Foreign Direct Investments into Nigeria fell by $19bn in 10 years, from $22.7bn in 2014 to $3.7bn in 2023, it has been learnt. This was contained in a presentation made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to top business leaders in Lagos recently. At the presentation, which was […]
The naira has continued its resurgence against the United States dollar, appreciating N1,136/$ at the official market and N1,050/$ at the parallel market at the close of trading activities on Monday. This was as traders predicted the dollar’s fall to below N1,000 before the end of the week. At the official foreign exchange market, data […]
Nigeria witnessed its sixth power grid collapse of 2024 on Monday, as electricity generation on the system collapsed from 2,583.77 megawatts at 2 am to 64.7MW around 3am before the grid was restored later in the day. Although the Transmission Company of Nigeria attributed the cause of Monday’s grid collapse to a fire incident, it […]
Aisha Galadima, a female politician and member of the All Progressives Congress (APC) in Kaduna State, was reportedly arrested on Sunday by security agents believed to be operatives of the Department of State Services (DSS). The arrest was said to be related to a negative social media post about the state governor, Uba Sani. According […]
UN Secretary-General, Antonio Guterres has warned members not to further escalate tensions with reprisals against Iran, saying that the Middle East is already “on the brink”. Speaking at the Security Council on Sunday, he said: “The people of the region are confronting a real danger of a devastating full-scale conflict. Now is the time to […]
For the umpteenth time, Nigeria’s power grid experienced another collapse in the early hours of Monday, April 15, 2024, according to data obtained from the Nigerian System Operator’s portal (niggrid.org), between 2:00 am till the time of filing this report. The grid recorded an unprecedented zero Megawatts (MW) at the time and is currently generating […]
The organized labor, on Sunday, listed its expectations ahead of the 2024 Workers’ Day, calling on the Federal Government to announce a new minimum wage on May 1. The National Vice President of the Trade Union Congress, Tommy Etim, who spoke with our correspondent, described Workers’ Day as Christmas Day for workers. He noted that […]
The Economic and Financial Crimes Commission said on Sunday it has freshly recovered $445,000 and N3bn in the ongoing probe of the scandal in the Ministry of Humanitarian Affairs. The EFCC spokesman, Dele Oyewale, told The PUNCH that the $445,000 and N3bn were recovered between March and April in addition to N30bn earlier recovered before March, which […]
GOVERNMENTS and security agencies in the South-West states have beefed up security around government structures and institutions, with machinery put in place to forestall the breakdown of law and order by any group forcing an agenda on the states. Also, security agencies have warned that they would curtail any form of insecurity, adding that anyone […]
Controversial crossdresser, Idris Okuneye, aka Bobrisky, who was handed a six-month prison sentence over naira abuse, currently shares the same cell with male inmates at the Ikoyi Custodial Centre, Justice Abimbola Awogboro of the Federal High Court in Lagos, while sentencing the convict, on Friday, April 12, 2024, said the judgment would be a deterrent […]