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30 banks meet CBN recapitalisation rules 19 days to deadline
Business

30 banks meet CBN recapitalisation rules 19 days to deadline

As at today, 12th March 2026, 30 banks out of the 35 banks operating in the country have met the recapitalisation requirement of the Central Bank of Nigeria, CBN, according to findings by Vanguard.The remaining five banks have 19 more days to meet the recapitalisation deadline which ends on 31st March 2026. However, two are already in merger arrangements, and with that they met the recapitalisation requirement. The banks are Union Bank and Unity Bank.AdvertisementIt will be recalled that the recapitalisation programme was announced in November 2023 and formalized in CBN directives published on March 28, 2024.The recapitalisation requires each bank category to hold capital proportional to its operational scope.International commercial banks must raise their capital f...
Reaction as Abaribe, Umeh, Kingibe and other lawmakers defect to ADC
News

Reaction as Abaribe, Umeh, Kingibe and other lawmakers defect to ADC

At least nine Senators from different political parties on Thursday, defected to the African Democratic Congress, ADC.They are the lawmaker representing Sokoto South, Aminu Tambuwal; his Abia South counterpart, Enyinnaya Abaribe; Binos Yaroe (Adamawa South); Victor Umeh (Anambra Central); Tony Nwoye (Anambra North); Lawal Usman (Kaduna Central); Ogoshi Onawo (Nasarawa South); Austin Akobundu (Abia Central); and Ireti Kingibe (Federal Capital Territory).Their letters of defection were read on the floor of the Senate during Thursday’s plenary by the Senate President, Godswill Akpabio.In his letter, Nwoye attributed his decision to internal crises within the Labour Party.“I wish to tender my resignation amid the ongoing multiple litigations within the Labour Party, which have ...
‘I lost my father, wife’, Iran’s new supreme leader vows revenge
News

‘I lost my father, wife’, Iran’s new supreme leader vows revenge

Mojtaba KhameneiIran’s new supreme leader, Mojtaba Khamenei, has delivered his first public statement, calling for unity among the Iranian people while acknowledging the hardships endured during recent conflict.The address, read on state television, expressed condolences to families who lost loved ones and pledged that damages would be compensated. “We have to protect this unity and this is only possible when we are together and we find common ground,” the statement said.Khamenei linked the nation’s suffering to his own personal losses, noting that his father, the former supreme leader, and members of his family were killed in recent strikes. “I lost my father, I lost my wife. My sister lost her child as well as her husband,” he said, adding that faith and patience were ess...
BREAKING: Ekiti Guber Poll: Appeal Court affirms Oluyede as PDP candidate
News

BREAKING: Ekiti Guber Poll: Appeal Court affirms Oluyede as PDP candidate

The Court of Appeal sitting in Akure has affirmed Dr. Wole Oluyede as the duly nominated governorship candidate of the Peoples Democratic Party (PDP) for the 2026 Ekiti State governorship election.In a unanimous judgment delivered on Thursday, the three-member appellate panel set aside the earlier ruling of the Federal High Court in Ado-Ekiti which had nullified the party’s primary election.The panel, led by Justice Peter Chudi Obiorah and comprising Justices Jane Esienanwan Inyang and Peter O. Affen, held that the PDP primary election that produced Oluyede was valid and conducted in compliance with the party’s constitution and the provisions of the Electoral Act.The court specifically affirmed that the primary election organised by the National Working Committee, NWC, led by K...
UPATE : OPay opens up on reports of Lagos, Abuja office closure
Business

UPATE : OPay opens up on reports of Lagos, Abuja office closure

The company described the claims circulating on social media and online platforms as false and misleading, insisting that its offices remain open and fully operational.Financial technology company OPay Digital Services Limited has dismissed reports claiming its offices in Lagos and Abuja were sealed by the Nigeria Revenue Service over alleged tax non-compliance.The company described the claims circulating on social media and online platforms as false and misleading, insisting that its offices remain open and fully operational.The reports had alleged that the Nigeria Revenue Service sealed OPay’s offices for failing to comply with Value Added Tax (VAT) and Company Income Tax obligations under the Nigeria Tax Act 2025.However, in a statement issued on ...
Fuel Prices Drop as NNPC Cuts Petrol Pump Price Nationwide
Business

Fuel Prices Drop as NNPC Cuts Petrol Pump Price Nationwide

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol at its retail outlets to ₦1,130 per litre in Lagos and ₦1,165 per litre in Abuja.The new prices, which took effect on Wednesday, mark a drop of ₦100 from the previous ₦1,230 per litre in Lagos and ₦95 from ₦1,260 per litre in Abuja.Checks revealed that the revised rates were already displayed at several NNPC filling stations across Lagos, including outlets along Isheri Oshun Road, Apple Junction, and Ago Palace Way.Motorists in Abuja also confirmed seeing the new price of ₦1,165 per litre at NNPC stations in areas such as Jabi and Wuse.The price adjustment provides modest relief for consumers who have experienced several petrol price hikes in recent months.The reduction comes ev...
Senegal passes law doubling penalty for same-s3x relations to 10 years in prison
Life Style

Senegal passes law doubling penalty for same-s3x relations to 10 years in prison

Senegal's National Assembly late on Wednesday overwhelmingly passed a ‌bill doubling the maximum prison term for same-s3x s3xual acts to 10 years and criminalising any efforts to promote homos3xuality.The law - passed by 135 votes to zero, with three abstentions - fulfils a campaign promise of the government that ​came to power in 2024, led by President Bassirou Diomaye Faye and Prime Minister ​Ousmane Sonko. It now awaits Faye's signature.Senegal's penal code already carried an article, last ⁠amended in 1966, imposing up to five years' jail and fines of up to 1,500,000 CFA ​francs ($2,700) for "acts against nature".The new version doubles the maximum term and allows for fines of up to 10 million ​CFA francs.It says a judge may not grant a suspended sentence, or use their d...
‘Every Lagos resident must file annual tax returns before March 31’ LIRS says
Business

‘Every Lagos resident must file annual tax returns before March 31’ LIRS says

The Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Abideen Akande, has disclosed why filing an annual tax return is compulsory for every Lagos resident. He also revealed penalties for defaulters and the intent of the tax reform. In an interview with Helen Oji for Guardian Nigeria, Akande said: "Filing of returns allows the tax authority to know how much you have earned in the preceding year and how much tax, if any, you have already paid in advance. Nigeria operates a self-assessment tax system. This means that you voluntarily declare your income for a defined period."He continued: "Filing of returns by individuals involves disclosing the income you earned in the previous year because that year has already ended. "The inter...
Iran drone revenge threat to California is under investigation President Trump says
News

Iran drone revenge threat to California is under investigation President Trump says

NATIONAL HARBOR, MARYLAND - FEBRUARY 24: Republican presidential candidate and former U.S. President Donald Trump speaks at the Conservative Political Action Conference (CPAC) at the Gaylord National Resort Hotel And Convention Center on February 24, 2024 in National Harbor, Maryland. Attendees descended upon the hotel outside of Washington DC to participate in the four-day annual conference and hear from conservative speakers from around the world who range from journalists, U.S. lawmakers, international leaders and businessmen. (Photo by Anna Moneymaker/Getty Images)President Donald Trump has addressed reports of potential Iranian sleeper cells in the United States and an alleged revenge plot involving a possible drone attack targeting California.Fears of possible cells came aft...
IGP Asks Court To Strike Out El-Rufai’s ₦1 Billion Fundamental Rights Suit
News

IGP Asks Court To Strike Out El-Rufai’s ₦1 Billion Fundamental Rights Suit

The Kayode Egbetokun, Inspector-General of Police, has urged the Federal High Court of Nigeria in Abuja to dismiss the fundamental rights enforcement suit filed by former Kaduna State governor, Nasir El-Rufai.El-Rufai is seeking ₦1 billion in damages against the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the FCT Magistrate Court, the Inspector-General of Police, and the Federal Ministry of Justice (Nigeria), represented by the Attorney-General of the Federation.The former governor filed the case to challenge a search carried out by security operatives at his residence in the Asokoro area of Abuja.El-Rufai argued that the operation violated his fundamental rights and is demanding compensation from the respondents. Reports indicate that some items...
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