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Nigerian equity markets reversed losses recorded in the first trading week of August to post relatively profitable trading last week. The stock exchange strengthened in three of the five trading sessions as the All Share Index (ASI) rose +0.87% and closed the week at 98,592.12 points from 97,745.73 points in the previous week. Additionally, investors gained N480.8 billion as market …

A formal petition has been filed with the Federal Character Commission (FCC) against Abubakar O. Sulaiman, Director General of the National Institute of Health (NILDS). The petition, authored by Professor Jake Dan-Azumi, accuses Mr Sulaiman of serious misconduct since his appointment in 2019, including abuse of office, violation of federal moral principles and breach of public trust. The charges allege …

Nigeria’s Deposit Insurance Corporation (DIP) on Sunday explained why 17.64% of insured depositors of the defunct Heritage Bank have not already paid. In a statement issued by its spokesperson, Bashir Nuhu, the NDIC said depositors had not been paid because they had no debit instruction (PND) or no Bank Verification Number (BVN) on their accounts. The commission added that 82.36% …

Here are the top 10 stories making headlines across the country. 1. SERAP writes Tinubu, concerned that $1.5 billion World Bank loan to 36 countries, $3 billion Chinese loan to the Federal Government may have been diverted The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to “direct the Attorney General of the Federation and the …

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to “order the Attorney General of the Federation and the Minister of Justice Mr. Lateef Fagbemi, SAN and appropriate anti-corruption agencies to immediately and thoroughly investigate the disbursement of the $1.5 billion World Bank loan obtained by 36 states and Abuja for poverty alleviation and social protection …

The Lagos State Police Command on Sunday said a 25-year-old contract staff, whose name was not released, allegedly jumped into an iron melting pot at his company and died. The report also stated that the victim’s body was completely destroyed in the pot and was not found. Spokesman of the command, SP Benjamin Hundeyin, confirmed this to the News Agency …

The Peoples Democratic Party (PDP) has expressed concern over the Supreme Court ruling granting autonomy to local governments, warning that the Federal Government’s attempt to create another bureaucracy could be problematic. “We are reviewing the ruling and we believe that the matter is not over,” PDP National Publicity Secretary Debo Ologunagba said at a world press conference in Abuja on …

Concerned about the growing insecurity in the Gulf of Guinea, the Nigerian Maritime Safety and Administration Agency, NIMASA, and London’s Chatham House jointly decided that the issue should be raised with the United Nations Security Council (UNSC) this month. This highlights the progress NIMASA has made in combating piracy and sea robbery in the region. The decision was reached in …

  Ukrainian President Volodymyr Zelensky has admitted for the first time that his army is conducting a cross-border offensive in Russia’s western Kursk region.   https://www.theconclaveng.com/we-cannot-sabotage-dangote-refinery-after-investing-billions-of-naira-in-it-nnpc/ In his video address on Saturday evening, Zelensky said the Ukrainian military was moving the war to the “territory of the aggressor.” Kiev launched its surprise attack on Tuesday, rapidly advancing more than 10 …

The Centre for Promotion of Private Enterprise (CPPE) has lamented the overzealous policies of regulatory bodies in Nigeria. This, according to the economic think tank, has led to increasing incidents of regulatory interference, disruption and frustration befalling Nigeria’s manufacturing sector and other investors in the Nigerian economy which is becoming worrying. In a statement signed on Sunday by CPPE Director/CEO, …