The Nigerian naira is on the verge of breaking the 1,000 naira per dollar barrier, approaching an official record low of 999 naira last week, as reported by Refinitiv data. The naira’s recent depreciation is primarily attributed to its performance in the unofficial market, where it is allowed to trade freely. Reuters has extensively covered Read More…
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Nigeria and 119 UN member states support ‘Humanitarian Truce’ resolution on Israel-Gaza conflict
A non-binding resolution calling for an “immediate durable and sustained humanitarian truce” between Israeli forces and Hamas militants in Gaza garnered support from Nigeria and 119 other UN Member States on Friday. The resolution also demands the “continuous, sufficient, and unhindered” provision of lifesaving supplies and services to civilians trapped in the enclave. This comes Read More…
Tottenham Hotspur extends Premier League lead with 2-1 victory over Crystal Palace
Tottenham Hotspur continued their unbeaten start to the season by securing a 2-1 win over Crystal Palace, propelling them to a five-point lead at the top of the Premier League on Friday. Ange Postecoglou’s side found themselves evenly matched with their London rivals, Palace, during a closely contested opening period. However, the game took a Read More…
Supreme Court upholds President Tinubu’s election win amid opposition’s frustration
Nigeria’s Supreme Court delivered its verdict on Thursday, confirming President Bola Tinubu’s electoral victory and thereby concluding the legal challenge posed by his two principal rivals, who alleged irregularities marred his win. The Supreme Court’s ruling solidifies 71-year-old Tinubu’s mandate to lead Africa’s most populous nation, currently grappling with multifaceted challenges, including double-digit inflation, foreign Read More…
Ex-ICAN boss calls for constitutional amendment to mandate President to present annual audited accounts to NASS
Former president of the Institute of Chartered Accountants of Nigeria (ICAN), Ismaila Muhammadu Zakari, has urged the National Assembly to consider a constitutional amendment that would require the president to present the annual audited accounts before the National Assembly. Zakari’s proposal mirrors the process of seeking legislative approval for the budget, aiming to enhance transparency Read More…
Naira hits record low of 1,300 per dollar on black market
Nigeria’s national currency, the naira, plunged to an unprecedented low of 1,300 against the US dollar on the black market, according to data from online platform abokiFX. This decline can be attributed to reduced trading activity on the parallel market and a scarcity of dollars on the official market. The naira’s value has been in Read More…
China vetoes UN Security Council resolution on Israel-Palestine conflict, citing departure from previous UN resolutions
China exercised its veto power in the UN Security Council to block a draft resolution related to the ongoing Israel-Palestine conflict, stating that the proposed resolution did not align with the principles of previous UN resolutions and contained dangerous elements. China’s permanent representative to the United Nations, Zhang Jun, explained the decision during the vote, Read More…
[Corrigendum] Transparency concerns in Lagos State as audit reports remain unpublished and Auditor-General confirmation lags
In a recent development, we published a story concerning the absence of audit reports from the Lagos State Government since 2019 and the delay in the appointment of an Auditor-General. However, we have since discovered that our initial report contained inaccuracies. The Lagos State Government did, in fact, publish audit reports for the years 2020, Read More…
VP Kashim Shettima urges West African capital markets to combat Ponzi schemes with digital products
The Vice President, Sen. Kashim Shettima, has issued a call to action for West African capital markets to embrace digital products as a means to deter the youth from falling victim to Ponzi schemes. He made this appeal during the opening ceremony of the third West Africa Capital Market Conference (WACMaC) held under the theme Read More…
UNHCR reports 114 million refugees worldwide
The United Nations Refugee Agency (UNHCR) has released a staggering report indicating that as of the end of September, over 114 million individuals across the globe have been compelled to abandon their homes due to the grim realities of conflict, persecution, and human rights violations. The outbreak of war in Ukraine and conflicts in regions Read More…