Sanwo-Olu Signs N3.36 Trillion 2025 Appropriation Bill into Law Assures Lagosians of 95% performance Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu, yesterday signed the
State's 2025 appropriation bill of N3.36 trillion into law. The Lagos State House of Assembly had jerked up the N3.005
trillion 2025 budget proposal by over N300 billion to N3,366,815,224,144 before its passage. Sanwo-Olu, had on November
21, 2024, presented the appropriation bill of over N3 trillion for 2025 before members the State House of Assembly for consideration and
approval. The Governor, during the presentation, had told the lawmakers that the budget has a deficit financing
of N408,902 billion adding that the deficit would be financed Continued on page 9
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Insecurity: Nigeria Opposes Use of Foreign Mercenaries to Battle Insurgency, Banditry... Page 5
Concerns Mount over Geregu, FirstBank Share Prices, Financial Statements Kayode Tokede
Some stock market analysts have expressed concerns over the market
capitalisation and share price movement of Geregu Power as well as that of FBN Holdings Plc, which are both listed on the Nigerian
Exchange Limited (NGX). Precisely, in comparing Geregu Power’s share price performance with that of telecoms giant, MTN
Nigeria Communications Plc, they pointed out that while the market capitalisation for MTN hit about N4.5 trillion last year, that of Geregu
Power surged to N2.9 trillion as at December 6, last year. Curiously, in its financial statement for 2023, the turnover for
MTN was N2.472 trillion, whereas Geregu recorded a turnover of Continued on page 9
Court Restrains First Bank over GHL: Otedola, Others Face Arrest Oil firm to sue for $1 billion damages over bank's alleged breach of contract More shareholders oppose bank's private placement Emmanuel Addeh in Abuja and Nume Ekeghe in Lagos
More facts have emerged concerning the alleged failure of the First Bank of Nigeria (FBN) to fulfil its part of a deal to fund the exploration and development of Oil Mining Lease (OML) 120, contrary to the agreement it had with the management of General Hydrocarbons Limited (GHL). Also, the Chairman of First Bank
Holdings, may face arrest for contempt of a Federal High Court, Lagos Judicial Division and for flouting an order restraining the bank from taking any steps to enforce any security, receivables, instruments or finance documents or assets of GHL. “An order is granted, restraining the Respond either by itself or acting through its servants, agents assigns, Continued on page 9
2025 Budget: Drama in Senate as Finance Minister Demands Closed TINUBU RECEIVES CHINESE FOREIGN MINISTER... foreign affairs Minister, Mr Wang Yi (L) being welcomed by President Bola Ahmed Tinubu during the official visit of Mr. Wang Yi to the Session with Lawmakers... Page 6 Chinese Presidential Villa Abuja..... yesterday