Tag: CBN

Gary Lineker quits BBC role after social media post sparks backlash

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Former England football captain Gary Lineker will leave the BBC at the end of the season, it was confirmed on Monday, days after he shared a social media post that contained anti-Semitic imagery. “Gary Lineker will leave his presenting role following the conclusion of Match of the Day for the 2024/25 season,” the BBC said in a statement. “He will not be part of the BBC’s coverage of the 2026 World Cup or next season’s FA Cup coverage.” Last week Lineker apologised “unreservedly” for sharing an Instagram story about Zionism,…

Navy arrested 215 oil theft suspects, destroyed 468 illegal refineries in 2024

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The Nigerian Navy says it apprehended no fewer than 215 suspected oil thieves and 26 vessels in 2024. It also said that 468 illegal refinery sites were deactivated within the period under the auspices of Operation Delta Sanity. The Chief of Policy and Plans (Navy), Rear Adm. Ibrahim Dewu, made this known on Monday in Abuja during a news conference on the activities lined up to commemorate the 69th Anniversary Celebrations of the Navy. Dewu said that an estimated quantity of 6.5 million litres of stolen crude oil and seven…

Radda mourns as ex-Katsina military administrator Akaagerger dies at 69

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The Katsina State Governor, Mallam Dikko Radda, has received news of the passing of Colonel Joseph Akaagerger, who served meritoriously as Military Administrator of Katsina State from August 1998 to May 1999. This is contained in a statement by the governor’s Chief Press Secretary, Ibrahim Mohammed, and made available to newsmen on Monday in Katsina According to the statement, Radda remembered the immense contributions of Col. Akaagerger to the state during a critical transition period in Nigeria’s history. “In the brief but impactful period he spent steering the affairs of…

Aiyedatiwa denies seizing Ondo cocoa farmers’ land for private firm

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The Ondo State Government has refuted claims by some cocoa farmers in Odigbo Local Government Area that it had sold their farmland in Oluwa Forest Reserve to a private firm, thereby ejecting them from their means of livelihood. Hundreds of farmers in the council area on Sunday staged a protest against the private firm SAO Agro-Allied Services Limited and the state government, accusing them of destroying their farm plantation in Oluwa Forest Reserve in Odigbo LG in a bid to take over the land. During the protest, the aggrieved farmers…

AI key for health, education, innovation, says Bill Gates

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Microsoft co-founder Bill Gates has said that artificial intelligence will play a key role in unlocking new tools for health, education and agriculture. The philanthropist stated this at a meeting with Indonesia’s President Prabowo Subianto on Wednesday. Gates visited Subianto and Indonesian philanthropists in the capital, Jakarta, where he spoke about his optimism that AI-driven innovation will help tackle global challenges. He said, “AI is going to help us discover new tools. And even in the delivery of health, education and agriculture advice, we’ll be using AI. “Once we finish…

Tinubu presents ₦1.78trn FCT budget to N’Assembly

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President Bola Tinubu has presented a ₦1.78 trillion budget proposal for the Federal Capital Territory to the National Assembly. Tinubu, in a letter read on the floor of the Green Chamber on Tuesday by Speaker of the House of Representatives, Tajudeen Abbas, urged the lawmakers to fast-track its passage to facilitate critical development projects in the nation’s capital. Tinubu stated that the budget presentation was in compliance with Section 299 of the Nigerian Constitution, which empowers the president to lay the FCT’s budget before the legislature. In his letter, the…

NELFUND under fire over loans to ex-students

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Some graduates from public tertiary institutions have raised concerns over the delayed disbursement of student loans, revealing that funds were sent to their schools months after they had already graduated. They also continue to receive N20,000 monthly upkeep stipends despite no longer being students. In separate interviews , the affected individuals explained that while they had applied for the Nigeria Education Loan Fund  before graduating, disbursements were delayed, forcing them to seek alternative means to pay their fees. To their surprise, the loans were eventually paid to their institutions long…

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,…

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…

Naira shed 2.6% in March despite $668m CBN intervention

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The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month. According to the latest Afrinvest Monthly Market Report titled ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped to N1,536.82/$ and N1,530.00/1.00 at the NAFEM window and parallel market, respectively. AIICO Capital, in its monthly macroeconomic market report in March, also confirmed that the naira came under a lot of demand pressure despite interventions by the Central…