Five Banking Groups Face N972bn Capital Hurdle
Five major Nigerian banking holding companies must raise an estimated N971.8 billion in fresh equity…
Five Banking Groups Face N972bn Capital Hurdle
Five major Nigerian banking holding companies must raise an estimated N971.8 billion in fresh equity capital under proposed central bank rules. Investment firm Renaissance Capital Africa revealed the massive funding gap following a thorough review of the draft regulatory framework. The apex bank intends to compel parent corporations to hold extra cash to cushion their…
Tems Hits Historic US Diamond Single Milestone
Grammy-winning Nigerian singer Temilade Openiyi has become the first female African artist to earn a Diamond-certified single in the United States. The Recording Industry Association of America awarded the elite certification after her hit collaboration surpassed ten million units. The chart-topping track, Wait For U, features American rapper Future and Canadian star Drake. Industry data…
India Joins Elite Private Orbital Rocket Club
India has successfully launched its first privately built orbital rocket into space from the state-run Satish Dhawan Space Centre in Sriharikota. The four-stage Vikram-1 vehicle, developed by aerospace startup Skyroot Aerospace, successfully reached low-Earth orbit on Saturday morning. This maiden test flight makes India only the third country in the world with domestic private orbital…
FG Files Charges Against Alleged School Kidnappers
The federal government has filed a ten-count criminal charge against three men accused of kidnapping schoolchildren and teachers in Oyo State. The prosecution filed the case at the Federal High Court in Abuja following a sweeping counter-terrorism investigation. The state accuses the defendants of terrorism, kidnapping, concealment, incitement, and running illegal mining operations. Department of…
Ukrainian Drone Strikes Leave Eight Dead in Russia
A massive overnight Ukrainian drone offensive has killed at least eight people and wounded dozens across several Russian regions. The deadliest strike targeted a major retail logistics hub in the western Tambov region during a night shift. Moscow officials report heavy civilian casualties, while Kyiv maintains that the targeted facilities aid the Russian war effort….
Ekong Eyes NFF Role, Rejects Coaching
William Troost-Ekong has signalled that his next contribution to Nigerian football will come from the committee room rather than the dugout, arguing that the Super Eagles will not climb back to their former heights until more former internationals are handed genuine authority over how the game is run. The former captain, who ended a…
Court Dismisses Suit to Recognise Turaki-Led PDP Leadership
The battle for control of the Peoples Democratic Party returned to familiar ground on Friday, as a Federal High Court in Abuja struck out a suit that sought to force the electoral umpire to recognise the Kabiru Turaki led Interim National Working Committee, leaving one of Nigeria’s oldest political parties still split down the…
Dangote Secures $2.5bn Ahead of Record Africa IPO
Aliko Dangote has all but concluded a $2.5bn private share placement for Dangote Petroleum Refinery and Petrochemicals FZE, clearing the path for what is widely projected to become the largest initial public offering in Africa’s history and one of the boldest tests yet of the continent’s ability to finance its own industrial ambitions from…
Nigeria Records Highest Academic Fraud Signals in UK
Qualifications awarded in Nigeria have emerged as the most flagged in the United Kingdom’s newest review of suspected academic fraud, recording an eight per cent fraud signal rate, higher than qualifications from Pakistan at 7.3 per cent, Ghana at 5.1 per cent and India at 4.2 per cent. The reading is the highest among…
Sixth Facility In Tinubu’s Name: Coastal Road Renaming Sparks Backlash
A single announcement from the Federal Ministry of Works has once again placed the question of political self commemoration at the centre of national conversation, after the government renamed its flagship coastal road the President Bola Ahmed Tinubu Coastal Highway, making it the sixth public facility to bear the President’s name since he…