Latest Articles
Oil prices steady as market eyes Russia-Ukraine peace deal
Singapore, Feb. 17, 2025 – Oil prices were little changed on Monday as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures dipped 1 cent at $74.73 a barrel at 0740 GMT, while U.S. West Texas Intermediate crude was down 7 cents at $70.67 a barrel. The market continued to keep an eye on progress of peace talks, after U.S. President Donald Trump and his administration officials announced they had begun discussions with Russia to end the war in …
In Defence of Judicial Authority in Nigeria
By Chidi Anselm Odinkalu Lagos, Feb. 16, 2025 – “The judiciary,…. has no influence over either the sword or the purse; no direction either of the strength or of the wealth of the society; and can take no active resolution whatever. It may truly be said to have neither force nor will, but merely judgment.” — *Alexander Hamilton, The Federalist, No. 78.* In January 1983, a suspicious fire incident did considerable damage to NECOM House, the high-rise building in Lagos that housed the headquarters of the country’s telecommunications monopoly, then …
SERAP gives CBN 48-hr ultimatum to reverse new increases in ATM withdrawal fees
Abuja, Feb. 16, 2025 – The Socio-Economic Rights and Accountability Project (SERAP) has given the Central Bank of Nigeria (CBN) 48-hour ultimatum to reverse the newly announced increase in Automated Teller Machine (ATM) transaction fees. The CBN, had in a circular dated Feb. 10, 2025, announced that ATM withdrawals made outside a bank’s branch premises will now attract a N100 charge per N20,000 withdrawal, while withdrawals at shopping centres, airports and stand-alone cash points will carry an additional surcharge of up to N500 per N20,000 withdrawal. SERAP described the increases …
Trump effect on the Nigerian economy
By – Dr Muda Yusuf Lagos, Feb. 16, 2025 – The inception of the Trump administration in the United States of America has remarkably changed the dynamics of global trade, global economic outlook and geopolitical trajectory. The US economy is also experiencing a record disruption in its economic, trade and political governance systems. These developments have multi-dimensional implications for the Nigerian economy. There are immediate and remote consequences for energy prices, trade relations, economic diplomacy, macroeconomic stability, donor funding and capital flows. These are evolving outcomes of the Trump presidency …
NDLEA busts drug syndicate, confiscates million-naira worth of tramadol pills
Abuja, Feb. 16, 2025 – The National Drug Law Enforcement Agency (NDLEA) has busted a trans-border drug trafficking syndicate during which multi-million-naira worth of tramadol pills were confiscated. Femi Babafemi, the NDLEA Spokesman, disclosed this in a statement on Sunday. The statement said four suspects, who were detained following intelligence-led operations in Onitsha, Anambra, and Keffi in Nasarawa State, would be prosecuted after investigation. It said this development followed weeks of intelligence gathering and surveillance operations by operatives of the NDLEA’s Directorate of Intelligence. The statement said the drugs were …
$1.07b Health Allocation: Atiku can’t sermonise on probity – TMSG
Abuja, Feb. 16, 2025 – The Tinubu Media Support Group (TMSG) has described as laughable, the advice by former Vice President Atiku Abubakar to the Federal Government to avoid snakes, termites and monkeys from tampering with the over $1 billion recently allocated to the health sector. In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG wondered how the former Vice President failed to realize he was only deriding his party, the Peoples Democratic Party (PDP), which subjected Nigerians to 16 locust years. The statement reads: …
Djibouti’s foreign minister is African Union Commission’s new chairperson
By Paul Ejime Abuja, Feb. 16, 2025 – Continental leaders at their 38th ordinary summit in Addis Ababa, Ethiopia, on Saturday, Feb. 15, 2025 elected Djibouti’s Foreign Minister Mahmoud Ali Youssouf as the African Union Commission, AUC’s Chairperson for four years. Youssouf replaces Moussa Faki of Chad, who has led the Commission since 2017. Selma Malika Haddadi, Algeria’s Ambassador to Ethiopia and Permanent Representative to the African Union was also elected Deputy Chairperson. With the position zoned to East Africa, Youssouf waited until the seventh round of balloting to obtain …
NNPC refutes allegation that its fuel does not last
Abuja, Feb. 16, 2025 – The Nigerian National Petroleum Company (NNPC) Ltd had refuted allegation in a viral video that its fuel does not last. The company said the allegation, circulating online, was baseless and entirely unfounded. According to a statement issued at the weekend by Olufemi Soneye, the NNPCL Chief Corporate Communications Officer, the allegation originated from unverified and amateur research that lacked credibility, accuracy, and professional oversight. The statement reads in parts: “NNPC Ltd reaffirms that its fuel is carefully formulated with one of the best compositions, ensuring …
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 …