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Ayo Adebayo, Afenifere leader, is dead

Lagos, Feb. 14, 2025 – Chief Ayo Adebanjo, a leader of the Afenifere, a Yoruba political group, is dead.  A statement issued by the family said he died at 96 on Friday in Lekki, Lagos State. . The statement reads: “With a heart full of gratitude for a selfless life spent in the service of God, the nation and humanity, we announce the passing on of our beloved patriarch, Chief Samuel Ayodele Adebanjo.  “He died peacefully this morning, Friday, February 14, 2025 at his Lekki, Lagos Nigeria home at the age …

Approval of N758bn for pension backlog reflects Tinubu’s commitment to senior citizens’ welfare -TMSG

Abuja, Feb. 14, 2025 – The Tinubu Media Support Group (TMSG) says the recent approval of N758 billion bond to offset outstanding pension liabilities for retired federal civil servants is a proof of President Bola Tinubu’s care and compassion for people.  The group said the gesture was a practical demonstration, in immeasurable terms, of the President’s unwavering commitment to the welfare of retirees and the ennobling community of senior citizens in the country. In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the group also described …

Latest US sanctions on Russia throw global oil trade into disarray  – Analysis

Singapore, Feb. 14, 2025 – Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim of western sanctions imposed after its invasion of Ukraine three years ago. The new rules have left millions of barrels floating on ships and sent traders hunting for alternatives, while …

CBN assures public of stability of Keystone Bank

Abuja, Feb. 14, 2025 – The Central Bank of Nigeria (CBN) on Friday assured the banking public of the stability of Keystone Bank. It said the bank still remained stable and fully operational in spite a court ordered forfeiture the bank to the Federal Government. The apex bank gave the assurance in a statement issued by Hakama Sidi Ali its Acting Director of Corporate Communications. The statement reads in parts: “For clarity, the Court Order merely reaffirmed the Central Bank of Nigeria’s prior decision to take over the management of …

Trump imposes ‘reciprocal tariffs’ targeting Europe

Washington, Feb. 14, 2025 – President Donald Trump signed an order to allow for new worldwide ‘reciprocal tariffs’ with plans to target foreign trade practices on a country-by-country basis that will hit within weeks. The new tariffs will be the most sweeping since America put in place 50 per cent tariffs on all manufacturing goods in 1890.  Those tariffs were formulated by the 25th president William McKinley, who Trump has dubbed the ‘tariff king’.    ‘Tariffs are good, tariffs are great actually,’ said Trump as he signed the new order while …

China issues US$8.2 billion in bills in Hong Kong to stabilise yuan amid trade tensions

Beijing, Feb. 14, 2025 -The People’s Bank of China (PBOC) said it would tender central bank bills totalling 60 billion yuan (US$8.2 billion) in Hong Kong on Friday, marking the second time this year it has used the policy tool to stabilise the yuan amid tariff tensions with the US. The PBOC said it would tender 40 billion yuan in three-month bills and 20 billion yuan in one-year notes through the Central Moneymarkets Unit (CMU) of the Hong Kong Monetary Authority (HKMA) on a fixed-rate, interest-bearing basis “The issuance of …

CBN warns banks to stop forcing customers to withdraw less than N20,000 from ATMS

Abuja, Feb. 23, 2025 – The Central Bank of Nigeria (CBN) has warned commercial banks against forcing customers to withdraw less than N20,000 per transaction from the Automated Teller Machines (ATMs). The bank gave the directive while reacting to a customer’s inquiry on its recent review of ATM withdrawal fees. It explained that customers can withdraw up to N20,000 per transaction. “Any bank that compels a customer with sufficient funds in their account to withdraw less than N20,000 per transaction, against their desire for a higher sum, would be contravening …

AGF advises federal offices in states to comply strictly with TSA rules

Benin, Feb. 13, 2025 – Oluwatoyin Madein, the Accountant General of the Federation (AGF), has directed federal ministries and agencies in the states to comply strictly with rules governing the operation of the Treasury Single Account (TSA). She directed them not to operate accounts with commercial banks in their respective states. A statement issued by Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant General of the Federation (OAGF), said Madein gave the directive in Benin, Edo State, during her visit to the Federal …

Oil prices fall on potential Ukraine peace talks

 London, Feb. 13, 2025 – Oil prices fell slightly on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Brent futures were down 42 cents, or 0.6%, at $74.76 a barrel by 0900 GMT while U.S. West Texas Intermediate (WTI) crude dropped 40 cents, or 0.6%, to $70.97. Brent and WTI lost more than 2% on Wednesday after U.S. President Donald Trump said Russian that President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy expressed a …

Chevron to lay off 20% of global staff

Houston, Feb. 13, 2025 – Houston-based oil giant Chevron will lay off 15 per cent to 20 per cent of its global workforce, aiming to cut USD 2-3 billion in structural costs by the end of next year. The energy giant employs more than 40,000 people globally. Chevron is streamlining operations to boost efficiency and long-term competitiveness. This includes optimising its portfolio, leveraging technology, and expanding global work centres, a company spokesperson said. “These decisions aren’t taken lightly, and we’ll support employees through the transition,” the spokesperson said, adding that …