Following the Central Bank of Nigeria’s March mandate on recapitalization, Fidelity Bank Plc became the first bank to go public on Thursday when it began its N127.10 billion rights issuance and public offer. Fidelity Bank on Thursday commenced its public offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share and…
The Federal High Court in Lagos, which met on Thursday, scheduled a second hearing for June 27, 2024, regarding the contempt case that Guaranty Trust Bank Plc filed against the directors of AFEX Exchange Commodities Limited for a loan of N17.81 billion. Justice Chukwujekwu Aneke who presided over the court fixed the date after hearing…
The Debt Management Office (DMO) says Nigeria’s total public debt stock hit N121.67 trillion (91.46 billion dollars) in March. The Director-General of the DMO, Patience Oniha, made this known in a statement on Friday in Abuja. Oniha said that the debt stock comprised the total external and domestic debts of the Federal Government, the 36…
The Kano State Government has directed the Commissioner of Police to eject the 15th Emir of Kano, Aminu Bayero, from the Nasarawa Palace where he currently resides. Governor Abba Yusuf gave the directive via the state Attorney General and Commissioner for Justice, Haruna Dederi. Dederi, while conveying the directive at a news conference on Thursday…
The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited, according to a report by The PUNCH. An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn. However, in the new audit, the government said it had approved…
The Gombe Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned one Usman Mallam for allegedly tearing the agency’s official investigation activities’ letters and obstructing investigation before the Federal High Court sitting in Gombe, Gombe State. Mallam, a desk officer in charge of responding to official correspondence in the office of the…
The Federal Government has criticized Reynolds Construction Company (RCC) for failing to complete even 1km of the 15km East-West Road section from Eleme Junction to Onne Port Junction in Rivers State, despite receiving over N40 billion in mobilization funds. This announcement was made by the Federal Minister of Works, David Umahi, during his inspection tour…
North Korea and Russia have pledged to use all available means to provide immediate military assistance in the event the other is attacked, according to the text of a new landmark defence pact agreed by the two autocratic nations. Russian President Vladimir Putin and North Korean leader Kim Jong Un signed the new strategic partnership…
The leaders of Vietnam and Russia have said they want to boost ties as the pair met in the Vietnamese capital of Hanoi. Vietnamese President To Lam was full of praise for his Russian counterpart, Vladimir Putin, congratulating him on his recent re-election. Mr Putin, in return, said strengthening a strategic partnership with the south-east…
