Author: Festus Adeloye

President Joe Biden is expected to announce an executive order as early as Tuesday that would effectively shut down the US-Mexico border to asylum-seekers crossing illegally when a daily threshold of crossings is exceeded – a sweeping and controversial proposal that is likely to receive fierce pushback from progressives and immigration advocates. The executive action, described to CNN by multiple people briefed on the order, would mark a significant attempt by Biden to address head on one of his biggest political vulnerabilities, just weeks before the first presidential debate with former President Donald Trump. Trump has made hard-line immigration policies…

Nigeria (CBN) yesterday cited failure of the board of directors of Heritage Bank to improve its financial performance as the reason for the revocation of the bank’s operating licence. Meanwhile, the Nigeria Deposit Insurance Corporation, NDIC, said it has commenced liquidation of the bank, adding it will pay the insured amount of N5 million per depositor. Announcing the decision of the apex bank to revoke the bank’s licence, Acting Director, Corporate Communications, CBN, Hakama Sidi Ali, in statement, said: “The Central Bank of Nigeria (CBN), in accordance with its mandate to promote a sound financial system in Nigeria and in…

Juventus star Jennifer Onyi Echegini has been rewarded for outstanding performances in Italy during the just-concluded season. Jennifer Echegini has cemented herself as Europe’s most exciting talent, and this award is surely just the first of many. The 23-year-old attacking midfielder, who only joined the Turin club in January, surpassed expectations, finishing the season with 10 goals and 1 assist in 16 appearances; the kind of numbers Asisat Oshoala would be proud of. The Super Falcons star has been impactful since arriving from the United States, highlighted by a stunning hat-trick against Fiorentina in March, showcasing her prolific nature in…

In a scathing critique of President Bola Ahmed Tinubu’s first year in office, Nwafor Chigbo, convener of the Good Friends Network for Peter Obi, has described the removal of fuel subsidy as a ‘costly blunder’ that has worsened the lives of Nigerians. Speaking in an interview with newsmen in Abuja, Chigbo argued that the subsidy removal, which was announced by the President in his inaugural speech, has led to unprecedented hardship, inflation, and suffering among Nigerians. He noted that the subsidy removal has resulted in over 100% increase in the cost of goods and services, with the prices of food,…

Payment to depositors with liquidated Heritage Bank having N5 million and below will begin on Monday, the Nigeria Deposit Insurance Corporation (NDIC) said yesterday. Depositors with more than N5 million will wait for their balance until assets of the liquidated bank are disposed off and money generated, before they are paid. The Central Bank of  Nigeria (CBN) yesterday revoked the operating licence of Heritage Bank. According to the apex bank, Heritage failed in its obligations. A statement by CBN spokesperson Hakama Sidi-Ali said: “The bank’s Board and Management failed to improve its financial performance, posing a risk to the financial…

The federal government has appealed to the Organised Labour to stealth their sword and return to the negotiating table. The minister of information and national orientation, Mohammed Idris, made the passionate appeal on Monday, June 3, in Abuja. Idris reminded the Labour Union that the minimum wage negotiation is not only for public workers alone as it also affects the private sector. He therefore appealed to the Labour Union to return to the negotiating table to fashion out a realistic and sustainable wage. The minister said that the government is equally bothered about the shutdown of critical infrastructure by the…

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank, assuring it will pay depositors of the failed bank N5 million insured deposits. Director of Communication & Public Affairs, Bashir  Nuhu, disclosed this in a statement. He said: “Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024 and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020, the Corporation wishes to announce to depositors of the bank in particular and the banking public in…

Nigerian singer, Patrick Okorie, popularly known as Patoranking has graduated from Harvard Business School. Patoranking shared the news on Instagram on Sunday, posting a photo in front of the institution. Accompanied by Professor Anita Elberse, Patoranking proudly held up his certificate in a second slide. Patoranking captioned the post, “Welcome the new #harvardhbs Alumnus God runs this Show…Thank You #anitaelberse”

The Sultan of Sokoto and President General of the Nigeria Supreme Council for Islamic Affairs (NSCIA), Alhaji Muhammad Sa’ad Abubakar, has urged the organised labour in Nigeria to shelve its strike action, which commenced on Monday across the country, saying that they should not be tired of negotiating with the government in the interest of the country. Sultan Sa’ad Abubakar made the call in a statement by his media team, a copy of which was made available to newsmen, saying that the Labour leaders should consider the overbearing effects of the strike action they planned to embark upon in the…

The Parliamentary Staff Union of Nigeria (PASAN) on Monday shut down the National Assembly in compliance with the indefinite strike action declared by Organised Labour to press home demand for living wage for Nigerian workers. The two gates of the Assembly complex were shut by the union with workers and other visitors unable to gain access. The Nation gathered that electricity and water supply to the two buildings housing the Senate and the House of Representatives as well as other facilities in the complex have been shut down by the union. Committee activities scheduled for Monday such as revenue monitoring…