President Bola Tinubu has urged global power giants, Samsung, to see Nigeria as best investment destination, as it operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country. Ajuri Ngelale, Presidential Spokesman,in a statement on Sunday, said the President gave the assurance on Sunday in Riyadh, Saudi Arabia, during a meeting with Hong Namkoong, the president and chief executive officer of Samsung, and Jungwook Kim, the vhairman of Samsung Investment Global. The meeting took place on the margins ..read more

The Central Bank of Nigeria (CBN) sold dollars at the official and parallel markets last week in a bid to stem the panic-driven demand in the markets that has renewed pressure on the naira. The apex bank sold some $70 million in the official market and about $16 million to Bureau De Change (BDC) operators. intervention in the official market this year to a total of $651 million while over $70 million has been sold to the BDCs since lifting a three-year ban on dollar sales to them this year. The CBN’s latest sale did not seem to have much of an impact on the exchange rate in the official market ..read more

The immediate past governor of Benue, Samuel Ortom, has reacted to the face-off between his Kogi counterpart, Yahaya Bello and Economic and Financial Crimes Communities (EFCC), following an alleged misappropriation of N80.2 billion by the former while serving as Kogi governor. According to him, Yahaya Bello has been unreachable since he was declared wanted by the anti-graft agency. He, however, advised the former Kogi governor to stop hiding and submit himself to EFCC for proper scrutiny. Ortom, spoke during a thanksgiving service organised by his former appointees to mark his 63rd birthday at ..read more

The scarcity of premium motor spirit (PMS), commonly known as petrol, continues to affect various parts of Nigeria, leading to the proliferation of black marketers who are selling the product at exorbitant prices, reaching as high as N1,200 per litre in some locations. Reports from across the country indicate that many filling stations remain closed, while those dispensing petrol have long queues. Some stations in the Federal Capital Territory (FCT) and several states have increased their prices, selling petrol at between N750 and N800 per litre. However, Nigerian National Petroleum Company Li ..read more

A US-based carrier, Delta, has concluded plans to resume its service to Nigeria from New York-JFK with effect from December 1, 2024. The new addition would increase the airline’s frequencies to 14 with the existing daily service between Atlanta and Lagos. This is in addition to the plan to upgrade its fleet for Ghana and South Africa service to reinforce its number one position in Africa. The airline carries more than half a million customers between the US and Africa each year on more than 34 weekly flights. “These enhancements reflect our dedication to meeting the evolving needs of our custo ..read more

Acting executive vice chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Dr. Adamu Abdullahi, has confirmed that the Abuja Chinese supermarket, which was last week sealed for discriminating against Nigerians, priced all its products in Chinese yen instead of the Nigerian naira. Abdullahi revealed this in a recent interview with Channels TV in Abuja, published on the agency’s YouTube channel yesterday. The commission sealed the supermarket located within the China General Chamber of Commerce following accusations of discriminatory practices against Nigerians. Abdull ..read more

The federal government has explained reasons for granting a company the exclusive rights to collect helicopter landing levy at all aerodromes, helipads, oil rig platforms and other places in the country. The Minister of Aviation and Aerospace Development, Festus Keyamo said millions of dollars have been lost due to poor regulation of the collection process. He also said the company; NAEBI Dynamic Concepts Limited which he granted the rights to was the one the immediate past minister, Sen. Hadi Sirika was considering for the job. The Minister disclosed while speaking on a national television. H ..read more

A tragic incident occurred on Friday, April 26, 2024, when a man identified as Azeez jumped into the lagoon at the Lekki-Ikoyi Bridge in Lagos State. According to eyewitnesses, Azeez took the drastic action after being accused of stealing bags of cement. The Lagos State Emergency Management Agency (LASEMA) received a distress call around 10:45 a.m., prompting their director of operations in Lagos Central to rush to the scene. Upon arrival, he found a large crowd gathered by the waterside, watching the lifeless body of the drowning victim. Paramedics at the pre-hospital care in Lagos confirmed ..read more

The House of Representatives is set to revisit some proposed alterations to the 1999 Constitution (as amended) either rejected by past parliaments, state Assemblies or not assented to by former Presidents. The Deputy Speaker of the House, Benjamin Kalu, disclosed this on Saturday while delivering his remarks at a joint retreat for the secretariats and consultants to the Senate and House Committees on the review of the constitution. He called for synergy among the consultants to work together in the ongoing constitution review exercise. In 2023, former President, Muhammadu Buhari rejected 19 bi ..read more

Former Benue governor, Gabriel Suswam, has kicked against the call for the establishment of a State Police, saying Nigeria is not mature enough for it. “I won’t support the idea of having a Police Force controlled by the state governors. It is not good for Nigeria. “The Inspector-General of Police has said that Nigeria is not mature for it and I agree with him totally,” Suswam told the News Agency of Nigeria (NAN) on Sunday in Abuja. Th former governor and lawmaker argued that if established, the governors would use it to go after their political opponents. “I was a governor for eight years an ..read more