Author: Ogochukwu Ndubuisi

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.…

Nigeria Targets N150bn Annual Income From Livestock Exports The Nigerian Export Promotion Council (NEPC) says Nigeria can generate over N150bn annually through livestock exports if it complies with international livestock market standards. The Executive Director (ED) NEPC, Nonye Ayeni said this at the on-going Value Chain Enhancement and Infrastructure Clinic for Effective Livestock Supply Chain and Innovative Market Orientation on Wednesday in Abuja. The clinic was organised by the Livestock Productivity Enhancement and Resilience Support Project (L-PRES). Ayeni, represented by Mr Macpherson Ileogben, Deputy Director, Product Development, NEPC, said there was need to enhance the value chain to leverage vast…

Egbin Power to host FG’s National Data Park, Compute Infrastructure In a significant move aimed at accelerating Nigeria’s digital economy, Egbin Power, Nigeria’s leading power generation company, has been identified as the ideal location to host the nation’s first National Data Park and Compute Infrastructure. The Hon Minister for Communications, Innovation and Digital Economy, Dr. Bosun Tijani, made this announcement during his visit to the power Plant, where he was received by Group Managing Director, Sahara Power Group, Dr. Kola Adesina (MFR) and the CEO of Egbin Power, Mokhtar Bounour, among others. The groundbreaking initiative, spearheaded by the Federal Government,…

ECOWAS Bank Approves €230m to Strengthen Infrastructure in West Africa The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) has approved a total of €230 million and $10 million to finance projects aimed at stimulating development and boosting economic activities in West Africa. A statement by the bank on Tuesday said the financing package was granted during the 91st irdinary meeting of the Board, held under the chairmanship, Dr George Donkor, President and Chairman of the Board of Directors of EBID. The statement said the facilities would be put towards the following projects: “A $50 million…

CBN to Offer Treasury Bills worth N800bln for Subscription The Central Bank of Nigeria (CBN) has revealed a plan to open N800 billion worth of Nigerian Treasury Bills (NTB) across standard maturities for subscription at the primary market auction (PMA) scheduled for Wednesday. Meanwhile, a total sum of N927.256 billion in Nigerian bills is expected to mature, suggesting the auction is for part-refinancing of the maturing amount – given that the total amount to be raised is below the amount for repayment. At the main auction for Wednesday, the Debt Management Office (DMO) on behalf of the CBN will launch…