Latest data released by the Central Bank of Nigeria (CBN) indicates significant growth in the country’s banking industry, with total assets surging by N30.92 trillion or 47.21 percent year-on-year, reaching a total of N96.4 trillion between the end of June 2022 and the end of June 2023. Details pertaining to the banking sector’s total assets and its gross credit to the economy, which have consistently shown upward trajectories during this period, were presented in the Monetary Policy Committee’s personal statement released over the weekend. The Monetary Policy Committee (MPC) convened in July against a backdrop of global growth concerns due…
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India formally transferred the G20 presidency to Brazil during the closing ceremony of the annual G20 summit held in New Delhi over the weekend. The transition of leadership was symbolized as India’s Prime Minister Narendra Modi handed over the ceremonial gavel of the G20 presidency to Brazil’s President Luiz Inacio Lula da Silva. India assumed the G20 presidency on December 1, taking over from Indonesia. It has held this prestigious position and will continue to do so until November 30. READ ALSO: Kano police say residents’ll hear gunshots for 7 days, but no need for panic During the two-day summit, the…
National Assembly Election Petition Tribunals across Nigeria are gearing up to deliver judgments on more than 400 election petitions this week as the tribunals are set to conclude their sittings by September 16. Nigeria’s Electoral Act says the tribunal has 180 days to determine the petitions. Therefore, the court is expected to round off all its activities on or before September 16, 2023. Initially, 552 petitions were filed by aggrieved candidates who contested National Assembly elections. However, it has been reported that over 150 cases have already been decided, with some petitioners opting to withdraw their cases. Significantly, numerous federal…
The National Drug Law Enforcement Agency (NDLEA) has intercepted no fewer than 399 pieces of Improvised Explosive Devices (IEDs) being transported to Kaduna by one Oluwagbenga Leke. The 33-year-old suspect was arrested on Sept. 7, along Mokwa-Jebba Road, the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi said in a statement on Sunday in Abuja. According to Babafemi, the suspect had claimed that the explosives were handed to him at a park in Ibadan to be delivered to someone in Kaduna. He added that the suspect and exhibits had since been transferred to the military authorities in Niger. Meanwhile, in…
The Vice President, Kashim Shettima, on Sunday said the Federal Government had obtained 163 million dollars loan from the African Development Bank to support wheat production in the country. Shettima stated this at the palace of the Emir of Argungu, Alhaji Sumaila Mera, when he paid a condolence visit to the Emirate and family of late Sheikh Abubakar Giro. He re-affirmed the determination of the Tinubu administration to fulfill all its promises to Nigerians, particularly in the agricultural sector. The Vice President also assured that food security would receive serious attention from the government. READ ALSO: FG set to plant…
Novak Djokovic secured his 24th Grand Slam singles title in a demanding US Open final against Daniil Medvedev in New York. The 36-year-old Serb clinched victory with a score of 6-3, 7-6 (7-5), 6-3, in a match that pushed him to his limits . The 36-year-old Serb won 6-3 7-6 (7-5) 6-3 but the straight-set scoreline does not tell how deep he had to dig. A comfortable opening set was followed by a brutal second which lasted one hour and 44 minutes. After the pair exchanged breaks early in the third, Djokovic took control to level Margaret Court’s 50-year record.…
In a dominant display, Victor Osimhen netted a stunning hat-trick as the Super Eagles cruised to a 6-0 victory against Sao Tome and Principe in a 2023 Africa Cup of Nations (AFCON) qualifier on Sunday, at the Godswill Akpabio Stadium in Uyo, Akwa Ibom State. Osimhen’s remarkable performance takes his goal tally to 10 in the qualification series, reaffirming his status as a pivotal figure for the Nigerian squad. Notably, the Super Eagles had previously thrashed the islanders 10-0 in the reverse fixture last June. READ ALSO: Jigawa: Tribunal Declares Birnin Kudu/Buji Reps Election Inconclusive Despite today’s one-sided encounter, the…
The National Assembly Election Petition Tribunal, situated in Jigawa State, has ruled the outcome of the House of Representatives election for the Birnin Kudu/Buji Federal constituency as inconclusive. In the initial declaration by the Independent National Electoral Commission (INEC), Adamu Yakubu of the People’s Democratic Party (PDP) emerged as the winner with 39,998 votes. Yakubu had defeated the APC candidate, Magaji Da’u, who secured 36,735 votes. However, Da’u challenged the election’s outcome at the tribunal. The election petition tribunal however determined that the election should have been initially declared inconclusive since the number of canceled votes exceeded the margin of…
The University of Lagos says the increase of obligatory fees is not intended to stop indigent students from accessing quality education. The Vice-Chancellor of the institution, Prof. Folasade Ogunsola, made the assertion at a virtual news conference on Saturday night in Lagos, where she explained why it would be difficult to return the fees to the former rates. Recall that the institution had, through a statement issued on Aug. 21, announced an adjustment in obligatory fees in the university. It said that the adjustment, which would take effect from the first semester of 2023/2024 academic session, was in view of…
Pestana CR7, a 174-room hotel owned by Portuguese star, Cristiano Ronaldo, in Marrakesh, Morocco, has become a refuge site for the survivors of an earthquake in the country. The earthquake recorded in the North African country on Friday, has killed at least 2,012 people and injured over 2,000. The 6.8-magnitude quake struck 72 kilometres (45 miles) southwest of the tourist hub of Marrakesh, wiping out entire villages in the hills of the Atlas mountain range. As a result, people have taken to any buildings that they can to find shelter following the natural disaster, including Ronaldo’s hotel. According to Spanish…
Aisha Yesufu, a prominent social critic and ardent supporter of Peter Obi, the Labour Party (LP) Presidential Candidate in the 2023 general elections, has expressed her vehement disagreement with the verdict of the Presidential Election Petition Court (PEPC), which upheld President Bola Tinubu’s victory. Yesufu conveyed her stance during a ‘Mic On’ podcast titled, ‘The PEPC Judgment: Hopes Met or Dashed,’ hosted by Channels TV presenter Seun Okinbaloye. The co-founder of the #BringBackOurGirls movement firmly stated that she would never acknowledge President Tinubu as her leader because she believes he “rigged his way” to the Aso Rock presidency. The PEPC,…
President Bola Tinubu is set to engage in a diplomatic dialogue with the leadership of the United Arab Emirates (UAE) to seek a resolution to the ongoing diplomatic dispute between the two nations. The rift between Nigeria and the UAE emerged in October 2022 when the UAE authorities imposed a visa ban on Nigerians. Notably, Nigerian carrier, Air Peace also suspended its Dubai-bound flights in response to the UAE’s visa restrictions.. Recall that Emirates said it had suspended its flight to Nigeria over its inability to repatriate trapped funds. In a recent meeting between President Tinubu and Salem Saeed Al-Shamsi,…
Alhaji Mohammed Idris-Malagi, the Minister of Information and National Orientation, says President Bola Tinubu is fully committed to restore the economic prosperity of Nigeria. Idtis-Malagi disclosed this in an interview with the News Agency of Nigeria (NAN) on Saturday in Minna, Niger on the sidelines of a civic reception organised for elected and appointed officials by Gov. Umar Bago. According to the minister, Tinubu is working round the clock to robustly initiate policies and programmes, internally and externally, to revive the economy. Idris-Malagi said: “As we speak, the president is attending the G-20 Summit of the world’s strongest economies in…
The Economic and Financial Crimes Commission (EFCC) has unfrozen the bank accounts of the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, who is still under investigation ‘for the offences of conspiracy, diversion of funds, abuse of office, and money laundering,’ Good Evening Nigeria has learnt. Speaker Obasa, in September 2020, had his bank accounts frozen by the Federal High Court in Lagos, following an application made by the EFCC, as reported by Premium Times. READ ALSO: SSS Arrests CBN Deputy Governor Over ‘Share Acquisition’ Scandal At the time, the agency said the accounts were being investigated ‘for…
The State Security Service (SSS) has arrested Aisha Ahmad, the Deputy Governor of the Central Bank of Nigeria (CBN), who is responsible for Financial System Stability in Nigeria Ms. Ahmad’s arrest is linked to her “alleged fraudulent acquisition of shares in Polaris Bank, Titan Bank/Union Bank,” according to NTA’s report. “The CBN Deputy Governor is currently being interrogated on how $300 million to complete the acquisition of Union Bank was raised by Titan Bank,” NTA reported on its X handle. While the detail of her arrest is still sketchy, it could be recalled that Ahmed’s former boss at the CBN,…
Gambia and Congo’s African Cup of Nations qualifier in Marrakech will go ahead as scheduled on Sunday. This is in spite the powerful earthquake that struck the city on Friday night and which has so far killed more than 1,000 people and injured hundreds more. However, Saturday’s match between Morocco and Liberia in Agadir, some 260-km away from the quake epicentre, has been postponed. The Gambia and Congo squads spent the night sleeping beside their hotel pools after the magnitude 6.8 quake struck in the High Atlas mountains and damaged buildings in nearby Marrakech. It was the country’s deadliest tremor…
The group of 20 leading developed and emerging economies will continue their diplomatic talks at the G20 summit in India on Sunday but no other major resolutions are expected. Indian Prime Minister Narendra Modi has visited the memorial site for the Indian freedom fighter Mahatma Gandhi in the capital New Delhi in the morning (Sunday). At the end of the two-day summit, the third working session of the roundtable will be held under the motto “One Future.” The goal is to discuss concrete terms on how to deal with issues such as reforms of development banks and international financial organisations.…
Political leaders attending the G20 summit in New Delhi paid a visit on Sunday to the memorial dedicated to Mahatma Gandhi, one of the leaders of India’s struggle to liberate itself from colonial rule. Indian Prime Minister Narendra Modi placed shawls around the necks of the heads of state and government as they arrived at the Raj Ghat memorial in Delhi at the start of the second and last day of the summit. Wreaths were then laid during a ceremony at the site, where Gandhi was cremated shortly after his murder in 1948. US President Joe Biden, German Chancellor Olaf…
Spotify, a global online streaming platform, says Nigeria’s fast rising star, Rema, has achieved a remarkable milestone with his hit single ,”Calm Down”, reaching one billion streams on its platform. Victor Okpala, Spotify’s Artiste and Label Partnerships Manager for West Africa, disclosed this in a statement on Sunday. According to Okpala, this is in a clear testament to Rema’s artistry and global appeal. He said according to data shared as part of Spotify’s afrobeats, ‘Journey to a Billion Streams’ project, Rema ranked among the top 10 most streamed Aarobeats artistes on the platform. He said it was no surprise that…
In a concerning incident in Rivers State, a vigilance group, ONELGA OSPAC reported the arrest of three individuals, including two pastors, in connection with the tragic death of a 24-year-old man named Lucky in the Port Harcourt area of the state. Lucky reportedly died after an operation to remove his hunchback. An officer with the Planning and Advisory Committee of the security group, codenamed OSPAC, told PUNCH that the suspects were nabbed while trying to flee Port Harcourt. One of the suspects, who was said to be the pastor of a new generation church in Osiakpo, near Omoku in the…