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A video showing a female corps member kneeling on the bare floor of a classroom has sparked mixed reactions online. In the video, the kneeling corps member is surrounded by students while a teacher stands beside her. The clip was shared on Twitter by @instablog9ja and quickly went viral, garnering over 2,000 retweets. Many people […]

The Senate on Tuesday defended purchase of 2023 model of the Toyota Land Cruiser Sports Utility Vehicles for 107 Senators at N160million each. It also acquired bullet proof vehicles for Senate President Godswill Akpabio and his Deputy, Barau Jibrin. The move generated heavy criticism with some Nigerians lashing the lawmakers for being insensitive to the […]

The Senate on Tuesday constituted an ad hoc committee to investigate the Nigerian National Petroleum Corporation Limited (NNPCL) over the N11.35 trillion spent on the nation’s four moribund refineries in the last 13 years without results. The Deputy President of the Senate, Jibrin Barau, announced the composition of the panel while presiding over the plenary. […]

Dr. Abraham Afolayan, a distinguished criminal litigation lecturer at the Nigerian Law School in Abuja, has passed away. Afolayan, who was attending an event in town on behalf of the Director General, suddenly collapsed. His body was brought back to the Law School clinic on Tuesday afternoon. Described as a father figure and mentor to […]

Nigeria Expects $10bn Inflow in Weeks, Says Edun Nigeria expects a $10 billion FX inflow in the next few weeks to ease liquidity in a foreign exchange market that has cramped growth in Africa’s biggest economy, finance minister Wale Edun said on Monday. Africa’s largest by size of gross domestic product (GDP) is facing chronic […]

Treasury Bills Yield Prints at 6.9% Ahead of Auction The average yield on Nigerian Treasury bills (NTB) steadied at 6.9% in the secondary market on Monday ahead of the Central Bank of Nigeria (CBN) scheduled primary market (PMA) auction. At the auction, the CBN would roll over maturity Nigerian Treasury Bills worth N108.13 billion across […]

Naira Jumps on $10bn FX Inflow Expectation The Nigerian naira appreciated by 1.9% to N793.34 against the United States (US) dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) amidst a $10 billion foreign currency inflow that is expected to hit the economy in the coming weeks. Nigeria is expecting an influx of $10 billion […]

NGX Down by N21bn over Selloffs in Cadbury, VFD The Nigerian Exchange (NGX) equities market capitalisation was down by more than N21 billion at the beginning of the week due to a relatively weak sentiment in the local bourse. This followed the bears’ rampage in the equities market spanning four out of five days in […]

Nigeria Wins $11bn P&ID Case in UK The Nigerian government has won the legal case against Process & Industrial Developments (P&ID) Limited in a London court on Monday. The judgment was delivered after five years of legal frameworks which have finally been to the advantage of Nigeria, as the court quashed the $11 billion arbitration […]

UBA Joins PCAF Global Core Team, Lead in Carbon Accounting Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been admitted as a member of the prestigious Partnership for Carbon Accounting Financials (PCAF). By this admission, UBA is the only financial institution from West Africa to be selected and listed among the 14 members […]

FX, Price Stability Interest Rate: CBN Fails on Policy Quality Tests The sustained depreciation of the Nigerian local currency, the naira, has worsened the Central Bank of Nigeria (CBN) scorecard as monetary authority. Key macroeconomic indicators have worsened in the last few years, and the outlook remains bleak. Based on the latest data update, the […]

Foreign Investors Dump Nigeria US Dollar Bonds Nigeria’s US dollar bond was faced with selloffs across tenors amidst uncertainties in the economy, reversing the previous trend observed in the international debt capital market. Last week, foreign portfolio investors (FPIs) dropped low on buying momentum on the Nigerian government Eurobonds as sentiment turned cold; supported by […]