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A Federal High Court No. 1 sitting at Awka, Anambra State, presided over by His Lordship, Justice F.O. Riman, on Wednesday, granted bail to a whistleblower, Nnamdi Emeh. Emeh was working as an IT consultant for the Anambra State Police Command and was attached to the Rapid Response Squad in Awkuzu. He had through an […]

A Federal High Court in Abuja has rejected the request by the Ecobank Nigeria Limited for an order to restrained the Federal Government from proceeding with it’s efforts to recover the over N800millon allegedly overpaid by the bank to beneficiaries of the Amnesty Programme. In a ruling on Wednesday, Justice Inyang Ekwo declined to restrain […]

Naira Hits Fresh Low as Bear Pressures Mount Nigerian naira has crossed a new redline as bear pressures mount. The exchange rate printed at N463.47 per the United States (US) dollar in the afternoon, it had closed at the investors and exporters window at N464 yesterday. The imbalance created by higher demand for foreign currency […]

NGX Jumps by N102bn over Heavy Bargain Hunting The Nigerian Exchange (NGX) equities segment saw a significant gain of more than N102 billion amidst heavy bargain hunting that followed a spike in headline inflation. Equities investors’ response to accelerating inflation rate was faster as the need to hedge against exposure to naira asset top discussions […]

Dollar Plunges as Markets Focus on Debt Ceiling Talks The United States dollar weakened against other major currencies as markets shift attention to debt ceiling talks after the standoff. Global markets entered the new trading week in a cheery mood. On Tuesday, Wall Street cruised higher as investors piled into tech and semiconductor shares; while […]

Oil Spills: It’ll Cost $12bn to Clean Up Bayelsa – Report After years of neglect, Nigeria will now need as much as $12 billion to clean up oil spills that have degraded Bayelsa state over a 12-year period, according to a new report which pointed at Shell and Eni as key responsible parties for most […]

Unemployment Rises in South Africa to 32.9% in Q1 In South Africa, the unemployment rate rose to 32.9% in the first quarter of 2023 from 32.7% in the final quarter of last year, data showed on Tuesday. Statistics said the number of unemployed people totaled 7.933 million between January-March period, from 7.753 million people in […]Read More

MTN Plans $320mn Fibre Cable to Connect African Countries Telecommunication service provider, MTN Group, has announced a plan to build a $320 million inland fibre cable to connect ten countries across Africa over the years 2023, 2024 and 2025 as it forges ahead to expand its service and make it available to more and more […]

Nigeria’s Debt Office Raises N368bn from Bonds Sales Nigeria’s Debt Management Office has raised more than N368 billion from the Federal Government’s primary market bonds auction sales to investors in the local debt capital market. Against an initial offer of N360 billion worth of instruments it opened the subscription; the agency pushed higher as investors […]

The Court of Appeal sitting in Abuja has dismissed a motion by a former Minister of State for Education of Nigeria, Chukwuemeka Nwajuba seeking leave to appeal as an interested party in a pre-election suit by a non-governmental organisation challenging the nomination of Bola Ahmed Tinubu as the presidential candidate of the All Progressives Congress […]

The Police have given more updates on the attack on US embassy staff in Anambra State. Recall how the convoy of the officials came under attack in Ogbaru Local Government Area of the state on Tuesday. According to sources, four persons were killed in the tragic incident. Giving further insight of the attack, DSP Ikenga […]

FOUR persons were killed when unknown gunmen attacked a convoy of vehicles conveying officials of the United States (US) Embassy in Nigeria on Tuesday, May 16. The incident reportedly occurred late on Tuesday night in the Amiyi/Eke Ochuche axis of Ogbaru Local Government Area of Anambra State. According to reports, the diplomatic delegation, said to […]