The Central Bank of Nigeria (CBN) has secured a major legal victory after the Court of Appeal, Abuja Division, set aside a Federal High Court order attaching N100.18 million in a garnishee proceeding arising from a judgment debt involving the Imo State Government. In a unanimous judgment delivered by Justice Okon Abang, the appellate court...
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Reps, NMDPRA Strengthen Oversight Collaboration in Oil, Gas Sector Chairman of the House of Representatives Committee on Petroleum Resources (Midstream), Hon. Prince Henry Odianosen Okojie, has reaffirmed the National Assembly’s commitment to strengthening legislative oversight and deepening collaboration to enhance efficiency and investment in Nigeria’s oil and gas industry. Okojie stated this during a meeting...
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The Federal Government, through the Governing Board of the North East Development Commission (NEDC), has approved a N130 billion investment package comprising a N100 billion solar power programme and a N30 billion Micro, Small and Medium Enterprises (MSME) Development Fund to accelerate economic growth and long-term development across the North-East. The approvals, announced on Thursday...
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President Bola Tinubu has criticised state governors for prioritising the construction of flyovers over more pressing infrastructure needs despite the significant increase in federal allocations to states since his administration came into office. The President made the remarks on Thursday while receiving a delegation of traditional rulers from Oyo State, led by the Olubadan of...
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The Nigerian Export Promotion Council (NEPC) has called for an end to the export of raw non-metallic minerals, urging stakeholders to prioritise value addition, local processing and quality certification to enhance Nigeria’s competitiveness in the global market and boost non-oil export earnings. The call was made at a stakeholders’ workshop on “Positioning Nigerian Non-Metallic Minerals...
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BUA Unveils $85m Port Expansion, Targets Two Million-Tonne Imports BUA Group has unveiled an $85 million expansion of its BUA Ports and Terminals facility in Port Harcourt as part of plans to support the import of more than two million tonnes of raw materials annually and strengthen its growing food processing business. Chairman of BUA...
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CBN to Remit N69.45bn to FG as Group Profit Surges to N136.44bn The Central Bank of Nigeria (CBN) will remit N69.45 billion to the Federal Government in line with the Fiscal Responsibility Act (FRA) after posting a sharp increase in Group profit after tax to N136.44 billion for the financial year ended December 31, 2025....
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The Governing Board of the North East Development Commission (NEDC) has approved a N100 billion investment for a 50-megawatt solar mini-grid programme, alongside plans for a regional railway, airline, electric vehicle deployment, healthcare upgrades and a N30 billion MSME fund aimed at accelerating economic transformation across the North-East. Managing Director and Chief Executive Officer of...
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South African authorities have arrested about 80 suspected members of vigilante groups allegedly involved in xenophobic attacks and other criminal activities targeting migrants, as the government intensifies efforts to restore order and prosecute those responsible. The disclosure was made by South Africa’s Consul-General to Nigeria, Prof. Bobby Moroe, at the Nigeria-South Africa Chamber of Commerce...
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South-East Security Vital to Nigeria’s Unity, Growth — Information Minister The Minister of Information and National Orientation, Mohammed Idris, has said that achieving lasting peace and security in the South-East is critical to Nigeria’s unity, economic growth, and democratic stability. Idris stated this on Thursday at the 2026 South-East Regional Security Summit in Umuahia, Abia...
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