Author: Platform Times Newspaper

In a display of unwavering confidence in the strength and potential of Sterling Financial Holdings Company Limited, the company’s directors have taken decisive action by acquiring additional shares worth N514 million. On August 31, 2023, four key directors, including Group Managing Director and Chief Executive Officer Yemi Odubiyi, engaged in insider dealings that resulted in the acquisition of a substantial 155,837,316 ordinary shares of the company from the secondary market of the NGX Ltd. These shares were purchased at a unit price of N3.30, totaling N514,263,142.8. Abubakar Suleiman, a Non-Executive Director of Sterling Financial Holdings Company Limited, led the charge…

Tragedy was narrowly averted on Tuesday as five individuals narrowly escaped death on Ureje River in Ado Ekiti, Ekiti State. The river overflowed its banks along Federal Polytechnic Road, Ado Ekiti, causing extensive damage to nearby structures. The five individuals were reportedly traveling from the Ureje area when they encountered the heavily flooded bridge. Their attempts to cross the bridge were thwarted as they were swept away by the fast-flowing water, which carried them into the river’s valley. An eyewitness in Ado Ekiti recounted the incident, stating that the victims, in danger of drowning, were fortunate to be rescued by…

The World Bank Country Director for Nigeria, Shubham Chaudhuri, has highlighted that Nigeria’s public spending is among the lowest worldwide.  He made this observation during his keynote address at the annual banking and finance conference held in Abuja on Tuesday. Chaudhuri’s presentation underscored that “Nigeria’s government expenditures are the lowest globally,” and he emphasized that public spending at both the federal and subnational levels in Nigeria has been notably low. Furthermore, Chaudhuri’s presentation revealed a staggering disparity in capital spending, stating, “At the current rate of capital spending, it would take 300 years to close Nigeria’s infrastructure gap.” Comparatively, Nigeria’s…

The Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, has announced that the apex bank is committed to clearing all foreign exchange backlogs within the next two weeks. Shonubi revealed this during a discussion in Lagos, where he emphasized the CBN’s collaboration with commercial banks to address the challenge of FX backlogs, which some analysts estimate to be around $10 billion. “The banks have been working with the central bank on various structures to clear the backlog. As a matter of fact, there’s a large amount of the obligations that the banks have already taken up so…

President Bola Tinubu held a crucial meeting with Mr. Prakash Hinduja, the Chairman and CEO of the Hinduja Group of Companies, during his visit to New Delhi yesterday. The Hinduja Group is a conglomerate boasting a vast asset portfolio exceeding $100 billion. Presidential spokesman Ajuri Ngelale, in an official statement, revealed that the Indian industrialist was received by President Tinubu within just 90 minutes of his arrival in India, commencing their meeting at around 8:00 pm local time. Accompanied by the Ministers of Finance, Trade & Industry, and Foreign Affairs, President Tinubu emphasized his primary goal in India: attracting investments…

By Wisdom Silas Former Aviation Minister, Osita Chidoka, has issued a strong advisory to Nigerians, urging them to firmly reject any calls for military intervention and steadfastly uphold democracy as the preferred system of governance. Chidoka passionately encouraged Nigerians to champion the cause of democratic growth, emphasizing that democracy remains the most suitable option for the nation, far superior to military intervention. He made these remarks during the 60th birthday National Dialogue held in honor of Prof. Udenta O. Udenta. Chidoka asserted that military intervention would not bode well for the country.  Chidoka therefore, called upon the citizens of Nigeria…

The presentation of the “breakdown of the fund released to Local Governments in Ogun for the Execution of Developmental Projects Between Year 2020 to date” by the Chief Economic Adviser, Mr. Dapo Okubadejo along with the Secretary to the State Government, Mr. Tokunbo Talabi further blew the wind that clearly uncovered their concealed rump. When I first read the curriculum vitae of Dapo Okubadejo, I had tremendous professional respect for him, but this show of charade engaged in to protect the government mirrors unprofessionalism and perfidiousness to the public. As an Accountant and Auditor of over 35 years in practice,…

The National Hajj Commission of Nigeria (NAHCON) has instructed state Muslim pilgrims’ welfare boards to commence preparations for the 2024 pilgrimage to Saudi Arabia. In response, NAHCON has established a tentative fare of N4.5 million per slot for the pilgrimage and directed the affected boards to start collecting deposits from prospective pilgrims within their respective states. Saudi Arabia authorities have already allocated 95,000 slots to Nigeria for the upcoming year’s pilgrimage, with 71,000 seats distributed among the 36 states, the Federal Capital Territory (FCT), and the Nigeria Armed Forces. The directive was issued by NAHCON Chairman, Zikrullah Hassan, during a…

Former President Muhammadu Buhari has expressed his elation over the ruling of the Presidential Election Petitions Court (PEPC) on Wednesday night, which upheld the victory of the All Progressives Congress (APC) and its candidates, President Bola Ahmed Tinubu and Vice President Kashim Shettima, in the February 25 election. In a statement released by his media aide, Garba Shehu, the former President praised the PEPC for “making history” by adhering to the law and delivering justice without succumbing to intimidation or bias.  He emphasized that the verdict is a win for democracy and the people. “If anybody has won today, it…

The Nigeria Labour Congress (NLC) concluded its two-day warning strike,on Wednesday,emphasizing its readiness for a potential indefinite nationwide strike later this month if the government fails to address its demands stemming from unmet agreements concerning fuel subsidy removal. Comrade Joe Ajaero, the NLC national president, made this announcement in a press statement in Abuja.  He underscored that the warning strike marked the beginning, not the end, of their struggle.  Ajaero hailed the success of the warning strike, attributing it to the commitment and resilience of Nigerian workers and citizens in defending their welfare and rights while holding the government accountable…