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The Nigerian Naira opened with a modest recovery on Tuesday morning, trading at N1,358.20 per Dollar in the official window. Early sessions at the Nigerian Foreign Exchange Market (NFEM) showed the currency oscillating within a tight band between N1,357.31 and N1,358.63. This stability follows recent central bank interventions designed to smooth out mid-month liquidity volatility….
Africa remains a footnote in the global capital market, trapped in a narrow corridor of four to six per cent of global Foreign Direct Investment (FDI). A March 2026 report by the Pan-African Manufacturers Association (PAMA) reveals a continent struggling to move beyond the periphery of global manufacturing. While global FDI rose by 14 per…
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…
Former Petroleum Minister Diezani Alison-Madueke has told a London court she never accepted bribes or abused her office during her tenure. Appearing at Southwark Crown Court on Monday, the 65-year-old rejected prosecution claims that she traded government contracts for millions of pounds in luxury perks. Addressing the jury, she portrayed herself as a reformer who…
Nigeria’s electricity sector remains a fiscal black hole, with the Federal Government incurring N418.79bn in subsidy obligations during the final quarter of 2025. A new report from the Nigerian Electricity Regulatory Commission (NERC) reveals that the state continues to shoulder over 52 per cent of generation costs. This massive intervention serves only to paper over…
The Knights Templar Order has strongly condemned an AI-generated image shared by Donald Trump depicting himself in a Christ-like form, describing it as “offensive and blasphemous” and demanding its immediate removal. The group issued a statement reacting to the image and called on the US president to issue a public apology to Christians worldwide….
Twelve years after Boko Haram militants abducted 276 schoolgirls from Chibok in Borno State, parents of the victims have called on the Nigerian government, the United Nations and the international community to renew efforts to secure the release of those still missing. In an open letter on Monday signed by Yana Galang and Zanna…
The Independent Corrupt Practices and Other Related Offences Commission has filed an amended nine-count charge against former Kaduna State Governor, Nasir El-Rufai, over alleged fraud, abuse of office, and corruption. Counsel for the former governor, Ukpong Abang, disclosed this to journalists shortly after proceedings at the Kaduna State High Court on Monday. Abang said the…
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…
Global energy markets were upended on Monday as Brent crude prices jumped 8% to top $103 a barrel. The spike follows President Donald Trump’s announcement of a naval blockade targeting Iranian ports. Prices surged past the psychologically critical $100 mark shortly after ceasefire talks in Islamabad collapsed over the weekend. US Central Command confirmed the…
