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Zenith Bank’s Profit Soars by 108% in H1 2024, Gross Earnings Surpass N2 Trillion

Zenith Bank Plc has reported its audited financial results for the half-year ending 30 June 2024, showing a remarkable 117% growth in gross earnings, which jumped from N967.3 billion in H1 2023 to N2.1 trillion in H1 2024. This impressive performance comes despite the challenging macroeconomic conditions facing Nigeria’s banking sector. According to the bank’s […]

Adelabu Announces $800m Boost for Power Grid Expansion and Infrastructure

The federal government has announced plans to release $800 million under the Presidential Power Initiative (PPI) to significantly enhance Nigeria’s power infrastructure. The Minister of Power, Chief Adebayo Adelabu, stated that the funds would be allocated to constructing electricity substations and distribution lines as part of the PPI, also known as the Siemens project. Adelabu […]

CBN: Households to Spend Over Half Their Income on Food Due to Inflation Surge

Nigerian households are expected to spend the majority of their income on food in the coming months due to rising inflation, according to a recent survey conducted by the Central Bank of Nigeria (CBN). The latest data from the National Bureau of Statistics (NBS) places the inflation rate at 33.40 per cent, with food inflation […]

#EndBadGovernance Organisers Face Trial for Alleged Treason

The Federal Government is set to arraign several leaders and organisers of the #EndBadGovernance protests, which took place from August 1 to 10, 2024, in multiple Nigerian cities. The protesters face charges of treason, inciting mutiny, and attempting to destabilise the nation. Among the ten individuals due to appear before Justice Emeka Nwite of the […]

Debt Crisis at NNPCL Blamed for Escalating Fuel Queues Across Nigeria

The Nigerian National Petroleum Company Limited (NNPCL) has acknowledged its “significant debt to petrol suppliers,” admitting that this financial burden threatens the sustainability of fuel supply across the country. Reports have indicated that the NNPCL owes petrol suppliers $6 billion, exacerbating the persistent fuel scarcity that has plagued Nigeria since early 2024. The company had […]

FG, ASUU Set to Reconvene for Crucial Talks on September 6 Amid Strike Threats

Representatives of the Federal Government and the Academic Staff Union of Universities (ASUU) met on Wednesday to discuss ways to prevent a looming strike by university lecturers. The meeting, aimed at addressing the key issues raised by ASUU, will reconvene on 6th September. The Minister of Education, Tahir Mamman, who disclosed this in Abuja, stated […]

Mobile Users Face September 14 Cutoff for SIM Verification

The Nigerian Communications Commission (NCC) has set 14th September as the ‘final deadline’ for linking the National Identification Number (NIN) with the Subscriber Identification Module (SIM). Reuben Muoka, the NCC spokesperson, announced this on Wednesday, directing all mobile network operators (MNOs) to complete the verification and linkage of SIMs to NINs by the 14th September […]

Interpol Cracks Down on Black Axe: Hundreds Arrested in International Anti-Cybercrime Operation

The International Criminal Police Organisation (INTERPOL) has apprehended more than 300 individuals associated with Black Axe, one of West Africa’s most notorious criminal networks, as well as other related groups. Black Axe, a clandestine criminal organisation, is involved in trafficking, prostitution, and a range of violent activities worldwide. However, the group’s primary source of revenue […]

No Fixed Date for Oronsaye Report Rollout, Gbajabiamila Confirms

Femi Gbajabiamila, the Chief of Staff to President Bola Tinubu, has confirmed that there is no specific timeline for the implementation of the Steve Oronsaye Report. Speaking on Tuesday during an interview after an official visit to the headquarters of the Nigeria Extractive Industries Transparency Initiative (NEITI) in Abuja, Gbajabiamila, a former Speaker of the […]

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