Author: Amina Mohammed

Nigeria’s headline inflation rate has dropped to 24.48% in January 2025, down from 34.80% in December 2024. The National Bureau of Statistics (NBS) announced this on Tuesday, stating that the Consumer Price Index (CPI) has declined to 24.48% year-on-year in January. The Statistician-General of the Federation, Adeyemi Adeniran, explained that the rebased CPI reflects the current inflationary pressure and consumption pattern of people living in the country. According to Adeniran, urban inflation stood at 26.09% while rural inflation was at 22.15%. The rebased food inflation rate also decreased to 26.08% year-on-year in January.

In a curious turn of events, the Department of State Security, this morning, uncovered arms cache in the office of the ousted speaker of the Lagos State House of Assembly, Mudashiru Obasa, a day after an uproar occasioned by the presence of the DSS in the assembly complex. Sources in the assembly hinted that the security operatives assigned to the Assembly, had during their routine sweeping exercise, discovered a stack of new arms, including pump action numbering about 47, and live cartridges neatly kept somewhere within the speaker’s office space. The security men, sources claimed, had immediately alerted the state…

Former Delta State Governor, Chief James Onanefe Ibori has described the late PANDEF leader, Edwin Clark as an exceptional leader and fearless fighter who never hesitated to speak the truth when it mattered most. Clark died on Monday at the age of 97. In a statement on his social media pages, Ibori said the late Clark during his lifetime exhibited the true spirit of the Niger Delta, which are courage, determination and an unyielding commitment to justice. “Chief Edwin Kiagbodo Clark (E. K. Clark) was a fearless fighter, a staunch federalist, and an exceptional leader of our time”. “He never…

A high court in Kano State has issued a permanent order restraining the Central Bank of Nigeria (CBN) from withholding funds allocated to the 44 local government areas (LGAs) of the state. The ruling, delivered by Justice Ibrahim Musa-Muhammad, came after an ex parte motion filed on November 1 by the National Union of Local Government Employees (NULGE), Ibrahim Muhammed, and five others. The motion sought to prevent the respondents from withholding or delaying allocations essential for local governance. Among the respondents were the accountant-general of the federation (AGF), the CBN, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the…

Former President Muhammadu Buhari has mourned Pan Niger Delta Forum leader, Edwin Clark, describing him as an iconic statesman. Buhari made this disclosure in a condolence statement on Tuesday. According to him, the death of Clark had caused deep sorrow in his heart and that of many in the country. In the statement, Buhari said, “Late Chief Edwin Clark was a leader dedicated to reforms whose commitment to the development of his community and the nation would always be remembered. His death caused deep sorrow in his heart, and that of many, and his departure was a loss for the…

The House of Representatives has called on the relevant Federal Government agencies to implement tough measures against homicidal and femicidal acts in Nigeria. The resolution of the House followed the adoption of a motion during Tuesday’s plenary, moved by Rivers lawmaker, Awaji-Inombek Abiante and three others. Drumming support for the motion, Abiante noted that the right to life is a fundamental human right guaranteed by the Constitution, while homicide cases, including murder, manslaughter, and other violent crimes leading to the termination of life, have been on the rise across the country, provoking public demand for justice. He said, “Fernicide, which…

A Russian court sentenced a man to 13 years in jail on treason charges for reaching out to a recruiter for the Ukrainian army, the FSB security service said Tuesday. Moscow has jailed dozens of Russians for allegedly collaborating with or supporting Kyiv’s military since Russia launched its full-scale military offensive in February 2022. The FSB said a man named Artem Konstantinov, born in 2000, contacted the Ukrainian army on the Telegram messaging app “and expressed his willingness to participate in combat actions on the territory of Ukraine against the Russian armed forces”. A court in the Arctic region of…

The Central Bank of Nigeria has ordered bank directors with non-performing insider-related loans to step down immediately. Insider loans refer to loans granted by a bank to its own executives, directors, employees, major shareholders, or related parties. The directive was issued in a circular signed by the Acting Director of Banking Supervision, Adetona Adedeji, on Monday. According to the CBN, the decision aims to strengthen corporate governance and improve risk management in the banking sector. To minimise financial risks, the apex bank instructed banks to take action by recovering debts through collateral enforcement and seizing the shareholdings of affected directors.…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has canvassed stronger economic ties with the Middle East and the Nigerian diaspora community in the region. Speaking during a meeting with Talal Al-Humond, the Assistant Governor for Monetary Affairs, Saudi Arabia Central Bank – SAMA, on the sideline of the just-concluded inaugural Conference on Emerging Markets Economies organised by the Ministry of Finance, Saudi Arabia, and the International Monetary Fund (IMF) Regional Office in Riyadh, Cardoso said there were lessons to be learned from Saudi Arabia in terms of infrastructural development and tourism. According to him, Saudi Arabia’s…

A military airstrike targeting bandits mistakenly claimed the lives of six persons at Yauni Community of Zakka Ward in Safana Local Government Area of Katsina State. This tragic incident, however, left the community in great shock and pandemonium. Security sources told Newsmen on Monday that those killed were mostly single family members, comprising three children, a man, and two women. The incident, which occurred in the aftermath of Saturday’s Local Government Elections, occurred after security operatives attempted to thwart an attack planned by bandits against voters in Zakka village. Eyewitness recalled that security forces, comprising the police and members of…