Month: April 2025

Power crisis: FG turns to banks for $23bn lifeline

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In a bid to end age-long power woes, the Federal Government is in talks with commercial banks and other investors to fund its ambitious universal electricity access, which requires a whopping $23.2bn investment. It was reported  that Nigeria will require $23.2bn of aggregate investment to achieve the planned universal electricity access in five to 10 years, reaching 120 million people across 22 million households. It was gathered that $14.1bn of the cost is an upfront investment to which multiple stakeholders must contribute. The $14.1bn initial investment is 60 per cent…

Interest boom: Nine local banks generate N14tn from loans

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Nine Nigerian banks raked in a combined interest income of N14.26tn in 2024, an analysis of the audited financial results of the financial institutions shows. As the banks made trillions of naira from the interest on loans given to customers during the review period, manufacturers counted their losses, groaning under the weight of soaring borrowing costs totalling N1.3tn for the same period. An analysis of the audited financial results of First Holdco, Guaranty Trust Holding Company, Zenith Bank Plc, United Bank for Africa, FCMB Group, Fidelity Bank, Stanbic IBTC Holdings,…

NYSC releases postings for prospective corps members, warns against night travel

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The National Youth Service Corps has released Stream I postings for the 2025 Batch A prospective corps members. This is just as it noted that the signing and printing of the addendum is vital for camp entry. According to a series of posts on its X handle on Monday, the NYSC said the document is crucial for registration and to avoid potential service disruptions, as some camps may require it for verification. It stressed that the addendum is typically accessible on the NYSC dashboard after successful online registration. Meanwhile, NYSC…

Boko Haram now on TikTok, operates unmanned drones – Security expert

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A security analyst and senior fellow of the Extremism Policy Unit at Tony Blair Institute for Global Change, Bulama Bukarti, on Sunday, warned that the activities of the dreaded terrorist group, Boko Haram, have started gaining ground on major social media platforms like TikTok. Bukarti spoke when he was featured as a guest on Channels Television’s Politics Today. The revelation comes barely one week after the senator for Borno South District, Ali Ndume, lamented that Borno State lost 100 soldiers and 280 civilians to the onslaught carried out by Boko Haram…

[FULL LIST] U-20 AFCON: Flying Eagles coach unveils 24-man squad

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Head coach of the U-20 national team, Flying Eagles, Aliy Zubairu, has unveiled a 24-man squad for the upcoming U-20 Africa Cup of Nations in Egypt. The News Agency of Nigeria reports that the 2025 U-20 AFCON will take place from April 27 to May 18. Zubairu named first-choice goalkeeper, Ifeanyi Harcourt, defender and captain, Daniel Bameyi, midfielder Sulaiman Alabi, and forward Kparobo Arierhi in the squad. The squad is a blend of home-based and foreign players who have intensified training in Abuja ahead of the tournament. Some of the…

Tinubu is North’s asset, not liability, Matawalle counters critics

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The Minister of State for Defence, Dr. Bello Matawalle, has dismissed claims suggesting that President Bola Tinubu is a political liability to Northern Nigeria, describing such narratives as baseless and politically motivated. In a statement issued on Friday and signed by his Special Assistant on Political Affairs, Ibrahim Goga, the former Zamfara State Governor declared President Tinubu as “an asset to the North and the nation,” citing the administration’s strides in security, infrastructure, and national unity. “President Tinubu has demonstrated an uncommon commitment to addressing the challenges facing our region.…

Tinubu working remotely from overseas, returns after Easter – Presidency

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The Presidency has said President Bola Tinubu continues to direct the affairs of state from Europe, despite being outside the country for nearly two weeks. It also said the President will return on Monday, April 21, after the Easter holidays. In a statement signed Thursday, Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, explained that the President, who travelled from Paris to London at the weekend, “remains fully engaged in Nigeria’s governance” and is in “constant communication with key government officials.” Onanuga added that the President had given “directives…

Murder trial: I found Ataga in pool of blood, says Chidinma

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Chidinma Ojukwu, the prime suspect in the murder of Super TV Chief Executive Officer, Michael Ataga, on Thursday, told a Lagos High Court sitting at Tafawa Balewa Square how she discovered Ataga’s lifeless body in a Lekki short-let apartment on June 15, 2021. Testifying before Justice Yetunde Adesanya, the former 300-level Mass Communication student of the University of Lagos said she had returned from buying food and juice, knocked on the apartment door and, receiving no response, pushed it open to find blood on the floor and Ataga lying in…

Epileptic electricity: FG to inject 1,900MW solar power into grid

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•Govt sets 8,000MW power goal by 2027, taps private sector for grid expansion The Federal Government has revealed plans to construct modular solar power plants with a combined capacity of 1,900 megawatts for the 19 northern states, as part of efforts to boost renewable energy adoption and expand the national grid. It also disclosed its target to generate and distribute about 8,000MW of electricity before the end of President Bola Tinubu’s first term in office in 2027. The Minister of Power, Adebayo Adelabu, announced this during the sixth edition of…

Many groan as CBEX allegedly sweeps N1.3tn from investors

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Thousands of Nigerians have been thrown into financial despair following the alleged collapse of CBEX, a digital investment platform accused of sweeping over N1.3 trillion from unsuspecting investors in what appears to be another massive Ponzi scheme. On Tuesday, It was reported that several Nigerian women have been seen breaking down in tears after reportedly losing millions of naira to CBEX. According to circulating reports, the platform became inaccessible after users experienced difficulties withdrawing their funds. Many later discovered that their account balances had been wiped to zero. On X…