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Two adult females and a baby have been trapped in a one-storey building that collapsed in the Ebute-Metta area of Lagos State. This is just as one person has been rescued from the debris of the collapsed one-storey building with a penthouse. Director of the Lagos State Fire and Rescue Service, Margaret Adeseye, confirmed the […]

Lagos LCDA Chair Presents N3.8bn Budget for 2024 The Chairman of Onigbongbo Local Council Development Area in Lagos State, Mr Oladotun Olakanle, on Wednesday, presented a budget estimate of N3.8 billion for the 2024 fiscal year to the council legislators. The budget is tagged “Budget of Advancement”. Speaking at the occasion, Olakanle said that the […]

Fitch Keeps FCMB on Rating Watch Over Capital, Asset Quality Pressures Fitch Ratings has maintained First City Monument Bank Limited’s (FCMB) Issuer Default Ratings (IDRs), Viability Rating (VR) and National Ratings on Rating Watch Negative (RWN). The maintained RWN reflects Fitch’s view that while FCMB stayed compliant with its minimum total capital adequacy ratio of […]

Naira Drops as Demand for US Dollar Spikes The Nigerian naira depreciated as demand for foreign currency increased at the official market. Surprisingly, the exchange rate appreciated at the black market as year-end demand slowed downward. While analysts remain optimistic, remittance from Nigerians in the diaspora has been unable to saturate FX scarcity experienced in […]

22 Trillion Ways And Means Responsible for Increase in Domestic Debt – DMO The Debt Management Office (DMO), says there was a sharp increase in Nigeria’s total domestic debt stock between December 2022 and June. The DMO in a statement clarifying the country’s domestic debt stock on Thursday, said the inclusion of N22.719 trillion securitized […]

Petrol Price Increased to N648.93 in November- NBS The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N202.48 in November 2022 to N648.93 in November 2023. NBS said this in its Petrol Price Watch for November 2023 released in Abuja on Thursday. It stated that the […]

UBA Gives Customers December to Remember In line with its custom of rewarding loyalty especially during the yuletide season, Africa’s Global Bank – United Bank for Africa (UBA) Plc- has rewarded its loyal customers in the just concluded UBA Super Savers Draws giving out over N36 million in cash prizes. The winners were announced following […]

Turkey, Nigeria to Partner on Social Protection, Disaster Response The Turkish Ambassador to Nigeria, Mr Hidayet Bayraktar, has expressed his country’s interest to partner with Nigeria’s humanitarian ministry to advance social protection and disaster response in the country. Bayraktar communicated this on Wednesday when he paid a courtesy visit to the Minister of Humanitarian Affairs […]

Shettima Unveils SMEDAN Headquarters, Reiterates FG’s Commitment to Poverty Reduction Vice-President Kashim Shettima on Wednesday reiterated the commitment of President Bola Tinubu’s administration to poverty reduction and economic revitalisation. Shettima stated this while inaugurating the corporate headquarters of the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Abuja. According to him, Tinubu’s administration […]

FCT-IRS to Deploy Artificial Intelligence in Tax Collection, Says Ag Chairman The Federal Capital Territory Internal Revenue Service (FCT-IRS) is to deploy artificial intelligence to facilitate voluntary tax compliance in 2024. The acting Executive Chairman of the service, Mr Haruna Abdullahi, made this known during the FCT-IRS end-of-year media briefing, in Abuja on Wednesday. Abdullahi […]

Association Attributes Naira Scarcity to Panic Withdrawals, Hoarding The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has attributed the current naira scarcity to panic withdrawals by bank customers. Its President, Mr Olusoji Oluwole, in a statement on Wednesday in Lagos, said such withdrawals were done out of fear of the sufferings […]

A London court on Thursday gave Nigeria final victory as it refused to grant an application by Process & Industrial Development (P&ID) seeking to appeal the judgment halting the enforcement of its $11 billion award against Nigeria. The court in the judgment delivered by the presiding judge, Robin Knowles, ruled that the award against Nigeria […]