Author: Damilola

The Nigerian Naira is holding within a tight range against the United States Dollar across both official and parallel markets, reflecting sustained demand pressures and cautious sentiment among market participants. At the Nigerian Foreign Exchange Market (NFEM) official trading window, the naira is currently trading between ₦1,350 and ₦1,355 per dollar, in line with recent sessions where it hovered around ₦1,351.59/$ and ₦1,350.74/$. The relative stability is linked to the managed float framework maintained by the Central Bank of Nigeria, alongside periodic interventions to stabilise liquidity. In contrast, the parallel market continues to reflect stronger demand for foreign currency outside…

The Nigerian Senate has directed its Committee on Health to investigate reports of new COVID-19 cases following conflicting accounts from health authorities and officials in Cross River State. The directive was issued during plenary by Senate President Godswill Akpabio, who tasked the committee—chaired by Ipalibo Banigo—to verify the claims and submit its findings by next Tuesday. The move comes amid reports suggesting that 10 new COVID-19 cases had been recorded in the state. However, the state government has denied the figure, insisting that only one confirmed case exists. Both the Nigeria Centre for Disease Control and Prevention (NCDC) and the…

Both chambers of the UK parliament have approved legislation that will prevent anyone aged 17 and under from ever legally purchasing cigarettes, marking a significant shift in public health policy. The proposed law, known as the Tobacco and Vapes Bill, targets individuals born on or after January 1, 2009, effectively ensuring that future generations are permanently barred from buying tobacco products. UK Health Secretary, Wes Streeting, described the development as a landmark step in tackling smoking-related harm. He said the move represents a “historic moment for the nation’s health” and would help deliver the “first smoke-free generation, protected from a…

President Bola Tinubu has asked the National Assembly to approve a $516,333,007 external loan to finance key segments of the Sokoto-Badagry superhighway project. The request, conveyed in a letter to Senate President Godswill Akpabio, was read during plenary on Thursday. Tinubu explained that the facility, expected to be sourced through a syndicated arrangement led by Deutsche Bank, will be used to fund sections 1, 1A, and 1B of the highway, covering approximately 120 kilometres. He also urged lawmakers to incorporate the proposed borrowing into the federal government’s existing borrowing plan already approved by the legislature. Describing the project as a…

President Donald Trump has declared that the United States has taken full control of the Strait of Hormuz, a vital global route for crude oil shipments, amid ongoing tensions involving Iran. The waterway has remained at the centre of geopolitical strain since the outbreak of hostilities between Iran and the US/Israel alliance earlier this year. Iran’s earlier blockade significantly disrupted global oil supply, triggering price surges and prompting countries to adopt strict energy-saving measures. Although a ceasefire initially led Tehran to reopen the strait for commercial use, that decision was reversed within a day. Iranian authorities accused Washington of “piracy”…

Former Ogun governorship aspirant, Iyabo Obasanjo, has expressed reservations about how the All Progressives Congress (APC) arrived at its consensus candidate for the 2027 election in the state. On April 13, Governor Dapo Abiodun announced Solomon Adeola, the senator representing Ogun West, as the party’s preferred flagbearer following a caucus meeting in Abeokuta. He said the decision was reached after consultations aimed at promoting unity and continuity within the party. Iyabo, daughter of former president Olusegun Obasanjo, subsequently stepped down from the race after the announcement. READ RELATED STORY Iyabo Obasanjo shelves Ogun gov ambition Iyabo Obasanjo returns to politics,…

Fresh concerns over xenophobia have emerged in South Africa following the circulation of viral videos showing hostility towards African migrants in different parts of the country. In one widely shared clip, a group of locals confronted a Ghanaian national, questioning his presence and accusing migrants of abandoning their home countries instead of improving them. “This thing of you guys moving from one country to the other, its no longer working,” a woman said on behalf of the group. “We don’t want these African people anymore. We’re tired of seeing African migrants moving all over the world, refusing to fix your…

Former Vice-President Atiku Abubakar has raised concerns over a provision in Nigeria’s Electoral Act that allows a returning officer to decide whether a ballot paper without an official mark should be counted, describing the clause as a serious threat to credible elections. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Abubakar criticised Section 63 of the Act, warning that it introduces a level of subjectivity that could undermine the electoral process. According to Atiku, the issue goes beyond a simple drafting oversight and has far-reaching implications for the integrity of elections in the country.…

The interim National Chairman of the Labour Party (LP), Nenadi Usman, has indicated that the party’s 2023 presidential candidate, Peter Obi, may be unable to run under its platform in the 2027 elections due to statutory membership rules. Speaking during an appearance on Arise TV on Wednesday, Usman explained that provisions in the Electoral Act require political parties to finalise and submit their membership registers to the Independent National Electoral Commission (INEC) ahead of primaries effectively shutting out late entrants. She said, “Well it will be too late actually for him to come back because if you look at the…

The Nigerian Naira weakened marginally against the US Dollar in early trading on Thursday, April 23, 2026, as pressure from mid-week demand continued to shape movements across both official and parallel foreign exchange markets. At the Nigerian Foreign Exchange Market (NFEM), the local currency opened softer, with data from the FMDQ Securities Exchange indicating an average rate of 1,351.59 Naira to the dollar. This represents a slight drop compared to earlier in the week, when the currency traded closer to the 1,347 mark. Activity at the official window remains closely watched by investors, particularly in light of the Central Bank…