The organizers of a children’s funfair, where several people are feared dead due to a stampede on Wednesday at the Islamic High School, Basorun, Ibadan, Oyo State capital, have been arrested. Governor Seyi Makinde confirmed their arrest and stated that investigations are underway to determine the cause of the incident. He shared this information in…
The Central Bank of Nigeria (CBN) has imposed a daily transaction limit of N1.2 million for Point of Sales (POS) agents. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ released on Tuesday. According to the circular, the development is in the apex bank’s effort to advance a cashless economy. The…
On Wednesday, President Bola Tinubu announced that the administration has allocated N4.91tn for defence and security in the 2025 fiscal year. Additionally, Infrastructure will receive N4.06tn, Health will be allocated N2.48tn, and Education will get N3.5tn. Tinubu made the announcement during the presentation of the 2025 Appropriation Bill to a joint session of the 10th…
Monies paid by the Federal Government as electricity subsidies increased to N199.64 billion in December 2024, according to data sourced from the Nigerian Electricity Regulatory Commission. The recently released “December 2024 Multi-Year Tariff Order” report reveals that electricity subsidies increased by 2.76% to N199.64 billion in December, up from N194.26 billion in November. The Nigerian…
A Road Traffic Crash (RTC) occurred in the early hours of today, Wednesday 18 December, 2024 on the Kara bridge, after Berger bus stop on the Ibadan bound carriage way of the Lagos-Ibadan Corridor. The RTC involved a fallen Container laden Trailer and this has narrowed the lanes causing a standstill traffic situation on the…
According to the newly released report, ‘December 2024 Multi-Year Tariff Order,’ electricity subsidies rose by 2.76 per cent to N199.64 billion this month from N194.26 billion in November. NERC explained that the rise in the exchange rate, which it pegged at N1,687.45 to the dollar, the increase in inflation to 33.9 per cent, and changes…
The Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ released on Tuesday. According to the circular, the development is in the apex bank’s effort to advance a cashless economy. “The…
The National Bureau of Statistics (NBS) said the payments were made between May 2023 and April 2024. According to the NBS’s latest Crime Experience and Security Perception Survey report published on Tuesday, 65 per cent of households affected by kidnapping paid ransoms for the release of their loved ones from the abductors’ den. “The average…
