By Seun Ibiyemi The Economic and Financial Crimes Commission (EFCC) has recovered 2.3 million litres of Automotive Gas Oil (AGO), valued at N4.485 billion, from Mamemo Ibru of Ibafon Oil and Gas over an alleged case of stealing and criminal conversion. The recovery was made on Monday, August 17, 2026, by the Lagos Zonal Directorate…
The Nigeria Football Federation (NFF) has dismissed Justine Madugu and his technical staff following the Super Falcons’ failure to qualify for the 2027 FIFA Women’s World Cup. The federation announced the decision on Monday, directing members of the Super Falcons’ technical crew to step down with immediate effect. “The Executive Committee of the Nigeria Football…
By Seun Ibiyemi Nigeria’s headline inflation rate eased to 15.43 per cent in July 2026, but households continued to face renewed pressure from rising food prices, which accelerated sharply on a month-on-month basis. The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index report for July 2026 released on Monday. According to…
The Minister of Aviation and Aerospace Development, Festus Keyamo, has formally asked the International Air Transport Association (IATA) to review the three-letter location code “QRW” assigned to Osubi Airport in Delta State. The minister is seeking a new code that more accurately reflects the airport’s official name and geographical location. The request was contained in…
The Transmission Company of Nigeria (TCN) has increased bulk electricity transmission capacity around the Apapa corridor in Lagos following the commissioning of four new high-capacity transmission assets. The projects comprise two 60 MVA, 132/33kV gas-insulated switchgear (GIS) substations at the upgraded Apapa Road Transmission Substation and two new 100 MVA power transformers at the 132/33kV…
By Seun Ibiyemi Chairman of First HoldCo Plc, Femi Otedola, has acquired an additional 147.74 million shares in the financial services group for N20.68 billion through his investment vehicle, Calvados Global Services Limited. The transaction, disclosed in a regulatory filing obtained from the Nigerian Exchange (NGX), involved the purchase of 147,737,699 ordinary shares at N140…
The Federal Government has urged state governments to aggressively expand their internally generated revenue (IGR) and reduce dependence on monthly allocations from the Federation Account to build sustainable and resilient economies. The Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, gave the charge on Monday in Owerri, Imo State, while declaring…
Activity in Nigeria’s interbank foreign exchange market surged on Monday, with total turnover rising by 265.86 per cent to $437.53 million, amid improved liquidity and growing confidence in the naira. The latest turnover was the highest recorded since July 22, 2026, and represented a sharp increase from the $119.59 million traded on Friday. The number…
By Seun Ibiyemi The planned restart of Nigeria’s Port Harcourt and Warri refineries could fail to deliver lasting benefits unless the Federal Government guarantees steady crude oil supplies to the facilities, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned. The association said the success of the refineries should no longer be…
By Seun Ibiyemi The Federal Government has announced plans to evacuate another 83 Nigerians from South Africa amid growing concerns over Xenophobia attacks and anti-foreigner sentiments in the country. The Ministry of Foreign Affairs, in a statement on Monday signed by its spokesperson, Kimiebi Ebienfa, said the returnees are expected to arrive at the Murtala…
