The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month. According to the latest Afrinvest Monthly Market Report titled ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped to N1,536.82/$ and N1,530.00/1.00…
The challenges facing the implementation of the Supreme Court judgment on local government autonomy have assumed a new dimension, with some state governors explicitly warning their council chairmen against opening an account with the Central Bank of Nigeria for the direct payment of their allocations from the Federation Account. The latest development represents yet another…
In a bold move to reshape Africa’s digital entertainment space, telecoms giant MTN Group has teamed up with UK-based video software powerhouse Synamedia to launch a next-gen streaming platform for mobile and broadband users across the continent. The partnership, aimed at delivering high-quality, relevant, and accessible content, marks MTN’s entry into direct competition with major players like Netflix, Showmax, Prime Video, and MultiChoice. MTN’s…
President Bola Tinubu says his administration is determined to bequeath a well-trained, well-motivated and well-equipped Police Force whose operations are enhanced by modern tools and technology to combat crime in Nigeria effectively. He said this had become necessary to ensure that the nation’s security forces are constantly “steps ahead of those who threaten the peace,…
The Presidency has debunked widespread reports claiming that President Bola Tinubu has sacked the Chairman of the Independent National Electoral Commission, Professor Mahmood Yakubu. The reports, which went viral early Monday, alleged that Yakubu had been removed from office and replaced with a certain Professor Bashiru Olamilekan in what was described as a “sweeping change”…
Former Serie A champions Napoli are willing to lower Victor Osimhen’s €75m valuation to enable Manchester United seal a deal for the Nigerian striker and also prevent him from joining Italian rivals Juventus in the summer. Currently on loan at Galatasaray, Osimhen is destined to part ways with Napoli at the end of the current season…
As coalition talks to challenge President Bola Tinubu in the 2027 elections gain traction, northern stakeholders are pushing for southern aspirants to commit to a single-term agreement. A source involved in the coalition negotiations, who requested anonymity due to lack of authorisation to speak on the issue, stated that northern stakeholders are urging former Vice…
The World Bank has clarified that the planned $10.50m financing to the Central Bank of Nigeria is a grant, not a loan. According to a source at the World Bank who spoke to our correspondent under the condition of anonymity on Friday, the amount is being provided under the Finance for Development Multi-Donor Trust Fund as…
The 2023 presidential candidates of the Peoples Democratic Party, Atiku Abubakar, Labour Party’s Peter Obi, and the National Secretary of the Coalition of United Political Parties, Peter Ahmeh, have called for electoral reform ahead of the 2027 elections. They said electoral reform was a crucial element that would aid the ongoing national coalition negotiations in achieving…
Huawei Nigeria Digital Power has introduced an innovative product, the LUNA2000-215 Series, the world’s first hybrid air and liquid cooling commercial and industrial energy storage solution. The launch, which took place at an event attended by industry partners and key stakeholders from the C&I energy sector, marked a significant milestone in the region’s energy landscape….
