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Nigeria’s Inflation Rate Jumps to 22.41% Nigeria saw a worsening consumer price inflation in May 2023 following the fuel subsidy crisis, rising to 22.41% from 22.22% in April of the same year, data from the National Bureau of Statistics show.   However, the surge fell below market expectations. Some analysts have projected that the consumer […]

Naira Falls to N702.19, FX Benchmark Rate Hits N610.20 The Nigerian local currency, the naira, falls further after the apex bank’s foreign exchange (forex) rate floating which worsened the market position of the local currency. At the investors and exporters FX window, the US dollar was sold to importers, corporates, and manufacturers at N702.19, data […]

Rates on Nigerian Treasury Bills Crash At the Central Bank of Nigeria (CBN) primary market auction conducted on Wednesday, spot rates on long-dated instruments were priced down while market participants saw the return on the short end pushed upward. The decline was in contrast to the market experienced in the previous auction amidst inflation, interest, […]

The suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele has spent his sixth day in the custody of the Department of State Services (DSS) with the secret police keeping mum over whether he will be charged to court or not. Emefiele was arrested by the DSS last Friday evening shortly after he was suspended […]

So, what’s the deal with insider mediation? Well, essentially it involves having someone on the inside of a dispute help to facilitate a resolution. This insider could be an employee of one of the parties involved or someone who has close relationships with both sides. The idea is that by having someone who knows the […]

Justice Tijjani Ringim of a Federal High Court, sitting in Lagos have convicted a clearing agent, Felix Olame, who was arrested with container load of pangolin scales, elephant ivories, tusk and bones by the Nigeria Customs Services (NCS). Justice Ringim convicted the clearing agent, after he pleaded guilty to three counts charge made against him […]

The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Wednesday, June 14, 2023, closed its case against a former Minister of Power, Mohammed Wakil and four others. The prosecution closed its case before Justice K. Dagat of the Federal High Court, Maiduguri, Borno State, after presenting three witnesses. Wakil, alongside Garba […]

The House of Representatives, on Thursday, unanimously voted against a motion seeking to make the Federal Government address the issues causing Nigerian professionals to migrate to other countries en masse, in search of greener pastures. A new member of the House, Philip Agbese, had moved a motion titled ‘Need to Declare Emigration of Young Nigerians […]

*Adjourns House Till July 4 Speaker Tajudeen Abbas on Thursday announced the setting up of seven ad hoc committees that will assist the leadership pilot the affairs of the House pending the composition of standing committees. The committees announced after the day’s plenary are the Internal security committee, Selection Committee, Media Committee, and Legislative Agenda […]

The Independent Corrupt Practices and other related Offences Corruption (ICPC) on Thursday arraigned Prof. Dibu Ojerinde, former Registrar of Joint Admissions and Matriculation Board (JAMB), his three sons and a daughter-in-law. They were arraigned in a 17-count charge bordering on official corruption, abuse of office and forgery before Justice Inyang Ekwo of a Federal High […]

*Produces BVAS Report For Rivers State Following a summon that was issued on him, Chairman of the Independent National Electoral Commission, INEC, Prof. Mahmoud Yakubu, on Thursday, produced before the Presidential Election Petition Court, PEPC, sitting in Abuja, a document that contained President Bola Tinubu’s age. The document, known as Form EC9, was an affidavit […]

*Admits Obi, LP’s Star Witness’ Data Analysis Prof. Eric Ofoedu, a witness of the candidate of the Labour Party (LP) in the last presidential election, Mr Peter Obi, on Thursday, told the Presidential Election Petition Court (PREPEC) that over 18,088 result sheets uploaded unto the Independent National Electoral Commission (INEC’s) Result Viewing (IReV) portal were […]