GBN

Ilorin, June 11, 2026 – Ola Olukoyede,  the Chairman of the Economic and Financial Crimes Commission (EFCC)  has alleged that some governorship aspirants spent between N20 billion and N30 billion to win in the last primary elections. He made the allegation on Wednesday while speaking at a public lecture organised by the Centre for Peace and Strategic Studies (CPSS) at the University of Ilorin, Kwara State. The theme of the lecture was “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria”. Olukayode said that huge financial …

Abuja, June 11, 2026 – The House of Representatives on Thursday passed the state police bill. The bill was passed after members adopted the report of the House committee on Constitutional Review on the bill  The bill had a smooth passage in spite of a point of order raised by Bashir Zubairu, a member from Kaduna, on the late arrival of the document from the House committee on Thursday. Zubairu had argued that the document was only made available to lawmakers late on Thursday and members had very limited time …

Lagos[MTA1] . June 11, 2026 – First City Monument Bank Limited (FCMB) has appointed Bismarck Rewane, the Chief Executive of Financial Derivatives Company Limited, as Non-Executive Director and Chairman of its Board of Directors. A statement from the bank on Thursday, said the appointment was approved by the Central Bank of Nigeria, adding that the appointment will bring one of Nigeria’s leading economists to its board. Rewane is a fellow of the Nigerian Economic Society with more than 40 years of experience spanning macroeconomic research, investment banking and strategic management. He …

Washington, June 11, 2026 – Donald Trump said “I love the inflation” after new data showed that inflation jumped to an annual rate of 4.2% in May, the third consecutive monthly increase since the start of the Iran war and a three-year high. Speaking from the White House on Wednesday, the US president said that he was not concerned about inflation because of recent developments in the conflict. “No, I love it. The numbers were great,” he said, before adding that the US has been taking out “millions of barrels of …

Lagos, June 11, 2026 Fidelity Bank Plc, a leading financial institution, has reaffirmed its commitment to advancing the growth and sustainability of Micro, Small and Medium-scale Enterprises (MSMEs), positioning itself as a trusted partner beyond traditional banking and financing. This commitment was reiterated by the bank’s management in a keynote address delivered by the Executive Director (South), Mrs. Pamela Shodipo, at the recently held SME Quarterly Business Forum in Port Harcourt, Rivers State. The Forum, themed “Scaling Trade and Distribution of Businesses for Sustainable Growth,” brought together entrepreneurs, business owners, …

Abuja, June 11, 2026 -The Senate has ordered the arrest of Mele Kyari, the immediate past Chief Executive of the Nigerian National Petroleum Company Limited (NNPC), over his failure to appear before its committee to explain N210 trillion unaccounted funds in the company between 2017 and 2023. Its Committee on Public Accounts gave the order on Wednesday following repeated failures of Kyari to appear before it. The arrest warrant was issued after lawmakers ruled against further delay in the investigation. The committee had turned down the pleas by some members …

Lagos, June 11, 2026 – The Nigerian currency, Naira, depreciated at the official foreign exchange market on Wednesday, closing at N1,360 to the dollar. The naira had closed at 1,359 to the dollar at the market on Tuesday, depreciating by N10 to the dollar. Bid rates quoted by traders at the market on Wednesday ranged from N1,363.50 to N1,362.0549 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos between N1,395 and N1,400 to the dollar.

Singapore, June 11, 2026 – Oil prices jumped on Thursday as Tehran declared the critical energy chokepoint, the Strait of Hormuz, closed ‌after the U.S. launched additional strikes against Iran and as President Donald Trump vowed even more attacks if no peace deal is secured. Brent futures rose $1.48, or 1.59%, to $94.58 a barrel as of 0243 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $1.71, or 1.90%, to $91.74. U.S. crude ​futures gained more than $3 earlier in the session. Iran’s top joint military command announced the …

Washington, June 11, 2026 – US stock futures climbed after the US struck Iran just hours after President Trump had pledged to do so, saying negotiations were taking “too long.” Futures attached to the Dow Jones Industrial Average and the S&P 500 climbed 0.1%. Futures attached to the tech-heavy Nasdaq 100 rose 0.3%. US Central Command confirmed the attacks on X, describing them as “in response to Iran’s unwarranted and continued aggression.” Earlier on Wednesday, President Trump told reporters in separate comments that Iran would be hit “very hard” and would “pay the …

Dubai, June 11, 2026 – The United States launched a second round of airstrikes on Iran into Thursday morning after President Donald Trump warned that Tehran would “pay the price” for stalled negotiations, and Iran responded with strikes targeting Bahrain, Kuwait and Jordan. The new U.S. assault across multiple Iranian cities came as efforts to negotiate an end the war again appeared stuck, with Iran insisting it would maintain its chokehold on the Strait of Hormuz, which has disrupted global energy supplies and sent oil prices higher. It was the third …