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TCM urges Muslims to pray for Nigeria’s economy, security  

Lagos, June 16, 2024 – A socio-political group, The Collective Movement (TCM), has called on Muslim faithful across the country to reflect on the state of Nigerian economy as they celebrate the festival of sacrifice, Eid-ul-Adha. Eid-ul-Adha, also known as Bakrid, is the second-most significant festival in the Islamic calendar following Eid al-Fitr. TCM made the plea in a statement on Sunday signed by its Director of Media, Ndubuisi Nwachukwu. The group urged the Muslim faithful to pray for a quick turnaround of the country’s economy among other challenging issues …

Minimum Wage: SERAP urges Tinubu to pay living wage to workers

Abuja, June 16, 2024 – The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to abide by the international obligation which enjoins governments to pay living wage to workers. SERAP made the plea against the backdrop of the contentious outcome of the recent negotiations on new minimum wage. While the federal government said it had reached agreement with all the parties on N62,000 new minimum wage, the labour unions said it had not reached any such agreement with government. The unions are still demanding N462,000 living wage …

NDLEA busts drug cartel, seizes N4.7bn worth of cocaine 

Abuja, June 16, 2024 – The National Drug Law Enforcement Agency (NDLEA) has seized N4.7 billion worth of cocaine from a drug cartel led by Kelechi Monday Nwaobasi, 49-year-old and Ms. Chinwe Rose Nwaobasi, his 50-year-old elder sister, in Aba, Abia State. Femi Babafemi, the NDLEA Spokesman, disclosed this in a statement on Sunday. He said the cartel leaders were arrested by the Special Operation Unit of the agency while the cocaine and methamphetamine consignments worth over N4.7 billion were seized from their hideout in Aba, Abia state. Babafemi said …

IMPI backs new electricity tariff model, canvasses lower rates for businesses

Abuja, June 16, 2024 -The Independent Media and Policy Initiative (IMPI) has justified the new tariff for Nigeria’s top end electricity consumers, but does not think the authorities are doing enough to communicate with Nigerians. In a policy statement signed by its Chairman Niyi Akinsiju, the Policy Think tank noted that there is a need for Nigerians to know that years of little or no investment in the power value chain had created a major challenge for the sector. IMPI said: “The crux of the matter is bridging the historically …

Emir Sanusi holds durbar in Kano in spite police directive

Kano, June 16, 2024- Emir Sanusi Lamido, one of the emirs contending the Kano stool, held the traditional Durbar in Kano in spite of police order banning durbar this Sallah. The durbar was held after the emir led the Eid-el-Kabir prayer and sermon at the Kofar Mata Jumu’at mosque on Sunday.  It will be recalled that the Kano State Police Command had on Thursday announced the ban on all durbar activities during the Eid-Kabir throughout the state. Haruna Abdullahi, the state Police Public Relations Officer, announced the ban in a …

Fidelity Bank’s public offer, rights issue open June 20

Lagos, June 16, 2024 – Nigeria’s sixth largest bank, Fidelity Bank Plc, will open its public offer and rights issue on Thursday, June 20, 2024. As part of this capital raising process, Fidelity Bank will on same hold a Facts Behind the Offer presentation at the Nigerian Exchange (NGX). According to an article posted on the Businessday website and authored by Iheanyi Nwachukwu, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of one new ordinary share for every 10 ordinary shares held as at …

Dabiri Erewa calls for more support to women in politics 

Lagos, June 15, 2024 – Abike Dabiri-Erewa, the Chief Executive of Nigerians in Diaspora Commission (NIDCOM), says Nigeria’s rating on women’s participation in elective office as the lowest in Africa is disappointing. She, therefore, called for more support to women’s participation in politics by political parties and the parliament. Dabir-Erewa made the observation while delivering a lecture on “The Role of Women in Nation Building” at the Lagos State House of Assembly Complex in Ikeja as part of activities marking the 25 years anniversary of democratic governance in Nigeria. She …

Tinubu urges Nigerians to reflect on significance of sacrifice in nation building

Abuja, June 15, 2024 – President Bola Tinubu has urged Nigerians to reflect on the significance of sacrifice in nation-building. The president gave the advice on the occasion of celebration of Eid-el-Kabir.  According to a statement issued on Saturday by Ajuri Ngelale, the presidential Spokesman, Tinubu advised Nigerians to internalize its lessons for the collective good of the nation He said that nation build required citizens to make sacrifices and have a collective sense of purpose and called on all Nigerians to pray for peace and stability in the country. …

Who is afraid of Fidelity Bank?

Lagos, June 15, 2024 – A lot of mischief is going on in the banking sub-sector of Nigeria’s financial ecosystem since the Central Bank of Nigeria (CBN) revoked the banking licence of Heritage Bank Plc on June 3, 2024. The not-so-subtle campaign by some faceless groups to demarket an otherwise solid financial institution like the Fidelity Bank has not escaped the attention of discerning banking publics. But it is a mischief taken too far. In revoking the banking licence of Heritage Bank, the CBN made it clear that its board …

Fubara urges transparency in community development trusts

Port Harcourt, June 15, 2024 – Siminalayi Fubara,  the Governor of Rivers State, has called for responsible management of funds allocated to Host Communities Development Trusts (HCDT) in the Niger Delta. The governor spoke while inaugurating three additional HDCTs by The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC Joint Venture comprising SPDC, the Nigerian National Petroleum Company Limited (NNPC), TotalEnergies Limited and Nigerian Agip Oil Company Limited. Represented by the state Commissioner for Chieftaincy & Community Affairs, Charles Amadi, the governor said the development in …