Today's Headlines:Niger Coup: CNG kicks against threats to prosecute Bazoum; Subsidy removal: UI cuts staff workdays to three

Niger Coup: CNG kicks against threats to prosecute Bazoum

Photo credit: Vanguard paper

The Coalition of Northern Groups (CNG) has reacted to development surrounding the Niger coup impasse, kicking against threats by the country’s military leaders to bring charges of high treason against the ousted President Mohamed Bazoum or kill him.

Reacting to the announcement by Niger’s military-appointed Prime Minister, CNG, in a statement by its Spokesperson, Abdul-Azeez Suleiman, said it was ill-timed, ill-advised and condemnable, as well as a provocation and contradiction of the junta’s reported willingness to find a peaceful solution to the current crisis.

Similarly, the CNG warned against any form of international escalation of the conflict and urged the Economic Community of West African States (ECOWAS) to continue to play its big brother role in the region by insisting on the exploration of all available diplomatic windows for peace.

Subsidy removal: UI cuts staff workdays to three

Photo credit: Vanguard paper

The University of Ibadan on Monday directed that work days be reduced from five to three for every worker in the school.

This, according to the university management, is following the astronomical increase in fuel pump prices.

This was revealed in a statement issued by the institution dated August 14, 2023, and signed by G.O. Saliu, Registrar and Secretary to Council.

NPA, TTP introduce N50 stamp duty on N1,000 receipt issued

Photo credit: Vanguard paper

THE Nigerian Ports Authority, NPA, and the Tucks Transit Parks, TTP, have introduced a mandatory N50.00 stamp duty payment on every N1,000 receipt issued to truck drivers.

In a notice to all stakeholders issue yesterday, the management of TTP said that the NPA has directed TTP to commence the implementation of the directive on the denotation of all issued receipts of N1,000.00 and above in value with N50.00.

The directive, according to TTP, is a policy of the Federal Ministry of Finance issued about two years ago to all Heads Ministries, Department and Agencies.

Guinea Insurance to issue shares through private placement

Photo credit: Vanguard paper

The management of Guinea Insurance Plc has gotten approval from regulatory authorities to issue 1,802,800,000 ordinary shares at 50 Kobo per share through private placement.

Speaking on the development, the Managing Director of the company, Mr. Ademola Abidogun, said: “The Company had gained the unanimous approval of the industry regulators, including the National Insurance Commission (NAICOM), the Securities and Exchange Commission (SEC), and the Nigerian Exchange Group (NGX), for its Completion Board Meeting and Private Placement initiative.

“This initiative involved the issuance of 1,802,800,000 Ordinary Shares at 50 Kobo per Share. The endorsement was seen as a reinforcement of the Company’s dedication to regulatory compliance and its clear strategic vision to emerge as a leading insurance company in Nigeria.”

He noted that the initiative was consistent with the Company’s proactive approach to securing future growth, increasing market share and its dedication to maximizing returns for investors and partners.

Qualityupdates (
)