More than 40 people, including security operatives, vigilantes and civilians, are feared to have been killed following a coordinated terrorist attack on Bagna, Erena and Yelwa communities in Shiroro Local Government Area of Niger State. Sources indicated that the assault, which began with an ambush on a security camp, claimed the lives of about 30 special forces personnel and operatives of secret security units, alongside at least 10 vigilantes. However, the actual death toll is believed to be significantly higher. Residents said the attackers stormed the Bagna community early Tuesday morning, forcing many to flee as houses were set ablaze.…
Author: Abdoulaye Kay
Financial and energy sector experts have welcomed the Central Bank of Nigeria’s (CBN) directive granting International Oil Companies (IOCs) full access to their export earnings, describing it as a pivotal move to revive investment in Nigeria’s upstream petroleum sector. More than two years ago, the CBN restricted IOCs from immediately remitting 100% of their foreign exchange (FX) proceeds to parent companies abroad. Under the previous regime, only 50% could be repatriated instantly, while the balance was delayed by 90 days. However, in a March circular issued by the apex bank’s Trade and Exchange Department, the CBN approved full repatriation of…
The Nigerian naira closed the past week at N1,591.5 per euro, appreciating from a weekly low of N1,599/€, according to the Central Bank of Nigeria (CBN). The local currency showed relative stability and mild gains against the euro, signaling a shift in trend. Analysts note that the naira has transitioned from a “free-fall” phase to a “descending channel,” indicating gradual strengthening as the euro’s value in naira terms declines. Recent price action suggests the naira’s outlook against the euro has improved from neutral to marginally bullish. However, the euro recorded a slight rebound after the naira touched a quarterly high…
The Economic Community of West African States (ECOWAS) has opened applications for multiple positions across its institutions, with a deadline of April 30, 2026. In a notice published on its official website, the regional bloc invited qualified candidates from member states to apply for roles spanning administration, finance, trade, infrastructure, health, telecommunications, legal affairs, and security. The recruitment covers dozens of positions across several countries. While many roles are based in Abuja, others are located in Dakar, Conakry, Addis Ababa, and Monrovia. Available positions range from office aides and programme assistants to accountants, legal officers, political advisers, and senior roles…
The management of The Wells Carlton Hotel & Apartments, Asokoro, Abuja, has issued a strong disclaimer distancing itself from alleged sale, lease, or third-party management claims involving the property, describing them as fraudulent. In a statement released through the media consultant, Mr. Courage Moses, the management reaffirmed that the luxury hotel remains solely owned by the company and is not available for sale. “The Wells Carlton Hotel & Apartments belongs exclusively to the family of the late Dr. Wells Idahosa Okunbo,” Moses said. “The property is not for sale, and no individual or group has been authorised to transact any…
A socio-cultural organisation representing Lagos State indigenes, the De Renaissance Patriots Foundation, has reiterated its position that the leadership of Lagos State from 2027 must be in the hands of its indigenous people. In a statement titled “LAGOS IS NOT AN ORPHAN: A CALL FOR THE RESTORATION OF INDIGENOUS LEADERSHIP,” with the rider “Lagos State Must Be Governed by Its Indigenes, Not by Pretendians,” the foundation emphasised the need for governance that reflects the state’s ancestral roots and heritage. The statement, released by the foundation’s Media Office on Thursday, April 2, 2026, addressed ongoing political discussions concerning the future leadership…
Nigeria’s economic expansion strengthened in March 2026, with the composite Purchasing Managers’ Index (PMI) rising to 53.2 points, signalling sustained growth for the sixteenth consecutive month. Data published by the Central Bank of Nigeria (CBN) showed continued expansion in aggregate economic activity, reflecting resilience across key sectors despite prevailing macroeconomic pressures. Out of 36 subsectors surveyed, 31 recorded growth, underscoring broad-based improvements in business conditions and a steady recovery trajectory across the economy. However, the pace of expansion moderated slightly compared to the previous month. The CBN noted that while all major sectors—industry, services, and agriculture—remained in expansion territory, the…
African banks are entering a new phase of transformation, as the focus shifts from aggressive capital raising to the more complex task of delivering sustainable returns in an increasingly volatile and interconnected financial landscape. This transition comes at a time when regulators across the continent are grappling with rising cross-border risks, rapid financial integration, and the growing influence of technology on financial systems. At the centre of this shift is a clear message from policymakers: stronger capital buffers alone are no longer sufficient; banks must now prove their ability to translate resilience into profitability. Speaking at the 4th Annual IMF/AFRITAC…
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has warned that the global trading system is undergoing its most severe disruption in eight decades. Speaking on Thursday at the opening of the WTO ministerial conference, Okonjo-Iweala said the current challenges reflect a fundamental shift in the global order. “The world order and the multilateral system we used to know has irrevocably changed,” she said. “We cannot deny the scale of the problems confronting the world today.” Trade ministers from the WTO’s 166 member countries are meeting in Yaoundé amid deep divisions and mounting global economic uncertainty, much of…
An Abuja High Court on Thursday issued a bench warrant for the arrest of the factional National Chairman of the Peoples Democratic Party (PDP), Senator Tanimu Turaki (SAN), over his failure to appear for arraignment. Justice Peter Kekemeke granted the order after Turaki did not attend court despite being duly served with the charge and a hearing notice. The Inspector-General of Police (IGP) had charged Turaki with allegedly providing false information to the police. ALSO READ PDP factions ‘break the ice’, opt for reconciliation When the matter was called, prosecution counsel, Usman Rabiu, informed the court that the day’s proceedings…