politics
The 37-year-old poverty alleviation minister denied any wrongdoing when she was suspended in January.GETTY IMAGES Nigeria Recovers 30 Billion Naira in Corruption Probe, Over 50 Bank Accounts Traced In an ongoing corruption investigation, Nigeria has reclaimed 30 billion naira ($24 million; £19 million), which was found across more than 50 bank accounts, according to […]
Nigeria’s Central Bank Intensifies Efforts to Boost Foreign Exchange Liquidity, Mandates Banks to Halt Forex-Backed Loans within 90 Days In an ongoing bid to bolster foreign exchange liquidity within the economy, the Central Bank of Nigeria (CBN) issued a new directive on Monday instructing Deposit Money Banks to cease accepting foreign currencies as collateral for […]
Governor Obaseki praised the removal of Mr. Shaibu from office, asserting that the state assembly fulfilled its constitutional duty of ensuring checks and balances. Governor Godwin Obaseki of Edo State has commended the removal of his former deputy, Philip Shaibu, from office, stating that the state House of Assembly fulfilled its constitutional obligation of providing […]
Breaking: Court remands Binance executive in prison custody over money laundering Federal High Court Detains Binance Executive, Tigran Gambaryan, in Kuje Prison Tigran Gambaryan, a top official of Binance Holdings Limited, was remanded in Kuje prison by the Federal High Court sitting in Abuja on Monday. Trial Justice Emeka Nwite ordered his detention after Gambaryan […]
Breaking News: Emefiele Remanded in EFCC Custody for Alleged Abuse of Office A former Governor of the Central Bank of Nigeria, Godwin Emefiele, was remanded in the custody of the Economic and Financial Crimes Commission (EFCC) by a Lagos State Special Offences Court sitting in Ikeja on Monday. This followed his arraignment for alleged abuse […]
Anger flared this week as Nigerians took to the streets to protest a staggering 240% increase in electricity tariffs imposed by the Federal Government. Meanwhile, the Debt Management Office remains under scrutiny as several state governors challenge its debt report, claiming inaccuracies. In another development, the impeachment proceedings against Philip Shaibu, the Deputy Governor of […]
Edo State Deputy Governor, Philip Shaibu The seven-member panel, headed by retired Justice S.A. Omonuwa and appointed by Edo State’s Chief Judge, Justice Daniel Okungbowa, opted on Wednesday to proceed with its investigation into allegations of gross misconduct against Deputy Governor Philip Shaibu. Despite objections raised by Shaibu’s counsel, Prof Oladoyin Awoyale (SAN), citing an […]
President Bola Tinubu President Bola Tinubu, on Wednesday, officially enacted the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. The bill had undergone thorough consideration by both the Senate and the House of Representatives, based on the report of the Committee on Tertiary Institutions and TETFund. In his remarks after signing […]
Federal Government Plans to End Electricity Subsidy for 15% of Consumers The Federal Government has unveiled intentions to eliminate electricity subsidies for 15% of consumers, aiming to trim its hefty N3.3 trillion expenditure and save approximately N1.1 trillion annually. This announcement was made by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, to […]
Today, Tuesday, the Naira experienced an upturn, reaching N1,270 per dollar in the parallel market, marking a favorable shift from last week Thursday’s N1,290 per dollar. Likewise, in the NAFEM, the Naira saw an increase to N1,278.58 per dollar. According to data from FMDQ, the indicative exchange rate for NAFEM dropped to N1,278.58 per […]
“In efforts to close Nigeria’s energy access gap, Kyari highlights NNPC Ltd’s commitment to developing essential infrastructure for oil and gas delivery, aimed at fostering prosperity for Nigerians.” Nigerian National Petroleum Company Limited (NNPCL) logo The Nigerian National Petroleum Company Limited (NNPC Ltd) underscores the pivotal role of addressing the energy access deficit in fostering […]
Britain’s King Charles III waves as he leaves St. George’s Chapel, in Windsor Castle, after attending the Easter Mattins Service, on March 31, 2024. (Photo by Hollie Adams / POOL / AFP) King Charles III, amidst his battle with cancer, made a notable appearance at an Easter church service on Sunday, accompanied by Queen Camilla. […]
Former President Obasanjo Urges Government Action on Cheap Credit and Policy Consistency for Food Production Boost Olusegun Obasanjo, Nigeria’s former president, has emphasized the critical need for the government to facilitate access to affordable credit and maintain policy consistency to empower farmers and enhance food production in the country. Obasanjo’s remarks come amidst growing concerns […]
Nigerians Celebrate as Air Peace Executes First Full London Flight Air Peace made history on Saturday with its inaugural full flight to London, utilizing a Boeing 777 for this landmark journey. The airline marked the occasion with a brief ceremony at the Muhammed International Airport (New Terminal), drawing notable figures like Festus Keyamo, Minister […]
Minister of Transportation, Saidu Alkali Federal Government Orders Rail Line Connection to Port Harcourt and Onne Ports The Federal Government has instructed the linking of the Port Harcourt-Aba rail line, currently in the final stages of construction, to the Port Harcourt and Onne Ports in Rivers State to facilitate freight operations. Senator Saidu Alkali, the […]
NDDC MD, Samuel Ogbuku The Niger Delta Development Commission (NDDC) has initiated the monitoring and evaluation of recipients of its Foreign Post Graduate Scholarship program to assess their academic advancement and well-being in the United Kingdom. Dr. Samuel Ogbuku, the Managing Director of NDDC, announced this during a meeting with the scholars from NDDC […]
Tinubu Establishes Presidential Economic Coordination Council and Economic Management Team Emergency Taskforce ABUJA — President Bola Tinubu unveiled the establishment of the Presidential Economic Coordination Council (PECC) and the formation of the Economic Management Team Emergency Taskforce (EET) on Wednesday. This move, aimed at enhancing the nation’s economic governance structures, was disclosed through a statement […]
Binance executive Nadeem Anjarwalla was first detained in Nigeria last month According to Nigerian authorities, an executive from the cryptocurrency company Binance has reportedly fled custody in Nigeria. Nadeem Anjarwalla, a dual national of British and Kenyan origin, was apprehended in February alongside his colleague Tigran Gambaryan from the United States. The arrests occurred during […]
A man exchanges Nigeria’s currency, the Naira, for US dollars in Lagos, Nigeria. (Photo by PIUS UTOMI EKPEI – AFP) Amidst months of unprecedented uncertainties, the Naira gradually appreciates against the dollar, prompting the Central Bank of Nigeria (CBN) to announce the sale of $10,000 to each eligible Bureau De Change (BDC) operator in […]
Federal Government Deducts Over N415bn from State Allocations to Service External Loans According to data from the Federation Account Allocation Committee Disbursement reports published by the National Bureau of Statistics, the Federal Government has deducted over N415 billion from state government allocations to service their external loans. These deductions occurred between 2019 and 2023 from […]