Author: David Great

The immediate payment of insurance benefits owed to the families of officers and soldiers who died while defending the country has been ordered by President Bola Tinubu. This was announced by the Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja, on Tuesday in Abuja at the start of the Combined Second and Third Quarters COAS Conference. Army field commanders and leaders of institutions and establishments are said to be present at the conference. Lagbaja declared that the wellbeing of the military and its members was of utmost significance and promised to combine all current welfare programs in order to improve…

During his first official visit to the rail corridor on Tuesday, the minister of transportation, Saidu Alkali, inaugurated the first cargo movement from the Lagos-Ibadan track. The minister began the visit at the Ebute Meta station, then proceeded over the 157-kilometer rail line to Apapa for the launch before continuing on to Ibadan. The first-ever freight movement began with the loading of three coaches each holding 30 wagons. Sanwo-Olu takes first ride as Lagos blue line commences operation The Nigerian Railway Corporation (NRC) announced that it would begin with three coaches each day, but that it had the capacity to…

The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks (DMBs) to stop using foreign exchange revaluation gains for dividends and operational expenses. The apex bank stated in a letter dated September 11, 2023, and signed by CBN Director, Banking Division Department, Haruna Mustafa, that the new instruction is anticipated to be implemented immediately. Forex revaluation gains arise when the exchange rate between the foreign currency and the local currency changes, resulting in an increase in the value of a bank’s assets and liabilities denominated in foreign currency. The CBN, according to the letter, has analyzed the effects of…

At least 150 people were killed when freak floods hit eastern Libya, officials said Monday, after storm Daniel swept the Mediterranean, lashing Turkey, Bulgaria and Greece. Images filmed by residents of the Libyan disaster area showed massive mudslides, collapsed buildings and entire neighbourhoods submerged under muddy water. Speaking on Libyan network Almasar, Oussama Hamad, prime minister of the east-based government, reported “more than 2,000 dead and thousands missing” in the city of Derna alone, but no medical sources or emergency services have confirmed such figures. While media outlets in eastern Libya have largely picked up on Hamad’s remarks, separate tolls…

Emirates Airlines will resume immediate flight schedules to Nigeria and lift a visa ban on Nigerian travellers, following a meeting between the leaders of the two countries, the Nigerian presidency said on Monday. President Bola Tinubu and President of the United Arab Emirates Mohamed bin Zayed Al Nahyan met on Monday in Abu Dhabi to lift the visa ban and agree on new investments into Africa’s largest economy. Tinubu stopped in Abu Dhabi on his way from G20 summit in India, where he wooed investors to Nigeria. Last month Tinubu said he wanted an immediate resolution to the disagreements with…

People who want to start investing typically choose to trade in markets like stocks, forex, and cryptocurrencies. While there’s nothing wrong with these options, traders should also consider commodities as an alternative investment outlet. Its global market trades over $20 trillion of commodities yearly, equivalent to ₦15 quadrillion. Interested commodity traders can tap into the multiple financial opportunities offered by its market, given that individuals can trade a range of goods, including precious metals, energy, coffee, and gold. Commodity trading is also more accessible today, thanks to the increasing formalisation of its trading ecosystem. This allows individuals to trade online…

The National Assembly Elections Petition Tribunal in Jos, Plateau State, has confirmed former governor Simon Lalong, the All Progressives Congress (APC) candidate, as the validly elected senator to represent Plateau South Senatorial District in the National Assembly. Justice Mahmoud Tukur, the panel’s chairman, ruled that the votes cast for Peoples Democratic Party (PDP) candidate Napoleon Bali in the February 25 election were squandered since he was invalidly nominated. The unanimous decision concluded that the PDP had no valid structure in the state at the time of the nomination. The tribunal decided that the petitioners could not verify the accusations of…

Laurent Blanc has resigned as coach of Ligue 1’s bottom club Lyon “by mutual consent,” the club said on Monday. “Lyon and Laurent Blanc have decided, by mutual consent, to end their collaboration as of today,” the club stated in a press release. “Lyon would like to thank Laurent Blanc and his staff for their commitment and professionalism over the past 11 months at the helm of the professional team.” The announcement put an end to days of suspense, with a source close to Blanc telling AFP earlier on Tuesday, “It’s over.” Lyon, who finished third last season, has started…

The Nigerian Electricity Regulatory Commission (NERC) has created an application to assist citizens in reporting power outages and interruptions across the nation. The NERC chairperson, Sanusi Garba, said the initiative is in keeping with the commission’s commitment to enhancing customer service while addressing at the app’s debut on Monday in Abuja. “I think a lot of you can recall that we recently launched a new consumer protection regulation that provides timelines within which public utilities, and especially distribution companies (DisCos), are required to resolve complaints by customers,” Garba said. “So, this particular app that we have launched today is supposed…

The United Arab Emirates (UAE) have lifted the visa ban placed on Nigerian travellers after almost one year. President Bola Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, reached a historic agreement on Monday, according to a statement from Ajuri Ngelale, the president’s special adviser on media and publicity. Details later………