Author: Alade Adisa

The Central Bank of Nigeria (CBN) has imposed fines of N150 million each on nine Deposit Money Banks (DMBs) for failing to dispense cash via Automated Teller Machines (ATMs) during the festive season. This enforcement action follows spot checks on branches, revealing non-compliance with CBN’s cash distribution guidelines. The sanctioned banks are Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc. The fines, totalling N1.35 billion, will be debited from the banks’ accounts with the apex bank. This is…

Mediators have handed Israel and Hamas the final draft of a deal that could finally bring the 15-month-long Gaza war to a close — with US officials saying a ceasefire was closer than it’s ever been after a midnight breakthrough in negotiations. An official briefed on the talks — which have been attended by envoys of both US President Joe Biden and President-elect Donald Trump — told Reuters that Qatar presented terms to both sides at a conference in the nation’s capital of Doha. The ceasefire agreement’s text would end hostilities and release hostages — and another round of talks…

Ukraine struck several targets deep inside Russia on Tuesday in what it says is its “most massive” attack of the war so far. Ammunition depots and chemical plants were hit across several regions, some of which were hundreds of kilometres from the border, according to the General Staff of Ukraine’s Armed Forces. Sources in Ukraine’s SBU intelligence agency told the BBC the overnight attack was a “painful blow” to Russia’s ability to wage war. Russia said it had shot down US-supplied Atacms missiles as well as UK-made Storm Shadow cruise missiles, and vowed to respond to the attack. At least…

The Lagos State Government has ordered striking workers of Lagos Television (LTV), Radio Lagos/Eko FM, and Lagos Traffic Radio to resume duties immediately. This directive, issued late Monday night by the Commissioner for Establishments and Training, Afolabi Ayantayo, comes amidst mounting tension between the government and labour unions. The government accused the unions, including the Nigeria Labour Congress (NLC), the Radio, Television, Theatre and Arts Workers Union (RATTAWU), and the Nigerian Union of Journalists (NUJ), of resorting to violence during their strike. In what the government described as a “disturbing show of aggression,” it said union members tore down doors,…

North Korean soldiers sent to bolster Russia’s forces are resorting to extreme measures. One recently detonated a grenade and blew himself up to avoid getting captured by Ukrainian troops. For weeks, Ukrainian troops have been fighting against an unfamiliar enemy —North Korean soldiers sent to bolster Russia’s forces on the battlefield. More worryingly, North Korean soldiers have posed new challenges for Ukraine by blowing themselves up before getting captured. According to a social media post by Ukraine’s Special Operations Forces, after a battle in Russia’s Kursk region this week, Ukrainian forces found the bodies of more than a dozen slain…

As the Abu Dhabi Sustainability Week (ADSW 2025) gets underway, President Bola Tinubu has said that Africa has what it takes to develop itself and should look inward to improve intra-African trade in the interest of the people and the continent. Writing on his official X account on Monday, the President said he had successful conversations with the Rwandan President, Paul Kagame, as the Abu Dhabi Sustainability Week (ADSW 2025) enters day three. President Tinubu wrote, “We have the resources, the people and the capacity. We must look inward to improve intra-African trade and collaboration to benefit the African people…

The All Progressives Congress (APC) has declared that it is not bothered by the ongoing political romance between the camp of former Vice President Atiku Abubakar, immediate past governor of Kaduna State, Nasir el-Rufai, and the opposition Social Democratic Party (SDP). It could be recalled that the former governor, who is still a chieftain of APC, held a closed-door meeting with the leadership of the SDP and some allies of Atiku, who was the 2023 presidential candidate of the Peoples Democratic Party (PDP) last week, sparking talks of a coming merger or coalition of some sort for the 2027 general…

There is a high indication that Premium Motor Spirit (PMS), also known as petrol would likely cost more as depot owners increased prices by about 4.74 per cent to N950/litre due to the rising crude oil prices. Recall that the cost of Brent, the global benchmark for crude, reached $79.76 per barrel on Sunday. With the new development, this current situation indicates that filling stations nationwide may adjust their pump prices to reflect the higher costs of refined products. For instance, Nigeria’s Bonny Light rose to $80 per barrel this week from $73 per barrel last week. Going around one…

As the National Assembly resumes today, Northern lawmakers in the legislative arm have concluded plans for a showdown if the tax reform bills currently before the assembly are not withdrawn. With clear vehemence, they have reiterated their calls for the withdrawal of the bills, citing concerns about the timing, lack of proper consultations with stakeholders, and the structure and content of the bills. Even though the bills passed second reading in the Senate before the red chamber went on the yuletide break, further legislative work was paused for additional consultations following widespread controversy. In a bid to address these concerns,…

Five officials of the Katsina State Board of Internal Revenue have been arrested by operatives of the Kano Zonal Command of the Economic and Financial Crimes Commission (EFCC) over the alleged diversion of N1,294,337,676.53 (One billion, two hundred and ninety-four million, three hundred and thirty-seven thousand, six hundred and seventy-six Naira, fifty-three kobo) belonging to the Katsina State Government. Confirming the development on Monday in Abuja, EFCC Spokesperson, Dele Oyewale, who noted that the suspects are currently being detained at the Kano Zonal Command of the EFCC, said they will be charged to court upon the conclusion of investigations. Oyewale…