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Nigeria’s headline inflation rate continued its upward trajectory, reaching a new high of 22.79 percent in June 2023, according to the latest data released by the National Bureau of Statistics on Monday. This marks the sixth consecutive increase in inflation, with the rate climbing from 22.41 percent in the previous month to its current 17-year […]
A High Court in Abuja has nullified 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 judgement on the matter. In a judgment upon an Originating Motion […]
Access Bank Plc, the primary subsidiary of Access Holdings, has successfully finalized its acquisition of a majority stake in Finibanco Angola S.A., an Angolan entity. This significant milestone was disclosed in a notice submitted to the Nigerian Exchange Limited on Thursday. The agreement to acquire Finibanco Angola S.A. was initially announced by Access Holdings on […]
In a strong display of commitment, Nigeria has once again affirmed its dedication to fulfilling its debt service obligations. On Wednesday, the government successfully repaid a $500 million Eurobond that was borrowed in 2013 during the tenure of former President Goodluck Jonathan. A press statement released by the Debt Management Office confirms that the Eurobond, […]
President Bola Tinubu has sent a letter to the National Assembly, requesting an amendment to the 2022 supplementary appropriation Act. The purpose of this amendment is to enable the Federal Government to access N500 billion in order to provide palliatives that will help mitigate the impact of subsidy removal. During the plenary session on Wednesday, […]
During an online meeting with the Nigerian-American Coalition for Justice and Democracy, Mr. Julius Abure, the National Chairman of the Labour Party, revealed that he had received information about the All Progressives Congress (APC) making preparations for a potential re-run of the 2023 presidential election. Abure urged members of the Labour Party to remain vigilant. […]
In a tweet on Tuesday, Femi Adesina, a former spokesman for ex-President Muhammadu Buhari, suggested that the Bishop of the Catholic Diocese of Sokoto, Matthew Kukah, may still hold resentment towards Buhari for not appointing him as Nigeria’s President. Adesina’s tweet came shortly after Kukah made remarks stating that Nigerians had witnessed a severe phase […]
The House of Representatives has called upon the National Universities Commission (NUC) to suspend the implementation of the tuition fee increase in universities. This request was made during a motion put forward by Aliyu Sani Madaki. Madaki highlighted that several universities, including Bayero University, Kano; the University of Nigeria, Nsukka; the University of Uyo; University […]
Ecobank Nigeria Limited has urged First Bank Nigeria (FBN) Holdings to reject the acquisition of shares by Oba Otudeko, the former chairman of Ecobank, due to an alleged debt of N13.5 billion. This development arises just a few days after Otudeko’s affiliated company, Barbican Capital Limited, acquired a 13 percent stake in FBN Holdings, consequently […]
Nigeria, a country with a vibrant entrepreneurial spirit and vast economic potential, has seen both successful and unsuccessful business ventures. However, the challenges faced by businesses in Nigeria are multifaceted and require a comprehensive understanding to foster a more conducive environment for sustainable business growth. In this article, we will delve into some of the […]
