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Nigeria, Germany ink €20m Renewable Energy Deal

20.06.2025
The Federal Government of Nigeria has signed a €20m agreement with the German government to support the country’s energy transition and promote renewable energy development. According to a press statement on Thursday by the Ministry of Budget and Economic Planning, the agreement, which was finalised the previous day, will be facilitated through the KfW Development...
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Tower Vandalism: 264 Transmission Towers Destroyed

20.06.2025
The Transmission Company of Nigeria has raised the alarm over the persistent destruction of its infrastructure, revealing that a total of 264 high-voltage transmission towers were vandalised across the country between January 2024 and June 2025. According to the agency, the attacks, fueled by sabotage, political motives, and economic incentives, have plunged entire regions into...
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Manufacturing Reforms Urged to Save Nigeria’s Economy

20.06.2025
The Manufacturers Association of Nigeria Export Promotion Group has called on the Federal Government to expedite economic reforms to save the manufacturing sector, warning that made-in-Nigeria goods are rapidly losing their competitiveness both locally and internationally. In a virtual interview with The PUNCH, the Chairman of MANEG, Odiri Erewa-Meggison, raised the alarm in response to...
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Stanbic IBTC Rights Issue Oversubscribed by 121.97%

20.06.2025
Stanbic IBTC Holdings Plc has announced the conclusion of its Rights Issue of 2,944,772,083 ordinary shares of 50 Kobo each at N50.50 per share, recording an oversubscription of 121.97 per cent. The Rights Issue, which was offered on the basis of five new ordinary shares for every twenty-two ordinary shares held as of the close...
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Auditors Urged to Enhance Defenses

20.06.2025
Members of the Association of Chief Audit Executives of Banks in Nigeria have been urged to up their games in enhancing the efficiency of cybersecurity to curb cyber attacks in the banking sector. The Managing Director/Chief Executive Officer of TajBank, Hamid Joda, made the call while delivering a keynote address at the 61st quarterly general...
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N668bn Surplus, Yet Hunger Persists

20.06.2025
Agricultural stakeholders reckon that the threat of hunger persists in Nigeria despite recording a N668.34bn agricultural surplus and have called for improved food processing and support for local farmers. The value of agricultural exports surpassed imports by N668.34bn in the first quarter of 2025, according to the foreign trade data for Q1 2025 from the...
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Oye Resigns as NACCIMA, OPSN Chairman

20.06.2025
Dele Oye has exited as Chairman of the Organised Private Sector and President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture. In a statement from NACCIMA on Thursday, it was stated that after two impactful years at the helm of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture,...
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Nigerian Stock Market Soars N677bn

20.06.2025
The Nigerian Exchange extended its bullish run on Thursday, as market capitalisation surged by N677bn to close at N74.4tn. This comes amid renewed buying interest in blue-chip stocks across key sectors, propelling the benchmark All-Share Index to 117,861.13 points, up by 1,074.26 points or 0.92 per cent. The bullish sentiment pushed the equity market week-to-date...
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Wema Bank Upgraded to ‘A-‘ by Agusto & Co

20.06.2025
Pan-African rating agency Agusto & Co. has upgraded the ratings of Wema Bank to “A-” from “Bbb+” with a stable outlook. According to a statement on Thursday, the rating, which became effective on June 17, reflected the improving business risk profile of the lender. In the rating report, Agusto & Co. said, “Wema Bank’s profitability...
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United Capital Launches Funds for Francophone Africa

20.06.2025
United Capital Asset Management West Africa Limited, the newest subsidiary of investment firm United Capital, has commenced operations with the launch of two mutual funds targeted at the Francophone West African market. In a statement on Thursday, the firm said that the two CFA franc-denominated mutual funds, the UCAMWAL Bond Fund and the UCAMWAL Diversified...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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