Author: Akintayo Adams

The Nigerian Stock Exchange (NGX) experienced a significant loss of ₦83 billion between September 2 and 6, 2024, as both the All-Share Index (ASI) and market capitalization depreciated by 0.15 percent. The ASI closed at 96,433.53 points, while the market capitalization settled at ₦55.39 trillion, primarily due to sell-offs in major stocks. Despite the overall bearish trend, the NGX Oil and Gas Index stood out, posting a 1.52 percent gain during the week. In terms of trading activity, 2.14 billion shares worth ₦51.22 billion were traded across 55,603 deals, marking a decline from the previous week’s 2.82 billion shares valued…

China announced on Monday that it will conduct joint military drills with Russia this month, as both nations strengthen their strategic alliance, particularly in the wake of ongoing global tensions. The “North-Joint 2024” exercises will involve naval and air forces and will take place in the skies and waters surrounding the Sea of Japan and the Sea of Okhotsk, off Russia’s eastern coast. China’s defense ministry stated that the drills aim to bolster the strategic cooperation between the Chinese and Russian militaries and enhance their joint capabilities in responding to security threats. In addition to these drills, China will also…

Super Eagles striker Victor Osimhen has shared details of the communication he had with teammate Semi Ajayi before scoring his stunning acrobatic goal in Nigeria’s 3-0 victory over Benin Republic in Saturday’s 2025 Africa Cup of Nations (AFCON) qualifier. Osimhen came off the bench in the second half to score the impressive goal at the Godswill Akpabio International Stadium, with Ademola Lookman scoring a brace earlier in the match. Speaking on the Counter Attack Podcast, Osimhen revealed that he instructed Ajayi in Yoruba, telling him to leave the ball for him to strike. Osimhen said, “I told him in Yoruba,…

The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a warning to Nigerians regarding the activities of Christ Mercy Land Deliverance Ministries, led by Prophet Jeremiah Fufeyin. According to NAFDAC’s Director General, Prof. Mojisola Adeyeye, the faith-based organization has been using NAFDAC’s name to deceive the public by advertising and selling unregistered products, such as Miracle Water and Miracle Soap, claiming they can cure barrenness and other ailments. In a statement released on Sunday, NAFDAC clarified that none of these products are registered with the agency. The ministry had falsely claimed that their products were NAFDAC-approved,…

The people of Moriki town in Zurmi LGA of Zamfara State have reportedly convinced notorious bandit leader Bello Turji to reduce the ransom he imposed on them from N50 million to N30 million, with a Wednesday deadline for payment. The ransom is demanded as compensation for the killing of Turji’s cows by the new commander of the Army base in Moriki. Each family head has been instructed to contribute N10,000, while unmarried adults are required to pay N2,000. Despite the Army commander’s advice against paying the ransom and his assurance to prevent further harm to Turji’s animals, the villagers fear…

Nigeria’s Folashade Oluwafemiayo has set a new world record in the women’s over 86kg Para-Powerlifting event, becoming the first para-athlete in history to lift 166kg, surpassing her previous record of 165kg. Along with breaking the world record, she secured a gold medal, contributing to Nigeria’s success at the Paralympics. In other outstanding performances, Flora Ugwunwa earned a silver medal in the Women’s Javelin F54 category with a remarkable throw of 19.26 meters, while Bose Omolayo won silver in the Women’s 79kg Para Powerlifting event with a lift of 145kg. Additionally, Isau Ogunkunle made history by securing a bronze medal in…

In response to the economic hardships affecting many in the country, Rev. John Eze, the Methodist Bishop of Nsukka, has donated free fuel to motorbike riders in Eha Amufu, located in Isi-Uzo Local Government Area of Enugu State. This generous gesture, which took place at the Eha Amufu Motor Park, aimed to provide financial relief to commercial motorcyclists and help commuters. Bishop Eze expressed his joy at the positive impact, stating, “I am thrilled to see the smiles on the faces of these hardworking bike riders.” He emphasized the church’s role in supporting the community and making a difference in…

Napoleon Osorio proudly holds the title of being the first taxi driver to accept bitcoin as payment in El Salvador, the first country to adopt the cryptocurrency as legal tender. This decision, made by President Nayib Bukele three years ago, has profoundly impacted Osorio’s life. Once unemployed, Osorio now operates his own business, accepting bitcoin payments through an app and running a car rental company. He credits John Dennehy, the US founder of the NGO My First Bitcoin, for encouraging him to embrace cryptocurrency. Osorio’s success includes 21 drivers under his Bit-Driver brand and the ability to buy four rental…

Former Vice President Atiku Abubakar has strongly criticized the recent increase in Value Added Tax (VAT) from 7.5% to 10% under the administration of President Bola Tinubu. Atiku warned that this move, alongside rising fuel prices, will deepen Nigeria’s cost-of-living crisis and worsen economic conditions for the average citizen. In a statement shared on his X handle on Sunday, Atiku expressed concern that the VAT hike would further burden already struggling Nigerians while the government indulges in luxurious expenditures. He argued that the increase in taxes and interest rates has led to business hardships, job losses, and exacerbated poverty. Atiku…

In a newly released video, notorious bandit leader Bello Turji issued a severe warning to the Hausa people of Northwestern Nigeria, accusing them of being “traitors and hypocrites” responsible for past killings of Fulani individuals and their livestock. Turji threatened to continue attacking the Hausa community if such violence against the Fulani does not cease. The video, released on Wednesday night, shows Turji blaming the Hausa for the deaths of Fulani people, stating that his group’s primary targets are not security forces, but the Hausa population. Turji warned, “You will not harvest your farms. If you dare to, you will…