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FAAC Allocates N1.73trn to FG, States, and LGs for November 2024

The Federation Account Allocation Committee (FAAC) held its meeting in December 2024, chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun. During this meeting, a total of N1.727 trillion was allocated to the three tiers of

December 20, 2024

Army Promotes 35 Brigadier Generals, 73 Colonels

The Army Council on Thursday approved the promotion of 35 Brigadier Generals and 73 colonels. A statement by the Director Army Public Relations, Major General Onyema Nwachukwu on Friday said the Brigadier Generals were promoted to the rank of Major General, while

December 20, 2024

Abuja Suffers Power Outages as Vandals Target Shiroro-Katampe Transmission Line

Some parts of the Federal Capital Territory, Abuja, have been thrown into darkness as vandals, again, destroyed the 330-kilovolt Shiroro-Katampe Transmission Line. A statement by the spokesperson of the Transmission Company of Nigeria, Ndidi Mbah, on Thursday night, said at approximately 11:43

December 20, 2024

Financial Statements of Public Companies Now Required to be Online, Says SEC

The Securities and Exchange Commission has ordered all publicly listed companies to publish their financial statements on their official websites from January 2025. According to the Commission, the directive aims to ensure seamless public access to financial information, which is critical for

December 20, 2024

AGF Condemns Suspension of Local Government Leaders by Edo Assembly

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, has condemned the Edo State House of Assembly for suspending the chairpersons of the 18 Local Government Areas in the state. In a briefing with journalists in Abuja on Thursday,

December 20, 2024

Reps Pass 2025 Budget After Four-Hour Debate

The House of Representatives on Thursday passed the proposed 2025 budget of N49.7 trillion for first and second readings following an extensive four-hour debate on its general principles during plenary. President Bola Tinubu had presented the budget proposal to a joint session

December 20, 2024

Yahaya Bello Granted Bail in N500 Million Fraud Case

The Federal Capital Territory High Court in Abuja has granted bail to former Kogi State Governor Yahaya Bello, who is facing charges of alleged misappropriation of N110 billion from the state’s coffers. Justice Maryanne Anenih, presiding over the case, granted the former

December 20, 2024

2025 Budget Passes Second Reading Amid Debate Over Economic Implications

The Senate on Thursday passed the second reading of the 2025 proposed budget, following an intense debate on its general principles. The budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” seeks to authorize the issuance of N49.7 trillion from the Consolidated

December 20, 2024

Garba Shehu Clarifies Revoked Abuja Land: ‘It Does Not Belong to Buhari’

Former Presidential Spokesman, Garba Shehu, has dismissed reports linking former President Muhammadu Buhari to a parcel of land revoked by the Federal Capital Territory (FCT) Minister, Nyesom Wike. According to Shehu, the land in question is registered under the Muhammadu Buhari Foundation,

December 20, 2024

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Season of Giving: Dangote Slashes Petrol Price to ₦899 in Time for Christmas

Dangote Petroleum Refinery has announced a reduction in the price of petrol to N899.50K per litre, aimed at easing the financial burden on Nigerians ahead of the Christmas and New Year holiday season. In a statement, the company’s spokesman, Anthony Chiejina, mentioned

December 19, 2024

PDP Criticizes Tinubu’s 2025 Budget as Unrealistic and Anti-People

The Peoples Democratic Party (PDP) has criticized the 2025 budget proposal presented by President Bola Ahmed Tinubu, describing it as “unrealistic, opaque, and insincere.” In a statement on Wednesday, PDP National Publicity Secretary Debo Ologunagba stated that the budget is anti-people and

December 19, 2024

Wike Revokes FCT Land Allocations for Buhari, Abbas, Akume, and Others

The Minister of the Federal Capital Territory (FCT) has revoked the lands of former President Muhammed Buhari, Speaker of the House of Representatives Tajudeen Abbas, and Secretary to the Government of the Federation George Akume. Also, 759 other prominent figures and organisations

December 19, 2024

Stanbic IBTC Welcomes Mrs. Maryam Aliko Mohammed as Independent Non-Executive Director

Stanbic IBTC Holdings Plc announced the appointment of Mrs Maryam Aliko Mohammed as an Independent Non-Executive Director effective December 17, 2024. The appointment, which follows the receipt of all necessary regulatory approvals, reflects the company’s commitment to strengthening its board with seasoned

December 19, 2024

NERC Grants Lagos Regulatory Oversight for Electricity Sector

The Nigerian Electricity Regulatory Commission (NERC) says it has transferred regulatory oversight of the electricity market in Lagos State to the newly established Lagos State Electricity Regulatory Commission (LASERC). NERC announced this in a statement it released on X, formerly Twitter, on

December 19, 2024

Edo Governor Approves Dissolution Of Oil & Gas Commission, Others

The Governor of Edo State, Monday Okpebholo has approved the dissolution of all commissions, including the Edo State Oil and Gas Producing Areas Development Commission in Edo State. A release by the Secretary to the State Government, Umar Ikhilor (Esq) on Tuesday

December 19, 2024

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