As Nigeria battles rising inflation rates, which reached a near 30-year high of 34.8% in December 2024, the Financial Reporting Council (FRC) has reassured Nigerians that the country has not entered a hyperinflationary economy. In a statement signed by its Executive Secretary, Dr. Rabiu Olowo, the FRC clarified that the application of International Accounting Standards (IAS) 29, which governs financial reporting in hyperinflationary economies, is unnecessary for the 2024 financial…

LAGOS, Jan 23 – Nigeria’s Central Bank Governor, Olayemi Cardoso, has announced an optimistic economic outlook for 2025, projecting a GDP growth of 4.17%. Speaking at a conference on Thursday, Jan 23, 2025; Cardoso attributed the anticipated expansion to ongoing reforms and stabilizing inflation in Africa’s most populous nation. Reforms implemented by President Bola Tinubu’s administration in 2023, including the removal of petrol subsidies and the devaluation of the naira…

A prominent chieftain of the All Progressives Congress (APC), Fouad Oki, has called on the impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa, to focus on his legislative responsibilities and move on from his bid to reclaim the speakership position. Obasa, who was removed from his role last Monday, continues to assert that he remains the rightful Speaker of the Lagos Assembly. However, Oki has urged the…

After the abduction of five residents and a family in Abuja by bandits, the Federal Capital Territory (FCT) Police Command says it has launched a rescue operation for the victims. The attack occurred on Sunday at around 11 p.m. when an armed group numbering 20 arrived at the Health Centre extension area of Chikakore, a community in Kubwa, FCT. The victims whose homes were targeted and abducted include a resident…

The vice president, Kashim Shettima has expressed the determination of the ruling All Progressives Congress (APC) administration to fight corruption and fix the economy. Shettima also stated that the government is on the path of enthroning national cohesion and strengthening the independence of the judiciary. The vice president spoke at the national conference on strengthening democracy in Nigeria on Monday in Abuja. The conference themed, ‘Strengthening Nigeria’s democracy: Pathways to…

Less than two weeks after an operative of the Economic and Financial Crimes Commission (EFCC), was killed in Anambra State, the lifeless body of another official of the commission was discovered on a Lagos road. According to a video by SaharaReporters on Monday, the deceased operative, who was identified as Sylvanus, was found dead in Lagos, clad in a traditional attire. Onlookers were able to identify him as an official…

The Federal Civil Service Commission has begun a recruitment exercise for various positions within the Federal Civil Service. The Commission made this known on Monday in a statement by its Head of Press and Public Relations, Taiwo Hassan. The statement said that those who are eligible and interested should visit the commission’s recruitment portal to apply for any position they choose. The statement said, “The Federal Civil Service Commission is…

A swift response by vigilant community members at Artillery Junction in Port Harcourt led to the arrest of a minibus driver, Kelechi accused of collaborating with armed robbers to rob passengers. One chance drivers’ is a popular Nigerian slang commonly used for commercial vehicle robbers who usually disguise as commercial drivers The incident unfolded late Sunday night when two women raised an alarm, claiming they had been attacked by a…

The Lagos State Government has signed a Memorandum of Understanding (MoU) with the Federal Government’s Ministry of Finance Incorporated (MOFI) to initiate exploratory work on the ambitious Green Line project.  The state Commissioner for Information and Strategy, Gbenga Omotoso, made the announcement during a recent Citizen/Media Stakeholders forum organized by the Ministry.  He revealed that the 68 km Green Line, once completed, will connect Marina to the Lekki Free Trade…

Oil marketers in Nigeria have revealed a significant reduction in the landing cost of Premium Motor Spirit (PMS) as of Friday, with the price dropping to N922.65 per litre, down N32.35 from the N955 per litre at the Dangote Petroleum Refinery. This decrease has sparked fresh debates about the ongoing price structure of petrol in the country and the role of oil imports in Nigeria’s energy market. Marketers say the…

The Rivers State Police Command, through the operatives from the Hawk Unit, has announced the arrest of a suspected group of criminals at Blessing Street, Kom-Kom, in the Oyigbo Local Government Area. The spokesperson of Police Command, Grace Iringe-Koko, on Monday in a document shared with journalists, said this arrest came following a successful raid at their hideouts on 25 January. The Iringe-Koko highlighted that under the leadership of Commissioner of…

The Kremlin stated on Monday that it was still awaiting “signals” from the United States regarding a possible meeting between Russian President Vladimir Putin and US President Donald Trump. The announcement came after both leaders expressed their openness to talks last week, although neither side has provided details on when or how such a meeting would take place. Kremlin spokesman Dmitry Peskov told reporters that Russia had not yet received…