Author: Festus Adeloye

The National Pension Commission has lifted the suspension it placed on Pension Fund Administrators regarding investments in commercial papers. According to a circular issued by PENCOM on Tuesday, the suspension was lifted following draft rules on the activities by the Securities and Exchange Commission. The Head, Investment Supervision Department, PENCOM, Abdulqadir Dahiru, who signed the circular, said, “The commission has noted that the Securities and Exchange Commission has developed draft rules and an amendment to rule 8 (Exemptions) to regulate the issuance of Commercial Papers by its regulated entities. “Accordingly, the SEC is addressing the commission’s concern about the role…

The House of Representatives has resolved to establish an ad-hoc committee to investigate the circumstances surrounding the mass retirement of 1,000 staff members from the Central Bank of Nigeria (CBN). The committee will also probe the N50 billion earmarked for the settlement of the disengaged employees. This resolution followed the adoption of a motion of urgent public importance by Mr. Kama Nkemkama, the representative for Ohaozara/Oncha/Ivo Federal Constituency in Ebonyi State. In his motion, Nkemkama stated, “The House is concerned about the sudden mass retirement of over 1,000 staff, including directors and senior management.” He further added that the situation…

Former member of the House of Representatives, Hon. Dr. Joseph Haruna Kigbu, was abducted yesterday evening by suspected bandits while traveling to Jos. The attack, which occurred around 6:00 p.m., took place between Nunku in Akwanga Local Government Area, Nasarawa State, and Gwantu in Sanga Local Government Area, Kaduna State. In a gun battle, the assailants fatally shot the police escort assigned to Dr. Kigbu, who attempted to resist the abduction. Eyewitnesses reported that the bandits fired sporadically, causing panic among motorists in the area. Local villagers confirmed the incident, adding that the location has been a hotspot for criminal…

Georgia’s health ministry said on Tuesday that 26 people, mostly protesters, were injured in the latest night of anti-government protest in the Caucasus country. Georgia has been locked in a political crisis since its contested October election, with tens of thousands of pro-EU protesters taking to the streets in recent days against the governing Georgian Dream party. Monday saw the fifth day of consecutive mass protests in Tbilisi following Prime Minister Irakli Kobakhidze’s announcement last week that the government would shelve talks on EU accession until 2028. The ministry said “26 individuals, including 23 protesters and three representatives of the…

Newly-appointed manager Ruud van Nistelrooy is aiming to bring a sense of positivity to Leicester City and quickly make an impression on the Premier League club’s players, as he looks to ensure that they remain in the English top flight. The former Manchester United striker was appointed on Friday to replace Steve Cooper and will need to hit the ground running, with the 16th -placed club hovering just point above the relegation zone after three straight league defeats. Asked if the players needed to be picked up, Van Nistelrooy told reporters: “That is what needed to be done. Sunday was…

US President Joe Biden is in Angola on Tuesday for the first and only visit to sub-Saharan Africa of his presidency, which is focused on a major infrastructure project that is a counterpoint to China’s investments. Biden arrived in the oil-rich Portuguese-speaking country late Monday for a two-day visit centred on a multinational project to rehabilitate a railway line ferrying minerals from inland countries to the Angolan port of Lobito for export. In anticipation of his trip, the Angolan government declared December 3 and 4 public holidays and deployed heavy security across the capital Luanda, a city of around 9.5…

The Economic and Financial Crimes Commission (EFCC) yesterday got a court order to seize an estate containing 753 units of duplexes in Abuja. It is the commission’s single-largest asset recovery. But the identity of the estate promoter remained unknown last night. It was learnt that a final security clearance would be required to disclose the estate owner, who is described as a “former top government official”. The application was filed by the EFCC without disclosing the identity of the top brass. A source said: “Even in the affidavit sworn to in the court, the identity of the owner was not…

The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), has asked the Office of the Prosecutor at the International Criminal Court in The Hague, Netherlands, to stop the prolonged investigation of the Nigerian military. The AGF stated the country’s position on Monday in a statement made available to the media in Abuja by the Special Adviser to the President on Communication and Publicity, Office of the AGF and Minister of Justice, Kamarudeen Ogundele. According to the statement, the AGF, in his remarks at the 23rd session of the Assembly of States Parties to the Rome…

The Anambra State Executive Council (ANSEC), led by Governor Chukwuma Soludo, has approved tax exemptions for indigent residents whose business capital is less than ₦100,000.  During its 35th meeting, the council paid tribute to the late Senator Ifeanyi Ubah of the APC, who was recently buried in his hometown, Umuanukam, Otolo Nnewi. Ubah, who represented Anambra South senatorial zone, was a gubernatorial hopeful for the 2025 election. Commissioner for Information, Law Mefor, disclosed that ANSEC encouraged private investors to manage public enterprises in the state and reaffirmed the enforcement of the Anti-Touting Law, urging touts to join government empowerment schemes.…

Former Nigerian Head of State, General Yakubu Gowon on Wednesday dwelt on the historical considerations that led to his support for state creation in Nigeria, saying that it was to ease the fear of the northern region’s dominance given its size and population. In a speech delivered during a courtesy visit by the League of Northern Democrats (LND) in Abuja, he reflected on his leadership era and discussed the group’s vision for northern Nigeria. Gowon, who governed Nigeria during a tumultuous period that included the Civil War, emphasised that the decision to advocate for state creation was rooted in the…