EFCC joins Yahaya Bello in new amended charge against officials of Kogi govt The Chief of Staff to Kogi State Governor, Alli Bello, and one Daudu Suleiman have been re-arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly diverting about N100 billion belonging to the state government in[Read More…]
Nigeria to issue eurobonds after two years Nigeria has hired investment banks including Citibank NA, JPMorgan Chase & Co., and Goldman Sachs, to seek advice on its first eurobond issue since 2022. According to a Bloomberg report, the size of the eurobond offer, which is expected before June,[Read More…]
Tinubu directs immediate opening of borders with Niger Republic, lifting of all sanctions In what would amount to another policy somersault, President Bola Tinubu, on Wednesday, ordered the immediate re-opening of Nigeria’s land and air borders with neighbouring Niger Republic. According to a statement issued by his special adviser[Read More…]
UBA Gets $100m Fund to empower women led SMEs The African Guarantee Fund (AGF) and United Bank for Africa (UBA) has signed a partnership that ensures that UBA provides $100 million in new loans to Small and Medium Enterprises (SME) and business owners across the 20 African countries where[Read More…]
Jandor says Bode George no longer member of PDP The Peoples Democratic Party (PDP) governorship candidate for Lagos State in the 2023 election, Abdulazeez Olajide Adediran, popularly known as Jandor, has clarified his earlier stance of suspending Chief Bode George from the party. Bode George was a former deputy[Read More…]
Electricity workers picket headquarters of Kaduna Disco, demand seizure of company licence The licence of Kaduna Electricity Distribution Company (KAEDC) should be withdrawn, according to protesting workers who have already picketed the entrance of the company. The workers, under the aegis of the National Union of Electricity Employees (NUEE),[Read More…]
Chudi Offodile takes over Bashir Jamoh as Acting NIMASA DG Chudi Offodile has taken over the affairs of the Nigerian Maritime Administration and Safety Agency (NIMASA, as the Executive Director, Finance and Administration from the outgoing DG, Bashir Jamoh. Jamoh’s tenure ended on March 10, 2024. In a statement[Read More…]
TCN Transmission vandalized for the fifth time in 4 weeks The Transmission Company of Nigeria (TCN) has reported a destruction of its infrastructure -the Shiroro-Katampe 330kV transmission line which makes it the fifth time the incident has occurred since February. A statement by the company said that the latest incident[Read More…]
FX reforms paying off as overseas remittances swell by over 400% says CBN On Thursday, the apex bank said overseas remittances into the country rose to $1.3 billion in February compared to $300 million in the preceding month. The bank’s acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali,[Read More…]
CBN to sanction Microfinance banks over late submission of monthly returns The Central Bank of Nigeria has threatened to sanction development finance institutions, primary mortgage banks, and microfinance banks regarding the timely submission of their statutory monthly returns through the Financial Institutions Returns Automation (FinA) application. The Apex Bank gave[Read More…]
