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The Nigerian Exchange Limited (NGX) has proposed a plan to allow companies to list bonds denominated in dollars on the bourse, aiming to address the challenges posed by fluctuations in foreign currency. The initiative targets companies operating from special economic free trade zones and those earning foreign currency. NGX is also working with the Securities and Exchange Commission (SEC) to amend regulations, enabling selected companies to pay dividends in dollars. Stakeholders have expressed mixed views on the move, with concerns about repayment risks and the potential long-term impact on the Nigerian economy.
The Nigerian Army has successfully thwarted an attack by gunmen loyal to the outlawed Indigenous People of Biafra (IPOB) in Onitsha, Anambra State. One gunman was neutralized, while two others were arrested during the security operation. The Army recovered ammunition, a vehicle, a mobile phone, and a machete from the scene. The joint forces of the Nigerian Army and Nigerian Hunters and Forest Security Service (NHFSS) have been actively engaged in combating terrorism in the southeast region.
Youths who are members of the All Progressives Congress (APC) are split over who should be named the new minister of youth. Some argue that Seyi is deserving of the post because he "painstakingly strengthened" the youth wing of the APC, while others have different opinions.
Delta State Chairman of the Association of Local Governments of Nigeria (ALGON), Barrister Victor Ebonka, has announced that local government workers in the state will receive the same palliative packages as state public service workers. This decision comes as the government seeks to ease the financial burden caused by the removal of fuel subsidies. Alongside the additional monthly allowance of N10,000, local government workers will also be placed on a similar work schedule to their state counterparts.
In a series of devastating attacks by the terrorist organization Boko Haram in northeastern Nigeria, 13 people have lost their lives. The attacks targeted a military base and a group of farmers, highlighting the ongoing threat of violence by Boko Haram in the region.
The Parliament of the Economic Community of West African States (Ecowas) has decided to send its own mediation team to Niger's new military junta amid the conflict between the junta and neighboring states. This move comes after the Ecowas heads of state ordered the activation of a military readiness force to restore constitutional order in Niger. The junta has so far refused to meet with official Ecowas delegations.
A delegation of Muslim clerics from Nigeria arrived in the capital city on Saturday to hold talks with the military junta that has seized power. The meeting comes amid a delay in the planned ECOWAS summit to discuss the crisis. Diplomatic efforts have so far failed to resolve the situation, and the junta has placed its military on high alert. Concerns also remain over the fate of the ousted Nigerian president, Mohamed Bazoum, who has been under house arrest since the coup on July 26th.
Abiodun Deborah, a mother from Lagos, Nigeria, is pleading with Governor Babajide Sanwo-Olu to investigate the mysterious disappearance of her son's small intestine after a surgical procedure at the Lagos State University Teaching Hospital (LASUTH). The distraught mother hopes to find answers and justice for her son's condition, which now requires expensive intravenous nutrition and potentially a life-saving intestinal transplant not available in Africa.
Fidelity Bank has achieved remarkable financial success, with its profit before tax reaching a five-year high. The bank's impressive growth in gross earnings and interest income, driven by a combination of improved yield on earning assets and loan expansion, has contributed to its stellar performance. As a result, Fidelity Bank has proposed a final dividend payment for the year 2022. The bank's strong financial performance positions it as a key player in the Nigerian banking industry.
Two women, one Nigerian and one Italian, have tragically died in Turin prison. The Nigerian woman, Susan John, refused food and medical assistance for weeks before her death. The Italian woman, who had been transferred from Genoa, took her own life in her cell. These deaths highlight the dire conditions within Italian prisons, particularly in Turin, and raise concerns about prisoner welfare and mental health support.
Senators in Nigeria have received N2 million each as a travelling allowance for the recess period until their resumption in September. This comes after Senate President Godswill Akapbio referred to the payment as a 'token' during a live plenary session. The total sum of N218 million was distributed among the 109 Senators in the upper chamber. While it is confirmed that the Senators received the allowance, it is yet to be clarified if the principal officers also received the N2 million vacation allowance.
The Nigerian Department of State Services (DSS) plays a crucial role in maintaining national security. This article provides an in-depth look at the ranks and salary structure within the DSS, shedding light on the hierarchy and remuneration of its officials.
The Central Bank of Nigeria (CBN) has released its financial report for 2022, showcasing a profit of N65.63 billion. The report also highlighted a controversial N23.18 trillion loan granted to the Federal Government, surpassing the statutory limit by N22.9 trillion. The bank's group performance resulted in a profit of N103.85 billion for the same year.
The widespread use of the term "low- and middle-income countries" in global health literature is problematic and perpetuates inequalities. This article highlights the need to abandon this term and adopt a more equitable language to describe countries in the Global South. It emphasizes the importance of customized studies, bi-directional knowledge transfer, and the inclusion of local knowledge in addressing healthcare challenges. It argues for the use of "Global South" and "Global North" as more equitable alternatives in research vocabulary.
The recent ministerial nominations by APC in Delta State have exposed the party's lack of sensitivity to the diversity of the state. With the choice of two ministers from the same ethnic group and senatorial district, the party has shown a divisive mindset. This article explores the historical context of power rotation in Delta State and criticizes the APC's decision as a disregard for inclusivity and fair representation.
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