Nigeria News
2023 presidency: We’ll give Jonathan chance to contest -APC
The All Progressives Congress says former President Goodluck Jonathan will be given an opportunity to contest for the 2023 presidency if he joins the ruling party. The National Secretary, APC Caretaker, and Extra-ordinary Convention Planning Committee, John Akpanudoedehe, said this while featuring as a guest on Channels Television’s Politics Today on Wednesday. He said this when asked […]
Two suspects arrested over murder of Senator Bala Na’Allah’s son Abdulkareem
Two suspects have been arrested in connection with the killing of Captain Abdulkareem, the 36-year-old son of Senator Bala Na’Allah. A source said the suspects were apprehended two days ago. However, details of the arrest were sketchy as of the time of filing this report. The Kaduna State Police Command Public Relations Officer, ASP Mohammed […]
Nine dead, many injured as fighter jet allegedly bombs Buhari village in Yobe State
A Nigerian Air Force fighter jet has killed nine people in Buhari community, Yunusari Local Government Area of Yobe State, residents say. Several other villagers sustained injuries and are now receiving medical attention at a government health facility in Geidam. This is even as the Nigerian Air Force denies any link of its fighter jets […]
National Assembly defends Buhari’s $4.9bn loan plan, APC, PDP clash over debt
The Senate on Wednesday justified the President, Major General Muhammadu Buhari (retd.)’s plan to obtain $4.054bn and €710m ($$839m) loans. The Chairman of the Senate Committee on Media and Public Affairs, Senator Ajibola Basiru, who stated this in an interview with one of our correspondents in Abuja, said there was no country that does not […]
Abdulrazaq: An Emerging North Central Star
Achievements of the Kwara State Governor, Abdulrahman Abdulrazaq, not only speak for him but fast changing the narrative of the state, writes Nseobong Okon-Ekong A little while ago, Governor Abdulrahman Abdulrazaq of Kwara State was mainly in the news for the many battles to retrieve government funds or property from his predecessor, former Governor Abdulfatah […]
Nigeria sets July 2022 for return of Benin artifacts by Germany
Nigeria has agreed with Germany for hundreds of artefacts stolen during colonial times to be returned from July next year and is negotiating with other museums to repatriate more, an official said on Tuesday. Thousands of pieces of Nigeria’s so-called Benin Bronzes — 16th to 18th century metal plaques and sculptures — were stolen from […]
VAT: Wike Goes to S’Court, Wants Stay of Execution Nullified
The Rivers State government on Tuesday asked the Supreme Court of Nigeria to quash the ruling of the Court of Appeal, Abuja Division, which ordered parties to maintain Status Quo in a suit seeking to determine, who has the right to collect Value Added Tax (VAT) in Rivers State. Justice Stephen Pam of a Federal […]
President Seeks Senate Approval for $4.179bn, €710m External Loans
President Muhammadu Buhari has formally sent a letter to the Senate seeking its consideration and approval of $4.179 billion ($4.054 billion and $125 million) as well as £710 million external loans to fund projects captured under the 2018-2021 borrowing plan. But the Peoples Democratic Party (PDP) yesterday vehemently rejected the move by the president, alleging […]
Reliving Ekweremadu’s Legislative Activism
Former Deputy President of the Senate, Senator Ike Ekweremadu, is bringing his experience to bear as a ranking fourth term Senator in the Ninth National Assembly, Deji Elumoye reports That former Deputy Senate President, Senator Ike Ekweremadu, has gathered a lot of parliamentary experience at the local and international level is not in doubt. He […]
Kabba Prison Break: Security Recaptures 99 Inmates
Security operatives, yesterday, recaptured about 99 inmates out of the 294 that escaped from the Kabba Correctional Centre in Kogi State, after some gunmen attacked the facility at about 11.03 Sunday night. Although over 150 other inmates were still at large as at last night, reports also had it that no fewer than two security […]
Business News
Buying Interest in MTN Nigeria, 13 Others Lift Stock Market by N24.92bn
The Nigeria equities market yesterday sustained prior day’s gains by N24.92 billion, due to buying interest in MTN Nigeria Communications (MTN) and 13 others. At the close of trade, the Nigerian Exchange Limited (NGX) All Share Index (ASI) increased by 47.84 basis points, representing a growth of 0.12 per cent to close at 38,968.34 basis […]
Access Bank Successfully Launches $500m Senior Unsecured Eurobond in Global Medium-term Note Programme
Access Bank Plc yesterday in Lagos announced the successful launching of a $500 million 144A/RegS Senior Unsecured Eurobond, as part of its Global Medium-Term Note Programme. According to a notice the Nigerian Exchange Limited (NGX), signed by the company’s secretary, Sunday Ekwochi, the transaction recorded a massive interest from top quality investors globally, including the […]
Nigeria piles up N2.36tn debt stock in three months
The Nigeria’s total public debt stock rose from N33.11tn as of March 31, 2021 to N35.47tn as of June 30, 2021. This shows an increase of N2.36tn or 7.13 per cent increase within the three-month period. The Director General of the Debt Management Office, Patience Oniha, provided a breakdown of the public debt stock for […]
AfDB approves $50m facility for Standard Chartered Bank
The African Development Bank Group has approved a $50m Trade Finance Unfunded Risk Participation Agreement for StandardChartered Bank. This was contained in a statement titled ‘African Development Bank approves a $50m Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank’ published on the bank’s website on Wednesday. The statement said, “The board of […]
World Bank: Reduce Global Emissions, Support Green or Face 86m African Internal Climate Migration by 2050
The World Bank in its updated Groundswell report has revealed that Sub-Saharan Africa could experience as many as 86 million internal climate migrants by 2050. The report obtained from its website also highlighted the urgent need for immediate and concerted actions to reduce global emissions, support green, inclusive, and resilient development that could reduce the […]
BDCs and $34bn Dispora Remittances
The CBN should institute a framework that allows BDCs, which have automated their operations, to receive the estimated $34 billion diaspora remittance into the economy to boost dollar reserves, writes Hameed Ayodaji. There are many things working in favour of Nigeria that are hardly noticed. Top on the list is the $34 billion estimated annual […]
Experts, others carpet National Assembly as Buhari plans $4bn, €710m borrowings
The President, Major General Muhammadu Buhari (retd.), has asked the National Assembly to approve fresh external loans of $4.05bn and €710m for his regime. Experts and Civil Society Organisations who spoke to our correspondents faulted the process of approving loans for the current regime by the National Assembly. Buhari is also seeking the nation’s legislature’s […]
Ten Banks OPEX Hits N932.26bn in H1 2021 Driven by Double-digit Inflation, AMCON Levy, Others
Despite the bountiful profits reported by deposit money banks in the country in their Q2 reports, it has emerged that double-digit inflation rate, among other factors drove a total of 10 banks Operating Expenses (OPEX) by seven per cent to N932.26billion in half year of 2021 (H1) as against N871.67 billion in the comparable period […]
Vetiva, CGF Bourse, IC Securities Unveil 17 Stocks on W’Africa Equities Index
CGF Bourse, IC Securities and Vetiva Capital have co-created the VCI West African Equity Index, which is intended to serve as an investable benchmark for the performance of equity investments across West Africa. The head of Sub-Saharan Equities Coverage at Vetiva Capital, Mr. Luke Ofojebe in a statement said: “The VCI West African Equity Index […]
VAT judgement: FIRS may lose N92bn revenue to states
If the judgement of the Federal High Court asking states government to collect Value Added Tax in their domain is upheld by the Appeal Court, the Federal Inland Revenue Service will lose about N92bn which it is expected to earn as cost of collection. The law setting up the FIRS allows the agency to a […]