Over the last few months, the news of Anant Ambani, the youngest son of Reliance Industries chairman Mukesh Ambani, marrying Radhika Merchant, daughter of Viren A. Merchant, has been nearly impossible to miss. The grand wedding celebrations took place from July 12 to 14 at Mumbai’s Jio World Convention Center, captivating the nation with its opulence and the attendance of numerous celebrities and prominent figures. The wedding rituals, which included the couple exchanging garlands and walking around the sacred fire, began on Friday and continued past midnight. A lavish wedding party In the aftermath of the lavish celebration, reports have…
Author: Temitope N.
Tuition fees for international Bachelor’s and Master’s degree students in two universities in Switzerland will now increase threefold This was announced by the Swiss Federal Council and is set to be implemented starting in the fall semester of 2025. The universities which will implement these fee increments are the Federal Institutes of Technology in Zurich and Lausanne (ETH Zurich and EPFL). The InfostrideNews learns that currently, both Swiss and international students pay CHF 730 (€749.42) per semester at ETH Zurich and EPFL. In some Swiss universities, fees already differ for local and international students. For instance, at the University of St.…
The Federal Government has secured an agreement with the United Arab Emirates (UAE), permitting Nigerian passport holders to obtain visas for travel to the UAE starting today, July 15, 2024. Minister of Information and National Orientation, Mohammed Idris, announced on his official X (formerly Twitter) handle on Monday that the UAE has lifted the visa ban on Nigerian passport holders. The Minister stated that this resumption of travel follows successful talks and extensive negotiations between the UAE and Nigeria, resulting in updated controls and conditions for obtaining a UAE visa. “Following successful talks and extensive, mutually beneficial negotiations between the…
The Joe Biden administration has announced new steps to speed up employment-based nonimmigrant visas for US college graduates with job offers. This move aims to help the US economy and keep skilled workers, which is part of efforts to make immigration processes easier and attract top talent to the US. The administration intends to simplify current procedures to expedite the issuance of these visas to recent graduates. The US Department of State will issue new guidelines by July 18, detailing when consular officers should recommend that the Department of Homeland Security (DHS) grant a waiver of ineligibility. These waivers are crucial for…
Nollywood’s latest release, “What About Us,” has made a significant impact at the Nigerian box office, grossing N24.6 million in its first three days. Premiering on July 12, 2024, the film marks the executive producer debut for Emmanuel Iren, the lead Pastor of Celebration Church International. According to Filmoneng, the movie’s distribution company, “What About Us” is the highest-grossing film during the weekend of July 12-14, 2024. While Emmanuel Iren serves as the executive producer and is credited with the story, the screenplay was penned by Ife Olujuyigbe and the film was directed by Kayode Kasum. Bisola Badejo and Tochukwu…
The Nigeria Customs Service (NCS) generated N1.02 trillion at its Apapa Area Command in the first half of the year marking an increase of 143% compared to the same period last year. This was disclosed by the Customs Area Controller, Apapa Command, Babatunde Olomu, during a news conference in Lagos on Monday. He noted that this figure represents a 143% increase compared to the N421.38 billion generated in the same period in 2023. He noted that the command generated the amount despite a sharp reduction in trade volume. Olomu emphasized that the agency’s efforts to promote and facilitate trade are…
The Ford Foundation has revealed that for 2024, it earmarked $6.5 million to enable the Independent Corrupt Practices and Other Related Offences Commission(ICPC), Non-Governmental Organizations (NGOs) and others, prevent gender-based violence(GBV) including sexual harassment in Nigerian tertiary institutions, schools and workplace. Dabesaki Mac-Ikemenjima, Ford Foundation’s senior Program Officer, disclosed this in an exclusive interview with Nairametrics on Tuesday. He made the disclosure on the sidelines of the National Stakeholder Engagement on Sexual Harassment Prevention in Tertiary Institutions, organized by the ICPC and Gender Mobile Initiative. Ford Foundation’s support against GBV in Nigeria Mac-Ikemenjima, in an exclusive interview with Nairametrics, said…
On May 30, 2024, the Financial Reporting Council of Nigeria (FRCN) unveiled the SME Corporate Governance Guidelines 2023 (“The Guidelines”), a significant milestone aimed at bolstering the governance framework for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. Given that MSMEs constitute 96% of all businesses in Nigeria, account for 84% of national employment, and represent 48% of Nigeria’s GDP, the Guidelines are poised to make a substantial impact on the country’s economic landscape. This review delves into the key provisions within the Guidelines, examining their implications and offering practical steps for Nigerian SMEs to implement them. The Objectives and…
The Supreme Court of Nigeria has ruled that the 774 local government areas (LGAs) be given full financial autonomy across the federation. A seven-man panel of Supreme Court Justices led by Justice Garba Lawal delivered the ruling on Thursday, July 11, 2024. The apex court initially heard the suit between the federal and state governments on the autonomy of local governments on June 13 and reserved its judgment. The suit, marked SC/CV/343/2024, was filed by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), and sought full autonomy and direct fund allocation to the 774 local…
The Court of Appeal sitting in Abuja has upheld the election of Usman Ododo as the Governor of Kogi state. The appellate court on Thursday backed the verdict of the Kogi State Governorship Election Petition Tribunal sitting in Abuja which had affirmed Ododo’s election victory. The tribunal had dismissed the petition filed by the Social Democratic Party (SDP) and its governorship candidate, Murtala Ajaka. Legal disputes Nairametrics previously reported that the Independent National Electoral Commission (INEC) had declared the candidate of the All Progressive Congress (APC), Usman Ododo, as the winner of the keenly contested November 11, 2023 Kogi State…
The President of the National Labour Congress (NLC), Joe Ajaero, has reaffirmed the position of the organized labour of N250,000 minimum wage demand following a meeting with President Bola Tinubu. Ajaero, who spoke to newsmen following a close-door meeting between the president and members of the organized labour, said the status quo has not changed when it comes to their demand for a new minimum wage. He further hinted at a subsequent meeting with the president in the nearest future, adding that negotiation is still ongoing. We did not go into the naira and kobo with the president. The status…
On February 14, 2024, Nollywood’s romantic comedy All’s Fair in Love premiered in cinemas, amassing an impressive N7.6 million in ticket sales on its opening day. Despite the genre’s relatively modest popularity, the film continued to attract audiences, earning N10.4 million during its advanced screening just two days later. A statement obtained by Nairametrics highlighted the film’s achievement: it became “the highest-grossing rom-com movie, earning over N10.4 million in just two days.” This marked Deyemi Okanlawon’s debut as a film producer. Released during the typically slow February Valentine’s season, the film’s success defied expectations. Historically, films released during this period were projected to…
The Senate on Thursday rejected a bill seeking to amend the Foreign Exchange Act of 2004 to introduce provisions for the control, monitoring, and supervision of transactions in the Foreign Exchange Market according to reports from the News Agency of Nigeria (NAN). The bill, titled “The Foreign Exchange (Control and Monitoring) Bill, 2024 (SB. 353),” was sponsored by Sani Musa (APC-Niger), Chairman of the Senate Committee on Finance, and was first read on Tuesday, February 20. In his lead debate, Musa described the bill as crucial legislation intended to repeal the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap. F34, Laws of…
Nigeria ranks as the 4th largest source country for study permits to Canada according to reports, which is a recent update on the economic impact of international education in Canada. Study permits from Nigeria, India, Phillipines, Hong Kong and Colombia combined contributed $30.9 billion to Canada’s GDP in 2022, amounting to 1.2% of Canada’s GDP for that year. The report, which includes both long-term students at schools, colleges, and universities, as well as short-term students, highlights that international education “plays an important role in the globalization of [the Canadian] economy, allowing it to thrive in a fast-changing and competitive environment.” The report…
President Bola Tinubu recently proposed the idea of adjusting wages at shorter intervals of two or three years, instead of every five years. He said this while expressing his concern for the welfare of Nigerian workers, whilst calling for realistic expectations regarding the minimum wage. This was shared at a meeting with Members of organized labour on the new minimum wage at the State House, which had in attendance, the Secretary to the Government of the Federation, some ministers, heads of agencies, and aides to the president. The meeting followed the president’s decision to engage more with stakeholders before making a definite…
Spotify, the global music streaming giant, has announced that Nigerian music sensations Ayra Starr and Tems are the most streamed Nigerian artists globally for the first half of 2024. Phiona Okumu, Spotify’s Head of Music for Sub-Saharan Africa, revealed the rankings during an announcement in Lagos. The top 30 artists with the highest global streaming numbers were highlighted in Spotify’s Global Impact List for 2024, the News Agency of Nigeria first reported. Ayra Starr and Rauw Alejandro’s “Santa” topped the list, while Ayra Starr’s “Comma” secured the second spot. Tems’ “Love Me Jeje” followed closely in third place. Other notable…
The Nollywood movie “Muri and Ko” has recorded grossing over N100 million from ticket sales at the Nigerian box office. This milestone, reported by Filmoneng, a leading West African distribution company, was achieved as of Monday, June 8, 2024. Released on June 12, 2024, “Muri and Ko” generated N50 million in its first week, showcasing its immense popularity and strong audience reception. Within three weeks, the film had amassed N89 million, reflecting its continued success and widespread appeal. The star-studded cast includes Kunle Remi, Bisola Aiyeola, and Bukunmi Adeaga-Ilori (Kiekie). Joining them are Femi Jacobs, Buchi Franklin, Charles Okocha, Gloria…
The Corporate Affairs Commission (CAC) has asked the 4,173 Bureau De Change companies whose licences were recently revoked by the Central Bank of Nigeria (CBN) to change their names within three months. The Commission in a notice issued on Wednesday said their failure to change the names with which they were registered as companies would result in the cancellation of their certificate of incorporation and dissolution. While urging shareholders and directors of the companies to take action, the CAC said details of the affected companies have also been published on its website for them to re-confirm. What the Commission is…
Nollywood indigenous film Lakatabu has garnered an estimated N126.4 million at Nigerian cinemas in under four weeks, reflecting the growing appetite for local productions among cinema-goers. This was announced by Filmoneng, a leading West African movie distribution company known for its success with blockbuster titles like ‘A Tribe Called Judah’ and ‘Omoghetto The Saga’. According to the company’s recent statement, Lakatabu, which premiered on June 21, 2024, has quickly become one of the year’s most successful Nollywood films. Lakatabu stars Odunlade Adekola, one of Nigeria’s highest-grossing actors of 2023. His star power undoubtedly contributed to the film’s robust performance at the box office. Data…
Health-related expenses push over one million Nigerians into poverty every year, according to the World Bank’s Human Capital Public Expenditure and Institutional Review. The report provides an analysis of the financing and governance constraints affecting the delivery of basic education and primary health care in Nigeria. According to the report, Nigeria ranks poorly in Universal Health Coverage (UHC) within Africa, with an index score of 44. Despite some progress, Nigeria’s UHC remains among the lowest on the continent, reflecting the limited coverage of essential health services. The report read: “Nigeria ranks near the bottom in Africa in Universal Health Coverage.…