Offa Robbery: Seven Suspects in Police Net

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 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 Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has filed a suit against President Bola Tinubu over his failure to stop the former governors now serving as ministers in his administration from collecting life pensions and other retirement benefits from their states. The ministers mentioned in the suit are Mr Badaru Abubakar, Mr Nyesom Wike, Mr Bello Matawalle, Mr Adegboyega Oyetola, Mr David Umahi, Mr Simon Lalong, Mr Atiku Bagudu and Mr Ibrahim Geidam. In the suit number FHC/L/CS/1855/2023 filed last Friday at the Federal High Court in Lagos, the ministers are to be joined in the suit

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Aduragbemi Omiyale The equity price of Fidson Healthcare Plc has been modified by the Nigerian Exchange (NGX) Limited with 25 kobo deducted from its previous closing price. The share value of the healthcare company ended on Wednesday, July 7, 2021, at N6.34 per unit but on Thursday, the stock opened at N6.09 per unit. The reason for the adjustment was because of the 25 kobo dividend recommended by the board of the organisation to be paid to shareholders. The qualification date for the cash reward was yesterday and as it is in the practice of the exchange, the value

By Adedapo Adesanya The Director-General of the National Information Technology Development Agency (NITD​​A), Mr Kasihfu Inuwa Abdullahi, has urged the Lagos State Ministry of Health to fully adopt the implementation of all provisions in the Nigerian Data Protection Regulation (NDPR) to protect the medical data of the residents of the state. Mr Abdullahi made the call yesterday in Lagos when he paid a working visit to the state Commissioner of Health, Professor Akinola Abayomi where the issue on Implementation of the NDPR for the Lagos Health Sector was discussed. Mr Abdullahi commended the Commissioner and his team on the proactive,

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange has recorded a year-to-date loss of 1.29 percent in the 21 weeks of trading this year. According to data gathered from the exchange by Business Post, the total volume traded year-to-date stands at 7,618,340,886.00 units in 568 deals valued at N7,459,326,983.88. Last week (Week 21), an overview of trades showed that NASD OTC Securities Exchange closed negative with the NASD Securities Index (NSI) down by 0.7 percent to 688.51 points from 693.94 points it ended in the preceding week (Friday, May 15, 2020). In addition, in the 21st trading week of

By Adedapo Adesanya  The House of Representatives on Wednesday passed the 2020 revised budget, increasing the proposed sum to N10.8 trillion. Initially, President Muhammadu Buhari had sent a budget estimate of N10.5 trillion to the lawmaker, but members of the lower chamber of the National Assembly bumped this up by an extra N296 billion. The new budget is also N211 billion higher than the N10.6 trillion passed by the legislature in December 2019 before it was revised to N10.5 trillion against the backdrop of the COVID-19 pandemic. Though the report of the Committee on Appropriation had provided N10.801 trillion for

By Adedapo Adesanya The Naira appreciated against the American Dollar on Wednesday at the Peer-2-Peer (P2P) arm of the foreign exchange (FX) market by N1 to close at N759/$1, in contrast to the N760/$1 it was traded on Tuesday. However, in the Investors and Exporters (I&E) window, the Nigerian currency depreciated against its United States counterpart by 40 Kobo or 0.09 per cent to settle at N461.90/$1 compared with the previous day’s rate of N461.50/$1, according to data obtained from FMDQ Securities Exchange. Transactions data for the midweek trading day showed that the value of forex traded in the spot

By Bliss Okperan The National President of the Academic Staff Union of Universities (ASUU), Prof Emmanuel Osodeke, has warned the rising school fees of tertiary institutions in Nigeria could backfire in the future if nothing is done by the federal government to stop it. Speaking on Channels TV Sunday Night, the union leader said in two years’ time, about 40 to 50 per cent of students in universities across the country could drop out of school because of their inability to pay the high fees. The don urged the federal government to stop the arbitrary increment in school fees by

By Aduragbemi Omiyale NG Clearing Limited, a company incorporated on May 24, 2016, to facilitate derivatives trading in the Nigerian capital market, has been given the licence to operate as a central counterparty (CCP). The authorisation was given by the Securities and Exchange Commission (SEC), the apex regulatory agency in the Nigerian capital market and this licence became effective Monday, June 7, 2021. With the registration to perform the function of a CCP, NG Clearing becomes the first organisation to carry out this duty in the country. It means the firm has the authority to clear and settle exchange-traded derivative

By Modupe Gbadeyanka The 2016 economic challenges experienced in Nigeria may have taken its toll on Unity Bank Plc as the financial institution, during the year, suffered a slump in its post-tax profit by 53.4 percent. In the audited financial statements released by Unity Bank on Wednesday for the year ended December 31, 2016, the bank declared a drop in its profit after tax to N2.184 billion from N4.689 billion in 2015. In the vein, its profit before tax depreciated to N1.816 billion in the year under review in contrast to N2.343 billion it declared 12 months earlier. But the