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NGX Down By N67bn as Banks, Insurance Stocks Plunge It was a selling festival again at the equities market on Thursday as bears extended their grip on the local exchange for three out of four trading sessions. Data from the Nigerian Exchange (NGX) showed that market capitalisation went down due to selloffs in banking stocks, […]

Untamed Demand for US Dollar Pins Naira at N837 A steep rise in foreign currency, especially the United States (US) dollar pinned the naira rate above N837 at the official window. Across foreign exchange markets, analysts have predicted a bleak outlook for the year after a failed devaluation that sought to unify exchange rates. Given […]

Naira Trades at N810, Parallel Market Rate Slides The naira appreciated by about 6% at the Nigerian Autonomous Foreign Exchange Market (NAFEM) as demand for foreign currencies spiked above supply level. The local forex market has been heat up with increasing demand for import payments. There is another side to it, research analysts at LSintelligence […]

Alladin Digital Bank Launches Wallet to Ease Payments As more Nigerians adopt digital payments after facing a cash shortage earlier this year, Aladdin, a Lagos-based fintech firm, has introduced a pan-African wallet to ease digital transactions. The app, which is akin to China’s WeChat or Alipay, is designed to serve the payment and commerce needs […]

*Says Constitution Allows INEC Present Any Document as Correct A Senior Advocate of Nigeria, Robert Clarke, has blamed the 1999 Constitution for the incessant electoral litigations over the years and said there will be no end to electoral issues until the law is amended. Clarke, who was a guest on Channels Television’s Politics Today on […]

*As Parties Present Two Conflicting Judgments Before Court The State and National Assembly Appeal Court sitting in Lagos on Thursday reserved judgment on an appeal by Ebitonmo Anthony Alapala of the All Progressives Congress (APC) challenging the victory of the Peoples Democratic Party (PDP)’s Forteta Asupa Peter in the March 18 election for the Burutu […]

A man wanted for the murder of a Maryland judge who ruled against him in a child custody case has been found dead, officials said Thursday. The body of Pedro Argote, 49, was found in a wooded area near his vehicle last week, the Washington County Sheriff’s Office said in a statement. The sheriff’s office […]

Former Minister of Transportation, Rotimi Amaechi, has accused the immediate Managing Director of the Nigeria Ports Authority, (NPA), Hadiza Usman of documenting false narrative in her book titled: “Stepping on Toes: My Odyssey at the Nigerian Ports Authority.” He said, “There is a huge debate in the past six months whether I should respond or […]

The police in Rivers State have arrested a 400-level student of Petrochemical Engineering at the University of Port Harcourt, Demain Okoligwe, for allegedly killing his girlfriend and harvesting her organs at his residence along NTA Road, Ozuoba, near Port Harcourt. The victim, Justina Otuene, a 300-level undergraduate also at UNIPORT, was studying Biochemistry. The state […]

The embattled deputy governor of Ondo State, Lucky Aiyedatiwa, has apologised to Governor Rotimi Akeredolu over the recent political crisis in the state. At a media briefing in Akure the state capital, Aiyedatiwa expressed regrets that negative reports that had trailed the crisis must have caused embarrassment to the governor in the last few months. […]

House of Representatives, on Thursday, summoned the controversial singer, Azeez Fashola popularly known as Naira Marley over allegations bothering on non-payment of proper compensation and royalties for late singer, Ilerioluwa Aloba (Mohbad) for his musical works. The resolution was passed by the joint House Committees on Justice, Youth and Legislative Compliance which convened to deliberate […]

*Alleges Plot to Vilify Obi, Party Leaders After Court Verdict With Thursday’s judgment of the Supreme Court affirming the electoral victory of President Bola Tinubu, the Labour Party (LP) claimed the legislative and judicial arms of government have been hijacked by the ruling All Progressives Congress (APC). At a press briefing hours after the apex […]