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The maximum lending rate charged by Nigerian commercial banks softened marginally to 34.78% in May. Data from the Central Bank of Nigeria reveals a slight retreat from the 35.17% recorded in April. This moderate decline offers minor relief to highly leveraged corporate borrowers. Despite the drop, structural cost pressures remain exceptionally high across the domestic…
Nigeria’s embattled currency is enjoying a rare moment of relative calm against the greenback. The naira opened trading today at N1,363 per US dollar in the official Nigerian Foreign Exchange Market. Parallel market dealers are asking for roughly N1,400 for the same dollar notes. This narrow gap between the two markets points to a temporary…
The Super Falcons will enter the upcoming Women’s Africa Cup of Nations as the highest-ranked team on the continent after holding onto 36th place globally. FIFA released its final women’s world rankings update on Thursday before the upcoming continental tournament in Morocco. Despite securing back-to-back victories in international friendlies earlier this month, the reigning continental…
Global energy markets face immediate downward pressure after a breakthrough agreement in the Middle East. Brent crude plunged below the critical threshold of 80 dollars a barrel on Tuesday. Investors rapidly unloaded contracts following news of a diplomatic breakthrough between the United States and Iran. This sudden sell-off reflects a sharp drop in the geopolitical…
The International Monetary Fund has sparked widespread public concern and sharp economic anxiety across Nigeria by advising the Federal Government to introduce Value Added Tax (VAT) on premium motor spirit (petrol) and other fuel products. In its latest country assessment report, the Washington-based lender argued that levying a standard VAT on petroleum products is essential…
The House of Representatives has passed a landmark constitutional amendment bill to establish a decentralized state police structure across Nigeria. Titled “A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria 1999 to Provide for the Establishment of State Police; and for Related Matters (Sixth Alteration) Bill, 2026,” the legislation…
The House of Representatives will vote today on a highly anticipated constitutional amendment bill to establish independent state police structures across Nigeria. Lawmakers released the final print of the sweeping Constitution Alteration Bills on Thursday morning ahead of the decisive plenary session in Abuja. Deputy Speaker Benjamin Kalu confirmed that the lower chamber chose to…
Iran and Israel have halted direct military strikes against each other’s territories following hours of a dramatic exchange of firepower that threatened to spark an all-out regional war. Both nations announced the sudden suspension of hostilities on Monday afternoon after United States President Donald Trump issued an urgent appeal for an immediate end to the…
The Nigeria Labour Congress and the Trade Union Congress are considering a joint nationwide strike to protest the worsening security situation across the country. Union executives began internal discussions following a string of high-profile mass abductions targeting schools, rural communities, and urban motorists. Organised labour leaders argue that the state’s inability to protect basic lives…
The Federal Government has slashed the maximum reimbursable imprest for ministers to 700,000 naira as part of a severe fiscal tightening campaign. This cash ceiling represents a key pillar of a new regulatory strategy designed to curb institutional waste across Ministries, Departments, and Agencies. The sharp reduction appeared in the 2026 Annual General Imprest Warrant…
