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Associated Property Development Company Ltd on Friday recovered possession of 2A Osborne Road, Ikoyi, Lagos following an order of the Federal High Court sitting in Lagos. The order was made on September 13 by Justice Akintayo Aluko against six defendants/respondents – who were in alleged unlawful occupation – following an ex parte application by the […]

Yield on T-Bills Steadies After Higher Spot Rates Offer Trading activities in the Nigerian Treasury bills secondary market were quiet, as the average yield remained at 8.0%. Similarly, the average yield was unchanged at 13.3% in the OMO bills segment. Spot rates on Nigerian Treasury bills rose at the primary market auction conducted by the […]

Resources: Nigeria Has No Business Being Poor – Tinubu President Bola Tinubu, on Thursday, said Nigeria had no business being poor, having been blessed with enormous human and natural resources across the country. In a statement by Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, on Thursday in Abuja, Tinubu […]

Tinubu Appoints Zacch Adedeji as Acting Chairman of FIRS President Bola Tinubu has appointed Zacch Adedeji, his Special Adviser on Revenue, as the new acting Chairman of the Federal Inland Revenue Service (FIRS) This was contained in a Thursday statement by the Special Adviser to the President, Ajuri Ngelale, saying the erstwhile FIRS Chairman, Muhammad […]

Naira: Nigeria Back to Square One as FX Gap Hits N170 The Central Bank of Nigeria (CBN) may be back to square one as the gap between exchange rate quotes between the organised market for Investors and Exporters and the parallel market widened further. Now, there is N170 gap between the exchange rate of N780 […]

Electricity: Grid Restoration at Advanced Stage – TCN The Transmission Company of Nigeria (TCN) has said that the national grid restoration nationwide has reached advanced stages. This is contained in a statement issued by Mrs Ndidi Mbah, TCN General Manager on Public Affairs in Abuja. The company said that power supply has been restored to […]

Earthquake: Coca-Cola to Support Morocco with $1.4m The Coca-Cola system has committed $1.4 million to relief efforts in Morocco following the recent earthquake. The Coca-Cola Foundation has also donated $1 million to the International Federation of Red Cross and Red Crescent Societies (IFRC), and $200,000 from a previously approved grant to CARE was deployed to […]

EIB, COFINA to Boost Agriculture in Côte d’Ivoire, Senegal Compagnie Financière Africaine (COFINA) in Côte d’Ivoire and Senegal and the EIB signed today a memorandum of understanding with the support of the European Commission to boost the development of sustainable agricultural value chains. The ceremony took place at the EIB Academy dedicated to SME banking […]

Selloffs in GTCO, Nestle Drag NGX Down By N36bn Selloffs on shares of GTCO, and Nestle Nigeria among others drag the Nigerian Exchange (NGX) lower by N36 billion, according to the record of transactions conducted in the local bourse on Thursday. The Nigerian equity market closed trading activities for today bearish, reversing the previous day’s […]

Oil Prices Back to 10-Month High After EIA Warning Oil prices are back to a 10-month high on Thursday as concerns over tightening oil supply gained ground over heightened demand fears caused by a rise in US crude stockpiles. Oil prices remain well supported by expectations of a tighter market, ING commodities strategists Warren Patterson […]

Capt. Olayiwola Becomes First Chartered Master Mariner in Africa Nigeria’s Capt. Kunle Olayiwola has been decorated as a Chartered Master Mariner, making him the first African to achieve the feat. Retired Commodore Duncan Lamb, Chairman of the Registration Authority, disclosed this in a statement on Thursday in Lagos. The award is a recognition given to […]

The Benue State Police Command has arraigned a 20-year-old man, Aondoaseer Agbadu, at the Magistrate Court on Thursday over conspiracy on organ harvesting. Agbadu and others were reported to have deceived a 17-year-old, Terungwa Swati to Abuja, where one of his kidneys was harvested without his consent or that of his parents. Other accused were […]