Apprehension as Sokoto Shuts Down Telco Services

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Adedapo Adesanya The Norwegian Floating Production Storage and Offloading (FPSO) leasing firm, BW Offshore, has closed the transaction for the sale of the Nigerian vessel, Abo FPSO, after several short-term charter extensions for $20 million. FPSO refers to a floating vessel located near an offshore oil field, where oil is processed and stored until it can be transferred to a tanker for transporting and additional refining. BW Offshore closed the transaction for the sale of Abo FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC). As part of the transaction, BW Offshore has entered

By Adedapo Adesanya President Bola Tinubu on Monday asked South African companies to consider investing in the Nigerian solid minerals development sector, promising them a conducive environment. Mr Tinubu made this call when he held talks with his South African counterpart, Mr Cyril Ramaphosa, in New York City ahead of the United Nations General Assembly (UNGA). According to a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, the Nigerian leader advanced his economic development diplomatic drive for investment attraction during the engagement. He told Mr Ramaphosa that, “South African mining industries have a

By Bliss Okperan The New Nigeria Peoples Party (NNPP) has accused a former presidential candidate of the party, Mr Rabiu Kwankwaso, of being responsible for the sacking of the Governor of Kano State, Mr Yusuf Abba, at the Governorship Election Petitions Tribunal on Wednesday. A three-man panel led by Justice Oluyemi Akintan-Osadebay removed Mr Abba as Governor, ordering the Independent National Electoral Commission (INEC) to hand the Certificate of Return to the candidate of the All Progressives Congress (APC) in the poll, Mr Nasir Gawuna. Reacting to the development, a chieftain of NNPP in Southwest, Mr Abass Akande Onilewura, alleged

By Dipo Olowookere General Manager of the Lagos State Parks and Gardens Agency (LASPARK), Mrs Bilikiss Adebyi-Abiola, has charged residents of Lagos to imbibe the culture of greening by adorning the frontage of their residences with plants and flowers in order to promote and sustain a safe and healthy environment. Speaking on the popular Yoruba programme ‘Gbagede Oro’ on Radio Lagos 107.5FM, Mrs Adebiyi-Abiola stated that a clean and beautiful environment adorned with trees, plants and flowers adds aesthetic value, noting that Lagosians have a sacred responsibility of enhancing the beauty of their natural environment. The General Manager, represented on

By Adeniyi Ogunfowoke Flying is an exciting experience. You simply buy your ticket, advance to the airport as early as possible and then you board at the appropriate time. However, things do not go always go the way you plan. Your schedule may change or the weather may stop you from flying. In this case, you will be left with no choice than to change your flight ticket. Changing your flight ticket is not rocket science as some flyers make it seem like. Jumia Travel, the leading online travel agency, shares easy hacks for changing your flight ticket. Choose a

By Adedapo Adesanya Oil settled higher on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Brent crude went up by $1.07 or 1.3 per cent to close at $82.73 per barrel, while the US West Texas Intermediate (WTI) crude moved up by 89 cents or 1.1 per cent to trade at $78.76 per barrel. Last week, both contracts fell more than 5 per cent for their first weekly declines. Now, the market has looked to China, with the largest economy still not as strong after it

By Adedapo Adesanya The Federation Accounts Allocation Committee (FAAC) shared the sum of N640.310 billion to the three tiers of government for January. The Director of Information, Ministry of Finance, Budget and National Planning, Mr Hassan Dodo, made this known in a communique issued at the end of a virtual conference of FAAC on Thursday. The committee in its communique explained that the amount shared by the federal government, states, local government areas (LGAs) and different agencies, which received the cost of collection of the revenue. It noted that N640.310 billion shared included cost of collection to Nigeria Customs Service

By Aduragbemi Omiyale The $4 billion Eurobond issued to offshore investors last year by Nigeria has been taken to the Nigerian Exchange (NGX) Limited for trading at the secondary market. The bond was issued in 2021 by the Debt Management Office (DMO) to raise funds to support the fiscal year’s budget deficit. Last week, the debt office took the debt instrument to the FMDQ Securities Exchange for listing, giving investors, especially those in the domestic end, who missed the opportunity to buy the paper, to buy through the secondary market. Business Post reports that the Dollar-denominated bond was listed on

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed Tuesday’s trading session with a negative movement. At the second session for the week, the NASD Unlisted Securities Index (NSI) fell by 0.73 percent equivalent to 5.22 points to end the day at 711.74 points compared to 716.96 points recorded at the previous session on Monday. Also contracting was the market capitalisation, which depreciated by 0.73 percent or N3.83 billion to N522.82 billion as against the previous level of N526.65 billion. This contraction at the market yesterday was caused by a drop in the share price of the market’s only

By Dipo Olowookere More than 3,500 children, most of whom were aged 13 to 17, were recruited by non-state armed groups like Boko Haram between 2013 and 2017 and have been used in the ongoing armed conflict in northeast Nigeria, UNICEF said today ahead of the fifth anniversary of the Chibok abduction. The UN children’s agency said that these numbers are only those that have been verified, while the true figures are likely to be higher. In addition to these children, 432 children were killed and maimed, 180 were abducted, and 43 girls were sexually abused in north-east Nigeria in

By Adedapo Adesanya The Naira was stable against the US Dollar across all the segments of the forex exchange (FX) market on Friday, January 15. The local currency, at the Investors and Exporters (I&E) window, traded flat against the greenback to finish N394.67/$1, the same rate it was sold on Thursday. At the same market window yesterday, the pressure on the domestic currency eased as the turnover for the session reduced by 81.3 per cent or $175.32 million to $40.31 million from the previous day’s $215.63 million, according to data obtained by Business Post. Equally, at the Bureaux De Change