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Elon musk becomes the first trillionaire in the world

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Elon Musk has become the world’s first trillionaire on paper following the record-breaking initial public offering of SpaceX, which was priced at $135 per share and raised about $75 billion. The listing values SpaceX at approximately $1.77 trillion, making it one of the world’s most valuable publicly traded companies and surpassing Saudi Aramco’s 2019 listing as the largest IPO in history. According to the company’s prospectus, Musk will own about 849.5 million Class A shares and 5.57 billion Class B shares after the offering, giving him 84.4 per cent of the company’s voting power. At the IPO price, his SpaceX stake is valued at roughly $866.5 billion. Combined with his estimated 717.1 million Tesla shares, worth about $286.2 billion based on recent market prices, Musk’s holdings are valued at around $1.1 trillion on paper. However, the milestone remains largely theoretical, as it depends on SpaceX maintaining its valuation after trading begins and Tesla’s share price remai...
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NIS, NEMA RECEIVES 258 NIGERIAN RETURNEES EVACUATED FROM SOUTH AFRICA

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The Federal Government of Nigeria has received the first batch of 258 Nigerian returnees evacuated from the Republic of South Africa under an ongoing voluntary repatriation programme facilitated by the Federal Government. The returnees arrived at the Cargo Terminal of the Murtala Muhammed International Airport, Ikeja, Lagos, on Thursday, June 11, 2026, at approximately 10:35 a.m. aboard an Air Peace aircraft from O.R. Tambo International Airport, Johannesburg. The reception exercise was jointly coordinated by NEMA and relevant government agencies, including the Nigeria Immigration Service (NIS), Nigerians in Diaspora Commission (NiDCOM), Federal Airports Authority of Nigeria (FAAN), and the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), to facilitate the smooth reception and processing of the returnees. Upon arrival, the returnees, comprising men, women, and children, underwent profiling, documentation, and medical screening as part of...
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BREAKING: Panic As President Tinubu Recognises NDC Publicity Secretary for His Sacrifice

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President Bola Ahmed Tinubu has conferred national honours on a group of prominent Nigerians in recognition of their contributions to the country’s democratic development, with the Publicity Secretary of the Nigeria Democratic Congress (NDC), Osa Director, among the recipients. The honours were announced on Friday during the 2026 Democracy Day celebration, where the President paid tribute to individuals who played key roles in Nigeria’s pro-democracy struggle and the eventual return to civilian rule. According to the President, the awardees were recognised for their courage, sacrifice, and commitment to democratic governance, noting that many of them endured persecution, imprisonment, exile, and various forms of intimidation during the military era while advocating for democratic freedoms.  Osa Director, who serves as the NDC Publicity Secretary, was listed among about 50 Nigerians honoured for their contributions to sustaining democratic ideals in the country. The reci...
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No Access Yet: Oyo Govt Bans Vehicular Movement, Cattle Rearing, Other Activities Along Ibadan Circular Road Corridor

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The Oyo State New Towns and Cities Development Authority (OYNTCDA) has announced a ban on several activities along the Ibadan Circular Road corridor as part of efforts to safeguard the ongoing infrastructure project and ensure public safety. The Authority stated that vehicular movement, cattle rearing, soil excavation, and illegal parking are strictly prohibited within the Circular Road corridor pending the official commissioning of the project by the Oyo State Government. OYNTCDA also disclosed that it has intensified enforcement operations against the illegal use of the road and its corridor, leading to the arrest of some violators. According to the Authority, the enforcement exercise became necessary following reports and complaints that some individuals had been making use of the road despite the fact that it has not yet been officially opened to the public. Speaking in Ibadan on Thursday, the Executive Adviser and Director-General of OYNTCDA, Mrs. Mofoluke...
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REPS PASS STATE POLICE BILL

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The House of Representatives has passed the state police bill, effectively making way for the decentralisation of the Nigerian policing architecture. The resolution followed the voting by 289 lawmakers in favour of state police during today’s plenary session presided over by the Speaker, Tajudeen Abbas. It will be recalled that the House committed today’s plenary to voting on the State Police Bill following the spike in killings, kidnappings, and banditry in the past few months. The session was not without its fair share of drama, as shortly after the lawmakers settled down for the business of the day, Kaduna lawmaker, Bashir Zubairu, moved a point of order, explaining that the document on the proposed state police put together by the House Committee on Constitution Review got to the lawmakers only this afternoon. Zubairu, a member of the African Democratic Congress, was ruled out of order, allowing the process to proceed.
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EFCC, INEC Forge Alliance to Curb Vote Buying Ahead of 2027 Elections

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The Economic and Financial Crimes Commission (EFCC) and the Independent National Electoral Commission (INEC) have agreed to strengthen collaboration aimed at ensuring a more credible and transparent electoral process ahead of the 2027 general elections . The understanding was reached on Tuesday when the Edo State Resident Electoral Commissioner, REC, Obo Etfanga, paid a courtesy visit to the Benin Zonal Directorate of the EFCC. The REC, who was recently deployed to Edo State, said he sought to engage with critical stakeholders including law enforcement agencies ahead of the 2027 general election, and to explore areas of further collaboration. He noted that the EFCC has consistently played a significant role in curtailing vote buying during elections. In a related development, the leadership of the Chartered Institute of Bankers of Nigeria, CIBN, also paid a courtesy visit to the Benin Zonal Directorate of the Commission. The Chairman of the Institute's Edo State Branch,...
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SBT: Why Nigeria’s Reps should reject additional tax on non-alcoholic drinks – CPPE

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The Centre for the Promotion of Private Enterprise has explained why Nigeria’s House of Representatives should reject the Sugar-Sweetened Beverage Tax (non-alcoholic drinks) bill’s passage.  CPPE Chief Executive Officer Dr Muda Yusuf, in a statement at the weekend, said the bill, if passed by the Green Chamber, would worsen the cost of production across the value chain.  According to him, an additional tax on manufacturers, by extension on Nigerians despite harsh economic realities, is insensitive and ill-timed.  The economic think tank said the legislature by the National Assembly counters the President Bola Ahmed Tinubu’s stance on easing doing business in the country.  “The bill is ill-timed, insensitive to prevailing economic realities, and inconsistent with the federal government’s commitment to reducing the tax burden on businesses.  “Any additional tax burden on the industry would inevitably increase production costs, raise consumer prices, we...
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