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About 60 members of the House of Representatives are currently seeking amendments to the 1999 Constitution to transition from the current presidential system to the parliamentary system of government. Led by a lawmaker representing Lagos State under the All Progressives Congress, Wale Raji, the lawmakers identified the need for reducing the cost of government, and […]

A digital rights organization, Personal Data Protection Awareness Initiative, has submitted a petition to the National Data Protection Commission over “deeply concerning” privacy violations committed by the Joint Admissions and Matriculation Board (JAMB). In a letter dated February 9th, 2024, the group highlighted an incident publicized across news outlets where a JAMB Computer Based Test […]

*NNPC Explains $3.3billion Loan Secured For CBN The Chairman of Federal Inland Revenue Service (FIRS) , Zaccheus Adedeji, yesterday faulted the N2.59trillion Tax Credit Scheme introduced by former President Muhammadu Buhari’s administration in 2021. The scheme was meant for road construction across the country. He stated this when the executors of the Tax Credit Scheme […]

Minister of Power, Adebayo Adelabu, has said that Nigeria cannot continue to subsidise electricity, adding that the country needs to start implementing a cost-effective tariff model. This, he said, is because the country owes Generating Companies (GenCos) N1.3 trillion and gas companies $1.3billion. Adelabu stated this in a briefing in Abuja on Wednesday. The Minister […]

The Federal High Court of Nigeria, Lagos Division, has issued a restraining order against the Lagos State Environmental Sanitation and Special Offences Unit (Task Force) and its head, CSP Shola Jejeloye, preventing them from taking control of a landed property owned by businessman Olasheni Adeyinka, popularly known as Abu Abel. In suit number FHC/CS/80/2023, Justice […]

The All Progressive Congress (APC) and the Independent National Electoral Commission (INEC) have tendered conflicting election results on the November 11, 2023 Governorship election in Bayelsa State. The conflicting election results were tendered at the Bayelsa State Governorship Election Petition Tribunal sitting in Abuja. The chairman of the tribunal, Justice Adekunle Adeleye, however, admitted them […]

The Nigerian Bar Association (NBA) has asked the Federal Government to take urgent steps to address the worsening state of security in the country and its dwindling economic fortune in view of the impact on the populace. Speaking in Abuja , NBA President, Yakubu Maikyau (SAN) said the heightening state of insecurity and the sorry […]

NGX Declines by N183bn as Buying Sentiment Fades The market capitalisation of the Nigerian Exchange (NGX) declined by more than N183 billion on Tuesday as equities investors, and stockbrokers sold off shares in banking, and consumer goods. The negative trade plunged the local exchange downward amidst earnings released by listed companies. Reversing the previous day’s […]

FGN Bonds Yield Slide 5bps to 15.5% Nigerian local bond market recorded increased demand which pushed the yield curve. In the secondary market for FGN Bonds, trading activity was in a bearish mode as the average yield increased by 5 basis points to 15.54%. This was a result of a yield expansion of 1.25% in […]

AFCON 2023: Tinubu Confers MON Award on Super Eagles Players President Bola Tinubu on Tuesday conferred national honours on players of the Super Eagles who were runners-up in the just concluded 2023 African Cup Of Nations (AFCON) played in Cote d’Ivoire. Tinubu, who received the team at the Presidential Villa in Abuja, commended the players […]

Nigeria’s potential can produce 2.2 mln oil bpd – NUPRC boss Mr Gbenga Komolafe, the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria has the potential to produce 2.2 million bpd as against the current production of between 1.5 million and 1.6 million. Komolafe disclosed this at the 8th Sub-Saharan Africa International Petroleum, […]

U.S. Senate Approves Ukraine Aid Package The U.S. Senate has approved a 95.3 billion dollar aid package for Ukraine, Israel and Taiwan after many weeks of negotiations. The bill has passed 70 to 29 in the Democratic-led chamber. However, the Republican-controlled House of Representatives is far from certain, as former president and 2024 frontrunner Donald […]