In the early hours of Tuesday, a colossal container ship collided with the Francis Scott Key Bridge, causing a catastrophic collapse that sent vehicles and individuals plummeting into the Patapsco River below. The 948-foot Singapore-flagged vessel, identified as the Dali, struck the bridge, a vital artery for the Port of Baltimore, enveloping the area in Read More…
Day: 26 March 2024
CBN’s MPC hikes monetary policy rate to 24.75% amid economic challenges
In a decisive move to address the economic challenges facing Nigeria, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the Monetary Policy Rate (MPR) by 200 basis points, setting it at 24.75% from the previous 22.75%. The MPR, a critical financial tool, influences the rate at which banks lend to each other Read More…
Ali Baba decries killing of soldiers, calls for moral reawakening and constitutional reform
Renowned Nigerian comedian, Atunyota Akpobome, also known as Ali Baba, has voiced his strong condemnation of the recent killing of 17 Nigerian Army officers in Delta State, labelling the act as “highly abominable.” In a heartfelt interview with the News Agency of Nigeria (NAN) in Lagos, Akpobome expressed his dismay, stating, “The heinous murder of Read More…
Hotel cashier faces theft charges for missing N6.7 million
A 43-year-old hotel cashier, Tiamiyu Ayanbode, was brought before an Ikeja Magistrates’ Court on Tuesday, facing allegations of embezzling N6.7 million from his employer. Residing in Agege, Lagos, Ayanbode stands accused of theft, to which he has entered a plea of not guilty. “In the period between October 2023 and January, at the Lagos Airport Read More…
Nigerian insurance sector surges with N1.003 trillion gross premium in Q4 2023
The Nigerian Insurance industry has recorded a remarkable growth in the fourth quarter of 2023, with the Gross Premium Written reaching a staggering N1.003 trillion. This figure marks a significant 27% increase from the N790 billion reported in the previous year. “The statistics reflect a robust upward trajectory in the market’s performance as the year Read More…