Author: Ogochukwu Ndubuisi

Trump Warns of Further Action: “We’ll Bomb Iran Again Without Question” Donald Trump has warned Iran that the US would bomb the country “without question” if it doesn’t agree to a new nuclear deal. Trump’s statement comes after Iran rejected direct negotiations with the US, although Iranian President Masoud Pezeshkian has left the door open for indirect talks. Trump’s threat is part of his administration’s efforts to pressure Iran into negotiating a new nuclear agreement. The US had withdrawn from the 2015 Joint Comprehensive Plan of Action (JCPOA) during Trump’s first term, reimposing sanctions that severely impacted Iran’s economy. Iran…

Ecobank Nigeria Launches New Premier Branch in Victoria Island, Lagos Ecobank Nigeria has announced the opening of a new branch dedicated solely to Premier Banking clients. This branch located No 25. Akin Adesola Street in Victoria Island is dedicated to serving high-net-worth individuals, providing personalized world-class banking services and amenities. This location offers a bouquet of carefully curated premium banking services enjoyed in the comfort of an exclusive VIP Lounge staffed with dedicated team of relationship managers and supported by a 24X7 contact centre. Announcing this in Lagos, Adeola Ogunyemi, Head, Distribution Channels/Sales, Consumer & Commercial Banking at Ecobank said…

Ganduje Resigns as APC National Chairman The All Progressives Congress (APC) National Chairman, Dr Abdullahi Ganduje, has resigned from his position. Ganduje turned in his resignation letter to the party’s National Working Committee (NWC), through its National Secretary, Sen. Ajibola Bashiru, on Friday. The former Kano State governor, in the letter, hinged his decision to throw in the towel on health grounds. Ganduje, who was elected as the sixth APC National Chairman on Aug. 3, 2023, said he had to step aside to enable him take care of his health. In line with the APC constitution, the Deputy National Chairman…

Equities Investors Lost N516bn over Sustained Market Correction Equities investors lost more than N516 billion due to the second day market correction after monster rallies that pushed key indexes to all-time highs. The Nigerian Exchange closed the week on a bearish note with key performance indicators moderating by 0.68% on the back of huge profit taking activities.  The selloffs on Friday marked the second consecutive day of losses, largely attributed to profit-taking in recently appreciated medium- and blue-chip stocks across key sectors. The Exchange had maintained an uptrend for six straight sessions. As a result of the trading pattern, the…

US Hits Mexican Banks with Sanctions Over Fentanyl Trafficking Claims The US Department of the Treasury has slapped sanctions on three Mexican financial institutions, accusing them of laundering millions of dollars for notorious drug cartels involved in the fentanyl trade. The move is part of a broader US crackdown on organized crime in Latin America. The Treasury Department named CIBanco, Intercam Banco, and brokerage firm Vector Casa de Bolsa as institutions that have allegedly played a crucial role in helping cartels move funds and facilitate payments for chemicals used in fentanyl production. These banks are accused of working with powerful…

Tinubu Brokers Peace Between Wike, Fubara President Bola Tinubu, on Thursday night, hosted a high-stakes reconciliation meeting between suspended Rivers Governor Siminalayi Fubara and FCT Minister Nyesom Wike. ‎The closed-door meeting, held at the State House in Abuja, included Rivers Assembly Speaker Martins Amaewhule, lawmakers, and key political stakeholders. ‎This latest peace meeting is seen as a last-ditch attempt by the presidency to end the political feud in the state. Wike, in brief remarks after the meeting, said that all parties had agreed to work together in the interest of the state. ‎”We have all agreed to work together with…

Sabotage Rocks NNPC Ltd, Management Cries Out The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has uncovered an emerging coordinated sabotage campaign being waged by a syndicate of known and faceless actors, within and outside the organisation. A statement issued on Friday by the management of NNPC Ltd., said that the group was actively spreading lies and misinformation simply to discredit the company’s leadership. The company said the group was spreading such misinformation to derail the organisation’s ongoing transformation into a corruption-free, performance-driven energy company, in line with the mandate of the President of the Federal Republic of…

Naira Rises to N1,536 as Oil Companies Boost FX Inflow The naira rose sharply against the US dollar at the Nigeria foreign exchange market as inflows from the international oil companies and other offshore investors boosted FX liquidity. Data from the Central Bank of Nigeria (CBN) showed that the naira gained 85 bps to close at $/₦1,536.0817 per greenback on Thursday in the absence of demand pressures. The exchange rate improvement was supported by improved FX liquidity from local sources, International Oil Companies (IOCs), and Foreign Portfolio Investors (FPIs), AIICO Capital Limited said in a note. The investment firm said…

Afreximbank Disburses $18.7bn to Bolster African Trade and Development The African Export-Import Bank (Afreximbank) has disbursed $18.7 billion in 2023 to support trade, industrialization, and business development across Africa. According to Dr. Yemi Kale, Chief Group Economist at Afreximbank, the bank’s interventions are pivotal in shaping Africa’s economic trajectory and enabling intra-African commerce. Presenting the 2025 Africa Trade Report at the bank’s 32nd Annual General Meeting (AGM) in Abuja, Kale noted that Afreximbank is not just financing trade but helping to build a modern trade ecosystem that supports long-term economic stability and prosperity. The report highlights the need for Africa…

Tinubu Signs 4 Tax Reform Bills Into Law President Bola Tinubu has signed four landmark tax reform bills into law, marking what he called a bold new era of economic governance. The brief ceremony was held on Thursday at the State House, Abuja, with the leadership of the National Assembly led by Senate President Godswill Akpabio and House Speaker Tajudeen Abbas, in attendance. ‎The four new Acts are the Nigeria Tax Bill (Fair Taxation), Tax Administration Bill, Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. ‎Tinubu emphasised that the reforms are not just administrative but will reshape…