BREAKING: Boko Haram Attacks Goniri Community in Yobe

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 Bliss Okperan The Sokoto State Election Petition Tribunal will on Saturday, September 30, 2023, deliver a judgement on the petition filed by the candidate of the Peoples Democratic Party (PDP) in the governorship election in the state, Mr Sa’idu Umar. Mr Umar challenged the victory of the Governor of Sokoto State, Mr Ahmed Aliyu, who contested the poll under the platform of the All Progressives Congress (APC). He said Mr Aliyu was not qualified to partake in the poll and also alleged electoral fraud during the March 18 governorship election. In a press release, the court stated that, “Take

By Modupe Gbadeyanka The 12-year-old boy with missing intestines, Adebola Akin-Bright, who has been receiving treatment at the Lagos State University Teaching Hospital (LASUTH), Ikeja, has died. Adebola died on Tuesday evening, according to reports. He was to be flown abroad for an intestine transplant to get him back to normal before he breathed his last today. Adebola had surgery at a private hospital in the Alimosho area of the state known as Obitoks Medical Centre, but it was later discovered that his intestines were missing. The Lagos State House of Assembly had on Tuesday asked Governor Babajide Sanwo-Olu to

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 Modupe Gbadeyanka A new multi-currency mobile app, straitPay, has been introduced to offer customers in Nigeria, Ghana and the United Kingdom a simplified approach to holding various African currencies, ensuring the ability to transmit and transact directly across the continent in a matter of minutes. In a statement issued by the developers of the initiative, straitPay is tailored for global customers who wish to spend and purchase items directly in Africa from the comfort of their smartphone. New customers can open a multi-currency wallet with no hidden costs and are able to spend and invest via the straitPay mobile

By Dipo Olowookere There are strong indications that shareholders may consider going to court to stop the Securities and Exchange Commission (SEC) from moving unclaimed dividends of 12 years to the proposed Nigerian Capital Market Development Fund (NCMDF). The SEC had said some days ago that it was planning to amend the law to make it mandatory for unclaimed dividends to be transformed to the NCMDF. According to ThisDay, some shareholders are already planning to get a court order to stop the move. The Companies and Allied Matters Act (CAMA) provides that unclaimed dividends for 12 years are statute barred

By Ezedi Udom Containment remains the most viable response strategy to the escalating Coronavirus pandemic until there’s a cure. However, the increasingly negative health, social, economic, financial and humanitarian impacts of COVID-19 are already seen as clear pointers to a probable global recession, if not halted. Many countries including Nigeria are already in a recession panic mode. But, surprisingly, respected global institutions like the World Trade Organisation (WTO) have assigned the critical role of steering consumers and businesses especially micro, medium and small enterprises (MSMEs) out of likely downtime to e-commerce and logistics operators like Jumia. The WTO in a

  Publisher of popular www.abusidiqu.com, Abubakar Sidiq Usman, has finally been released by the Economic and Financial Crimes Commission (EFCC). Mr Usman was let go by the EFCC on Tuesday evening after spending over 24 hours in their custody. The political blogger was arrested on Monday morning by the anti-graft agency at his Abuja residence. He was reported to have published a story on the EFCC bordering on corruption. But the Commission later issued a statement that Mr Usman was apprehended for cyber stalking. After his arrest, some social media activists launched a campaign for his freedom and also accusing

By Modupe Gbadeyanka Nigeria’s central bank has added an additional $196.2 million into the foreign exchange market as part of its intervention. It was gathered that on Tuesday, the nation’s chief bank offered $100 million to authorized dealers at Tuesday’s forex wholesale auction. Last month, the apex bank increased allocation to authorised Bureaux De Change (BDC) operators to $20,000 per auction for two times a week; Tuesdays and Thursdays. According to spokesman of the Central Bank of Nigeria (CBN), Mr Isaac Okorafor, the sum of $44.2 million was released for invisibles such Personal Travel Allowance (PTA), Basic Travel Allowance (BTA),

By Reuben Abati People tend to be alarmed when the Nigerian Presidency takes certain decisions. They don’t think the decision makes sense. Sometimes, they wonder if something has not gone wrong with the thinking process at that highest level of the country. I have heard people insist that there is some form of witchcraft at work in the country’s seat of government. I am ordinarily not a superstitious person, but working in the Villa, I eventually became convinced that there must be something supernatural about power and closeness to it. I’ll start with a personal testimony. I was given an

By Meristem Research The Nigerian equities market closed in the negative zone last week, as the NSEASI dropped 1.12% to pull the Year-to-Date return to 36.57%. Twenty stocks advanced while 42 declined, pegging the market breadth at 0.48x. AGLEVENT was the top gainer in the week, after advancing by 27.70% to close at NGN0.70. In contrast, CAVERTON shed 21.43% of its value to close at NGN1.32. While the significant trade on DANGCEM drove the market to a positive close on the first day, notable sell-offs on large cap stocks during subsequent days of trading, especially in the consumer goods space,

By Dipo Olowookere The decision of the management of Transcorp Hotels Plc to design a digital platform called Aura has been applauded by Vice President Yemi Osinbajo. At the launch of the app on Thursday in Abuja, Mr Osinbajo said the initiative will help revive Nigeria’s hospitality industry in general, especially in the aftermath of the COVID-19 global pandemic as it will provide a major avenue for other small businesses in the value chain to grow. “This is an excellent innovation, a service that leverages smoothly on technology and one that will be a tremendous boost to the hospitality industry