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Otedola Slams Obaigbena’s Alleged Media Blackmail as GHL Counters First Bank’s $225M Debt Claim

In a fiery rebuttal, Femi Otedola, CON, Chairman of First Bank Holdings, has accused Nduka Obaigbena, Chairman of THISDAY/ARISE Media Group, of orchestrating a smear campaign through the media to deflect attention from his alleged financial improprieties. Otedola’s statement comes amid escalating tensions surrounding First Bank’s efforts to recover funds purportedly misappropriated in deals tied […]

US Returns $52.88m Linked to Diezani to Nigeria for Anti-Corruption Projects

The Federal Government of Nigeria has received $52.88 million in recovered assets linked to the former Minister of Petroleum Resources, Diezani Alison-Madueke, from the United States. The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced this during the official signing ceremony of the asset recovery agreement between Nigeria and the United States […]

Court Freezes Obaigbena’s Accounts as First Bank Moves to Recover N1.2 Trillion Debt

A Federal High Court in Ikoyi, Lagos, has issued an order restraining commercial banks in Nigeria from accessing or dealing with funds and assets totalling $225.8 million allegedly belonging to Nduka Obaigbena, Chairman and Editor-in-Chief of THISDAY Media Group and Arise News Channel. The order follows a lawsuit filed by First Bank of Nigeria Limited […]

National Assembly Criticises Tinubu Administration Over 2024 Budget Failures

The National Assembly has expressed dissatisfaction with the Tinubu administration’s implementation of the 2024 national budget. Lawmakers criticised the disparity between recurrent and capital expenditure, highlighting the low release of funds for capital projects. Senator Solomon Adeola and Hon. Abubakar Birchi, chairmen of the Senate and House Committees on Appropriation, made their concerns known during […]

FirstBank Shareholders Push for EGM to Remove Otedola, Omodayo-Owotuga

A group of shareholders holding 10% of First Bank of Nigeria Holdings Plc has formally requested an Extraordinary General Meeting (EGM) under Section 215(1) of CAMA. The meeting, expected to take place within 21 days, seeks to address the removal of FBN Holdings Chairman, Mr. Femi Otedola, and Deputy Chief Executive of Geregu Power Plc, […]

Emefiele to Face Trial as Lagos Court Rules on Jurisdiction

The Lagos State Special Offences Court in Ikeja has assumed jurisdiction to hear charges of gratification, corrupt demands, and fraudulent receipt of property levelled against the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. In his ruling on Wednesday, Justice Rahman Oshodi stated that the prosecution, the Economic and Financial Crimes Commission […]

Nigerians to Pay More for Phone Calls as FG Approves Tariff Hike

Nigerians will soon have to pay more for phone calls and other telecommunication services as the Federal Government has announced plans to adjust telecom tariffs in response to requests by operatoprs. The confirmation of tariff hikes, however, came with a reassurance to Nigerians that the increase will not reach the 100% hike requested by operators. […]

Tinubu and African Leaders Witness Mahama’s Return to Power

President Bola Ahmed Tinubu yesterday led a high-profile Nigerian delegation, including former Presidents Olusegun Obasanjo and Goodluck Jonathan, to the inauguration of Ghana’s new President, John Mahama, in Accra. Other attendees included Lagos State Governor Babajide Sanwo-Olu, Adamawa State Governor Ahmadu Fintiri, several other state governors, Minister of State for Foreign Affairs Bianca Odumegwu-Ojukwu, and […]

Nigeria Police Force Tackles Cybercrime, Dismantles Thousands of Malicious Networks

The Nigeria Police Force (NPF) has announced the dismantling of 5,049 malicious domains, networks, and cybercrime syndicates operating within and beyond Nigeria in 2024. Addressing a press conference, NPF spokesperson Olumuyiwa Adejobi highlighted the achievements of the National Cybercrime Centre (NPF-NCCC). Over the year, the centre recovered over ₦8 billion and $84,000, which were restituted […]

Meta Overhauls Content Moderation, Drops US Fact-Checkers

Social media giant Meta has announced a significant shift in its content moderation strategy, including the termination of its third-party fact-checking programme in the United States. “We’re going to get rid of fact-checkers and replace them with community notes similar to X (formerly Twitter), starting in the US,” Meta Founder and CEO Mark Zuckerberg stated […]

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