The National Agency for Food and Drug Administration and Control has shut three shops and raided others during a clampdown on the sale of unregistered “Dr. Teal’s” brand of cosmetics in Lagos State. The agency disclosed this in a post on its X handle on Saturday, stating that the action came after a complaint from […]

One day after hotel security footage of Sean “Diddy” Combs allegedly beating up then-girlfriend Cassie Ventura was released, the Los Angeles District Attorney’s office issued a statement confirming the rap artist is “unable” to be prosecuted due to the statute of limitations. “We are aware of the video that has been circulating online allegedly depicting […]

Rivers Governor Siminalayi Fubara has lamented that his administration only settled down to work three months ago due to the crisis rocking the State. Fubara said despite the delay, his government had achieved better project and service delivery than eight years government of some other administration. Fubara spoke at Ngo Town during the official inauguration […]

Oil Prices Climb Ahead of OPEC Output Decision Crude oil prices gained amid falling inventories and an uncertain economic backdrop, ANZ Bank said in a Friday note. Brent crude rose 0.3% to US$83.55 per barrel and West Texas Intermediate crude edged higher by 0.2% to US$79.38/b at last look early Friday. Sentiment remained supported by […]

KYC: Court Upholds Directive to Banks to Collect Customers Social Media Handles The Federal High Court sitting in Lagos has held that a Central Bank of Nigeria (CBN) regulation, which requires financial institutions to demand and collect the social media handles of their customers, as part of the standard Know-Your-Customer (KYC) procedure, is not a […]

Student Loan Application Portal to Open May 24 –Official The student loan application portal will open on May 24, 2024, the Nigerian Education Loan Fund (NELFUND) has said. “The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr Akintunde Sawyerr are thrilled to announce the 24th of May, 2024 as the […]

Trying to Make Naira Appreciate in Hurry Won’t Work – Atedo Peterside The founder of Stanbic IBTC and ANAP Foundation, Atedo Peterside, says the urgency with which the President Bola Tinubu-led administration wants the naira to appreciate against the dollar and other foreign currencies is not the best approach to return the currency to a […]

FAAC Disburses N1.2Trn May Allocation to FG, States, LGs The Federation Account Allocation Committee (FAAC) disbursed a total of N1.208 trillion to the federal government, states, and local government areas. The allocation, shared during the May 2024 FAAC meeting comprised distributable statutory revenue of N284.716 billion, distributable Value Added Tax (VAT) revenue of N466.457 billion, […]

NGX Equity Market Rebounds by N467bn The Nigerian Exchange Ltd. (NGX) on Thursday posted a first week gain with the market capitalisation rebounding by N467 billion, amid renewed interests by investors. Specifically, the market capitalisation which opened at N55,058 trillion, gained N467 billion or 0.84 per cent, to close at N55,525 trillion. The All-Share Index […]

Africa’s Transformation: AfDB Inaugurates 2024 Economic Outlook Report The African Development Bank (AfDB), is set to inaugurate the 2024 edition of its flagship African Economic Outlook (AEO) to accelerate Africa’s transformation. The President of AfDB, Dr Akinwumi Adesina, in a statement on Thursday, said he would inaugurate the report with African finance ministers, central bank […]