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Showing posts with the label Finance News

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CBN approves Unity and Providus Banks’ merger arrangement

on August 06, 2024

Banking Economy F Finance News Nigeria News

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CBN cites reason for revoking Heritage Bank's license

on June 05, 2024

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Cryptocurrency platforms, others: EFCC continues crackdown

on April 21, 2024

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Food inflation portends great danger to purchasing power - Analysts

on April 16, 2024

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Bloomberg’s Billionaire Index: Zuckerberg Versus Elon Musk

on April 10, 2024

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Mom Beaten to Death and Stuffed in Duffel Bag; Police Hunt For Killers

The New York Police Department (NYPD) is hunting for a pair of squatters in connection with the brutal killing of Nadia Vitels, 52. Her body was found stuffed into a duffel bag in a Manhattan apartment last week. The two suspects, who have not been publicly identified, were caught on surveillance camera fleeing the scene and escaping in Vitels’ Lexus. Police say they drove to Pennsylvania, where they crashed in Lower Paxton Township. NYPD Chief of Detectives, Joseph Kenny said the deceased had flown into the U.S. from Spain to prepare the Kips Bay apartment owned by her late mother for a family friend to move into, and believed Vitels was beaten to death by the squatters when she found them living in the property. According to him, “We believe that some squatters took the apartment over and this woman came home… and walked in on the squatters that were there,” Kenny said, according to the New York Post. “As they’re getting ready to leave, the son opens up the closet door near the...

Woman driving under the influence of alcohol and drugs' kills couple and their five-month-old baby

A British couple and their five-month-old baby have been killed after a driver who tested positive for alcohol and drugs mowed down a group of holidaymakers in Lanzarote last night, officials have said.

Port Harcourt refinery will deliver refined PMS in two weeks — Kyari

Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari has assured Nigerians that the Port Harcourt refinery will begin to deliver refined petroleum products in two weeks.

Zookeeper eaten alive after filming himself with lions 'to impress girlfriend'

A zookeeper filmed himself trying to recapture three lions that had escaped into a courtyard "to impress his girlfriend" before the wild animals suddenly attacked and ate him. The man named as F Iriskulov, aged 44, is seen unlocking a padlock to the area at a private zoo, called the Lion Park, in Parkent, Uzbekistan at 5am during his night shift. In the clip it shows three lions which are looking quite relaxed to begin with and just watching him approach. It is understood the lions had escaped their enclosure with a door left unlocked and had made their way into a courtyard where the zookeeper tried to recapture them and the tragedy happened. He made the video to give later to his girlfriend but about two minutes after unlocking the door to the courtyard the lions attacked. He is heard screaming as he is apparently being bitten while his camera is still running. He continues to say: "Be quiet, be quiet." The footage cuts but reports say that the lions th...

New National ID card with payment, social features to be introduced - FG

The Federal Government has concluded plans to unveil an enhanced National Identity card through the National Identity Management Commission. The Head of Corporate Communications of NIMC, Kayode Adegoke, made the announcement in a statement on Friday. According to him, the new card to be powered by AfriGO, a national domestic card scheme, will be developed in collaboration with the Central Bank of Nigeria and the Nigeria Inter-bank Settlement System. The card according to Adegoke will be layered with payment capabilities and social service features. “The card, which will be produced according to ICAO standards, is positioned as the country’s default national identity card. “In addition to this functionality, cardholders will also be able to use the cards as debit or prepaid cards by linking the same to bank accounts of their choice. “The card shall enable eligible persons, especially those financially excluded from social and financial services, to have access to multiple go...

Only 3 Nigerians are on Forbes’ World Billionaires List 2024

Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola are the only Nigerians on the list of the 38th edition of Forbes Magazine World Billionaires List for 2024 posted by the platform. According to the new report, Dangote remained Africa’s richest man, recording $13.4 billion as of April 2, 2024, followed by Adenuga with a net worth of $6.7 billion, while Rabiu and Otedola were worth $5.2 and $1.7 billion respectively. Dangote, who remains Africa’s richest person founded and chairs Dangote Cement, the continent’s largest cement producer and owns 85 per cent of the publicly-traded cement firm, through a holding company. Forbes affirmed that Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa, the release said. On the other hand, Dangote’s fertiliser plant in Nigeria began operations in March 2022 and Dangote Refinery is gradually ramping up petroleum refining operations in 2024. Emerging 144 r...

Price of diesel drops, as Dangote Refinery begins sale of the commodity

Following the sale of Automotive Gas Oil, popularly called diesel, the price of the commodity has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country. This development follows the sale of the commodity by the Dangote Petroleum Refinery at between N1,225/litre and N1,300/litre, according to confirmation by officials of the multi-billion dollar plant. Since the refinery started diesel sale, each registered oil marketer got a minimum of one million litres of the Automated Gas Oil (AGO). The plant, as the report was gathered has concluded plan to start releasing Premium Motor Spirit to the domestic market in May this year. While speaking on the evolving development, Abubakar Maigandi, the National President of Independent Markerters Association of Nigeria said, “They started pumping out diesel to marketers since last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me af...

Nasarawa gov pressurized me to establish militia group - Miyetti Allah leader

The Governor of Nasarawa State, Abdullahi Sule, has allegedly been named as the brain behind the establishment of Kungiya Zaman Lafiya, the ethnic militia group in Nasarawa State . The allegation was made by Bello Bodejo, the President of Miyetti Allah Kautal Hore. Bodejo was arrested by operatives of the Defence Intelligence Agency on January 23, 2024, at the group’s office in the Karu Local Government Area of Nasarawa State for allegedly unveiling a militia group without authorisation and has been in custody since then. In his confessional statement exclusively obtained by Sunday PUNCH, Bodejo alleged that the Nasarawa State governor was behind the formation of the militia group. According to him, “I was arrested because of the vigilantes I paraded in Nasarawa State. Sometime in early January 2024, Governor Sule called me and said that he wanted me to see him concerning a Fulani group called Kungiya Zaman Lafiya, which I told him I didn’t know about. The governor sa...

Electricity Tariff Hike: 12 States plan to start generating power

Amidst the electricity tariff hike, not less than 12 states, including Lagos and Kano have tidied up arrangements to start generating power in their respective states in conformity with the Electricity Act 2023. The Electricity Act permits the state electricity board or any state authority by whatever appellation, to grant licenses for mini-grids and provide the framework for the operation of such licenses. The PUNCH gathered on Thursday that some of these states had established their electricity market laws and were waiting for the approval of the Nigerian Electricity Regulatory Commission to have independent regulatory bodies different from the NERC owned by the Federal Government. Meanwhile, the 240% power tariff hike by the Federal Government for consumers in Band A enjoying 20-hour electricity attracted more condemnations on Thursday. The Petroleum and Natural Gas Senior Staff Associations of Nigeria, civil society organisations and the Nigeria Electricity Consumer Advocacy ...

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