FTSE Russell, a subsidiary of London Stock Exchange Group, has downgraded Nigeria from a frontier market to an unclassified market. It added that Nigeria was added to the Watch List from September 2022 for possible reclassification from Frontier to Unclassified market status. It explained that this was due to reports received from index users and market participants from 2020 onwards of significant, ongoing delays to the repatriation of capital from Nigeria. FTSE Russell said it has received feedback from market participants that although Nigeria has adopted a floating foreign exchange (FX) rate for the Nigerian Naira in the Investors’ &…
Author: Hints News
A Federal High Court sitting in Port Harcourt has convicted and sentenced Dan Abia, a former Special Adviser to the erstwhile Managing Director of Niger Delta Development Commission (NDDC), George Turnah, and two others: Ebis Orubebe and Uzorgor Silas Chidebere, to six years imprisonment. They were convicted by Justice A. T. Mohammed for obtaining money under false pretense, money laundering, conversion of funds and forgery contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act. In a statement issued Monday by the Economic and Financial…
The National Institute for Policy and Strategic Studies (NIPSS) has partnered a public relations firm, Bruit Costaud as part of efforts to enhance strategic communication, policy advocacy and research. The collaboration between the duo organisations was officially announced when the Director General of NIPPS, Professor Ayo Omotayo, paid a courtesy visit to the former minister of information and culture, and Managing Partner, Bruit Costaud, Lai Mohammed on Monday in Abuja. Mohammed said as NIPSS is strongly positioned as a policy think tank specifically focused on nation building through effective policy making, the PR firm is Nigeria’s frontier strategic policy advisory…
The Council of Registered Builders of Nigeria (CORBON), says the list of Registered Builders, licenced to practice in Nigeria will soon be circulated publicly. Making the list public became imperative following the sad incident of collapsed building in Uyo, Akwa Ibom state which claimed the life of one favour Chukwuemeka Okoro, while five persons were rescued. The Registrar/Secretary to Council, Bldr. Adetunji Adeniran, in a statement issued on Monday noted that the alleged site Engineer, one Felix Udoh of Felixzity High Technology Limited fled, before he was on 7/8/2023 arrested by Anti-Robbery Squad of the State Command. He said the…
The Armed Fulani militia group continued their reign of terror on sunday night when the attacked Kulben village within Kombun District of Mangu Local Government Area of Plateau State TheHintsNews reports that the gunmen came to the village at about 10:00 pm and killed 10 people and injured many others. A resident of Kulben village, Mr. Moses Fwan, who confirmed the attack on Monday, said that the incident also left several houses belonging to villagers burnt by the assailants before they fled into the nearby hills. He said: “Armed Fulani militia group attacked our community in Kulben village within Kombun…
The United Arab Emirates has lifted the visa restriction placed on Nigerian travellers. The Special Adviser to the President on Media and Publicity, Ajuri Ngilale disclosed this in a statement issued on monday. He said: “President Bola Ahmed Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi, have finalised a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigerian travellers. “Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria, without any…
Brookfield Group of Companies, says it has concluded plans to deliver one million multi-family apartment units in three major districts across the nation’s capital. The company noted that the first phase of the project would accommodate 450,000 multi-family residential apartment units, costing an average sum of about $16.2 billion through international bridge finance. The Chief Executive Officer of the company, Mr. Oluwaseun Olatunji, who made this known in a statement issued on Monday, revealed that the project would be executed in partnership with the Federal Capital Development Authority (FCTA) under the leadership of its Minister, Nyesom Wike. He stressed that…
Following the inauguration of the National Assembly on June 13, 2023 and the subsequent declaration by the Speaker of the House of Representatives, Hon. Tajudeen Abbas that the 10th House would ensure and encourage an open parliament, his declaration resonated with Nigerians who thought the current Assembly would be a departure from the past. However, the Green Chamber that has not really settled down for legislative activities has been plagued with various allegations of corruption. The level of corruption already oozing out of the 10th Assembly is a surprise to many to say the least. Truth be told, this is…
The Peoples Democratic Party (PDP) has said that the knee-jerk admission by Tinubu Presidential Legal Team (TPLT) that it scanned and watermarked” its copy of the Presidential Election Petition Court (PEPC) judgement currently in circulation was self-indicting and lends credence to widespread public insinuation of pre-determined manipulation by the All Progressives Congress (APC). The National Publicity Secretary of the party, Hon. Debo Ologunagba, in a statement issued Monday, maintained that the rush by the TPLT in admitting that it imprinted on the CTC of the judgment smacks of a desperate attempt to dispel public scrutiny and ward off the possibility…
The Minister of State for Labour and Employment, Hon. Nkeiruka Onyejeocha, has denied allegations of dolling out dollars to a yet to be identified group to launch a media campaign for her to unseat the Speaker of House Representatives, Hon. Abbas Tajudeen, saying she’s too busy The minister in a statement issued Monday by his Chief Press Secretary, Gabriel Emameh, described the allegation as dirty politics taken too far, while challenging them to come out with proof. She described the allegation as point-blank lies sponsored by her political enemies who have no line between darkness and light; morality or absurdity. …