News

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), on Friday cast doubt on the effectiveness of Nigeria’s recent economic reforms, highlighting weaknesses in their implementation. In a statement released Friday via X, Moghalu acknowledged the unsustainability of petrol and foreign exchange subsidies. However, Moghalu acknowledged the need for these reforms but faulted the government’s approach …

The Jigawa state government has dissolved the executive councils in the state’s 27 local government areas. The terms of elected officials expire on Friday. Commissioner for Local Government and Community Development, Ahmed Garba MK, in a statement issued on Friday ordered the Directors of Administration and Public Service to take over the administration of the local councils. This move effectively …

Tinubu approves N50,000 subsidy for 3.6 million Nigerian families. President Bola Tinubu has approved a grant under the National Housing and Household Support Program for 3.6 million Nigerian families. This initiative will provide N50,000 to 100,000 families in each state for three months. The disbursement of Tinubu’s subsidy to families will take place over three months, according to presidential spokesperson, …

The Court of Appeal, Lagos, on Friday upheld the conviction of Nollywood actor, Olanrewaju James alias Baba Ijesha, for sexual assault. Judge Oluwatoyin Taiwo of the Lagos State Special Offenses Court, Ikeja, on July 15, 2022 sentenced the film star to five years in prison for sexually abusing a 14-year-old minor in the state. He was indicted by the state …

Binance tightens account usage rules. Monitoring of user accounts is strengthened (all suspicious activities are carefully examined). Exchange representatives promise rewards for reports of “improper actions with accounts” (e.g., account selling). The new security measures aim to “prevent misuse of account features and improve the integrity of the platform.”

President Bola Tinubu has approved the appointment of eight new Federal Permanent Secretaries to fill existing and upcoming vacancies in the civil service. The Special Adviser on Media and Publicity to the President, Ajuri Ngelale, disclosed this in a statement in Abuja on Friday. He said the new permanent secretary was appointed after a rigorous selection process by the Office …

“It’s better to date a man in trouble than to date a multi-millionaire who has blood on his hands” – Nollywood Actor Zubi Michael “It’s not all about the money, the multimillionaire you admire may have a temple to evil things in his house. He may have scammed someone and the depressed person took his own life, but you want …

The Nigerian equity market maintained its positive performance with investors making a profit of N374 billion at the close of trading on Friday. This follows the growth in share prices of UCAP, LASACO, and CWG, among others, on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization rose to N56.6 trillion from N56.2 …

In an effort to deepen the foreign exchange market, increase liquidity and achieve convergence in exchange rates, the Central Bank of Nigeria (CBN) has given the green light to Money Deposit Banks (DMB) to deposit their excess foreign currency notes in its branches in Lagos and Abuja . This approval follows increasing demand for DMBs to deposit their foreign exchange …

  The burial of Nollywood actor John Okafor, better known as Mr Ibu, has taken place in his hometown of Amuri, Nkanu West Local Government Area of ​​Enugu State. The actor passed away in March 2024 in Lagos due to cardiac arrest, following complications from the amputation of a leg. Mr Ibu, born and raised in Enugu, gained recognition in …