The prolonged power tussle for the control of Nigeria’s premier financial institution, First Holdco Plc, the parent company of First Bank of Nigeria, may be close to a final resolution, with major stakeholders Oba Otudeko and the Leadway Assurance/Olukayode Odukale bloc close to exiting their interests in the group. Sources close to the deal disclosed […]
Electricity distribution companies recorded a shortfall of over N202bn in their revenue collections for the first quarter of 2025, despite a rise in electricity billing across the country, an analysis of official industry data by The PUNCH has shown. This was as data revealed that electricity billing by distribution companies increased by 106.68 per cent […]
The Katsina State Police Command says a joint security operatives on Sunday foiled a kidnap attempt and rescued 11 victims. According to the statement by the PPRO, DSP Abubakar Sadiq made available to newsmen on Monday, the operatives recorded a significant breakthrough in the ongoing fight against kidnapping and banditry in the State. “On June […]
Lagos State Government has said that the journey time on the Lagos Blue rail line from Marina to Mile 2, which is 18 minutes currently, will now take about nine to 10 minutes to complete alongside reduced fare. The state governor, Babajide Sanwo-Olu, said this, yesterday while handing over the newly imported three trains of […]
Economist and Managing Director of Financial Derivatives Limited, Bismarck Rewane, has projected that the naira would trade within N1,600-N1,650 to a dollar in the near term. Rewane said this during his presentation at the June edition of the Lagos Business School Breakfast session. The analysts who did a mid-term economic review of the current administration […]
Troops of 6 Division, Nigerian Army (NA), have arrested 43 suspected oil thieves, uncovered 27 illegal bunkering sites, as well as recovered over 161,000 litres of stolen products across the Niger Delta in the latest crackdown. The operations were conducted in synergy with other security agencies between May 26 and June 8, 2025. According to […]
Thirty-four embassies in Abuja risk being closed down by the Federal Capital Territory Administration over unpaid ground rents spanning 11 years, The PUNCH reports. The PUNCH, however, learnt that the opposition Peoples Democratic, Federal Inland Revenue Service and the National Agency for the Prohibition of Trafficking in Persons, who were also listed as defaulters, had […]
The Lagos State Judiciary has launched its electronic affidavit system, now making it mandatory for all general affidavits to be processed exclusively online via the Lagos Comis Platform. The new policy took effect on June 1 following a directive from the Honourable Chief Judge of Lagos State. The new system applies to all non-litigation affidavits, […]
The National Agency for Food and Drug Administration and Control (NAFDAC), Ogun II Office, Ota, has sealed the facilities of 39 illegal packaged water producers in the state between February and June. Mr Mawo Benu, Ogun II State Coordinator, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Ota, […]
The Minister of Defence, Badaru Abubakar, has revealed that Nigeria is steadily moving from dependence on foreign military procurement to local production. In a statement made available to newsmen on Wednesday by Mati Ali, the Personal Assistant on Media and Publicity to the minister, Badaru stated that “this aims to facilitate local production, repairs, refurbishment, […]
