Author: Citynews

The Minister of Power, Chief Adebayo Adelabu, appears to have shelved his ambition to contest the Oyo State governorship election next year, having failed to resign his cabinet position by the March 30, 2026, deadline set by President Bola Ahmed Tinubu. Amid the circulation of a purported resignation letter on social media, Adelabu’s media aide, Mr. Bolaji Tunji, dismissed the document as “fake news.” He stated that the minister remains in office and continues to carry out his duties in line with the president’s mandate. Adelabu had held consultations over the past year regarding his intention to contest the Oyo…

The Federal High Court in Ikoyi, Lagos, has frozen assets and funds totalling ₦448,263,172.41 in a debt case involving Keystone Bank Limited and five defendants. CityNews reports that Justice Chukwujekwu Aneke granted the order on March 26, 2026, following a request from the bank through its lawyer, Mofesomo Tayo-Oyetibo, SAN. The court issued a Mareva injunction preventing the defendants and anyone acting on their behalf from withdrawing, transferring, or handling the money, shares, dividends, or other financial instruments up to the disputed amount in any bank or financial institution in Nigeria. Banks were instructed to preserve any funds linked to the…

Bala Mohammed, the Bauchi State Governor and chairman of the PDP Governors’ Forum, has indicated that the African Democratic Congress is his preferred platform as he considers defecting from the Peoples Democratic Party. The governor disclosed this on Tuesday while hosting a delegation of the ADC, led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi. Speaking to journalists after a closed-door meeting, Mohammed attributed his possible defection to persistent crises within the PDP, saying reconciliation efforts had failed. “We have found ourselves in a very serious situation. I have done everything…

Former Vice President Atiku Abubakar has berated the presidency and the National Assembly over the rapid approval of a fresh $6 billion external loan. CityNews reported that the Senate had approved a $6 billion loan request by Tinubu. Reacting to the development in a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku wondered why Tinubu’s loan request was approved in less than four hours He described the process as a dangerous erosion of legislative oversight that threatens the country’s economic stability. “What Nigerians have witnessed is not legislative diligence, but a disturbing erosion of oversight responsibility,” Atiku…

Tottenham Hotspur on Tuesday, appointed Roberto De Zerbi as replacement to Igor Tudor. De Zerbi has been out of work since he left Marseille in February. The Italian joins with the club mired in a Premier League relegation battle just one point ahead of the bottom three in the table. The deal includes a substantial bonus for keeping the club in the Premier League. It is currently unclear if any provision is made for the club’s potential relegation. “I am delighted to be joining this fantastic football club, which is one of the biggest and most prestigious in the world,”…

Senate President Godswill Akpabio on Tuesday declared three senatorial seats vacant following the de.aths of their occupants This sets the stage for by-elections that will test the political temperature in Enugu North, Nasarawa North, and Rivers South-East districts. The announcement, made during plenary, came as the upper legislative chamber grapples with a broader political realignment that has seen a wave of defections reshape the opposition landscape and raised constitutional questions about the fate of other lawmakers who have switched parties. “Due to the tragedies that have befallen the 10th Senate, vacancies have been created for midterm elections by the…

The Special Adviser on Strategic Communications and Media to the Minister of Power, Bolaji Tunji, has dismissed reports claiming that Adebayo Adelabu has resigned from his position. Tunji described the reports as fake, stating that the minister remains focused on delivering on his mandate as Minister of Power. Speaking in a telephone interview with TVC, Tunji said the minister had not submitted any resignation letter and urged those spreading the report to desist from circulating false information. He noted that a purported resignation letter dated March 26, 2026, allegedly written by Adelabu to President Bola Tinubu, has been trending on social…

Guaranty Trust Holding Company has released its audited consolidated and separate financial statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). GTCO, in a statement on Tuesday, declared a N12.76k dividend to shareholders and a N865.75 billion profit after tax from a reported profit before tax of N1.23 trillion. According to the firm, the PBT is underpinned by strong growth in core earnings, with interest income and fee income increasing y-o-y by 23.2 percent and 25.9 percent, respectively. It stated that performance reaffirms its capacity to generate sustainable earnings and…

Minister of Power, Adelabu A. Adebayo, has formally resigned from his position, announcing his intention to run for Governor of Oyo State. CityNews reports that in a resignation letter addressed to President Bola Ahmed Tinubu and submitted through the Secretary to the Government of the Federation, Adebayo expressed gratitude for his time in office. “I write with profound gratitude to Your Excellency to formally tender my resignation from my position as the Honourable Minister of Power, Federal Republic of Nigeria,” he wrote. He also thanked the president for the trust placed in him, saying, “I wish to sincerely thank Your Excellency for the…

The re-election of President Bola Tinubu will not be affected by the release of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB) from prison, Ohanaeze Ndigbo has said. The leadership of the socio-political organisation on Tuesday, assured the president of the total support of Ndigbo despite the fate of Kanu who is being held at the Sokoto Correctional facility over terrorism. Calling for the unconditional release of the IPOB leader by the president, Ohanaeze Ndugbo said Kanu was only advocating for Biafra of the mind and not succession as widely claimed. In a statement signed by Okechukwu…