US President Donald Trump recorded around $1.2 billion in income from his cryptocurrency activities in 2025, according to documents released on Tuesday by the US Office of Government Ethics.

A 1978 law requires the president and vice president of the United States to declare their income as well as their assets.

According to the documents, which are more than 900 pages long, Trump received nearly $`550 million from his ties to the startup World Liberty Financial.

The Trump family lent its support and its name to this cryptocurrency platform, launched in September 2024.

World Liberty Financial issued its own cryptocurrency, WLFI, whose initial sale brought in `$550 million.

Trump and his three sons also obtained, via an intermediary company, DT Marks Defi, an additional 22.5 billion WLFI, currently worth around $`1.3 billion.

In April 2025, WLF also marketed its stablecoin — a digital currency whose value is pegged to a traditional currency, in this case the dollar.

Trump’s income disclosure also mentions $635 million in royalties received under a licensing agreement related to the $TRUMP cryptocurrency, launched just hours before his inauguration in January 2025.

The president’s activities in the cryptocurrency sector are the main reason for the near tripling of his personal fortune, which rose from `$2.3 billion to $6.5 billion between 2024 and 2026, according to Forbes.

The former real estate developer is regularly accused of conflicts of interest, in particular for having invested in the crypto-currency industry while as president taking several measures to deregulate the sector, causing asset prices to soar.

Beyond the income derived from WLF and its cryptocurrency, Trump has also earned several million dollars from shares in various publicly listed companies active in cryptocurrencies, such as the Coinbase exchange platform.

The president’s assets are held in a trust managed by his son, Donald Trump Jr. But its bylaws stipulate that the entity can be dissolved at any time, which means the billionaire could regain control of it as soon as his second term ends.

AFP

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The World Bank will phase out its lending to China by 2031, according to the organisation’s new country partnership framework, a source familiar with the matter told AFP on Tuesday.

The source confirmed an earlier report of the development by the Financial Times.

“China has made significant development advances over the past several decades — progress that the World Bank and others have supported,” said a World Bank official familiar with the matter, speaking on condition of anonymity.

“Now we are reaching a new phase of our relationship, reflecting that reality.”

World Bank lending to China — the world’s second-largest economy — has steadily declined in recent years as the Asian giant saw explosive growth and a reduction in poverty indicators.

In his first term in office, US President Donald Trump demanded that the World Bank stop lending to China entirely, as he adopted a more aggressive approach to Washington’s chief economic rival.

Trump has maintained that tone in his second term, but has not specifically repeated that demand.

World Bank lending to China peaked at 750 million in 2025.

China also contributes funds to the World Bank’s International Development Association (IDA) pool for the world’s least developed countries, with its $1.5 billion under the latest replenishment round making Beijing the fifth-largest donor.

“The World Bank’s role is shifting from lender to knowledge partner, in line with China’s development trajectory,” said the World Bank official.

On June 16, the World Bank announced a similar plan for Poland, planning to reduce loans to zero by 2031 while maintaining technical assistance.

AFP

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The average fare paid by commuters for bus journeys within Nigerian cities rose to N1,431.25 per trip in May 2026, highlighting continued pressure on transportation costs despite signs of easing inflation in other sectors of the economy.

This was contained in the National Bureau of Statistics’ latest Transport Fare Watch report, released on Tuesday.

According to the report, the average intra-city bus fare increased 2.43 per cent from N1,397.27 recorded in April 2026. On a year-on-year basis, the fare rose 38.63 per cent from N1,032.46 paid in May 2025.

The report also showed that transport costs increased across other major categories, including intercity bus travel, domestic air transport, motorcycle (okada) rides, and water transportation during the review period.

The NBS noted that transport fares continued to rise across virtually all categories in May, with motorcycle transportation recording the highest annual increase.

According to the data, the average fare for intercity bus travel increased to N9,699.55 in May, up 0.96 per cent from N9,607.41 in April. Compared with May 2025, the fare rose 21.89 per cent from N7,957.41.

Similarly, the average airfare for specified domestic routes stood at N157,552.19, reflecting a 0.12 per cent month-on-month increase and a 20.86 per cent rise from N130,361.85 recorded in May 2025.

Motorcycle transport recorded the sharpest increase among all transport categories, with the average fare rising to N1,072.51. This represented a 3.56 per cent increase from April and a 52.45 per cent year-on-year increase.

Water transport fares also increased to N2,276.48 during the month, up by 2.41 per cent from April and 30.88 per cent higher than the N1,739.32 recorded in May last year.

The bureau said the figures showed that transport costs remained elevated nationwide despite relatively modest monthly increases.

State-by-state analysis showed wide disparities in transport fares across the country.

Ondo State recorded the highest average intercity bus fare at N11,080, followed by Abia State at N11,066.13, while Kwara and Edo states posted the lowest average fares.

For intra-city bus transportation, Zamfara State recorded the highest average fare at N1,878.80, followed by Taraba State at N1,771.96. Abia and Adamawa states recorded the lowest city bus fares.

The report further showed that Kano State posted the highest average domestic airfare at N184,139.29, ahead of Lagos State at N176,971.65, while Gombe and Nasarawa states recorded the lowest airfares.

Kaduna State recorded the highest average fare for motorcycle transportation at N1,720.76, while Rivers State posted the highest average water transport fare at N6,893.55.

At the regional level, the South-West recorded the highest average fares for city bus services, intercity buses, and motorcycle transportation, while the South-South recorded the highest average water transport fares.

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