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Zenith Bank Plc, in a significant move to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirement of N500 billion, is offering its ongoing hybrid rights and public offers at the bank’s lowest price range, locking in about 32 percent gain in potential immediate return for existing shareholders and new investors. This Hybrid Rights Issue and Public Offer, aimed at raising approximately N290 billion, will not only enable the bank to meet the CBN’s requirement but also provide additional working capital to support its expanding operations and investments in information technology infrastructure.Currently, Zenith Bank’s issued and fully paid…

Governor Aiyedatiwa has commenced the implementation of the N70,000 Minimum Wage payment to workers. NewsOnline Nigeria reports that the Ondo State government has expressed its readiness to implement the new national minimum wage, which President Bola Tinubu approved for workers in the state. The state’s Head of Service, Mr Bayo Philip, disclosed this while fielding questions from journalists in his office in Akure, the state capital.  According to him, Gov. Lucky Aiyedatiwa of the state had repeatedly assured at several forums that his government would not do anything less than what the federal government has approved as the national minimum for workers. Reiterating the…

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) are joining forces to ignite innovation in Nigeria’s agricultural sector through an Agritech Hackathon and Venture Building programme. The initiative, delivered by Heave Ventures, invites startups, entrepreneurs, and innovators to develop solutions for challenges like credit access, infrastructure, and food security. The programme includes a 48-hour hackathon, a 4-week venture-building residency, and a stakeholder conference. Winners will receive up to ₦23 million in prizes and further exposure to growth opportunities. Applications for the programme are now open at on.fcmb.com/AgricTech-Hackathon and will run from August 5 to September 5.…

CBN has sold $876.26 million at N1,495/$1 to 26 banks in the latest Retail Dutch Auction. NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has sold $876.26 million at N1,495/$1 to 26 qualified banks in its latest Retail Dutch Auction. This is according to a statement signed by Dr Omolara Omotunde Duke, Director, Financial Markets Department. In the statement, it was disclosed the auction was done to reduce the demand pressure in the foreign exchange (FX) market and promote price discovery.The statement read: “The Central Bank of Nigeria (CBN) undertook the sale of foreign exchange (Fx) to end users through a Retail…

President Tinubu has been asked to sack Bayo Onanuga over anti-Igbo comments in Lagos. NewsOnline Nigeria reports that one of the lawyers for the Indigenous People of Biafra (IPOB) leader, Nnamdi Kanu, Ifeanyi Ejiofor, has asked President Bola Tinubu to sack Bayo Onanuga from his cabinet if he cares about the safety of Ndigbo in Lagos. Ifeanyi Ejiofor said the Special Adviser on Information and Strategy, Bayo Onanuga remained the chief promoter and originator of ethnic threat against Ndigbo in Lagos.Ejiofor said this on Wednesday while reacting to the President’s broadcast on Sunday.  The President, in his nationwide broadcast, warned that threats against…

Jonathan has asked Senate President Akpabio to resign immediately and apologise to Nigerians. NewsOnline Nigeria reports that Former Commissioner for Information Culture and Tourism and Chieftain of the All Progressives Congress, APC, in Niger State, Jonathan Vatsa has called on Senate President, Godswill Akpabio to immediately resign his position. This Nigeria news platform understands that Vatsa also urged the leader of the parliament to tender an apology to the protesting youth over his comments concerning the ongoing nationwide protests against hunger and hardship.  In a statement titled “Time for Akpabio to go is now” Jonathan described Akpabio’s utterance as very callous, regrettable and…

President Bola Tinubu has approved the appointment of seven persons to head agencies and programs under the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development. Ajuei Ngelale, Tinubu’s spokesperson disclosed this in a statement on Tuesday. The appointments include: Chief Executive Officers for the National Social Investment Programme Agency, Badamasi Lawal, National Agency for the Prohibition of Trafficking in Persons, Lami Bello, Programme Manager, National Social Safety-Net Coordinating Office, Funmilola Olotu. Others are Programme Manager, Grant for Vulnerable Groups, Aishat Alubankudi, Programme Manager, Home Grown School Feeding, Aderemi Adebowale, Programme Manager, National Cash Transfer Office, Abdullahi Imam and…

Shehu Sani has highlighted the only possible way to impeach Senate President Akpabio.NewsOnline Nigeria reports that Shehu Sani, a former Kaduna Central Senator, on Tuesday highlighted the only possible way to impeach Senate President, Godswill Akpabio. This Nigeria news platform understands that Sani said a senator must initiate Akpabio’s impeachment by consulting his colleagues and garnering enough numbers to push for his impeachment.  He, however, warned that such a senator would be suspended till the next election if the move fails.Posting on X, Sani wrote: “Removing Akpabio is only possible if a Senator consults his colleagues and gets enough votes to initiate…

Police have arrested some foreign nationals sponsoring protests with a Russian flag. NewsOnline Nigeria reports that the Nigerian Police have announced the arrest of foreign nationals reportedly sponsoring protests with the Russian flag in some northern parts of the country.This Nigeria news platform understands that the #EndBadGovernance nationwide protests against hardship and hunger took a twist over the weekend, with protesters in some Northern states holding up the Russian flag as they chanted “Tinubu must go”.  Reactions have since trailed the development, with human rights activists and Senior Advocate of Nigeria, like Femi Falana, and the Chief of Defence Staff (CDS) General…

Obasanjo disclosed that President Tinubu has returned fuel subsidy in Nigeria. NewsOnline Nigeria reports that Former President of Nigeria, Chief Olusegun Obasanjo has said the fuel subsidy removed in June 2023 by President Bola Tinubu’s administration has come back due to inflation. This Nigeria news platform understands that Obasanjo disclosed this in a recent interview with the Financial Times.  He faulted how Tinubu’s administration removed fuel subsidies. According to him, the government should have put measures in place before the fuel subsidy removal. “There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. “Because…