Author: admin

Over the past eight years, Nigerian insurance policyholders have received an impressive total of N1.9 trillion as compensation for insured risks from underwriting firms across the country.  This substantial sum encompasses indemnity for damaged assets and life insurance to cover the loss of lives between the financial years of 2014 and 2022. Analyzing the data breakdown reveals that the insurance sector disbursed N33 billion for life claims and N65.5 billion for non-life claims, contributing to a combined total of N99 billion in claims paid during 2014. The subsequent years also witnessed substantial compensation: In 2015, policyholders were…

Nigeria has witnessed a significant reduction of $915 million in its external reserves subsequent to the Central Bank of Nigeria’s official decision to float the naira and open up the foreign exchange market.  According to data released by the CBN on Sunday, the country’s reserves, which were at $34.66 billion on June 14, 2023, at the time of the naira’s float, have now diminished to $33.74 billion as of August 24, 2023. The value of the naira was marked at 471.67/$ on June 13 at the Investor & Exporter forex window, just a day before the Central Bank’s…

President Bola Tinubu asserted that Nigeria’s current economic strategy, which channels a staggering 90% of its scarce revenue towards servicing external debts, could lead the nation down a perilous path of destruction.  Amidst the backdrop of mounting development challenges, the President urged the country to embrace vital reforms to reshape its destiny. Speaking at the Annual conference of the Nigerian Bar Association held at the Velodrome, Chief MKO Abiola Stadium, Abuja,Tinubu expressed his concerns about the sustainability of the nation’s financial approach. The president who spoke before an assembly of 16,190 legal professionals,said  “Can we continue to…

Six security personnel employed by a private security firm and stationed at the Rivers headquarters of Winners Chapel Church, located on Kaduna Street, D-line, Port Harcourt, have been apprehended by local authorities on suspicion of stealing and attempting to sell valuable church property. The suspects, who were part of the security detail responsible for safeguarding the church’s premises, were intercepted by members of the PHALGA Security Watch while in the act of transporting heavy iron rods and other valuable items belonging to the church to an undisclosed location within D-Line, with the intent to sell them. According to…

By Israel Adeleke Owalla, Uratta Autonomous community in Owerri North council Area of Imo state witnessed a fervent protest as residents came together to voice their concerns over the purported takeover of their ancestral lands.  The protest, uniting elderly citizens, women, and youth, aimed to draw the attention of Imo state’s Governor, Hope Uzodimma, to the unsettling situation. In a demonstration that unfolded on Sunday, the protesters accused suspected government agents, allegedly acting through the Ministry of Lands, of forcefully seizing their lands.  The protestors recounted how this land seizure had already led to severe consequences,…

In a harrowing turn of events that has left the entire Ogun state in shock, a staggering 25 lives have been tragically cut short within a mere span of one week, all linked to the consumption of a mysterious local gin. DAUD OLATUNJI,Editor, captures the mood . Among the victims, six close friends shared a common fate, falling victim to the lethal effects of an unidentified brand of local gin. The devastation has left an indelible mark on five distinct locations, spreading its sinister grip across three local government areas of Ogun state.  The swift and unrelenting…

By Abiodun Komolafe In an interview with journalists recently, the Elegboro of Ijebu-Jesa in the Oriade Local Government Area of Osun State, Oba Moses Oluwafemi Agunsoye stated that “no one can sit on the throne as a monarch nowadays without having good money”. According to the first class monarch, “gone are those days when people brought things to the palace, where the Kabiyesi would sit down and expect manna from heaven. Now, it is the palace that is giving out … So, an Oba must be up and doing, must have a job, or source of handsome income…

Fawaz Adebisi The National Security Adviser, Nuhu Ribadu, has revealed that despite ongoing efforts to combat the issue, the country is still losing 400,000 barrels of crude oil daily to both local and international thieves. Ribadu, as part of a presidential delegation, confirmed this during an inspection of oil and gas facilities in Owaza, Abia, and Odogwa, Etche Local Government Area of Rivers. The activities of oil thieves and pipeline vandals have severely impacted the nation’s economy, contributing to the rise in the cost of living, Ribadu lamented. In his words, despite Nigeria’s capacity to produce 2 million barrels of…

In the midst of anticipation for the verdict of the Governorship Tribunal in Kano, a prominent figure, Imam Sheikh Sani Hashir, took the lead in a prayer session for success.  On Saturday, Governor Abba Kabir Yusuf, Deputy Governor Comrade Aminu Abdulsalam Gwarzo, Senator Rabi’u Musa Kwankwaso of the New Nigeria People’s Party (NNPP), and other notable figures joined in the prayers for triumph. The prayer assembly, held at Filin Mahaha opposite Kofar Naisa along BUK Road in Kano, saw the participation of Dr. Abdullahi Baffa Bichi, Secretary to the State Government, members of the Kano State Executive Council,…

Edo State Governor, Godwin Obaseki, has leveled serious allegations against the Federal Government, accusing them of stifling his ability to voice concerns over governmental decisions. In a recent statement, Obaseki expressed his concern that the Federal Government’s intentions to curtail free speech and suppress honest dialogue could hinder Nigerians’ ability to address the pressing issues facing the nation. Tensions escalated after the Federal Government criticized Obaseki for his remarks on Nigeria’s economic situation. The governor had previously attributed the country’s worsening conditions to unfavorable policies adopted by the Federal Government. Obaseki specifically targeted President Bola Tinubu’s administration,…