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President Bola Tinubu on Thursday hosted his Chadian counterpart, Mahamat Idriss Déby at the Presidential Villa, Abuja. This brief meeting underscored the two countries’ ongoing efforts to strengthen bilateral relations and deepen cooperation in the areas of regional security, trade and economic development. Tinubu received the Chadian leader in a closed session, where the two leaders discussed issues of mutual …

The completion of the Central Bank of Nigeria’s (CBN) 24-month banking sector recapitalization program has triggered new expectations in the financial services sector, with analysts predicting a new phase of reforms focused on credit expansion, customer protection and regional growth. On Wednesday, the apex bank confirmed that 33 banks have successfully met the revised minimum capital requirements, marking a significant …

Investors in the Nigerian equity market lost N3 billion at the close of trading on Thursday. This follows the fall in the prices of shares such as John Holt, Abbey Building and Intenegins, among others, on the stock exchange floor. The benchmark All-Share Index (ASI) fell to 201,698.89 points from 201,703.55 points recorded the previous day. After five hours of …

Nigeria’s currency, the naira, slumped against the United States dollar at the official window on Thursday. Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,308.79/$1, compared with N1,378.70/$1 on Wednesday. This represents a loss of N2.09 for the local currency against the dollar. On the black market, the naira rose N10 against the …

[Press Release] The attention of the Independent National Electoral Commission (INEC) has been drawn to recent public statements by political actors alleging partisan bias, calling for the removal of the Commission’s chairperson due to the Commission’s decision to obey the recent Court of Appeal ruling. While the Commission recognizes the right of stakeholders to express their views, it is critical …

The Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, on Thursday dismissed reports of a rift between him and Oyo State Governor, Seyi Makinde, describing the claims as false and misleading. This came in the context of earlier reports that the monarch had led a boycott of the coronation of three senior chiefs in Ibadan and moved to Lagos to protest …

The Economic and Financial Crimes Commission (EFCC) on Thursday told the Federal High Court in Abuja that 57 properties allegedly linked to former Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), should be permanently handed over to the Federal Government. The EFCC, in a motion for final notice of forfeiture of the property filed by its …

Justice Ijeoma Ojukwu of the Federal High Court, Calabar, on Thursday sentenced the couple to 15 years in prison each for child trafficking. The Cross River Command of the National Agency for the Prohibition of Human Trafficking (NAPTIP) charged Esther and Eyo Udo with four counts of buying and selling babies for exploitation. In his ruling, Justice Ojukwu convicted the …

US intelligence assessments have indicated that Iran is currently unwilling to negotiate an end to the war. According to assessments conducted by several US intelligence agencies, the Iranian regime believes it is in a strong enough position to continue the war and not give in to US demands, the New York Times reported, citing US officials familiar with the assessments. …

The National Chairman of the African Democratic Congress (ADC), David Mark, has demanded the removal of the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, and all national commissioners. Mark made the call on Thursday in Abuja, at a well-attended global press conference, held to address growing concerns about the commission’s role in the country’s electoral process …