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Stakeholders in Nigeria’s telecommunications ecosystem on Tuesday warned that the industry was on the brink of collapse. They spoke at a forum titled: “TELECOMMUNICATION INDUSTRY 2.0: The Next Investment Frontier in Nigeria,” held in Lagos. In his remarks at the event, MTN Nigeria Chief Executive Karl Toriola warned that the country’s telecommunications sector was now in a gasping intensive care …

The downward trend in the Nigerian equity market continued on Tuesday as investors lost N278 billion at the close of trading. This follows a decline in the share prices of the likes of Oando, Livestock Feeds and Cornerstone among others on the trading floor. After five hours of trading in the capital market, equity capitalization plunged to N55.2 trillion from …

The naira fell against the US dollar on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency fell by N12 to trade at N1,582/$1, up from N1,570/$1 it was trading at on Monday. The intraday high and low prices recorded during the day were N1,607/$1 and N1,496/$1 respectively, indicating a slim spread of N111\$1. …

Premier League club Manchester United have acquired Bayern Munich duo Matthijs de Ligt and Noussair Mazraoui in a deal that could amount to almost £60 million. De Ligt has agreed a five-year contract, while Mazraoui has signed a four-year deal, both with the option of a further year. The 25-year-old centre-back De Ligt was captain of Erik ten Hag’s Ajax …

At least 12 people were burnt to death and four others injured in a single-vehicle accident in the Ogere area of ​​the Lagos-Ibadan expressway on Tuesday. Spokesperson of the Federal Road Safety Corps (FRSC) in Ogun State, Mrs. Florence Okpe, confirmed the accident in a statement issued in Abeokuta. He said the Mazda bus with registration number DDA 733 XA …

The Abia State House of Representatives on Tuesday inaugurated Mr. Aaron Uzodike as the member of parliament representing Aba North Constituency of the State. Uzodike of the Peoples Democratic Party (PDP) replaces Labour Party member Destiny Nwangwu, who was sacked by the Court of Appeal last year. The Court of Appeal, Lagos, on November 27, 2023, annulled Nwangwu’s victory in …

The State Council on Tuesday issued a “vote of confidence” in President Bola Tinubu. The meeting, the first since Tinubu took office on May 29 last year, was attended by former Presidents Muhammadu Buhari and Goodluck Jonathan. The duo of former heads of state, Yakubu Gowon and Abdulsalami Abubakar, attended the meeting virtually. Minister of Solid Minerals Development, Dele Alake, …

    Following the appointment and swearing-in of the new Head of the Civil Service of the Federation (HoSF), Mrs. Didi Esther Walson-Jack, OON, mni, by President Bola Ahmed Tinubu, GCFR, during the Federal Executive Council meeting on Monday, the outgoing HoSF, Dr. Folasade Yemi-Esan, CFR, formally handed over the leadership baton to her. The handover ceremony took place at …

The Bank Directors Association of Nigeria (BDAN) has opposed the recently signed windfall tax introduced by the Federal Government. The association described it as “excessively burdensome and ill-timed”. In a recent statement by its chairman, Mustapha Chike-Obi, BDAN warned that high tax rates would stifle growth and innovation in the banking industry. Chike-Obi is also the chairman of Fidelity Bank …

  ● He says NNPC Ltd is witnessing improved growth in crude oil production The Group CEO of NNPC Ltd., Mr. Mele Kyari, has called on the military to sustain the war against crude oil theft and pipeline vandalism, saying the current attack against this menace has resulted in better growth in the country’s crude oil production. The GCEO of …