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A Federal High Court in Abuja on Wednesday issued an order empowering the Economic and Financial Crimes Commission (EFCC) to arrest the former Governor of Kogi State, Yahaya Bello. Justice Emeka Nwite issued the order in a ruling on an ex-parte motion, marked: FHC/ABJ/CR/98/2024, filed April 17 by the EFCC. Justice Nwite, after listening to […]

The Federal Government has inaugurated a 17-man Inter-Ministerial Committee for the 2024 Democracy Day Celebration. The Committee headed by the Secretary to the Government of the Federation, George Akume, is charged with the responsibility of organising a memorable and befitting Democracy Day celebration. Members of the committee are Minister of Information and National Orientation, Mohammed […]

The Speaker, Kaduna State House of Assembly, Yusuf Liman, on Wednesday, warned Bello El-Rufai, the son of the immediate past governor of the state, Nasir El-Rufai, against threatening and intimidating the House over the investigation of his father’s tenure. The state House of Assembly had on Tuesday set up a committee to investigate financial dealings, […]

Naira Skids as FX Turnover, External Reserve Decline The Nigerian local currency, the Naira, depreciated first time in weeks following a sharp declined forex turnover at the Nigerian autonomous foreign exchange market. The nation’s gross external reserves declined steeply ahead of government foreign currency bonds issuance in the secondary quarter of the year. According to […]

CBN Expresses Commitment to Harnessing Digital Technologies The Central Bank of Nigeria says it is committed to harnessing the power of digital technologies to enhance financial inclusion. Mr Yemi Cardoso, CBN Governor, said this on Tuesday in Abuja, during a strategic institutions tour by participants of Senior Executive Course 46 of the National Institute of […]

Afriland Properties Shareholders Endorse N343.5m Dividend Shareholders of Afriland Properties Plc. have unanimously endorsed a total dividend of N343.5 million for the financial year ended Dec. 31, 2023. The shareholders gave the approval at the company’s 11th Annual General Meeting on Tuesday in Lagos. The dividend translated to 25k per share, representing an increase of […]

QNET Raises Alarm Over Fraudulent Use of Foundation’s Name in Nigeria QNET, a global lifestyle and wellness-focused direct-selling company says it has recently become aware of fraudulent activities being carried out in the name of its affiliate, RYTHM Foundation. The company said in a statement signed by Mr Biram Fall, Regional General Manager, QNET Sub-Saharan […]

Global Growth Will Hold Steady at 3.2% in 2024, 2025- IMF The International Monetary Fund (IMF) says global growth in 2024 and 2025 is projected to hold steady at 3.2 per cent, at the same pace as in 2023. This is according to the IMF’s latest World Economic Outlook (WEO) Update Report for April 2024: […]

Nigerian Exchange Bleeds, Investors Lose N1.113Trn The Nigerian Exchange (NGX) all share index (ASI) sank below 100,000 points psychological levels as selling spree ravaged the local bourse. Equities market capitalisation also retraced after successive daily losses spanning eight days. Due to sustained selling festival on banking stocks and other bellwethers, the market performance indicator dipped […]

NCAA Suspends Licences of 3 Private Jet Owners Nigeria Civil Aviation Authority (NCAA) has suspended licences of three Permit for Non-Commercial Flight (PNCF), otherwise known as private jet owners, over alleged failure to comply with regulatory requirements. Acting Director-General of NCAA, Capt. Chris Najomo, disclosed this to newsmen on Tuesday in Lagos. Najomo said that […]

OPEC Woos Namibia as African Nation Prepares to Produce From 2030 The OPEC+ oil producers group is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade. An African industry official and sources told Reuters on Tuesday. TotalEnergies and Shell, in recent years, have made discoveries […]

Fidelity Bank Posts N124.3bn Pre-Tax Profit in 2023 Fidelity Bank Plc has recorded a profit before tax of N124.3 billion for the year ended Dec. 31, 2023, indicating 131.5 per cent increase from N53.7 billion posted in the 2022 finacial year. The bank disclosed this in its 2023 full year audited financial statement issued to […]