PREMIUM TIMES

Nigerian stocks accelerated at their swiftest pace so far this year on Tuesday as the main equity index rose by 5.2 per cent and the value of shares appreciated by over N1.5 trillion.

Analysts say the jump was helped by positive sentiments that followed new policy directions by the new administration in the country.

Investors warmed to President Bola Tinubu’s planned economic reforms, particularly his resolve to scrap costly fuel subsidies and unify Nigeria’s multiple exchange rates, with transaction volume increasing by 133 per cent and turnover more than doubling.

The Federal Competition and Consumer Protection Commission on Tuesday said it will ensure that filling stations sell petroleum products in compliance with the law to prevent hardship on Nigerians.

The commission made this known Tuesday in a statement signed by Babatunde Irukera, the Executive Vice Chairman/Chief Executive Officer.

Nigerians have had difficulty getting petrol at filling stations since Monday after President Bola Tinubu announced government’s plan to put an end to the subsidy regime.

The United Bank for Africa (UBA) Plc on Thursday announced that all its African subsidiaries are now on firm footing as they have been contributing maximally to the group’s profit margin.

The bank said its African operations, specifically, have contributed close to 50 per cent of the group’s earnings, leveraging on digital offerings and products across the board to gain large market shares across the different regions of operations in Africa.

Famous Nollywood actor, Moses Armstrong, arrested for allegedly raping a minor, is expected to appear in court on Friday.

Like his colleague, James Olanrewaju, also known as Baba Ijesha, Armstrong is the second Nigerian actor to be entangled in an alleged rape case with a minor.

The President of the Akwa Ibom State chapter of the Actors Guild of Nigeria, Prince Uduak, confirmed to PREMIUM TIMES that the actor was arrested for allegedly raping a 16-year-old earlier in the week.

Titan Trust Bank got $300 million financing to complete the buyout of a controlling stake in Union Bank, according to the investment bank that midwifed the deal.

PAC Capital Limited facilitated the raise of the much-needed cash from Cairo-based African Export-Import Bank (Afreximbank), Humphrey Oriakhi, the CEO of the investment bank, said in an emailed statement sent to PREMIUM TIMES.

“Specifically, the arranged funding completed the funds required for the proposed acquisition,” Mr. Oriakhi said.

The Nigeria Police Force on Thursday disobeyed an order of the Federal Capital Territory (FCT) High Court in Apo, Abuja, to produce a murder suspect, Uwani Usman, to answer for the alleged killing of her husband.

Instead of complying with the court order, the Inspector-General of Police, Usman Baba, our reporter learnt, decided to grant the suspect bail after the court issued the production order at Tuesday’s sitting.

The Lagos State Government says it will demolish the remaining buildings on the land, where the 21-storey building collapsed on Gerrard Road, in Ikoyi.

Idris Salako, the commissioner for physical planning and urban development, disclosed this at a news conference on the handing over of the complex to the contractor for deconstruction on Thursday in Lagos.

Former governor Ibikunle Amosun of Ogun on Thursday organised a political rally in Abeokuta to mobilise support for the presidential ambition of Bola Tinubu, the national leader of the All Progressives Congress (APC).

The House of Representatives has urged the federal government to declare a state of emergency on all forest reserves in Owo, Ondo State, to aid the arrest of the attackers of the St. Francis Catholic Church in the town.

The House directed the police to intensify the search for the perpetrators of the attack, which claimed about 40 lives.

The resolution followed a motion of urgent public importance moved by Timehin Adelegbe (APC, Ondo) on Thursday during the plenary.

Fast-rising Nigerian singer, Habeeb Okikiola, better known as Portable, has welcomed another son with his baby mama, Omobewaji Feranmi.

The 27-year-old Sango Ota-based singer shared videos of the newborn on his Instagram page. In the video, he held the newborn closely to his chest.

The leader of the Zen nation movement referred to his son as ‘Zazu son’. He also revealed the child’s name as Opeyemi.

Portable wrote, “Aliamdlulilai. Izza bouncing baby boy. Opeyemi Ølüwa mi Eazy ZAZUU son”.