UN advises action to fight food insecurity in Nigeria

The United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, has called for a pressing action to address the pervasive issue of food insecurity in Nigeria. Emphasizing the importance of revitalizing the country’s food systems, Schmale commended President Bola Ahmed Tinubu’s recent declaration of food security as a national emergency, considering it a positive…

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Naira drops to N888/$1 on Binance

The exchange rate between the naira and dollar fell over to N888/$1 on Binance a crypto platform. This depreciation comes despite a temporary convergence achieved through the Central Bank of Nigeria’s (CBN) recent actions. Currency restrictions have previously been identified as a major hurdle for foreign investors looking to invest in Nigeria, the largest oil…

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Fuel subsidy: Petroleum product distributors protest against the apparent increase in fuel loading fees  

Distributors of Petroleum products in Nigeria under the umbrella of the Association of Distributors and Transporters of Petroleum Products (ADITOP) kicked against the alleged rise of truck loading fees for petrol by the Petroleum Tanker Drivers Association (PTD).  This was disclosed by its National President, Alhaji Lawal Dan-Zaki in a statement in Abuja on Thursday.  They cite an “arbitrary…

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Benue uncovers 2,500 ghost workers

The Governmentof Benue State has uncovered 2,500 ghost workers during the first phase of the state’s staff verification and payroll audit for teachers and local government staff. Several hidden and ghost schools were also discovered as the Benue State government continues to block all revenue leakages. According to his statement, the Chief Press Secretary to…

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Nigeria fulfils financial obligation to AU

The Federal Republic of Nigeria hasake do with its financial obligations to the African Union, AU by making full payment of its assessed contributions for the year 2023. The confirmation was made on Saturday by the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Adamu Ibrahim Lamuwa, on the sidelines of the 43rd Ordinary Session of…

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Standard Chartered Affirms its agreement to Nigeria partners with Access Bank Plc in five African countries

Standard Chartered Bank and Access Bank Plc (Access) have entered into treaties for the sale of Standard Chartered’s shareholding in its subsidiaries in Angola, Cameroon, Gambia, and Sierra Leone, and its Consumer, Private & Business Banking business in Tanzania. Each transaction remains subject to the approval of the respective local regulators and the banking regulator…

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Support for modular refineries will give Nigerians inexpensive fuel – CORAN

Momoh Oyarekhua, Chairman of CORAN, states that supporting modular refineries will grant Nigerians admission to cheaper fuel, eliminating various costs such as importing refined products and clearing fees. According to Oyarekhua, four modular refineries are functional in Nigeria, producing various petroleum products except fuel (PMS) due to the high cost of obtaining the required reformer….

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Just in: Court repeals Emefiele’s arrest, detention, interrogation, orders sudden release

Another High Court in Abuja has abolished the arrest, detention, and interrogation of the Suspended Central Bank Governor (CBN), Godwin Emefiele, by the Department of State Services (DSS). This is coming barely 24 hours after a Federal Capital Territory (FCT), Abuja, delivered a related judgment on the matter. Delivering Judgement, Justice Bello Kawu held that…

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Reasons why NCAA suspended Max Air flights

Edited by Damilola Adeleke The Nigeria Civil Aviation Authority (NCAA) has decided to suspend the operations of all Boeing B737 aircraft belonging to Max Air, a domestic carrier. The suspension which was with immediate effect was communicated to the airline through a letter from the regulator seen by Nairametrics. The letter, dated July 12, 2023,…

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Nigeria gets $500m Eurobond

Nigeria has been given a $500 million Eurobond says the Debt Management Office (DMO) In a press released made public in its twitter handle on Wednesday, the DMO re-affirmed that Nigeria was commitment to meeting her debt service obligations. According to the statement, the Eurobond was issued in July 2013 (as part of a dual-tranche…

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