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The Ondo State House of Assembly has stated that it is following the necessary due process in investigating the allegations made against Deputy Governor Lucky Aiyedatiwa. The Assembly clarified that serving the allegation letter to Aiyedatiwa did not amount to an impeachment verdict and that the deputy governor has the right to defend himself. In […]

Minister of Federal Capital Territory (FCT) Nyesom Wike has revoked 165 lands belonging to notable Nigerians in Abuja. According to a document signed by the FCT Permanent Secretary, Olushade Adeshola made available to The Nation, the revocation was due to the violation and contravention of the terms of development of the Right of Occupancy. The […]

Energy Transition: Global Leaders Dump Nigeria’s $10bn Investment Target Global leaders have reneged on their promises to invest $10 billion dollars in Nigeria’s energy transition plan targeted to achieve net zero emission, according to Gabriel Aduda, the Permanent Secretary of the Ministry of Petroleum Resources. Aduda expressed concern over the failure of global leaders to […]

NDDC Initiates Plan for Job Creation in Oil Producing Region The Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku has said that the commission was working towards creating job opportunities for youths in the region. Ogbuku said this while addressing the Chairman of the Nigerian Young Professionals Forum (NYPF) and Convener […]

Reps Question NPA for Sale of 16 Vessels at N156m, 45m Items at N1 Each An ad-hoc committee of the House of Representatives is quizzing the Nigeria Ports Authority (NPA) over the sale of 16 vessels for N156.24 million in 2019. Among the vessels were ML Pategi sold at N3.2 million; ML Misau sold at […]

CBN Begins Online License Application, Approval for MfBs The Central Bank of Nigeria (CBN) has unveiled a new online platform for the submission of licence applications by microfinance banks. Its Director of Corporate Communications, Mr Isa AbdulMumin, said the platform, known as the CBN Licensing, Approval and Other Requests Portal (CBN LARP), would be the […]

Veritas Kapital Records N2.7bn Net Premium Veritas Kapital Assurance has announced Net Premium Income of N2.699 billion for the 2022 financial year, which translate to a marginal one per cent growth compared to N2.675 billion in 2021. The Chairman of the Board of Directors of Veritas Kapital, Mr Nahim Ibraheem, said this on Tuesday  Abuja […]

Arik Airline will Return to the Owner if Reasonable Debt is Paid-AMCON The Assets Management Corporation of Nigeria (AMCON) has advised the Chairman of Arik Air, Johnson Arumemi-Ikide, to present a reasonable debt recovery plan in order to recover the airline. The Managing Director of AMCON, Mr Ahmed Kuru, gave the advice at a media […]

US Fed Rate: Nigeria U.S Dollar Bonds Face Sell Pressure Nigeria Eurbonds face sell pressures in the secondary market amidst uncertainties, a stronger United States (US) dollar and a market expectation that Federal Reserves would likely maintain the status quo at the FOMC meeting midweek. A growing number of foreign portfolio investors (FPIs) in the […]