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NGX Loses N622bn to Selloffs in DANGCEM, MTNN, FBNH The Nigerian Exchange (NGX) loosened up midweek as selling rallies on Dangote Cement, MTN Nigeria, and FBN Holdings among others plunged the local bourse downward. The decline was triggered by profit-taking in major market movers, causing a large drop of about N622 billion yesterday in the […]

Naira Fluctuation Dims Hope for FX Rates Convergence Weak foreign currency supply and sizeable foreign currency backlog kept market expectations of exchange rate convergence in check. FX spread has widened further after a large devaluation of the local currency. In the official market, the exchange rate has formed a pattern, it swung right today and […]

*Says Naira Currently Undervalued Folashodun Shonubi, the Acting Governor of the Central Bank of Nigeria (CBN), unveiled significant insights on the Nigerian Naira’s value during a lecture titled ‘Diaspora Remittances and Nigeria Economic Development,’ hosted at the National Institute of Security Studies (NISS) in Abuja. Shonubi underscored the Naira’s substantial undervaluation based on economic modeling […]

A Chief Magistrate Court in the Federal Capital Territory has ruled that the presiding pastor of the Abuja chapter of the House on the Rock, Uche Aigbe has a criminal case to answer over the prohibited firearm found in his possession. The no-case submission made by the Pastor was dismissed by Chief Magistrate Abubakar Ismail […]

The Chairman of Independent National Electoral Commission (INEC), Mahmood Yakubu, has declared that the commission is still open to future collaboration with European Union (EU) despite the complaints that trailed the unfavourable report from the subnational union against its conduct of the 2023 general election. He made the declaration in his remarks at the handover […]

World Athletics (WA) has included Tobi Amusan in its official list of athletes billed to compete at the 2023 World Athletics Championships in Budapest. The official list was published on its website on Thursday. Amusan was named in the registry of more than 2100 athletes competing at the event. However, her name was accompanied by […]

Supporters of Peter Obi, the Labour Party presidential candidate in the 2023 general elections, have erected a large billboard in Federal Capital Territory, Abuja, ahead of Tribunal judgement on the petition challenging the victory of President Bola Tinubu. The billboard features a bold picture of a gavel symbolising the Judiciary with an inscription that reads […]

Nigerians will pay N107,500 for academic International English Language Testing System examinations from September 2023. In a recent statement released by the British Council on Thursday, Nigerians preparing to take the International English Language Testing System (IELTS) examinations will be required to pay N107,500 from September 2023 onwards. The IELTS is a mandatory requirement for […]

A direct appeal has been made to King Charles to refuse approval, or so-called royal assent, for a controversial bill to deal with Northern Ireland’s troubled past. There has been widespread opposition to the Northern Ireland Troubles (Legacy and Reconciliation) Bill which would give immunity from prosecution for Troubles-related offences to people who co-operated with […]

The Nigeria Labour Congress, NLC, Thursday, lamented over the non-remittance of pensions and other benefits of its members in various organisations to the appropriate channels as required by the law. The organised labour accused some airlines of deducting pensions and other benefits from pilots and engineers in the aviation sector, stressing that the deductions are […]

Governors of the Southeast have said that the spate of kidnappings and killings in the region cannot be linked to the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. The governors however said that anybody who has evidence linking the IPOB leader to the killings should come up with them. Rising from a […]

*Says Maina Can Use His Expertise To Rescue Nigeria The Young Lawyers League of Nigeria has urged President Bola Ahmed Tinubu to free the detained former chairman of the Pension Reform Task Team (PRTT), Abdulrasheed Maina and his son, Faisal through presidential intervention. Among other requests, the group of lawyers appealed for compensation for Maina, […]