Kaduna Electric Offices Remain Open for Sallah

By Adedapo Adesanya President Bola Tinubu on Wednesday departed Abuja for Dubai, the United Arab Emirates, to attend the COP28 Climate Summit which takes place from December 1 —2, 2023, with the theme Unite, Act, and Deliver. According to the presidential spokesman, Mr Ajuri Ngelale, the President will be using the platform to advocate for funding as well as technical support to tackle the array of climate problems facing the country. He said Mr Tinubu was “mindful of the severe impact of climate change on Nigeria, such as desertification, flooding, erosion, drought, and national security risks arising therefrom, will maximise

By Adedapo Adesanya The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money. This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE). The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai. Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries

By Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Adedapo Adesanya President Bola Ahmed Tinubu has approved the indefinite suspension of Mr AbdulRasheed Bawa as the Chairman of the Economic and Financial Crimes Commission (EFCC) to allow for a proper investigation into his conduct while in office. In a statement on Wednesday, it was disclosed that the action followed “weighty allegations of abuse of office levelled against him.” Mr Bawa has been directed to immediately hand over the affairs of his office to the Director of Operations in the commission. The Director will oversee the affairs of the Office of the Chairman of the agency pending the conclusion

By Adedapo Adesanya The Flour Milling Association of Nigeria (FMAN) has said that it would establish wheat procurement centres across 15 Northern states of the country to off-take all grains from about 150,000 farmers under the Anchor Borrower Programme (ABP). This was disclosed by Mr Aliyu Samaila, FMAN’s National Programme Manager, Wheat Development Project, at the Green wheat farmers’ field day at Gawon-Bature near Dambatta Local Government Area of Kano state. According to Mr Samaila, the FMAN’s wheat programme was being implemented through the ABP of the Central Bank of Nigeria (CBN) and its beneficiaries include Kano; Kaduna; Jigawa; Kebbi;

By Modupe Gbadeyanka The Nigerian Army on Thursday reacted to a video purportedly released by leader of Boko Haram, Mr Abubakar Shekau, alleging that the Nigerian government’s claims that it chased them out of their stronghold in Sambisa Forest few days ago was a pure lie. On Thursday, Mr Shekau released a 25-minute video claiming he and his men were still in the forest. But in a swift reaction, the Army described Mr Shekau’s claims as “spurious” and “mere propaganda aimed at creating fear in the mind of people and to remain relevant.” “While effort is ongoing to subject the

By Dipo Olowookere A suicide bomber has attacked a mosque in Dalori quarters near the University of Maiduguri (UNIMAID), Borno State. This comes less than a month after suicide bombers attacked a mosque inside the institution, killing a Professor and three others. The bomber was said to have detonated the explosive device on Tuesday morning at a fence to the mosque because there are security vigilantes at the entrance to the worship centre. Apart from the suicide bomber, one other person was killed from the explosion. The identity of the attacker could not be ascertained, but there are reports that

By Aduragbemi Omiyale The chief executive of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, has described the deal signed between the bourse and MTN Nigeria in 2022 as a game-changer, saying it has successfully attracted younger investors to the capital market. Recall that in February 2022, both parties sealed a partnership aimed at using technology to offer financial securities to retail investors who had stayed away from the capital market. The two-year deal was sealed to promote financial literacy further and enhance retail participation in the Nigerian capital market. It was made to develop capital market solutions collaboratively, leverage

By Adedapo Adesanya The Naira depreciated against the Dollar at the different segments of the foreign exchange (FX) market on Thursday, February 2. The forex market came under pressure as customers continue to scamper for both local and foreign currencies following moves by the Central Bank of Nigeria (CBN) to mop up cash in the country, turning the tempo on the local currency. This led to losses in the value of the domestic currency against the US Dollar at the Peer-to-Peer (P2P), parallel market, and the Investors and Exporters (I&E) windows of the forex market. In the P2P market, the

By Dipo Olowookere Stanbic IBTC Bank Plc has promised to unlock business opportunities in the African Continental Free Trade Area (AfCFTA) agreement for its corporate and Small and Medium-sized Enterprises (SMEs) clients. The chief executive of the financial institution, Mr Wole Adeniyi, while speaking at a webinar recently, explained that this would be done by leveraging the trade opportunities in the deal. In 2018, countries on the continent came together to form a single market aimed to boost their respective economy, though it officially kicked off in January 2021 after a few postponements. Nigeria signed the AfCFTA in 2019, after

By Dipo Olowookere On Wednesday, August 19, 2020, the Debt Management Office (DMO) auctioned some Federal Government of Nigeria (FGN) bonds to investors at the local debt market. Business Post reports that the debt office approached the market with the government debt securities valued at N150 billion spread across four different maturities, receiving bids worth N242.3 billion. Details of the exercise released by the DMO showed that N25 billion worth of the reopening 10-year 12.50% FGN JAN 2026 bond, N40 billion worth of the reopening 15-year 12.50% FGN MAR 2035 bond, N45 billion worth of the reopening 25-year 9.80% FGN