Author: Ogochukwu Ndubuisi

Court Delivers Judgment in NDLEA’s Case Against Abba Kyari The Federal High Court in Abuja, on Friday, fixed Feb. 26, 2026, for judgment in a case filed by the National Drug Law Enforcement Agency (NDLEA) against suspended DCP Abba Kyari. The NDLEA is prosecuting Kyari, the former head of Police Intelligence Response Team (IRT), and his two younger brothers on allegations bordering on non-disclosure of assets. Justice James Omotosho fixed the date after counsel for the NDLEA, Sunday Joseph; Kyari’s lawyer, Onyechi Ikpeazu, SAN, and his brothers’ counsel, Monjok Agom, adopted their processes and presented their arguments for and against…

FEC Approves N6.43trn PPP Projects to Boost Infrastructure The Federal Executive Council (FEC) has approved three major Public-Private Partnership projects valued at more than N6.43 trillion (4.29 billion dollars) to strengthen Nigeria’s infrastructure, enhance economic competitiveness, and attract private-sector investment nationwide. The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, announced the approvals in a statement issued by Acting Head of Media, Ifeanyi Nwoko, in Abuja on Friday, explaining the significance for the economy. Ewalefoh said the approvals reflected the practical outcomes of President Bola Tinubu’s Renewed Hope Agenda, which emphasised private-sector-led infrastructure development as a catalyst…

Guinea Insurance Board and Executive Management Pay Courtesy Visit to NAICOM Leadership The Board and Executive Management of Guinea Insurance PLC paid a strategic courtesy visit to the National Insurance Commission (NAICOM), where they were received by the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin, and his distinguished team in Abuja. The Guinea Insurance delegation was led by Mr. Temitope Borishade, Chairman of the Board of Directors, accompanied by Mrs. Bernice Izilen Okosun, Non-Executive Director; Mrs. Ijeoma Pearl Okoro, Non-Executive Director; Dr.NkemakonamChukwukaodinaka Okeke, Non-Executive Director; Mr. Samuel Onukwue, Non-Executive Director. The…

AIICO Insurance Sets N5.1bn Profit Target for Q1-2026 AIICO Insurance Plc has set N5.088 billion as expected profit for the first quarter of the financial year 2026, the company disclosed in its earnings forecast. Details showed that AIICO Insurance is targeting N68.362 billion in gross written premium from January to March 2026, with key drivers being insurance revenue and net investment income. Insurance service results for the period in expected to print at N3.255 billion with the hope of achieving N37.822 billion in insurance revenue while projecting N29.453 billion as insurance service expenses. The review of AIICO Insurance earnings forecast…

$1.4m Payment: Court Strikes Out Liquidation Suit Against Dantata & Sawoe The Federal High Court in Abuja has struck out a suit seeking the liquidation of Dantata & Sawoe Construction Company Limited over the refusal to pay $1.4 million owed to Zutari Consulting Nigeria Ltd. Justice Mohammed Umar struck out the suit after it was confirmed that Dantata & Sawoe had finally paid the $1.4 million settlement agreement covering the $1,257,592.83 debt owed for subcontract work on the Dangote Fertilizer Plant project in Lekki, Lagos. Justice Umar, in a ruling, vacated and discharged the earlier orders, appointing liquidators for Dantata…

Price of 5kg Cooking Gas Rises By 26% in 30 Days -NBS The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N6,395.82 recorded in September to N8,081.75 in October. The NBS said this in its “Cooking Gas Price Watch’’ for October released on Thursday in Abuja. The report said that the October price represented a 26.36 per cent increase, compared to what was obtained in September. It said that the average price of 5kg of cooking gas increased on a year-on-year basis by 16.86 per cent from N6,915.69 in October 2024. On…

Spot FX Rate Drops to N1,455 at Nigerian Currency Market The naira spot rate fell at the Nigerian foreign exchange market (NFEM) to N1455 per dollar as pressure on liquidity continues to linger. The market is in apparent shortage of US dollars, causing the exchange rate to hover above N1450. The exchange rate has failed to improve despite sustained FX support the Central Bank is providing, funding international payments. The Apex Bank is fuelling demand for the naira by selling dollars to banks amidst huge OMO bills participation by foreign investors. The Central Bank reported on Wednesday that Naira depreciated…

NGX Index Slips, Investors Lose N34bn with NIDF New Listing The Nigerian Exchange (NGX) All-share index (ASI) slipped by 0.05%, while investors lost about N34 billion amidst the listing of Nigerian Infrastructure Debt Funds. The stock market closed trading activities on a negative note, with key performance indicators showing mixed outcomes. The NGX ASI dropped by -0.05% over tightened investors’ sentiment. Meanwhile, stock market capitalisation was down by -0.04%. The difference in the market indicators is attributed to the Listing of Chapel Hill Denham Management Limited’s Series 11 Nigeria Infrastructure Debt Fund of 140,100,000 Units of N100.00 each at N109.50…

51-Year-Old Kayode Kolade Wins Inaugural Heirs Insurance Retirement Dream Competition Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the winners of its inaugural Retirement Dream Competition, a nationwide initiative launched to empower retired and soon-to-retire Nigerians to realise their long-held aspirations. The competition, introduced in August 2025 with a total prize pool of ₦5 million, invited senior citizens aged 50 to 75 to submit a one-minute video describing their retirement dream and how the grant would help make it a reality. After a thorough review process, Mr. Kayode Kolade, a 51-year-old former public servant from Rivers State, emerged as…

Senate Summons Aviation Minister, NCAA, FAAN, Airline Owners Over Soaring Airfares The Senate has summoned the Minister of Aviation, Nigeria Civil Aviation Authority (NCAA), Federal Airports Authority of Nigeria (FAAN) and Association of Airline Owners to appear before its Committee on Aviation. The summon is over what the senate described as an “astronomical hike” in domestic flight ticket prices. The upper chamber condemned the sharp rise in air fares, noting that it had brought more burden on Nigerians travelling for the festive season. The resolution followed a motion sponsored by Sen. Abdulfatai Buhari (APC–Oyo) during Tuesday’s plenary. Buhari, who is…