In the midst of speculation surrounding a potential coup against Nigeria’s government, the Chief of Army Staff, Lieutenant General Taoreed Lagbaja, has reassured the public that the military is committed to upholding democracy. Addressing concerns during the seminar of the Army Headquarters Department of Military Secretary in Abuja, General Lagbaja emphasized that the Nigerian Army’s allegiance lies with the constitution, affirming its role as defenders of democracy. Reports of a coup plot against the administration of Bola Tinubu, amidst the country’s economic challenges, have circulated recently. However, General Lagbaja dismissed these claims, stating unequivocally that democracy is entrenched in Nigeria…
Author: Omolemi Eboisetale
Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez, announced the expansion of the Minerals Security Partnership (MSP) with the inclusion of Estonia during the “Prospectors and Developers Association of Canada Convention (PDAC)” in Toronto, Canada. The addition of Estonia brings the MSP’s partnership tally to 14 countries along with the European Union. Estonia’s role as a significant stakeholder in rare earths production and processing positions it as a valuable asset within the MSP framework, contributing to efforts aimed at enhancing global mineral security. At the MSP’s high-level principles meeting on…
BUA Cement has provided insight into the challenges it faced in maintaining a fixed price of N3,500 per 50kg bag of cement nationwide, citing market forces as the primary obstacle. The clarification came in response to a demand from civil society groups threatening to picket the company if it did not adhere to the fixed pricing plan within seven days. According to BUA Cement’s executive director, Mr. Kabir Rabiu, the company initially honored its promise and sold cement at the reduced rate for three to four months. However, sustaining this pricing strategy became untenable due to interference from intermediaries…
The Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukayode, has unveiled that banks in Nigeria are implicated in approximately 70% of the country’s financial crimes. Olukayode disclosed this during the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria, held in Abuja. Highlighting the gravity of the situation, Olukayode emphasized that the banking sector is increasingly becoming a breeding ground for fraudulent activities, posing significant challenges to the commission. He stated the urgent need for collaborative efforts among relevant authorities and professionals, particularly audit executives, to combat fraudulent practices within…
Friends, family, and associates of the late Herbert Wigwe, former Group Chief Executive Officer of Access Holdings Plc, gathered at the Eko Hotel in Lagos on Monday evening to pay their tribute to the visionary leader. The atmosphere was heavy with emotion as they came together to honor Wigwe’s extraordinary life and legacy. Wigwe, alongside his wife, son, and former Chairman of the Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo, tragically lost their lives in a helicopter crash on February 9, 2024, in the United States. The devastating accident also claimed the lives of two crew members, leaving…
President Bola Tinubu has returned to Nigeria following a significant two-day official visit to the State of Qatar. This visit marked Tinubu’s 12th foreign trip since his assumption of the Presidency nine months ago, underscoring his commitment to strengthening international relations. The presidential jet, NAF 001, carrying President Tinubu, landed at the Presidential Wing of the Nnamdi Azikiwe International Airport around 7 pm, concluding a productive engagement abroad that spanned 75 days. Upon arrival, President Tinubu was warmly received by top government officials, including Vice President Kashim Shettima, Chief of Staff Femi Gbajabiamila, Secretary to the Government of…
The United States is gravely concerned by the rise in violence against civilians in northern and eastern Burkina Faso in late February. In addition to deadly attacks on multiple military installations, terrorists killed dozens of worshipers in a mosque in Natiaboani and churches in Essakane, a tribal leader and his security team in Kominyenga, and civilian road crews in multiple locations. Such attacks on civilians, especially in their places of worship, are reprehensible. In separate incidents, Burkinabe forces reportedly attacked and killed civilians in Tuy. These most recent attacks follow previous incidents of large-scale violence against civilians in…
In response to the recent stability in the exchange rate of the naira to the dollar, the Central Bank of Nigeria (CBN) has implemented a significant reduction in the exchange rate used for computing Customs duties at the nation’s seaports. The Customs FX duty rate has been lowered by 5.3%, marking a notable decrease from N1,630.159/$ to N1,544.081/$ effective March 4, 2024. This adjustment, as disclosed by the official trade portal of the Nigeria Customs Service, represents a tangible 5.3% decrease compared to the previous rate of N1,630.159/$, which was in effect until March 2, 2024. Importers and businesses…
The United States Supreme Court unanimously sided with former President Donald Trump, ruling against the state of Colorado’s attempt to bar him from the 2024 primary ballot in light of the January 6 Capitol riot. The ruling, delivered on Monday, impacts efforts in multiple states seeking to remove Trump as the likely GOP nominee. The court’s ruling addressed the interpretation of Article 3 of the 14th Amendment, which prohibits individuals who “engaged in insurrection” from holding public office again. Despite challenges filed in over 30 states, the Supreme Court determined that states lack the constitutional authority to enforce Section…
President Bola Ahmed Tinubu has urged the African Union (AU) and the United Nations (UN) to intensify efforts to curb the alarming proliferation of arms and light weapons across the African continent. This comes amidst growing concerns over the widespread access to weapons in many African nations, which has resulted in violence, conflict, insurgency, the death of innocent people, and a rise in criminal activity. Speaking at a dialogue themed ‘The Africa we want and the UN we need’, President Tinubu, represented by George Akume, the Secretary General of the Federation, stated the urgent need for collaboration between the AU…
The Federal Government has announced a new Expatriate Employment Levy (EEL) policy, imposing stringent regulations on companies employing foreign workers. Under the new directives, companies found in breach of the policy will face hefty fines of up to N3 million for each offense. Outlined offenses include failure to submit EEL, neglecting to register an employee, corporate entities not renewing EEL within 30 days, and providing false information regarding EEL. The Expatriate Employment Levy serves as a financial contribution imposed on employers hiring expatriates, primarily targeting the offshore earnings of foreign workers employed in Nigeria. Ministerial spokespersons stated that the EEL…
Former British Council Director, David Roberts, has challenged prevailing narratives regarding Nigeria’s economic state, stating that despite hardships, the nation’s economy cannot be classified as in disarray. Roberts, who spent significant time in Nigeria as a British diplomat, in a statement said the recent recording of Nigeria GDP growth of 3.46% in Quarter 4, marks the presence of robust policies in the country. He said: “I lived and worked in Nigeria for many years as a British diplomat and one of the issues that most disturbed me was the sustenance of the fuel subsidy regime. “Why would a country with…