Author: Ogochukwu Ndubuisi

Air Peace Reduces London Fare By N600,000 Air Peace Ltd. has reduced its Nigeria-London airfare by N600,000 for all travellers emanating from Nigeria. This is contained in a statement signed by the airline’s Head of Corporate Communications, Dr Ejike Ndiulo, on Wednesday in Lagos. According to Ndiulo, the offer is in the airline’s latest promo. He said that the airline’s passengers could enjoy up to N600,000 in savings when the connect London from any Nigerian city. Ndiulo said that the airline was also making an exclusive one free extra luggage offer. He said that the promo would last until March…

Over 90% of Nigerian Lands Unregistered, Minister Says The Minister of Housing and Urban Development, Ahmed Dangiwa, says over 90 per cent of land in Nigeria remains unregistered. He said this has resulted to over 300 billion dollars loss due to longstanding land registration challenges. Dangiwa disclosed this on Tuesday at the National Land Registration and Documentation Programme (NLRDP), a National Workshop, organised by the Ministry of Housing and Urban Development in Abuja. He said that since the inception of formal land registration in Nigeria in 1883, the processes have been conducted under a non-compulsory sporadic system. “This process was…

Unity Bank Names Ebenezer Kolawole as Acting CEO The Board of Unity Bank Plc has announced the appointment of Mr. Ebenezer Kolawole (FCA) as the acting managing director/chief executive officer following the retirement of Mrs. Oluwatomi Somefun, who has completed her tenure as MD/CEO. The appointment was announced at the bank’s 18th Annual General Meeting (AGM), held in Lagos on Wednesday, after securing necessary approval from its primary regulator, the Central Bank of Nigeria (CBN). Mr. Kolawole is a seasoned and consummate banker with over three decades of industry experience. He began his financial services career at Caribbean Finance Limited…

CBN Sells $55 million to Banks to Boost FX Supply With more than $55 million channelled to banks by the Central Bank (CBN), the naira still lost about N5 per US dollar in the official window by eligible FX market players due to an imbalance between demand and supply. This suggests a deeper than expected US dollar demand and supply gap in the official window, with direct impacts on local banks ability to service Bureau de Change (BDC) operators with $25,000 weekly FX requests. The exchange rate closed at N1,532 to a greenback, a country that is facing pressures against…

Why I Declared State of Emergency in Rivers – Tinubu President Bola Tinubu says he declared a state of emergency in Rivers because of the lingering political crisis in the state and attendant effects on democracy, security and wellbeing of the citizens. The President, who stated this in a national broadcast on Tuesday said he felt greatly disturbed by the development. “Like many of you, I have watched with concern the development with the hope that the parties involved would allow good sense to prevail at the soonest, but all that hope burned out without any solution to the crisis.…

FAAC Allocations Rose by 43% in 2024 – NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) report said the Federation Accounts Allocation Committee (FAAC) disbursed an unprecedented N15.26 trillion to the federal, state, and local governments in 2024. The NEITI FAAC Quarterly Review, released by NEITI on Tuesday in Abuja showed that the disbursements represented a historic high in revenue distribution and a 43 per cent increase, compared to previous years. It attributed the surge in revenue disbursements to Federal Government’s sustained fiscal reform policies, especially the fuel subsidies removal and foreign adjustment exchange rate policies, which had continued to…

Tinubu Declares State of Emergency in Rivers President Bola Tinubu has declared a state of emergency in Rivers following the lingering political crisis in the state. The President made the declaration in a national broadcast on Tuesday. He said it had become compelling for him to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers with effect from March 18. “By this declaration, the Governor of Rivers, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of…

AfDB Invests $8bn in Water Infrastructure Across Africa The African Development Bank (AfDB) has invested over $8 billion in water infrastructure across 40 African countries since 2000, benefiting more than 92 million people. Mr Johannes Chirwa, Director, Water Development and Sanitation Department, AfDB, said this at the African Ministers’ Council on Water (AMCOW) West Africa sub-regional meeting in Abuja on Tuesday. Chirwa was represented at the occasion by Emily Kilongi, AfDB Principal Water and Sanitation Engineer. He said the meeting was an essential opportunity to review progress, overcome challenges, and develop future strategies for water management in Africa. “Since 2000,…

Google to Acquire Cloud Security Platform Wiz for $32bn Tech giant Google on Tuesday announced it’s plans  to acquire Wiz, an online cloud security platform, for 32 billion dollars in an all-cash transaction. The Alphabet-owned company expects the acquisition to accelerate cloud security and enhance the ability to use multiple clouds. The U.S. giant also believes the purchase will help protect against security threats and provide an automated security platform. Alphabet’s stock was trading at 164.61,million dollars down 1.21 per cent on the Nasdaq. The acquisition comes after CNBC reported in July that Wiz had walked away from a potential…

Ogun Sets March 31 Deadline for Herders Registration The Ogun State Ministry of Agriculture and Food Security, through its Department of Veterinary Services, has set March 31 as the deadline for the registration of herders in the state. Its Permanent-Secretary, Mrs Kehinde Jokotoye, disclosed this in a statement on Tuesday in Abeokuta. Jokotoye noted that the registration, done in collaboration with the South West Commodity Farmers Organisation, Ogun Chapter, would improve security, resolve conflicts and enhance livestock management practices. She said the registration would also allow herders to benefit from the government’s support, subsidies and incentives aimed at improving livestock…