Author: Ogochukwu Ndubuisi

Council, Nigeria to Deepen Cooperation in Palm Oil Production The Council of Palm Oil Producing Countries (CPOPC) has expressed its commitment to deepen technical and policy cooperation with Nigeria in oil palm production, smallholder integration, and supply chain alignment. Izzana Salleh, Secretary-General of CPOPC said this in an interactive session with newsmen on Saturday in Abuja. Salleh identified the gesture as part of the objectives of the council’s mission in the country. Salleh who identified oil palm as indigenous to West Africa adding that Nigeria was once a global leader in its production. She emphasised that the opportunity before Nigeria…

The naira dropped at the official window, settling at N1346 per dollar as the rally slowed down after early momentum. For three consecutive trading sessions, the local currency has been pulling back due to increased demand for the US dollar in the currency market.

The Nigerian Exchange (NGX) closed the week on a positive note, as key market performance indicators rose by 0.99%. The market rally was driven primarily by continued buying interest amid positive trading momentum in medium and large-cap stocks across key market sectors.

Oando Plc has announced a plan to begin the second tranche of its share distribution to qualified shareholders, the energy company told the Nigerian Exchange.

Nigeria, Kenya to Revitalise Joint Commission for Cooperation Nigeria says it is committed to overhauling the Nigeria–Kenya Joint Commission for Cooperation (JCC) to strengthen the collaboration between the two countries for mutually beneficial development. The Ministry of Foreign Affairs quoted the Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, as saying this during the visit of the High Commissioner of Kenya to Nigeria, Isaac Parashina, to her office in Abuja. She described the visit as a “renewed demonstration” of both countries’ commitment to strengthening bilateral relations and advancing structured cooperation under existing diplomatic frameworks. Odumegwu-Ojukwu commended Kenya’s commitment to…

DSS Arraigns El-Rufai Feb. 25 on Alleged Cybercrime, Breach of National Security The Department of State Services (DSS) will on Feb 25, arraign former Gov. Nasir El-Rufai of Kaduna State on alleged cybercrime and breach of national security. Justice Joyce Abdulmalik of the Federal High Court (FHC) fixed the date after the Chief Judge, Justice John Tsoho, assigned the case to her. The DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Ngpfvuhu Ribadu. The charge, instituted by the Nigerian secret police, is…

AfDB Approves $200m Loan to Boost Nigeria’s Agricultural Productivity The Board of Directors of the African Development Bank Group has approved a 200 million dollars loan to scale up priority agricultural investments in Nigeria. The AfDB said this in a statementbon its website. It said the financing would support the second phase of the Federal Government’s National Agricultural Growth Scheme–Agro-Pocket (NAGS-AP). According to the statement, this aims at boosting productivity, strengthening value chains and accelerating climate-smart, data-driven farming. “The approval follows earlier financing under the Bank Group’s African Emergency Food Production Facility and will contribute to implementing five programmes under…

The Minister of State for Finance, Doris Anite-Uzoka, on Thursday announced plans to begin payments for the 2024 and 2025 capital budgets to ministries, departments, and agencies (MDAs).

The naira exchange rate dropped further at the Apex Bank’s official FX window due to increasing demand for foreign payments by eligible market participants.

ICPC Detains El-Rufai After Release From EFCC’s Custody The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has taken into custody the former governor of Kaduna State, Malam Nasir El-Rufai, over corruption allegations levelled against him. The former governor was arrested by the ICPC on Wednesday night shortly after he was released from the Economic and Financial Crimes Commission (EFCC) custody. ICPC Spokesperson, John Odey, confirmed in a statement that the commission on Wednesday night took the former governor into custody for questioning over some allegations. ”Malam Nasiru El-Rufai is in the custody of the commission in connection with…