The Commission’s third quarterly market report revealed the government incurred a subsidy obligation of about ₦205bn in 2023/Q3 (average of ₦68bn per month), which is an increase of ₦69bn compared to the ₦135bn (average of ₦45bn per month) incurred in 2023/Q2. This increase in subsidy payment, according to the report, was largely attributable to the…
President Bola Tinubu and the Nigerian National Petroleum Company, (NNPC) have been asked to stop the award of pipeline contracts to individuals and groups linked with armed rebellion and militancy. At a World Press conference organized by the Nigerian Coalition of Civil Society Groups held in Lagos on Monday, the groups said for stability and…
Leading financial institution, Fidelity Bank Plc, has released its 2023 full-year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion. According to the results, which were issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% YoY to N555.83 billion, driven by 81.6% growth in…
Ecobank Nigeria Limited, a subsidiary of the Ecobank Group, has entered a strategic partnership with the Nigeria Chess Federation (NCF) to host the 2024 National Schools’ Team Chess Competition. The competition is scheduled to hold between 24th – 28th May 2024 at the Ecobank Pan African Centre (EPAC) in Victoria Lagos. It is open to…
Nigeria said it recovered nearly $30 million from an ongoing corruption investigation at a key government agency. The entity being probed for fraud is the ministry of humanitarian affairs which is also charged with fighting poverty. The Economic and Financial Crimes Commission said in a statement that it had uncovered a complex ‘web of fraudulent…
The gunmen who kidnapped Jennifer Peter and dozens of her peers from a school in March 2021 returned months later to attack another school in her state in northwestern Nigeria. The second time, they seized over 100 children as they cried amid gunfire. One of them was Jennifer’s then 10-year-old cousin, Treasure. Paying a ransom…
The invaders who claimed to be members of the Yoruba nation agitators, were paraded alongside seized exhibits such as guns, ammunition, plaques with the Yoruba nation insignia, cutlasses, walkie-talkies, and other communication gadgets. The Oyo state commissioner of police, Adebola Hamzat told journalists that the suspects would be charged with treasonable felony and terrorism as…
In a judgment that lasted over 6 hours, the coroner also held that the death was however avoidable as the negligence of the parents and the medical team also contributed to it. Magistrate Kadiri absolved some students of Dowen college named in the incident as he concluded that they played no part in the death…
OCP Africa, a subsidiary of OCP Group OCP Africa, has committed N10 million to the Brightest University Fund. The company announced an N100m crowdfunding campaign for the top 81 high school students studying agricultural science in Nigeria. A statement on Sunday noted the fund would be disbursed transparently, to provide scholarship opportunities to the best…
