Author: Akintayo Adams

President Bola Tinubu is accused by 2023 Peoples Democratic Party (PDP) presidential contender Atiku Abubakar of forcibly seizing control of the Nigeria National Petroleum Company Limited’s (NNPCL) finances. According to Atiku, Tinubu extorted money from NNPCL and sent it to the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance. He stated in a post on X that Tinubu’s move is morally and legally illegitimate because it goes against the due process rights. Quoting the former Vice President: “By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the…

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has stated that around 81% of Nigerians who are employed work in the non-productive sector of the nation’s economy. Speaking on Thursday at an Africa Trade and Investment Summit, Oyedele revealed this. He claims that although while Nigeria’s unemployment rate is 4.2%, which is comparable to that of the UK, the majority of working Nigerians do not significantly boost the national economy. According to him, this is the main cause of the poverty that most Nigerians experience. According to Oyedele, the federal government must provide respectable…

In the midst of the foreign exchange crisis, the Central Bank of Nigeria, or CBN, has released new guidelines for International Money Transfer Operators operating in Nigeria. This was revealed by the top bank in a recent circular signed by Hassan Mahmud, the director of trade and exchange, and titled “Reviewed Guidelines of International Money Transfers in Nigeria.” According to the apex bank, IMTOs are prohibited from doing any outbound transactions and are required to purchase foreign exchange for settlement from the domestic foreign exchange market. Additionally, it forbade all banks and financial technology firms from acting as agents while…

In 26 states having byelections on Saturday, Olukayode Egbetokun, the Inspector General of Police, has issued an order restricting all vehicular movement on roads, canals, and other kinds of transit from 12 a.m. to 6 p.m. This is in addition to those who are doing vital tasks, such as firefighters, authorised media, members of the Independent National Electoral Commission, ambulances responding to medical emergencies, and election observers. Ebonyi, Yobe, Kebbi, Lagos, Ondo, Taraba, Benue, Borno, Kaduna, Plateau, and Akwa Ibom are the states that are impacted. The remaining states are Kano, Nasarawa, Niger, Oyo, Sokoto, Anambra, Cross River, Delta, Enugu,…

The monarchs of Ekiti state have vowed to use customary techniques, such as calling on the Yoruba gods, to combat kidnappers who are causing fear throughout the state. The criminals, who had previously only operated in the North-West, have besieged the South-West in recent weeks and wreaked havoc on the local populace. They assassinated Oba Olatunde Olusola, the Onimojo of Imojo, and Oba Babatunde Ogunsakin, the Elesun of Esun Ekiti, on Monday. Oba Adebayo Fatoba, the Alara of Ara Ekiti, just made it out alive. On Monday, while returning from an event in Kogi State, the traditional rulers encountered a…

Sawane Youssouf, a Malian miner in Ibadan, Oyo State, has denied being the owner or tenant of the structure where a fatal explosion happened last week. Five persons were killed, 77 injured, and 58 houses in Adeyi, Old Bodija, Ibadan, were damaged in the incident, which was blamed on stored explosives. It is thought that Youssouf is the owner of the structure where the explosion occurred at Adeyi, Old Bodija, Ibadan, which resulted in five fatalities, 77 injuries, and damage to 58 dwellings. On Wednesday, Governor Seyi Makinde signed Executive Order 001, 2024, on the handling and storage of hazardous…

The Association of Bureau De Change (BDC) Operators’ Abuja chapter has declared that as of Thursday, February 1, 2024, its business location will be indefinitely closed. The Association’s head, Abdulahi Dauran, explained that the decision was made due to the lack of US dollars, but he also mentioned that the lack of dollars was caused by bitcoin and online banking activities. According to reports, the value of the Naira at the official end of the market declined significantly, with some trades closing at N1,513 per dollar, even though the Central Bank of Nigeria (CBN) cleared off the verified backlog of…

Femi Otedola, a Nigerian billionaire and businessman, has been named as the new chairman of the board of directors of First Bank of Nigeria Holdings. After a seven-year break, Otedola announced his excitement to be back on Forbes’ African Billionaires list. He succeeds Alhaji Ahmad Abdullahi, the departing chairman of the board. He posted a photo of the announcement to his Instagram feed, labeling it as “Interesting” and including dollar and cheerful emojis. The 61-year-old businessman, whose net worth is $1.1 billion, is presently ranked 20th on the list. Otedola’s comeback contributed to the 2024 list of 20 billionaires’ worth,…

The recent expulsion of Mali, the Niger Republic, and Burkina Faso from the Economic Community of West African States, or ECOWAS, has alarmed stakeholders, who claim it presents grave questions regarding Nigeria’s security. The development coincides with claims of infiltration and conclusions from Western nations, particularly the USA and Russia, with a significant concentration of Wagner Brothers fighters in the area. According to a report by DAILY POST, Niger, Mali, and Burkina Faso said on Sunday that they were leaving ECOWAS because of what they described as unlawful and cruel sanctions imposed on them after their respective country’s coups. In…

The election of Ahmadu Fintiri as the legally elected governor of Adamawa State has been confirmed by the Supreme Court. Fintiri of the Peoples Democratic Party (PDP) was proclaimed the victor of the March 11 governor’s race by the Independent National Electoral Commission (INEC). However, Senator Aisha Dahiru Binani of the All Progressives Congress (APC) contested his victory in court.