Author: Ogochukwu Ndubuisi

El-Rufai Files N1bn Suit Against ICPC Former Gov. Nasir El-Rufai of Kaduna State has filed a N1 billion fundamental rights enforcement suit against the Independent Corrupt Practices and Other Related Enforcement Commission (ICPC) over alleged unlawful invasion of his Abuja residence. El-Rufai, through his team of lawyers led by Oluwole Iyamu, SAN, prayed the court to declare that the search warrant issued on Feb. 4 by the Chief Magistrate, Magistrate’s Court of the FCT (2nd respondent), authorising the search and seizure at his residence was invalid, null and void. He urged the court to declare that the search warrant was…

Cambodia National Bank Suspends Commercial Bank Operations Over Financial Deterioration Cambodia’s central bank has suspended the operations of Panda Commercial Bank after determining that the lender’s financial condition had significantly deteriorated, raising concerns over its ability to continue providing services. In a statement on Monday, the National Bank of Cambodia (NBC) said prudential supervision had found that the bank’s worsening financial situation would lead to an inability to carry out normal banking operations. The NBC appointed Morisonkak MKA Audit-Accounting Co., Ltd. as the provisional administrator and liquidator. The firm had been granted authority to manage and control all operations and…

Trump Renews Attack on U.S. Supreme Court, Vows Other Tariffs, Licenses President Donald Trump renewed his condemnation of the U.S. Supreme Court on Monday after it ruled against his sweeping tariff programme. He vowed to turn to other tariffs’ powers and licenses but gave no details. Trump said on Saturday he would raise a temporary tariff from 10 per cent to 15 per cent on U.S. imports from all countries, the maximum level allowed under the law. This came a day after the court ruled that Trump had exceeded his presidential authority when he imposed an array of higher tariff…

Mugabe’s Son Appear in Court on Attempted Murder Charge The youngest son of Zimbabwe’s former leader Robert Mugabe appeared in a South African court on Monday, charged with attempted murder. The arrest came after a gardener was shot and wounded last week at the Johannesburg mansion where Mugabe’s son had been staying. Bellarmine Chatunga Mugabe was not asked to enter a plea. The case against him and a second suspect was postponed until March 3 to allow for further investigations. Chatunga, believed to be in his late 20s, will remain in custody until his next court appearance, the court heard.…

The Debt Management Office (DMO) is set to open N800 billion worth of Federal Government of Nigeria (FGN) bonds for subscription on Monday.

The U.S. dollar (USD) fell against its major trading partners in the forex market, halting the greenback’s successive recovery amidst reaction to the Supreme Court tariff ruling.

Fitch Affirms BoE AA Rating, Outlook Stable Fitch Ratings has affirmed the Bank of England’s (BoE) Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘AA-‘ with a Stable Outlook. The BoE’s LTFC IDR is directly aligned with the UK’s sovereign ratings, according to Fitch. The BoE is the UK’s monetary arm and, as such, its credit profile aligns with that of the sovereign government, ratings analysts said. Fitch said it currently only rates the BoE’s three-year maturity US dollar bonds. The rating does not apply to typical central-bank liabilities of the BoE, such as banknotes or commercial bank reserves, which…

NDLEA Arrests Trans Fortress CEO for Allegedly Leading Drug Cartel The National Drug Law Enforcement Agency (NDLEA) has arrested the Chairman and Chief Executive Officer(CCEO), Trans Fortress Global Resources, for alleged illicit drug business. Femi Babafemi, Director Media and Advocacy, NDLEA, said in a statement on Sunday in Abuja that the suspect had been on NDLEA watchlist since 2025 following credible intelligence. Babafemi said that the 57-year-old drug kingpin was arrested at his Safe Court Apartment residence in Ikate, Lekki Lagos on Thursday, Feb. 12 after sustained surveillance soon after his return from the United Kingdom. He said that a…

Nigeria Records N5trn Post-Harvest Losses in 2025 The Organisation for Technology Advancement of Cold Chain in West Africa (OTACCWA) has disclosed that Nigeria recorded between N3.5 trillion and N5 trillion in post-harvest losses in 2025. The President of OTACCWA, Mr Alexander Isong, disclosed this in an interview with the News men) in Lagos. Isong also said the country lost an estimated 30 to 40 million metric tonnes of food across major value chains. “In 2025, Nigeria lost an estimated 30 to 40 million metric tonnes of food to post-harvest inefficiencies across major value chains, particularly tomatoes, vegetables, fruits, dairy, meat,…

How SEC Can Achieve 20m Investors’ Target Prof. Uche Uwaleke, the President of the Capital Market Academics of Nigeria (CMAN), says aggressive investors’ education and strong enforcement against infractions will help the Securities and Exchange Commission (SEC) achieve its 2026 targets. SEC on Feb. 20 inaugurated a liquidity working group targeting no fewer than 20 million new investors into the market. Speaking to News men in Abuja on Sunday, Uwaleke said the target was realisable but required a coordinated ecosystem approach involving regulators, exchanges, fintech firms, banks, universities, and market operators. He said financial literacy campaigns must also be institutionalised,…