At least 267,000 people have been forced to evacuate their homes as devastating wildfires continue to ravage parts of southwestern France and central Spain, overwhelming firefighters and prompting military intervention. In France, about 197,000 people have been evacuated from areas around Bordeaux, including popular holiday destinations, in what the country’s Interior Minister described as potentially the largest peacetime evacuation in the nation’s history. The French government has deployed military personnel and equipment to support exhausted firefighters battling the blazes, which have continued to spread despite round-the-clock efforts to contain them. In Spain, about 70,000 people have fled villages west of…
Author: Abdoulaye Kay
The total currency in circulation in Nigeria declined to N5.52 trillion in June 2026, reflecting a moderation in cash usage during the month, according to data from the Central Bank of Nigeria (CBN). The latest figures showed that currency in circulation fell by N170 billion, or 2.99 percent, from N5.69 trillion recorded in May 2026. The decline came after currency in circulation rose by N43.59 billion, or 0.77 percent, between April and May, indicating a reversal of the previous month’s upward trend. Despite the month-on-month decline, the June figure remained higher than the corresponding level recorded a year earlier, pointing…
The naira extended its gains against the US dollar in the official foreign exchange market on Thursday, supported by improved dollar liquidity and stronger external reserves. Data from the Central Bank of Nigeria (CBN) showed that the local currency appreciated by N1.87, with the dollar closing at N1,367.76 at the Nigerian Foreign Exchange Market (NFEM), compared with N1,369.63 recorded on Wednesday. The movement represents a marginal 0.14 percent gain for the naira amid improving conditions in the foreign exchange market. However, the naira weakened in the parallel market, where the dollar rose to N1,407 on Thursday from N1,400 the previous…
The Nigerian naira appreciated against the euro on Friday, closing at N1,557 to €1, compared with N1,570 recorded in the previous trading session, according to the latest data from the Central Bank of Nigeria (CBN). The latest movement represents a N13 gain for the naira against the European currency, reinforcing the relative stability observed in the foreign exchange market in recent weeks. The EUR/NGN exchange rate had peaked at around N1,774/€1 in January 2026 before retreating to a multi-month low of approximately N1,555/€1. Since the beginning of July, the pair has traded within a relatively narrow range of about N1,561…
BUA Cement Plc has reported a sharp increase in profitability for the first half of 2026, with profit before tax (PBT) rising by 79% to N384.44 billion, up from N214.80 billion recorded in the corresponding period of 2025. The cement manufacturer disclosed the performance in its unaudited H1 2026 financial results, highlighting a strong earnings trajectory amid continued growth in the company’s operations. Profit after tax also climbed to N324.88 billion during the six months, compared with N180.90 billion recorded in H1 2025, while earnings per share increased from N5.34 to N9.59. The latest results reinforce BUA Cement’s strong profitability…
Members of the minority caucus in the House of Representatives on Thursday staged a walkout during plenary in protest against the procedure adopted by the lawmakers to pass the constitutional amendment bill seeking to establish state police in Nigeria. The walkout, led by the Minority Leader, Fred Agbedi, came after the House approved the bill despite objections from opposition lawmakers, who alleged breaches of the 1999 Constitution and the Standing Orders of the House. The minority caucus said it was not opposed to the establishment of state police but rejected what it described as a disregard for due process in…
The Joint Admissions and Matriculation Board (JAMB) has begun registration for candidates seeking admission into the Nigeria Certificate in Education (NCE) and non‑technological agricultural programmes after the Federal Government waived the UTME requirement for those courses. The announcement was contained in a statement on Thursday signed by JAMB’s Acting Director of Public Affairs and Protocol, Dr. Fabian Benjamin. The board said it has put in place a structured admission process to ensure only qualified candidates are admitted under the new policy, preserving programme quality despite the removal of the UTME. “The Federal Government has waived the requirement for candidates seeking…
The National Agency for Food and Drug Administration and Control (NAFDAC) has commenced a nationwide enforcement operation to remove alcoholic beverages packaged in sachets and polyethene terephthalate (PET) bottles with a capacity of less than 200 millilitres from circulation. The exercise, conducted across Nigeria’s six geopolitical zones, aims to enforce the Federal Government’s ban on the production, importation, distribution, and sale of prohibited alcoholic products. NAFDAC said the operation follows the closure of manufacturing facilities found to have violated the ban, with enforcement teams deployed to markets, motor parks, retail outlets, bars and other distribution channels to identify and seize…
The Senate has confirmed the appointment of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON). Yuguda’s confirmation followed a nomination by President Bola Tinubu, who forwarded his name to the Senate on July 9, 2026, in line with the provisions of the AMCON Act. The Senate Committee on Banking, Insurance and Other Financial Institutions had earlier screened Yuguda and cleared him for the position. During the screening, lawmakers described the nominee as eminently qualified, noting his previous experience and appointments to key positions in Nigeria’s financial sector. The committee subsequently allowed him to…
Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has completed a private equity placement that raised approximately $2.5 billion in new equity, in what the company described as a landmark transaction. The capital raise is believed to be Africa’s largest publicly disclosed primary equity private placement and marks the first equity funding round involving external investors beyond the company’s legacy shareholder base. According to a statement issued by the company, the transaction reflects strong investor confidence in the refinery’s long-term growth strategy, operational performance and prospects as a major energy and industrial enterprise. The proceeds will be used to support the…