Ayomide Otitoju The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced on Tuesday that the country’s foreign reserves have increased by 12.74%, reaching $39.12 billion as of October 11, 2024. This was revealed during his appearance before the House of Representatives Committee on Banking Regulation. Cardoso highlighted that Nigeria’s foreign reserves stood…
By Ayomide Otitoju A petrol tanker explosion in Majiya Town, Taura Local Government Area of Jigawa State, resulted in a devastating loss of life early Wednesday morning, leaving over 90 people dead and 50 others severely injured. The explosion occurred around 12:30 AM when a tanker traveling from Kano to Nguru, Yobe State, overturned near…
The National Industrial Court in Ibadan on Tuesday ordered Nestle Nigeria PLC to pay N10 million in compensation for negligence, resulting in an injury sustained by one of its employees, Ilesanmi Temokun. Temokun, through his counsel, Mr. Tope Temokun, had filed a lawsuit against Nestle Nigeria and Mary Bolajoko Consultancy Services Limited, seeking damages after…
The World Bank has announced a $500 million grant to bolster Nigeria’s ongoing recovery efforts from the impacts of the COVID-19 pandemic. The funds will be channeled through the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme, which was launched in 2021 to provide relief to poor households and micro, small, and medium…
The Peoples Democratic Party (PDP) Governors Forum has directed warring factions within the party to return to the status quo in a bid to resolve ongoing internal conflicts. The directive was issued by the Chairman of the Forum and Bauchi State Governor, Bala Mohammed, following a meeting of PDP governors that concluded early Tuesday. Addressing…
President Bola Tinubu has extended his heartfelt condolences to former Oyo State Governor, Senator Rashidi Ladoja, following the death of his wife, Alhaja Mutiat Ladoja. In a message delivered on Tuesday by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu expressed deep sorrow over the loss, offering prayers for strength and comfort…
Nigeria’s national electricity grid suffered another collapse on Tuesday, plunging millions of people into darkness. The latest incident occurred less than 24 hours after power distribution companies reported a previous grid collapse at around 6:48 p.m. on Monday, disrupting electricity supply nationwide. In a statement released on X (formerly Twitter), Eko Electricity Distribution Company (EKEDC),…
By Ayomide Otitoju The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, has expressed deep gratitude for the outpouring of support following the death of his daughter, Fatima. In a statement shared via X on Monday, Kyari reflected on her life, acknowledging her passing as part of divine will…
By Ayomide Otitoju The Lagos State High Court has directed controversial social media critic, Martin Otse, known as VeryDarkMan, to take down defamatory comments and videos targeting prominent lawyer and human rights activist, Femi Falana (SAN), and his son, popular musician Folarin Falana, also known as Falz. In a ruling delivered by Justice M.O. Dawodu…
