here and there, and then abandon your future, and the future of your children,” he said.
“Now, because of that, that’s why a number of us leaders from the parties I have mentioned—APC, PDP, Labour, and others—have come together to say we are going to have what I call in Hausa Sabuwar tafiya, which in English means a new path, a new pathway to a new Nigeria.”
“And we have been meeting, and by the grace of God, very soon we will announce, and we hope and we appeal to you all to be part of this movement.”
The former vice president said the primary objective of the coalition was to ensure good governance.
“Whatever vehicle that will give us good governance in the future of our children and grandchildren, that is the vehicle we are going to ride on,” he declared.
He concluded by urging the delegation to start planning and mobilising support.
“Get to planning and working together and getting as many Nigerians as possible to get converted to this new pathway,” he said.
Politics
Court Overturns Lagos Assembly Speaker’s Removal

The Lagos State High Court has invalidated the recent leadership change in the Lagos House of Assembly, declaring the removal of Mudashiru Obasa as Speaker unlawful.
In a landmark ruling delivered in Ikeja on Wednesday, Justice Yetunde Pinheiro ruled that the January 13, 2025 proceedings that led to Obasa’s removal did not follow constitutional requirements.
The court specifically found that the actions of the majority lawmakers, including Deputy Speaker Mojisola Meranda who had assumed the Speaker position, were conducted without proper legal foundation.
Justice Pinheiro’s judgment not only reinstated Obasa to his position as Speaker but also nullified all resolutions and decisions that emerged from the controversial January 13 sitting.
Additionally, the court awarded damages of ₦500,000 to Obasa.
The ruling effectively restores the previous leadership structure of the Lagos State House of Assembly, ending a period of constitutional uncertainty in the state’s legislative body.
Analysts say that the judgment has significant implications for the legislative activities conducted during the period of contested leadership.
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