Adegoke’s Murder: Court Sentences Ife Hotelier Rahman Adedoyin to Death

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Adedapo Adesanya An initiative to boost youth employment and shore up Nigeria’s foreign exchange (FX) earnings has been introduced by the Nigerian government. The scheme, the National Talent Export Programme (NATEP), was unveiled over the weekend at the Microsoft Office in New York, United States of America by the Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite. She said the programme would position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines. Mrs Uzoka-Anite noted that NATEP is a key national initiative that will serve as a

By Adedapo Adesanya The House of Representatives has urged the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) to urgently provide funds for the completion of the Okpai–Kwale Transmission Line Project in Delta State. At the plenary on Tuesday, the lower chamber of the parliament mandated its Committee on Power to ensure that bottlenecks mitigating against the completion of the project are effectively addressed and the project is completed in due time. This followed a motion moved by Mr Nnamdi Ezechi, the lawmaker representing Ndokwa/UKwuani Federal Constituency in the National Assembly on the floor of the green

By Adedapo Adesanya  The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation with expectations that they will attend to correspondences from President Bola Tinubu. The upper chamber adjourned for a six-week annual recess on August 17 after confirmating 45 out of the 48 ministerial nominees of President Tinubu. The Senate President, Mr Godswill Akpabio, also announced the composition of 74 standing committees on that day. Upon resumption, the Senate will commence its legislative duties by attending to correspondences from the President requesting the confirmation of some appointments he made. The appointments include those

By Modupe Gbadeyanka Former MD/CEO of AMCON, Mr Mustafa Chike-Obi, has been appointed as the new Chairman of Fidelity Bank Plc. Mr Chike-Obi is occupying the position following the stepping down of Mr Ernest Ebi from the seat with effect from August 14, 2020. A statement from the lender disclosed that the appointment of Mr Chike-Obi has been approved by the Central Bank of Nigeria (CBN). Mr Ebi, who has been serving as Chairman of the board of directors of Fidelity Bank, is expected to leave the post in compliance with the bank’s internal governance policy. Also, it was stated

By Dipo Olowookere In the latest charts released by a leading streaming platform, Spotify, Grammy winner, Burna Boy and a new kid in the bloc, Asake, are in charge, with the former retaining his ranking on the Top Artists log as the longest artist for the 17th week. However, 1da Banton was the biggest climber in the week after taking 55 steps to number 74, while Niniola has the slot of the highest new entry at number 178. As for the top five, Burna Boy was on top, followed by Post Malone, Davido, Asake and Kizz Daniel in that order.

By Adedapo Adesanya Former Governor of Abia State, Mr Orji Uzor Kalu, has been found guilty of a N7.65 billion fraud by a Federal High Court sitting in Lagos on Thursday.  At the ruling this morning, the court said Mr Kalu, who is now a member of the upper legislative chamber of the National Assembly, committed the fraud when he ruled the south east state between 1999 and 2007. He was found guilty alongside two others; his firm, Slok Nigeria Limited and Udeh Udeogu, who was Director of Finance and Accounts at the Abia State Government House during Mr Kalu’s

By Dipo Olowookere The president of the Institute of Chartered Accountants of Nigeria (ICAN), Mrs Comfort Eyitayo, has charged the Nigeria Deposit Insurance Corporation (NDIC) to ensure it constantly reassures depositors of the safety of their funds in financial institutions. Mrs Eyitayo made this call when she led her team to the office of the Managing Director/Chief Executive Officer of NDIC, Mr Bello Hassan, in Abuja. She said this was necessary as it would boost the confidence of depositors in the nation’s financial system, which will also send a positive signal to foreign investors on the financial stability of the

By Adedapo Adesanya President Muhammadu Buhari has inaugurated the Special Purpose Vehicle (SPV) for Presidential Power Initiative to assist the government in improving the delivery of power in the country. Members of the committee inaugurated by Mr Buhari include the Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN); the Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed; Minister of Power, Mr Saleh Mamman; and Minister of Works and Housing, Mr Babatunde Fashola. A statement by Mr Umar Gwandu, the spokesperson of the Minister of Justice/Attorney General, said the committee was constituted on Thursday by

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks poised to add to the modest gains posted in the previous session. So-called window dressing may contribute to early strength on Wall Street, as investors look to polish their portfolios going into the end of the year. Nonetheless, many traders are likely to remain away from their desks ahead of the New Year?s weekend, leading to another light trading day. After ending Tuesday?s session modestly lower, stocks turned in another lackluster performance during trading on Wednesday. The major averages fluctuated over the

By Modupe Gbadeyanka Management of the Nigerian National Petroleum Corporation (NNPC) has advised members of the public to “disregard any announcement of recruitment or invitation to recruitment interview” because at the moment, “it is not carrying out any recruitment exercise” as being claimed by some. “We are constrained to announce, once again, that NNPC is not recruiting at the moment. Members of the public are, therefore, advised to disregard any vacancy announcement on any online or social media platform as they are  the handiwork of fraudsters intent on fleecing innocent Nigerians,” a statement issued by the Group General Manager, Group

By Adedapo Adesanya Oil prices traded at their lowest in three weeks dropping 3 per cent, impacted by the growing concern of supply from the United States and Iran while coronavirus cases continue to increase in Asia. Brent crude saw its value lose $2.04 or 2.97 per cent to trade at $66.67 per barrel, while the West Texas Intermediate (WTI) crude futures lost $2.08 or 3.18 per cent to sell at $63.41 per barrel. The supply fears came as weekly data from the Energy Information Administration (EIA) showed an increase in crude inventories in the largest oil producer, the US,