A member of the governorship campaign council of the Peoples Democratic Party, PDP, in Edo State, Regina Oviaesu, has accused the Independent National Electoral Commission, INEC, of deliberately frustrating their legal efforts. DAILY POST reported that INEC declared Monday Okpebholo of the All Progressives Congress, APC, as the winner of the election. Okpebholo won 11 local government areas, while PDP candidate Asue Ighodalo won 7, leaving, Olumide Akpata of the Labour Party, LP, with none. INEC’s Returning Officer, Prof. Faruk Adamu Kuta, the Vice-Chancellor of the Federal University of Technology, officially announced Okpebholo as the winner of the election. Okpebholo,…
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His Excellency, Dr Ernest Bai Koroma; former president of the Republic of Sierra Leone has commended the Stanley Uzochukwu Foundation for its laudable efforts on human capital development, empowerment and job creation that are hugely impacting the Nigerian economy. Stanley Uzochukwu Foundation has organized mentorship and business master class for the selected 80 SMEs the Foundation had empowered with N40 million Naira. H.E Dr Koroma gave the commendations during the grant ceremony of the Stanley Uzochukwu Foundation empowering 80 Nigerian Small and Medium Enterprises (SMEs) with fouty million naira (N40m) held at The Delborough Lagos hotel in Lagos, Nigeria on…
Minister of the Federal Capital Territory, FCT, Nyesom Wike, has accused Governor Siminalayi Fubara of being the architect of the ongoing political crisis in Rivers State. Wike made the accusations on Tuesday while speaking on Channels Television’s Politics Today programme. The minister said the governor was wrong to go ahead with the local government election. He said: “No person who believes in peace and stability of any nation will say he supports violence, will say he wants to support destruction, will say he doesn’t want people to live in harmony. “But what’s important is that when there’s violence, when there’s…
The Nigerian Senate on Tuesday lamented the increase in the menace of brain drain rocking Nigerian universities and other critical sectors of the country. To tackle the trend, it called on the Nigerian government to increase its yearly budgetary allocations to solve infrastructural decay and enhance monthly enumerations of lecturers. It also mandated its relevant committees to relate with the Ministries of Finance, Education, Health and other relevant agencies to work out modalities for checking the increasing spate of brain drain. The Senate’s resolutions followed a motion sponsored to that effect by Senator Anthony Ani, representing Ebonyi South Senatorial District.…
The president of Nigeria’s Senate, Godswill Akpabio, has called for the deepening of bilateral cooperation between Nigeria and the Republic of Korea. Akpabio made the call on Tuesday while receiving in his office at the National Assembly in Abuja the ambassador of the Republic of Korea to Nigeria, Kim Pankyu and some officials of the Korean embassy. Senate President Akpabio described the visit as a “major milestone,” stressing that it would further consolidate the bond between the two countries. He said: “There are many areas of cooperation, such as the burning issue of climate change, of which Nigeria is one…
The Senate on Tuesday approved the establishment of Federal University of Technology, in Ilaro, Ogun State and Federal University of Applied Sciences in Kachia, Kaduna State. The bills seeking the establishment of both universities passed for a third reading following the consideration of the report presented for that purpose by the Senate Committee on Tertiary Education and TETFund. The chairman of the committee, Senator Dandutse Mohammed (APC, Katsina South), while presenting the report, said the establishment bill for the Federal University of Technology, Ilaro in Ogun State, is predicated on upgrading the Federal Polytechnic in the town to a Federal…
The naira appreciated significantly against the dollar at the foreign exchange market as FX supply increased on Tuesday. FMDQ data showed that the naira gained to N1561.76 against the dollar on Tuesday from N1635.15 exchanged on Monday. This represents an N73.39 appreciation. Meanwhile, the naira fell further against the dollar at the black market to N1780 per dollar on Tuesday. The foreign currency transaction turnover increased to $253.68 million on Tuesday. $126.24 million traded on Monday, according to FMDQ data. The last time the naira appreciated at the official foreign exchange market was last Friday when it stood at N1631.21…
In a show of strong support for GTCO and move to debunk false allegations being levelled against the GTCO and its Executive Management by faceless and unqualified entities using the media, the Central Bank of Nigeria (CBN), issued a Press Release today reassuring the public that their deposits with Nigerian Banks are safe. The Statement titled, “CBN Reaffirms Commitment to Financial System Stability, Safety of Depositors’ Funds” and signed by Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.), begins with a firm assurance: “The Central Bank of Nigeria (CBN) wishes to reassure the public of its unwavering commitment to ensuring…
The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, on Tuesday, asked judges of the National Industrial Court of Nigeria, NICN, to ensure that their judgements not only create industrial harmony but are also capable of attracting foreign direct investment into the country. Fagbemi, who gave the charge in a remark he presented at a special court sitting to mark the 2024/2025 Legal Year of the NICN, stressed that the National Industrial Court plays a crucial role in fostering a conducive environment for businesses to thrive and contribute to Nigeria’s economic prosperity. “Industrial harmony is…
Nigeria’s capital importation, known as foreign investments, rose by 152.81 per cent to $2.604.50 million in the second quarter of 2024, compared to $1.030.21 recorded in the corresponding quarter of 2023. The National Bureau of Statistics disclosed this in its latest Capital Importation Data released on Tuesday. However, this represents a 22.85 per cent decline when compared with the $3.376.01 recorded in Q1 2024. The data showed that portfolio investments ranked top with US$1,404.70 million, accounting for 53.93 per cent, followed by other investments with US$1,169.97 million, accounting for 44.92 per cent. Foreign direct investment recorded the least with US$29.83…