Author: Vardiafrica

The African Development Bank (AfDB) says it has approved $100 million for the establishment of the Nigerian Youth Entrepreneurship Investment Bank. Dr Akinwumi Adesina, President and Chairman, Board of Directors, AfDB, said this in Abuja on Friday, when he delivered the 14th Convocation Lecture of the National Open University of Nigeria (NOUN). The News Agency of Nigeria (NAN) reports that the theme of the lecture is: “Advancing Africa’s Positioning within Global Development and Geographical Dynamics.” Adesina said the move was to liberate the Nigerian youth financially and provide technical assistance, business development services, equity, quasi-equity and debt financing for businesses…

The Central Bank of Nigeria (CBN) has announced that the nation recorded a $6.83 billion balance of payments surplus in 2024, indicating significant economic growth and a turnaround from previous years of deficits.  The apex bank revealed this at the 36th Enugu International Trade Fair on Saturday, April 12, highlighting the positive trajectory of Nigeria’s economy in the global transaction landscape.  According to the bank, the figure marks a decisive rebound from deficits of $3.34 billion in 2023 and $3.32 billion in 2022, respectively. Speaking at the CBN Special Day at the fair, the Acting Director of Corporate Communications, Mrs.…

Governor Babagana Umara Zulum of Borno State has responded to reports that Minister of Information, Mohammed Idris, allegedly dismissed his recent alarm over renewed Boko Haram attacks in the state, calling the minister “naive” about the reality on the ground. Zulum had earlier raised concerns during a security meeting in Maiduguri, saying: “There is a resurgence of Boko Haram activities in Borno State, and there is a need for the Borno State government, the military, as well as paramilitary, to work together in order to avert the looming situation.” His comments drew attention after a publication claimed that the Minister dismissed…

On Friday, Former Vice President Atiku Abubakar, alongside Nasir El-Rufa’i, former Governor of Kaduna State, and Aminu Tambuwal, former Governor of Sokoto State and current Senator, paid a visit to former President Muhammadu Buhari at his residence in Kaduna. Also accompanying the delegation were Achike Udenwa, former Governor of Imo State, Gabriel Suswam, former Governor of Benue State, Jubirila Bindow, former Governor of Adamawa State, and Isa Pantami, former Minister of Communications. Despite their political affiliations with El-Rufa’i now a member of the Social Democratic Party (SDP) and Atiku, Tambuwal, Udenwa, Suswam, Bindow, and Pantami being members of the Peoples Democratic Party (PDP) the group gathered together for the visit. The group also observed Friday…

A crowd of women on Friday flooded the Aba road area of Port Harcourt, demanding the reinstatement of the suspended Governor of Rivers State, Siminalayi Fubara, and his deputy, Ngozi Odu. The protest, which began along the major road, and advanced to the Rivers State Government House, featured placards with bold inscriptions such as “Bring back Fubara”, “Save our democracy”, “Is the law different for Rivers State?”, and “God of justice, arise for Rivers State.” Chanting songs of solidarity, the women, who described themselves as mothers and wives, appealed directly to President Bola Tinubu to lift the suspension on Governor…

Liverpool FC can announce Mohamed Salah has signed a new contract that will keep him with the club beyond the 2024-25 season. The forward, who is enjoying another stellar campaign for the Reds, has committed his future by putting pen to paper on the deal. So far this term, Salah has scored 32 goals in just 45 appearances in all competitions – 27 of which have come in the Premier League, making him the division’s leading marksman. These strikes have been supplemented by 22 assists for his teammates. And today’s news means Salah will extend an eight-year stay at Anfield…

The Nigerian Bar Association (NBA) has moved its 2025 Annual General Conference (AGC) from Port Harcourt in Rivers to Enugu. The association premised its decision on “constitutional violations” in Rivers following the emergency rule in the oil-rich state. The move comes weeks after President Bola Tinubu declared a state of emergency in Rivers, citing a protracted political crisis and the vandalisation of oil facilities. The president suspended Siminalayi Fubara, governor of the state; Ngozi Odu, his deputy; and all house of assembly members for six months. Tinubu also appointed Ibok-Ete Ibas, a retired vice-admiral, as the sole administrator for Rivers. The senate…

Senate President Godswill Akpabio has formally petitioned the Inspector General of Police, Kayode Egbetokun, over what he described as a “criminally defamatory and inciting” allegation made by Senator Natasha Akpoti-Uduaghan, who accused him of plotting her assassination. In the petition dated April 3 and copied to the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), Akpabio described the claims as “heinous lies” intended to damage his reputation, incite public unrest, and endanger his life. The controversy stems from a public speech by Akpoti-Uduaghan on April 1 in Kogi State, where she alleged that Akpabio had directed…

Multilateral Bank African Export-Import Bank (Afreximbank) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa. During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H.E. Bola Ahmed Tinubu, President of The Federal Republic of Nigeria, highlighted the AATC’s strategic importance, its pivotal role in shaping Africa’s economic future and the significant impact it is poised to make on Africa’s trade and investment landscape. Speaking at the Ceremony, Dr. Akume stated, “Afreximbank African Trade Centre (AATC) is a…

The Nigeria Liquefied Natural Gas (NLNG), in partnership with Bank of Industry (BOI), has unveiled a N1 Billion expanded Micro, Small, and Medium Enterprises (MSME) Scheme to provide financial support and capacity-building for local vendors and businesses within its host communities and Gas Transmission System (GTS) areas. The initiative it was learnt was designed to alleviate poverty, stimulate economic growth, and enhance sustainability by offering accessible loans at competitive interest rates. Under the partnership model, NLNG provides a seed fund, which BOI matches, creating a robust funding pool to support small-scale enterprises. The loans will target community entrepreneurs and vendors…