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Airline operators have temporarily shelved plans to cease flight operations, averting a national transport crisis scheduled for 20 April. The Airline Operators of Nigeria (AON) agreed to the pause following an emergency appeal from the Minister of Aviation and Aerospace Development, Festus Keyamo. The government warned that a shutdown would cripple the economy and devastate…
The Nigeria Deposit Insurance Corporation (NDIC) has begun the final legal process to wind down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs). These institutions were part of a larger group of 183 lenders whose licences were revoked by the Central Bank of Nigeria (CBN) in May 2023. The corporation is now approaching…
The White House is engineering a diplomatic breakthrough between Israel and Lebanon, with President Donald Trump announcing that leaders from both nations will speak on Thursday. This potential dialogue follows the first direct, high-level meeting between officials from the two rivals since 1993, held in Washington on Tuesday. Trump stated on his Truth Social platform…
Joint military forces have dismantled several camps belonging to the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN), across the South-East. The operation, conducted under the banner of Operation Eastern Sanity, resulted in the recovery of anti-tank explosives, firearms, and millions in cash. Troops used bulldozers and chainsaws to…
The Federal Government will use this week’s IMF and World Bank Spring Meetings in Washington, DC, to lobby for lower borrowing costs and fairer global financial terms. This diplomatic push comes as the escalating US–Israel–Iran conflict disrupts energy markets and tightens capital flows to emerging economies. Finance Minister Wale Edun aims to convince global lenders…
The Nigerian Navy has arrested 26 crew members and seized three motor tankers following a midnight raid in the Calabar-Akwa Ibom maritime corridor. Troops from the Joint Task Force, Operation Delta Safe, intercepted the vessels while they were reportedly siphoning crude oil from a wellhead on April 8. This operation marks one of the most…
The Nigerian Naira began the trading week with measured stability, opening at N1,358.84 per Dollar in the official market on April 13. Early volatility saw the currency touch N1,362.08 before central bank liquidity management tethered it back to its starting range. This official rate reflects the ongoing effort by monetary authorities to curb wild fluctuations…
Pope Leo XIV has declared a “moral obligation” to shield Lebanese civilians as diplomatic efforts to end the Middle East war falter. His appeal follows a collapsed summit between Iran and the United States in Pakistan. The 70-year-old pontiff spoke to crowds at St Peter’s Square during a period of escalating regional bloodshed. He insisted…
The Central Bank of Nigeria (CBN) has successfully propped up the naira through aggressive Open Market Operations (OMO), despite a worrying $1.14 billion slide in external reserves. Over a four-day trading week, the local currency gained 1.76 per cent to close at N1,356.89 per dollar at the official window. This recovery suggests that the central…
Pope Leo XIV departs Rome on Monday for an 11-day, 18,000-kilometre tour of Algeria, Cameroon, Angola, and Equatorial Guinea. The trip marks the American-born pontiff’s first major foreign mission since his election in May 2025 and comes at a moment of acute global instability. Over the course of the four-nation visit, the 70-year-old head of…
