AHEAD of the 31 March 2026 deadline for banks to shore up their capital base as stipulated by the Central Bank of Nigeria, banks have raised a total of ₦2.5 trillion, mostly from local investors. This is as the total assets in the industry are projected to reach ₦242.3 trillion by the end of this […]
THE Minister of the Federal Capital Territory, Nyesom Wike, has denied claims by local contractors that his administration owes them ₦5.2 billion, insisting that the debts arose from contracts irregularly awarded by civil servants without ministerial approval. On Monday, contractors staged a protest at the minister’s gate, alleging that the FCT Administration owed them about […]
THE United States has stated that Nigeria’s recently approved ₦70,000 minimum wage for federal workers has been eroded by the persistent fall of the naira. In its Country Reports on Human Rights Practices for 2024, published on 12 August by the US Department of State’s Bureau of Democracy, Human Rights, and Labour, the US highlighted […]
By DIANA OMUEZA THE Federal Government says it is modernising the Western Ports in Apapa and upgrading the Eastern Ports in Onne, Calabar, and Rivers to promote balanced regional growth. Mr. Adegboyega Oyetola, Minister of Marine and Blue Economy, said this in a statement signed on Tuesday in Abuja by his Media Adviser, Dr. Bolaji […]
By IFEANYI OLANNYE DELTA Government says it would channel efforts and resources to boost investment in power and energy, agriculture, solid minerals, trade and investment to create employment and empower its people. The State Economic Team, led by the Secretary to the State Government (SSG), Dr Kingsley Emu disclosed this at a press conference in […]
ITEL Energy, a subsidiary of the itel brand, is making a bold play in Nigeria’s fast-growing renewable energy sector, unveiling new solar solutions designed to transform how homes and businesses access uninterrupted power. The company introduced two new All-in-One (AIO) solar power systems: the Power Tank 500W AIO and the 3.6kW + 8kWh AIO, marking […]
THE Academic Staff Union of Universities (ASUU) has rejected a new plan by the Federal Government to make the union serve as a guarantor under the Tertiary Institution Staff Support Fund scheme recently introduced by President Bola Tinubu’s administration. The rejection was announced in a statement signed by ASUU President, Christopher Piwuna, following the union’s […]
FEDERAL Capital Territory (FCT) Muslim Pilgrims Welfare Board has commenced the registration of intending pilgrims for the 2026 Hajj exercise. The director of the board, Alhaji Kadiri Edah, disclosed this during a meeting in Abuja, stating that prospective pilgrims must deposit a minimum of ₦8.5 million to secure a seat. “Intending pilgrims who wish to […]
THE National Pension Commission has directed Pension Fund Administrators and Pension Fund Custodians to immediately stop accepting or processing equity contribution applications submitted by seven Primary Mortgage Banks over alleged non-compliance with its housing loan guidelines. In a circular dated 11 August 2025, signed by the Head of Benefits and Insurance Department, Obiora Ibeziako, and […]
By MARK ITSIBOR THE Federal Government has officially commenced the process of reviewing the nation’s revenue allocation formula to meet current realities. Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu announced the commencement of the review process at a press conference at Yar’Adua Centre in Abuja on Monday. There are indications […]