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NGX Expands, Market Cap Hits N38.6T Equities market capitalisation of the Nigerian Exchange (NGX) jumped to about N38.6 trillion on Friday due to renewed interest in growth, and value stocks listed in the bourse. After hitting the rooftop with a series of positive price movements, the local bourse witnessed some selling rallies on Thursday amidst […]

Naira Strengthens on Surprise Action The Nigerian naira staged a fresh recovery across the foreign exchange markets as the monetary authority launched plans to uncaged the dollarized economy. The apex bank began FX backlog payment to deposit money banks estimated at $7 billion. Analysts laud the development which supported increased US dollar liquidity in the […]

Military Destroys 96 Illegal Refining Sites, Arrests 57 Suspects Troops of “Operation Delta Safe’’ uncovered and destroyed 96 illegal refining sites and apprehended 57 suspected oil thieves in the Niger Delta in the last one week. The troops also discovered and destroyed 106 dug out pits, 111 boats, 229 storage tanks, 290 coking ovens, eight […]

UBA Reiterates Commitment to SMES Financing to Boost Growth United Bank for Africa (UBA) Plc says it will continue to provide access to finance to boost Nigerian Small and Medium Enterprises (SMEs) representation in international markets and economies. Prince Charles Ayewoh, the Group Head, Retail, Product and Sales, UBA, asserted the 2023 Lagos International Trade […]

Unity Bank Posts N38.2bn in Gross Earnings Retail lender, Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by 5% to N344.4 billion within the period, indicating business growth and customer confidence in the Bank. A review of the lender’s unaudited nine-month […]

France Promises to Return $150m Abacha Loot Paris made a commitment in Abuja on Friday to return 150 million dollars of deceased Gen. Sani Abacha’s loot frozen in France. Minister for Europe and Foreign Affairs of France, Ms Catherine Colonna told a news conference that France would return the loot to strengthen bilateral relations between […]

Reps to Audit Petrol Subsidy Regime The House of Representatives Committee on Petroleum Resources (Downstream), says it plans to conduct a comprehensive audit of the subsidy regime of the Premium Motor Spirit (PMS) in the country. Rep. Ikeagwuonu Ugochinyere, the Chairman, said this at the committee’s inauguration in Abuja on Friday. He said that the […]

The Director General of the National Youth Service Corps, Brig-Gen. Dogara Ahmed disclosed that NYSC, as a scheme, receives an average of 350,000 corps members into its scheme yearly to promote national unity. He disclosed this while delivering the 5th Convocation Lecture of the Edo State University, Uzairue, titled “Harnessing the Potentials of the Nigerian […]

By Chidi Anselm Odinkalu In July 2013, Akunnia Obiefuna Benjamin Nwabueze, the extraordinary scholar, teacher, lawyer, winner of the Nigerian National Order of Merit (NNOM) and Senior Advocate of Nigeria (SAN), who has died at the age of 94, applied to the Almighty for another five years on earth. In keeping with the record of […]

Minister of Power, Mr Adebayo Adelabu, on Saturday allayed fears about his safety following Friday’s incident near the Ladoke Akintola Airport in Ibadan, Oyo. A source close to the Minister told the News Agency of Nigeria (NAN) in Ibadan that Adelabu was in good spirits and not perturbed by the incident. NAN reports that the […]

In line with the NUPRC appeal and caution, the Nigerian National Petroleum Company Limited (NNPCL) has agreed to supply 650,000 barrels per day to Dangote refinery with up to six million barrels of crude oil by the end of December. This, according to reports, will be used to test run the refinery following the growing […]

Motorists, commuters and residents along the Onitsha-Owerri Road, have accused some naval ratings of using teenagers to extort money for them at the checkpoints they mounted at the Enamel axis, near the upper Iweka area of the ever-busy federal road. However, on a visit to the area on Friday, it was observed that two young […]