Author: Ogochukwu Ndubuisi

Adeleke Seeks UK Investment in Osun Gov. Ademola Adeleke of Osun has appealed to the United Kingdom to focus on subnational investment in the state, describing the state as the heartland of South-western Nigeria. This is contained in a statement issued on Tuesday in Osogbo by Malam Olawale Rasheed, the spokesperson for the governor. The statement said the governor made the appeal at an investment working visit, hosted by the UK Prime Minister’s Envoy to Nigeria on Trade and Investment, Florence Eshalomi MP, in London. According to Adeleke, this is the time Nigeria and the UK should further close ranks…

Tinubu Mourns Pascal Dozie, Business Icon President Bola Tinubu has expressed his heartfelt condolences to the family, business community, and all Nigerians following the passing of Chief Pascal Dozie. The elder statesman, entrepreneur, and banker died at the age of 85. In a statement issued on Tuesday by Mr Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu acknowledged Dozie’s significant contributions to Nigeria’s economic landscape. According to the President, the late Dozie left an enduring legacy as the founder of Diamond Bank and the pioneering Chairman of MTN Nigeria. “Dozie was at the forefront of two…

SDG: UN, AU Deepen Alignment with Africa’s Agenda 2063 The United Nations (UN) and the African Union (AU) have intensified efforts to align the African Union’s Agenda 2063 with the UN Sustainable Development Goals (SDGs) Agenda 2030. Ms Botho Bayendi, Director of the Office of Strategic Planning and Delivery at the AU Commission, said this in a statement by the United Nations Economic Commission for African (UNECA). Bayendi said the initiative, called ”Two Agendas, One Framework”, aimed to harmonise Africa’s long-term development plan with global SDGs for more effective implementation at national levels. She spoke on the sidelines of the…

Nigerian Exchange Shrinks as Equities Investors Lose N658bn Equities investors lost more than N658 billion in the Nigerian stock market due to selloffs across sectoral indexes on Monday. The Nigerian Exchange (NGX) All-share index fell sharply after negative performance posted last week. The Nigerian equity market opened on a bearish note, as key performance indicators reflected a mix of outcomes. The market index reduced by 1.23%, shedding 1,295.02 basis points, to close at 104,216.87. However, the market value of all listed stocks in the Nigerian market fell by N658.23 billion, representing a decline of 1.00%, to settle at N65.49 trillion.…

$79.5bn loss: Binance Prays Court to Set Aside Order for FIRS to Serve it Binance Holdings Ltd. has prayed the Federal High Court in Abuja to set aside the ex-parte order granted the Federal Inland Revenue Services (FIRS) for substituted service of all court documents on it. Binance lawyer, Chukwuka Ikwuazom, SAN, told Justice Inyang Ekwo shortly after the matter was called on Monday. He informed the court that a motion had already been filed to the effect on Friday. He said their contention was that the rules of the court for such service had not been complied with before…

Court Hears EFCC’s Motion for Final Forfeiture of N228.4m The Federal High Court in Abuja will on May 28, hear the Economic and Financial Crimes Commission (EFCC)’s motion seeking an order for final forfeiture of N228.4 million linked to former Governor of Abia, Theodore Orji. Justice Emeka Nwite adjourned the matter to hear the motion after the EFCC’s counsel, Fadila Yusuf, informed the court that the agency had complied with the earlier order of court. Upon resumed hearing, Justice Nwite asked Yusuf what was the position of the matter. The lawyer said that the matter was slated for report of…

German Economy Minister Criticises U.S. Tariff Policy Outgoing German Economy Minister Robert Habeck criticised U.S. President Donald Trump’s tariff policy on Monday, calling the idea behind it as “fundamentally wrong.” Habeck argued that the assumption that trade surpluses or deficits were problematic is “wrong,” as he arrived at an emergency meeting of European Union trade ministers in Luxembourg. Starting Wednesday, imports from EU countries to the U.S. will face new tariffs of 20 per cent. “In the end, globalisation serves all economies,” Habeck said, noting that the U.S. economy has outpaced European economies in growth over the last 20 years.…

Shettima Highlights Nigeria’s Transformational Vision Vice-President Kashim Shettima has said that President Bola Tinubu’s bold vision and pragmatic leadership will transform Nigeria into a more vibrant country in the near future. A statement from Shettima’s spokesperson, Mr Stanley Nkwocha, issued on Sunday, revealed that the Vice-President made this comment during a meeting with ‘Big Win Philanthropy.’ The delegation, led by Chief Executive Officer Jamie Cooper, visited the Presidential Villa in Abuja for a courtesy call. Shettima highlighted the administration’s investments in healthcare, education, and other key sectors, which would drive Nigeria’s transformation. “In a few years, I see a more…

CBN Defends Naira with $669 Million in Q1-2025 The Central Bank of Nigeria (CBN) defended the naira from losing significant strength in the foreign exchange market with about $669 million FX intervention in the first three month of 2025, a report from investment firm AIICO Capital Limited revealed. The apex bank went ballistic with FX intervention throughout the first quarter of 2025 due to lower US dollar accretions and rising offshore demand for forex. To stem the negative tide in the parallel market, the CBN also directed Bureau de Change (BDCs) operators to purchase $25,000 from authorised dealer banks at…

Nigeria Acknowledges 14% Tariff Imposed on Exports by U.S The Federal Government of Nigeria has acknowledged the recent tariff measures announced by the U.S. Government, including imposing a 14 percent tariff on Nigerian exports. This is contained in a statement signed by Dr Jumoke Oduwole, Minister of Industry, Trade, and Investment, on Sunday in Abuja. U.S. President Donald Trump announced that exports from Nigeria to the U.S. will now be subjected to a 14 percent tariff. The decision was made during a ‘Make America Wealthy Again’ event in the Rose Garden on Wednesday. It is part of a broader strategy…