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FG to Raise $800m World Bank Loan The Senate approved $800 million World Bank loan request by President Bola Tinubu. The lawmakers’ approval followed the consideration of the loan by the Committee during Thursday’s plenary. Recall that former President Muhammadu Buhari had, towards the tail end of his administration, forwarded same request to the 9th […]

NGX Sees Large Daily Loss as Banking Stocks Plunge The Nigerian exchange failed to reverse the negative trend as banking stocks plunged further. The stock market lost about N707 billion, causing year-to-date return to moderate. In two days, the exchange lost about N1.6 trillion to investors’ bearish mood. Market data showed that Thursda’s pullback was […]

China’s Exports Slump by More than 12% in June Chinese foreign trade slumped more than 12 percent in June, the customs authority in Beijing announced on Thursday. Exports were down by 12.4 percent year-on-year to around $285 billion, they said. At the same time, imports by the world’s second-largest economy fell by 6.8 percent to […]

Germany’s Foreign Minister Warns Companies Against China Dependencies German Foreign Minister Annalena Baerbock warned German companies to avoid one-sided dependencies on Chinese buyers or suppliers and to reduce such dependencies where they exist. Germany must focus more on its economic security and avoid the risk of being overly reliant on China, Baerbock said at an […]

PTAD Explains Reasons for Staggering Pension Online Verification The Pension Transitional Arrangement Directorate (PTAD) says staggering “I am Alive Confirmation Solution” for pensioners’ verification is to avoid network failure. Dr Chioma Ejikeme, Executive Secretary, PTAD, gave the explanation at the South-East Stakeholders Engagement Forum on Thursday in Awka. Ejikeme said the agency came up with […]

Nigeria Needs an Industrial Revolution, Says Adesina The African Development Bank (AfDB) has called on President Bola Tinubu’s administration to set the right pathway to prosperity for Nigeria. The AfDB President, Dr Akinwumi Adesina, said this while delivering a keynote at the Business Day Chief Executive Officers (CEO) Forum in Lagos. The title of the […]

Reps to get N70bn Allocation From Tinubu’s N819bn Palliative The House of Representatives is to get  N70 billion allocation from President Bola Tinubu’s N819 billion palliative meant to cushion the effect of fuel subsidy on Nigerians. The amount according to the President’s letter sent on July 12 and read by the Speaker, Rep. Tajudeen  Abbas, […]

Taraba Government to Secure N150bn Loan From 6 Consortiums The Taraba Government has begun negotiations with a consortium of six Nigerian banks to secure a facility worth N150 billion naira for projects. Gov. Agbu Kefas of Taraba made this known while presiding over the negotiation process with representatives of the banks in Abuja. Kefas said […]

The Federal Government has faulted the irregular practice of state governments establishing ministries and departments of Labour, and implementing parallel guidelines and policies to those developed at the federal level. This was disclosed in a statement issued by the ministry’s Spokesperson, Olajide Oshundun. According to the statement, the Permanent Secretary, the Labor Ministry, Kachallom Daju, […]

A Kano High Court has restrained the state government from demolishing structures marked for demolition allegedly sited on ancient city walls on BUK road Hafsat Yahaya, the presiding judge, granted the interim order on Tuesday while ruling on an ex parte application filed by one Bashir Albasu and 19 others. The defendants are the governor […]

Governor Sheriff Oborevwori of Delta State on Thursday called on judges in the country to be guided by the doctrine of fair hearing, equity and good conscience in the discharge of their duties. Oborevwori urged judges to guarantee justice for all by maintaining a high level of personal probity, devoid of greed and ensuring that […]

By Raymond Nkannebe There is a sense in which the Nigerian situation now gives full expression to the Marxian Theory of Law even if unbeknownst to many of the stakeholders and the masses themselves. In Karl Marx’s seminal work- The Communist Manifesto and in the essay “On the Jewish Question” co-authored by his ideological brother […]