Author: Citynews

When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer than ever imagined. In full year 2022. Fidelity Bank briefly fell into the Tier 1 category and saw the highest gross earnings of N337.10 billion and profit before tax of N53.68 billion. The bank’s higher interest income relative to interest expense led to a net interest margin of 7.70 per cent, ahead of other similar banks. Regarding its financial…

Minister of Interior, Dr Olubunmi Tunji-Ojo, said on Thursday that the government would relocate a lot of correctional centres to create better space, security, and infrastructure. Tunji-Ojo made the pledge when he visited Suleja Medium Security Custodial Centre, where 119 inmates escaped following a rainstorm that damaged the facility on Wednesday. This is contained in a statement issued in Abuja by the Director of Press and Public Relations of the ministry, Mr Ozoya Imohimi. The minister said it was imperative to relocate a lot of the correctional centres to conducive environment. “This facility was built in 1914 to house 250…

Prosecution Witness Eight, (PW8), Hamma Adama Bello in the trial of former Head of Service (HoS), Winifred Oyo-Ita on Thursday, April 25, 2024 narrated before Justice James Omotosho of the Federal High Court, Maitama, Abuja, how thedefendant and her subordinates diverted public funds into their private companies. Oyo-Ita, the first defendant is facing criminal prosecution by the Economic and Financial Crimes Commission, EFCC alongside her special assistants, Ugbong Okon Effiok (seventh defendant), Garba Umar (fourth defendant) and six companies: Frontline Ace Global Services Limited, Asanaya Projects Limited, Slopes International Limited, U and U Global Services Ltd, Prince Mega Logistics Ltd…

A Compliance Officer with the Stabic IBTC Bank, Babatunde Adenekan, yesterday, gave vivid details before a Lagos Federal High Court, of how funds belonging to Nigerian Airspace Management Agency, NAMA, were distributed into various bank accounts. Adenekan, a Prosecution witness for the Economic and Financial Crimes Commission (EFCC), narrated the alleged financial fraud while testifying in the trial of the Managing Director of NAMA, Ibrahim Abdulsalam and six others. They are charged by EFCC with stealing and conversion of the agency’s monies amounting to about N6.8 billion before Justice Babs Kuewumi. Other accused are Adegorite Olumuyiwa, Agbolade Segun, Clara Aliche,…

..Umahi, Make Case For Road Dualisation  The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu and the Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA, on Thursday paid a thank you visit to the Honourable Minister of Works, Senator Dave Umahi over the fast pace of work on the 34-Km Ikorodu Itokin Road which is currently being rehabilitated. The road was constructed in 1975 by Messr. Taylor Woodrow, under the regime of General Yakubu Gowon and General Mobolaji Johnson. It will be recalled that in April 2021, Senator Abiru moved a motion on the floor of the Nigerian Senate…

By Adeyemi Obadimu Veron GTCO Food And Drinks, the premier event in the food and beverage industry, is excited to announce the commencement of its 7th edition today. The event is set to showcase the latest trends, innovations, and products in the food and drinks sector. With over 100 exhibitors from around the globe, GTCO Food And Drinks 7th Edition promises to be bigger and better than ever before. Attendees can look forward to tasting new flavors, experiencing cutting-edge technologies, and learning from industry experts through various workshops and seminars. The 7th edition of GTCO Food And Drinks event promises…

In a bid to significantly reduce malaria cases in Nigeria’s Southwest region, Moremi Ojudu, the Senior Special Assistant to the President on Community Engagement (South West), today commissioned a new campaign titled “Change the Narrative Now.” The initiative, spearheaded by the Presidential Community Engagement Office in collaboration with Chestrad Global and the Federal Ministry of Health, aims to raise awareness, educate communities, and promote preventative measures against the mosquito-borne illness. The official launch took place at the Ago-Egun community within Iwaya-Makoko, Yaba LCDA. Moremi emphasized the importance of grassroots engagement in tackling the challenge. “Malaria continues to disproportionately affect our…

Scores of demonstrators on Thursday stormed the national secretariat of the All Progressives Congress in Abuja to demand the resignation of the National Chairman, Dr Abdullahi Ganduje, following his recent suspension by a faction of his ward executives and the alleged bribery allegation levelled against him by the Kano State government. Chanting solidarity songs and displaying several banners that read, “Ganduje must resign” and “Return the APC chairmanship to North Central,” the protesters appealed to President Bola Tinubu and the Secretary to the Government of the Federation, George Akume, to consider returning the leadership of the party to their region.…

A tragic incident occurred at BrickHall Schools in the Cadastral Zone B11, Kaura, Abuja, when a four-year-old pupil, Miguel Ovoke, died during the school’s feeding hours on Wednesday.The boy was pronounced dead upon arrival at Excel Specialist Hospital, following complications during lunch. According to the death certificate issued on April 24, 2024, Miguel was brought into the hospital around 11 am by his teachers in an unconscious state. The medical report from Excel Specialist Hospital detailed that the young boy had aspirated on meat while eating at school. Upon examination, doctors noted that Miguel exhibited severe symptoms, including fixed and…

A fire outbreak has occurred at the E54 Passenger Air Bridge at the domestic wing of the Murtala Muhammed International Airport (MMIA) in Lagos State.The Director of Public Affairs and Consumer Protection of the Federal Airports Authority of Nigeria (FAAN), Obiageli Orah, made this known in a statement on Thursday. Orah stated that the incident happened at 5:29 a.m. on Thursday, and flight operations out of Terminal 1 of the Airport have been diverted to the D Wing of the facility. She, however, said the Airport Rescue and Firefighting Services (ARFFS) brought the fire under control at 06:41 a.m. while…