News

Here are the top 10 stories making headlines across the country. 1. Hopes for new Southeast Asian states after bill passes first reading A bill proposing the creation of a new state in Nigeria’s southeast passed its first hurdle in the House of Representatives on Tuesday. Read more 2. Imo Assembly thrown into chaos as four members suspended amid impeachment …

The Netherlands Entrepreneurial Development Bank (FMO) and Nigeria’s First City Monument Bank (FCMB) today signed a $25 million NASIRA guarantee agreement. The guarantee will enable FCMB to expand its financing to farmer, youth and women-owned SMEs without requiring collateral, targeting a client group that banks typically consider too risky. Funded by the European Commission, NASIRA is one of the most …

The Nigerian Academy of Letters (NAL) has responded to a recent press report that the views expressed by individual speakers at the June 27 virtual roundtable on the Nigerian national anthem represented the official position of the Academy. In a statement, NAL Secretary, Professor Olakunbi Olasope, clarified that the views shared during the roundtable were solely those of the individual …

A director of the Bureau of Public Procurement (BPP), Isaiah Yusuf, on Tuesday testified against former aviation minister, Hadi Sirika, in his trial for alleged N2.7 billion fraud at a Federal Capital Territory (FCT) High Court, Abuja. Yusuf, who testified as the fourth prosecution witness, said the former minister’s company was not among the five firms listed as bidders for …

The Namibian government has decided to reduce the price of petrol by 80 Namibian cents per litre (around $0.044). Similarly, 50ppm diesel will be rented at 60 Namibian cents per litre, and 10ppm diesel at 70 Namibian cents per litre from Wednesday. The country’s Ministry of Mines and Energy (MME) announced this in a statement on Tuesday. The ministry said …

Nigeria’s equity market recovered from the previous day’s losses with investors gaining N25 billion at the end of trading on Tuesday. This follows the increase in share prices of CORNERSTONE, JAIZBANK and WAPIC among others on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N56.6 trillion from N56.5 trillion posted by …

Turkey and the Netherlands advanced to the quarter-finals of the ongoing European Championship after they won their round of 16 matches on Tuesday. The Netherlands reached the last eight after they secured a 3-0 win over Romania. Substitute Donyell Malen scored twice and Cody Gakpo scored his third of Euro 2024 to help the Netherlands advance in the competition. Also …

The Nigerian National Petroleum Corporation (NNPC) Limited has declared a state of emergency on crude oil production in the country. The company also invites all industry players to collaborate to reduce oil production costs and increase production to the targeted level. NNPC Group Chief Executive, Mele Kyari, disclosed this at the 23rd edition of the Nigeria Oil & Gas (NOG) …

The Naira lost N1 against the US dollar on the official exchange on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency was trading at N1,509/$1 on Tuesday compared to N1,508/$1 recorded the previous day. The intraday high and low prices recorded during the day were N1,521/$1 and N1,445/$1 respectively, indicating a slim spread …

Sokoto State said on Tuesday that the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, has no authority to appoint district and village heads in the state. The state Attorney General and Commissioner for Justice, Muhammad Nasiru Binji, stated this at a public hearing on the proposed amendments to the Sokoto State Local Government and Chieftaincy Act 2008 at the state …