MTN Nigeria reported a loss of N400.44 billion after tax for the year ending December 31, 2024, primarily due to the devaluation of the naira, which increased foreign exchange losses and negatively impacted the company's earnings. This loss, revealed in the company's audited financial statements on Thursday, marks a 192% increase from the N137.02 billion loss recorded in 2023. The...
On Thursday, March 13, Peter Obi shared his thoughts with journalists following a meeting with Bauchi State Governor, Bala Mohammed. Obi took the opportunity to discuss the ongoing economic challenges under President Bola Tinubu's administration, offering a sharp critique of the current situation in comparison to the previous leadership of Muhammadu Buhari. Obi pointed out that Tinubu had...
The naira was strengthened to 1,494.03/$ at the official window on Thursday, according to data from FMDQ Securities Exchange Limited. Similarly, an appreciation to 1,510.00/$ was recorded in the parallel market, reducing the spread between the two markets to 15.5/$. The gap between the official and parallel foreign exchange rates has been narrowing due to various policies implemented by the...
The plot that led to the assassination of Nigeria’s former Head of State, Major General Murtala Muhammed, on February 13, 1976, can be traced back to the day he assumed office in 1975. According to former Military President General Ibrahim Badamasi Babangida (IBB), Muhammed’s refusal to accept a power-sharing arrangement sparked discontent among younger officers, ultimately leading...
The Labour Party (LP) in Osun State has withdrawn from Saturday’s local government election. This was announced by LP Chairman, Mr. Adebayo Bello, on Friday in Osogbo. Bello cited inadequate security arrangements by the State Independent Electoral Commission (OSSIEC) as the reason for the withdrawal. He called for the election to be postponed for one or two months to allow OSSIEC to make...
