We Are Ready to Give Nigerians Free Power Supply—Discos

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 The President of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, has been recognised with the Forbes Africa magazine 2023 Person of The Year award. At a well-attended award ceremony in Cairo, which also included the unveiling of the cover for Forbes Africa’s December 2023/January 2024 edition featuring Mr Oramah as cover personality, Mr Rakesh Wahi, Forbes Africa Founder and Publisher, and Ms Roberta Naicker, Managing Director, said that the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

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 Modupe Gbadeyanka The Nigerian Air Force (NAF) has said it has launched an investigation into the alleged bombing of Nigerian soldiers fighting Boko Haram members in Borno State. It was reported that on Sunday, the Nigerian Air Force launched an airstrike on soldiers decimating some insurgents in Mainok, which is close to Maiduguri, the Borno State capital, leading to the death of more than two dozens of soldiers. It was alleged that the military forces fighting from the air accidentally killed the colleagues fighting the terrorists from the land thinking they were members of Boko Haram. A video also

By Walter Duru In modern democratic societies, the legislature performs three conventional functions of representation, law-making and oversight responsibilities. The 1999 Constitution of the Federal Republic of Nigeria (as amended) has provided the legislature in different sections, the powers to perform these functions at both the central and state levels. The legislature controls through legislation, all economic, social and political activities of the state or country. It also scrutinizes the policies of the Executive and provides the framework of the judiciary to operate. Contrary to the above norm, in Imo State, there are three arms of Government – the Executive,

By Dipo Olowookere A bank is a financial institution that accepts deposits, which could be in form of cash or valuables, from the public with intention of keeping them safe for the owners. However, when an institution that is supposed to be the safest place to keep valuables is riddled with stories of alleged fraudulent activities, then one must begin to wonder if the hard-earned deposits in their care are still safe. Early this year, a report by the Nigeria Deposit Insurance Corporation (NDIC) had revealed that the number of employees of banks operating in Nigeria involved in malpractices in

By Adedapo Adesanya  PAC Capital Limited has assured its clients of high-quality advisory and fund arrangement services that will enhance their growth and expansion prospects. The firm made this assurance after its role as the lead financial adviser and fund arranger to Access Holdings Plc’s $300 million investment finance facility for its lending subsidiary, Access Bank Plc. The Managing Director of PAC Capital, Mr Humphrey Oriakhi, stated that the organisation was committed to ensuring it continues to support growth and expansion for its clients. “We are delighted to bring this landmark deal to a close for our client. This is

By Modupe Gbadeyanka On Tuesday, yields of treasury bills slightly appreciated by 0.13 percent to settle at 13 percent on the average. This was as the market traded bearish yesterday with some selloff, mostly on the shorter end of the curve (Jul – Nov) which rose by 0.30 percent on average. According to analysts at Zedcrest Research, this followed a squeeze in system liquidity coming from the OMO and forex sale in the previous session. “We expect yields to be relatively flat on [Wednesday] as market players await inflows from OMO maturities and possible FAAC payments later in the week

By Dipo Olowookere The Nigerian government is looking for ways to partner with the organized private sector to address the menace of youth unemployment in the country. Minister of Labour and Employment, Mr Chris Ngige, speaking this week at a breakfast session of the National Economic Summit in Abuja, said, “There is urgency for job creation and the need for synergy in the process because stakeholders have been working in silos with duplication of efforts and thin result. Let us start the talk and action today by mobilizing resources for job creation.” In his views, “federal government and private sector

By Modupe Gbadeyanka The Nigerian National Petroleum Corporation (NNPC) has confirmed reaching a final settlement with AITEO Group. This it said was in line with its pledge to provide members of the public with periodic updates on its recovery efforts for crude swap under deliveries. In a recent press statement by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, the NNPC had said in line with the ongoing reforms in the industry, it was committed to ensuring transparency and adequate public information on the ongoing recovery effort. The agency said following extensive reconciliation between both parties across

By Dipo Olowookere The federal government has described the current debt levels of Nigeria as comparatively good, noting that the major worry, for now, is how to diversify the economy to increase the revenue sources. Last week, the Governor of Edo State, Mr Godwin Emefiele, shocked many Nigerians when he said the nation was currently undergoing a huge fiscal crisis. He said the federal government printed N60 billion to share to the state governments in March 2021 when the revenue generated in February was not enough to meet the demands of the other tiers of government. This sparked reactions from