Author: Citynews

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earnings recorded was moderated by a ₦46.2 billion fair value loss recognized in H1-2026, limiting y-o-y growth in PBT to 0.4%.The Group grew across its asset lines, reinforcing a balance sheet that…

Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi has said he would restore petroleum subsidy if elected president in the 2027 general elections, but only after addressing corruption in the system. Obi made the declaration on Monday during a town hall meeting organised for the Obi-Kwankwaso presidential ticket in Sokoto State. The former Anambra State governor identified corruption as a major problem affecting the country’s economy and public institutions. He said his proposed approach to subsidy would be tied to efforts to eliminate corrupt practices surrounding the petroleum sector. “People are talking about subsidy but what is all about it is…

KEY TAKEAWAYS Former Kogi West Senator, Dino Melaye, said Atiku Abubakar’s plan to restore petrol subsidy could crash pump price to ₦400-₦500 per litre. Melaye said on AIT’s Democracy Today on Monday that petrol now sells around ₦1,400, and subsidy return would cut transport costs and reduce prices of goods. Atiku, the ADC presidential candidate for 2027, announced his campaign council on Thursday, while President Bola Tinubu dismissed the subsidy plan as ignorant. Former Kogi West Senator Dino Melaye has said the plan by former Vice-President Atiku Abubakar to restore petrol subsidy could bring the price of fuel down to between ₦400 and ₦500…

The Federal High Court in Abuja has fixed November 19, 2026, to deliver judgment in a suit challenging the emergence of former Kogi State Governor, Yahaya Bello, as the All Progressives Congress senatorial candidate for Kogi Central. Justice Inyang Edem Ekwo fixed the date on Monday after counsel representing the parties adopted their final written addresses in the suit. The case was instituted by Momoh Yusuf Obaro, an APC senatorial aspirant in Kogi Central, who is challenging the outcome of the party’s May 18, 2026, primary election. Obaro joined the APC, Bello and the Independent National Electoral Commission as defendants in the…

Ahead of the 2027 general elections, the management of Kebbi State’s finances has emerged as a major political issue, with the African Democratic Congress, ADC, demanding an account of funds it said accrued to the state between May 2023 and October 2025. The dispute centres on N627.14 billion, which the Kebbi ADC says the state received during the period, and is challenging the government to account for through detailed records of revenue, expenditure and projects delivered. The state government has rejected the allegation of financial mismanagement, arguing that projected revenue in government budgets should not be confused with money actually…

The Nigeria Democratic Congress (NDC) is facing a fresh internal disagreement over the role and control of support groups backing its 2027 presidential ticket of Peter Obi and Rabiu Kwankwaso. This latest dispute centres on the relationship between the party and organisations such as the Obi-Kwankwaso Movement, Obidient groups and Kwankwasiyya. Some of the groups insists that their existing structures cannot be placed under the direct control of the NDC. The disagreement has become more pronounced after the NDC moved to establish clearer structures for support groups ahead of the 2027 general elections. While the party maintains that support organisations…

Six governorship candidates of the Nigeria Democratic Congress (NDC) in the North-East have rejected the appointment of former Secretary to the Government of the Federation, Engr. Babachir Lawal, as the party’s leader in the subregion. The governorship candidates, in a joint statement addressed to the national leadership of the party, Senator Henry Seriake Dickson, made available to journalists on Sunday, stated that they would not recognise Babachir Lawal in the position, describing their decision as “collective, firm and final.” The candidates on Sunday declared that the appointment was made without consultation with them or other key stakeholders who, according to…

KEY TAKEAWAYS INEC Chairman, Prof. Joash Amupitan, said the commission has no preferred candidate or party for the 2027 election, promising neutrality, fairness and transparency. Prof. Joash Amupitan spoke during a visit to the Emir of Zazzau, Amb. Ahmed Nuhu Bamalli, ahead of INEC’s zonal interactive meeting and readiness assessment for 2027. Amb. Ahmed Nuhu Bamalli urged INEC to deliver sensitive materials on time, test devices before deployment, improve security and promptly announce results to build public confidence. The Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, has reiterated the neutrality of the commission in conducting elections. According…

The gubernatorial candidate of the All Progressives Congress, APC, in Oyo State, Senator Sharafadeen Alli has declared that Governor Seyi Makinde has paralysed the local government system in the state. Alli, in a statement, explained that the governor has no confidence in the local government system, which is why it is not working in the state. The statement was signed by the Director of Media and Publicity of his campaign organisation, Bisi Oladele. DAILY POST reports that Makinde is the presidential candidate of the Allied Peoples Movement (APM) in the 2027 general elections. Alli currently represents Oyo South Senatorial District…

The Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, has vowed to remain focused on his duties despite what he described as attempts to blackmail and distract him following allegations surrounding the purported Presidential Foreign Investment Promotion Council (PFIPC). Gbajabiamila, who spoke in Lagos on Saturday, said investigations conducted by relevant government agencies had cleared him of any wrongdoing. The former Speaker of the House of Representatives spoke at the 2026 Gbaja Mega Empowerment programme in Surulere, where about 5,000 constituents benefited from cash grants, vehicles and other forms of support. Reflecting on the controversy surrounding the PFIPC, Gbajabiamila…