By Ayomide Otitoju In a strategic move to support a slowing economy, the Bank of Canada reduced its key lending rate by 50 basis points to 3.25 percent on Wednesday. This marks the fifth rate cut since June, following a series of increases earlier in 2023 aimed at controlling inflation, which has now stabilized at…
By Ayomide Otitoju Amnesty International has urged the Mozambican government to “end its bloody crackdown on protesters” following violent demonstrations that erupted after disputed presidential elections held in October. The human rights organization reported that at least 110 people have been killed in the unrest, which has gripped the southern African nation since the polls…
By Ayomide Otitoju The High Court of the Federal Capital Territory in Abuja has granted an interim injunction restraining Lagos-based lawyer Dele Farotimi from publishing, selling, advertising, or distributing his book titled “Nigeria and Its Criminal Justice System.” The order, issued by Justice Peter Kekemeke, follows an ex parte application filed by Kehinde Ogunwumiju, a…
By Ayomide Otitoju The management of Dangote Cement Plc in Ibese, Ogun State, has awarded scholarships totaling N16,215,000 to 120 indigent students as part of its 2024 Community Day celebrations. This initiative underscores the company’s commitment to enhancing the lives of residents in its host communities, which it regards as essential partners in fostering economic…
By Ayomide Otitoju Shareholders of United Bank for Africa (UBA) have reaped substantial rewards, enjoying capital gains of 375 percent over the past five years, according to official data from the Nigerian stock market. Investors in UBA have realized an impressive average annual return of approximately 75 percent, underscoring the bank’s status as a high-yielding,…
By Ayomide Otitoju Access Holdings Plc has officially launched Access Bank Malta Limited, a wholly owned subsidiary of Access Bank UK Limited. This strategic initiative aims to bolster trade connectivity between Europe and Africa, furthering the group’s expansion goals. In a corporate notice filed with the Nigerian Exchange (NGX) on Wednesday, company secretary Sunday Ekwochi…
By Ayomide Otitoju Accion Microfinance Bank has announced ambitious plans to provide approximately N60 billion in loans to micro, small, and medium enterprises (MSMEs) across Nigeria by 2025. This projection was shared by Taiwo Joda, the Managing Director and Chief Executive Officer of Accion Microfinance Bank, during a conversation with journalists after the bank’s annual…
By Ayomide Otitoju The United Nations Children’s Fund (UNICEF) celebrates 78 years of championing children’s rights and well-being globally, with widespread recognition of its contributions to reducing child mortality, enhancing education, and supporting vulnerable communities. Joining the global commemoration, Hon. Folakemi Agboola, a chairmanship aspirant in Ejigbo LCDA, Lagos State, highlighted the importance of advocating…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has revealed the discovery of 34 illegal refineries and 17 unauthorized pipeline connections in the Niger Delta region within one week, as part of its ongoing “War on Crude Oil Theft” initiative. In a documentary released on its official YouTube channel, NNPCL detailed operations carried…
