Author: Olukayode Oke

The Board of Directors of the African Development Bank Group (AfDB) has approved a dual-currency Trade Finance Line of Credit for ECOWAS Bank for Investment and Development (EBID) comprising $50 million and €50 million. In a statement yesterday, the AfBD stated that an additional co-financing of $30 million for the credit line would come through the Africa Growing Together Fund (AGTF) from the People’s Bank of China (PBOC). EBID would use the three-and-a-half-year facility to provide direct financing to local corporates, it stated. According to the AfDB, part of the facility would also be channelled through select local banks for…

Peter Obi, the Presidential Candidate of the Labour Party, LP, has described the lowering of Nigeria’s credit rating by Moody’s Investors Service from B3 to junk bonds as worrisome. A statement by the former Anambra governor on Wednesday said the downgrade sends signals to the global community of the country’s current bleak economy. Obi said though the situation was a verdict on governments’ inability to fix the economy, the issue “does not call for blame games but a determined effort to provide solutions”. The flagbearer opined that Moody’s dismal outlook for the most populous black nation is a wake-up call…

Manchester United will face Newcastle in the Carabao Cup final after Erik ten Hag’s side comfortably beat Nottingham Forest to book their place at Wembley. Last week’s 3-0 victory in the semi-final first leg at the City Ground all-but assured the Red Devils a spot in the February 26 showpiece and the chance to end the club’s worst trophy drought in 40 years. United dominated Wednesday’s second leg and substitute Anthony Martial eventually broke the deadlock before Fred wrapped up a 2-0 win, seeing them triumph 5-0 on aggregate. The reward was a trip to the capital to take on…

Liverpool hero, Danny Murphy, has criticized Chelsea for overspending for midfielder Enzo Fernandez. Murphy insisted that Chelsea’s latest signing Enzo Fernandez is not better than Manchester United’s Casemiro. Chelsea on Tuesday made Fernandez the most expensive signing in British football after securing his signature in a £106 million deal from Benfica on transfer deadline day. Fernandez only joined Benfica last summer but established himself as one of the most exciting footballers in the world as he helped Argentina win the 2022 FIFA World Cup in Qatar last December. The 22 year old was named best young player of the tournament…

The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Ishaq Oloyede, has ordered the immediate suspension of three of its agents for allegedly charging more than the stipulated amount for Unified Tertiary Matriculation Examination (UTME) registration. The registrar, during an inspection of some UTME registration centres in Lagos yesterday, discovered that the affected agents, Parkway Project, Digital Partners and SystemSpecs, charged candidates N5, 800 and N6,500 instead of N5,700. It was also discovered that a bank, in connivance with Remita, charged N8,700 for registration, but the candidate was issued a receipt of N5,700. Oloyede said the agents would…

President Muhammad Buhari has advised Nigerians, especially industrialists and entrepreneurs to adopt the use of technology to complement governments’ efforts in solving problems facing industrial development in the country. Buhari gave the advice on Tuesday while speaking at the unveiling of 50.3 metres the Tallest Flag in Africa at Malam Alu farm in Birnin Kudu local government, Jigawa State. He said technology has now simplified everything that can be used to solve most of Nigeria’s problems, especially, in the area of agriculture to ensure massive food production and industrialization of the country. I am impressed with solar panels I saw…

Chelsea will have to exclude one of their big-name signings this January from their Champions League squad. The Blues will play Borussia Dortmund in the last-16, with the first leg in Germany on February 15 and the return leg at home on March 7. Owner Todd Boehly completed a splurge this month with Enzo Fernandez becoming their eighth signing in a British record £106 million deal on deadline day. Other arrivals include Joao Felix on loan from Atletico Madrid, £88m Mykhailo Mudryk and £35m Benoit Badiashile. However, UEFA rules stipulate only three new players can be registered for the knockout…

The Presidency has described the spreading narrative of stone-pelting attack on President Muhammadu Buhari‘s helicopter in Kano State as an attempt by the opposition People’s Democratic Party (PDP) to mislead the public on facts of the incident. Some news outlets and mostly social media platforms had reported that angry residents hailed stones at one of the helicopters that carried some members of the President’s entourage when he visited Kano State on a day state visit on Monday. However, reacting to the incident, the Presidency said the narrative was wrong as Buhari was already being hosted to banquet at the Kano State…

Following the continued scarcity of fuel across the country, the Independent National Electoral Commission, INEC, yesterday, raised the alarm that the development could hamper election day logistics. While the Nigerian National Petroleum Company, NNPC, Limited assured the electoral commission of an adequate supply of fuel during the election, the three major presidential candidates also expressed hope that the scarcity would be resolved before the polls. Speaking at a consultative meeting with officials of the National Union of Road Transport Workers, NURTW, INEC Chairman, Prof. Mahmood Yakubu, said the meeting was to put finishing touches to the implementation of the Memorandum…

Chelsea have signed Enzo Fernandez from Benfica for £106.8million — smashing the British transfer record. The Argentinian World Cup winner, the club’s eighth major arrival during the January sales, has been handed a deal until the summer of 2031 at Stamford Bridge. With the Blues agreeing to pay his full release clause just before the transfer window slammed shut, the 22-year-old midfielder is now the most expensive player to ply his trade on British soil — eclipsing the £100m Manchester City paid for Jack Grealish in 2021. Chelsea had pursued the star throughout January but a deal looked unlikely due…

The presidential candidate of the Labour Party, Mr Peter Obi, has called on the European Union Election Observation Mission to ensure that over three million eligible Nigerian students are allowed to vote for their preferred candidate in the election slated for February 25. This is even as the former Anambra State governor expressed reservations over the inability of many Nigerians, particularly in Lagos State, to obtain their Permanent Voter Card. Speaking Monday evening during a meeting with the EU-EOM observers, Obi said, “I am sure the Independent National Electoral Commission will do the right thing.” He was responding to a…

Belgian Pro League outfit, KRC Genk have announced the signing of Nigeria forward, Tolu Arokodare. Arokodare joined the Smurfs from French Ligue 2 club, Amiens SC. The 22-year-old comes in as a direct replacement for compatriot, Paul Onuachu, who moved to Premier League club, Southampton on transfer deadline day. The striker previously played in Latvia with Valmiera and in the Bundesliga with FC Cologne. Arokodare expressed his delight after completing the move. “I am very happy to be in Genk. At this point in my career I can’t imagine a better club. “Together with the team I hope to continue…