Author: straightnewsng.com

Billionaire investor, Mr. Femi Otedola has divested major shares in Transcorp Incorporated Plc to Mr. Tony Elumelu’s HH Capital Limited which has main stake in the diversified conglomerate. The acting Company Secretary, Transcorp, ‘Funmi Olofintuyi in a statement on the Nigerian Exchange Limited (NGX) Friday, stated that HH Capital Limited acquired 1,999,784,173, bringing its total stake to 11,990,957,350 units, representing 29.5 per cent of the company’s total shares as of April 28, 2023. Olofintuyi said, “As noted in our previous communication, the Company welcomes the continued expression of confidence in its leadership and management by the investing public, as we…

A cold war is brewing between the Chairman of the Niger Delta Development Commission, Lauretta Onochie and Dr Samuel Ogbuku, the commission’s Managing Director, over the signing of a $15 billion railway line agreement. Information from the commission website indicates that its managing director, Ogbuku, on Tuesday signed a Memorandum of Understanding (MoU) with Atlantic Global Resources Inc, to build a railway network to connect the nine states in the region. The two parties, the commission said, signed the agreement at a ceremony which was part of a one-day Public Private Partnership (PPP) Summit organised by the commission in Lagos.…

The recent cash crunch in Nigeria affected the country’s economy, the United Nations (UN) says. In a recent report, the inter-governmental organisation said the development which lasted for months mostly affected the informal sector. In March 2023, Dr. Muda Yusuf, Director/CEO Centre for the Promotion of Private Enterprise (CPPE) confirmed, “Since the onset of the cash crisis, the Nigerian economy has lost an estimated N20 trillion. ‘‘These losses arose from the deceleration of economic activities, the crippling of trading activities, the stifling of the informal economy, contraction in the agricultural sector and the paralysis of the rural economy. There are…

Ahead of the swearing in of Asiwaju Bola Tinubu as Nigeria’s next President on May 29, All Progressives Congress (APC) has purportedly zoned key offices in the new administration to douse political fireworks. The party zones the position of National Chairman, and Speakership in the House of Representatives to North Central (Niger, Kogi, Benue, Plateau, Nasarawa (Nassarawa), Kwara). North East Region comprising Adamawa, Bauchi, Borno, Gombe, Taraba, Yobe has Vice President, Federal Republic of Nigeria and House of Representatives Majority Leader. Secretary to the Federal Government and Deputy Senate President go to North West (Kaduna, Katsina, Kano, Kebbi, Sokoto, Jigawa,…

Kevin De Bruyne scored brace for Manchester City as Arsenal’s title chase suffered heavy blow at Etihad Stadium on Wednesday. In the epic match, Manchester City hammered title rivals, Arsenal, four goals to one in their midweek Premier League tie. John Stones and Erling Haaland who waited till the dead end of the game were City’s other goal scorers. Though Rob Holding scored a consolation goal for Arsenal, it was largely insignificant. The first goal came in the seventh minute when De Bruyne latched onto a pass from Haaland and fired a right-footed shot from outside the box into the…

By: Israel Umoh The event kept track of the development strides of the Completion Agenda of Governor Udom Emmanuel in eight years further gas lighted the shortcomings of the administration in failing to meet targets and achieve results. While setting the tone for the event on Day Two, the Commissioner for Information and Strategy, Comrade Ini Ememobong stated that since assumption of office in 2015, Governor Udom Emmanuel administration has vigorously pursued multi-sectoral development and intervention programmes on all fronts which is why there is a need for citizens to be updated and also feel their pulse on government’s efforts.…

Nigerian veteran journalist, Peter Enahoro fondly known by his pen name, ‘Peter Pan’ died in London, the United Kingdom on Monday. This was announced in a statement by Nigeria’s foremost female journalist, Ms Bunmi Sofola. The statement read in part, “Regret to announce the passing on of our iconic journalist Peter Enahoro ‘Peter Pan’ today in London at the age of 88. RIP. “Also known by the pen name ‘Peter Pan’ because of his popular column in New African magazine under that name. He has been described as ‘perhaps Africa’s best-known international journalist.” Enahoro was a journalist, author, businessman and…

By: Israel Umoh The two-day inter-ministerial briefing which featured public engagements and enlightenment on government programmes and activities may have come and gone but its widespread impact remains a subject of continuous discourse.   Tagged: Tracking the Promise, the event was held at the ambient Emerald Event Centre, along Four Lanes,  Edet Akpan Avenue, Uyo, the Akwa Ibom State capital between Wednesday, March 15 and Thursday, March 16, 2023. Its strategic timing, close to the Governorship/House of Assembly elections in the country was not lost on State government watchers. By the time the event got underway on the opening day, participants were left…

Israel Umoh Following failure of Akwa Ibom government to implement their demands, teachers in public secondary and primary schools in the state are resuming industrial action from April 25. A notice dated April 20, 2023 and signed by Comrade Sam Umo-Inyang, Senior Assistant Secretary General of Nigeria Union of Teachers (NUT), Akwa Ibom State wing, was sent to the Chairmen of State Universal Basic Education Board, State Secondary Education Board and State Technical Education Board for compliance. This was as the state Commissioner for Education, Mrs Idongesit Etiebet, through her representative, had directed resumption of schools for the third term …

Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “set up a presidential panel of enquiry to promptly probe the grim allegations that over 149 million barrels of crude oil are missing.” According to the 2019 audited report by the Auditor-General over 107 million barrels of crude oil were lifted as domestic crude without any document or tracing. Nigeria Extractive Industries Transparency Initiative (NEITI) also reported missing 42.25 million barrels of crude oil in 2019. SERAP also urged Buhari to “ensure the effective prosecution of anyone suspected to be responsible for the plundering of the country’s oil…