Author: Samuel Akpenpuun

The Central Bank of Nigeria (CBN) has suspended the extension of export proceeds by banks on behalf of exporters. Ag. Director of Trade and Exchange Department, Dr. W.J Kanya, disclosed this yesterday   in a circular   to Authorised Dealers and the general public, adding that that the decision was Pursuant to provision of Memorandum 10A (23a) and Memorandum 10B (20a) of the Foreign Exchange Manual Revised Edition of March 2018 in respect of repatriation of export proceeds for oil and non-oil export. The apex bank directed that from the date of the circular,  “CBN will no longer approve requests for extension…

Jude Bellingham and Rodrygo struck to earn Real Madrid a 3-0 win over Real Mallorca on Thursday and set up a Spanish Super Cup final clash with rivals Barcelona. Madrid have the chance to earn revenge for their heavy Clasico defeat in La Liga in October after Bellingham’s clinical second-half strike sent them on their way to victory in Saudi Arabia. Backed heavily by fans in Jeddah Madrid never looked like letting the advantage slip and a stoppage-time own goal by Martin Valjent secured their win, with Rodrygo adding a late third from close range. Real Madrid made the early…

Novak Djokovic claimed Thursday that he was “poisoned” by lead and mercury in his food during his troubled and brief stay in Melbourne in 2022 before he was deported on the eve of the Australian Open. The former world number one had his visa cancelled and was eventually kicked out of the country over his refusal to be vaccinated against Covid. He was held in a detention hotel as he fought a fruitless legal battle to remain. “I had some health issues. And I realised that in that hotel in Melbourne I was fed some food that poisoned me,” the…

Nigeria’s headline inflation rate is projected to average 30.5% year-on-year in 2025 and settle at 27.1% by December 2025. According to the latest NESG-Stanbic IBTC Business Confidence Monitor report, the forecast is based on the premise that headline inflation is expected to remain sticky in September 2025 but settle below 30.0% from September 2025, as high petrol cost gets smoothened out of the year-on-year headline inflation, barring any unexpected negative shocks to petrol prices. Inflation remains a central concern for Nigeria’s economy, with rising fuel costs and currency depreciation driving up expenses across all sectors. The report stated, “We expect…

As the economic hardship in the country bites harder by the day, the Edo State Governor, Monday Okpebholo, has procured 60 new Toyota Prado SUVs for government officials and politicians in the State. According to sources within the Edo State Government House, a total of ₦9.6 billion is said to have been expended by the governor for the purchase of the 60 Toyota sports utility vehicles at N160 million each. This, the sources revealed, is in addition to the over N5bn already lavished by the State Government in the first two weeks of Okpebholo’s administration to procure a new fleet…

Justice Emeka Nwite of the Federal High Court Abuja has made an order of interim freezing and forfeiture of the sum of over N228.4 million linked to former Governor of Abia State, Theodore Orji, to the Federal Government on allegations of money laundering. Ruling on an ex-parte motion moved by the Counsel to the Economic and Financial Crimes Commission (EFCC), Fadila Yusuf, Justice Nwite also directed the Commission to make publication of the order on its website and Daily Trust Newspaper. According to Justice Nwite’s order, interested parties should show cause within 14 days of the publication of the order.…

French President Emmanuel Macron “deserves” respect and is “sometimes” hurt by criticism, his wife Brigitte said in an interview broadcast on Wednesday. But she insisted he has no intention of resigning before the end of his term. France has been mired in political deadlock since Macron gambled on snap elections last summer in a bid to bolster his authority and combat the surge of the far right. The move backfired, with voters electing a parliament fractured between three rival blocs, while Macron’s approval ratings hover at record lows. The 47-year-old French leader has been weakened by months of political crisis,…

The Permanent Secretary of the Federal Ministry of Aviation and Aerospace Development, Ibrahim Kana, has clarified his earlier remarks regarding the revival of the National Carrier Project, addressing widespread speculation and inquiries. In a statement issued on Tuesday, Kana sought to clear up any ambiguities surrounding comments he made during the ministry’s handover ceremony earlier in the week. He said, “For the avoidance of doubt, I never said that there is a mandate to revive the botched Nigeria Air deal with Ethiopian Airlines. “I received no such instruction. I was only referring to the general vision of the administration to…

UK Prime Minister Keir Starmer will hold talks with French President Emmanuel Macron in Britain on Thursday, a Downing Street spokesperson said Wednesday. The meeting comes after the two leaders earlier this week hit out at tech billionaire Elon Musk over his increasingly strident interventions into domestic European politics. Starmer will host Macron at his country house retreat of Chequers in Buckinghamshire near London, the prime minister’s official spokesman told reporters in parliament. “The meeting will focus on areas of cooperation and shared global challenges, including support for Ukraine, tech and AI growth, and tackling illegal migration,” the spokesman said.…

Borno State Governor, Professor Babagana Umara Zulum, has approved the release of N1.4 billion for the immediate dualization of 1.9km road from Ngomari junction to Muhammadu Buhari International Airport, Maiduguri. The approval was given at the maiden state executive council meeting held at the Government House. Briefing journalists at the end of the Council’s deliberations, Commissioner for Works, Mustapha Gubio, said the road network will ease movement of people in and out of the airport which will soon commence international flight operations. “Apart from the N1.4 billion approval made for dualization of the Gomari Junction to Muhammadu Buhari International Airport…