Washington, Jan.14, 2026 – President Donald Trump said he would announce his nomination to replace Federal Reserve Chair Jerome Powell within “the next few weeks” despite the backlash over a Justice Department probe into the remodeling of the central bank’s headquarters that has threatened his ability to secure a confirmation. Trump was asked about his plans during a factory tour in Michigan, and indicated he planned to push ahead despite concern expressed by key Republican lawmakers. The president also criticized Senator Thom Tillis, a retiring North Carolina Republican and …
China’s trade ends 2025 with record trillion-dollar surplus despite Trump tariffs
Beijing, Jan 14, 2026 – China on Wednesday reported a strong export run in 2025 with a record trillion-dollar surplus, as producers braced for three more years of a Trump administration set on slowing the production powerhouse by shifting U.S. orders to other markets. Beijing’s resilience to renewed tariff tensions since President Donald Trump returned to the White House last January has emboldened Chinese firms to shift their focus to Southeast Asia, Africa and Latin America to offset U.S. duties. With Beijing looking to exports to counteract a prolonged …
EFFC returns part of N1.3bn wrongfully credited to customer’s account by First Bank
Abuja, Jan. 14, 2026 – The Economic and Financial Crimes Commission (EFCC) says it has handed over the N802,420,000 recovered from a customer whose account was wrongfully credited ted with N1.3 billion by First Bank of Nigeria Plc. It said the N802,420,000 recovered from the customer had was handed over to the Benin Zonal Directorate of First Bank on Monday. The EFCC disclosed this in a statement issued on Tuesday by its Spokesman, Dele Oyewale.. It said the suspect, Ojo Eghosa Kingsley, immediately took possession of the N1.3 …
Trump says Powell incompetent or crooked amid probe furor
Washington, Jan.13, 2026 – President Donald Trump criticized Federal Reserve Chair Jerome Powell as either “incompetent” or “crooked” after a Justice Department probe into the central bank’s headquarters renovation sparked backlash across Washington. “He’s billions of dollars over budget, so, either he’s incompetent or he’s crooked,” Trump told reporters Tuesday as he departed the White House for an economic speech in Detroit. “I don’t know what he is, but he certainly doesn’t do a very good job.” The probe marks a dramatic escalation of the Trump administration’s attacks on …
NELFUND disburses N161.97bn in loans to 864,798 students
Abuja, Jan. 13, 2026 – The Nigerian Education Loan Fund (NELfund) has disbursed N161.97 billion in loans to 864,798 students across the country since the launch of its student loan portal. Akintunde Sawyerr, its Managing Director, disclosed this at a press conference in Abuja on Tuesday. He said that out of the N161.97 billion loan disbursed, N89.94 billion was paid directly to 263 tertiary institutions to cover tuition and institutional charges, while N72.03 billion was paid to students as upkeep allowances. “As of today. 1,361,011 applications have been received, …
G7 finance ministers agree to cut reliance on China for rare earths
Washington, Jan. 13, 2026 – Finance ministers from the Group of Seven countries agreed Monday to accelerate the reduction of their countries’ overreliance on China for critical minerals. Following a meeting in Washington, also attended by representatives from Australia, India, Mexico and South Korea, Japanese Finance Minister Satsuki Katayama disclosed the agreement and said they will explore policy measures to establish new supply chains for critical minerals. The U.S. Treasury Department said the participants “expressed a strong, shared desire to quickly address key vulnerabilities in critical minerals supply chains” …
Tony Elumelu Foundation opens 2026 entrepreneurship programme
Lagos, Jan. 13, 2026 – The Tony Elumelu Foundation (TEF) has opened applications for the 2026 TEF Entrepreneurship Programme, calling ambitious young founders from all 54 African countries to apply now on TEFConnect. Successful applicants receive US$5,000 in non-refundable seed capital, intensive business training, mentorship, and direct access to Africa’s largest entrepreneurship network. Since 2015, the Programme has funded over 24,000 entrepreneurs, trained 2.5 million Africans, created more than 1.5 million jobs, and generated over US$4.2 billion in revenue, proving that African entrepreneurs can transform the continent. The Programme is …
Trump ramps up attack on Fed’s Powell with criminal indictment threat
New York, Jan 12, 2026 – U.S. President Donald Trump’s administration has ramped up its pressure campaign on the Federal Reserve, threatening to indict Chair Jerome Powell over comments to Congress about a building renovation project, an action Powell called a “pretext” to gain more influence over interest rates Trump wants cut dramatically. The latest development in a long-running effort by Trump for greater control over the Fed had immediate fallout, with Republican Senator Thom Tillis, a member of the Senate Banking Committee that vets Presidential nominees for the …
Heritage Bank: NDIC declares ₦24.3bn second liquidation to depositors
Abuja, June 12, 2026 – The Nigeria Deposit Insurance Corporation (NDIC) has declared ₦24.3 billion second liquidation dividend for depositors in the liquidated Heritage Bank Limited. The first liquidation dividend of ₦46.6 billion was paid to the depositors in April 2025 at a rate of 9.2 kobo per ₦1.00. The NDIC said the dividends were derived from debt recovery, sale of physical assets, and realisation of investments. It said the second liquidation dividend would be paid at a rate of 5.2 kobo per ₦1.00 on outstanding balances and the payments …
China’s consumer inflation scales 3-year high
Beijing, Jan 9, 2025 – China’s annual consumer price inflation accelerated to a 34-month high in December, but the full-year rate slumped to the lowest in 16 years while producer deflation persisted, backing market expectations for more stimulus to shore up soft demand. Imbalances in the $19 trillion economy have worsened over the past year even as growth is on course to meet Beijing’s target of “around 5%” for 2025, buoyed by policy support and resilient goods exports. U.S. President Donald Trump’s global trade war has added to persistently soft …