News – Page 40 – Democracy Radio

NLC Raises Alarm Over Alleged Plot to Disrupt National Protest

By Chinedu Echianu The Nigeria Labour Congress (NLC) has raised the alarm over an alleged plot to infiltrate and violently disrupt its planned National Day of Protest and Mourning scheduled for Tuesday, December 17, 2025. In a statement issued by its Acting General Secretary, Benson Upah, the NLC said it has received “credible and disturbing intelligence” indicating that “unscrupulous agencies and desperate political hirelings” are planning to use armed thugs to attack peaceful protesters and create a pretext for repression. […]

December 16, 2025 3

General

CSOs Demand Immediate Ban on GMOs in Nigeria, Cite Health Risks

By Oluwakemi Kindness A coalition of 92 civil society organisations (CSOs) has called on the Nigerian government to immediately implement a House of Representatives resolution suspending the production, use, and consumption of Genetically Modified Organisms (GMOs) pending further investigation. They made the call during a protest at the National Assembly Complex on Tuesday, where the groups demanded an outright ban on GMOs over concerns about their social, economic, health, and environmental impacts. Speaking to journalists in Abuja, Joyce Brown, Programme […]

December 16, 2025

NDIC announces liquidation of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc after CBN revokes their operating licences

Business

NDIC Begins Liquidation of Aso Savings, Union Homes, Following Licence Revocation

By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) has began the liquidation of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of their operating licences by the Central Bank of Nigeria (CBN). In a notice to depositors and the public on Tuesday, the NDIC said it was appointed liquidator of the defunct banks after the CBN withdrew their licences on December 15, 2025, under Section 12(2) of the Banks and Other Financial […]

December 16, 2025

Business

NEZA Commends NEPZA, OGFZA on Call for 10-Year Tax Moratorium

By Oluwakemi Kindness The Nigeria Economic Zones Association (NEZA) has applauded the Managing Directors of the Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA) for advocating a ten-year moratorium on implementing the National Tax Policy (NTA) within Nigeria’s Free Zones. In a statement on Tuesday, NEZA describs the move as timely, saying it aligns with concerns the association raised in its official press release on September 1, 2025. NEZA Executive Secretary Toyin Elegbede […]

December 16, 2025

Business

CBN Revokes Licences of Aso Savings, Others Over Regulatory Breaches

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc over persistent regulatory and capital deficiencies. The apex bank took the action under the powers granted by Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria. In a statement issued on Tuesday, the Acting Director of Corporate Communications […]

December 16, 2025

3

Technology

Nigeria Wastes Innovation Potential Through Poor Coordination — Minister Udeh

By Julian Adetinuyo The Minister of Innovation, Science and Technology, Kingsley Udeh, says Nigeria continues to lose economic value not because it lacks ideas or skilled people, but due to its inability to turn innovation into industries, jobs and competitive products. Udeh made this assertion during a fireside chat organised by the Centre for the Study of the Economies of Africa (CSEA) in Abuja, where he challenged Nigeria to confront a long-standing structural weakness in its development model. He said […]

December 16, 2025 3

Senate President Godswill Akpabio announcing Senate approval for Nigerian troop deployment to Benin during plenary session.

Business

Senate Frowns at Multiple Budgets in a Fiscal year

By Anayo Akwitti The Senate has expressed dis-satisfaction with multiple budgets implementation in a fiscal year by the federal government as experienced in 2025. As a result it has, the Senate has tasked the Federal Inland Revenue Service ( FIRS) to increase its projected revenue target for 2026 from thirty one trillion naira to thirty five trillion naira. Meanwhile the federal government is lamenting a shortfalls of thirty trillion naira from forty trillion naira revenue target for 2025. These revelations […]

December 16, 2025

2

General

Tinubu Reforms Book Committee Inaugurated

By Arinzechi Chukwunonso The Senior Special Assistant to the President on Special Needs and Equal Opportunities, Mohammed Isa, has inaugurated a Technical Working Committee for the launch of a new book documenting key reforms of President Bola Tinubu’s administration. The book, titled “The New Nigeria: Compliment to the Game-Changer,” is an initiative of the International Christian Organisation for Sustainable Development (ICOSD) in partnership with the Office of the SSA. It is dedicated to President Tinubu in alignment with his Renewed […]

December 16, 2025 2

Business

OGFZA Backs 10-Year Tax Exemption for Oil, Gas Free Zone Operators

By Okuwakemi Kindness The Oil and Gas Free Zones Authority (OGFZA) has supported calls for a 10-year exemption for operators in oil and gas free zones from the new tax law. OGFZA Managing Director and CEO, Bamanga Umar-Jada, made the call in Onne, Rivers State, during a town hall meeting with the Federal Inland Revenue Service (FIRS) and OGFZA licensees. Jada said the proposed extension would give operators the needed “adaptation space” to transition and comply with evolving tax requirements. […]

December 15, 2025