Author: Ogochukwu Ndubuisi

Reps Mandate REA MD to Appear March 2 The House of Representatives committee on Renewable Energy has mandated the Managing Director, Rural Electrification Agency (REA) to appear before the committee in person on Tuesday, March 2. The Chairman of the committee, Rep. Afam Ogene, gave the mandate during an investigative hearing in Abuja on Wednesday. Ogene who cautioned against trivialising official duties, directed the agency to send a written response on issues raised by the committee and present it within 48 hours. “We as lawmakers are elected to hold public officers accountable in line with sections 88 and 89 of…

Trump Criticises Supreme Court Ruling on Tariff Policy U.S. President Donald Trump on Wednesday sharply criticised a recent ruling by the U.S. Supreme Court striking down his tariff policy. In his State of the Union address, Trump called the 6-3 decision “unfortunate” and “disappointing.” The ruling invalidated tariffs imposed under an emergency law without congressional approval. Soon after the decision, Trump announced new global tariffs of 10 percent on imports, later raising the rate to 15 percent, citing Section 301 of the 1974 Trade Act as the legal basis. The Trade Act allows the president to impose temporary trade measures…

Ripple (XRP) gained about 5% in the last 24 hours to $1.40, slightly outperforming a broader market rally and primarily driven by a macro-sensitive bounce alongside Bitcoin.

INEC Denies Result Manipulation in FCT Polling Unit The Independent National Electoral Commission (INEC) has dismissed allegations of result manipulation at Kuroko Health Centre polling unit in Yangoji Ward, Kwali Area Council, during Saturday’s elections. In a statement on Tuesday, FCT Resident Electoral Commissioner, Aminu Idris, described the claim as false and misleading. He said online reports alleged the unit recorded 1,219 votes for a party, in spite of having 345 registered and 213 accredited voters. Idris clarified that the official result showed the party scored 121 votes, not 1,219 as circulated on social media. “The Commission categorically states that…

El-Rufai Asks Court to Stop ICPC, EFCC, DSS From Blocking His Assets Former Gov. Nasir El-Rufai of Kaduna State has prayed the Federal High Court in Abuja for an order restraining the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and others from taking any step to freeze his bank accounts or seize his property. El-Rufai, in a fresh suit filed by his lawyer, Oluwole Iyamu, SAN, urged the court for an order of interim injunction directing the respondents to maintain the status quo ante pending the hearing and determination of the application and the substantive originating mation. The…

Oil prices reduced slightly in the global commodity market on Wednesday ahead of U.S-Iran nuclear talks in Geneva, with the hope that diplomatic discussions will reduce supply risks.

Household consumption continues to rise steadily across the euro area as the economy outperformed Fitch Ratings’ expectations in 2025, increasing by 1.5%, and Fitch expects a similar rate of expansion in 2026.

Sustained Inflation Decline Informed MPR Reduction to 26.50% — Cardoso The Central Bank of Nigeria (CBN) says its decision to reduce the Monetary Policy Rate (MPR) by 50 basis points was partly informed by sustained deceleration in year-on-year inflation. The CBN Governor, Yemi Cardoso, said this on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the Monetary Policy Committee (MPC). The MPC reduced the MPR by 50 basis points to 26.50 per cent from 27 per cent. The committee also retained the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and 16 per…

Pension Funds Equity Investment Hits N3.96trn in 5 yrs – PenOp The Pension Fund Operators Association of Nigeria (PenOp) says pension fund investment in domestic equities rose to N3.96 trillion as of December 2025. PenOp in a statement on Tuesday, said this reflected sustained growth and increasing confidence in the capital market. According to the association, equity investments increased from N915.31 billion in December 2021 and N908.02 billion in December 2022 to N1.57 trillion in December 2023. PenOp noted that the figure rose further to N2.24 trillion in December 2024 before climbing significantly to N3.96 trillion in 2025. The association…

20 Banks Ready for Recapitalisation, Meet New Minimum Capital Requirements – Cardoso The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s Monetary Policy (MPC). In March 2024, CBN announced a major bank recapitalisation programme requiring Nigerian banks to raise higher capital bases within 24 months. This is to make the financial sector stronger, more resilient, and able to…