Nigeria’s central bank governor, Olayemi Cardoso, has warned that the escalating conflict involving the United States, Israel and Iran could shape future interest-rate decisions, as rising oil prices risk stoking inflation despite boosting export earnings. Cardoso, speaking in an interview with the Financial Times, said geopolitical shocks are most likely to affect Nigeria through energy prices and global financial conditions—two critical variables policymakers are tracking ahead of a key monetary policy meeting in May. “Higher oil prices can support export earnings and strengthen the balance of payments, but they can also feed into domestic inflation through fuel, transport and imported…
Author: Abdoulaye Kay
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has clarified the circumstances surrounding the detention of former Kaduna State Governor, Nasir El-Rufai, dismissing media reports that it sought a fresh extension of his remand. In a statement by its Head of Media and Public Communication, John Okor Odey, on Tuesday, the Commission urged the public to rely on verified official information, warning against the spread of inaccurate reports regarding the ongoing legal proceedings. The ICPC explained that its court appearance on March 17, 2026, was not to request a new remand order, but to respond to an application…
The Central Bank of Nigeria (CBN) has underscored the need for deliberate support systems to advance women’s leadership, as it commemorated this year’s International Women’s Day in Abuja. The event, hosted by the CBN Deputy Governor, Corporate Services, Emem Usoro, spotlighted the importance of moving beyond recognition to concrete action that empowers women in the workplace and beyond. Speaking on the theme of the celebration, Usoro stressed that meaningful progress for women requires intentional structures that promote mentorship, collaboration, and shared opportunities. She noted that sustainable advancement is achieved when women actively support one another through guidance and inclusion. Usoro…
Senegal’s football authorities have vowed to challenge a controversial decision by the Confederation of African Football (CAF) that stripped the country of its Africa Cup of Nations (AFCON) title, describing the ruling as “unjust, unprecedented and unacceptable.” The Senegalese Football Federation (FSF) said it would file an appeal “as soon as possible” before the Court of Arbitration for Sport (CAS) in Lausanne to defend its rights and the interests of Senegalese football. “The Senegalese Football Federation condemns this unjust, unprecedented and unacceptable decision, which brings African football into disrepute,” the body said in a statement. ALSO READ Morocco awarded 2025…
The naira strengthened to N1,345 per dollar at the official foreign exchange market on Tuesday, marking its highest level in one month and extending its recent recovery trend. Data from the Central Bank of Nigeria (CBN) showed the local currency improved from N1,355/$ recorded on Monday, reflecting sustained gains in the FX market. Tuesday’s closing rate represents the naira’s strongest performance since February 18, 2026, when it settled at N1,340/$. The development points to growing stability and improved liquidity conditions in the market. During the trading session, the currency traded within a relatively narrow band of N1,340/$ to N1,355/$, with…
TrafficGuard, an AI-driven digital ad verification and invalid traffic (IVT) prevention platform, has appointed Scott Thomson as Head of AI to accelerate its next phase of innovation. Thomson will lead the integration and execution of AI across the company’s platform, building on over eight years of machine learning deployment that has positioned TrafficGuard at the forefront of ad fraud detection. He brings more than a decade of experience spanning roles at Google, Adobe, Telstra, and as the founder of consultancy firm SCRYPTID. The company was among the early adopters of machine learning for real-time IVT detection, analysing billions of data…
Governor Charles Soludo has been sworn in for a second term in office as the leader of Anambra State, in a ceremony attended by top political figures across the country. The inauguration, held on Tuesday at the newly renovated Alex Ekwueme Square in Awka, marked the formal commencement of Soludo’s second tenure. He took the oath of office alongside his deputy, Onyeka Ibezim. Among dignitaries present at the event were Vice President Kashim Shettima, former Presidents Olusegun Obasanjo and Goodluck Jonathan, as well as elder statesman and former Commonwealth Secretary-General Emeka Anyaoku. Also in attendance were several governors, including Siminalayi…
The Nigerian equities market hit a historic milestone on Monday, with the NGX All-Share Index (ASI) crossing the 201,000-point threshold for the first time. The benchmark index advanced by 1.55 per cent to close at 201,474.89 points, up from 198,407.30 points recorded in the previous session. Market capitalisation also surged to N129.329 trillion from N127.360 trillion, translating to a net gain of N1.97 trillion for investors. The rally was underpinned by strong buying interest and broad-based gains across key sectors, reinforcing bullish sentiment in the market. ALSO READ Naira firms to N1,355/$, hits 4-week high on sustained gains Month-to-date (MTD)…
The naira extended its appreciation on Monday, closing at N1,355/$ at the official foreign exchange window, according to data from the Central Bank of Nigeria (CBN). The latest rate marks an improvement from N1,363.5/$ recorded on Friday, underscoring a steady recovery trend that has gathered pace over recent trading sessions. Monday’s close represents the currency’s strongest level in four weeks, last seen on February 23, 2026, when it settled at N1,353.5/$. This reflects a notable rebound from the previous Monday’s close of N1,425/$ — its weakest level since January 12. Trading data showed the naira moved within a relatively narrow…
BUA Cement Plc’s share price rally has extended into 2026, lifting the company’s market valuation as investors bet on its earnings strength and growth prospects. The stock closed 2025 at N178.50 but has since climbed to about N270, representing a gain of roughly 51.3 per cent so far this year. The latest surge follows a strong run in 2025 when the company’s share price rose about 92 per cent, reversing the 4.25 per cent decline recorded in 2024. As the stock price climbed, BUA Cement’s valuation also expanded. Based on trailing twelve-month earnings per share of N10.51, the company now…