Professor Uche Uwaleke, Nigeria’s first Professor of Capital Market and the Director of the Institute of Capital Market Studies at Nasarawa State University, Keffi, has urged the federal government to redirect the alleged “N113 billion” allocated in the 2025 budget proposal for the purchase of vehicles to infrastructural projects across the country.Uwaleke made this recommendation during an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.According to him, 288 government agencies included the purchase of vehicles in their 2025 capital budgets.He explained that importing these vehicles would further strain the country’s exchange rate. Why vehicle purchases should be…
Author: Oladi Samuel
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Airlines in Nigeria experienced significant disruptions between September and October 2024, with 5,225 flight delays and 901 cancellations out of 10,804 flights operated.These delays and cancellations accounted for 48.3% and 8.3%, respectively, of the total flights.This data was presented at a stakeholders’ meeting on Friday, organized by the Minister of Aviation and Aerospace Development, Festus Keyamo, in response to mounting passenger complaints about delays and cancellations.The meeting, which included the Nigerian Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN), and airline operators, aimed to address the root causes of these disruptions. A short video, captured by LTV…
Several countries are making it easier for foreign workers to bring their families along by offering a range of benefits, including healthcare, education, and work permits for spouses.These family-friendly policies are designed to help skilled professionals balance career opportunities with family life.These five countries are leading the way in offering strong support for foreign workers and their families, DAAD Scholarship informs.Canada: Canada provides numerous benefits for foreign workers and their families. Public healthcare is available to the entire family in most provinces, and children under 18 can attend public schools free of charge. There are also clear pathways for families to…
The number of small boat arrivals in the UK has risen by over 20% this year, according to official data.This increase has sparked renewed debate over immigration policy as political pressure mounts on leaders to address the growing issue of migration.The Financial Times reports that more than 35,800 people arrived in the UK by small boat in 2024, up from 29,400 in the previous year.Although this figure remains below the peak of 45,750 recorded in 2022, the increase has raised concerns about the country’s ability to control migration, especially as more than half of this year’s arrivals took place after…
The Chairman of Air Peace, Allen Onyeama, on Friday, publicly admitted that staff of his airline sometimes violate regulations, the Nigeria Civil Aviation Authority (NCAA) has claimed.According to NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, via a post on X, Onyeama made the admittance while accepting enforcement actions taken against his airline by the regulatory agency.According to Achimugu, Onyeama said he had instructed his airline’s staff to comply with the NCAA’s regulations, particularly regarding refunds, which must be made within the timeframe stipulated in Part 19 of the NCAA Regulations 2023.“Today, the Chairman of Air Peace, Allen…
The Nigerian All-Share Index (ASI) closed on December 27 in the red, retreating by 52.73 points to finish at 102,133.30, representing a modest decline of 0.05% from its Christmas Eve closing of 102,186.03.Despite this dip, market activity surged, with trading volume increasing by 11.62% to reach 443 million shares, up from 397 million.The market capitalization held tight to N61 trillion, closing at N61.9 trillion, supported by 12,551 transactions.UPL distinguished itself as the leading gainer, achieving an increase of 10.00%. Following closely were WAPIC and UNIVINSURE, each also rising by 10.00%.In contrast, HONYFLOUR experienced the steepest decline, with a drop of…
The Nigerian Communications Commission (NCC) has granted approval to MTN Nigeria to disconnect Exchange Telecommunications Limited from its network.According to a public notice issued by the telecom regulator on Friday, the disconnection notice followed Exchange Telecoms’ failure to settle its interconnect charges.Exchange Telecoms facilitates interconnection of calls and data traffic locally and internationally and it is currently connected to all the Mobile Network Operators (MNOs) to do that.This disconnection means that the Exchange company would no longer be able to pass MTN calls and data traffic to other networks, but the NCC said MTN would switch to alternative channels after…
The Lagos State Government has officially signed an agreement for the development of a major housing project in Ikorodu.The Odonla-Odugunyan housing estate project, set to cover an expansive 9.98 hectares of land, will feature 704 modern 2-bedroom apartments across 44 blocks.The announcement was conveyed via the official Facebook page of the Lagos State Government on Friday.Accompanying the post was a picture of the Lagos State Governor, Babajide Sanwo-Olu, flanked by his Deputy, Obafemi Hamzat, and two other individuals. Each person was seen holding up a copy of the apparent agreement, signifying that the governor had signed the deal on behalf…
Nigeria has reportedly renewed a currency swap deal worth $2 billion with China in a bid to strengthen bilateral trade and investment between both countries.As reported by Bloomberg, the renewal of the currency swap deal of $2 billion (15 billion yuan) was confirmed by the People’s Bank of China on Friday.The currency deal involves providing naira liquidity to Chinese businesses and yuan liquidity to Nigerian businesses, in order to reduce both parties’ dependence on the dollar for transactions.The deal was first signed in April 2018 for a period of three years amid dollar shortages in Nigeria. However, “the agreement is…
Access Holdings Plc, the parent company of Access Bank, has secured “full regulatory approval” from the CBN and SEC for its Rights Issue.The bank was the first of the FUGAZ to embark on a right issue earlier in the year where it sought to raise N351 billion, increasing its share capital to N600 billion. The bank confirmed in a recent notice to investors that it successfully raised the N351 billion becoming the first to surpass the CBN’s N500 billion minimum capital requirement for banks with international authorization, well ahead of the March 2026 deadline.According to the disclosure, the rights issue of…