A 32-year-old man, Godwin Udoka, was on Monday arraigned before a Chief Magistrates’ Court in Badagry, Lagos, over the alleged theft of company property valued at N1.2 million. Udoka, whose residential address was not disclosed, is facing charges bordering on stealing and conduct likely to breach public peace. He, however, pleaded not guilty to the…
The Socio-Economic Rights and Accountability Project has called on President Bola Ahmed Tinubu to order a full investigation into the alleged diversion of ₦2.9 billion from key government agencies. In a letter dated April 11, 2026, signed by its Deputy Director, Kolawole Oluwadare, the organisation urged the President to direct the Minister of Communications, Innovation…
Global ratings agency Fitch Ratings has affirmed Nigeria’s sovereign credit rating at ‘B’ with a Stable Outlook, citing ongoing economic reforms, rising foreign reserves and improving macroeconomic conditions. The development was disclosed in a statement by Kamorudeen Yusuf, Personal Assistant on Special Duties to President Bola Ahmed Tinubu. According to the statement, Nigeria’s gross external…
Nigeria’s cash liquidity cycle showed signs of normalisation in February 2026, with currency held outside the banking system declining slightly, according to the Central Bank of Nigeria. Data from the apex bank’s latest Money and Credit Statistics report revealed that currency outside banks fell by 0.058 per cent to N5.20 trillion, down from higher levels…
By Seun Ibiyemi Nigeria’s crude oil and condensate production declined to an average of 1.51 million barrels per day (mbpd) in February 2026, even as the Nigerian National Petroleum Company Limited recorded a significant increase in revenue remittances to the Federation Account. According to the company’s February Monthly Report Summary, statutory remittances rose sharply to…
By Seun Ibiyemi Ecobank Nigeria, in partnership with the Nigeria Chess Federation, has announced plans to host the third edition of the Ecobank National Schools’ Team Chess Championship in May 2026. The organisers disclosed this in a statement on Saturday, noting that the competition is designed to promote critical thinking, discipline and intellectual development among…
By Seun Ibiyemi The Nigerian Railway Corporation (NRC) has called for improved rail connectivity to seaports as part of efforts to enhance efficiency in Nigeria’s freight and logistics system. The Managing Director of the corporation, Kayode Opeifa, made the call in a statement issued in Lagos, warning that ongoing maritime reforms and investments in deep…
By Seun Ibiyemi The Nigerian Exchange Limited (NGX) recorded a bullish performance last week, as investors gained N1.36 trillion following a 1.03 per cent rise in the All-Share Index. Market data showed that the All-Share Index advanced to 203,770.43 points from 201,698.89 recorded in the previous week, while market capitalisation increased by 1.05 per cent…
By Seun Ibiyemi The Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Christianah Mojisola Adeyeye, has stressed that robust regulatory systems and deliberate government policies are critical to building a thriving pharmaceutical sector in Nigeria. Adeyeye made the remarks during the commissioning of a new ultra-modern facility by SAM Pharmaceuticals…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has strongly criticised the World Bank over its recent recommendation that Nigeria should increase the importation of petroleum products and food to address supply-side constraints. In a statement issued on Sunday by the Chief Executive Officer of CPPE, Dr. Muda Yusuf described the…
