Local NDIC Reimburses Depositors of Rested Banks March 1, 2024 Ekemini Uba The Nigeria Deposit Insurance Corporation (NDIC) has announced the reimbursement of depositors affected by the closure of 179 microfinance and four mortgage banks nationwide. Dr. Bello Hassan, Managing Director of…
Local NCAA Sets Up Committee to Investigate Foreign Airlines’ High Fares March 1, 2024 Ekemini Uba The Nigeria Civil Aviation Authority (NCAA), led by Chris Najomo, has established a 10-man committee to probe foreign airlines regarding exorbitant airfares, aiming to enhance affordability for Nigerian travelers. This…
Local Bill to amend NDIC Act scale second reading at Senate March 1, 2024 Ekemini Uba A Bill seeking to amend the Nigeria Deposit Insurance Corporation (NDIC) Act No. 63 of 2023 to enhance the corporation’s effectiveness, ensure its independence, and align it with current realities,…
Business Crypto Nigeria’s Crackdown on Binance Sparks Concerns for Cryptocurrency Future March 1, 2024 Ekemini Uba Nigeria’s recent crackdown on Binance, a prominent cryptocurrency platform, has ignited concerns regarding the future of cryptocurrency in the country. The government’s actions, which include restricting access to crypto firm…
Local You Can’t Fight Me – Tinubu Dares NLC March 1, 2024 Ekemini Uba President Bola Ahmed Tinubu criticized the recent Nigeria Labour Congress (NLC) protest, cautioning the labor movement against assuming it represents the sole voice of the people. Speaking at the commissioning…
Local Tinubu Directs Cement Companies to Revert to Old Prices- Minister March 1, 2024 Ekemini Uba President Bola Ahmed Tinubu has instructed cement companies to return to previous pricing levels, as disclosed by Minister of Works, Senator David Umahi, after inspecting BUA cement factory in Sokoto.…
Breaking Local House of Rep Cautions Tinubu on Orosanye Report Implementation March 1, 2024 Ekemini Uba The House of Representatives has cautioned the Bola Tinubu-led presidency against hastily implementing the Orosanye Report, urging thorough review before implementation. President Tinubu’s directive for full implementation of the report,…
Local MMA2 Wins Two Awards at Nigerian Aviation Ceremony February 29, 2024 Ekemini Uba Bi-Courtney Aviation Services Limited (BASL), which operates the Murtala Muhammed Airport Terminal Two (MMA2), proudly announced its success at NIGAV’s 13th Nigerian Aviation Award and Ministerial Dinner 2023. MMA2 received…
Business investment Local Delta State Government Partners with UK Firm for Mangrove Restoration Project February 29, 2024 Ekemini Uba The Delta State Government recently finalized an agreement with a United Kingdom firm and other partners to restore mangrove forests, protect seagrass, and preserve the ecosystem for conservation and environmental…
Local Ibom Air Adjusts Flight Schedule After Wet-Lease Discontinuation February 29, 2024 Ekemini Uba Following the termination of its wet-leased aircraft arrangement, Ibom Air has announced adjustments to its flight schedule, assuring passengers that operations will soon return to normal. The airline also revealed…
Local Trade SEC May Wield Hammer on Binance, Other crypto Platforms For Illegal Operations February 29, 2024 Ekemini Uba The Securities and Exchange Commission (SEC), Nigeria, is considering imposing huge fines, potentially amounting to billions of dollars, on Binance, one of the world’s largest exchanges, and other cryptocurrency companies…
Local Technology 3.0 Verse Launches Operations in Nigeria to Simplify Digital Assets February 29, 2024 Ekemini Uba 3.0 Verse, a digital assets company, has inaugurated its operations in Nigeria, marking its entry into the African market. The firm also announced a strategic partnership with the Stakeholders in…
Business Local Market Naira Records First Gain at Official Market After Rate Hike February 29, 2024 Ekemini Uba The Nigerian naira has experienced a slight appreciation of 0.39 percent in the official foreign exchange (FX) market, marking its first gain following the Central Bank of Nigeria’s (CBN) recent…
Local CBN Resumes Dollar Sales to BDCs to Stabilize Naira February 29, 2024 Ekemini Uba After a three-year hiatus, the Central Bank of Nigeria (CBN) has reinstated dollar sales to Bureau De Change (BDC) operators, aiming to stabilize the naira and reduce the gap between…
Banking Local CBN’s Monetary Policy Committee Raises Interest Rate to 22.75% February 29, 2024 Ekemini Uba The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), under the leadership of Olayemi Cardoso, announced a significant increase in the main interest rate by 400 basis…
Africa World ICC Orders Record Reparations for Victims of Ugandan Militia Commander February 29, 2024 Ekemini Uba International Criminal Court (ICC) judges have ruled that nearly 50,000 victims of Ugandan militia commander Dominic Ongwen are entitled to receive over 52 million euros ($56 million) in compensation, marking…
Local U.S. Urges UN Security Council Action to End Sudan Conflict February 29, 2024 Ekemini Uba The United States has urged the United Nations Security Council to intervene and help resolve a nearly year-long conflict in Sudan between the Sudanese army and the paramilitary Rapid Support…
Trade World Guinea’s Trade Unions Suspend Nationwide Strike February 29, 2024 Ekemini Uba Guinea’s trade unions have lannounced the suspension of a nationwide strike that had brought the West African nation and its mining sector to a standstill since Monday. The decision to…
World Impala Platinum Considers Closure of South African Mines February 29, 2024 Ekemini Uba Impala Platinum (IMPJ.J) is considering the closure of some of its loss-making South African mining operations if metal prices continue to decline and restructuring efforts fail to enhance margins, CEO…
Business Market World Oil falls on US demand worries, interest rate fears February 29, 2024 Ekemini Uba Oil prices experienced a decline on Thursday following a larger-than-expected build in U.S. crude stockpiles, raising concerns about sluggish demand. Additionally, indications that U.S. interest rates may remain elevated further…
Technology World Int’ Game Technology to merge two units with Everi in $6.2 bln deal February 29, 2024 Ekemini Uba International Game Technology (IGT.N) announced on Thursday its decision to split its global gaming and playdigital businesses and merge them with gaming machine maker Everi Holdings (EVRI.N) in a deal…
Local Oronsaye Report Outdated, Says Shehu Sani February 29, 2024 Ekemini Uba Former lawmaker Senator Shehu Sani has emphasized the need to update the Oronsaye Report before its implementation, citing its obsolescence in light of the proliferation of new agencies and commissions…
Local Nigerians Are Happy People… They Can Absorb Hardship And Keep Moving – Deputy Speaker February 29, 2024 Ekemini Uba During a session on Wednesday, Benjamin Kalu, the deputy speaker of the lower legislative chamber, expressed his belief that Nigerians possess the resilience to withstand hardship and persevere. Speaking during…
Local Immigration: FG Asks Seniors, Juniors Of New CG To Resign February 29, 2024 Ekemini Uba The Federal Government is poised to carry out a mass retirement of Senior Officers within the Nigeria Immigration Service, barring any last-minute alterations to its plans. The affected Senior Officers…
Local Inside Details Of How Nigerian Govt Detained Binance Executives February 29, 2024 Ekemini Uba The Nigerian government has detained two executives of the Binance crypto exchange platform as part of efforts to stabilize the nation’s foreign exchange market and protect the value of the…
Breaking Business Local JUST IN: MPC Raises Interest Rate To 22.5% February 27, 2024 Ekemini Uba The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced a significant increase in the benchmark interest rate, raising it by 400 basis points from 18.5…
World Widow’s $1 Billion Surprise Gift: Bronx Med Students’ Tuition Covered Forever February 27, 2024 Ekemini Uba When Ruth Gottesman’s husband passed away in 2022, she discovered a surprise: $1 billion in Berkshire Hathaway stock left by her husband. Gottesman, 96, shared that her husband’s only instruction…
Local Fire Incident at FCMB Office in Lagos Island February 27, 2024 Ekemini Uba First City Monument Bank (FCMB) confirmed a fire incident on Monday, February 26, on the 7th floor of its office located at Macarthy Street, Lagos Island. The incident was reported…
Local Foreign Investors Pause Nigerian Investments Over Naira Volatility February 27, 2024 Ekemini Uba Foreign investors are holding back on new investments in Nigeria, awaiting stability in the country’s currency, the naira. A projected inflow of approximately $700 million has been put on hold…
Business Local Civil Society Leaders Urge Halt to Shell Petroleum Sale in Nigeria February 27, 2024 Ekemini Uba A coalition of civil society leaders has united in a call for the cessation of the sale of Shell Petroleum Development Company (SPDC), the Nigerian arm of Shell Plc, a…
