Author: Ogochukwu Ndubuisi

Germany Plans €4 Billion for Green Energy Projects in Africa Germany is eyeing expanded investments in Africa’s energy sector, having pledged €4 billion for green energy projects by 2030 and advancing hydrogen and gas partnerships through the European Union’s (EU) Global Gateway initiative. These investments aim to enhance conditions for private sector involvement and infrastructure development, underscoring Germany’s commitment to sustainable development and economic growth across the continent. In South Africa, Germany committed R5.2 billion last December to support the country’s energy transition and deepen bilateral cooperation. This funding is directed towards facilitating South Africa’s shift from coal to renewable…

NDIC to Pay First Tranche of Liquidation Dividends to Heritage Bank Depositors in April The Nigeria Deposit Insurance Corporation (NDIC) says it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April. It would be recalled that Heritage Bank operating licence was revoked by the Central Bank of Nigeria (CBN) on June 3, 2024.The Managing Director of NDIC, Mr Bello Hassan, said this on Wednesday at the NDIC Special Day at the ongoing 36th Enugu  International Trade. Represented by Mrs Pamela Robert, South-East Coordinator of NDIC, Hassan said that NDIC was in…

FCTA Develops Agric. Policy to Boost Food Security The Federal Capital Territory Administration (FCTA) has started developing its Agricultural Policy and Implementation Plan to guide interventions toward increasing food production in the FCT. Mr Umar Malamiyo, acting Director of Planning, Research and Statistics, FCT Agriculture and Rural Development Secretariat, said this at an event in Gwagwalada on Wednesday, adding that the goal was to enhance food security. Malamiyo was represented at the event by Mr Agu Igwe, the Deputy Director, Public Private Partnership in the Secretariat. He said the engagement would help government officials and stakeholders to identify key areas…

FG Orders Tertiary Institutions to Advertise Job Vacancies The Minister of Education, Dr Tunji Alausa, has directed all federal tertiary institutions that have been granted waivers to recruit staff to publicly advertise the available vacancies. This was contained in a statement released to newsmen in Abuja on Thursday by the Director of Press in the Ministry, Folasade Boriowo. Alausa urged the institutions to advertise in at least one national daily newspaper, on their respective websites, and in other relevant academic and professional journals. According to him, this directive aims to ensure a transparent, open, and competitive recruitment process that offers…

2027: No Political Gang-Up Can Unseat Tinubu A former Lagos lawmaker, Mr. Olusola Sokunle , says no coalition formed to unseat President Bola Tinubu in 2027 will succeed, if he decides to seek another term. Sokunle, who represented Oshodi-Isolo Constituency I between 2015 and 2023 in the Lagos State House of Assembly, told the News men on Thursday that Tinubu would not face any serious challenge getting another term. He was reacting to the recent announcement of an opposition coalition to challenge the All progressives Congress (APC) in the next presidential election . “We have heard and read about the formation…

U.S. Seeks Free, Priority Passage for Warships in Panama Canal deal The United States (U.S.) and Panama, say they are working on an agreement that would give U.S. Navy vessels free and priority access to the Panama Canal. The U.S. Defence Secretary, Pete Hegseth, said this during a visit to the Central American country on Wednesday. Minister of the Panama Canal, José Ramón Icaza, said that, while his country could not legally grant special passage rights to any single nation, the two countries were discussing a mechanism of “compensation for services’’. The talks came as the President Donald Trump’s administration…

Alleged $65m Fraud: Court Warns ex-FMBN CEO against Frivolous Adjournment The Federal High Court in Abuja has cautioned Mr. Gimba Ya’u, former managing director and chief executive officer (MD/CEO) of the Federal Mortgage Bank of Nigeria (FMBN), against frivolous adjournment in the 65 million-dollar fraud trial. Justice James Omotosho gave the warning following an oral application seeking for an adjournment by Benjamin Ogar, the lawyer who appeared for Ya’u on Wednesday. The News Agency of Nigeria (NAN) reports that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has filed the charge marked: FHC/ABJ/CR/333/24 against Ya’u and four others.…

CBN Hikes Interest Rates on Treasury Bills, Rejects Bids The Central Bank of Nigeria (CBN) increased discount rates on Nigerian Treasury bills sold to investors at the midweek primary market auction (PMA). The results of the auction led by the Debt Management Office, DMO, on behalf of the CBN showed that investors’ appetite for naira assets remained solid amidst a shift in global sentiment. On Wednesday, the Central Bank offered N800 billion worth of Nigerian Treasury bills to auction participants’ standard maturities, which comprise the 91-, 182-, and 364-day papers. Reflecting a strong appetite for government securities with relatively high…

RMRDC, BoI Set to Partner on Boosting Nigeria’s Onion Value-Chain Development The Raw Materials Research and Development Council (RMRDC) and the Bank of Industry (BoI) have agreed to partner to halt post-harvest losses and enhance value addition in the onion value chain. The Director-General of RMRDC, Prof. Nnayelugo Ike-Muonso, confirmed this on Wednesday, when he led a team on a courtesy visit to the Managing Director/CEO of BoI, Dr Olasupo Olusi, in Lagos. Ike-Muonso said that the visit was to explore collaborative opportunities focused on onion processing and export, adding that its partnership with BoI was a strategic move to…

EU Aims to Remove Barriers to AI Development The European Commission (EU) said it had launched a strategy on Wednesday to remove barriers to the use of Artificial Intelligence (AI) and better equip Europe’s companies for global competition. At the presentation of its new AI strategy, the Brussels authority announced that it would simplify rules, promote investment and massively expand the establishment of its own data centres. The aim of the AI Continent Action Plan was to “transform Europe’s strong traditional industries and its exceptional talent pool into powerful engines of AI innovation and acceleration,’’ according to a statement released.…