Author: Citynews

The Lagos State House of Assembly has emphasised the need for a proactive approach in addressing domestic and sexual violence in the state.At a sitting presided over by the Speaker, Rt. Hon. Mudashiru Obasa, the House stressed the importance of establishing guidance and counseling units in schools and religious institutions as a way to reach out to the public and prevent such violence.The House also called on the Ministry of Information to continue its enlightenment campaigns.In his position, Dr. Obasa pointed out the complexities involved in cases of domestic violence, particularly the impact on children.“We thank the agencies in Lagos…

…as Matawalle reinstates Tinubu’s resolve to wipe out terroristsIn a significant move to tackle the growing insecurity in the North-West region, Minister of State for Defence, Bello Matawalle, has arrived in Sokoto.Matawalle is joined by Chief of Defence Staff, Gen. Christopher Musa and other top military chiefs in a bid to boost troops’ morale and intensify the fight against banditry, kidnapping, and terrorism.The Minister’s visit comes on the heels of his recent expression of sadness over the activities of terrorists and bandits in Sokoto, Zamfara, Katsina, and Kebbi States.Matawalle assured the people of the region that the security forces would leave…

The Nigerian Employers’ Consultative Association (NECA) has expressed concerns over the Federal Competition and Consumer Protection Commission’s (FCCPC) recent focus on pricing regulations, suggesting that the commission’s actions may inadvertently harm the economy if broader issues affecting market dynamics are ignored. Speaking during an appearance on the popular TVC business program “Business Nigeria”, Director General, NECA, Adewale Oyerinde expressed displeasure with the FCCPC’s recent directives mandating retailers to reduce prices. Oyerinde noted that while the intent behind these directives—to protect consumers—is commendable, the approach failed to account for the complex factors driving up prices, which include foreign exchange volatility, rising…

L-R: Finance Director, Nigerian Breweries Plc, Ben Wessels Boer; Group Managing Director/Chief Executive Officer, Vetiva (Lead Issuing House), Chuka Eseka; Managing Director, NB Plc, Hans Essaadi; Company Secretary/Legal Director, NB Plc, Uaboi Agbebaku; Independent Non-Executive Director, NB Plc, Adeyinka  Aroyewun and Chief Executive, Stanbic IBTC Capital Limited, Oladele Sotubo during the signing ceremony of Nigerian Breweries Plc’s ₦599.1 billion Rights Issue held at the company’s headquarters in Lagos today. Following receipt of the approval of its shareholders in April 2024, Nigerian Breweries Plc (“Nigerian Breweries” or the “Company”) has now received clearance of the relevant documents from the Securities and…

Mamador, a leading premium food brand in Nigeria in the Vegetable Oil and Spread segments, has called on Nigerian women to give utmost priority to their wholesome health and maximize the opportunities available with their financial resources. This was the submission of the Head of Marketing, PZ Wilmar, Chioma Mbanugo who delivered the welcome remarks during the 5th edition of its annual August Meeting held on Friday, August 30, 2024. Speaking on the theme titled “Nourish to Flourish: Elevating Health and Wealth”, Mbanugo noted that the annual August Women meeting by Mamador is not only a communal gathering but a…

Two staff of Keystone Bank Limited, Ebele Bernardine Okpala and Perpetua Onyeto, have been arraigned before a Lagos Federal High Court, on charges bordering on alleged conspiracy, theft, money laundering and obtaining the sum of N35 million by false presence.The two bankers were arraigned last Friday, by the Special Fraud Unit (PSFU) of the Nigeria Police, Ikoyi, Lagos.The prosecutor, Barrister Eliot Ijie, a Chief Superintendent of Police (CSP) told the court that the two bankers committed the offences sometimes in July 2023.Particularly, CSP Ijie told the court that the first defendant, Ebele Bernardine Okpala, who worked in one of the…

The APC Youth Solidarity Network has demanded the immediate resignation or sack of Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPC Ltd), following the company’s admission of owing a staggering $6.8 billion in debt. This shocking revelation has sparked widespread outrage and raised fundamental questions about Kyari’s leadership and governance style.Olalekan Isaac, the President of the group, at a press conference in Abuja, branded Kyari’s leadership a “catastrophic failure” marked by a lack of transparency, accountability, and fiscal prudence. He condemned NNPC’s initial denial of the debt as a “brazen lie” that has…

Zenith Bank Plc has announced its audited results for the half-year ended 30 June 2024, recording an impressive triple-digit growth of 117% in gross earnings from N967.3 billion reported in H1 2023 to N2.1 trillion in H1 2024. This superior performance has been achieved even as the Nigerian banking industry navigates a challenging macro environment.According to the bank’s audited half-year financial results presented to the Nigerian Exchange (NGX) on Friday, 30th August 2024, the triple-digit growth in the top line also drove growth in the bottom line as the Group recorded a 108% Year on Year (YoY) increase in profit…

A rights group, Centre for Human Rights in Africa, has written to the new Director-General of the Department of State Services (DSS), Adeola Ajayi, calling for an investigation into the activities of Mele Kyari, Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), and other top officials in the oil sector. In the letter signed by Princess Caroline Obi, the group alleged that Kyari and other officials, including Gbenga Olu Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Farouk Ahmed, Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),…

A US federal court has ordered a Nigerian businessman, Dozy Mmobuosi who last year sought to buy the English football club Sheffield United, to pay more than $250mn in fines and barred him from serving as a director of a public company.Last year, the US Securities and Exchange Commission had charged Dozy Mmobuosi and three of his companies, including two Nasdaq-listed enterprises, with fraud for inflating the “financial performance metrics of his companies and key operating subsidiaries to defraud investors worldwide”.Judge Jesse M Furman, of the US District Court for the Southern District of New York, has now entered a…