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Naira Hits Old Red Line as FX Crisis Gets Messy The naira has hit the old red line of N1,490 per US dollar. Pressure on the Nigerian naira deepened across forex market on Monday as exchange rates hit new red lines it has crossed in the past. FX supply in the market was below the […]

Recapitalisation: CSOs Uncover Counterplans to Stop FG’s Proposed Banking Reforms The Coalition of Civil Society Organisations has alerted the Federal Government and CBN to an organised plot by some vested interests to orchestrate a diversionary campaign to stop the proposed banking sector reforms. The coalition is made up of the Constitutional Rights Advocate Initiative, Cadrell […]

FBNH, GTCO, 25 Others Drag NGX Down by N49bn Selloffs on FBNH, GTCO and Lafarge WAPCO are among the decliners on the Nigerian Exchange (NGX) that dragged the local bourse downward by more than N49 billion. The local bourse bled deep last week, lost more than N103 billion as selloffs on banking, insurance stocks halted […]

Reps Seek Increase in Budgetary Allocation to Science Research, Technology The House of Representatives Committee on Science and Engineering has called on the Federal Government to increase budgetary allocation to science and technology research to boost the country’s socio-economic development. Chairman of the committee, Inuwa Garba, made the call during the oversight visit to Sheda […]

Cholera Death Toll Rises to 29, Infections 579 in Lagos The Lagos State Commissioner for Health, Prof. Akin Abayomi, says fatalities from the state’s cholera outbreak have risen to 29 deaths and 579 suspected cases across multiple local government areas in the state. Abayomi announced this during a state multiagency news conference and update on […]

Alleged N1.84bn Fraud: ICPC Arraigns REA Finance Director, Sambo The Independent Corrupt Practices and Other Related Offences Commission (ICPC), on Monday, arraigned Abubakar Sambo, Director of Finance and Account of the Rural Electrification Agency (REA) for alleged fraud to the tune of N1.84 billion. Sambo was arraigned before Justice Bolaji Olajuwon of a Federal High […]

Nigeria Has 40.2m Agriculture Households – NBS Nigeria has about 40.2 million agricultural households, the National Bureau of Statistics (NBS)  has said. This was made known in the unveiling of the National Agricultural Sample Census(NASC) 2022 in Abuja on Monday. The  census was conducted by the NBS in partnership with the World Bank, Federal Ministry […]

Crude Oil, Fuel Laden Vessels to Berth in Apapa, Tincan Ports No fewer that five vessels laden with crude and diesel fuel will berth in Apapa and Tincan ports in Lagos, a daily publication the Nigerian Ports Authority, has indicated. The publication Shipping Position obtained in Lagos on Monday, also indicated that the vessels would […]

CITAN President, Others Proffer Ways to Check Inflation Rate Some experts have urged the Federal Government to support the establishment of more refined petroleum plants and agricultural intervention schemes in the country. According to them, this will help check the rising inflation rate and ameliorate the current economic hardship. They expressed their views in Lagos […]

ICAN Tasks Accountants on Accountability The Institute of Chartered Accountants of Nigeria (ICAN) has called on accountants in the country to be accountable and work within the ethics of their profession. ICAN President, Davidson Alaribe, made the call on Monday at the Investiture of the 9th Chairman and Inauguration of the Executive Committee, Auchi and […]

Shoprite Mall has announced the closure of one of its branches in Abuja, effective June 30, 2024. The branch set to close is located at Novare Central Mall in Wuse Zone 5. This decision was communicated in a circular signed by the Chief Executive Officer, Dr. Folakemi Fadahunsi, on Monday, June 24. The mall cited […]

Grace Nation Church has decried attempts by previous members, one Omolayo Ibukun Michael to use the media to blackmail it over two vehicles he gifted the church about three years ago and is now demanding it’s return. In a statement on Monday, the legal representative of the church, Ilesanmi Akinwale acknowledged that Omolayo indeed gave […]