Nigeria Records 8 New COVID-19 Cases, Total Hits 232

By Adedapo Adesanya The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, is not heading to the exit door despite speculations amid continued organisational changes to the management of the state oil company. In a statement on Monday night, it was stated that in “addition to the recent exit of three Executive Vice Presidents, other Management Staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023.” What this means is that the exit is happening downward since three Executive Vice Presidents were changed over the

By Adedapo Adesanya The two leading opposition presidential candidates in the 2023 general elections, Mr Atiku Abubakar of the Peoples Democratic Party (PDP) and Mr Peter Obi of the Labour Party, on Tuesday, approached the Supreme Court to upturn the judgment of the Presidential Election Petition Court (PEPC), which on September 6, affirmed Mr Bola Tinubu of the All Progressives Congress (APC) as winner of the exercise held on Saturday, February 25. Mr Atiku, in his Notice of Appeal predicated on 35 grounds, insisted that the tribunal, in the judgment delivered by Justice Haruna Tsammani, committed grave error and miscarriage

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 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 As part of efforts to boost agricultural value chain and local production, the Central Bank of Nigeria (CBN) has agreed to offer single-digit loans to rice farmers in the Niger Delta region. Seen as a motive that would crash prices of one of the most consumed food crops in the country, the apex bank would also work with key ministries to provide index insurance for participating farmers in the area. This was made known in a statement released by the Head, Press and Public Relations at the Ministry of Niger Delta Affairs, Mrs Patricia Deworitshe. The decision

By Dipo Olowookere The bulls extended their stay on the floor of the Nigerian Exchange (NGX) Limited on Wednesday, with 25 stocks enjoying investors’ patronage. The market appreciated by 0.74 per cent at the midweek session on the back of sustained bargain hunting as all the major five sectors closed in the green territory. The industrial goods sector appreciated by 1.33 per cent, the banking counter rose by 1.25 per cent, the insurance index gained 0.37 per cent, the consumer goods space improved by 0.28 per cent, while the energy index appreciated by 0.03 per cent. When trading activities were

By Dipo Olowookere The 36 states of the federation and the Federal Capital Territory (FCT) Abuja suffered a 1.93 per cent decline in the total internally general revenue (IGR) in 2020. This information was contained in a report released by the National Bureau of Statistics (NBS) on Friday, which was analysed by Business Post. In the report, the NBS said last year, the total IGR was N1.31 trillion, lower than N1.33 trillion recorded in 2019, with Lagos State accounting for N418.99 billion, closely followed by Rivers State with N117.19 billion and Yobe State recording the least IGR of N7.78 billion.

By Modupe Gbadeyanka The first international cargo flight landed at the Akanu Ibiam Airport Enugu State on Tuesday amidst funfair. During the historic event, Governor Ifeanyi Ugwuanyi, who was on ground to witness it, expressed his joy over the development. In his address, Mr Ugwuanyi said the event marks yet another very significant milestone in the history of aviation in Enugu State and indeed, the entire south east region. He reminded the gathering that three years ago, precisely on August 24, 2013, the first ever international passenger flight to Enugu operated by the Ethiopian Airlines landed at the same airport.

By Dipo Olowookere The management of eTranzact International Plc has announced the appointment of Mr Niyi Toluwalope as the acting Managing Director of the Africa’s premier e-payments solution provider. This followed the resignation of Mr Valentine Obi from the position. On Monday, May 21, 2018, eTranzact had announced that it would be making significant changes to its management team. Until his appointment, Mr Toluwalope was the Chief Financial Officer of the firm, a position he has held since 2011. Other executive positions affected by the management changes are: Executive Directors, Mr Sullivan Akala and Mr Ike Eze; Chief Technology Officer,

By Adedapo Adesanya The world’s largest cryptocurrency exchange, Binance, has announced plans to discontinue its crypto-backed debit card in Latin America and the Middle East, two of the world’s emerging markets. This is according to a post on X, formerly Twitter, by its customer support team on Thursday, but it did not specify when it would commence. According to crypto information platform Coindesk, the card service will be terminated in the Middle East tomorrow (Friday, August 25) and in Latin America on Thursday, September 21, but it did not provide a reason for the decision, though it reported that less

By Dipo Olowookere Trading resumed on the Nigerian Stock Exchange (NSE) on Monday bearish after the market shed 0.39 percent. This reversed the gains recorded last Friday when the market closed for the week. At the close of transactions yesterday, the year-to-date loss stood at 15.80 percent, mainly influenced by selloffs by investors, who are exiting as a result of political uncertainties and better investment returns at advanced markets. The All-Share Index (ASI) decreased by 125.61 points to close at 32,201.98 points, while the market capitalisation reduced by N46 billion to settle at N11.756 trillion. The Financial Services industry led

The Valley Forge Casino Resort has long been a popular destination for tourists and casino enthusiasts alike. The only such resort in Philadelphia, Valley Forge, was opened in 2012 and has welcomed many visitors through the years. However, the venue has been the scene of multiple incidents in recent months. More than enough to raise concern among authorities and customers alike. From counterfeit $100 bills to a potential lawsuit, this resort doesn’t seem to be getting a break lately. Continue reading to find out more about these odd events and others. Counterfeit $100 Bills Identified The story of counterfeit $100