Latest Articles
Reps to probe N12trn allocations to DFIs in 7 years
Abuja, Nov. 12, 2025 – The House of Representatives is to probe the utilisation of over ₦12 trillion disbursed to Development Finance Institutions (DFIs) in the last seven years. The House made the resolution on Wednesday after the inauguration of an ad hoc committee to review the funding of these institutions. Chidi Obetta, the Chairman of the new committee, said the probe would give lawmakers an insight into how funds channeled to these institutions were spent. He identified these institutions to include the Bank of Industry, Infrastructure Bank, Bank of …
Insurgency: Tinubu’s $801m commitment to firearms invalidates Trump’s redesignation of Nigeria as CPC -IMPI
Lagos, 12, 2025 – The Independent Media and Policy Initiative (IMPI) says the over $801 million (N1.15 trillion) committed to firearms purchase by the Tinubu’s administration partly to counter insurgency and terrorism invalidates reasons offered by President Donald Trump of U.S.for redesignating Nigeria as a Country of Particular Concern (CPC). The group made the observation in a policy statement signed by its Chairman, Omoniyi Akinsiju, It said: “In 2024 alone, Nigeria recorded its highest single-year expenditure on arms import in recent times with over N520 billion spent, representing a …
NEMA receives180 vulnerable Nigerians from Libya
Lagos, Nov. 12, 2025 – The Lagos Office on the National Emergency Management Agency (NEMA) has received 180 vulnerable Nigerian from Libya. The agency disclosed this in a statement on Wednesday. It said the returnees arrived at the Cargo Terminal of Murtala Muhammed International Airport in Lagos on Tuesday evening onboard an Air Libya flight. The agency said the returnees included 45 adult males and 102 adult females), 19 children (6 males and 13 females), and 14 infants (7 males and 7 females). It said that 46 of the …
NCC to introduce 3 regulatory frameworks to promote sector efficiency, competitiveness
Abuja, Nov. 12, 2025 – The Nigerian Communications Commission (NCC) is to introduce three regulatory frameworks to promote an efficient and competitive communications industry. Aminu Maida, its Chief Executive, said this in Abuja on Tuesday during a public enquiry on three regulatory frameworks. The regulatory frameworks are the Licensing, Enforcement Processes and Internet Code of Practice. Maida, who was represented by NCC Executive Commissioner Rimini Makama, said this was in line with global best practices to create comprehensive communications structure serving the interests of various stakeholders. He said that …
Senate directs NNPCL to refund N210trn missing funds
Abuja, Nov. 12, 2025 – The Senate has directed the Nigerian National Petroleum Company Limited (NNPCL) to refund ₦210 trillion it could not account for to the Federation Account The Senate gave the directive on Tuesday after rejecting NNPCL’s written explanations on the N210 trillion unaccounted for in the company’s accounts between 2017 and 2023. The Senate took the resolution after adopting the report of its Committee on Public Accounts which investigated NNPCL’s accounts from 2017 to 2023. According to the committee’s report, the NNPCL’s audited records indicated ₦103 …
FG recommits to balanced outcomes on capital gains tax
Lagos, Nov. 12, 2025 – Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, has reassured investors of the federal government’s commitment to balanced outcomes on Capital Gains Tax (CGT). Edun gave the assurance in Lagos on Tuesday at the Closing Gong Ceremony of Nigerian Exchange (NGX) in commemoration of the listing of the Ministry of Finance Incorporated (MoFI) Real Estate Investment Fund (MREIF) Series 2 in Lagos. The NGX said the listing was being held amid cautious trading in the equities market as investors recalibrated …
Commissioner Drags ECOWAS Commission President to ECOWAS Court
By Chukwunazaoku Chukwuma and Mercy Olaoluwa Olutayo Lagos, Nov. 12, 2025 – A Commissioner at the Commission of the Economic Community of West African States (ECOWAS) has dragged the President of the Commission to the ECOWAS Court of Justice (CCJ), seeking the nullification of the President’s decision to “revoke the (Commissioner’s) delegated authority… (and) oversight over the directorates under the Department of Internal Services.” In suit ECW/CCJ/APP/54/25 of 3rd November 2025, the Applicant, Prof Nazifi Abdullahi Darma, the Commissioner of Internal Affairs, is, through his lawyers, Prof Amos Enabulele …
Oil prices drop as markets eye US government reopening
Beijing, Nov. 12, 2025 – -Oil prices softened on Wednesday but held onto most of their gains from the previous session amid expectations that an end to the longest-ever U.S. government shutdown could boost demand in the world’s biggest crude-consuming nation. Brent crude futures slipped 22 cents, or 0.34%, to $64.94 a barrel by 0625 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down 22 cents, or 0.36%, to $60.83 a barrel, after climbing 1.5% in the previous session. The U.S. Republican-controlled House of Representatives …
World oil and gas demand could grow until 2050, IEA says
London, Nov 12, 2025 – Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals. The IEA, the West’s energy security watchdog, has been under pressure from the U.S. for a shift in recent years toward a focus on clean energy policies as President Donald Trump called on American companies to further expand oil and gas production. Under the Joe …
Naira slides at official market, closing at N1,440.89 to dollar
Lagos, Nov. 12, 2025 – The Nigerian currency, the Naira, depreciated at the official foreign exchange market on Tuesday, closing at N1,440.89 to the dollar. The currency lost N3.39 to the dollar on Tuesday from N1,437.5000 it closed on Monday. Bid rates quoted by dealers at the market on Tuesday ranged from N1,436 to N1,440.89 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos between N1, 450 and N1, 460 to the dollar.