Former Minister of Communications and Digital Economy, Isa Ali Pantami has withdrawn from the All Progressives Congress (APC) governorship primary election in Gombe State, alleging violations of the Electoral Act 2026 and a lack of transparency in the conduct of the exercise. Pantami announced his withdrawal on Tuesday through a statement issued by Barrister Ibrahim M. Attahir on behalf of the Pantamiyya Movement. According to the statement, the former minister decided to pull out of the governorship race scheduled for May 21, 2026, after what he described as persistent failures by the party to provide critical information required for a…
Author: Newsdesk
The Securities and Exchange Commission (SEC) has announced that the transition to a T+1 settlement cycle for equities and commodities transactions will take effect from June 1, 2026. The trade settlement cycle is the period between the execution of a trade and the final transfer of securities to the buyer and cash to the seller. Under the new T+1 cycle, settlement will occur one business day after the trade date. The commission said the move is part of its ongoing market modernisation initiatives aimed at promoting an efficient, fair, and transparent capital market. According to SEC, the shift to T+1…
The Debt Management Office (DMO) has raised about N614.5 billion from the Federal Government’s May 2026 bond auction, following strong investor participation across two reopened instruments. According to the auction results released after the exercise held on May 18, 2026, the Federal Government offered two bonds — the 22.60% FGN January 2035 and the 16.2499% FGN April 2037 — each with an initial offer size of N300 billion. Settlement is scheduled for May 20, 2026. Investor demand was skewed in favour of the longer-dated April 2037 bond, which attracted higher subscriptions, including significant non-competitive bids, resulting in a larger allotment…
Africa’s first Institute of Sports Management and Development Studies (ISMDS) has been approved by the Nigerian government, marking a major step toward professionalising sports administration and unlocking economic opportunities across the continent, founders say.
Analysts have projected that the Central Bank of Nigeria (CBN) will likely retain the 26.5% Monetary Policy Rate (MPR) at its next Monetary Policy Committee (MPC) meeting scheduled for Tuesday and Wednesday in Abuja. The expectations were shared during Nairametrics’ Drinks and Mics podcast, where market analysts pointed to persistent inflationary pressures, exchange rate concerns, and global geopolitical risks as key reasons the apex bank may maintain its current policy stance. The CBN is expected to review inflation trends, liquidity conditions, exchange rate stability, and broader macroeconomic developments at its 305th MPC meeting. What analysts are saying Analysts at the discussion argued…
The Central Bank of Nigeria is expected to maintain or raise its benchmark Monetary Policy Rate (MPR) at its upcoming Monetary Policy Committee (MPC) meeting, following its 50-basis-point rate cut to 26.5% in February 2026. The February decision was supported by easing inflation, exchange rate stability, stronger external reserves, and improving macroeconomic conditions. However, since then, external developments, particularly renewed tensions in the Middle East, have introduced fresh inflationary and external sector risks. These shifting conditions are likely to make the MPC more cautious, favouring a pause or modest tightening to assess the direction of key economic indicators before considering further easing. Reasons MPR may be held or raised 1. Inflation has resumed…
Some experts have expressed concern that China’s zero-tariff regime on exports from Africa could encourage the export of unprocessed minerals and undermine Nigeria’s value addition policy. The experts spoke to reporters on Tuesday in Abuja. Ashenews reports that the zero-tariff policy, which took effect from May 1, aims to create new export and industrialisation opportunities for Africa amid rising global protectionism. Under the new arrangement, China has extended zero-tariff treatment to all 53 African countries with which it has diplomatic relations. Prior to this, it had already removed tariffs on 100 per cent of tariff lines for 33 Least Developed…
The World Health Organisation (WHO) Africa Region has cautioned against panic following the declaration of the current Ebola outbreak in the Democratic Republic of the Congo (DRC) and Uganda as a Public Health Emergency of International Concern (PHEIC). “Fear by itself is an outbreak,” and “Ebola is highly manageable,” the organisation stated. Prof. Mohamed Janabi, WHO Regional Director for Africa and a cardiologist, urged the public to rely on accurate information while reacting to the outbreak. He explained that the PHEIC declaration would help draw international attention to the Ebola situation, mobilise resources quickly, and ensure coordinated global response. “Ebola…
Nigeria and the United Arab Emirates (UAE) have reaffirmed their commitment to strengthening strategic maritime cooperation to enhance security and safeguard trade routes in the Gulf of Guinea. The Chief of the Naval Staff (CNS), Vice Adm. Idi Abbas, stated this during a meeting with the UAE Ambassador to Nigeria, Mr. Saylem Alshamsi. This was contained in a statement issued by the Director of Naval Information, Capt. Abiodun Folorunsho, on Tuesday in Abuja. Abbas said the collaboration focuses on boosting maritime domain awareness, shipbuilding, naval technology transfer, and coordinated responses to transnational maritime threats. He identified piracy, crude oil theft,…
The Trade Union Congress of Nigeria (TUC) has expelled 11 officers and members and suspended 14 others over alleged disobedience to resolutions and decisions of its National Executive Council (NEC). The decisions were taken at the end of an emergency NEC meeting held on Monday in Lagos. Briefing journalists after the meeting, TUC President-General, Comrade Festus Osifo, said the disciplinary measures were based on the report of a committee set up on April 27 to investigate acts of misconduct within the congress. Osifo explained that the committee was mandated to review cases of “flagrant disobedience” by members, officers and affiliates,…