Author: Prima News

Court has nullified CBN dissolution of Union Bank Board and ordered reinstatement of management.   NewsOnline Nigeria reports that Justice Chukwujekwu Aneke of the Federal High Court in Lagos has ruled that the Central Bank of Nigeria (CBN) acted beyond its statutory powers in dissolving the board and management of Union Bank of Nigeria Plc, declaring the January 2024 intervention unlawful.   Delivering judgment on Wednesday in Suit No: FHC/L/MISC/1377/2025, the court held that the apex bank’s actions were ultra vires and inconsistent with the provisions of the Banks and Other Financial Institutions Act 2020.   The suit was filed…

By Adedapo Adesanya The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has acknowledged that the country still depends on imported petroleum products as domestic refining cannot fully meet local demand. Speaking on the state of the downstream sector at the CERAWeek by S&P Global Conference in Houston, Texas, Mr Lokpobiri acknowledged that while local refining capacity has improved significantly, it remains insufficient to fully cover national consumption. The Minister noted that Nigeria was making measurable progress, with domestic refining contributing a growing share of supply, but added that imports remain a critical component of the country’s fuel…

Zonal executives of the All Progressives Congress emerged on Wednesday, pledging to mobilise overwhelming votes for President Bola Tinubu to secure a landslide victory in the 2027 election. The congress was a prelude to the national convention scheduled for March 27 and 28 in Abuja. Prior to the convention, the President, on Wednesday evening, returned to Abuja after observing the Eid-el-Fitr celebrations in Lagos. Tinubu had earlier returned to Nigeria on Friday from the United Kingdom, where he went for a state visit. During his stay in Lagos, he held a series of high-level engagements, receiving 23 governors and also…

•Trump puts forward a 15-point plan •Iranian military rejects Trump’s plan By Nkiruka Nnorom with agency reports US President, Donald Trump, yesterday put forward a 15-point plan to see to the end of the war he started against Iran three weeks ago, alongside Israel. The plan includes the pledge that nuclear facilities at Natanz, Isfahan, and Fordow must be destroyed. But Iran rejected the proposal, mocked Trump’s purported ceasefire and listed its own proposal However, Washington sent Tehran the plan to end the crisis in the Middle East, highlighting the White House’s eagerness to find an offramp from the war as…

The father of Super Eagles midfielder Alex Iwobi has labelled reports that his son was robbed at his London home as false, confirming that the Fulham star had already departed for Turkey when the story began circulating online, PUNCH Sports Extra reports. Chuka Iwobi spoke directly with veteran Nigerian journalist Colin Udoh to set the record straight after widespread reports alleged that armed intruders had broken into the midfielder’s residence and made away with valuables worth up to £500,000, including jewellery, luxury watches, a MacBook, two iPhones and cash. “Alex is fine and there was absolutely no attempt to burgle…

The Benin Traditional Council on Tuesday insisted that popular streamer, Habeeb Hamzat Adelaja, popularly known as Peller, had no approval to visit the palace. Reacting to claims by Peller and his management, the council’s secretary, Frank Irabor, said in a statement that the submission of a letter of request and its acknowledgement do not constitute approval. Irabor said, “The attention of the Benin Traditional Council has been drawn to recent public reactions following its press release concerning the abominable and unauthorised visit to the Palace of the Oba of Benin by Habeeb Hamzat Adelaja, popularly known as ‘Peller,’ and his…

It’s day 26 of war in the Middle East. The UN chief says with the conflict now totally out of control, diplomacy must prevail. Ongoing strikes in Israel and Iran have included intensifying Israeli attacks against Hezbollah targets in Lebanon, while some US troops are heading to the region, the Pentagon has confirmed. Meanwhile, Iran has told the UN maritime agency that the Strait of Hormuz remains open to “non-hostile” ships not associated with the US and Israel. UN News app users can follow coverage here. Source link

Festivals are held in many places across Nigeria. They can be cultural, traditional, or spiritual, among others. The frequency of these festivals varies from one place to another, depending on their purpose. They may be annual or more frequent. Most times, these festivals are meant to foster unity and communal living. I am not aware of any festival deliberately conceived to cause havoc. What should have been a moment of cultural pride in Ozoro, Delta State, recently instead became a stain on our collective conscience. A festival—an institution meant to celebrate heritage, unity, and identity—was reduced to a theatre of…

One in 20 Nigerians now earns above ₦1 million ($723.26) monthly, according to data from savings platform Piggyvest’s new savings report. The share of those earning ₦1 million ($723.26) or more monthly rose to 5% in 2025, from 2% in 2024.  The report, which surveyed over 25,000 Nigerians, shows that while income levels are improving across several brackets, inflation, especially on food, is widening the gap between earning more and living better. This reflects a broader economic reality in Nigeria, where income growth is struggling to keep pace with inflation and currency weakness. As prices rise faster than wages, higher…

Former Liverpool striker and Wales international, John Toshack, has been diagnosed with dementia at the age of 77, his son Cameron has confirmed. Cameron Toshack, currently coaching in Thailand, told The Daily Mail on Wednesday that his father experiences “good days and bad days” as the disease primarily affects his short-term memory. “It’s a terrible disease. “I speak to him most days,  and if we chat in the afternoon, he might not remember that we also spoke in the morning,”Cameron said, However, the 77-year-old’s long-term memory remains remarkably sharp, especially when recalling his playing and managerial days. Cameron recounted how…