CBN Maintains 27.5 Per Cent Interest Rate to Tackle Inflation

BusinessNewsNigeriaCBN Maintains 27.5 Per Cent Interest Rate to Tackle Inflation

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

The Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5 per cent, following six consecutive hikes last year. This decision comes amidst observed stability in the foreign exchange market and a gradual decline in inflation rates. CBN Governor, Olayemi Cardoso, addressed the press in Abuja, expressing satisfaction with recent macroeconomic trends. He noted, “Inflation is trending down, and it’s looking positive,” emphasising the bank’s objective to reduce inflation to single-digit...

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June 12, 1993 Presidential Election Annulment Was a Mistake – Babangida

NewsNigeriaPoliticsJune 12, 1993 Presidential Election Annulment Was a Mistake – Babangida

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

Former Nigerian military president, General Ibrahim Badamasi Babangida (IBB), has publicly expressed regret over the annulment of the June 12, 1993, presidential election, widely regarded as one of the freest and fairest in the nation’s history. Speaking at the launch of his autobiography, “A Journey in Service,” in Abuja on Thursday, Babangida admitted that the decision to nullify the election was a misstep. “I regret June 12. I accept full responsibility for the decisions taken,...

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Army Chief: “We’ve Eliminated Top Bandit Leaders, Turji Is Next”

National SecurityNewsNigeriaArmy Chief: “We’ve Eliminated Top Bandit Leaders, Turji Is Next”

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

The Chief of Army Staff, Lieutenant General Olufemi Oluyede, has vowed that the Nigerian military will track down and eliminate notorious bandit leader Bello Turji. Speaking in Gusau, the Zamfara State capital, on Thursday, Oluyede assured that troops were actively pursuing Turji and would not stop until he was taken out. “Bello Turji is on the run as we speak, and everywhere he goes, we follow him there. Let him keep running, it is just...

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US Ambassador to Nigeria Says No Proof That U.S. Funds Boko Haram

NewsNigeriaPoliticsUS Ambassador to Nigeria Says No Proof That U.S. Funds Boko Haram

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

… Ready to Investigate Any Evidence The United States Ambassador to Nigeria, Richard Mills, has dismissed claims that the U.S. government, through USAID, has been funding the Boko Haram terrorist group, insisting there is no evidence to support such allegations. Speaking with journalists after a meeting with the Nigerian Governors’ Forum in Abuja on Wednesday night, Mills made it clear that the US has always stood against Boko Haram. “There’s no friend of Nigeria that...

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Nigeria’s Inflation Falls to 24.48% Following CPI Recalculation

EconomyNewsNigeriaNigeria’s Inflation Falls to 24.48% Following CPI Recalculation

By Ezinwanne Onwuka (Senior Reporter)February 20, 2025

Nigeria’s annual inflation rate declined to 24.48 per cent in January 2025 from 34.80 per cent in December 2024, following the adjustment of the Consumer Price Index (CPI), the National Bureau of Statistics (NBS) has reported. The NBS explained that the rebasing exercise, which updated the reference basket of goods and services, was necessary to ensure that inflation measurement reflects current economic realities and consumer spending patterns. This marks the first CPI rebasing in Nigeria...

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Senate Demand Answers Over Alleged USAID Links to Boko Haram

NewsNigeriaPoliticsSenate Demand Answers Over Alleged USAID Links to Boko Haram

By Ezinwanne Onwuka (Senior Reporter)February 19, 2025

The Nigerian Senate has resolved to summon key security officials to a closed-door session following allegations by the US Congressman Scott Perry that the United States Agency for International Development (USAID) has been funding Boko Haram and other terrorist organisations in Nigeria. The officials invited include National Security Adviser Nuhu Ribadu, Director-General of the National Intelligence Agency (NIA) Mohammed Mohammed, Director-General of the State Security Service (SSS) Adeola Ajayi, and Chief of Defence Intelligence at...

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Missing Ipetumodu Monarch Found in FBI Custody

Crime & SecurityNewsNigeriaMissing Ipetumodu Monarch Found in FBI Custody

By Ezinwanne Onwuka (Senior Reporter)February 18, 2025

…Faces $4.2 Million COVID-19 Fraud Charges The Apetu of Ipetumodu, Oba Joseph Oloyede, who was declared missing on 3 March 2024, has been found in the custody of the United States Federal Bureau of Investigation (FBI). The traditional ruler is currently facing a 13-count fraud indictment in the US District Court for the Northern District of Ohio over allegations of defrauding the US government of $4.2 million in COVID-19 relief funds. Oba Oloyede, who also...

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Lagos Lawmakers Suspend Plenary After Clash with DSS Over Speaker’s Impeachment

NewsNigeriaPoliticsLagos Lawmakers Suspend Plenary After Clash with DSS Over Speaker’s Impeachment

By Ezinwanne Onwuka (Senior Reporter)February 18, 2025

…Lawmakers Stand by Meranda The Lagos State House of Assembly descended into chaos on Monday as operatives from the Department of State Services (DSS) and the Nigerian Police Force entered the assembly premises. The security personnel reportedly sealed the offices of Speaker Mojisola Meranda, Deputy Speaker, and the Clerk of the House. This action led to a tense standoff between lawmakers and security officers, with the lawmakers eventually regaining access to the assembly. The unexpected...

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NDLEA Officer Burnt Alive by Mob in Kaduna Following Fatal Police Chase

Crime & SecurityNewsNigeriaNDLEA Officer Burnt Alive by Mob in Kaduna Following Fatal Police Chase

By Ezinwanne Onwuka (Senior Reporter)February 17, 2025

An official of the National Drug Law Enforcement Agency (NDLEA), Aliyu Imran, was brutally murdered by a mob in the Gadan-Gayan area of Igabi Local Government Area, Kaduna State. Imran, an Assistant Superintendent of Narcotics 1, was reportedly burnt alive after a police chase involving NDLEA officers ended in a fatal accident. According to reports, Imran and his colleagues were pursuing a suspected drug dealer when the suspect reversed his vehicle, hitting several pedestrians and...

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Muslim Group Calls for Probe Into USAID’s Alleged Boko Haram Funding

NewsNigeriaPoliticsMuslim Group Calls for Probe Into USAID’s Alleged Boko Haram Funding

By Ezinwanne Onwuka (Senior Reporter)February 17, 2025

The Muslim Public Affairs Centre (MPAC) has called on the National Assembly to investigate allegations that the United States Agency for International Development (USAID) may have funded Boko Haram, the terrorist group responsible for thousands of deaths across Nigeria. The allegations stem from claims made by U.S. Congressman Scott Perry during a congressional hearing, where he suggested that USAID had financially supported Boko Haram and other extremist groups. Perry, a Republican representative from Pennsylvania, accused...

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