There is a growing tension in the Federal Executive Council (FEC), following a directive by President Bola Tinubu that all appointees in his administration nursing elective postitions should resign before March 31, in line with the provisions of the Electoral Act. It was also gathered that President Tinubu, unwilling to openly take a stand ahead of the primaries in the states, has fenced off several ministers and top aides who have been lobbying for his “anointing” before resigning to pursue their 2027 political ambitions. In a move that has sent shockwaves through the political atmosphere in Abuja, the President, it…
Author: Abdoulaye Kay
The European Union (EU) has announced a €288 million support package for Nigeria, targeting key sectors including healthcare, agriculture, finance, migration, climate, and digital public infrastructure. The funding was unveiled by the EU delegation to Nigeria and ECOWAS during an EU–Nigeria ministerial news conference in Abuja, marking a new phase under the EU–Nigeria Partnership framework. Mr. Stefano Signore, Director-General for International Partnerships at the European Commission, said the initiative reflects an acceleration of EU investments in Nigeria under its Global Gateway strategy. According to him, while progress has been made, more is expected through the strategy, particularly in the health…
The success of ongoing reforms by the Central Bank of Nigeria (CBN) may hinge on whether the naira can sustainably strengthen beyond the critical N1,300/$ threshold—a level widely regarded by analysts as a psychological and structural benchmark. The naira is currently navigating a complex environment shaped by improving macroeconomic fundamentals on one hand, and rising external risks—particularly geopolitical tensions in the Middle East—on the other. ALSO READ CBN tightens grip on inflation, targets stability despite global risks Since the start of the year, the Nigerian currency has ranked among the better-performing emerging market currencies, supported by a stronger balance of…
The Central Bank of Nigeria (CBN) has set a medium-term inflation target of 6–9 per cent as it accelerates its transition to a full inflation-targeting monetary policy framework, while warning that global shocks could still disrupt progress. The apex bank disclosed this in a statement issued following a strategic engagement with the Nigerian Economic Society (NES) and members of the academic community on March 18, 2026, during which it outlined its reform agenda and macroeconomic outlook. Deputy Governor in charge of Economic Policy, Dr Muhammad Sani Abdullahi, stated that the shift to inflation targeting signifies a move toward a more…
United States President, Donald Trump has announced a temporary halt to planned military strikes on Iranian energy infrastructure, citing what he described as “very good and productive” discussions with . In a statement posted early Monday on his Truth Social platform, Trump said the decision followed two days of engagement between Washington and Tehran aimed at easing tensions and finding a pathway to a broader resolution of hostilities in the Middle East. “The United States and Iran have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the…
Brent crude hits four-year high amid U.S.-Israel war on Iran, Strait of Hormuz blockade, and attacks on Gulf infrastructure
A U.S. jury has found Elon Musk liable for losses incurred by Twitter investors, ruling that his public statements during the company’s $44 billion acquisition influenced the platform’s share price. The verdict, delivered on Friday at the U.S. District Court for the Northern District of California, concluded that Musk’s posts—particularly one indicating the deal was “temporarily on hold”—had a material impact on investors. However, the jury stopped short of determining that he intentionally sought to manipulate the market. Lawyers representing shareholders of Twitter argued that Musk’s remarks were strategic, aimed at exerting pressure on the company and lowering its valuation…
Providus Bank has confirmed that it has exceeded the Central Bank of Nigeria’s (CBN) revised minimum capital requirement for regional commercial banks, raising its capital base to N65 billion. The bank disclosed this in a statement issued to customers, clarifying recent media reports and reaffirming its compliance with the ongoing recapitalisation exercise in the banking sector. Under the CBN’s recapitalisation framework, regional commercial banks are required to maintain a minimum capital base of N50 billion. Providus Bank stated that it has met this threshold since January 2025 and has now surpassed it. “Providus Bank confirms that it has met its…
Young agripreneurs, policymakers, and development partners gathered in Kigali on March 14 for a youth-led dialogue on the future of Africa’s food systems, highlighting how stronger agri-food systems can drive job creation, enterprise development, and innovation for the continent’s rapidly growing youth population. The conversation, themed “Who Gets to Shape Africa’s Food Future?”, was hosted by the Alliance for a Green Revolution in Africa (AGRA) in partnership with Global Citizen on the sidelines of Move Afrika. The dialogue brought together young entrepreneurs, ecosystem actors, and policymakers at Select Boutique Hotel & Restaurant for an open discussion on opportunities and barriers…
The Senator representing Borno South, Ali Ndume, has expressed confidence that the ruling All Progressives Congress (APC) will retain power at the centre in the 2027 presidential election. Ndume said the opposition coalition rallying under the African Democratic Congress (ADC), involving Atiku Abubakar, Peter Obi and Rotimi Amaechi, has yet to present any fresh ideas capable of unseating President Bola Tinubu. Speaking on Politics Today, a programme on Channels Television, on Thursday, the lawmaker said while the opposition figures remain prominent, they have not articulated a distinct alternative agenda. “I am not worried because nobody is coming up with something…