GBN

London, May 12, 2026 – The ceasefire between the US and Iran reached a particularly precarious moment Monday as President Donald Trump said the agreement was on “massive life support” after he rejected Tehran’s latest peace offer. Speaking to reporters in the Oval Office, Trump called Iran’s response to his proposal a “piece of garbage” and said he “didn’t even finish reading it.” Iran responded to last week’s US peace proposal by demanding a lifting of Washington’s naval blockade and sanctions relief, while maintaining a degree of control over traffic …

Lags, May 12, 2026 – Aviation business, not only in Nigeria, is generally known to be a capital intensive one and strictly guided by international regulations as prescribed by the International Civil Aviation Organisation (ICAO). The ICAO recommended standards and practices are to be referred to when dealing in aviation business, therefore, Nigeria being a signatory to ICAO should uphold international civil aviation standards and fulfill its obligations under the Convention on International Civil Aviation. Numerous challenges, including high operating cost, fluctuating exchange rates, difficulties in aircraft repossession, perceived high-risk …

Singapore, May 12, 2026 – Oil prices rose nearly 1% on Tuesday as talks to end the U.S.-Israeli war on Iran appeared fragile, with Tehran’s response to a Washington proposal highlighting stark differences that have kept supply concerns alive. Brent crude futures were up 86 cents, or 0.8%, ​at $105.07 per barrel, while U.S. West Texas Intermediate gained 99 cents, or 1%, to $99.06 at 0411 ​GMT. Both benchmarks increased nearly 2.8% on Monday. U.S. President Donald Trump on Monday said the ceasefire ⁠with Iran was “on life support,” pointing to disagreements …

Lagos, May 12, 2026 – The Nigerian currency, Naira, depreciated at the official foreign exchange market on Monday, closing at N1,367 to the dollar from N1,355 which it closed on Friday. The currency had been depreciating in the previous three trading days, closing at N1,258 to the dollar on May 7 and N!,350 to the dollar n May 6, 2026.. Bid rates quoted by dealers at the market on Monday ranged from N1,375 and N1,373.1640 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos …

By Richard Ikiebe Lagos, May 11, 2026 – Public debate about Nigeria’s future has grown increasingly crowded with competing prescriptions. Two of the suggested remedies dominate the discourse: the demand for outright dissolution and the call for a Sovereign National Conference. Both are emotionally and politically potent. Neither is constitutionally valid, logically sustainable, nor practically persuasive. More critically, they distract from the real challenge, and, tellingly, from the people most responsible for the situation: the elite. Nigeria is now under heavy strain because its elites have repeatedly refused to complete …

Lagos, May 11, 2026 – Polaris Bank, Nigeria’s leading digital retail and commercial bank, has been honoured with the Private Sector Champion Award at the 2026 Jobberman Partners’ Convening in Lagos. The award was in recognition of the Bank’s outstanding and stellar contributions to youth employment, talent development, and workforce empowerment across Nigeria. It recognises private sector organisations that have demonstrated exceptional commitment and leadership in advancing youth employability through impactful recruitment initiatives, graduate trainee programmes, executive hiring support, candidate assessment programmes, and strategic partnerships that create sustainable career opportunities …

London, May 11, 2026 – Oil surged after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz. Brent crude futures advanced as much as 4.6% to $105.99 a barrel, while West Texas Intermediate traded near $100. In a social media post, Trump said the response was “TOTALLY UNACCEPTABLE” as the two sides struggle to maintain a fragile ceasefire following a series of flareups in hostilities. The near-closure of Hormuz since …

Abuja, May 11, 2026 – The Central Bank of Nigeria (CBN) has reaffirmed its commitment to inflation targeting in the management of monetary policy in the country. Muhammad Sani Abdullahi, a Deputy Governor of the apex bank, said this during a recent engagement of the bank with the Nigerian Governors Forum. According to a statement issued by the CBN, the deputy governor, who is in charge of the Economic Policy Directorate, said Nigeria’s transition to inflation-targeting regime was a move toward a more transparent, rule-based, and forward-looking monetary policy system that requires …

Lagos, May 11, 2026 – The Lagos State Electricity Regulatory Commission (LASERC) has approved 14 independent power distribution, metering services, and interconnected mini-grid operations in the state. Alexander Ogunbiyi, the Chairman of the Commission, distributed the licences and permits at the maiden meeting of the stakeholders in Lagos on May 7. 2027 The company said this in a statement, describing the move as a major step to expand private sector participation and improve electricity access across industrial and residential clusters. It said the approvals also reflected its drive to deepen …

London, May 11, 2026 – Oil surged after US President Donald Trump rejected Iran’s latest response to his proposal to end the war in the Middle East, prolonging the effective closure of the crucial Strait of Hormuz. Brent crude futures advanced as much as 4.6% to $105.99 a barrel, while West Texas Intermediate traded near $100. In a social media post, Trump said the response was “TOTALLY UNACCEPTABLE” as the two sides struggle to maintain a fragile ceasefire following a series of flareups in hostilities. The near-closure of Hormuz since …