General

The federal government has suspended construction works on the Lagos-Ibadan expressway for easy access during the Eid al-Adha holiday. In a statement on Monday, Olukorede Kesha, federal controller of works in Lagos state, said works on the road will be suspended from Tuesday, June 27 to Sunday, July 2. She added that […]

The Economic and Financial Crimes Commission (EFCC) has arrested a “fake senator” who also posed as a Federal Bureau of Investigation (FBI) agent in Abuja. In a statement on Monday, Wilson Uwujaren, EFCC head of media and publicity, said the suspect, identified as Ifechukwu Tom Makwe, was arrested in the Guzape area of […]

Here are the seven top business stories you need to track this week — June 26 to July 30. ELECTRICITY TARIFF HIKE The federal government recently announced a possible increase in electricity tariff by 40 percent effective July 1, 2023. The hike, according to the government, was in response to the […]

The Federation Account Allocation Committee (FAAC) adopted N436.38/$ as exchange rate for the calculation of the forex component of federally-collected revenues for June, TheCable can report. This was based on the advice of the Central Bank of Nigeria (CBN), a development that did not go down well with the states. The central […]

The National Hajj Commission (NAHCON) says seven Nigerian pilgrims who travelled for this year’s hajj exercise have died in Saudi Arabia. Mousa Ubandawaki, the commission’s deputy director of information and publication, who confirmed the development to TheCable, said 30 Nigerian pilgrims who suffered some of the psychological effects of flight, crowd and the […]

Usman Buda, a butcher, has been killed over alleged blasphemy in Sokoto state. Buda was reportedly stoned to death by an angry mob over remarks considered to be an insult to Prophet Muhammad. The incident occurred at the Sokoto abattoir on Sunday. Confirming the incident, Ahmad Rufai, Sokoto police spokesperson, said […]

The Abuja Electricity Distribution Company (AEDC) says it will increase tariffs due to the fluctuating exchange rate in the country.  AEDC is one of the 11 power distribution companies in the country and it has a franchise for the distribution and sale of electricity across an area of 133,000 km2 in the federal capital […]

Akinwumi Adesina, president of the African Development Bank (AfDB), says his institution is ready to establish an entrepreneurship investment bank in Nigeria. Adesina said the establishment of such a bank is in alignment with President Bola Tinubu’s plans and vision for young people in Nigeria. Adesina, who was also attending the new […]