Author: Editor

Meet recapitalisation target or face liquidation, NAICOM warns insurers

Editor

Insurance firms that miss the July 2026 recapitalization deadline risk severe regulatory action, including merger or liquidation, the National Insurance Commission  NAICOM  has warned. The commission would not think twice about taking action against non-compliant companies, according to a circular sent to all insurance and reinsurance companies in Nigeria by Deputy Commissioner (Technical), Dr. Usman Jankara. According to the recently enacted Nigerian Insurance Industry Reform Act 2025, insurance companies must raise their capital to N10 billion for life insurance, N15 billion for non-life insurance, and N35 billion for reinsurance. The…

Inflation rate drops to 21.88% in July

Editor

According to data from the National Bureau of Statistics, Nigeria’s headline inflation rate fell to 21.88 percent in July 2025 from 22.22 percent in June, marking the fourth consecutive month of declines. The July figure was 0.34 percentage points lower than the June rate and 11.52 percentage points lower than the 33.40 percent recorded in July 2024, according to the most recent Consumer Price Index report, which was made public on Friday. According to the NBS report, the Consumer Price Index increased 2.5 points from the previous month (123.4) to…

Soldiers rescue six kidnapped victims in Kogi

Editor

Six abducted victims have been freed in Obajana, Kogi State, thanks to the efforts of troops from 12 Brigade Nigerian Army Lokoja and other security agencies. The victims were successfully rescued during the operation, which took place early on Thursday, and no troops were hurt. Brig. Gen. Kasim Sidi, Commander of 12 Brigade Nigerian Army and Force Commander Operation Accord III, told reporters in Obajana on Thursday that the rescue effort was made feasible by astute reporting and information collecting. According to Sidi, who was represented by Lt Col. Francis…

Trump, Putin hold high-stakes Alaska summit today

Editor

Friday’s high-stakes, high-risk summit between US President Donald Trump and Russian counterpart Vladimir Putin in Alaska could be pivotal for Ukraine’s future. Before the summit, Putin will make his first foray onto Western territory since ordering the invasion of Ukraine in February 2022, a war that has claimed tens of thousands of lives and in which Russia has not backed down. At the Russian leader’s proposal, Trump invited him, but the US president has since become defensive and threatened to end the meeting in a matter of minutes if Putin…

FIRS names 16 tech firms for e-invoicing onboarding

Editor
FIRS Begins Fresh Recruitment Exercise - [See How To Apply]

16 tech businesses have been announced by the Federal Inland Revenue Service as service partners to help taxpayers join its e-invoicing platform. At a two-day workshop in Lagos on Thursday, the tech companies—certified by the National Information Technology Development Agency as access point providers and system integrators—were introduced to assist taxpayers with the onboarding, system integration, and invoice transmission processes. The National E-Invoicing Solution (Merchant-Buyer Model), as defined by the FIRS, is a computerized record of transactions between buyers and suppliers that essentially replaces conventional paper or electronic documents like…

Police crush armed robber operating from Lagos refuse dump

Editor

A suspected armed robber operating from a garbage dump in the state’s Abule Egba region was slain by Lagos State Police Command operations. The suspect, known only as Blessing, was shot and killed early Thursday morning, a police source reported. The source claims that at around 1:30 am, detectives broke into the community’s Kantagua area’s garbage dump. But Blessing reportedly opened fire upon seeing the operatives, prompting the cops to intervene. After the police received information regarding the location, the operation was conducted at approximately 1:30 pm. The suspect was…

PDP inaugurates 44-member zoning committee, demands Wike’s total loyalty

Editor

The Peoples Democratic Party established a 44-member zoning committee in advance of its National Elective Convention, which is set for November 15 and 16 in Ibadan, Oyo State. The group is tasked with making decisions that would determine the party’s future and rebuild public trust. Acting National Chairman Umar Damagum stated during the inauguration ceremony in Abuja on Thursday that the panel, which is led by Bayelsa State Governor Douye Diri, will guarantee equity in the distribution of National Working Committee seats. He emphasized that in addition to deciding the…

Budget 2025: Fund Requests Suspended by Accountant-General, Leaving Ministries in a Dilemma

Editor

The Federal Government may extend the 2025 budget into 2026, as slow capital project implementation, procurement delays, and a shutdown of the cash-planning portal have left many projects stalled about eight months into the fiscal year. The possibility of a rollover came to light at a stakeholders’ engagement in Abuja on Wednesday, organised by the Office of the Accountant-General of the Federation to review progress and challenges in implementing the extended 2024 capital budget and the 2025 capital budget under the Bottom-Up Cash Planning Policy. Before any contract is signed,…

Freed Ibom Air Passenger Gets N500,000 Job, Luxury Trip

Editor

Comfort Emmanson, the Ibom Air passenger who was just released from Kirikiri prison, has been given a paid position and a fully compensated trip by Ossai Success, the Delta State Governor’s Senior Special Assistant on Media. Ossai declared in an Instagram post on Wednesday that Emmanson in Delta State will henceforth receive a monthly salary of N500,000. Flight tickets, lodging in a five-star hotel, a guided tour, and admission to the Delta Social Media Summit in Asaba on August 28 are also included in the package. “As the Big Heart…

Pilots split over KWAM 1’s aviation ambassadorship

Editor

The Federal Government’s decision to lower the flying restriction placed on Fuji music singer Wasiu Ayinde Marshall, commonly known as KWAM 1, and drop criminal charges against Comfort Emmanson, an Ibom Air passenger, has caused uproar in the aviation sector. Given the seriousness of the musician’s violation, several industry participants and pilots praised the government’s decision, while others characterized it as hurried and incorrect. Festus Keyamo, the Minister of Aviation and Aerospace Development, declared on Wednesday that the Federal Government has lowered the six-month flight ban imposed on KWAM 1…