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Sell Pressure Pushed Nigerian Bonds Yield to 18.83% Benchmark yield on Nigerian government bonds climbed to 18.83% as fixed interest securities investors offloaded naira assets in the secondary market. Buying sentiment paused as Debt Management Office (DMO) released notice of its reopened bonds worth N450 billion. Compared with spot rates on Treasury bills, the Nigerian […]

FBN Holdings Sinks, Trades at 50% Below 52-Week High FBN Holdings Plc (Ticker: FBNH) has seen rapid price depreciation in 2024, causing the group to lose significant market value on the Nigerian, now trading at more than 50% below its peak price. In the last 52 week, the Nigerian lender has seen strong sell spree […]

Money Market Rates Crash as Liquidity Hits N1.2Trn Short-term benchmark interest rates dipped strongly in the money market on Thursday as liquidity level in the financial system climbed to N1.18 trillion. Investment banking firm, Futureview Finance Limited said liquidity in the financial system increased to N1.18 trillion on Thursday from N174.1 billion at the close […]

Femi Otedola Splashed N19bn on FBN Holdings Shares Femi Otedola, FBN Holdings Plc’s chairman, raised its shareholding in the financial services group with direct and indirect share purchases worth N19 billion on Thursday, according to a regulatory filing. According to an insider dealing in share notice published on the Nigerian Exchange, Otedola paid N6.934 billion […]

Reps Summon AGIP Oil Company over $80m Debt The House of Representatives Committee on Public Petition has summoned AGIP Oil Company to appear before it on June 26, over alleged N80 million owed to De Cooon Services Ltd. Rep. Michael Etaba, Chairman of the Committee, expressed displeasure over the non-payment and non-appearance of AGIP oil […]

EFCC Continues Criminal Charge Against Binance Executive Gambaryan The Economic and Financial Crimes Commission (EFCC), on Thursday, continued with its alleged money laundering case against Tigran Gambaryan, an executive of Binance Holdings Ltd., at a Federal High Court, Abuja The criminal charge continued before Justice Emeka Nwite in spite of the withdrawal of a charge […]

By Ogbu, Blessing Ekpere, Esq. At the general meeting of the Nigerian Bar Association (NBA) Garki Branch which held in February, 2024, it was resolved that an Electoral Committee be constituted to oversee the processes integrated in the conduct of the Branch elections. Accordingly, Mr Victor Orizu was appointed the Chairman of the Committee while […]

The Nigerian Army on Thursday took delivery of two new Bell UH1 Helicopters to herald the commencement of its aviation unit and boost the operational capabilities of the army in its counter-insurgency operations. Speaking while inspecting the two helicopters at the Nigeria Police Air wing of the Nnamdi Azikiwe International Airport, Abuja, the Chief of […]

The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has explained the new direction of the anti-corruption fight in the country. He spoke in Abuja on Thursday, June 20, 2024 when a combined delegation of the management team of National Bureau of Statistics (NBS), led by Statistician General of the Federation, […]

The federal government has unveiled mobile courts and new guidelines for hotels and schools to ensure speedy access to justice for cases of gender-based violence, sexual assault, and bullying. NAN reports that Uju Kennedy-Ohanenye, the women affairs minister, was at an Abuja partnership meeting with the stakeholders involved. The stakeholders include representatives from the ministries […]

There was serious tension in Kugbo mechanic on Abuja -Keffi Expressway as a yet-to-be identified soldier allegedly stabbed an electrician to death on Thursday. The incident occurred following an argument between the duo leading to the beating of the soldier, which later led to stabbing of the electrician simply identified as ‘Bobo Yellow’. The led […]

A desk officer in charge of responding to official correspondences in the office of the Secretary to the State Government, Gombe State, Usman Mallam, has been arraigned for allegedly tearing the Economic and Financial Crimes Commission’s Official Investigation Activities’ letters. Mallam who was arraigned before a Federal High Court in Gombe was also accused of […]