Author: Ogochukwu Ndubuisi

Zenith Bank Founder Jim Ovia Reaffirms Commitment to Shareholders’ Value Jim Ovia, Zenith Bank Plc founder and chairman, reaffirms strong commitment to shareholders’ value at the Nigerian Exchange (NGX) closing gong ceremony on Tuesday. Ovia, accompanied by the bank’s Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON carried out the prestigious closing gong ceremony, marking a significant milestone in the bank’s continued partnership with the capital market and the official closing of the trading day. The ceremony highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering investor confidence. While speaking at the Nigerian…

Banking Index Slips Amidst Significant Block Trades The banking index slipped by 37 basis points as some influential investors executed block transactions outside the Nigerian Exchange (NGX) trading platform. The local bourse trended positively, though buying momentum slowed sharply compared with the previous record. Most of the sell-side casualties in the local bourse were oil and gas names, though there were sell pressures on financial stocks. The Banking Index fell 37bps, dragged by FCMB, UBA, and ACCESSCORP, according to trading statistics obtained from the Nigerian bourse. On Tuesday, FIDELITYBK led the volume drive, coming top with 50.90 million, followed by…

Euro Declines to $1.1550 as France PM Presents Budget The euro slipped to the $1.1550 level for the first time in three months as the US dollar trended positively in the forex markets on Tuesday.  The slide followed a fresh wave of buying enthusiasm which lifted the US dollar higher amid receding trade war jitters, Fed expectations, and the ongoing government shutdown.  The greenback is ticking higher for a second straight session as risk appetite returns. Most emerging market currencies are lower, led by the Mexican peso’s 0.65% pullback.  Traders said the euro is not benefiting from the renewed trade tensions…

China Holds Trade Line, Open to U.S. Talks China on Tuesday reaffirmed its determination to persist in its trade dispute with the United States, while indicating readiness for renewed negotiations. The Ministry of Commerce in Beijing stated that China would uphold its stance in the ongoing “trade war” and was prepared to see it through, should tensions escalate. However, the ministry also emphasised Beijing’s continued openness to dialogue with Washington. The statement followed U.S. President Donald Trump’s recent threat to impose an additional 100 per cent tariff on Chinese imports starting Nov. 1. In response, China had earlier introduced new…

Madagascar in Crisis: Gen Z Protests Force President Rajoelina to Flee Madagascar’s President Andry Rajoelina has fled the country amid a wave of Gen Z-led protests that began over water and power shortages but escalated into a broader movement demanding political change and accountability. The protests, which started on September 25, have resulted in at least 22 deaths and dozens of injuries, according to the United Nations. Rajoelina’s grip on power weakened significantly after CAPSAT, an elite military unit that previously helped him seize power in a 2009 coup, defected to the protesters. The unit declared it would no longer…

Shettima, Akpabio, Abbas, Others Storm Enugu as Mbah, Others, Set to Join APC Enugu State’s capital city is agog as all is now set for Gov. Peter Mbah and his political appointees to join the All Progressives Congress, APC, on Tuesday. Mr Uche Anichukwu, the Senior Special Assistant to Mbah on External Relations, stated this in a statement on Tuesday in Enugu. According to him, to receive Mbah into the party are the Vice President, Sen. Kashim Shettima; President of the Senate, Sen. Godswill Akpabio and Speaker, House of Representatives, Mr Tajudeen Abbas. Others are the APC National Working Committee…

PDP Postpones 103rd NEC Meeting The Peoples Democratic Party (PDP) has postponed its 103rd National Executive Committee (NEC) meeting scheduled for Wednesday, Oct. 15. The National Publicity of the Party, Debo Ologunagba, in a statement on Monday in Abuja said that the postponement of the NEC meeting to a new date would be communicated to members in due course. Ologunagba said that the postponement was approved by the party’s National Working Committee (NWC) at its emergency meeting on Monday in view of recent developments in the party. He added that the NWC took the decision exercise of its powers pursuant…

WHO Warns of Rapid Rise in Global Antibiotic Resistance Bacteria are rapidly developing resistance to antibiotics, the World Health Organisation (WHO) warned on Monday, with one in six laboratory-confirmed bacterial infections now caused by antibiotic-resistant pathogens. The organisation has quantified the problem for the first time in relation to 22 antibiotics that are commonly used to treat infections of the urinary tract, the gastrointestinal tract or the bloodstream, or sexually transmitted gonorrhoea. The WHO also looked at various combinations of bacteria and antibiotics, as the latest figures are from 2023. It found that resistance increased in more than 40 per…

Tinubu Says Traditional Rulers Deserve Constitutional Role President Bola Tinubu says traditional rulers remains the most enduring link between government and the people and must be formally recognised within the governance framework. Tinubu, who was represented by Gov. Hope Uzodinma of Imo, disclosed this at the meeting of the National Council of Traditional Rulers of Nigeria (NCTRN) on Monday in Lagos. The meeting has as theme, “The Traditional Institution: The Imperative of Its Inclusion in the Effective and Efficient Governance in Nigeria.” The meeting brought together royal fathers from across the country to deliberate on the constitutional relevance of traditional…

Innoson to Build CNG Plant in Bayelsa Nigerian vehicle manufacturers, Innoson Vehicles Manufacturing (IVM) Limited, has disclosed plans to establish a Compressed Natural Gas (CNG) assembly plant in Bayelsa. The Managing Director and Chief Executive Officer of the firm, Chief Innocent Chukwuma, stated this when he visited Gov. Douye Diri in Yenagoa on Monday. The Innoson CEO said the investment would boost the state’s transportation sector as well as provide training and create jobs. He stated that the initiative will also promote cleaner and greener environment and enhance the country’s capacity to meet its renewable energy target by 2030. In…