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Investors in the Nigerian equity market lost N1.1 trillion at the close of trading on Friday. This follows the decline in stock prices of stocks such as ETERNA, DANGOTE CEMENT, and DAAR COMMUNICATION among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N55.6 trillion from N56.7 trillion posted by …

Police officers in Osun have arrested a 50-year-old man for allegedly killing his friend for a money ritual in the state. State police spokesman Yemisi Opalola told reporters during a parade of the criminal suspects at the command headquarters in Osogbo that the suspect slit the victim’s throat after killing him. He said: “On July 18, at 3:00 pm, the …

Former local government chairmen in Rivers State on Friday faulted the continued assignment of interim committee chairmen for weeks after the Supreme Court declared them illegal in the council. The Supreme Court earlier this month granted total autonomy to the country’s 774 local governments. The apex court in its ruling on a suit filed by the Federal Government ordered the …

United Nations Deputy Secretary-General Amina Mohammed said on Friday her mission to the Economic Community of West African States (ECOWAS) countries that formed the new alliance was a success. Mohammed disclosed this to State House Correspondents after a meeting with President Bola Tinubu in Abuja. The former environment minister said he was visiting the country to brief President Bola Tinubu …

Guinness Nigeria Plc has reported a loss of N54.7 billion for the financial year ended June 30, 2024. This loss is higher by N36.5 billion compared to the loss experienced by the company in the same period in 2023 of N18.1 billion. Loss before tax also reached N73.6 billion. There was only a slight increase in total revenue from N229.4 …

  One of the world’s most powerful drug lords, Ismael “El Mayo” Zambada, leader of Mexico’s Sinaloa cartel, has been arrested by U.S. federal agents in El Paso, Texas. Images by Reuters Zambada, 76, founded the criminal organization together with Joaquin “El Chapo” Guzman, who is incarcerated in the United States. Guzman’s son, Joaquin Guzman Lopez, was also arrested Thursday …

The naira fell again against the US dollar on Friday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency fell by N6 to close the week at N1,609/$1, up from the N1,603/$1 it traded at on Thursday. The intraday high and low prices recorded during the day were N1,615/$1 and N1,476/$1 respectively, indicating a slim …

The Cross River State House of Assembly on Friday passed the 2024 supplementary budget of N437.876 billion. In the budget, an amount of N151.684 billion was allocated for personnel costs, N283.333 billion for capital expenditure, and N2.857 billion was approved for official expenditure. Governor Bassey Otu presented the Supplementary Budget Bill to the Assembly on July 18. In his remarks …

Inspector-General of Police, Kayode Egbetokun, on Friday asked individuals behind the #EndBadGovernance protests in the country to submit their details to the Police authorities. Egbetokun, who spoke to journalists in Abuja, asked all groups planning to participate in the protest to provide their names and contact details to the commissioners of police in their respective states. He said the action …

The Nigerian Electricity Regulatory Commission (NERC) has revealed that 23 electricity workers died in the line of duty in the first quarter of this year in the country. The commission revealed this in its latest report given to journalists on Friday. He added that 23 workers died while 31 others were injured in 55 accidents during the period. The report …