Author: Festus Adeloye

The Central Bank of Nigeria (CBN) has achieved its strongest foreign exchange reserve position in over three years, posting an impressive $23.11 billion in net reserves at the end of 2024. The development signals a robust recovery and enhanced financial stability for the country’s economy. It also reflects a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence. According to the CBN, NFER (Net foreign exchange reserve) stood at $23.11 billion, a marked increase from $3.99 billion at year-end 2023, $8.19 billion in 2022, and $14.59 billion in 2021. NFER, which adjusts gross reserves to account…

The Nigeria Customs Service (NCS) has debunked the purported extension of its Comptroller -General, Adewale Adeniyi’s tenure, stressing President Ahmed Tinubu, who has the authority to do so has not communicated it to the organisation. National Public Relations Officer, Abdullahi Maiwada stated this in a rejoinder. He said: ” ⁠For the avoidance of doubt, appointments and tenure extensions for the position of Comptroller-General of Customs are made solely at the discretion of the President and Commander-in-Chief of the Armed Forces, in line with the provisions of the Nigeria Customs Service Act 2023 and other relevant regulations governing public service appointments.…

The 2023 presidential candidate of the Labour Party, Peter Obi, has paid a condolence visit to Katsina State Governor, Dikko Radda, following the passing of his mother, Hajiya Safara’u Umaru Barebari. Radda’s mum died on March 23 at the age of 93. Obi expressed his his heartfelt condolences to the governor, his family and the good people of Katsina State. In a statement signed by Ibrahim Kaula Mohammed, the Chief Press Secretary to the Governor of Katsina, Obi was accompanied by the former Minister of Finance, Nenadi Usman and the national spokesperson of the Labour Party, Alhaji Yunusa Tanko. “We…

The Kogi State Government has asked security agencies to hold Senator Natasha Akpoti-Uduaghan of Kogi Central District responsible should any violence erupt in the North Central state.  In a statement on Tuesday, the state’s Commissioner for Information, Kingsley Fanwo, blamed the female senator for holding her homecoming rally despite the ban placed by the Governor Usman Ododo administration. “She should be held accountable for her blatant attempts to incite violence and cause unnecessary tension,” Fanwo said. The commissioner also said the female lawmaker allegedly has “plans to use her visit to stir trouble and violence in Kogi Central Senatorial District”. READ…

Senator Natasha Akpoti-Uduaghan on Tuesday received a rousing welcome from her supporters and residents of the Ihima community of Kogi, despite the state government’s ban on rallies and processions. As early as 8 am, her supporters from the five local government areas of Kogi Central Senatorial District that Akpoti-Uduaghan represents flooded the Ihima community of Okehi Local Government Area (LGA) to welcome the People’s Democratic Party (PDP) lawmaker. Several local musicians took turns entertaining the people who attended the celebration while they awaited the arrival of the female lawmaker. It did not, however, take long before the embattled senator arrived…

South Korea’s Constitutional Court will issue its long-awaited ruling on President Yoon Suk Yeol’s impeachment Friday, months after he was suspended for declaring martial law. Yoon’s December 3 attempt to subvert civilian rule plunged South Korea into political chaos after he sent armed soldiers into parliament. Lawmakers defied the troops to vote the measure down and impeached Yoon soon after, but months of political instability have hit South Korea’s economy and left the country in leadership limbo, as US President Donald Trump targets the region with sweeping tariffs. The court held weeks of impeachment hearings to determine whether to officially…

Motorists and petrol marketers in Lagos state have decried the rising price of petroleum products across the metropolis at the weekend as filling stations raised the pump price of the commodity to between N925 per litre and N935 per litre. This is in response to the increase in the landing cost of petrol, the stoppage by Dangote Refinery of the sales of the commodity in naira about two weeks ago and the delay in conclusion of negotiation on the naira for crude policy. Last Monday, the landing cost of the commodity rose to N843.28 per litre from a previous N797…

An activist,  Just Adetoun has apologised and made amends with a mother she publicly criticised for taking her 11-year-old daughter to her street-sweeping job as early as 5am. Many Nigerians condemned Adetoun’s action for her insensitivity especially in exposing the face of the minor and ridiculing the mother who was doing her legitimate job. Adetoun visited the mother’s home, acknowledging her initial approach was insensitive and expressing regret for any harm caused. Prior to the apology, Adetoun had filmed the mother, questioning her for bringing her 11-year-old daughter out by 5am for street-sweeping. She had also threatened to report her,…

Edison Ehie, Chief of Staff to suspended governor of Rivers State, Siminalayi Fubara , has alleged that he was offered N5 billion to coordinate the governor’s impeachment but he declined the offer. Ehie, who appeared on Channels Tevlevision’s ‘Sunday Politics’ added that he has proof of his claim on his mobile phone. He also disclosed that he has printed out the evidence and distributed it in the event of an attack against him. “I can also open my phone to show you, in the beginning of October 2023, when they approached me with a bribe of N5 billion. It is…

Presidential candidate of the Social Democratic Party (SDP) in the 2023 general elections, Adewole Adebayo has declared his willingness to step down his presidential aspiration in the 2027 elections in order for a better person to emerge as the party’s flag bearer. Adebayo made this statement on the Sunday edition of Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television. “Everybody knows that I have an aspiration. I’m working on it but God is the author of tomorrow; we don’t even know who is going to be around in 2027. “It is my prayer to God that…