Nigeria News
Police vow to arrest hoodlums who burnt vigilante to death in Anambra
The Anambra State Police Command has vowed to hunt down hoodlums who burnt down the office of the Anambra State Vigilante Group in Amichi while an operative was in it. The spokesperson of the command, DSP Tochukwu Ikenga, stated this in a press release made available to journalists in Awka. Ikenga, while quoting the Commissioner […]
Bauchi: Residents mourn as two kids die in fire outbreak
The Madina Quarters community in Bauchi was thrown into mourning on Sunday as two children, Zainab Bashir Muhammad (Hibba) and Ummu Salma Bashir, aged 7 and 5, lost their lives in a house fire. The incident was said to have occurred near Barden Gabas Primary School, close to Tirwun Quarters, within the Bauchi metropolis. the […]
Alleged budget padding: ACF condemns Ningi’s suspension, says North’s interest at stake
The Arewa Consultative Forum, ACF, has condemned the suspension of the immediate past Chairman of Northern Senators Forum, Sen Abdul Ninigi, by the Senate, saying the interests of the North are at stake. A statement by the National Publicity Secretary of ACF, Prof. Tukur Muhammad-Baba, explained that the Senate ought to have investigated the issues […]
Guber polls: Ondo APC leaders set up committee to evaluate, screen aspirants
In a bid to ensure the emergence of a suitable candidate for the forthcoming November governorship election in Ondo State, some leaders of the All Progressives Congress, APC, under the aegis of Ondo APC Aborigines, have set up a nine-man committee to evaluate and screen all governorship aspirants of the party. The committee, led by […]
Cult killing: ABSU VC charges security team to flush out culprits
Vice Chancellor of Abia State University, Uturu, Professor Maxwell Ogbulu has charged the joint security within the school to flush out every form of cult groups from their hideouts. He has also charged the security team to arrest and bring the suspected killers of a student of the institution to book. The Vice-Chancellor stated this […]
NIN: NIMC orders investigation into data breach allegation
The National Identity Management Commission, NIMC, has ordered for a comprehensive investigation into an alleged citizens’ data breach by XpressVerify. The Director General of NIMC, Abisoye Coker-Odusote disclosed this in a statement on Sunday by the Commission’s head Corporate Communications, Kayode Adegoke. NIMC clarified that XpressVerify is not one of the Commission’s licensed partners for […]
Pray, stop cursing Nigeria, Sanwo-Olu urges citizens
The Lagos State Governor, Babajide Sanwo-Olu, has appealed to Nigerians to pray rather than curse the country. He urged Nigerians to be patient with the government, saying the leaders were committed to turning the situation of the country around. According to a statement on Sunday, Sanwo-Olu, represented by his deputy, Obafemi Hamzat, spoke on Saturday […]
MoU with UK firm on rail project not binding – FG
The Federal Government has provided clarifications regarding the recent Memorandum of Understanding between the Ministry of Transportation and MPH Rail Development Limited, a construction firm from the United Kingdom. According to the government, the agreement is not considered binding. This follows recent reports stating that the FG entered into a Memorandum of Understanding with an […]
Strike: SSANU, NASU vow to ground varsities, FG feigns ignorance
The Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Nigerian Universities and Allied Institutions will commence a nationwide strike today (Monday), to protest their withheld four months’ salary. The National President of SSANU, Muhammed Ibrahim, informed on Sunday that the two unions were set for their nationwide strike. But the […]
Police arrest woman who ‘kidnapped’ self, 52 others
Police in Akwa Ibom rescued four kidnap victims in the last one month. One of them is a woman who faked her own abduction. They also arrested 52 suspects for various crimes. Commissioner of Police in the state, Mr Waheed Ayilara, told journalists in Uyo on Friday that some of the crimes were murder, kidnap, […]
Business News
Only seven banks can meet CBN recapitalisation requirements – Report
No fewer than 17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it is increased from its current N25bn, according to a report by Ernst and Young. The new report, titled “Navigating the Horizon: Charting the Course for Banks amid Plans for […]
New Shippers Council bill will become law by June – Reps
The House Committee on Shipping Services of the House of Representatives has assured that the new Shippers Council bill which has past the second reading at the lower chamber will be signed into law by June this year The Committee also promised that they are working on the establishment of a maritime bank to ease […]
Alternative Bank fosters rural economic growth in Katsina
The Katsina State Government via the State Governor, His Excellency, Dikko Radda, has aligned with The Alternative Bank’s mission to support rural economies through innovative financial solutions, tailored to empower local businesses and stimulate sustainable development across the state. The Bank, in a statement disclosed this, saying the official endorsement marks a significant milestone for […]
How FG funds petrol subsidy through crude oil sales proceeds
LAGOS — There are indications that the Federal Government through the Nigerian National Petroleum Company Limited (NNPC Ltd) is now spending N17.72 billion daily to fund subsidy on petrol. Though still shrouded in secrecy, the funding strategy, Vanguard learnt, is consummated by way of crude sales and direct cost recovery by NNPC. An executive of […]
Stock market sustains bullish trend as investors gain N2.1trn
The stock market sustained bullish trend last week as investors on the Nigerian Exchange Limited, NGX, gained N2.1trillion. Though the market recorded mixed sentiment, the gains outweighed the losses as the NGX market capitalisation, which represents the total value of investment on the Exchange, surged to N59.416 trillion at the close of trading on Friday […]
Bank directors seek lawmakers, regulators collaboration on policies
The Bank Directors Association of Nigeria has called for collaboration between lawmakers, regulatory authorities and the banking sector operators in the formulation and review of banking policies. According to a statement from the association, the call was made when the Chairman of the Board of Directors, Mr Mustafa Chike-Obi, led a delegation to the Chairman […]
MAN, LCCI hail FG over expatriate levy suspension
The Manufacturers Association of Nigeria, Lagos Chamber of Commerce and Industry and the Centre for the Promotion of Private Enterprise have commended the Federal Government over its decision to halt the implementation of the Expatriate Employment Levy. The private sector advocacy groups, in different statements, lauded the Federal Government for listening to widespread calls which […]
Govt urged to tackle insecurity as inflation hits 31.7%
Economists have urged the government to tackle the challenges posed by high energy costs, and insecurity, which has slowed down food production and foreign exchange volatility, to tame the accelerating inflation in the country. The economists spoke to Saturday PUNCH on the back of the country’s inflation rate climbed higher to 31.70 per cent in […]
Undersea cable cut: Banks scale down operations as engineers battle to restore services
Telcos resort to backup channels, banks advise customers on alternative platforms Cable firms deploy engineers to cut points, ATCON encourages investments in local data centres The service disruption caused by Thursday’s cuts to the undersea cable supplying broadband Internet connectivity to Nigeria and countries in the West African sub-region, on Friday, forced many banks and […]
VAT, CIT revenue up 60% to N8.5trn in 2023
Federal Government’s revenue through the Value Added Tax (VAT) and Company Income Tax (CIT) increased by 59.9 percent to N8.54 trillion in 2023, from N5.34 trillion in 2022. The fourth quarter, 2023 (Q4 2023) VAT and CIT figures released by the National Bureau of Statistics (NBS) yesterday, showed that VAT collections increased by 45.02 percent […]