By Seun Ibiyemi Nigeria recorded a major rebound in foreign direct investment (FDI) inflows in 2025, rising by 148.2 per cent to $4.005 billion from $1.614 billion in 2024, but the country must urgently diversify investment beyond oil and gas transactions to achieve sustainable economic transformation. This was contained in the latest BACITI Economic Insight…
The Nigerian Exchange Group (NGX) has disclosed that the value of listed equities on the Nigerian capital market has risen from about N30 trillion in 2023 to N160 trillion, with expectations that the figure could climb further to N230 trillion before the end of 2026. The disclosure was made when the Board and Management of…
By Seun Ibiyemi The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered the creation of two fictitious government agencies allegedly established by Adeniyi Adeyemi Mathew, the purported Director General of the fake Presidential Foreign Investment Promotion Council (PFIPC). ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, disclosed this on Thursday while presenting the…
By Seun Ibiyemi President Bola Ahmed Tinubu has directed the Economic and Financial Crimes Commission (EFCC) to immediately return to court to vacate an order freezing the bank accounts of the Osun State Government, citing concerns over the timing of the action just days before the state’s governorship election. In a statement issued on Thursday,…
By Seun Ibiyemi The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has reaffirmed the agency’s commitment to building an efficient, transparent and globally competitive maritime administration through sustained reforms, strategic partnerships and policies that will strengthen Nigeria’s maritime industry. Mobereola made the pledge while receiving the leadership of…
By Seun Ibiyemi The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, mni, has urged the Central Bank of Nigeria (CBN) to reduce the Monetary Policy Rate (MPR) to below 20 per cent, warning that the current high-interest-rate regime is constraining access to finance and undermining the competitiveness of Nigeria’s manufacturing…
The purported Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi, has rejected plans by the House of Representatives ad hoc committee investigating the controversial council to question him behind closed doors, insisting that any appearance before lawmakers should be conducted in public. Adeyemi, through his lawyer, Ademola Oyedokun, said on Wednesday that…
The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds under investigation and was not connected to the forthcoming governorship election in the state. In a statement issued on Wednesday, the…
By Wale Afolabi The Nigerian Army has declared the Governor of the Islamic State West Africa Province (ISWAP), Abu Musa Al-Mangawi Baa Shuwa, also known as Wali, and his deputy, Amirul Jaish Muhammad Jidda, wanted following a major intelligence breakthrough during recent counter-terrorism operations in the Lake Chad region of Borno State. The Acting Military…
By Seun Ibiyemi A political storm has erupted over the decision of the Economic and Financial Crimes Commission (EFCC) to freeze the bank accounts of the Osun State Government, with opposition parties accusing the Federal Government of weaponising state institutions ahead of the August 15 governorship election, while the ruling All Progressives Congress (APC) defended…
