Author: Vardiafrica

Former Governor of Kogi State Yahaya Bello has honoured the invitation of the Economic and Financial Crimes Commission (EFCC) after months of back-and-forth and an attempt by the agency to arrest him. A statement by the Director, Yahaya Bello Media Office, Ohiare Michael on Wednesday, said Bello has honoured the invitation of the EFCC “after due consultations with his family, legal team and political allies.” The statement said, “The former Governor, who has great respect for the rule of law and constituted authority, had, all the while, only sought the enforcement of his fundamental rights in order to ensure due…

The $550 million upstream gas project between the NNPC Ltd. and TotalEnergies on the development of the Ubeta field has taken off, the Presidency announced on Tuesday. Special Adviser to the President on Energy, Olu Verheijen, disclosed this during an inaugural US-Nigeria Strategic Energy Dialogue, hosted by the U.S. State Department in Washington, DC. According to a statement signed by Chief Corporate Communications Officer NNPC Ltd, Olufemi Soneye in Abuja on Tuesday, the signing ceremony of the 550 million USD Final Investment Decision (FID) on the Ubeta Field Development Project took place in Abuja in June this year. The Ubeta…

The Independent National Electoral Commission (INEC) has refused to recognise Julius Abure as the National Chairman of Labour Party, despite retaining his name on its website, on the list of political party chairmen This new revelation is contained in a counter-affidavit filed in the Federal High Court Abuja, in response to Labour Party’s suit, challenging its exclusion from INEC’s refresher training for uploading party agents, ahead of the Edo and Ondo states governorship elections INEC insisted in the document that Abure’s tenure as the National Chairman of the Labour Party expired in June 2024. The Labour Party has been entangled…

The Federal Government on Tuesday alerted Nigerians to the release of water from the Lagdo Dam in Cameroon In a statement, the Director General/Chief Executive Officer of the Nigeria Hydrological Services Agency, Umar Muhammed, said the dam’s regulated water releases will commence on September 17. According to the statement, the water discharge is anticipated to progressively escalate to 1000m³/s over the next seven days based on the inflow from the upstream Garoua River. “The Nigeria Hydrological Services Agency wishes to notify the general public that the authorities of the Lagdo Dam in Cameroon have communicated to the agency that they…

Meta, the parent company of Instagram, is introducing a new account setting specifically designed for users under the age of 18 in a bid to improve safety on its platform. Beginning Tuesday, teenagers in the US, UK, Canada, and Australia will automatically be placed in a restricted “teen account” with enhanced parental supervision options when signing up for Instagram. Existing accounts held by users under 18 will transition to this new setting over the next 60 days. Meta plans to roll out similar changes to teen accounts in the European Union later this year. This move comes amidst increasing public…

Rivers State Governor, Siminalayi Fubara, has suspended Otonye Briggs, the Chairman, Caretaker Committee of Akuku-Toru Local Government Area. This was announced in a statement on Tuesday by the Chief Press Secretary to the Governor, Nelson Chukwudi. According to the statement, Briggs’ suspension is with immediate effective. Chukwudi did not, however, give a reason for the suspension “The Governor has directed Hon Bitebobo Amiee to immediately take over as chairperson. though specific reasons for the decision were not disclosed. “Mr Briggs is hereby directed to hand over all council property in his possession to the (new) Caretaker Committee Chairperson,” he said.…

Bala Mohammed, governor of Bauchi, says his state has enough water to quench the fire that Nyesom Wike, minister of the federal capital territory (FCT), threatened to put in the states of Peoples Democratic Party (PDP) governors supporting Siminalayi Fubara. Fubara, governor of Rivers, and Wike have been at loggerheads for months now. Speaking at a PDP congress in Rivers recently, the FCT minister warned governors in the party against interfering in the affairs of the opposition party in Rivers state. Wike then said he would “put fire” in the states of the governors siding with Fubara. While hosting some members of PDP’s national working committee…

The Central Bank of Nigeria has maintained its Ways and Means Advances to the federal government at a 5 per cent limit for the fiscal years 2024-2025, despite a bill passed by the National Assembly which raised the maximum borrowing percentage in the Act from five per cent to ten per cent. The Ways and Means Advances are loan facilities used by the CBN to finance the government during periods of temporary budget shortfalls and are subject to limits imposed by law. A report titled ‘Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the Fiscal Years 2024-2025, published by…

The UK government has unveiled up to £1.9 million in funding to bolster science, technology, and innovation in Ghana and Nigeria through its new West Africa Research and Innovation Hub, named Sankore. This initiative aims to enhance collaborative efforts between the UK and West African nations, focusing on the commercialisation of innovative solutions, improvement of innovation policy, and advancement of government digital services. The Sankore call for proposals will support the UK-Ghana Science, Technology, and Innovation (ST&I) Strategy by fostering partnerships between universities, research centres, and the private sector. The goal is to transform new ideas into practical industry applications…

The Central Bank of Nigeria (CBN) says the country’s foreign exchange reserves are at risk due to the petrol subsidy removal and lower crude oil earnings. As of September 12, Nigeria’s external reserves stood at $36.08 billion, according to data from the CBN. In its ‘Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the Fiscal Years 2024-2025,’ published on Tuesday, CBN also said increased external debt servicing obligations could pose downside risks for the growth of external reserves during the period. “Lower crude oil earnings, fuel subsidy removal, rising import bills and increased external debt servicing obligations could pose downside risks for the…