Nigeria has witnessed a sharp rise in its external debt servicing costs, which surged to $2.78 billion in the first seven months of 2024. This marks a substantial 53.63% increase compared to the $1.81 billion recorded in the same period in 2023. The information was disclosed in the Central Bank of Nigeria’s (CBN) Weekly International…
In a significant legal development, two employees of Keystone Bank, Ebele Okpala and Perpetua Onyeto, have been granted bail by the Federal High Court in Lagos after being charged with the alleged embezzlement of N35 million. The two bankers, who were arrested following a police investigation, are facing multiple charges, including conspiracy, theft, and money…
As the People’s Democratic Party’s (PDP) National Working Committee (NWC) prepares to meet on Wednesday, a potential conflict brews between PDP governors and the Federal Capital Territory Minister, Nyesom Wike. The focus of this discord centers on the ongoing political tensions in Rivers State, where Wike and Governor Siminalayi Fubara, both prominent PDP members, are…
The Naira has experienced a sharp decline in value, trading at an alarming rate of N1,635 to the U.S. dollar in the parallel market. This latest depreciation underscores the ongoing challenges facing Nigeria’s economy, particularly in the foreign exchange sector, where demand continues to outstrip supply. Market analysts attribute the Naira’s fall to several factors,…
On Monday, frustrated residents of Abuja took to the streets in a protest against the ongoing fuel scarcity, demanding the immediate dismissal of Mele Kyari, the Group Managing Director of Nigerian National Petroleum Corporation Limited (NNPCL). The protest follows NNPCL’s recent admission that its significant debt to suppliers is jeopardizing the nation’s fuel supply chain….
The Peoples Democratic Party (PDP) has initiated strategic discussions with former Kano State Governor, Rabiu Kwankwaso, and the Labour Party’s 2023 Presidential candidate, Peter Obi, in preparation for the 2027 general elections. This revelation came from the PDP’s Deputy National Publicity Secretary, Ibrahim Abdullahi, during a recent interview with Channels Television. Abdullahi highlighted that the…
Toronto Police have detained a Nigerian woman, Amaka Patience Sunnberger, following an alarming social media outburst in which she threatened to poison individuals belonging to the Yoruba and Benin communities. This development has sparked significant concern within the diverse Nigerian community in Toronto. The Toronto Police Service, in a formal statement titled “Suspected Hate-Motivated Threatening…
In a tragic turn of events, a 19-year-old native doctor, Timothy Dauda, has been apprehended by the police in Edo State for allegedly causing the death of his client, Alex Ezekiel, during an attempt to test an “anti-bullet” charm. The incident, confirmed by SP Moses Yamu, the Public Relations Officer for the state’s police command,…
The Dangote Group has officially begun producing petrol at its state-of-the-art oil refinery, marking a significant milestone in Nigeria’s energy sector. This development was confirmed by Anthony Chiejina, the Group’s Chief Branding and Communications Officer, during a conversation with TheCable on Monday. Test Runs and Production Delays The refinery had previously announced on August 22…
The People’s Democratic Party (PDP) has expressed serious concerns regarding recent statements made by Nyesom Wike, the Federal Capital Territory (FCT) Minister. The party has found Wike’s comments particularly troubling and has subsequently summoned him to appear before its disciplinary committee. The former Rivers State Governor, who has long been a significant figure within the…
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