The naira depreciated to N1,391/$ on Wednesday, extending its recent slide as the U.S. dollar strengthened across global markets amid renewed concerns about inflation and geopolitical uncertainty. Data from the Central Bank of Nigeria (CBN) showed the local currency weakened from N1,383.5/$ recorded on Tuesday, reflecting sustained pressure in the foreign exchange market. The decline aligns with broader global trends, where a firmer dollar—driven by inflation expectations and risk-off sentiment—continues to weigh on emerging market currencies, including the naira. CBN figures indicate that the naira traded within a band of N1,376 to N1,391.50 during the session, with a simple average…
Author: Editor
The Peoples Democratic Party (PDP) faction led by Tanimu Turaki on Wednesday confirmed the start of a fresh reconciliation process aimed at uniting aggrieved blocs within the party. In a statement he personally signed, Turaki—whose group is backed by several party governors—said leaders across divides have begun exploring pathways toward a lasting resolution. “I can unequivocally confirm that, as of today, leaders on both sides have broken the ice and are exploring various pathways towards a lasting resolution,” he said. He urged party supporters to de-escalate tensions and avoid actions that could undermine ongoing peace efforts. “We urge our supporters…
The All Progressives Congress (APC) has said it will adopt a consensus arrangement to elect its national leaders at the party’s convention scheduled for March 27 and 28, 2026, in Abuja. The Assistant Secretary, Media and Publicity, of the APC National Convention 2026, Mary Ikoku, disclosed this on Channels Television’s Sunrise Daily on Wednesday. Speaking on the mode of selecting candidates for elective positions, Ikoku said no definitive position had been taken, noting that political dynamics often vary across levels. “For this convention, I can confirm the party is adopting consensus. As for elective positions, I cannot say, because politics…
A real estate syndicate led by Lawrence Onwukwem and Isaiah Ijele is facing fresh allegations of fraud, theft and illegal evictions, even as members remain in hiding following an earlier conviction. The group, also linked to Davies Ijele, Sodiq Kazeem and Peace Igbo, operates under Green Birch Tech Ltd, and is accused of deceiving unsuspecting Nigerians into renting properties it does not lawfully control. In a new petition, a Lagos resident, Oyinkansola Talabi, alleged that the syndicate carried out a midnight invasion of her apartment at Pebblerock Apartments, Oniru, on February 6, 2026, describing the incident as “state-sponsored terror.” In…
President of Dangote Group, Aliko Dangote, has cautioned that escalating Middle East tensions could deepen economic strain across Africa, urging urgent de-escalation to stabilise global oil markets. Speaking after meeting Bola Ahmed Tinubu in Lagos on Monday, Dangote said while Nigeria is not directly involved, it will inevitably feel the impact of oil price volatility. “The world is a global village. It will affect us, unfortunately, but we pray the situation is resolved,” he said. He warned that a prolonged crisis could worsen fiscal pressures across Africa, where debt burdens are already high. “If it doesn’t de-escalate, we’ll pay heavily.…
The Editor-in-Chief and Managing Director of PUNCH Nigeria, Adeyeye Joseph, has been elected to the Board of the World Editors Forum, the global network of newsroom leaders under the World Association of News Publishers (WAN-IFRA). “We are delighted to welcome Adeyeye to the board. He brings valuable experience and perspective from a region of the world that is often underrepresented in our discussions,” said David Walmsley, Editor-in-Chief of The Globe and Mail and President of the World Editors Forum. Also commenting, Stig Kirk Ørskov, CEO of WAN-IFRA, said: “PUNCH has long been a trusted voice in the Nigerian media landscape,…
Kumasi, Ghana, March 21, 2026 (RESCONI) — The Resource Conservation Initiative (RESCONI) has underscored the importance of forests as one of the world’s most valuable natural assets, critical to environmental sustainability and socio-economic development, particularly in developing countries like Ghana. The United Nations General Assembly proclaimed March 21 as the International Day of Forests. The 2026 theme, “Forests and Economies,” highlights the vital role forests play in driving sustainable economic growth and reducing poverty, reinforcing that economic development and environmental sustainability can go hand in hand. Programme Officer of RESCONI, Akosua Pokua Boakye, stressed the significance of the day on…
Gold futures plunged as much as 7% on Monday morning, erasing all 2026 gains and extending a brutal selloff that has shattered the metal’s status as a geopolitical safe haven. Spot gold dipped below $4,320 per ounce — barely above year-end 2025 levels, as the U.S.-Israel military campaign against Iran dragged into its fourth week. The decline caps one of the sharpest drops in gold’s modern history. The metal has shed roughly 14% since the conflict erupted on February 28 with Operation Epic Fury, a barrage of nearly 900 strikes on Iranian military sites and leadership. Gold had peaked at…
Nigeria has recorded one of the sharpest increases in petrol prices worldwide, underscoring the country’s continued vulnerability to external oil market shocks despite its status as a major crude producer. Data from InvestorSight, citing Global Petrol Prices, shows that petrol prices in Nigeria have surged by 39.5 percent since February 23, 2026—ranking second globally behind Vietnam, where prices rose by 50 percent over the same period. The spike highlights a persistent paradox in Nigeria’s energy landscape: Africa’s largest oil producer remains heavily exposed to fluctuations in international refined product markets due to structural gaps in domestic refining and pricing systems.…
Nigeria’s Trillion-Naira revenue club expanded further in 2025 as BUA Cement, Lafarge Africa, and Nestle Nigeria Plc crossed the N1 trillion mark, joining a growing league of corporate giants benefiting from improved macroeconomic stability, easing inflationary pressures, and price adjustments. According to the audited financial statement from leading listed companies, BUA Cement grew its revenue to N1.18 trillion in 2025, up from N876 billion in 2024; Lafarge Africa recorded N1.07 trillion, rising from N696 billion in the previous year; and Nestle rose to N1.02 trillion from N958 billion. The three firms now sit alongside industry leaders such as MTN Nigeria,…