Author: Damilola

The Nigerian currency strengthened to N1,340 per dollar at the parallel segment of the foreign exchange market on Friday, marking a 1.12 percent appreciation from N1,355/$ recorded on February 19. The latest figure represents the naira’s best showing since April 2024, when it traded within the N1,300/$ range. Earlier in the week, the currency posted steady gains in the black market, appreciating to N1,385/$ on February 16, N1,380/$ on February 17, and N1,365/$ on February 18. However, at the official window — the Nigerian Foreign Exchange Market (NFEM) — the naira weakened slightly. It fell by 0.37 percent to N1,346.32…

The Supreme Court of the United States has invalidated the broad global tariffs introduced by President Donald Trump, ruling that he exceeded his constitutional authority. In a 6–3 decision issued on Friday, the justices upheld a lower court’s determination that Trump improperly relied on the International Emergency Economic Powers Act (IEEPA) to justify the sweeping import duties. The court found that the 1977 law, which was crafted to address national emergencies, does not grant the president unilateral power to impose extensive tariffs without approval from Congress. Chief Justice John Roberts, who authored the majority opinion, stressed the constitutional boundaries surrounding…

An airport in Florida is set to bear the name of President Donald Trump after the state legislature passed a bill authorising the change on Thursday. The Republican-controlled Florida legislature voted to redesignate Palm Beach International Airport as the “President Donald J. Trump International Airport,” according to official state records. The measure now awaits the signature of Governor Ron DeSantis, who is widely expected to approve it despite previously clashing politically with Trump. Located in Palm Beach, an affluent coastal community known for its beaches and high-end properties, the airport sits just minutes from Trump’s private estate, Mar-a-Lago. Before the…

The Nigeria Police Force in Cross River State has arrested a former presidential aide, Barrister Okoi Obono-Obla, over allegations linked to forgery and fraudulent entry into the legal profession. In a statement issued by the state police spokesperson, Eitokpah Sunday, the command said Obono-Obla was “lawfully arrested” on Thursday at Abuja Park in Ugep, Cross River State. According to the police, the action followed a petition submitted to the state commissioner of police accusing him of “forgery and obtaining admission or professional qualification/entry into the legal profession by false pretence”. The command rejected reports suggesting that the former presidential adviser…

An operative of the Department of State Services (DSS) has explained before the Federal High Court in Abuja how advanced digital forensic techniques were deployed to identify and apprehend suspects linked to the June 5, 2022 attack on St. Francis Catholic Church in Owo, Ondo State. Testifying before Justice Emeka Nwite, the witness, identified as SSK, described how investigators applied call geospatial network filtering, cell tower triangulation and International Mobile Equipment Identity (IMEI) tracking to trace the first defendant, Idris Abdulmalik Omeiza. Led in evidence by DSS counsel Ayodeji Adedipe, the operative said thousands of phone numbers that connected to…

The Federal Government has announced plans to implement 30 per cent of the 2025 capital budget before the end of November, in a renewed push to accelerate project delivery and clear pending obligations. The decision follows a directive to Ministries, Departments and Agencies (MDAs) to strictly adhere to procurement regulations in executing and processing payments for capital projects under the extended 2025 budget cycle. In a statement issued on Thursday bythe Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, the government said MDAs had been ordered to fully comply with the…

Prosecutors in Morocco have asked a court to impose prison sentences of up to two years on 18 Senegalese football supporters arrested after last month’s Africa Cup of Nations (AFCON) final in Rabat, according to an AFP journalist present at the hearing. Arguing for the stiffest penalties in some cases, the prosecution told the court that the accused had “deliberately sought to disrupt the proper conduct of the match”. It further alleged that the group “committed acts of violence broadcast live on television”. The defendants, however, rejected the accusations and denied any involvement in wrongdoing. The supporters have remained in…

Nigeria’s external reserves have reached $48.5 billion, marking their strongest level in roughly 13 years. Figures published by the Central Bank of Nigeria (CBN) show that the last time reserves were at a similar level was on May 14, 2013, when they stood at about $48.51 billion. The latest data indicate a steady build-up in reserves since the start of the year. From $45.56 billion recorded on January 1, the stock has risen by $2.94 billion — a 6.45 percent increase year-to-date. On Monday, reserves were reported at $48.36 billion before climbing further to Tuesday’s figure. The apex bank defines…

A 37-year-old Nigerian, Matthew A. Akande, has been handed an eight-year prison sentence for masterminding a cyber fraud operation that targeted tax preparation firms and defrauded the United States government of more than $1.3 million. The conviction was announced in a statement published on an official U.S. government website on Wednesday. Akande, who had been residing in Mexico prior to his arrest, was sentenced on Tuesday by U.S. District Judge Indira Talwani in a federal court in Boston. In addition to his prison term, he was ordered to pay $1,393,230 in restitution and will serve three years of supervised release…

Taraba State Governor, Agbu Kefas, has refuted allegations that financial inducement influenced his decision to leave the Peoples Democratic Party (PDP) for the All Progressives Congress (APC). Kefas addressed journalists at the State House on Wednesday following his first official meeting with President Bola Tinubu at the Aso Rock Villa since formally joining the ruling party. The New Daily Prime reported Kefas defected to the APC in January 2026. He maintained that his defection was guided by what he described as the best interests of Taraba State and not by monetary considerations. “My decision was based on what is best…