Abuja, Nigeria – Nigeria’s inflation rate has dropped for the second month, falling to 22.97% in May 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This marks a notable decrease from 23.71% in April and 24.23% in February, showing positive signs for the economy. 🧾…
The Federal Competition and Consumer Protection Commission (FCCPC) has officially summoned Air Peace Limited to appear before it following widespread passenger complaints regarding unrefunded ticket fares and flight cancellations. In a statement released on Monday, June 16, 2025, the Commission said the airline has been directed to appear at its Abuja headquarters on June 23,…
In a major development on Monday, the High Court of the Federal Capital Territory (FCT) granted bail to embattled former Central Bank Governor, Godwin Emefiele, for ₦2 billion. Justice Yusuf Halilu, who presided over the bail ruling, noted that although Emefiele has three ongoing criminal trials, he has not jumped bail in any of them,…
In a major development for Nigeria’s energy sector, the Dangote Petroleum Refinery has announced it will commence nationwide distribution of Premium Motor Spirit (PMS) and diesel starting August 15, 2025. The announcement was made in a statement released Sunday, revealing the deployment of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to facilitate fuel distribution across…
ABUJA- JUNE 14, 2025. In a bold move to strengthen Nigeria’s banking sector, the Central Bank of Nigeria (CBN) has directed all banks under regulatory forbearance to temporarily suspend dividend and bonus payments to their foreign subsidiaries and ventures. This was announced in a circular released on Friday and signed by the CBN Director of…
Nigeria’s petrol import bill has seen a dramatic reduction in the first quarter of 2025, dropping to ₦1.76 trillion from ₦3.81 trillion recorded in Q1 2024 — a year-on-year decline of over ₦2 trillion. According to the latest foreign trade report by the National Bureau of Statistics (NBS), this marks a significant 54% decrease and…
A new report by Proshare has revealed that only two Tier 1 Nigerian banks — Zenith Bank and Access Holdings Plc (AccessCorp) — have successfully met the N500 billion recapitalisation target mandated by the Central Bank of Nigeria (CBN) for banks with international operating licences. The report, titled “Tier 1 Banks Report: Getting Bigger, Braver,…
The Nigerian Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), has launched a formal investigation into the recent clash between leading Nigerian airline Air Peace and Senator Adams Oshiomhole, who represents Edo North in the National Assembly. In a statement posted to his official X (formerly Twitter) account on Friday, Keyamo confirmed that he…
Billionaire industrialist Aliko Dangote has officially announced his retirement as Chairman of the Board of Dangote Sugar Refinery Plc, marking the end of a historic 20-year leadership in one of Nigeria’s leading manufacturing companies. According to a statement released on Wednesday by the company’s secretary, Temitope Hassan, Dangote’s retirement will take effect from June 16,…
There was tension at Murtala Muhammed Airport Terminal 1 in Lagos on Wednesday morning as Senator Adams Oshiomhole, former Governor of Edo State and current Senator representing Edo North, clashed with Air Peace airline officials over what he described as passenger exploitation and flight mismanagement. Oshiomhole, speaking to Vanguard, narrated how he and several other…
