Day: February 2, 2024

Femi Otedola becomes chairman of FBN Holdings

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Mr Femi Otedola, billionaire businessman and chairman of Geregu Power Plc, has emerged as the chairperson of the board of FBN Holdings Plc, whose flagship arm is First Bank. Otedola was passed the baton at a meeting of the Board of Directors of the Group in Lagos on Wednesday. He succeeded Ahmad Abdullahi, a seasoned economist who was appointed chair of the Holdco on 17 December 2021. Otedola became a non-executive director of FBN Holdings on 14 August 2023, months after he acquired a substantial stake in First Bank. The…

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Traditional ruler killed by gunmen in Kwara, wife, 2 others abducted

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The palace of Olukoro of Koro in Ekiti local government area of Kwara State was on Thursday night invaded by gunmen who killed the traditional ruler of the community, General Segun Aremu (rtd). The gunmen also whisked away the wife of the monarch and two others. The state government has confirmed the killing of the monarch and the abduction of three others including his wife. “Kwara State governor, AbdulRahman AbdulRazaq has condemned the killing of Olukoro of Koro in Ekiti Local Government, HRH retd General Segun Aremu. “The monarch was…

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Import duty rate increased by 43 percent

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The Central Bank of Nigeria, CBN, has approved an increase in the import duty rate by 43 percent. Recall that the exchange rate for duty collection is usually determined by the CBN. Importers and stakeholders in trading woke up on Friday to find the increase in the exchange rate, which before now was set at N951.842 per $1 as of December 2024, taken up to N1356.42. Reacting to the development, Chief Executive Officer of the Center for the Promotion of Private Enterprises, CPPE, Dr. Muda Yusuf, expressed shock at the…

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UK teens face sentencing over killing trans girl

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Two juveniles have been convicted in the UK for the murder of a 16-year-old transgender girl in a “frenzied and ferocious” knife attack. Scarlett Jenkinson and Eddie Ratcliffe, both 16, killed Brianna Ghey in Warrington, northwest England, in February last year, in a case that shocked the country because of their young ages. Their victim was stabbed 28 times in the head, neck, back and chest. Her body was discovered by dog walkers in a park. Jenkinson and Ratcliffe were just 15 at the time. Under-18s on trial in the…

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K1 to Tinubu: Nigerians are suffering, address economic pains

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Wasiu Ayinde Marshal, popularly known by his stage name, K1 De Ultimate, has told President Bola Tinubu that Nigerians are suffering and angry with his government due to the current poor state of the economy. K1 said this in a video recording that surfaced on Thursday during one of his recent stage performances. Before K1, his daughter, Dami Ayinde, lent her voice on Wednesday to the current economic situation, which she said wasn’t what the All Progressives Congress promised. On her Instagram stories, the young lawyer said the APC was…

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EFCC traces N7bn fraud proceeds to religious organization

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The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that the anti-graft agency traced the sum of N7bn, suspected to be proceeds of money laundering, to a religious organisation. He said another religious group was found to be laundering money for terrorists. The EFCC chairman made the revelation on Wednesday at the Musa Yar’Adua Centre, Abuja, during a one-day dialogue on “Youth, Religion, and the Fight against Corruption.” He said some of the religious organisations, institutions, sects, and bodies in the country had been found to…

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