Author: damazah@gmail.com

Abbey Bank Plc has announced five new significant shareholders following the completion of its private placement of 26.56 billion ordinary shares. The lender, which provides real estate construction finance and personal banking services, disclosed this in a regulatory filing signed by the bank’s Executive Director, John Okonkwo, on Wednesday. According to the bank, the private placement involved 26,562,647,265 ordinary shares of 50 kobo each, issued at ₦2.43 per share. Abdulganiyu Olajide Adeola emerged as the bank’s largest shareholder, holding 6,995,884,774 shares, representing 19.05 per cent of the bank. Herel Limited holds the same number of shares, giving it an 18.48…

By Elizabeth Adegbesan The  Naira yesterday appreciated to N1,380 per dollar from N1,390 in the parallel market on Monday. But the naira depreciated to N1,329.5 per dollar in the Nigerian Foreign Exchange Market,  NFEM. Data  from the Central Bank of Nigeria,  CBN, showed that the indicative exchange rate for the naira rose to N1,329.5 per dollar from N1,329 per dollar on Monday, indicating 50 kobo depreciation for the local currency.  Consequently, the margin between the parallel and official markets narrowed to N50.5 per dollar from N61 per dollar on Monday. The value of interbank turnover in NFEM grew  by 177.6…

The Republican speaker of the House, Mike Johnson, announced on Wednesday that he would again cancel votes scheduled for Thursday, sending lawmakers home one day early ahead of the midterm election recess.The latest change to the legislative schedule means House members will avoid voting on Republican Thomas Massie’s resolution to impeach the defense secretary, Pete Hegseth, and comes amid a frenzied attempt to propose legislation on artificial intelligence.It’s the latest round of cancellations at the hands of Johnson, who had already cut the pre-election session short by two weeks. Democrats have reacted angrily, encouraging Johnson to keep lawmakers on Capitol…

Nato needs “more UK and more Europe” to deal with the most dangerous security environment faced by the west in a generation, the secretary general of the 32-country military alliance said this afternoon on a visit to the UK.Mark Rutte praised Britain for promising to increase defence spending in line with US demands after a meeting with prime minister Andy Burnham – but argued that the military and financial effort must continue into the future.“It is essential that your armed forces continue to provide the hard power Nato needs,” Rutte said in a speech to a specialist audience at Ditchley…

The trust said in a statement that it hoped that over the coming months, the aquatic rodents will “adapt easily to life on the 16-hectare reserve at Thundry Meadows and establish widely across the top of the Wey catchment”.Their return would also benefit other species which depend on healthy wetland habitats including herons and birds of prey, they added.David Elliott, National Trust lead ranger for the South Downs West said: “Nature wins when we work together.””It’s so encouraging to see the water voles returning after all this time, they have been locally extinct for decades.”The return of this enchanting species…

Sep 16, 2026, 07:10 AM ETHow does your NBA team look heading into the 2026-27 season? What about in 2029?The NBA Future Power Rankings are ESPN’s projection of the on-court success expected for each team over the next three seasons: 2026-27, 2027-28 and 2028-29.To determine the rankings, we asked ESPN analysts Ben Golliver, Zach Kram, Bobby Marks and Dean Oliver to rate teams in five categories and rank them relative to the rest of the league. (An explanation of each category and a full view of all 30 teams’ ratings is at the bottom of these rankings.)Jump to a team:ATL…

* Three-day event to unite Edo diaspora, promote culture, attract investment Sunday Aborisade in Abuja London will host the 2026 edition of the Edo Festival and Awards from November 20 to 22, with organisers positioning the three-day international gathering as a platform for promoting Edo heritage, attracting investment and strengthening ties among Edo people across Nigeria and the diaspora. The event, themed ‘Celebrating Our Heritage. Honouring Excellence. Building Unity,’ is expected to bring together Edo indigenes and friends of Edo State from the United Kingdom, Nigeria and other parts of the world, including traditional rulers, business leaders, professionals, artists, entertainers…

‘The plain fact is that inflation is too high, and has been for too long,’ says WarshYet, for more than five years, inflation has been running above target, Warsh goes on, so the Fed’s predominant focus is on the price stability side of its mandate. double quotation markThe plain fact is that inflation is too high, and has been for too long. He adds: “This summer’s inflation readings do not tell me that underlying trends have meaningfully improved.”ShareKey eventsDominic Rushe“I love the inflation,” Donald Trump infamously said back in June, arguing that price rises were just temporary and would drop…

Alex Enumah in Abuja A Federal High Court in Abuja, has granted request by Presidential Candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, to serve President Bola Tinubu court documents, challenging his eligibility in the 2027 general elections, through the All Progressives Congress (APC). Justice Inyang Ekwo granted the request on Wednesday while ruling in an ex-parte motion moved by Atiku’s lawyer, O.T. Omotayo-Ojo, seeking an order of substituted service of the court documents on Tinubu. Recall that hearing in the suit was few weeks ago stalled, following the insistence of the plaintiffs to personally serve the court…

Nigeria’s expanding mobile broadband infrastructure is beginning to reshape the economics of digital content production, with faster 4G and 5G networks reducing the time required to move large media files and creating new possibilities for Nigerian creators competing for audiences in a global digital marketplace. The development comes as Nigeria’s creator economy expands beyond social-media influence into a broader digital business ecosystem spanning comedy, music, entertainment, education, advertising, and other forms of online content. A June 2026 report put the number of active content creators and influencers in Nigeria at more than 250,000, underscoring the growing scale of a sector…