Author: Adejuyigbe Francis

Breaking News: Examination Hall Collapses On WASSCE Students In Taraba State. A potentially catastrophic incident was narrowly averted on Wednesday when an examination hall at Government Secondary School, Namnai, in Gassol Local Government Area of Taraba State, collapsed during the ongoing West African Senior School Certificate Examination (WASSCE). Hundreds of final-year students escaped unharmed after the classroom structure caved in, reportedly due to a heavy downpour. The incident, which occurred in the rural village of Namnai, sent shockwaves through the local community as students were in the midst of their crucial examinations. According to reports, the collapse was triggered…

Nigeria’s N300bn Sukuk Bond Smashes Records With 735% Oversubscription. The Federal Government of Nigeria has achieved a remarkable milestone with its Series VII Sovereign Sukuk, attracting an unprecedented N2.205 trillion in subscriptions against a N300 billion offer, representing a staggering 735% oversubscription. The Debt Management Office (DMO) announced the record-breaking success on Wednesday, highlighting the growing investor confidence in Nigeria’s ethical investment instruments. The N300 billion seven-year Ijarah Sukuk, launched on 12 May 2025 with a rental rate of 19.75% per annum, drew widespread participation from retail investors, non-interest banks, financial institutions, pension fund administrators, and asset managers. The…

Nigerian Meter Manufacturers Oppose TCN’s £126M Contract Award To Chinese Firms. The Association of Meter Manufacturers of Nigeria (AMMON) has strongly criticised the Transmission Company of Nigeria (TCN) for awarding contracts worth over N160 billion (£126 million) to two Chinese firms for the supply of electricity meters, despite the robust production capacity of local manufacturers. The decision, which AMMON claims undermines Nigeria’s industrial growth, has sparked renewed calls for the government to prioritise domestic firms in line with President Bola Tinubu’s “Nigeria First Policy.” In a statement issued on Monday, AMMON’s President, Engr. Durosola Omogbenigun, expressed frustration over TCN’s…

Nigerian Pilgrim’s Act Of Honesty Shines In Makkah As She Returns $5,000 To Russian Owner. A Nigerian pilgrim, Hajiya Zainab from Plateau State, has earned widespread praise for her remarkable integrity after returning $5,000 (approximately ₦8,240,000 at an exchange rate of ₦1,648 per USD) to its rightful Russian owner. The incident occurred on Tuesday at Masjidul Haram in Makkah, a sacred site for Muslims worldwide. The Plateau State Pilgrims Board, under the leadership of Hon. Daiyabu Dauda, and the National Hajj Commission (NAHCON) confirmed the heartwarming act. Hon. Dauda lauded Hajiya Zainab, stating, “She demonstrated exceptional integrity and honesty…

FCT Minister Wike Vows To Raise Ground Rents Despite Opposition. Nyesom Wike, the Minister of the Federal Capital Territory (FCT), has announced plans to increase ground rents in Abuja, asserting that his administration will not be deterred by what he describes as “blackmail” from property owners. Speaking to journalists on Wednesday during an inspection of infrastructure projects, Wike highlighted the persistent issue of unpaid ground rents as a significant challenge to the FCT’s development. The Federal Capital Territory Administration (FCTA) recently revoked 4,794 land titles in districts such as Wuse, Maitama, Asokoro, and Garki due to non-payment of ground…

Lagos State Caps Tenancy Agreement Fees At 10% In New Tenant Protection Law. Lagos, Nigeria – The Lagos State Government has introduced stringent measures to safeguard tenants’ rights, announcing that tenancy agreement fees must not exceed 10% of the annual rent. This development, part of an updated Lagos State Tenancy Law, aims to curb exploitative practices by landlords and agents, ensuring fair treatment for tenants across the state. Under the revised law, landlords are barred from demanding more than three months’ rent in advance from existing tenants, with tenants similarly prohibited from paying beyond this limit. Violators face fines…

Chelsea Triumph Over Real Betis To Claim UEFA Conference League Title. Chelsea FC etched their name into football history on Wednesday, 28 May 2025, defeating Real Betis 4-1 in a thrilling UEFA Conference League final at Stadion Wrocław. The victory marks Chelsea as the first club to win all five of UEFA’s major men’s senior club competitions, adding the Conference League to their illustrious collection of Champions League, Europa League, Super Cup, and Cup Winners’ Cup titles. The match began with a setback for Chelsea, as Real Betis took an early lead in the ninth minute through a clinical…

SEC Issues Urgent Warning To Nigerians Against Investing In Silverkuun Cooperative. The Securities and Exchange Commission (SEC) of Nigeria has issued a stark warning to the public, urging Nigerians to avoid investing in Silverkuun Investment Cooperative Society, also known as Silverkuun Limited. The announcement, made on 28 May 2025, underscores the regulator’s concerns over the organisation’s unregistered status and its potential risks to investors. According to the SEC, Silverkuun Investment Cooperative Society/Silverkuun Limited is not licensed to operate as an investment adviser or fund manager within Nigeria’s capital market. The commission highlighted that the entity has been soliciting public…

Israeli Air Strike Kills Hamas Leader Mohammed Sinwar In Gaza. Israeli Prime Minister Benjamin Netanyahu has announced that Mohammed Sinwar, the de facto leader of Hamas in Gaza, was likely killed in an Israeli air strike. The attack, which targeted an underground Hamas command centre beneath the European Hospital in Khan Younis on 13 May 2025, has been described as a major blow to the militant group’s leadership structure. According to Israeli officials, the strike was launched based on intelligence indicating Mohammed Sinwar’s presence in a tunnel complex in southern Gaza. The operation, authorised by Netanyahu and Defence Minister…

Nigerian House Of Representatives Orders Tertiary Institutions To Refund Tuition Fees Amid NELFUND Disbursement Concerns. The House of Representatives has mandated all tertiary institutions across the country to refund tuition fees paid by students prior to receiving disbursements from the Nigerian Education Loan Fund (NELFUND). The directive, issued during a plenary session on Tuesday, 27 May 2025, aims to ensure compliance with the Student Loans (Access to Higher Education) Act 2024 and address allegations of mismanagement in the loan disbursement process. The motion, sponsored by Aliyu Mustapha Abdullahi, the representative for Ikara Kubau Federal Constituency in Kaduna State, was…

Nigerian Senate Approves N124.29 Billion Budget For Nigeria Police Trust Fund In 2024. The Nigerian Senate has approved a 2024 budget of N124.29 billion for the Nigeria Police Trust Fund (NPTF). The announcement, made during a plenary session at the National Assembly, marks a crucial step in enhancing the operational capacity of the Nigeria Police Force (NPF). The budget, designed to address pressing security challenges, allocates funds to critical areas aimed at improving policing across the country. According to details from the Senate, the budget includes N1.21 billion for personnel costs of the NPTF, N8.05 billion for NPTF…

President Tinubu Appoints New Leadership For Nigeria Deposit Insurance Corporation. President Bola Ahmed Tinubu has approved the appointment of Thompson Oludare Sunday as the new Managing Director (MD) of the Nigeria Deposit Insurance Corporation (NDIC), a pivotal institution tasked with safeguarding depositors and ensuring financial stability in Nigeria’s banking sector. Alongside this, the President has appointed Kabir Sabo Kataka as the Executive Director of the corporation, further strengthening its leadership. The appointments were announced in a letter addressed to the Nigerian Senate, read by Senate President Godswill Akpabio during a plenary session on Wednesday, 28 May 2025. President Tinubu…