In an environment where corporate accountability and financial transparency are paramount, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has come under intense scrutiny following allegations of financial misconduct. Reports have surfaced accusing the state-owned oil giant of owing $6.8 billion to foreign oil merchants and failing to remit its share of the Federation Account…
Murtala Yakubu Ajaka, the Social Democratic Party (SDP) candidate in the 2023 Kogi State gubernatorial election, has expressed confidence in a favorable outcome as the Supreme Court reserved judgment in the ongoing legal battle over the governorship seat. Ajaka has been locked in a protracted legal dispute with Governor Ahmed Usman Ododo of the All…
The military governments of Burkina Faso, Mali, and Niger have jointly addressed the United Nations Security Council, accusing Ukraine of supporting rebel groups in the Sahel region of West Africa, according to a statement from Mali’s foreign ministry. This move follows the severing of diplomatic relations between Mali and Ukraine in early August. The break…
The Federal Government of Nigeria has outlined specific identification requirements for its new financial instrument, the Domestic FGN US Dollar Bond, according to a Frequently Asked Questions (FAQ) document released by the Debt Management Office (DMO) on its website. To subscribe to the Domestic FGN US Dollar Bond, which was launched on Monday as part…
By Ayomide Otitoju governorship election approaches, the spotlight is firmly on Dr. Asue Ighodalo, the People’s Democratic Party (PDP) candidate, who is emerging as a leading figure in the race. While contenders like Monday Okpevhbolo of the All Progressives Congress (APC) and Olumide Akpata of the Labour Party vie for attention, Dr. Ighodalo’s distinguished leadership…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC) has disclosed that the Federal Government accumulated a debt of N5.1 trillion in under-recovery and energy security expenses related to fuel importation in 2023. Additionally, a total of N9.38 trillion, described as receivables, was incurred by the national oil company on behalf of the government…
BUA Foods Plc has entered into a significant agreement with Turkish flour milling equipment manufacturer IMAS to construct four state-of-the-art wheat and flour milling factories. The new facilities will have a combined milling capacity of 3,200 tonnes per day, marking a major expansion in BUA Foods’ production capabilities. In a statement released on Tuesday, Adewunmi…
Chelsea manager Enzo Maresca dismissed claims on Wednesday that he was overseeing a “mess” of a squad following the club’s latest round of transfer activity. Portuguese forward João Félix has signed a seven-year contract with Chelsea, marking his return to Stamford Bridge after a less-than-impressive loan spell from Atlético Madrid during the 2022/23 season. Félix’s…
The Economic and Financial Crimes Commission (EFCC) has firmly denied allegations that its officials were involved in sharing forfeited assets linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and his associates. In a statement released on Wednesday, EFCC spokesperson Dele Oyewale refuted an online report claiming that the anti-graft agency had distributed…
