Day: April 21, 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…