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Israeli Prime Minister Benjamin Netanyahu has dissolved the wartime Cabinet set up in the early days of the war in Gaza to coordinate and plan the military response to the deadly Oct. 7 Hamas attacks, according to The Associated Press. Netanyahu’s decision to discard the wartime Cabinet comes just days after opposition leader and centrist […]

The Association of Local Government of Nigeria (ALGON), has called for the adoption of a unified four-year tenure for elected local government officials in the country. Alh. Aminu Muazu-Maifata, National President of ALGON made the call in an interview with newsmen on Monday in Lafia. Muazu-Maifata said that the move would ensure good governance and […]

A member of the Osun State House of Assembly, Hon. Kanmi Ajibola has headed to the Appeal Court in Akure over the judgment of the Federal High Court in Osogbo barring him for appearing in court to render free legal services for indigent suspects facing criminal charges. Kanmi, a lawyer and a former Chairman of […]

A Lagos-based lawyer, Kenneth Odidika, has accused the Lagos State Building Control Agency (LASBCA) and the State’s Ministry of Physical Planning and Urban Development of a plot to dispossess him of his property in highbrow Lekki. He stated that from the onset, LASBCA has been struggling to find reasons to dispossess him and his neighbours […]

Dangote Sugar Raised N42.79bn from Asset Managers Dangote Sugar Refinery Plc has successfully raised N42.78 billion from the local debt capital market via commercial paper sales to pension and non-pension asset managers. In a regulatory filing, the company told the Nigerian Exchange and the investing public it has issued ₦42.79 billion Series 4 and 5 […]

Investors Trim Treasury Bills Holdings as CBN Cuts Rates Investors reacted negatively, trimmed their Nigerian treasury bills (NTB) holdings in the secondary market following successive spot rates cut at the Central Bank of Nigeria’s (CBN) primary market auction last week. In a bid to attract foreign portfolio investors into the economy, the apex bank offered […]

High FCY Debt:  Fitch Affirms Angola Ratings with Stable Outlook Fitch Ratings has affirmed Angola’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a stable outlook. According to the note, Angola’s credit ratings reflect weak governance indicators, high inflation, high levels of foreign-currency (FCY) denominated government debt and one of the highest levels of […]

GCR Downgrades Capital Trust over Payments Default GCR Ratings (GCR) has downgraded Capital Trust Investment and Asset Management Limited’s national scale long and short-term issuer ratings to SD(NG) respectively, from BBB(NG) and A3(NG) respectively. In its rating note, the emerging market rating agency said its decision follows evidence of selective default on the debt note […]

Moody’s Downgrades Gabon’s Ratings over Fiscal, Liquidity Risks Moody’s Ratings has downgraded the Government of Gabon’s local and foreign-currency long-term issuer and foreign-currency senior unsecured debt ratings to Caa2 from Caa1 and changed the outlook to stable from negative.    The global rating agency said the downgrade to Caa2 reflects a marked deterioration in Gabon’s fiscal […]Read More

Inflation Rate to Drop in June, CardinalStone Forecasts Nigeria’s multi decade highs hot red inflation is expected to start dropping from the month of June, according to CardinalStone macroeconomic commentary note. The multi-asset investment banking firm analysts are projecting a slide in consumer price index to 33.8% for June reading. In Nigeria, inflation has turned […]

NDLEA Bursts Warehouse, Seizes N4.7b Drugs Officers of the Special Operation Unit of the National Drug Law Enforcement Agency (NDLEA) in Aba have discovered a cartel controlled by three suspected drug barons. The agency’s Director, Media and Advocacy Femi Babafemi, announced this on Sunday in Abuja. The agency said that the suspects were arrested and […]

AfDB Inaugurates Initiative to Spur Home-grown Solutions to Debt Challenges The African Development Bank’s (AfDB) African Development Institute (ADI), has inaugurated a programme, the African Debt Managers’ Initiative Network (ADMIN), to provide home-grown solutions to Africa’s debt challenges. A statement issued by AfDB on Saturday in Abuja, said the inauguration and first peer-learning event took […]