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The Federation Accounts Allocation Committee (FAAC) has distributed N1.208 trillion in revenue to the Federal Government, States, and Local Government Councils for May 2024 from April revenue. This figure represents an increase from the N1.017 trillion distributed in March 2024. The total distributable revenue of N1.208 trillion was made up of: distributable statutory revenue, N284.716 […]

Minister of Power, Adebayo Adelabu said those grumbling over the electricity tariff increase for Band A customers are people who are not paying electricity bills. Adelabu stated this at the 8th Africa Energy Marketplace forum on Thursday in Abuja. The said the new tariff has led to reduction in energy cost for consumers in the […]

An Iyaganku Magistrate Court in Ibadan has ordered that the former Chairman of the Park Management System, Alhaji Lamidi Mukaila aka Auxiliary be remanded in Agodi Correctional Centre. The PMS boss who was arrested a fortnight ago was charged to court by the Oyo State Police Command. Earlier, he had been paraded at the State […]

A Federal High Court in Osogbo, presided over by Justice Nathaniel Ayo-Emmanuel, has struck out the suit filed by Mr Kanmi Ajibola, asking to be allowed to continue appearing to defend clients after becoming a lawmaker. In the suit, No. FHC/OS/CS/42/2023, Ajibola, who is now a member of Osun House of Assembly, sought to be […]

Speakers of 36 Houses of Assembly on Thursday endorsed agitations for the establishment of state police to tackle insecurity in the country. They urged the National Assembly to include the proposal for state police among bills it will consider during their ongoing processes by the amend the constitution. They alao urged President Bola Tinubu to […]

Senegalese President, Bassirou Faye, has arrived the Presidential Villa , Abuja on a visit visit to President Bola Tinubu. Faye, was received at the forecourt of the Villa on Thursday afternoon by President Tinubu. This is the first time that the 44 year old African leader is visiting Nigeria since assumption of office in April. […]

The French government has announced a ban on social media platform TikTok to tackle the riots on Pacific Island overseas territory from escalating. The app will be blocked as part of a state of emergency measure, which includes the deployment of the Army and a curfew on the island. France’s Prime Minister Gabriel Attal in […]

WAEC Introduces CBT Option in Nov. 2024 WASSCE The West African Examinations Council (WAEC) says candidates for the November West African Senior School Certificate Examination (WASSCE) will have the option of choosing between computer-based tests (CBT) and paper-based tests. Head of National Office, WAEC, Nigeria, Dr Amos Dangut, stated this in Ibadan on Wednesday while […]

Naira Rises as Nigeria Records 16th FX Receipts in 25-Day The naira popped up following a series of downturns in the foreign currency market following a sustained increase in gross external reserves. The naira reclaimed value against the US dollar to settle below N1460, according to data from the FMDQ Securities Exchange. The local currency […]

Reps Move to Regulate House Rent in FCT The House of Representatives, in a resolution on Wednesday, urged the Federal Capital Territory Administration (FCTA) to formulate policies to regulate house rents and activities of landlords in Abuja. The resolution followed the adoption of a motion by Rep. Emmanuel Udo (PDP-Akwa-Ibom) on the floor of the […]

Equities Market Sinks by N74bn as Selling Spree Persists Sustained selloffs wiped out about N74 billion from the Nigerian Exchange (NGX) equities segment on Wednesday amidst fear of surging inflation. The negative perception of stocks in the local bourse caused year-to-date returns to moderate, tracking the annual inflation rate. The headline inflation rate went through […]

FG Lists N4.21bn April Savings Bonds on Nigerian Exchange  The Federal Government of Nigeria, FG, has listed its April 2024 Savings Bonds worth N4.214 billion on the Nigerian Exchange (NGX) platform. The listing was announced by the Head, Issuers Regulation Department of NGX, Mr Godstime Iwenekhai, in a market bulletin. Iwenekhai listed the details of […]