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Naira Trades Near N1483, Parallel Market Rate Worsens The Nigerian local currency, the naira, registered a marginal gain against the US dollar in the forex market on Friday as FX scarcity pressures eased. According to information gathered from the FMDQ platform, the Nigerian Naira appreciated by 0.19% against the US dollar in the official window, […]

Nigeria Signed Asset Agreement with Jersey for Return of £2.1m – Fagbemi The Federal Government of Nigeria (FGN) has signed an Asset Sharing Agreement with the Bailiwick of Jersey for the return of 2.1 million British pounds proceeds of corruption. The Attorney-General of the Federation (AGF), Lateef Fagbemi SAN, made this known while presenting the […]

FBNH, Ecobank, Transcorp Selloffs Drag NGX Lower by N206bn It has been a dirty week as bears go on the rampage in the equities market amidst a surge in the consumer price index, the benchmark interest rate and mild economic growth data.  Key performance indicators tumbled by 0.52% as the Nigerian Exchange (NGX) recorded another […]

Nigeria, Germany to Tap $130bn Global Hydrogen Market Vice-President Kashim Shettima on Friday expressed readiness of the Federal Government to tap into the $130 billion global hydrogen market through partnership with the Republic of Germany. Shettima stated this when he hosted a German delegation led by a member of the German Parliament and Hydrogen Commissioner, […]

Federal Court Confiscates $4.7m, N830m, Properties Linked to Emefiele A Federal High Court sitting at Ikoyi, Lagos, has ordered an interim forfeiture of the sums of $4,719,054 and N830,875,611, and several properties linked to the embattled former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele. The EFCC had approached the court for an […]Read More

Kerosene Price Increases 6.3% in April, Says NBS The National Bureau of Statistics (NBS), says the average retail price of a litre of kerosene increased from N1,354.40 recorded in March 2024, up by about 6.3%, to N1,439.64 in April 2024. The Bureau said this in its Kerosene Price Watch for April 2024, released in Abuja […]Read More

Lagos State to Host Africa Social Impact Summit No fewer than 5000 participants across Africa are expected to participate in the third edition of the Africa Social Impact Summit (ASIS), which will be hosted by Lagos State Lagos State will partner with Sterling Bank, United Nations and MTN Nigeria, to host the third edition, scheduled […]

Court Refuses MultiChoice’s Plea to Stop NBC from Auditing Its Account A Federal High Court in Abuja on Friday, refused to grant an application filed by MultiChoice Nigeria Ltd, seeking an interim order restraining the National Broadcasting Commission (NBC) from requesting any financial, accounting, or tax documents from them. Justice James Omotosho, in a ruling […]

Prof. Amechi Enyi, a senior lecturer at Ebonyi State University (EBSU), has responded to allegations of his involvement in the suicide of Miss Favour Ugwuka, a final year student in the Department of English and Literary Studies. Ugwuka committed suicide on Wednesday night, May 22, 2024, after reportedly failing a particular course repeatedly. In a […]

The Central Bank of Nigeria (CBN) has retrenched nearly 200 employees across various departments in a bank-wide restructuring exercise. The latest round of job cuts across several departments, including: Human Resources; Development Finance; Trade and Exchange (including a prominent director, Dr. Hassan Mahmud); Financial Policy and Regulation and Procurement and Support Services (All service coordinators […]

The Abuja Division of the Federal High Court on Friday refused to grant an application filed by MultiChoice Nigeria Ltd, seeking an interim order restraining the National Broadcasting Commission (NBC) from requesting any financial, accounting, or tax documents from them. Justice James Omotosho, in a ruling on the ex-parte motion moved by the applicants’ counsel, […]

The Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN) hinted on Friday, May 24, that the federal government will not intervene in the treason trial of the leader of the proscribed separatist group, the Indigenous People of Biafra (IPOB), Nnamdi Kanu. Fagbemi said since the case was currently before a […]