Archive | News RSS feed for this section

Naira plunges further at parallel market

The naira exchanged to the dollar for 483 in the parallel market on Monday. This was despite the regular interventions in terms of forex injections by the Central Bank of Nigeria. Bureau de Change operators have blamed the depreciation of the naira on the activities of speculators. The President, Association of Bureaux De Change Operators […]

Continue reading

Court remands Nigerian senator in prison

The Federal High Court, Abuja, on Monday, ordered Sen. Ali Ndume to be remanded in Kuje Prison following Abdulrasheed Maina, former Chairman, defunct Pension Reformed Task Team (PRTT)’s refusal to appear for his trial. Justice Okon Abang gave the order when Ndume, who represents Borno South Senatorial District, failed to file a formal application to […]

Continue reading

Trump finally agrees to Biden transition

The General Services Administration acknowledged Democrat Joe Biden as the apparent winner of the presidential election on Monday, following weeks of inaction, and President Donald Trump called on his agencies to cooperate, Bloomberg reports. “I am recommending that Emily and her team do what needs to be done with regard to initial protocols, and have told my […]

Continue reading

COVID-19: Suspend Christmas, New Year travels, PTF advises Nigerians

Amid fears of a possible second wave of COVID-19 in the country, the Presidential Task Force (PTF) on COVID-19 has advised Nigerians to suspend their Christmas and New Year travels to limit the risk of contracting the virus. The chairman of the task force, Boss Mustapha, at a press briefing on Monday said such trips should be […]

Continue reading

Finance Minister Reveals When Nigeria Will Exit Recession

Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, said the country will exit recession by the first quarter of 2021. Ahmed spoke about the current recession in the country at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, […]

Continue reading

COVID-19 caused Nigeria’s recession – Buhari

As Nigeria slips into recession for the second time in five years, President Muhammadu Buhari, says it came about because of the severity of the global economic downturn caused by the COVID-19 pandemic. He said this on Monday in Abuja, while declaring open the 26th Nigerian Economic Summit with the theme: “Building Partnerships for Resilience’’. The summit was […]

Continue reading

Lagos government auctions 44 vehicles for driving against traffic

The Lagos State Task Force on Environmental and Special Offences has auctioned 44 vehicles for driving against traffic (one-way) in various parts of the state. The News Agency of Nigeria (NAN) reports that the auction was in accordance with the Lagos State Transport Sector Reform of 2018. The spokesman for the Task Force, Adebayo Taofiq, told the […]

Continue reading

CCB to prosecute Magu over dormant account, ‘Port Harcourt property’

The Code of Conduct Bureau (CCB) will arraign Ibrahim Magu, the suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), before the Code of Conduct Tribunal (CTC) any moment from now, TheCable understands. According to sources in the know, Magu is to be prosecuted for allegedly failing to list a bank account in […]

Continue reading

US election: Trump ally urges him to accept defeat

A prominent ally of Donald Trump has urged him to drop his efforts to overturn his loss to Joe Biden in the US presidential election. Former New Jersey Governor Chris Christie called the president’s legal team a “national embarrassment”. President Trump has refused to concede the election, making unsubstantiated claims of widespread electoral fraud. Many […]

Continue reading

Recession : Atiku wants more taxes on super-rich Nigerians

The former vice president, Atiku Abubakar, has advised the Nigerian government to increase taxes on the super-rich in order to raise government income as the county slides into recession. Nigeria has officially slid into the second recession in five years and the worst in almost four decades. On Saturday, the National Bureau of Statistics (NBS) announced that […]

Continue reading

Organised Labour walks out of meeting with Nigerian Government

The Organised Labour on Sunday walked out of a meeting with the Federal Government on recent increase in fuel price and electricity tariffs. The meeting was said to be about five minutes old before the Organised Labour, comprising Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, staged a walk out. In attendance from […]

Continue reading

Focus On Reducing Poverty, Not 2023 Elections – Peter Obi

Former Anambra State Governor, Peter Obi, insisted on Sunday that solving the current economic crisis was more important than political permutations geared towards 2023. He made the remark during an appearance on Channels Television’s Sunday Politics. According to Obi, who was the Peoples Democratic Party’s vice-presidential candidate in 2019, the 2023 elections have no impact […]

Continue reading

Presidency Ambition: My day will come like Joe Biden’s – Pastor Bakare

“There is something called destiny. I am not one to hide under the umbrella of one finger and make ambition looks like vision. I do not camouflage. It’s not a matter of life and death, but you can write it down, as the Lord lives, and as I am given the opportunity, the day will […]

Continue reading

COVID-19: Rising Cases, No Plans for Another Lockdown, Says Nigerian Government

With the economy now back in recession, the nation is definitely not contemplating a second lockdown even though the Covid-19 cases are increasing by the day, the Secretary to the Government of the Federation and Chairman, Presidential Task Force (PTF) on coronavirus, Boss Mustapha, has said. Mustapha, who hinted that the PTF is billed to […]

Continue reading

Nigerian army finally admits to having live rounds at Lekki Toll Gate protests

The Nigerian army admitted on Saturday that soldiers were given both live and blank bullets when they were deployed to protests at Lekki toll gate on October 20. The admission seems to confirm a key finding of a CNN investigation into the shooting. “The soldiers they were both given both live and blank bullets. In this particular […]

Continue reading

Nigeria suffers worst economic recession in 36 years – World Bank data

Amid rising debt profile, inflation and unemployment, Nigeria, Africa’s biggest economy, has entered its second recession in five years as official figures published on Saturday showed that the economy shrank again in the third quarter of this year. This year’s recession is the worst in 36 years as data obtained from the World Bank showed […]

Continue reading

President Buhari Begins Search for New EFCC Chairman

Feelers from the Presidency last night revealed that the search for a new Chairman for the Economic and Financial Crimes Commission (EFCC) may have started, following the recommendation of the Justice Ayo Salami panel for the removal of the anti-graft agency’s suspended acting Chairman, Ibrahim Magu. Presidency source also confirmed that President Muhammadu Buhari is […]

Continue reading

Nigeria Among Most Dangerous Places for Children – Report

Nigeria has been named among the most dangerous places on earth for children according to a report by the Save the Children Report which said a total of 93,236 children had been killed or maimed in conflicts in the last 10 years. The report also named Syria, Somalia, Afghanistan, Yemen, DRC, Mali, CAR, Iraq, South […]

Continue reading