Day: May 30, 2017

Nigeria’s external reserves, which have been on a downward slide since May 5, 2017, fell to $30.5 billion on May 25, indicating a decline of $494 million in 21 days, data on the Central Bank of Nigeria (CBN)’s website showed yesterday. The reserves have been rising steadily since March 28, moving from $30.3 billion to […]

The Attorney- General of the Federation and the National Drug Law Enforcement Agency have agreed not to extradite Sen. Buruji Kashamu to the United States until the determination of all court cases on the matter. Kashimu had gone to court to stop the two from extraditing him to face trial in the U.S over alleged […]

The Nigerian Police Force has arraigned one person for allegedly providing false information to the police in connection with the raid on the house of the Deputy Senate President, Senator Ike Ekweremadu. Mr Ahmed Echoda was arraigned on Tuesday allegedly providing false information to the police, leading to the raid of Senator Ike Ekweremadu’s house. […]

The Nigerian Senate has ordered the Ministry of Petroleum Resources to suspend the planned concession of the Port Harcourt Refinery to Agip and Oando. The Senate said the process should be suspended due to concerns over the transparency of the process. This was sequel to a motion by Sabo Mohammed. Speaking at plenary on Tuesday, […]

The entire Nigeria is up in arms about a perceived theft of Phyno’s song by an American singer named Pia Mia. The record in quote is a song named ‘I’m a fan’ which was released by Phyno in 2016 as part of his “The Playmaker” album. Phyno’s version featured Mr Eazi, and another relative newcomer, […]

Despite the low insurance adoption, penetration and acceptance in the country, Nigeria’s insurance industry is ranked fifth in Africa. The top five insurance markets on the continent are said to have overall market share of 85 percent of premiums across Africa. General-Secretary of the African Insurance Organization (AIO), Ms Prisca Soares, speaking at a press […]

The continued intervention of the Central Bank of Nigeria in the foreign exchange market to strengthen the naira is inevitable due to the volatile nature of the market, the President and Chairman of Council, Chartered Institute of Bankers of Nigeria, Prof. Segun Ajibola, has said. According to him, the FX market requires “constant policing”, adding […]

According to Punch, this was revealed to newsmen by the Minister of Information and Culture, Alhaji Lai Mohammed. The Chibok girls had earlier been allowed by the authorities to meet with their parents amidst joy and celebration. Reports say the school girls were however not allowed to go home with their families. According to Mohammed, […]

Abubakar Momoh, prominent Nigerian civil society leader and director general of the Independent National Electoral Commission’s Electoral Institute, has died. Mr. Momoh, a professor, who sat on the board of several nongovernmental organisations, died early Monday, his associates said. His associate and lawyer, Abdul Mahmoud, confirmed the development. “It’s true, I have just spoken to […]

The Federal Government, yesterday, threatened to shut some land borders in Nigeria, if the smuggling of rice from neighbouring countries continues. Minister of Agriculture and Rural Development, Chief Audu Ogbeh, gave the warning while addressing newsmen in Abuja on some of the Federal Government’s achievements in the agriculture sector in the last two years. He […]


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