Author: Naija Daily News

By Sadeeq Kamsela, Abuja Access Bank Plc is targeting a fresh 194 billion injection through its latest commercial paper (CP) issuance, as part of its broader N400 billion CP programme. The latest issue is structured into two tranches: Series 3 and Series 4, with each catering to different investor preferences (according to reports by Nairametrics and other sources), with Series 3, with a 180-day term, features a discounted rate of 19.44% and an effective yield of 21.50%. The Series 4, spanning 270 days, offers a discounted rate of 20.92%, yielding 24.75% upon maturity, with investors able to subscribe between March…

The Economic and Financial Crimes Commission, EFCC, is set to prosecute a South Africa-based man, Sunday Okorie, who was arrested with a whopping $578,000 cash at the Murtala Muhammed International Airport, Lagos. Okorie was arrested by operatives of the Nigerian Custome Service with the undisclosed foreign currency, which is approximately ₦901.7 million at the black market rate of N1,560 to one dollar. The suspect, who arrived from Johannesburg, South Africa, on Wednesday, initially claimed to be carrying $279,000 (about ₦435.2 million). However, a thorough search by customs officers uncovered an additional $299,000 (about ₦466.4 million) hidden in separate packages, along…

By Tunde Rahman As the leadership crisis rocking Rivers State escalated into the destruction of vital oil and gas infrastructure amid looming impeachment threats against Governor Siminalayi Fubara and his deputy Ngozi Odu, President Bola Tinubu wielded the big stick last Tuesday imposing a state of emergency on the oil rich state. He suspended the governor, his deputy and the inflexible state House of Assembly for a period of six months, and appointed former Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas (rtd), as the administrator of the state. Following his inauguration on Wednesday, Ibas has begun the critical assignment. The ex-Naval…

By Deborah Nnamdi Gunmen suspected to be kidnappers have abducted a Nigerian Navy officer attached to the Defence Headquarters, Lt. Cynthia Akor, along with two others from their residence in the Mpape area of the Federal Capital Territory, Abuja, on Friday night. A source said the kidnappers have contacted the families of the hostages, demanding a ransom of N100 million for their release. “Among the three people who were kidnapped on Friday night in the Mpape area is a DHQ official, Akor. “The kidnappers have already reached out to their families and are demanding N100m ransom,” the source said. The…

By Deborah Nnamdi In response to several requests for the Nigeria Governors’ Forum (NGF), the organization representing the 36 state Governors, to comment on the six-month suspension imposed on Governor Siminalaye Fubara of Rivers State by President Bola Tinubu, the forum has stated that it is unable to address the issue. In a statement issued on Saturday in Abuja by its Director General, Abdulateef Shittu, NGF clarified that, as a technical and policy body made up of Governors from different political backgrounds, it chose to refrain from taking a stance that could potentially alienate members with differing political views. The…

Former President Goodluck Jonathan has expressed deep concern over the suspension of elected officials in Rivers State, warning that such actions could damage Nigeria’s democratic reputation and deter foreign investments. Speaking at the Haske Satumari Foundation Colloquium in Abuja on Saturday, Jonathan condemned the unfolding political crisis, stressing the importance of upholding democratic principles. “These actions by key figures in the executive and legislative arms of government project the country in a negative light,” he stated. While former presidents typically avoid commenting on political matters to prevent escalating tensions, he insisted that Nigeria’s global perception and its ability to attract…

A total of N1.678 trillion in Federation Account revenue for February 2025 has been distributed among the Federal Government, State Governments, and Local Government Councils, which is N25 billion lower than N1.703 trillion in January. The allocation was finalized during the March 2025 meeting of the Federation Account Allocation Committee (FAAC) in Abuja, chaired by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. The N1.678 trillion disbursement marks a slight decline from the N1.703 trillion allocated in January 2025. The February allocation reflects a reduction of N25 billion, or approximately 1.47%, compared to the previous month’s…

The Nigeria Customs Service (NCS) Federal Capital Territory (FCT) Command has successfully intercepted $193,000 in undeclared foreign currency, hidden inside a carton of yoghurt, at the Nnamdi Azikiwe International Airport in Abuja. The illicit fund of $193,000 (₦300,480,000, based on an exchange rate of ₦1,560 to $1), was intercepted following credible intelligence and a thorough baggage inspection of an arriving passenger. Speaking to journalists at the airport’s International Wing, Customs Area Controller Comptroller Olumide Adebisi revealed that the suspect, 40-year-old Kamilu Abdullahi Sarina, arrived in Nigeria aboard Ethiopian Airlines Flight No. 951 from Jeddah, Saudi Arabia. He said acting on…

Former heavyweight champion George Foreman, who lost to Muhammad Ali in boxing’s iconic 1974 “Rumble in the Jungle” before reclaiming the title two decades later, died Friday aged 76, his family said. Fondly known as Big George, Foreman dropped out of school and went on to become an Olympic gold medallist, two-time world champion and legend of boxing. He fought 81 times as a professional, winning 76, 68 of those by knockout. As well as boxing he put his name to the “George Foreman Lean Mean Fat-Reducing Grilling Machine,” appearing smiling and friendly in the TV ads, becoming a celebrity…

By Didimoko A. Didimoko Senate President Godswill Akpabio has denied rumours that he bribed senators with $15,000 to support the proclamation of a state of emergency in Rivers State. He called the allegations part of a smear campaign against him. Akpabio, who is also facing allegations of sexual harassment made by Kogi Central Senator Natasha Akpoti-Uduaghan, spoke through his media aide, Nseme Eyibo. For the first time, Akpabio addressed the claims circulating on social media. It was suggested that he distributed dollars to senators during a breaking of fast at his Maitama residence, with $5,000 given on Tuesday and $10,000…