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In a bid to curb rising inflation, the Central Bank of Nigeria (CBN) has raised its benchmark interest rate, the Monetary Policy Rate (MPR), to a record high of 26.75%. This is an increase of 150 basis points from the previous rate of 24.75%, which marked the third consecutive increase this year. CBN Governor Olayemi Cardoso announced this after the …

Mele Kyari, Group Chairman of the Nigerian National Petroleum Corporation (NNPC), has strongly denied the allegations made by Aliko Dangote, President of the Dangote Group. In a statement released on Tuesday via his X account, Kyari responded to claims that NNPC staff were setting up a petroleum blending plant in Malta, potentially hampering local production. Kyari has vehemently denied owning …

The Federal High Court in Abuja on Monday, July 22, dismissed a suit filed by the family of the late Head of State, Sani Abacha, challenging the Nigerian government’s revocation of his property in the Maitama district of Abuja. The suit, filed by Maryam Abacha, the widow of the late dictator, and her eldest surviving son, Mohammed Abacha, challenged the …

Claiming:Nigeria loses $50 million to oil theft every week. The indictment: There is no reliable data to support these claims. Full Text: A Facebook user claims that Nigeria is losing $50 million to oil theft every week. The social media user made the claim in response to a new loan from the Nigerian government. Screenshot of claim on Facebook Ripples …

Former Minister of Education, Oby Ezekwesili has weighed in on the ongoing feud between Alhaji Aliko Dangote and the Dangote Group on one hand and the Nigeria National Petroleum Company Limited, on the other. The chaos began when Farouk Ahmed, chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accused the newly built Dangote refinery and other …

For too long, the Edo people have been denied a voice in governance. It is time to elect a leader who truly cares, a leader with an empathetic and servant heart. That leader is the distinguished Senator Monday Okpebholo. With the APC as our party, we have a unique opportunity to make a difference. On September 21, let us exercise …

The Federal Government has reiterated its tough stance against financial institutions that fail to comply with windfall taxes on foreign exchange profits earned in 2023. This came as the Minister of Finance, Wale Edun, and the Chairman of the Federal Inland Revenue Service (FIRS), Zack Adediji, met with the National Assembly finance committee to discuss amendments to the 2024 Finance …

  US Secret Service director Kimberly Cheatle was grilled by a bipartisan House Committee over the attempted assassination of Donald Trump. The grilling of the Secret Service chief has triggered a strong bipartisan demand for Cheatle’s resignation Cheatle said the shooting was “the most significant operational failure at the Secret Service in decades” Cheatle faced questions from lawmakers for nearly …

Former Senate President Ali Ndume, despite being dismissed from office, continues to speak out against what he sees as irregularities in the current government. Borno Senator on Monday, reiterated his claim that President Bola Tinubu was inaccessible to lawmakers and party chieftains. Ndume was sacked last Wednesday and replaced by Senator Tahir Monguno, following a directive from the national chairman …

Minister of State for Petroleum Resources [Oil] Heineken Lokpobiri has intervened in the ongoing dispute between Dangote Group Chairman and CEO, Aliko Dangote and regulatory authorities in the oil and gas sector over issues surrounding the Dangote Refinery and Petrochemical Plant. Dangote and Nigeria’s oil industry regulatory authorities such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and …