Guinness Nigeria Reports N73.6 Billion Loss Amid Tolaram Takeover
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Lagos, Nigeria – July 26, 2024 – Guinness Nigeria Plc has announced a pre-tax loss of N73.6 billion for the financial year ending June 30, 2024, primarily due to the adverse effects of foreign exchange … Read more
Students Abroad React to 12.7% Allowance Reduction by Federal Government
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In a recent development, the Federal Government has decided to cut allowances for Nigerian students stranded abroad by 12.7%, citing economic difficulties at home. This reduction affects scholars in Russia, Morocco, Algeria, and other countries, … Read more
Government Faces Rising Tensions as Nationwide Protests Loom
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In light of a planned nationwide protest set for August 1, the Federal Government of Nigeria has convened an emergency meeting today. This meeting follows President Bola Tinubu’s appeal to protest organizers, urging them to … Read more
Nigerian Banks Channel N186 Billion into Tech Upgrades Amid CBN Mandates
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Three major Nigerian banks—GTCO, Access Holdings, and Fidelity Bank—are poised to invest a combined total of N186 billion ($244 million) from their recent public offerings to enhance their IT infrastructure. This initiative is part of … Read more
Nigerian Government Urges Patience Over Protests, Outlines Relief Measures
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In a recent address to the National Council of Traditional Rulers, the Nigerian government urged citizens to refrain from planned protests, assuring that measures are being implemented to address current hardships. The meeting, held in … Read more
Max Air Aircraft Grounded After Rear Tyres Burst During Takeoff
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On Sunday evening, a Max Air flight, identified as NGL1649, a Boeing 737 with registration 5N-ADB, was cleared for takeoff from Yola Airport. The aircraft, carrying 119 passengers and six crew members, experienced a serious … Read more
Nigerian Banks Record Combined Post-Tax Profit of N3.156 Trillion in 2023
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In 2023, eleven Nigerian banks faced a combined tax expense of N575.168 billion, reflecting a significant 175% increase from the N209.608 billion paid in 2022. This surge in tax liability is linked to a substantial … Read more
Severe Flooding Displaces Over 1,600 Residents in Sokoto State, Nigeria
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In July 2024, a flood swept through four communities in Gada Local Government Area of Sokoto State, leaving 1,600 people homeless. Affected villages were Dantudu, Balakozo, Gidan Tudu, and Tsitse. It was caused by the … Read more
ECOWAS Cybersecurity Hackathon: Nigerian Government Urges Youth Participation
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The Nigerian federal government is encouraging its youth to apply for the Economic Community of West African States (ECOWAS) cybersecurity hackathon, an initiative aimed at empowering the region’s citizens in the field of cybersecurity. Event … Read more
How CBN Aims to Resurrect Billions in Forgotten Assets
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The Central Bank of Nigeria is currently introducing a new policy for the management of dormant accounts and the unclaimed balance on these accounts within the Nigerian financial system. This innovation is captured in a … Read more