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US Fed Chair Powell Maintains Hawkish Stance on Rates While inflation has slowed, the journey down to 2% is not over and the Federal Open Market Committee will act as needed, Federal Reserve Chair Jerome Powell said in prepared remarks during a live panel discussion at the 24th Jacques Polak Annual Research Conference. “US inflation […]

AfreximBank Announces $1 Billion African Film Fund The African Export-Import Bank (AfreximBank) has announced a $1 billion African film fund to support the creative industry, according to a statement released by the organisation. AfreximBank is working on the establishment of a $1-billion African Film Fund to be launched in 2024 to support the continent’s film […]

Benchmark Yield on Nigerian Treasury Bills Slides to 13.4% Ahead of the inflation rate figure for October 2023, the average yield on the Nigerian Treasury bills slid by 94 basis points to 13.37% amidst pressure on the financial system’s liquidity. In the money market, pressures on financial system liquidity increase as short-term benchmark interest rates […]

Naira Depreciates to N996.75, Trailing Black Market Rate Positive sentiment about the expected US dollar inflow announced by the Nigerian government has started to fizzle out. This is coming at the same time when the market has started to discount the impact of the forex backlog the apex bank recently paid banks to offset various […]

Nigeria Eurobond Yield Spikes over Sell Pressures Nigeria’s US dollar bonds continue to face sell pressures in the international capital market amidst risk off sentiment following the US Fed’s decision to maintain the status quo on fund rates. Foreign investors and traders have continued to swing in reaction to the Nigerian government policy strategy to […]

There is currently power outage in Owerri, Imo State capital, where residents are expected to vote in Saturday’s governorship election. The outage is as a result of the directive of the Nigeria Labour Congress (NLC) that electricity should be cut off from the town as a result of the assault on Joe Ajaero, NLC President. […]

Academic Staff Union of Secondary Schools (ASUSS) has closed down all secondary schools in Taraba State following the killing of a teacher, Bassey Sardauna, by an ex-student on Thursday. Sadauna was on Thursday stabbed to death by a former student of Government Model Secondary School in Jalingo, where he worked as a teacher. The ASUSS […]

In an official notice, the Chief Justice of Nigeria, Hon. Justice Olukayode Ariwoola, GCON, directed the rescheduling of the Supreme Court of Nigeria’s sitting originally slated for November 13th to 17th, 2023. This adjustment aims to allow Honourable Justices to attend the All Nigeria Judges’ Conference during the same period. The Supreme Court’s Registry will […]

The Inspector-General of Police, Kayode Egbetokun, has ordered a thorough investigation into the alleged assault on the President of the National Labour Congress, Joe Ajaero, to ascertain the facts surrounding the incident and to address any ambiguities that may exist. This was made known in a statement by the Force Public Relations Officer, Olumuyiwa Adejobi, […]

The Ministry of Housing and Urban Development has revoked provisional letters of allocation offered to subscribers of the National Housing Programme. This was disclosed in a press release signed by the permanent secretary of the ministry, Mahmud Mamman, and obtained by our correspondent on Friday. It was titled, “Review Of Sale Of Houses Under National […]

A 22-year-old Nigerian woman, Zainab Abidoye, has gone viral on social media after revealing she rejected a marriage proposal from a man nearly 30 years older than her. Abidoye, a recent graduate of the University of Ilorin, shared on Twitter that the man, identified only as Alhaji, had been taking care of her financially while […]

The Court of Appeal in Abuja has dismissed an appeal seeking to prevent former Minister of State for Petroleum Resources, Timipre Sylva from participating in the Saturday, November 11, governorship election in Bayelsa state. In a judgment on Thursday evening, a three-member panel of the Court of Appeal held that the appeal brought by Hon […]