CBN cuts T-bill rate amid N3.63tn demand
Read More: https://punchng.com/cbn-cuts-t-bill-rate-amid-n3-63tn-demand/
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Read More: https://punchng.com/cbn-cuts-t-bill-rate-amid-n3-63tn-demand/
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Read More: https://punchng.com/nigerias-external-reserves-hit-53-11bn-near-2009-record/
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The police said the suspects have confessed to the crime.
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Mr Fubara disclosed this on Thursday while commissioning the newly upgraded Neuropsychiatric Hospital alongside a new General Hospital in Rumuigbo.
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ICPC also recommends prosecution of Adeniyi Adeyemi and further investigation of officials and agencies that helped give legitimacy to the disputed agency.
The post Fake Agency Scandal: ICPC recommends disciplinary action against 13 officials (Full Names) appeared first on Premium Times Nigeria.
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The additional stations will bring the planned number of CNG refuelling stations under the federal government’s programme to 1,000 nationwide.
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The Transmission Company of Nigeria (TCN) has introduced an internally developed load & outage analytics platform to address systemic operational
read more TCN unveils initiative to tackle grid losses, data inefficiencies
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First City Monument Bank (FCMB) has supported a leadership summit that brought together 1,000 National Youth Service Corps (NYSC) members for training on employment, entrepreneurship, financial management and leadership.
The Peak Performer Emerging Leaders’ Summit 2026, organised by The Peak Performer Africa and convened by Dr Abiola Salami, was held on August 19 at Solution Arena in Lagos.
Themed “I Move with G.R.I.T. – From Potential to Performance,” the summit focused on helping young graduates develop workplace skills, financial discipline, adaptability and the ability to turn their knowledge into career and business opportunities.
Participants were trained in five areas: Get Hired, Get Digital, Get Financially Strong, Build Something and Create Impact. The sessions covered workplace expectations, artificial intelligence and digital skills, personal finance, entrepreneurship, leadership and community problem-solving.
Salami, Founder of The Peak Performer Africa, said the programme was designed to help young Nigerians turn their potential into measurable results.
“Potential is a starting point, not an outcome. Young people need the mindset, capability, and discipline to take deliberate action and produce evidence of progress. The real measure of this summit will be what participants execute after leaving the venue,” he said.
Representing FCMB, Olajire Awofisibe, Group Head of Retail Asset Products, joined other professionals and business leaders in discussions on what young people need to secure jobs, stand out at work and advance their careers.
Awofisibe also facilitated the Get Financially Strong session, where participants learned about budgeting, saving, responsible borrowing, credit and managing their first salaries.
He said young people moving from national service into employment or business must develop good money habits early.
“The transition from national service to employment or entrepreneurship comes with important financial decisions. Income alone does not create financial security. What matters is how consistently people budget, save, use credit and plan for the future,” Awofisibe said.
He added that borrowing could be useful when properly planned but could become a burden when used for unnecessary consumption.
The summit also featured panel discussions, practical sessions, music, comedy and audience activities. Nigerian Idol winner Victory Gbakara and first runner-up Precious Mac shared their experiences on the preparation, discipline and courage required to turn talent into success.
After the summit, participants began a 30-Day MOVE Challenge, through which they are expected to apply what they learned by developing projects under the five pathways. They are also required to identify beneficiaries, set milestones and document a specific action completed within 30 days.
FCMB said its support for the programme was part of its efforts to equip young Nigerians with financial knowledge and workplace skills.
The 2026 summit followed the 2025 edition, which attracted more than 500 NYSC members.
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Passengers who used the airport this week were met with a shocker that the Federal Airports Authority of Nigeria (FAAN) had placed a restriction on e-hailing services like Uber, Bolt, In-drive and others within the airport and pushed forward a platform with fares reportedly up to N30,000 which is five times the normal rate.
As expected, there was outrage which forced FAAN backtrack and a statement from the Director, Public Affairs and Consumer Protection, Henry Agbebire, was released in the early hours of Thursday explaining what went down. FAAN said that for nearly a decade, it has been working to address challenges arising from the activities of commercial and e-hailing vehicles within the airport environment, including increasing cases of passenger solicitation and touting, unregulated operations, random pick-ups, and associated safety, security and accountability concerns.
The authority explained the reason behind its controversial decision to restrict e-hailing services, citing operational inefficiencies that have plagued airport transportation management. It said these challenges, which in some instances involve drivers operating across more than one platform, made it necessary for the Authority to strengthen the management and visibility of commercial transportation within the airport.
FAAN further stated that it was in response to these concerns that it introduced the Airport Car Hire Rank Management System, (ACHRAMS) a queue-management and airport transportation management system which was to be the solution to the growing transportation management issues within the airport.
However, the introduction of ACHRAMS sparked backlash especially because of the cost associated with the new platform. The system’s fares, which in some instances went as N30,000 was heavily criticised by the general public, who compared the rates to the fares by other e-hailing taxis.
While defending the ACHRAMS system, FAAN said ACHRAMS is not an e-hailing application and was never conceived as a competitor to Uber, Bolt or any other taxis as its function is limited to the management of airport car-hire and the authorised operations associated with them. FAAN said it supports healthy competition and does not seek to create or promote a monopoly in airport transportation.
While addressing the rates of ACHRAMS, FAAN said they were not new but rather pre-existing airport taxi fares that had been in place independently of the application. The Authority also said ACHRAMS was introduced to enable more transparency and visibility.
It said: “What ACHRAMS introduced was greater visibility and transparency around the prevailing airport-taxi rates, making the cost more readily apparent to passengers. FAAN recognises, however, that the comparison with the lower fares passengers had become accustomed to through e-hailing platforms understandably heightened public concern.”
FAAN acknowledged passenger concerns regarding costs and the inconvenience caused during the period when e-hailing services were restricted and apologised for it. The Authority then concluded by announcing that it has reached an agreement with Bolt. It said: “The Authority is pleased to announce that, following constructive engagements, FAAN and Bolt have reached an agreeable operational framework and Bolt is cleared to commence its services at FAAN-managed airports immediately. The resolution demonstrates that it is possible to protect the integrity and security of the airport environment while preserving the convenience and freedom of choice that e-hailing services provide to passengers. Passengers remain free to choose from available transportation options that best meet their needs and that its responsibility is to ensure that whichever authorised service they choose operates within a safe, secure, orderly and accountable airport environment.”
Nigerians react
Despite FAAN’s efforts to explain its position, the responses from Nigerians were scathing. Many took to social media to blast FAAN accusing the Authority of creating a problem that didn’t exist in the first place.
An X user, Alexander Ehanire, said: “FAAN, respectfully, you created a problem that did not exist and then designed a system to solve what nobody knows. That is the real issue here. Uber, Bolt and others already show me the driver, the car, plate number, price, route, location, rating and receipt. The entire trip is digitally traceable and I’m happy. What additional ‘visibility’ are we looking for? Your airport domiciled taxis are the only ones that are lacking behind with their laminated armed robber priced trips. What are you doing about that? Instead, you somehow found a way to insert yourself into the part of the market that was already working. This habit has to stop. Every successful private sector innovation cannot become an invitation for the government to create another platform, concession or collection point. Your job is to regulate the airport. FAAN does not need to become Uber’s Uber or Bolt’s Bolt.”
Another user, Demola, voiced frustration over what they perceived as unnecessary government intervention, saying: “You created a problem that didn’t, and shouldn’t even exist, then turn around to proffer solutions that nobody asked for. The drivers pay toll, parking fees, and taxes already. The companies also pay taxes. Why can’t you just leave them alone? Don’t be stupid, please!”
Another user, Cyn raised questions about FAAN’s motivations, saying: “How are you resolving a problem you created by yourself? These drivers have been operating in and around the airport for years till you people and your greed woke up.”
A user identified as Ex-Nigerian expressed concerns about what seemed like a preferential treatment given to Bolt through the agreement: The user said: “The problem created by your underlings and this sham of an attempt to ‘resolve it’ is Nigerian anyhowness in its full glory. A non-existent problem was created and now in an attempt to ‘solve’ it, you have created a problem for the other e-hailing services who are not under this new ‘agreement’ because I believe you guys putting Bolt inside this memo is not a mistake. At what point do you people not see how your actions affect common people, or you think it’s only rich people that fly?”
A user, Seun Adeola linked FAAN’s actions to the issues of pricing and levies within the airport ecosystem, saying: “There was no problem before you created one. You inflated taxi prices through your extortionate levies on the drivers. Your officials scapegoated regular Uber/Bolt/Indrive drivers because they were competitive on price. You forced us to pay outrageous amounts for 2005 Camry rides.”
Adeolu challenged FAAN’s claim that the fare structure was independent of ACHRAMS saying: “You people are pathetic liars, what do you mean you didn’t set the price and it’s independent of the application? You own the app, you can’t feign ignorance to the fares on the app. Normal hailing rides are charging btw 8-10k from the airport to ikeja while the app is charging 30k.”
Another user, Luqman Lawal offered a suggestion on what should be done saying: “This isn’t solving any problem. E-hailing should operate freely at the airport (there’s a drop-off and pickup section, fgs!). Let me order a ride and get picked up at the car park. Whether I’m using Bolt, Indrive, or Uber should not be FAAN’s headache.”
The overwhelming sentiment expressed across social media platforms was that FAAN had manufactured a crisis to justify the creation of ACHRAMS, had benefited from restricting competition through inflated fares, and that the lifting of the ban, even with the Bolt agreement, did not address the fundamental criticism that e-hailing services should operate freely without government interference or the creation of competing government-backed platforms.
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Julius Berger Nigeria Plc will bring together top government officials, investors, developers, engineers and other business leaders to discuss Lagos’ rapid growth and the infrastructure needed to support it.
The construction company’s Luminary Soirée 2026 is scheduled for September 9 in Lagos, with the theme, “The Lagos Proposition | Unlocking Value in a City in Transformation.”
The forum will examine new investment opportunities emerging as Lagos expands beyond its traditional growth areas, as well as the infrastructure and financing needed to sustain the city’s development.
It will also look at whether Nigeria’s construction and engineering industry has the capacity to deliver projects at the speed, scale and quality required by the growing market.
The event will open with remarks by Julius Berger Nigeria Managing Director, Engr. Dr Peer Lubasch, followed by a keynote address from a senior representative of the Lagos State Government.
A high-level panel, moderated by Arise News anchor Ayo Mairo-Ese, will feature experts in master planning, consulting engineering and institutional real estate.
Discussions will cover the development chain, from land acquisition and urban planning to engineering and the delivery of sustainable, income-generating properties.
Among the issues to be discussed are the emergence of new high-end development areas outside Lagos’ established Island and Mainland markets, government-private sector partnerships in providing infrastructure, housing and investment opportunities for the middle-income population, and ways to improve the quality of construction projects.
Filipe Lopes of Julius Berger’s Strategic Business Development Unit said the event would contribute to discussions on the future of Lagos and Nigeria’s urban development.
“Lagos continues to evolve at an unprecedented pace. New growth corridors are emerging, investment patterns are shifting, and demand is creating opportunities in locations that were not traditionally viewed as focal points for development,” Lopes said.
He said infrastructure and engineering capacity must grow alongside the city.
According to him, the forum would provide an opportunity to identify where long-term value is being created in Lagos and what is needed to support sustainable development on a larger scale.
The Luminary Soirée has become one of Julius Berger’s major stakeholder engagement platforms, bringing together government, business, academia and civil society to discuss challenges and opportunities in Nigeria’s built environment.
The company said the initiative is part of its effort to contribute to policy discussions and promote ideas that can improve the quality, sustainability and long-term impact of development projects in Nigeria.
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