TheCable News

The Securities and Exchange Commission (SEC) says it is investigating the acquisition of 4.77 billion shares of FBN Holdings by Oba Otudeko, chairman of Honeywell Group. A top official of the commission confirmed the development to TheCable on Wednesday. The official said the capital market regulator has commenced a probe into the […]

The Debt Management Office (DMO) says Nigeria has redeemed a $500 million Eurobond on its due date, July 12, 2023. Eurobond is a debt instrument that’s denominated in a currency other than the home currency of the country or market in which it is issued. In a statement on Wednesday, the DMO […]

Salihu Lukman, vice chairman of the All Progressives Congress (APC) in the north-west, says Abdullahi Adamu and Iyiola Omisore, national chairman and secretary, are seeking to be emperors of the party. Addressing a press conference in Abuja on Wednesday, Lukman said the “aspiration” of the two party leaders is not in line with […]

The house of representatives has asked the Joint Admissions and Matriculation Board (JAMB) to extend the validity of the Unified Tertiary Matriculation Examination (UTME) results to three years. The lower legislative chamber also urged the board to conduct the UTME at least twice a year. By current arrangement, result of the exam […]

President Bola Tinubu is currently meeting with “The class of 1999 governors” at the presidential villa, Abuja. The former governors in attendance include James Ibori ( Delta state); Donald Duke (Cross River); Niyi Adebayo (Ekiti); Lucky Igbinedion(Edo); Orji Uzor Kalu( Abia ) and Sam Egwu (Ebonyi). Others are Chimaroke Nnamani (Enugu); Ibrahim […]

The naira weakened by 5.96 percent to close at N788.42/$ at the investors and exporters (I&E) window on Tuesday.  The I&E window is the country’s official exchange rate window. According to data from FMDQ Securities Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, the naira hit an intra-day trading high […]

President Bola Tinubu has asked the national assembly to approve N500 billion to allow the federal government to provide palliatives to cushion the effects of petrol subsidy removal on Nigerians. Tinubu’s request is contained in a letter sent to the national assembly and read by Tajudeen Abbas, speaker of the house, during plenary […]

Oba Otudeko, chairman of Honeywell Group, has asked First Bank Nigeria (FBN) Holdings to disregard Ecobank’s request for it to reject his acquisition of 4.77 billion shares. Recently, Honeywell Group, through its affiliate, Barbican Capital Limited, acquired a total of 4,770,269,843 units of FBN Holdings’ shares. The purchase brought the stake […]

A United States district court has sentenced Olalekan Ponle, better known as Woodberry, to eight years and three months in prison for multimillion-dollar fraud. Woodberry is an ally of Ramon Abbas, best known as Hushpuppi, another Nigerian who was jailed for internet fraud in November 2022. On June 10, 2020, Hushpuppi and […]

Five persons have lost their lives in an auto crash that occurred at Ugwu Onyeama road in Enugu. In a statement on Tuesday, Dan Nwomeh, head of the governor’s media office, said the accident occurred on Tuesday morning, adding that 15 passengers sustained injuries during the crash. Speaking on the incident, Peter […]