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A former national vice chairman, North-west of the All Progressives Congress (APC), Salihu Lukman has written to President Bola Tinubu threatening to take legal action against the National Working Committee (NWC) of the party for breach of the party’s constitution. Lukman, in a letter dated May 21 and addressed to Tinubu, issued a two-week ultimatum […]

The Code of Conduct Bureau (CCB) has embarked on a marathon investigation to unravel former government officials and appointees, who had served the country in various capacities, but breached the Code of Conduct laws of the federation. Those who have failed to comply or those who made false declarations intentionally to deceive the agency and […]

Foreign Investors Trim Nigeria Eurobonds Holding, Yield Heats Up Foreign investors trimmed their interest in Nigeria Eurobond in the market midweek amidst uncertainties in the global economy. Nigeria is facing turbulent time as key macroeconomic indicators continue to cast doubts on effectiveness of government policy in about a year. Inflation accelerated to 33.69% in April […]

Selloffs in Zenith, GTCO Drag Nigerian Exchange Lower by N89bn A raft of selloffs on Nigerian big banks, Zenith and GTCO dragged the equities market capitalisation of the Nigerian Exchange downward by N90 billion midweek following interest rate hike.  After two consecutive bullish in the week, the benchmark index shed 16bps to close at 98128.00 […]

Naira Exchange Rates Diverge on Tight FX Liquidity The naira exchange rates diverged due to imbalance in the volume of foreign currency demanded and supplied in the forex markets. On one side, the naira recorded gain against the US dollar. At the other end, exchange rate worsened. The market still await FX sales from the […]

Femi Otedola, Zenon Petroleum Sues Zenith Bank over Alleged Illegal Shares Acquisition Billionaire Femì Otedola has allegedly dragged Zenith Bank Plc and Jim Ovia, Chairman of Zenith Bank to the Federal High Court Lagos, not only for illegal and unauthorized charges in its account, but also for the illegally and forcefully recovering his shares in […]

Frankfurt to Host 2027 Europa League Final The city of Frankfurt will host the Europa League final in 2027, European ruling body UEFA said on Wednesday.  This will be the third time a German city has hosted the event, after Hamburg in 2010 and Cologne in 2020. Leipzig, meanwhile, will welcome the Conference League final […]

Rwanda Gets $164.6m from IMF after Reviews The International Monetary Fund, IMF, said on Wednesday it was releasing a combined $164.6 million in funds to Rwanda after its executive board concluded reviews of the country’s support programmes. Rwanda’s economy is forecast to expand 6.6% this year and 6.5% next year after an 8.2% expansion last […]Read More

Dangote Foundation Distributes Rice to Host Communities The Aliko Dangote Foundation’s (ADF) N15 billion National Food Intervention programme has landed in Yewa Land as the Foundation commenced the distribution of 40,000 bags of rice in Ogun State. Yesterday, the 17 host communities of the Dangote Cement, Ibese plant, along with Itori, Igbogila, and Ilaro, received […]

Bank of Industry Grows Profit by 118% to N153 Billion The Bank of Industry (BOI) said its profit before tax increased from N70.7 billion to N153.81 billion, the highest in the bank’s history. According to the bank, this represents 117.69 percent. The Chairman of the Shareholders Committee, Malam Muhammed Bala, said this at the 64th […]

Binance, Executives Tax Evasion Trial Suffers Setback The arraignment of Binance Holdings Limited and its executive, Tigran Gambaryan, by Federal Inland Revenue Service (FIRS), on Wednesday, suffered a setback at a Federal High Court, in Abuja. The matter, which was scheduled for arraignment before Justice Emeka Nwite, could not proceed due to the absence of […]

FG calls for private sector  participation in sports development President Bola Tinubu has called for more involvement of  the private sector, non-governmental organisations and international partners in sports  development  in the country. The President made the call at the opening of the 1st National Council on Sports Technical meeting in Enugu on Wednesday. Tinubu, who […]