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Authored by Jenna McLaughlin via TheIntercept.com, Courts across the country are grappling with a key question for the information age: When law enforcement asks a company for cellphone records to track location data in an investigation, is that a search under the Fourth Amendment? By a 12-3 vote, appellate court judges in Richmond, Virginia, on […]

Minister of Power, Works and Housing, Babatunde Fashola on Tuesday, said there no going back on the 45 percent increase in electricity tariff. Fashola stated this when he briefed the Senate Committees on Labour and Power during a public hearing on the new electricity tariff in Abuja. The minister explained that the new tariff could […]

Any former political office holders and retired public servants who are still in possession of the nation’s diplomatic passports will be arrested. The newly appointed Comptroller General of Nigeria Immigration Service (NIS), Mohammad Babandede, gave the order while addressing senior officers of the Service on Tuesday at the Service headquarters in Abuja. The C-G instructed […]

Reuters| Nearly 46 million people around the world are living as slaves, forced to work in factories, mines and farms, sold for sex, trapped in debt bondage or born into servitude, according to the third Global Slavery Index released on Tuesday. The survey by Walk Free Foundation, the Australia-based human rights group, increased the estimated […]

A survival of the fittest struggle is emerging in Nigeria’s downstream petroleum sector as dollar shortage and banks’ reluctance to lend to firms with weak balance sheets- meaning only the large firms with international contacts are thriving. The Central Bank of Nigeria (CBN), last week expressed willingness to set up a secondary foreign exchange (FX) […]

Critics say President Buhari’s policies are adding to its worst economic crisis in generations by: Maggie Fick In his former role as the managing director of one of Nigeria’s leading banks, Godwin Emefiele had a reputation for being soft-spoken and unassuming. In the year since he became governor of the central bank, he has stood […]

NAIROBI, May 31 (Reuters) – The following companyannouncements, scheduled economic indicators, debt and currencymarket moves and political events may affect African markets onTuesday.– – – – –EVENTS:*UGANDA – The statistics office is expected to announce thecountry’s May consumer price index data. *KENYA – May consumer prices inflation data also expected tobe released. *SOUTH AFRICA – […]Read More

By David Malingha Doya Nigeria’s President Muhammadu Buhari has given the nation’s central bank the go-ahead to introduce flexibility in the naira exchange rate, his spokesman said on Monday. “The president is opposed to devaluing the naira, he has said so repeatedly,” Buhari’s spokesman, Garba Shehu, said in an interview on state-controlled NTA Television. “He […]Read More

By Vernon Wessels Nigerian President Muhammadu Buhari approved the establishment of an inter-agency task force that will help the Asset Management Corp. of Nigeria recover loans and other assets it took on six years ago to rescue banks in Africa’s biggest oil producer. “Debtors who cut across the aviation, banking and oil and gas sectors […]

Equity experts polled in the run up to naira devaluation, which appears more likely, going by the policy shift to a more flexible foreign exchange stance in Africa’s largest economy, fingered some financial, industrial and consumer stocks as most preferred for local and foreign investors, post devaluation. Nigerian stocks were higher after the close on […]

The Nigerian naira at interbank market has crashed to N285 to the dollar ahead of the release of modalities for the implementation of the adopted flexible exchange rate policy as announced by the Central Bank of Nigeria (CBN). This was sequel to increased perception that CBN has withdrawn from the weekly foreign exchange (forex) intervention, […]

Get caught up on what’s moving markets By Lorcan Roche Kelly It’s a huge week for data, the euro-area remains in deflation, and Chinese markets make some big moves. Here are some of the things people in markets are talking about today. A naira confusion A year after taking over as President of Nigeria, Muhammadu Buhari is […]Read More