Nigerian central bank governor Godwin Emefiele, currently suspended and detained, faces a 20-count indictment, including the charge of “conferring unlawful advantages,” as revealed by government prosecutors on Tuesday. President Bola Tinubu, a driver of substantial reforms within Africa’s largest economy in over a decade, has initiated an investigation into the central bank under Emefiele’s leadership. Read More…
The National Bureau of Statistics (NBS) has revealed a striking surge in Nigeria’s headline inflation rate, which has vaulted to 24.08% in July 2023. This alarming revelation was underscored by the NBS Consumer Price Index (CPI) and Inflation Report for July, disclosed in Abuja on Tuesday. The report spotlights the primary catalysts of this escalation: Read More…
A Federal High Court in Lagos is poised to deliver a verdict on Thursday concerning the request for the withdrawal of charges against Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria. The application for withdrawal has been tabled by the Federal Government. Justice Nicholas Oweibo has earmarked the specified date subsequent to Read More…
Mali’s military commander, Assimi Goita, announced on Tuesday that he had a telephone conversation with Russian President Vladimir Putin regarding the ongoing situation in Niger. Last month, a junta took control through a coup. Goita shared on the social media platform X (formerly known as Twitter) that Putin emphasized the importance of achieving a peaceful Read More…
In a significant transcontinental legal manoeuvre, two individuals hailing from Nigeria, Samuel Ogoshi (22) and Samson Ogoshi (20), have been successfully extradited to the United States. The move comes in response to grave allegations of engaging in a large-scale sexual extortion operation targeting over a hundred young men and teenage boys. The extradition, which took Read More…
Venus Williams delivered a surprise victory, defeating the 16th-ranked Veronika Kudermetova 6-4 7-5 at the Cincinnati Open on Monday. In another match, unseeded American Sloane Stephens overcame a sluggish start to secure a win against Italy’s Elisabetta Cocciaretto, with a score of 7-5 6-2. Williams, a seven-time Grand Slam winner, showed her veteran prowess by Read More…
A helicopter from the Nigerian Air Force tragically crashed today in the northern-central state of Niger. Reports suggest that the helicopter was targetted by armed bandits during its mission. The crash occurred close to Chukuba village in the Shiroro local government area according to the air force’s spokesperson, Air Commodore Edward Gabkwet. A thorough investigation Read More…
Nigeria’s central bank is poised to shake up the currency markets with imminent measures, as disclosed by Acting Governor Folashodun Shonubi after his meeting with President Bola Tinubu. Discussions centred on strategies to enhance dollar liquidity within the official market. The backdrop to Shonubi’s meeting is the central bank’s recent announcement of a substantial $19 Read More…
Four underage girls were rescued from a motel situated in Totomu village, near the border of Lagos and Ogun states, the Nigeria Security and Civil Defence Corps (NSCDC) Lagos Command announced on Monday. Mr. Usman Alfadarai, the Corps Commander, revealed that the motel was raided at approximately 11:53 a.m. on August 11. The operation was Read More…
On Thursday last week, the Nigerian Naira experienced a significant drop to an unprecedented low against the US dollar in the unregulated market, as reported by currency traders nationwide. In Lagos, traders near the Ikeja area noted an exchange rate of N935.00 per dollar, while in Abuja, dealers reported trading at N950.00 per $1, a Read More…
