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FG approves $2.2bn external borrowing

15.11.2024
The Federal Executive Council on Thursday approved a $2.2bn external borrowing plan. This is part of the Federal Government’s external borrowing programme for the 2024 Appropriation Act, the Finance Minister, Mr Wale Edun, told State House Correspondents after the Federal Executive Council meeting at the Aso Rock Villa, Abuja. The financing initiative will combine Eurobond...
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Ponzi scheme operators risk jail, N20m fine – SEC

15.11.2024
The Securities and Exchange Commission has proposed a N20m fine and jail terms for Ponzi scheme operators to protect Nigerians from illegal fund managers. SEC made the proposal in the Investments and Securities Bill (ISB) 2024 currently before the National Assembly, where it is also seeking an express prohibition of Ponzi/pyramid schemes and other illegal...
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CBN, finance minister express concerns over investment bill

15.11.2024
Key government agencies and stakeholders have expressed differing concerns over the proposed Investment and Securities Bill 2024. The bill, which is intended to repeal the Investment and Securities Act of 2007 and enact new regulations for Nigeria’s capital market, drew feedback from the Central Bank of Nigeria and the Ministry of Finance, who caution that...
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Noor Takaful mulls capital market listing

15.11.2024
One of Nigeria’s Islamic finance operators, Noor Takaful Insurance Limited, has revealed it is considering listing on the capital market. This was disclosed by the Vice Chairman of the firm, Aminu Tukur, on the sidelines of the just concluded African Takaful and Non-Interest Finance Conference, organised by Noor Takaful Insurance Limited in Lagos. Tukur pointed...
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Fuel importation hasn’t stopped – NNPC

15.11.2024
The Nigerian National Petroleum Company Limited says it has not stopped the importation of petroleum products into the country. NNPC spokesperson, Olufemi Soneye, disclosed this in a statement on Thursday. Soneye said the state-owned petroleum company would still source for products from outside the country when there is a need for that. Soneye confirmed that...
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Aba Power asks NERC to raise tariff

15.11.2024
Customers under the franchise of Aba Power Limited Electric may need to brace up for a tariff hike as the company seeks about 97 per cent tariff increase. From N122 per kilowatt-hour, Aba Power is requesting the Nigerian National Electricity Regulatory Commission to raise its allowed tariff to N240/kWh. The NERC confirmed in a document...
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FirstBank sponsors inaugural Lagos theatre festival

15.11.2024
FirstBank Nigeria Limited has revealed the motivation for sponsoring the Lagos International Theatre Festival, which it called the first of its kind in the state. Speaking at a press briefing on Wednesday, the Managing Director of FirstBank, Olusegun Alebiosu, who was represented by the Executive Director, Retail Banking South, Seyi Oyefeso, said it was part...
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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
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

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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