Oyo Seals Houses, Shops Over Unhygienic Practices

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

By Adedapo Adesanya President Bola Ahmed Tinubu on Tuesday ordered an investigation after the army acknowledged one of its drones accidentally struck Tudun Biri village as residents were celebrating a Muslim festival. The army did not give any casualty figures, but residents claimed 85 of them, who were mainly women and children, died in the attack, which has sparked public outrage. On its part, Amnesty International’s Nigeria office said 120 people were killed in the attack, citing reports of its workers and volunteers in the area. But the North-West zonal spokesperson of the National Emergency Management Agency (NEMA), Mrs Halima

By Modupe Gbadeyanka The Nigerian Army has claimed responsibility for the killing of some villagers of Tudun Biri in Kaduna in an air strike. Reports earlier went viral that operatives of the Nigerian Air Force bombed the villagers during a Maulud celebration but authorities of the air force debunked the reports, saying its men were never involved in such. However, the Nigerian Army has said it was involved in the bombing, which it said was a mistake because it was going after some terrorists in the area. The Kaduna State government, in a statement issued on Monday by its Overseeing

By Bliss Okperan The Tincan Island Port (TCIP) Command of the Nigeria Customs Service (NCS) has created a mobile application to automate its bond and license unit, Transire. At the unveiling of the app on Thursday, the Customs Area Controller, Comptroller Dera Nnadi, said the need to automate the Bond and License Unit had become imperative for administrative and procedural ease of doing business in the command. Speaking at a sensitization program on the automation process, Mr Nnadi informed participants that the application was developed by Superintendent of Customs Samuel Bello, to reduce the volumes of documents being deployed in

By Dipo Olowookere About $129 billion was raised from bond launches in the first half of 2018 by emerging market governments, Business Post has learnt. Quoting UK-based Financial Times, analysts at FBNQuest Research, in their daily Good Morning Nigeria report of July 31, 2018 titled Eurobond market in good health, disclosed that more would still be likely raised before the end of this year. Curiously, the average life of the new debt has increased by about seven years from last year while the rating has fallen. The boost to the average life can be explained in part by the maiden

By Investors Hub major U.S. index futures are pointing to a lower opening on Thursday on the heels of the release of a report from payroll processor ADP showing weaker than expected private sector job growth in the month of June. Geopolitical concerns may also weigh on the markets, although traders may be somewhat reluctant to make any significant moves ahead of the release of the Labor Department’s closely watched monthly jobs report on Friday. Following the fourth of July holiday on Tuesday, stocks turned in a lackluster performance during trading on Wednesday. While the Dow edged down 1.10 points

By Adedapo Adesanya For yet another month, Nigerian crude oil production fell in January 2022 as the country produced 1.5 million barrels per day, 180,000 barrels per day lower than what it is permitted to supply to the global market, though its production last month was the highest in five months. Nigeria’s January output marked a recovery from the fourth quarter of last year when production was hit by a number of sabotage incidents and infrastructure issues. The Organisation of the Petroleum Exporting Countries (OPEC), which Nigeria is a member, saw its crude production increase again last month but the

By Adedapo Adesanya It was a mixed bag for the Naira at the Peer-2-Peer (P2P), black market and the Investors and Exporters (I&E) arms of the foreign exchange (FX) market on Friday, April 14. Data indicated that the domestic currency closed stronger against the greenback in the first two market segments but was weakened in the third market window. In the P2P category of the forex market, the value of the local currency was fortified against its American counterpart yesterday by N2 as it finished at N748/$1 compared with the previous day’s value of N750/$1. Also, in the parallel market,

By Ehiedu Iweriebor In the period since independence in the 1950s, Africa has undergone profound social, cultural, economic and political changes. Some inherited and historically rootless colonialist political and social systems have collapsed, been transcended and reconstituted. Different political systems – single party rule, personal rule and military governments have come and gone. New post-independence political and social systems; economic institutions, professional associations and labour unions, various types – traditional and new and varied cultural expressions have all emerged. Creative efforts to foster effective nation-building, develop a sense of belonging and manage diversity productively have also been made. New political

By FBNQuest Research The DMO’s medium-term strategy for 2016-19 has a target for a 60/40 mix for the FGN’s domestic and external debt obligations. Over the four years through to December 2016, the ratio has moved ten percentage points towards the target, to 76/24. This move is due more to naira exchange-rate depreciation than changes in the currency of issuance. Our chart does not capture the DMO’s latest data release for end-June 2017, which is partial and includes the naira debt of state governments in the domestic total.  H1 2017 saw the return of the FGN to the Eurobond market

By Modupe Gbadeyanka Activities of profit-takers on the floor of the Nigerian Stock Exchange (NSE) further left the market in the red territory today, Business Post is reporting. At the close of business on Tuesday, the stock market closed 0.46 percent lower, driving the year-to-date return down further to 40.59 percent. The All-Share Index (ASI), after the transactions ended at the NSE, went down today by 174.20 points to close at 37,783.76 points from 37,957.96 points yesterday, while the market capitalisation decreased by N62 billion to finish at N13.446 trillion from N13.508 trillion on Monday. Also, the volume shares transacted

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