News

Thursday, 09 January 2025 04:30

Chad’s govt claims foiled attempt to destabilize country

Chad’s government announced that security forces thwarted an attempt to destabilize the country on Wednesday evening following gunfire near the presidential office in the capital, N’Djamena. Military personnel swiftly blocked off surrounding streets, and officials assured citizens that the situation was under control. In a video recorded at the presidential headquarters, government spokesperson Abderaman Koulamallah described the incident as minor and said calm had been restored. “It was a little incident … everything is calm,” he stated in the footage shared on Facebook. “This whole attempt at destabilisation has been thwarted.” The events unfolded during an official visit by Chinese…

Wednesday, 08 January 2025 05:13

573,000 apply for 3,927 Customs jobs

The Nigeria Customs Service (NCS) has reported an overwhelming response to its 2024/2025 recruitment drive, with 573,519 applications received in just one week after the portal opened. This comes after Federal Government approval to hire 3,927 officers, as confirmed by Finance Minister Olawale Edun. NCS National Public Relations Officer Abdullahi Maiwada provided a detailed breakdown of the applications across different positions: For Superintendent Cadre: - General Duty: 249,218 applicants - Support Staff (requiring HND or university degree): 27,722 applicants For Inspector Cadre (requiring NCE or National Diploma): - General Duty: 115,634 applicants - Support Staff: 12,952 applicants For Customs Assistant…

Tuesday, 07 January 2025 04:59

Auditor-General Report alleges N514bn misappropriation by NNPCL

Tuesday, 07 January 2025 04:58

Former CBN employees challenge mass layoffs in court, seek N30.5bn in damages

Former employees of the Central Bank of Nigeria (CBN) have initiated legal proceedings against the apex bank, challenging their dismissal in a series of mass terminations conducted in early 2024. The case, filed at the National Industrial Court of Nigeria (NICN) in Abuja, represents 33 claimants led by Stephen Gana. The Legal Challenge The dismissed employees contend that their termination letters, issued under "Reorganisational and Human Capital Restructuring" on April 5, 2024, violated: - Section 36 of the Nigerian Constitution - CBN Human Resources Policies and Procedures Manual (HRPPM) - Nigerian labour laws - Their contractual rights The claimants are…

Monday, 06 January 2025 05:03

FG plans quarantine for China passengers amid new virus outbreak

The Federal Government of Nigeria has announced enhanced surveillance measures for inbound passengers from China in response to a surge in Human Metapneumovirus (HMPV) cases reported in the Asian nation. The measures, which include potential quarantine protocols, aim to curb the spread of the respiratory virus. HMPV, which primarily affects children and individuals with weakened immune systems, has caused a wave of respiratory infections across northern China this winter. The outbreak has overwhelmed hospitals and sparked public concern, with social media showing images of overcrowded healthcare facilities. John Oladejo, Director of Special Duties at the Nigeria Centre for Disease Control…

Monday, 06 January 2025 05:01

WAEC introduces ‘fast track’ resit exams for candidates

The West African Examinations Council (WAEC) has launched a new initiative allowing students to resit their WASSCE papers as early as January and February 2025. This new system, known as WASSCE PC1, eliminates the long wait for the next private examination cycle and offers a faster path for students to improve their grades. Announcing the initiative on JoyNews’ AM Show in Ghana, WAEC’s Head of Public Affairs, John Kapi, explained that students who identify the need to resit specific papers after receiving their results now have until January 8, 2025, to register online via WAEC’s website or accredited internet cafés.…

Sunday, 05 January 2025 04:48

Gunmen ‘from Nigeria’ kill 5 Cameroonian soldiers in cross-border attack

Gunmen reportedly from Nigeria have killed at least five Cameroonian soldiers and wounded several others in Bakinjaw, a village near the Nigeria-Cameroon border, according to officials. Aka Martin Tyoga, a member of parliament for Akwaya district in southwestern Cameroon, said the attack occurred early Friday when hundreds of armed Fulani herdsmen crossed the border from Taraba State in Nigeria and attacked a military post. Tyoga stated the assault was in retaliation for the killing of several herdsmen by Cameroonian soldiers the day before. Agwa Linus, the traditional ruler of Bakinjaw, confirmed the attack and said the assailants also burned down…

Saturday, 04 January 2025 04:26

Telecoms push for tariff hike as subscribers reject plan amid economic pressures

Karl Toriola, CEO of MTN Nigeria, has advocated for a 100% increase in tariffs to counter soaring operational costs driven by inflation and naira devaluation. Speaking on Channels Television’s Sunrise Daily, Toriola explained that telecom operators have not adjusted prices in over a decade despite significant economic pressures. “We at MTN believe we need a tariff adjustment of about 100%. The industry is aligned because we all face the same headwinds,” Toriola said. He noted that sectors such as aviation and power have already adjusted their prices, leaving telecommunications behind. Toriola emphasized that the proposed hike would help ensure the…

Friday, 03 January 2025 05:16

FG borrowings push money supply up 51% despite CBN’s tightening measures

Despite the Central Bank of Nigeria’s (CBN) efforts to curb liquidity through tightening measures, the country’s Broad Money Supply (M2) surged by 51% year-on-year (YoY) to ₦108.96 trillion in November 2024, according to the apex bank’s latest report. The increase was primarily driven by rising domestic borrowings by the Federal Government, the CBN stated. Broad Money Supply (M2) encompasses the total money in circulation, including cash and various non-cash components such as savings deposits and time deposits. The CBN’s Money and Credit Statistics revealed that M2 grew sharply from ₦72.03 trillion in November 2023. This growth was consistent for six…

Thursday, 02 January 2025 04:22

TUC, NLC slam Tinubu for ‘doubling down’ on economic policies that cause hardship in the country

Nigeria’s labour unions have intensified their criticism of the Federal Government’s policies, highlighting their adverse impact on citizens and calling for urgent economic reforms to address inflation, high exchange rates, and declining living standards. Trade Union Congress (TUC) President Festus Osifo, during an interview on Channels TV, accused President Bola Tinubu of doubling down on policies that have worsened economic challenges. He noted that while the president’s recent media chat aimed to inspire hope, the government has failed to implement actionable strategies to mitigate inflation and stimulate economic growth. “Our inflation analysts have repeatedly linked current economic hardships to some…

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Wednesday, 01 January 2025 05:18

FG to mandate low-carbon emissions and renewable energy plans for oil licences

Starting Wednesday, Nigeria will require applicants for oil licences and permits to demonstrate plans for low carbon emissions and renewable energy integration before approvals are granted, according to Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The new policy aligns with Nigeria’s commitment to achieving net-zero carbon emissions by 2060. To support this initiative, the NUPRC has introduced the Upstream Petroleum Decarbonisation Template (UPDT), which provides guidelines for applicants. Komolafe stated that enforcement of the new requirements will begin on January 1, 2025, encompassing all upstream sector approvals, including divestments. “This initiative deepens our efforts…

Wednesday, 01 January 2025 05:16

Ivory Coast says French troops to leave country

Ivory Coast has announced that French troops will withdraw from the West African nation, further reducing the military influence of the former colonial power in the region. In an end-of-year address, Ivory Coast's President, Alassane Ouattara, said the move was a reflection of the modernisation of the country's armed forces. Separately, Senegal, which last month announced France would have to close its military bases on its territory, confirmed the withdrawal would be completed by the end of 2025. Ivory Coast is home to the biggest remaining contingent of French troops in West Africa. There are some 600 French military personnel…

Tuesday, 31 December 2024 04:24

Nigeria's Money Supply surges as Currency in Circulation hits record high amid cash squeeze

Nigeria's Broad Money Supply (M2) increased significantly by 51 percent year-on-year to N108.96 trillion in November 2024, while currency in circulation reached an all-time high of N4.8 trillion, according to the latest Central Bank of Nigeria (CBN) Money and Credit Statistics. The substantial increase in M2, which represents cash, demand deposits, savings deposits, and other monetary instruments, reflects the government's high domestic borrowing. The data showed that credit to the government surged by 54 percent year-on-year to N39.6 trillion in November 2024 from N25.7 trillion in November 2023, while credit to the private sector rose by 27 percent to N75.96…

Tuesday, 31 December 2024 04:22

NNPCL announces restart of Warri Refinery after one decade of inactivity

The Nigerian National Petroleum Company Limited (NNPCL) has announced the partial resumption of operations at the Warri Refining and Petrochemical Company (WRPC), marking a milestone in Nigeria’s efforts to revive its local refining capacity. The refinery, which had been dormant since 2015 due to prolonged repairs, began refining crude oil last Saturday at its Area 1 plant. This development follows the recent commencement of operations at the Port Harcourt Refinery’s 60,000-barrel-per-day facility, signaling progress in the country’s push to reduce dependence on imported petroleum products. NNPCL Group Chief Executive Officer, Mele Kyari, disclosed the resumption during a tour of the…

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