Bank recapitalisation may not lead to higher GDP – Report
The Proshare Bank Strength Index evaluates banks using a pool of financial metrics based on audited financial statements for the Financial Year 2023. In the report, it named Access Corp, Zenith Bank, FBNH, ETI, UBA, and GTCO as Tier-1 banks in 2024, reinforcing the Afrinvest-inspired concept of FUGAZE. In early June, the Central Bank of Nigeria revealed that banks had started to submit their recapitalisation plans. However, the Proshare report read in part, “Policymakers have associated big banks with larger economies and faster-growing gross domestic products, but the assumption is unproven. However, between 2000 and 2005, bank equity sizes grew over ten times or by 1,150% from N2bn to N25bn.
Source:Punch
July 04, 2024 02:15 UTC
121 killed in stampede at India religious gathering
India’s deadliest stampede in over a decade left 121 people dead at a vastly overcrowded Hindu religious gathering. A police report said more than 250,000 people attended the event in northern India’s Uttar Pradesh state, more than triple the 80,000 organisers had permission for. Chaitra V., divisional commissioner of Aligarh city in Uttar Pradesh state, initially said panic began when “attendees were exiting the venue when a dust storm blinded their vision, leading to a melee”. Religious gatherings in India have a grim track record of deadly incidents caused by poor crowd management and safety lapses. In 2008, 224 pilgrims were killed and more than 400 were injured in a stampede at a hilltop temple in the northern city of Jodhpur.
Source:Nigerian Tribune
July 03, 2024 21:18 UTC
Aruna returns for $250,000 WTT Star Contender Bangkok
After missing the WTT Contender events in Lagos and Tunis last month, Quadri Aruna is back in action at the WTT Star Contender Bangkok 2024 in Thailand. Aruna stands out as the sole African star competing against a star-studded line-up in Bangkok Ta king place at the Huamark Indoor Stadium. Having missed the 2023 edition of the Lagos event, he was scheduled to compete at the second edition of the Lagos event, which was held at the Molade Okoya-Thoma Hall at the Teslim Balogun Stadium, Surulere, Lagos, but he withdrew days before the tournament. “He (Aruna Quadri) has been advised not to participate in WTT Contender Lagos, but the physio as a precautionary measure to avoid injury due to his body,” Mr. Oshodi said. Ly’s 2024 journey includes his WTT Champions debut, and he has continued his ascent in the rankings.
Source:Punch
July 03, 2024 19:47 UTC
NIMC database secure
The Director, Nigeria Police Force National Cybercrime Center, Uche Henry has assured that the National Identity Management Commission’s database is secure. Henry’s assurance is coming following concerns about the security of the commission’s database. Uche in a statement by the centre on Wednesday said the NPF-NCCC following the speculation swiftly conducted a forensic analysis on the database and found out that it was secure. Our forensic analysis confirmed that the database is indeed secure,” Uche was quoted as saying. Uche although said NIMC has a strong cyber security, he noted that his centre was ready to help strengthen the commission’s security.
Source:Punch
July 03, 2024 18:58 UTC
VIDEO: Police arrest miscreants extorting Lagosians using makeshift bridge at Tradefair
Commissioner, Ministry of the Environment and Water Resources, Lagos State, Tokunbo Wahab, has announced that police have arrested miscreants who were charging people for using the makeshift crossover bridge at the Trade fair. Tokunbo stated this on his X account following a complaint by citizens that they were extorted on the morning of Wednesday, 3 June 2024, due to heavy downpours in the area. Tokunbo writes:”Following a complaint made by @ARISE0214 , miscreants charging people for using the makeshift crossover bridge at Tradefair this morning have been arrested by the operatives of Lagos State Environmental Sanitation Corps @LAGESCOfficial . They will be prosecuted according to the law.”Watch video below:
Source:Nigerian Tribune
July 03, 2024 18:35 UTC
Lagos Flash Flood: One dead, seven rescued as building collapses at Mushin
As a result of the flash flood in Lagos, a building collapsed on Cameroon Road in the Mushin area of Lagos, leading to the death of a child and leaving seven others injured. According to reports gathered from our correspondent, the collapse occurred due to heavy rainfall experienced across the state early on Wednesday, July 3. ALSO READ:VIDEO: Force PRO condemns police officers’ assault of unidentified man in LagosAt the time of reporting, residents stated that the Lagos rescue team had not yet responded to emergencyDetails Shortly
Source:Nigerian Tribune
July 03, 2024 17:49 UTC
Why so many Australian homes are either too hot or too cold
But chances are the reason you’re cold is not only due to a polar air mass sweeping the country, but because millions of Australian homes aren’t well insulated. Experts estimate more than 70% of Australian homes were built before 2003. Australian homes are so poorly insulated that some experts compare them to tents. Research has found that Australia’s energy standards are about 55% worse than comparable countries and climate zones. Many homes will have been renovated since 2003, but experts say most renovations will still be below the current new housing standards.
Source:The Guardian
July 03, 2024 03:42 UTC
Imo Assembly suspends four members over impeachment plot
The Speaker of Imo State House of Assembly, Chike Olemgbe, on Tuesday, announced the suspension of four members for an alleged plot to impeach the speaker. The suspended lawmakers included Ahiazu-Mbaise, Samuel Otuibe; Ezinihitte-Mbaise, Henry Agbasonu; Okigwe, Chidiebere Ogbunikpa and Oru-West, Dominic Ezerioha. The Speaker said the decision to suspend them was taken at the executive session. The Speaker also announced that all standing Committees belonging to the suspended members have been retrieved from them. Some of the suspended members present during the announcement declined to speak to newsmen.
Source:Punch
July 02, 2024 22:54 UTC
From sun and sand to slots and sports: Popular casino games
In this article, we’ll take a journey through some of the most popular casino games enjoyed across the continent. So, grab your virtual chips and let’s discover top casino games online and on land in Africa! Luxurious Land-Based CasinosAfrica boasts some luxurious land-based casinos that rival those found in Las Vegas or Monte Carlo. Popular Casino Games in AfricaSlots: The Reigning ChampionSpin to WinSlots are undoubtedly the most popular casino games in Africa. Online Slots: Convenience at Your FingertipsThe convenience of online slots has further fueled their popularity.
Source:The Guardian
July 02, 2024 18:55 UTC
Fake news on IGP tenure elongation disturbing — Police
READ ALSO: Call your men to order, lawyers tell IGPThe amendment seeks to extend the years of service for police officers from 35 to 40 years. Allegations against IGP EgbetokunAccording to him, the misleading publications alleged that IGP Kayode Egbetokun personally initiated this bill to prolong his tenure as the 22nd indigenous Inspector General, and has allegedly invested significantly in lobbying lawmakers to facilitate its passage. “To understand the true motivations behind this initiative, one need only look at the Inspector-General’s steadfast commitment to reforming the Nigeria Police Force. “Furthermore, it is important to note that the tenure of an Inspector General of Police is already prescribed as four years, with the President being the sole authority empowered to remove an IGP before the completion of his tenure. “Such misinformation not only misleads but also detracts from constructive dialogue and efforts towards meaningful police reform.
Source:The Guardian
July 02, 2024 14:38 UTC
India-bound drug trafficker bags 25 years imprisonment
Ogbonna was arrested on 31st March while attempting to board his flight to Delhi, India via Doha on Qatar Airways, with a Liberian international passport, bearing the name, Carr Bismark. Preliminary checks revealed his real identity as Freeman Charles Ogbonna and was subsequently placed under observation in NDLEA custody where he started to manifest signs of discomfort. The suspect who claimed he was recruited into drug trafficking by one of his relatives eventually passed out a total of 80 wraps of cocaine weighing 889 grams through his mouth and anus over four days. Delivering his judgement on the case on Monday, Justice Dipeolu sentenced Ogbonna to 25 years in prison without an option of fine. He said Ogbonna’s conviction will further send a strong signal to his ilk that there will be no hiding place for drug barons and their mules.
Source:Nigerian Tribune
July 02, 2024 13:16 UTC
Trump has immunity for official acts, US Supreme Court rules
Justice Sonia Sotomayor issued a lengthy and strongly worded dissent in which she excoriated the court for its decision. At least with respect to the President’s exercise of his core constitutional powers, this immunity must be absolute.”“The President enjoys no immunity for his unofficial acts, and not everything the President does is official. The chief justice said the trial court will have to assess what of Trump’s alleged conduct is immunized under the new test handed down by the high court, and the opinion said that additional briefing will be needed for the trial court to do so. Justice Amy Coney Barrett expressed frustration with how the court was sending the case back down for more proceedings. “A President facing prosecution may challenge the constitutionality of a criminal statute as applied to official acts alleged in the indictment,” Barrett wrote.
Source:Nigerian Tribune
July 02, 2024 11:44 UTC
Three injured in Abuja building collapse
No fewer than three persons were injured in a building that collapsed in the Federal Capital Territory on Monday. Many people working on the structure were said to have been trapped in the building when it caved in around 8:40 pm on Monday. The report read, “The three people injured have been taken to Hospital. “It’s an old four-storey building undergoing restructuring and renovation. “Three victims were successfully evacuated from the collapsed building and rushed to the hospital for medical care.
Source:Punch
July 02, 2024 08:47 UTC
Tata Punch Petrol vs CNG: July 2024 Price, Mileage & Cost Analysis
Tata Punch Petrol Vs CNG - Price ComparisonLet’s look at the latest ex-showroom prices of the Tata Punch petrol and CNG to see what extra cost you’re paying for the Punch CNG over the Punch petrol. TATA PUNCH PETROL VS CNG PRICES EX-SHOWROOM DELHI (JULY 2024) Variants Petrol Prices Difference CNG Prices Pure Manual Rs. Tata Punch Petrol Vs CNG - Running Cost Calculation - July 2024Now, let’s compare the per kilometre fuel cost you’ll incur with both the engine options. TATA PUNCH COST PER KM (JULY 2024) Petrol Difference CNG Fuel Price Delhi Rs. So, for customers who might drive the Punch CNG for about 40,000km to 70,000km, the Tata Punch CNG makes good financial sense.
Source:Punch
July 02, 2024 05:51 UTC
How the Tories pushed universities to the brink of disaster
As many academics have warned, the funding system of higher education is heading towards disaster. Political insistence that higher education must operate like a market has led to many of the worst pathologies of market societies. For those who insist that higher education is a public good in an ethical sense, the original Willetts plan was always an abomination. The divide that the Brexit referendum exposed running down the middle of British society was, as much as anything, about higher education. Hilariously, the government’s recent Augar review of higher education funding took universities to task for spending too much money on marketing.
Source:The Guardian
July 02, 2024 04:24 UTC