Author: New Daily Prime

The Nigerian Exchange (NGX) saw a significant boost on Monday, following the listing of additional shares by Fidelity Bank Plc, which increased the market capitalisation by N94 billion. This surge comes after the successful conclusion of the bank’s hybrid offer, which included both a rights issue and a public offer both of which were oversubscribed. A total of 18.2 billion ordinary shares, each valued at 50 kobo, were added to the NGX’s daily official list as part of this offering. The rights issue, which comprised 3.2 billion ordinary shares priced at N9.25 each, was fully subscribed. Meanwhile, the public offer,…

The Federal Airports Authority of Nigeria (FAAN) has called on industry unions to engage in dialogue with the Federal Government concerning the planned concession of key airports. This follows growing resistance from unions, including the Association of Nigeria Aviation Professionals (ANAP), the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), and the National Union of Air Transport Employees (NUATE), who have raised concerns about job security and transparency in the process. The unions have voiced their opposition after the release of concession documents, which they claim excluded their representatives—contrary to prior agreements. They have since issued a 14-day ultimatum…

Ondo State Governor, Mr Lucky Aiyedatiwa, has approved the recruitment of 2,000 teachers to fill vacancies in the state’s public schools. The approval includes 1,000 teachers for secondary schools and another 1,000 for primary schools. This decision follows the successful completion of the recruitment process by the Teaching Service Commission (TESCOM), which had screened thousands of applicants last year. READ ALSO: Tinubu congratulates Aiyedatiwa on fresh term as Ondo gov In a statement issued on Monday, March 3, by his Chief Press Secretary, Mr Ebenezer Adeniyan, the governor expressed his concern over the shortage of teaching staff, particularly in rural…

Trump has paused all current military aid to Ukraine until President Volodymyr Zelensky demonstrates a commitment to peace, according to a senior Defence Department official speaking to Bloomberg. The decision affects all U.S. military equipment not yet in Ukraine, including weapons currently in transit or waiting to be shipped from Poland. This marks a significant shift in U.S. policy, raising concerns about the impact on Ukraine’s war effort against Russia. Trump Warns Zelensky: ‘Won’t Be Around Very Long’ Trump’s decision comes after he issued a stern warning to Zelensky on Monday, stating that the Ukrainian leader “won’t be around very…

Traders had been expecting cartel to postpone its plan to boost output Opec+ said it will proceed with a plan to increase oil production from April, in an unexpected move by the cartel that sent crude prices tumbling. Saudi Arabia and seven other members of the Opec+ group had previously delayed a plan to unwind long-standing output cuts several times and traders had widely expected it to be postponed again. But Opec+ said on Monday it had agreed to proceed with the “gradual and flexible return” of 2.2mn barrels a day of oil production over the next 18 months.…

French discuss proposal for Kremlin to lose securities if it breaches a future ceasefire Europe’s biggest powers are swinging behind efforts to seize more than €200bn of frozen Russian assets, as they draw up plans for a ceasefire deal in Ukraine. France and Germany, long opposed to a full-blown seizure of the assets held in the EU, are discussing with the UK and other countries ways in which they could be used. French officials have discussed a proposal for European capitals to seize the assets if Moscow were to violate a future ceasefire deal in Ukraine, said three people briefed…

The increasing use of human rights laws by foreign criminals to avoid deportation from the UK has become a growing concern in recent months. In the latest case, a psychotic Nigerian armed robber and crack cocaine dealer has been spared deportation because he would be considered “possessed” in his home country. This case follows similar rulings where convicted foreign criminals have successfully used human rights claims to remain in the UK. Examples include: Serial Offender Avoids Deportation Over Mental Health Concerns The Nigerian-born offender, whose identity is protected for legal reasons, has spent much of his time in the UK…

Hungary has obstructed the European Union’s draft document that proposed security guarantees for Ukraine and a new military aid package, Politico reports. During a meeting of EU ambassadors on Friday, Hungary opposed the draft text, which outlined potential security assurances from the EU to Kyiv, as well as a new military assistance package. Hungary’s position on the Ukraine-Russia conflict has been notably different from that of its EU counterparts. Prime Minister Viktor Orbán has consistently advocated for immediate peace negotiations and has taken a cautious approach to supporting Ukraine militarily. In July 2024, Orbán visited Kyiv and proposed a ceasefire…

Mojisola Meranda has been reelected as the Deputy Speaker of the Lagos State House of Assembly following her resignation as Speaker on Monday afternoon. Meranda, who had only assumed the role of Speaker on January 13, 2025, after the impeachment of former Speaker Mudashiru Obasa, read out her resignation letter at the plenary. She expressed her commitment to serving the state in her new role as Deputy Speaker, pledging to carry out her duties in good faith. Following Meranda’s resignation, the House moved swiftly to reconstitute its leadership, with new nominations made. Mudashiru Obasa, who had been ousted earlier this…

A retired Assistant Inspector General of Police, Mr. Abiodun Asabi, has highlighted inadequate support, particularly in terms of funding, as a major challenge facing the Nigeria Police Force. Asabi, a former Commissioner of Police in Ondo State, made the call while speaking with journalists at his retirement and pull-out parade in Akure, the Ondo State capital, on Monday, March 3. Asabi urged the Federal Government and other stakeholders to provide more funding and assistance to the police in their efforts to tackle the rising wave of criminality and insecurity across Nigeria. He stressed that, based on his 35 years of…