Author: Festus Adeloye

The Asset Management Corporation of Nigeria (AMCON) has reported a decline of N437 billion in its total assets for the 2023 financial period. According to the financial performance report released by the corporation, total assets dropped by 28.8 percent, from N1.513 trillion in 2022 to N1.076 trillion in 2023. This decrease in total assets comes at a time when AMCON has been under considerable pressure to recover the toxic loans inherited from liquidated banks and indebted companies. The Nigerian banking sector faced a severe financial crisis in 2008 and 2009, partly triggered by the global financial crisis, leading to the…

Leader of the Indigenous People of Biafra, IPOB, Mazi Nnamdi Kanu, has appealed the June 19 ruling of the Federal High Court sitting in Abuja and presided over by Justice Binta Nyako, against his objection to the jurisdiction of the Federal High Court to subject him to trial. Kanu through his Special Counsel, Chief Aloy Ejimakor, filed the notice of appeal on Tuesday at the Court of Appeal in Abuja. This was disclosed by Ejimakor in a statement. The statement made available to Vanguard Tuesday night read:”Earlier today (Tuesday), I filed a Notice of Appeal with the Court of Appeal…

The Rivers State Police Command has declared a former Niger Delta militant leader, Gabriel ‘General’ Asabuja, wanted following his alleged provocative statements in a viral video amidst the ongoing crisis in the state. The Commissioner of Police in the State, CP Olatunji Disu, disclosed this on Tuesday night when he appeared on Channel Television’s ‘Politics Today’, which was monitored by our Correspondent in Port Harcourt. Disu, who condemned Asabuja’s actions, emphasised the panic and concern generated by his threats in the state and beyond. He assured the public that law enforcement agencies have initiated actions to apprehend the former militant…

A group of opposition lawmakers in the House of Representatives known as the G60 on Tuesday called on President Bola Tinubu to direct the Inspector General of Police and DSS to find out who financed the use of explosives at a protest and whether other explosives have been planted in different corners in Rivers state. The lawmakers warned that the use of dynamite explosives by protesters in Rivers State will end democracy if not stopped now. Despite calls by the Police on groups to suspend their planned protest over the controversial Local Government tenure elongation crisis in the state, some…

Singer Davido has endorsed his uncle, Ademola Adeleke, the governor of Osun State, as the future president of Nigeria. This declaration was made as Davido prepared to tie the knot with his longtime girlfriend, Chioma. In a video capturing the moment, Davido exclaimed: “Future president!” while greeting Governor Adeleke. Governor Adeleke is currently serving his first term in office.

President Bola Tinubu is currently presiding over the Federal Executive Council (FEC) meeting, at the Council Chamber, Presidential Villa, Abuja. The last council meeting which was held about six weeks ago, dealt with a huge number of memoranda and the meeting was held for two conservative days; Monday 13 and Tuesday 14 of May, discussing various critical issues of state. At the conclusion of the two-day meeting in May, over 20 memoranda were considered and approved, including a new initiative by the Nigerian government aimed at driving economic growth through investment in housing and infrastructure projects. The meeting is being…

The House of Representatives has announced the death of a Senior Officer of the Nigeria Customs Service during an engagement with a House Committee at the National Assembly. Confirming the incident in a statement, House Spokesman Akin Rotimi says the Customs officer suddenly developed health complications during the House Committee engagement at about 1pm. He said despite the immediate and diligent efforts of first responders and medical personnel at the National Assembly Clinic, the Customs officer unfortunately passed away. Out of respect for the family, the House spokesman says the officer’s name will not be disclosed at this time. He…

The Federal Government has said it will not allow the fate which befell its Medium Security Custodial Centre in Suleja on April 24 to befall any of its 256 Custodial Centres across the country, saying it is rehabilitating the centres accordingly. On April 24, rainfall destroyed the walls of the Suleja Custodial Centre and led to the escape of 118 inmates, some of who are still at large. At the time, the Federal government was already reconstructing parts of the wall, but the heavy rains pulled down a section that had not yet been rehabilitated. Speaking on Monday night after…

Atiku Abubakar, former vice-president, says traditional institutions should be insulated from the “arbitrary” influence of powerful state governors. Abubakar’s comments come amid attempts by some state governments to alter the age-long structure of traditional institutions in their domains. In Kano, a protracted emirship tussle has seen Aminu Bayero refusing to relinquish his position as monarch, after the state government repealed a 2019 law and ousted him. The government subsequently reinstated Muhammadu Sanusi, who was dethroned in 2020, as emir. On Monday, the Muslim Rights Concern (MURIC) alleged that the Sokoto state government is plotting to dethrone Muhammad Abubakar as the…

Filmmaker Funke Akindele has shared her inspiring story of perseverance and self-taught skills in the film industry. In an interview with Arise News, she revealed her early struggles in landing roles in English-language films, which led her to explore opportunities in Yoruba-language films. According to her, Ayo Adesanya, introduced her to a producer and she began working in Osogbo, where she met industry ‘gurus’ like Fathia Balogun and Iyabo Ojo. “When I didn’t get roles in English I got frustrated. So I was on a project with Ayo Adesanya, and I told her that I don’t have roles and she…