News

Promoters of Ponzi schemes now risk up to 10 yearsimprisonment following the passage of the Investments andSecurities Amendment Bill 2023 by the Senate.The bill is expected to aid the functioning of the capital marketand facilitate the ongoing economic diversification in thecountry.Among other provisions, the bill prohibits the operation ofPonzi/pyramid schemes and other illegal investment schemeswhile prescribing a...

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The Minister of Transportation, Muazu Sambo has waded intothe dispute between the Maritime Workers Union of Nigeria(MWUN) and shipping companies operating in Nigeria, overthe Collective Bargaining Agreement, and poor remunerationof workers.The Union had issued a 7-day strike notice to shippingcompanies in Nigeria, over alleged anti-labour practices,threatening to cripple the operations of the shippingcompanies at the expiratio...

Argentina has submitted a formal bid to host this year’sUnder-20 World Cup in place of Indonesia which was strippedof its rights to stage the tournament.FIFA president Gianni Infantino, who made this known, notedthat Argentina was the only country to submit a formal offer.The FIFA Bureau will decide whether to accept the proposalin two or three days with the tournament scheduled to start onMay 20.FI...

The United States chapter of the All Progressives Congresshas condemned the proposed political demonstration thatwould be held by some Nigerians in front of the White Houseon Monday.The condemnation is coming a day after authorities in theUnited States granted permission to supporters of LabourParty presidential candidate, Peter Obi, to use its park onApril 3 rd to protest the outcome of the 2023 presidentialelection in Nigeri...

The Minister of Communication, Isa Pantami has inaugurateda Digital Economy Community of Practice.The inauguration was done in conjunction with the PolicyInnovation Centre of the Nigerian Economic Summit Group(NESG) in Abuja.Speaking at the event, the minister said that the digitaleconomy centre has been doing well building andconsolidating Nigeria’s economy.He also used the opportunity to point out...

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The World Food Programme, an organization within theUnited Nations, has stated that thirty-two percent of Nigeriansdo not have enough food to consume.In a March 28 th update of the ‘HungerMapLIVE: WesternAfrica insights and key trends,’ the countries with the highestprevalence of insufficient food consumption are thirteencountries, including Nigeria.In its latest Food Security Update, the World Bank revealed...