Author: Ogochukwu Ndubuisi

Customs Intercepts 5 Trucks of Expired Flour From Egypt The Nigeria Customs Service (NCS) Seme Command, on Thursday said it intercepted five trailer loads of expired flour, with a Duty Paid Value (DPV) of ₦1.2 billion, coming from Egypt. Comptroller Wale Adenuga, Controller of Seme Area command of the NCS disclosed this at a news conference in Seme. According to the controller, the trucks contained 10,000 bags of flour, coming from Egypt to Nigeria, and had expired since March 2024. He said intelligence on the flour was leaked to them through the office of Comptroller General of Customs (CGC) Adewale…

Delta Govt. Approves N10bn to Offset Pension Liabilities Delta Government has approved the disbursement of N10 billion to settle pension liabilities arrears from past administrations in the state. The state Commissioner for Works, (Rural Roads) and Public Information, Mr Charles Aniagwu, who briefed press, said the approval was part of the decisions reached at the State Executive Council meeting held at Government House, Asaba on Thursday. He said the meeting was presided over by the Deputy Governor, Sir Monday Onyeme, adding that Gov. Sheriff Oborevwori was on official engagement outside the state. Aniagwu was flanked by his counterparts from Economic…

NGX Swells by N308bn as Industrial, Insurance Stocks Top Rally The Nigerian Exchange (NGX) market capitalisation swelled by about N308 billion as industrial and insurance stocks drive momentum in the local bourse. The local bourse extended its bullish momentum to close today’s trading on a positive note, with key performance indicators up by 0.33%. Sustained bargain hunting drove stock market cap to its tenth successive session of gains, supported by sustained buying interest in medium and large-scale stocks. Specifically, the market index or All-Share Index grew by 484.31 basis points today, to close at 146,203.40 points, representing a 0.33% increase…

Nigeria Cuts Signature Bonus on Oil to $10m, Targets 2.5 mbpd The Nigerian Upstream Regulatory Commission (NUPRC) says the Federal Government has reduced the cost of the signature bonus from about $100 million to $10 million in its bid to achieve oil production of 2.5 million barrels per day by 2027. Signature bonus is a non-refundable, upfront payment made by a company to a government for the right to explore and develop an oil block This was disclosed by Gbenga Komolafe, the Commission’s Chief Executive, at the Nigeria Association of Energy Correspondents (NAEC) Conference 2025 held in Lagos on Thursday.…

Falana Seeks Radical Judicial Reform to Serve Nigerians A Senior Advocate of Nigeria, Mr Femi Falana, has called for radical judicial reform to make justice accessible to ordinary Nigerians. Falana made the call on Wednesday while addressing newsmen, after visiting Gov. Alex Otti of Abia, in Nvosi, Isiala Ngwa South Local Government Area. He criticised the sluggishness of the courts, noting that it significantly hinders the swift dispensation of justice in the country. Falana stressed that while political cases were fast-tracked due to legal deadlines, ordinary civil and criminal matters languish in courts for decades without resolution. He said:”Only their…

Nigerian Treasury bills Yield Falls to 17.69% as CBN Reprices Rates Investors locked in yield at the Nigerian Treasury bills amidst a primary market auction where the Central Bank of Nigeria (CBN) opened N570 billion short-term borrowing instrument for subscription. Reflecting strong market liquidity and the expectation that the authority would slash discount rates, trading activities heated up in the secondary market concurrently while banks and other investors were opening bids for the midweek auction. A slew of fixed income market analysts maintained Nigerian Treasury bills will attract lower rates throughout the fourth quarter on the back of CBN’s dovish…

Israel, Hamas Take First Steps Towards Enacting a Peace Deal Israel and the Palestinian militant organisation Hamas began taking the first steps on Thursday towards enacting a peace deal announced overnight by U.S. President Donald Trump. Israeli media reported that the Security Cabinet would meet in the afternoon to be briefed on the Gaza deal. This would reportedly be followed by a full government meeting to vote on the agreement. Zaher Jabareen, head of the prisoner affairs office for Hamas, issued a statement earlier saying the Islamist movement had submitted the lists of Palestinian prisoners. This is according to the…

Cameroon’s 92 Year Old President Paul Biya Launches Re-Election Campaign Cameroon’s 92-year-old President Paul Biya has launched his re-election campaign, promising to boost security, create jobs for young people, and improve infrastructure and social services if re-elected. Biya addressed a crowd of supporters at a stadium in Maroua, in the Far North Region, a key battleground in the country’s October 12 presidential election. The region, which has been plagued by Boko Haram attacks and kidnappings, accounts for nearly 20% of the country’s 8.2 million eligible voters. Biya’s campaign promises focused on tackling insecurity, youth unemployment, and poor infrastructure in the…

Court Reserves Ruling on Emefiele Evidence An Ikeja Special Offences Court has adjourned until Oct. 9 to rule on the admissibility of digital evidence presented by the Economic and Financial Crimes Commission (EFCC). Justice Rahman Oshodi reserved the date after hearing arguments from both sides on the authenticity and certification of documents extracted from a former executive assistant to Emefiele. The former governor Central Bank of Nigeria, Mr Godwin Emefiele, faces a 19-count charge bordering on receiving gratification and corrupt demands. His co-defendant, Mr Henry Omoile, faces a three-count charge for unlawful acceptance of gifts by agents. The charges involve…

Germany Initiates Proceedings Against Owner of Chinese Retailer Temu Germany’s competition watchdog has initiated proceedings against the Whaleco Technology Limited group, which is behind the Chinese online retail giant Temu. It said that conditions for traders on Temu’s platform and the company’s treatment of suppliers are to be reviewed, a statement from the Federal Cartel Office said on Wednesday. “We are investigating the suspicion that Temu could be imposing unauthorised conditions on the pricing of retailers on the German marketplace,” said Andreas Mundt, the authority’s president. “Such requirements could constitute significant restrictions of competition and ultimately also result in price…