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EFCC Arraigns Two Businessmen Over N1.55 Billion Fraud, Illegal Forex Operations
The Economic and Financial Crimes Commission (EFCC) has arraigned two businessmen, Dr. Fagite Oladipo and Raymond Akintayo, before the Federal High Court in Lagos over allegations of conspiracy, fraud, and unlawful conversion of N1.55 billion. The funds were reportedly obtained from Ocean Lord Limited, under the pretense of holding a legitimate foreign exchange licence, which
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Oil Prices Rise After Ukrainian Attacks on Russian Infrastructure, Peace Talks Stall
Oil Prices Firm Amid Ukraine Strikes and Geopolitical Tensions December 4, 2025 – New Delhi – Oil prices edged higher on Thursday following Ukrainian attacks on Russia’s oil infrastructure, signaling potential supply disruptions, while stalled peace talks limited expectations of a near-term resolution. Brent crude rose 41 cents (0.65%) to $63.08 per barrel, while U.S.
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ExxonMobil to Permanently Shut One Steam Cracker on Singapore’s Jurong Island
ExxonMobil Plans Permanent Shutdown of Steam Cracker Singapore, December 4, 2025 – ExxonMobil (XOM) is set to permanently shut down operations at the older of its two steam crackers on Jurong Island, Singapore, starting in March 2026, according to multiple sources familiar with the matter. The closure is expected to be completed by June 2026
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Abia Villagers Protest with Councillor’s Wife’s Corpse Over Police Detention
Villagers in Ikwuano LGA, Abia State, staged a dramatic protest at the Anti-Cult Police Unit in Olokoro, carrying the lifeless body of Mrs. Williams, wife of Ejike Williams, the Leader of the Ikwuano Legislative Council. Mrs. Williams, who had given birth just nine days ago, reportedly collapsed and died while her husband and three other
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CIBC Quarterly Profit Rises on Strong Capital Markets Performance
CIBC Reports Higher Quarterly Profit Toronto, December 4, 2025 – The Canadian Imperial Bank of Commerce (CIBC) reported a strong rise in fourth-quarter profits, led by its capital markets division. The bank’s results reflect resilience amid ongoing market volatility and growing activity in trading and investment banking services. The adjusted net income for the quarter
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India Encourages States to Lead Clean Energy Expansion Amid Federal Power Glut
India Supports State-Led Clean Energy Initiatives New Delhi, December 4, 2025 – India’s federal government has confirmed that states will continue to lead the expansion of clean energy projects, even as federal agencies struggle with nearly 50 gigawatts (GW) of unsold renewable power. At a recent Confederation of Indian Industry (CII) event, Santosh Kumar Sarangi,
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APC Chieftain Praises Former Defence Minister Badaru
A senior APC leader in Jigawa State, Auwalu Gumel, has commended Mohammed Badaru Abubakar, Nigeria’s immediate past Minister of Defence, for his efforts in tackling insecurity during his tenure. Gumel noted that: Badaru resigned recently and was replaced by former Chief of Defence Staff, General Christopher Musa, who was screened and confirmed by the Senate
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Italy Eyes Germany, Australia, and Other Nations for GCAP Fighter Jet Programme Expansion
Italy Explores Broader Participation in GCAP Programme Rome, December 4, 2025 – Italy’s Defence Minister Guido Crosetto announced that countries such as Germany, Australia, Saudi Arabia, and Canada may express interest in joining the Global Combat Air Programme (GCAP) in the future. Currently, the GCAP initiative involves Italy, Britain, and Japan, and is focused on
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China’s State-Owned Banks Buy Dollars to Moderate Yuan Gains
China’s State Banks Intervene to Smooth Yuan Strength December 4, 2025 – Major Chinese state-owned banks have been purchasing U.S. dollars in the onshore spot market in a concerted effort to rein in yuan gains, according to sources with direct knowledge of the matter. The intervention comes as the yuan reached a 14-month high earlier
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INEC Chairman Urges Zero Tolerance for Corruption in Staff Cooperative
Prof. Joash Amupitan, Chairman of the Independent National Electoral Commission (INEC), has called on the leadership of the Commission’s Staff Multi-Purpose Co-Operative Society to uphold transparency, accountability, and integrity in managing members’ funds. Speaking at the society’s Annual General Meeting and Election, Amupitan stressed that: He reminded the leadership that the cooperative’s core purpose is
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