RESIDENTS in various parts of Ibadan, the capital city of Oyo State, were terrified on Tuesday, 16th January, 2024 as a deafening sound, which appeared to be a massive explosion shook most parts of the city. Reacting to the explosion that rocked residential areas in Bodija axis of Ibadan in the late hours of Tuesday, Gasland Limited says the source ...

The Economic and Financial Crimes Commission has interrogated the Accountant General of the Federation, Oluwatoyin Madein, over an alleged link to a N585.2m fraud involving the suspended Minister of Humanitarian Affairs, Dr Betta Edu. The AGF was quizzed by EFCC interrogators at the anti-graft agency’s headquarters, Jabi, Abuja on Monday. Details of the interrogation obtained by our correspondent on Tuesday revealed that ...

President Bola Tinubu has suspended all administered programmes by the National Social Investment Programme Agency (NSIPA). This was contained in a statement signed by Segun Imohiosen, the Director of Information, office of Secretary to the Government of the Federation. He said this is further to the ongoing investigation of alleged malfeasance in the management of the agency and its programmes. The ...

Hours after it announced the dissolution of the boards and managements of three banks yesterday, the Central Bank of Nigeria (CBN) has named new executives to oversee the operations of Union, Keystone and Polaris banks. The apex bank acted to maintain the stability and continuity of the affected institutions in the face of the restructuring. It said the appointments take immediate ...

Zenith Bank PLC, one of Nigeria’s leading financial institutions, has dismissed as entirely untrue reports on the purported arrest of its Group Managing Director, Dr. Ebenezer Onyeagwu, in a section of the media. The reports had claimed Dr Onyeagwu was arrested by the EFCC in connection with alleged fraud at the Ministry of Humanitarian Affairs. The foremost lender however clarified that ...

President Bola Tinubu has suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, from office with immediate effect, over an alleged N585m scandal in the Ministry. Special Adviser on Media and Publicity to President Tinubu, Ajuri Ngelale, in a statement on Monday said it is in line with the president’s avowed commitment to uphold the highest standards ...

* With over 4.6 trillion-naira loans to customers in Q3 2023, FirstBank is committed to economic growth and transformation.  At the dawn of the new year, it is natural for the Nigerian banking sector operators to anticipate dynamic shifts in regulations, increased digital innovations, and a focused approach toward sustainable growth and financial inclusion, while both the government and private sector ...

The Federal Government has slashed its oil production target from 4 million barrels per day (bpd) to 2.6 million bpd. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which confirmed the target cut on Tuesday, said the oil and condensates production target of 2.6 million barrels per day (bpd) by 2026, is an ambitious jump from 2023 production levels of around 1.6 ...

The Nigeria Social Insurance Trust Fund (NSITF) has kicked against the deduction of 40 per cent, amounting to N1.4billion from employers’ contributions by the Ministry of Finance as an operating surplus in line with the Fiscal Responsibility and Finance Act of 2020, despite the fact that NSITF is not a revenue-generating agency. It said it is one of the clogs in ...

The Senate has ordered a probe into the N10 billion restructuring funds released to NIPOST by the Federal Ministry of Finance. This followed the discovery of irregularities in the agency’s subsidiaries – NIPOST Properties and Development Company and NIPOST Transport and Logistics Services Limited. In its resolution of December 30, 2023, Red Chamber said it uncovered alleged illegal transfer of federal ...