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Lagos-Calabar Highway: American Investors Decry Destruction Of N375bn Investment

Lagos-Calabar highway: American investors decry destruction of N375bn investment
In a dispute over the destruction of their N375 billion real estate investment, a group of American investors has urged President Bola Ahmed Tinubu to step in. The investors, acting through the Association of Nigerians in Diaspora, assert that despite possessing the required certifications and approvals, the $250 million houses in Okun Ajah, Lagos State, were ordered to be demolished by the Minister of Works, Engr. David Nweze Umahi. Engr. Stella Ifeoma Okengwu, Managing Director of Winhomes Global Services Limited, claimed during a global press conference that Umahi’s actions show a pattern of unlawful demolition, power abuse, bribery, corruption, andRead More

Naira Weakens To Lowest In Three Years

Naira exchange rate
Nigerian Naira yesterday weakened to the lowest in over three years in the parallel market, due to increased demand for US Dollars, amid foreign currency shortages. The local currency depreciatedRead More

FG, Labour Talks: NNPC Given One Week To Review Fuel Price

Petrol pump
Federal Government and organised labour have resolved to give the Nigerian National Petroleum Corporation (NNPC) one week within which to consider a reversal of the pump price of petrol, aRead More

NERC: We Capped Estimated Billing To Protect Power Consumers

Nigerian Electricity Regulatory Commission (NERC)
FG hands over Afam Power Plant to Transcorp The Nigerian Electricity Regulatory Commission (NERC) yesterday stated that the Federal Government introduced the capping order on estimated billing for unmetered customersRead More

Buhari Seeks Better Deal From OPEC For Nigeria

President Muhammadu Buhari
President Muhammadu Buhari yesterday urged the Organisation of Petroleum Exporting Countries (OPEC) to consider the burden of Nigeria with a large number of poor people when sharing oil production cuts.Read More

15-month Border Closure: Manufacturers Fault FG, Committee Report Ready For Buhari

The Minister of Finance, Budget and National Planning, Zainab Ahmed
Prolonged border closure discourages long-term investments – MAN Export Group Preferential opening of borders shows government’s decision political, says don President to get presidential committee’s report on land border reopeningRead More

Hope PSBank Begins Operations, Promises Seamless Digital Banking

Hope PSBank
Hope PSBank, a subsidiary of Unified Payment Services Limited and Nigeria’s premier digital-first bank has commenced operations. The payment service bank has promised seamless digital banking in its bid toRead More

Shareholders: FG’s Plan To Hijack N200bn Unclaimed Dividends Illegal

Securities and Exchange Commission, Nigeria
Shareholders have said the plan by the Federal Government to take over the N200billion unclaimed dividends through the establishment of Unclaimed Dividend Trust Fund is unconstitutional and void to resistRead More

Analysts Back FG’s Forecast Of Quick Exit From Recession

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed
World Bank predicts drop in nation’s per capita income to 40-year-low Analysts yesterday described the Federal Government’s projection that the economy, which slipped into a recession in the third quarterRead More

FG To Ban Fish Importation In Two Years

Minister of Agriculture and Rural Development, Alhaji Muhammad Sabo Nanono
The Federal Government has announced plans to end fish importation in the next two years as it asked fish importers to consider producing fish locally. The Minister of Agriculture andRead More