The International Monetary Fund, IMF, says Nigeria’s inflation will drop to 23 per cent in 2025 from 33.2 per cent in March 2024. The Washington-based bank disclosed this on Tuesday during its Global Economic Outlook at the International Monetary Fund/World Bank Spring Meetings. Division Chief of the IMF Research Department, Daniel Leigh, said the impact…
Nightlife entrepreneur Okechukwu Paschal, also known as Cubana Chief Priest, has objected to his prosecution by the Economic and Financial Crimes Commission, EFCC, for naira abuse. EFCC detained Cubana Chief Priest on Tuesday and arraigned him before a Lagos Federal High Court on a three-count charge bordering on naira abuse. However, during court proceedings, counsel…
By Afolabi Hannah Artificial intelligence (AI) market value is projected to soar to $15.7 trillion globally, with Africa potentially claiming $1.2 trillion of this figure. The United Nations’ Economic Commission for Africa (ECA) Executive Secretary, Vera Songwe, has indicated that Africa’s economy could see an impressive increase of $1.5 trillion if it secures a mere…
By Afolabi Hannah The Nigerian Ports Authority (NPA) has implemented a new policy to alleviate congestion and facilitate the efficient entry of export cargoes into Lagos ports. The NPA is granting a 72-hour window for all export trucks to gain access to various terminals. According to a notice titled ‘Important Update: Revised Access Window for…
By Afolabi Hannah Oil marketers are expressing their enthusiasm as Dangote Petroleum Refinery has heeded their calls for a reduction in diesel prices. The refinery announced on Tuesday that it has cut the price of Automotive Gas Oil, commonly known as diesel, from N1,200 per litre to N1,000 per litre. This announcement, made by the…
By Afolabi Hannah President Bola Tinubu has announced that Nigeria could save approximately $4 billion each year by reducing bureaucratic hurdles and corruption through the implementation of the National Single Window project. During the inauguration of this digital trade facilitation initiative at the State House in Abuja, Tinubu emphasized the potential economic benefits, including an…
By Margret Oshinowo The Alakijas were arraigned by the anti-graft agency on an amended two-count charge bordering on alleged conspiracy and use of false documents. One of the counts read: “Alaba Alakija and Oyinkansola Alakija, on or about the 6th day of August, 2015 at Lagos, within the jurisdiction of this Honourable Court, with intent…
As Israel weighs its response to Iran’s recent weekend attacks, the United States has conveyed in private discussions that any military retaliation by Israel would be undertaken independently, without direct U.S. involvement, as reported by ABC News. This communication marks a departure from the norm for a close ally like Israel, which has historically received…
Nigeria’s Civil Aviation Authority, NCAA, has taken stringent action against three private jet operators found in breach of regulations by conducting commercial flights. Chris Najomo, the Acting Director General of NCAA, issued a stern warning to all airlines, emphasizing the immediate suspension of the permits of these operators during a recent announcement. The decision stems…
By Afolabi Hannah The Economic and Financial Crimes Commission (EFCC) is scheduled to prosecute Pascal Okechukwu, popularly known as Cubana Chiefpriest, on charges related to the alleged mishandling of the Nigerian currency. The arraignment is set for Wednesday in Lagos. This legal action follows shortly after the well-known internet personality, Idris Okuneye, better known as…
The Delta State Government said that it is now prohibited for actors to journey on its water bodies without putting on life jackets and taking note of other safety precautions. This was included in the condolence message by the State Commissioner for Culture and Tourism, Dr Nnamdi Ijeh, to the families of those who lost…
By Margret Oshinowo The disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process has begun, says, The Ministry of Industry, Trade and Investment. The government said this through the Bank of Industry, that the disbursing will be in three categories of funding totalling N200bn to support manufacturers and businesses…
By Afolabi Hannah Ondo State’s Governor Lucky Aiyedatiwa has pledged to the citizens that he will carry out the Ondo Seaport project should he win the election. The commitment was made in Igbokoda, the Ilaje local government’s administrative center, as part of his ongoing campaign tour before the state’s party governorship primary this Saturday. Aiyedatiwa…
By Afolabi Hannah The National Examinations Council (NECO) has postponed the 2024 National Common Entrance Examination for entry into Federal Unity Colleges and the admission test for the Federal Government Academy, Suleja. The announcement was disclosed to the press in Abuja on Tuesday by Azeez Sani, the interim Director of Information and Digital Communication at…
By Margret Oshinowo The Joint Admissions and Matriculation Board (JAMB) has banned the use of smart watches, lenses (unprescribed glasses), calculators, smart rings, pens, bluetooth devices, and flash drives in the 2024 Unified Matriculation Examination (UTME). The board also warned candidates taking the exam from bringing those prohibited items into the examination halls for their…
By Margret Oshinowo The Akwa Ibom Governor, Umo Eno, has authorised the immediate release of N1.4bn for further payment of gratuities in fulfilment of his campaign promise. The Chief Press Secretary to the governor, Ekerete Udoh revealed this in a press statement on Tuesday. According to the press statement, a breakdown of the payment showed…
Shittu Agboola, the head coach of Nigeria’s U-18 women’s handball team, has made an appeal to the sports ministry for assistance as the team gears up for the upcoming Women’s U-18 Handball World Championship. The event’s 10th iteration is set to take place from August 14 to 25 in Chuzhou, China. Nigeria finds itself in…
The naira is witnessing a revival against the US dollar, with an increase to N1,136/$ in the official exchange and N1,050/$ in the informal exchange at the end of Monday’s trading session. Market participants forecast that the dollar might decline to below N1,000 by week’s end. At the regulated foreign exchange market, figures from the…
The Federal Government, as stated by National Security Adviser Nuhu Ribadu, has successfully secured the release of over 1,000 individuals who had been kidnapped, without conceding to ransom demands. This announcement came as Ribadu welcomed the return of 22 individuals associated with the Federal University of Gusau in Zamfara State, who were recently liberated. The…
The Nigerian Communications Commission, NCC, has advised telecommunications subscribers to opt for strong passwords to prevent unauthorized access to their mobile devices. The NCC gave this advice through its official Facebook page, Cyber security remains one of the big problems confronting Nigeria’s digital space but NCC believes that with conscious efforts, the security threat could…
The Nigerian Communications Commission, NCC, in line with its duties outlined in the Nigerian Communications Act 2003, has unveiled a treasure trove of draft regulatory instruments on its official online domain. It said this move beckons stakeholders to engage in a symphony of collaboration, offering their insights and perspectives to shape the future landscape of…
Minister of Finance, Wale Edun, says Nigerians are saving in Dollars because they have lost faith in Naira. He noted that the recent appreciation of Naira’s value showed that Nigeria’s effort to boost its currency is yielding results. He disclosed this during his recent presentation to top business leaders in Lagos. He said the country…
The remains of the Nollywood make-up Artist, late Ms Abigail Edith Frederick who died alongside popular actor, Junior Pope and three others in a boat accident last week has been laid to rest in her hometown, Ikot Udoma, in Eket Local Government Area of Akwa Ibom State. Late Abigail Frederick, a graduate of Theater Arts…
Untraceable lightning strikes accompanied by torrential rains have resulted in the tragic loss of at least 36 lives, predominantly among the farming community, across various regions of Pakistan over the past three days. Authorities have declared a state of emergency in the southwestern part of the country in response to the calamity. The fatalities occurred…
President Joe Biden has cautioned Israeli Prime Minister Benjamin Netanyahu that the United States will abstain from engaging in a retaliatory campaign against Iran. Netanyahu’s war cabinet leans towards retaliatory measures in the wake of a significant drone and missile assault by Iran’s Revolutionary Guard on Israeli soil. The looming prospect of direct conflict between…
French President Emmanuel Macron has raised the possibility of relocating the Paris Olympics opening ceremony away from the River Seine amidst concerns over heightened security risks. Macron suggested that the ceremony might be relocated to the Trocadéro, situated opposite the Eiffel Tower, or even to the traditional venue, the Stade de France. The move comes…
The National Youth Service Corps (NYSC) has disclosed the strategic sequence for the forthcoming 2024 Batch A Stream Two Orientation Course. The directive, articulated by the Director of Public Relations, Eddy Megwa, underscores the imperative of optimizing camp capacity and ensuring a conducive environment for all prospective corps members (PCMs). Given the overwhelming number of…
The Nigerian Naira has surged to N1000 per US dollar as trading commenced on Monday in the foreign exchange market. This revelation was made by Mistila Dayyabu, a prominent Bureau De Change operator, in an exclusive disclosure to news men Dayyabu further anticipates a continued appreciation of the Naira, projecting it to dip below the…
By Afolabi Hannah In recent years, remote work has transitioned from a niche trend to a mainstream phenomenon, reshaping the way businesses operate and employees work. The rise of remote work has been fueled by advancements in technology, shifting attitudes towards work-life balance, and the global response to the COVID-19 pandemic. As remote work becomes…
Governor Umaru Bago of Niger State has declared a state of emergency over insecurity in the state following an increase in violent activities of thugs in the state capital. He made the declaration during his speech at a Sallah Durbar festival organised by the former governor of the state Babangida Aliyu on his farm in…
The federal government of Nigeria led by Bola Ahmed Tinubu has been advised by workers under the guidance of Federal Workers Forum, FWF not to devalue naira after implementation of the new national minimum wage on Sunday. The Nigeria Labour Congress, NLC, has been pushing for a new national minimum wage since the removal of…
