CBN Reports Strongest Net Foreign Exchange Reserve Position in Over 3 Years

BusinessEconomyNewsNigeriaCBN Reports Strongest Net Foreign Exchange Reserve Position in Over 3 Years

Anthony O. OgboApril 2, 2025

The Central Bank of Nigeria (CBN) has announced a significant improvement in Nigeria’s Net Foreign Exchange Reserve (NFER), which has surged to $23.11 billion, the highest level in over three years. This marks a sharp increase from $3.99 billion at the end of 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The CBN attributed this growth to strategic policy measures, including a deliberate reduction in short-term foreign exchange liabilities, such as FX swaps...

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Gov Nwifuru Orders Arrest Of 6 Commissioners, 1 LGA Chairman

NewsNigeriaPoliticsGov Nwifuru Orders Arrest Of 6 Commissioners, 1 LGA Chairman

Hassan Umar Shallpella (Regional Correspondent)April 2, 2025

Due to shoddy deals by some contractors for sabotaging ongoing projects in Ebonyi state, the State Governor, Rt. Hon. Francis Nwifuru has ordered the arrest of 6 commissioners and Local Government Chairman. Those the governor ordered their arrests include, Prof. Omari Omaka, Commissioner for Tertiary Education, Hon.Victor Chukwu, Environment, Hon. Mr. Ifeanyi Ogbuewu, Culture and Tourism, Hon. Uchenna Igwe, Local Government and Chieftaincy Matters, Dr Moses Ekuma, Health and Hon. Felix Igboke, Project Monitoring, and...

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Tinubu Sacks CEO NNPCL, Dissolves Board

NewsNigeriaPoliticsTinubu Sacks CEO NNPCL, Dissolves Board

Hassan Umar Shallpella (Regional Correspondent)April 2, 2025

President Bola Tinubu has sacked the Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari and replaced him with Engineer Bashir Bayo Ojulari. Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced this in a statement on Wednesday, added that the president also dissolved its board, removing the Chairman, Chief Pius Akinyelure. The Special Adviser said Tinubu invoked his powers under section 59(2) of the Petroleum...

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Tinubu Signs Investment and Securities Act 2024 into Law

NewsNigeriaPoliticsTinubu Signs Investment and Securities Act 2024 into Law

By Ezinwanne Onwuka (Senior Reporter)April 2, 2025

President Bola Tinubu has approved the amended Investment and Securities Act (ISA) 2024, a move that promises to strengthen Nigeria’s capital market and boost investor confidence. The Securities and Exchange Commission (SEC) announced the development, describing it as a game-changer for the financial sector. “The new Act also introduces transformative provisions to further align Nigeria’s market operations with international best practice,” the SEC stated. One key highlight of the new law is the enhanced regulatory...

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Oyebanji Targeting 24-hour Flight Operation In Ekiti Airport

NewsNigeriaPoliticsOyebanji Targeting 24-hour Flight Operation In Ekiti Airport

Uzoamaka Ikezue (Staff Reporter)April 2, 2025

The   Ekiti State Governor, Mr. Biodun Oyebanji has announced that efforts are in place to ensure the Ekiti Agro-Allied International Cargo Airport runs 24-hour operation, in a bid to make the route competitive. He also expressed delight that the economy of the state has recorded significant improvement in the past two-and-a-half years, promising to do more in order to ensure a more sustainable development of the state and better living standard for the people....

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There Wasn’t Reprisal Attack Over 16 Slain Hunters In Edo – Groups

Crime & SecurityNewsNigeriaThere Wasn’t Reprisal Attack Over 16 Slain Hunters In Edo – Groups

Uzoamaka Ikezue (Staff Reporter)April 2, 2025

The Northern Youth Assembly and Inter-Tribe Community Support Forum have said that there wasn’t reprisal attack over 16 slain hunters in Uromi, Edo State. This was disclosed at a joint press conference which was held at the Kano NUJ press centre on Tuesday. According to Comrade Suleiman Idris, Chairman of the Northern Youth Assembly and Nworisa Michael, Coordinator of the Inter-Tribe Community Support Forum, the reported stories in some media outlets are fake news and misinformation...

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Kogi Govt Says Natasha’s Allegation Is Attempt To Manipulate Public Sentiment

NewsNigeriaPoliticsKogi Govt Says Natasha’s Allegation Is Attempt To Manipulate Public Sentiment

Uzoamaka Ikezue (Staff Reporter)April 2, 2025

The Kogi State Government has said that allegations by Senator Natasha Akpoti-Udughan, with regard to false alarm, is an attempt to manipulate public sentiment. It will be recalled that Uduaghan in her verified Facebook Page, early hours of Tuesday claimed that Governor Ahmed Usman Ododo, former Governor Yahaya Bello, and the Senate President, Godswill Akpabio should be held responsible if anything happens to her. The Commissioner for Information and Communications, Kingsley Femi Fanwo, had in...

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‘Otukpo is No Longer Safe’: Protesters Decry Rising Insecurity in Otukpo

Crime & SecurityNewsNigeria‘Otukpo is No Longer Safe’: Protesters Decry Rising Insecurity in Otukpo

By Ezinwanne Onwuka (Senior Reporter)April 1, 2025

Residents of Otukpo, the headquarters of Benue South Senatorial District, staged a massive protest on Tuesday against the escalating cases of kidnappings and killings in the area. Chanting war songs and demanding action, the demonstrators blocked major roads, disrupting movement into the town. Although the protest remained peaceful, the protesters insisted on urgent government intervention. “Otukpo is no longer safe. We cannot sleep with our two eyes closed. Our communities are under constant attack by...

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Tardy School Principals Will Be Fire In Adamawa – PPSMB

EducationNewsNigeriaTardy School Principals Will Be Fire In Adamawa – PPSMB

Hassan Umar Shallpella (Regional Correspondent)April 1, 2025

Following absenteeism by some public school principals in Adamawa State, the Post Primary Schools Management Board Yola, has taken stringent measures to halt the trend by sacking any Principal who abandoned his duty post. Mr.Birsan Penuel, Adamawa State Executive Secretary, Post Primary Schools Management Board (PPSMB) Yola dropped the hint during a visit to Daneyel Secondary School in the Girei local government area. The Executive Secretary frowned at the attitude exhibited by some principals by...

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Illegal Mining Threatens Peace In Three Communities Of Nasarawa

NewsNigeriaIllegal Mining Threatens Peace In Three Communities Of Nasarawa

Hassan Umar Shallpella (Regional Correspondent)April 1, 2025

Three communities, Agaza, Endo, and Agbagada in Kokona Local Government Area of Nasarawa State have raised concerns over illegal mining activities that threatened peaceful existence in their areas. Osu of Agwada, HRH Alhaji Abubakar Sadiq Obagu, while speaking with newsmen, expressed concern over the unsafe mining practices, which have resulted in multiple fatalities. The traditional ruler noted that illegal miners have begun invading the communities following alleged unauthorized operations by two Chinese-owned companies. “These companies commenced...

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