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Businessman Tony Elumelu has increased his stakes in Transnational Corporation (Transcorp) by about N23 billion to nullify a takeover bid by fellow investor Femi Otedola. Mr Elumelu acquired 9.69 billion shares through his investment company, HH Capital Limited, which previously held 293.98 million shares in Transcorp. With his share purchase, Mr Otedola surpassed Mr Elumelu, […]

The Department of State Services (DSS) has arrested the chief security detail to Adamawa State governor, Ahmadu Umaru Fintiri, over alleged molestation of electoral officials as well as a senior security officer. A mob had broken into Green City Hotel in Yola and dragged some officials from their rooms following the controversial declaration of the […]

A Federal High Court sitting in Abuja, on Thursday, declined a request seeking an order postponing the 2023 Census slated to be held from May 3 to 5. Justice Inyang Ekwo refused to grant the application, but instead asked the applicant, Omotuyi Ademola, to put the defendant, the National Population Commission, on notice. Ekwo affirmed […]

The crisis rocking the ruling All Progressives Congress (APC) has worsened as the party’s national vice chairman (North-West), Salihu Mohammed Lukman, has sued the national chairman, Abdullahi Adamu over alleged abuse of the party’s constitution. In the the suit N0: FHC/ABJICS/ 573 filed at the Federal High Court in Abuja on Thursday through his counsel, […]

*Nigerian Army’s Fighting Power Significantly Increased Since 2015 – Buhari The Nigerian Army, on Thursday, retired 53 regimental colours used in the order of battle. The ceremony being held at the Eagle Square Abuja also witnessed the issuance of colours to 28 newly created units bringing number units in the Nigerian Army to 81. The […]

By Sylvester Udemezue Clauses 48 and 93 of the Regulations and Guidelines on Electronic Transmission This author is of the view that a combined reading of section 47, 50(2), 60(5) and 64(4)-(8) I  of the Act and Clauses 38 and 48(a) of the Regulations and Guidelines appears to show that e-transmission of election results from […]Read More

*Awards N1.5m Cost In Favour Of CJ The Federal High Court, Abuja has dismissed the suit filed by the registered trustees of the Airline Operators of Nigeria (AON) challenging the letter by the Chief Judge of the court, Justice John Tsoho, directing the transfer of the matter pending before the Lagos division of the court […]

Nigeria Approves Action Plan 2022-2026 on Human Rights The Federal Executive Council (FEC) has approved Action Plan 2022-2026 for the promotion and protection of human rights in Nigeria. The Attorney General of the Federation and Minister of Justice, Abubakar Malami, disclosed this while briefing State House correspondents at the weekly meeting of the council chaired […]

NGX Expands by N267bn as Banking Stocks Rally The size of the equities segment of the Nigerian Exchange (NGX), expanded further midweek as the banking sector recorded an increase in buying momentum, pushing year-to-date returns away from negative. Consequently, key performance indicators rose following sustaining the market rally, indicating a fresh rally could be seen […]

PAPSS, ASEA to Improve Cross-Border Payments of Stock Exchange in Africa The Pan African Payment and Settlement System (PAPSS) and the African Securities Exchange Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border payments of Capital Markets infrastructure in Africa. The MoU was signed on 14 April […]

Food Inflation Remains High Globally, World Bank Says The World Bank says inflation in food prices remains high globally. It made the declaration in its latest Food Security Update report issued on Wednesday. “Information from the latest month between December 2022 and March 2023 for which food price inflation data are available shows high inflation […]

MTN Zambia Launches Skills Academy to Empower Youth, Bridge Digital Skills Gap MTN Group has announced the launch of its flagship MTN Skills Academy in Zambia, the first of its operations to roll out this initiative which is aimed at addressing the digital skills gap in Africa. First introduced at MWC in Kigali, the MTN […]