Author: Chief Editor

The Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, secured the conviction of four persons including a 21-year-old Cinematographer, Abiodun Ayomide from Ikirun, in Ifelodun Local Government Area of Osun State for offences bordering on personation and internet fraud. Others include Bello Damola Lateef from Ilorin, Kwara State; Azeez Ibrahim Olarewaju from Ona-ara Local Government Area of Oyo State and Aderoju Ridwan Kayode from Oshogbo, Osun State. Abiodun and Bello were prosecuted on separate charges before Justice Adebayo Yusuf, same as Azeez and Aderoju before Justice Adenike Akinpelu of the Kwara State High Court sitting,…

The ban placed on tree cutting and charcoal production in Adamawa State has begun to take its toll on the people. Residents around the state are beginning to have problems getting charcoal to light fires to make their meals Charcoal has reportedly become scarce due to the ban on tree cutting and burning to make charcoal, leading to rising prices on available quantities. Residents claim this is a big blow considering that many had abandoned their kerosene stoves due to scarcity and the prohibitive cost of kerosene. “I sent my daughter to buy charcoal but she came back after a…

Samuel Chukwueze will complete his move to Serie A giants, AC Milan this week, according to transfer expert, Fabrizio Romano. AC Milan and Villarreal reportedly agreed a €27m transfer fee for the Nigeria international last week. The two clubs and the player are proceeding with the move despite a plan hijack by Saudi Arabia Professional Football League side, Al Nassr. “Milan is sealing final details of the deal to sign Samuel Chukwueze — as documents will be checked today,” Romano wrote on his Twitter handle. “Chukwueze, expected in Italy this week to become new Rossoneri player.” The 24-year-old was also…

Edo North Senator, Adams Oshiomhole has condemned the N30,000 minimum wage. Oshiomhole described the current minimum wage as “criminal wage,” stressing that he pays his cleaner N60, 000. Featuring on Channels Television’s Sunday Politics, Oshiomhole said the current minimum wage was not enough for workers. According to Oshiomhole: “What we call minimum wage is a criminal wage. “I can tell you what I have decided to pay my cleaner. My cleaner is just a primary school – I’m not sure she even has a school leaving certificate. But she’s knowledgeable enough to clean the house. “I found myself unable to…

Twitter owner Elon Musk has unveiled a new logo for the social media platform. The logo features a white “X” on a black background replacing the original Twitter blue bird symbol. Unveiling the new logo, Linda Yaccarino, Twitter Chief Executive Officer, CEO tweeted: “X is here! Let’s do this.” In another tweet, the logo was also projected on the company’s offices in San Francisco. Also, Elon Musk tweeted, “And soon we shall bid adieu to the Twitter brand and, gradually, all the birds.” Musk and the Twitter CEO’s handles featured the X logo while the blue bird is still visible…

Heavy transactions in the shares of United Bank for Africa (UBA) FCMB Group Plc and Japaul Oil lifted the volume of shares traded last week as 4.2 billion shares worth N99 billion were recorded in 41,446 deals by investors on the floor of the Nigerian Exchange Limited (NGX). This volume of shares traded was, however, higher than a total of 5.2 billion units worth N63.4 billion that was exchanged in 57,234 deals on July 14, 2023. The top three equities accounted for 1.8 billion shares worth N18.2 billion in 4,707 deals, contributing 41.3 per cent to the total equities’ turnover.…

Dissatisfied by the prolonged foreign exchange crisis, stockbrokers have stressed the need for investors to consider hedging their portfolio by purchasing dollar-denominated assets (foreign stocks, dollar mutual funds, Eurobonds and dollar-fixed deposits) to mitigate the impact of the currency devaluation. According to the operators, with the low money market rates in the face of 23 per cent inflation, no investor wants to keep naira or naira assets which is a signal of another currency crisis. They argued that the increasing exposure to naira devaluation and dollar crisis has compelled foreign portfolio investors (FPI) to shun the Nigerian market despite the…

Ex-governors fail as successors struggle with law and order By 9th August, this year, it would have been 730 days since the South-east region began to observe the weekly sit-at-home exercise as declared by proponents of separatist state of Biafra, to press for the release of the detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu. Of the 730 days, every Monday, beginning from August 9, 2021 had been observed as sit-at-home in the region, thus grounding economic activities in the region and causing the region an estimated loss of N7.6 trillion in productivity, potential investments as…

What could be the centerpiece of President Bola Tinubu’s fiscal regime is gradually taking shape with a committee on tax reform inaugurated. The Presidential Committee on Fiscal Policy and Tax Reforms headed by a renowned tax expert, Taiwo Oyedele, intends to work out the removal of all barriers inhibiting business growth. Last week’s resignation by Oyedele from PwC as a partner signals the importance of the assignment. With Nigeria battling multiple taxations that have continued to impede businesses, the move by President Tinubu to redirect taxes to aid rather than stifle business growth has been expectedly welcomed by the business…

A Senator representing Edo North Adams Oshiomhole has said they did not promise miracles to Nigerians when they campaigned for the election of President Bola Tinubu. Oshiomhole, a former National Chairman of the All Progressive Congress (APC), said this on Channels Television’s Sunday Politics. The former Edo State governor said Nigerians need to be patient with the new government, noting that the president is not a magician that will immediately solve all problems in the country. “They know they were not electing a magician. And nobody promised a magical solution,” Oshiomhole said. “You don’t need to give me an example.…