The Senate on Tuesday has approved a bill to increase the minimum capital requirement for insurance companies in Nigeria from ₦2 billion to ₦10 billion, marking a 400% rise. In the capital requirement enshrined in the bill, a person shall not carry on an insurance business in Nigeria unless the insurer has and maintains, while…
The Kano/Jigawa command of the Nigeria Customs Service(NCS), has seized 2,179 kilograms of pangolin scales in a joint enforcement operation with the Wildlife Justice Commission (WJC). A statement by the command’s Public Relations Officer, SC Saidu Nuruddeen, said one suspect had been arrested in Mubi,Adamawa,in connection with the matter. Nuruddeen said the command was supported…
The National Bureau of Statistics has revealed that Nigerians paid a total of N2.23tn as ransom over the 12 months between May 2023 and April 2024. This sum was paid by households affected by kidnapping incidents, highlighting the growing threat posed by criminal activities in the country. According to the NBS’s latest Crime Experience and…
At least 25 people consisting mostly of women and children, have been abducted by gunmen suspected to be terrorists in Batsari Local Government Area of Katsina State. The incident which occurred late Sunday night at Ajasa community, also saw several homes ransacked by the hoodlums. According to the Guardian newspaper, A resident of the community…
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has announced plans to convert 100,000 vehicles to compressed natural gas (CNG) in the next 18 months. Charles Odii, Director General of SMEDAN, spoke at the unveiling of a CNG conversion and training centre located at the SMEDAN headquarters in Abuja. Odii said the initiative,…
Niger State Governor, Umaru Bago, has expressed heartfelt sympathy to residents and shop owners near NSTA garage, Tunga, Minna, following a fire outbreak that destroyed properties worth millions of Naira. The governor, in a statement issued by his Chief Press Secretary, Bologi Ibrahim, acknowledged that it was a tragic and trying moment for the victims…
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has disclosed that the Commission, in a landmark raid, arrested 792 suspects for their alleged involvement in cryptocurrency investment fraud and romance scam. The suspects were apprehended on Tuesday, December 10, 2024, in a surprise operation at their hideout, an imposing seven-storey edifice…
By Rabiu Murtala Hamza The Association of Zakat and Waqaf Operators in Nigeria ( AZAWON) under the patronage of the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, has disbursed N90 million cash in Zakat to deserving beneficiaries in Lafiya district, Wuri Local Government of Jigawa state. The disbursement was a sideline ceremony of just concluded…
The Federal Executive Council (FEC) on Monday approved the proposed sum of N47.96 trillion naira for the year 2025 budget. The Minister of Budget and Economic Planning, Senator Atiku Bagudu, disclosed this while briefing newsmen after the council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. The minister explained that the…
President Bola Tinubu has approved free nationwide train rides from December 20, 2024, to January 5, 2025, as part of the Federal Government’s efforts to ease transportation costs during the Christmas and New Year celebrations. The Minister of Information and National Orientation, Mohammed Idris, told State House correspondents in Abuja. Idris explained, “As we did…
