The federal government has mandated that road contractors work on-site for at least two weeks before receiving mobilisation fees. The Minister of Works, David Umahi, explained that the policy aims to ensure that only committed contractors handle Nigeria’s road projects, thereby reducing cases of abandoned construction sites. He stressed that the Ministry’s decision that every contractor must be at the site and working for at least two weeks before the mobilisation fee is paid is the way to go fo...
Mar 03, 2025•57 sec
Volodymyr Zelensky says the eve of the third anniversary of Russia’s invasion — that he was ready to quit as Ukraine’s president if it meant Kyiv would be admitted to the NATO military alliance. Zelensky says he wanted to meet Donald Trump before the US president meets his Russian counterpart Vladimir Putin. Zelensky and Trump have been engaged in a war of words since US and Russian officials met last week in Saudi Arabia for their first high-level talks in three years. The move undermined the W...
Feb 24, 2025•1 min
India and the UK will restart free trade talks nearly a year after negotiations were paused ahead of general elections in both countries. Jonathan Reynolds, the UK's business and trade secretary, is in Delhi, where he will meet his Indian counterpart Piyush Goyal to kick off the two-day discussions. Reynolds says it was a no-brainer to seek a trade deal with India, which was forecast to become the world's third-largest economy in a few years. The countries have held more than a dozen rounds of n...
Feb 24, 2025•1 min
The Rwandan government has condemned the US decision to sanction a government minister for his alleged role in the conflict in the east of neighbouring Democratic Republic of Congo. The US Treasury Department says Rwanda's Minister of State for Regional Integration James Kabarebe, a former army chief, was central to his country's support for the M23 rebel group. The US Treasury also sanctioned Lawrence Kanyuka, the M23's spokesman, as well as two companies he controls in Britain and France. The ...
Feb 24, 2025•1 min
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has restated the bank’s commitment to boosting economic cooperation between Nigeria and the Kingdom of Saudi Arabia. Cardoso emphasised the apex bank’s dedication to fostering partnerships across key sectors that drive economic growth. He says the Central Bank of Nigeria remains committed to advancing partnerships that will deepen economic ties between Nigeria and Saudi Arabia and will continue to explore opportunities that yield tang...
Feb 24, 2025•1 min
A federal high court in Lagos has ordered the forfeiture of $4.7 million, ₦830.9 million, and multiple properties linked to former Central Bank of Nigeria Governor, Godwin Emefiele. Justice Yellim Bogoro issued the order following a motion filed by the Economic and Financial Crimes Commission. The EFCC, through by its counsel Bilikisu Buhari, argued that the assets were proceeds of unlawful activities, citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Sec...
Feb 24, 2025•1 min
Liberian President Joseph Boakai has suspended more than 450 top government officials for failing to declare their assets to the anti-corruption agency. The presidency says they will be off work without pay for a month or "until they submit the required declarations. Boakai says that the officials had contravened the code of conduct for state officials by not being transparent about what they own. The president, who had pledged to fight corruption when he came into office last year, said failure...
Feb 18, 2025•1 min
The Central Bank of Kenya is enforcing stricter measures on Banks and those that fail to adjust could face fines of KES 20 million ($154,619) or three times the monetary gain from higher rates. Bank officials risk personal fines of up to KES 1 million ($7,730). Leading lenders—including KCB, Equity, Cooperative Bank, I&M, and DTB—have responded by slashing rates by one to four percentage points. Equity Bank, in particular, has made three reductions in six months, positioning itself as the mo...
Feb 18, 2025•1 min
The Nigerian Upstream Petroleum Regulatory Commission has revealed that the volume of stolen crude oil in the country has reduced to about 5,000 barrels per day, enabling oil production to rise to 1.75 million bpd as of January 2025. The Commission Chief Executive, Gbenga Komolafe says this was achieved through kinetic and non-kinetic interventions, crude oil production that dipped to 1.1mbpd in 2022 has now soared to 1.7mbpd. He projected that oil production will increase by one million bpd by ...
Feb 18, 2025•1 min
Keystone Bank issued a statement clarifying that the Lagos State Special Offences Court had ordered the forfeiture of shares previously held by its shareholders, transferring ownership to the federal government. Keystone Bank stated that the clarity around ownership will allow it to focus on raising the required capital to maintain its banking licence. Keystone Bank itself has a history of revival. It was created in 2011 after taking over the assets of the distressed BankPHB. BankPHB’s licence w...
Feb 18, 2025•59 sec
The Minister of Aviation and Aerospace Development, Festus Keyamo says President Bola Tinubu has decided to halt the proposed merger of the Nigeria Civil Aviation Authority and the Nigerian Airspace Management Agency. Keyamo revealed that the aviation sector is exempted from the ban because President Tinubu is desirous of change and growth in the sector. All government officials who intend to go on any publicly funded international trips must seek and obtain Presidential approval at least two we...
Feb 18, 2025•1 min
US President Donald Trump says he had told the Treasury to stop producing penny coins, presenting it as an effort to cut down on government spending. Trump’s order would likely require lawmakers’ approval but Treasury Secretary Scott Bessent may be able to simply stop the minting of new pennies. Economics professor Robert Triest of Northeastern University says Prices would likely be rounded to the nearest five cents if pennies are removed. Trump has made cutting the federal budget a prominent pa...
Feb 10, 2025•1 min
The United States will move to impose 25-percent tariffs on steel and aluminum imports this week the latest in a slew of trade levies he has announced. Trump says that the tariffs, which he will announce on Monday, will apply to any steel coming into the United States adding this will also affect aluminium. The Republican billionaire says he would announce reciprocal tariffs to match his government’s levies to the rates charged by other countries on US products. The new Chinese tariffs cover $14...
Feb 10, 2025•1 min
US President Donald Trump has accused South Africa of human rights violations against white farmers, continuing a dispute that escalated this week as the US froze aid to the country. The South African government says Trump's actions were based on "a campaign of misinformation and propaganda aimed at misrepresenting our great nation". Trump says he was bringing in the aid freeze because of South Africa's new land law, which he says is violating people's rights, and also because of its internation...
Feb 10, 2025•1 min
The Federal High Court in Lagos has ruled in favour of the Federal Competition and Consumer Protection Commission in a legal dispute involving MTN Nigeria, affirming the commission’s regulatory authority over competition and consumer protection in the telecommunications sector. Emeka Nnubia, a shareholder of MTN and a legal practitioner had sought to prevent the FCCPC from investigating MTN Nigeria, arguing that the Nigerian Communications Commission was the sole regulator of the telecom sector....
Feb 10, 2025•1 min
Stakeholders have called on the Federal Government to prioritise easing local pharmaceutical manufacturers’ challenges, including a harsh trade and regulatory environment, as it seeks to attract foreign investment into the sector. The former president of the Pharmaceutical Society of Nigeria, Olumide Akintayo, stressed that an enabling business environment is crucial for the industry to thrive. Akintayo says that local manufacturers must not be left to struggle under burdensome tariffs and high ...
Feb 10, 2025•1 min
The Central Bank of Nigeria has once again postponed its Monetary Policy Committee meeting, originally scheduled for February 17–18. The meeting has been delayed due to the unavailability of updated inflation data. Earlier this year, Nigeria revised its methodology for calculating the consumer price index and gross domestic product. The National Bureau of Statistics —which tracks inflation by monitoring the price changes of 740 goods and services in the CPI basket—expanded the basket to include ...
Feb 10, 2025•1 min
US Secretary of State Marco Rubio has demanded that Panama make immediate changes to what he calls the "influence and control" of China over the Panama Canal. America's top diplomat says Panama must act or the US would take necessary measures to protect its rights under a treaty between the two countries. The warning follows President Donald Trump's vow to retake the canal and a meeting between Rubio and Jose Raul Mulino, Panama's conservative president, in Panama City on Sunday. Mulino says the...
Feb 03, 2025•1 min
Prime Minister Justin Trudeau says Canada will hit back at US tariffs with 25 percent levies of its own on select American goods. He says Canada will be responding to the US trade action with 25 percent tariffs against Can$155 billion ($106 billion) worth of American goods. He says the first round of tariffs would target Can$30 billion worth of US goods on Tuesday followed by further tariffs on Can$125 billion worth of products in three weeks. The tariffs will apply to “everyday items” such as A...
Feb 03, 2025•1 min
Donald Trump says he ordered military air strikes on a senior attack planner and others from the Islamic State (IS) group in Somalia. The office of the president of Somalia saYS they had been informed of the US strike targeting senior IS leadership in the northern part of the country. The office of Somalia President Hassan Sheikh Mohamud says he acknowledges the unwavering support of the United States in the fight against international terrorism and welcomes the continued commitment under the de...
Feb 03, 2025•57 sec
The Democratic Republic of Congo has called on Arsenal, Bayern Munich and Paris St-Germain to end their blood stained" sponsorship deals with Visit Rwanda amid a worsening humanitarian crisis in the country. The appeal comes as M23 rebels captured Goma, the largest city in eastern DR Congo, while the United Nations refugee agency estimates more than 400,000 people have been forced from their homes this year. DR Congo's Foreign Minister Thérèse Kayikwamba Wagner highlighted how Visit Rwanda's spo...
Feb 03, 2025•1 min
The South African Reserve Bank has cut its benchmark rate by 25 basis points to 7.5%, marking the third consecutive easing. This move was widely expected, but the apex bank’s governor Lesetja Kganyago says he remains cautious, warning that future cuts may not come as easily. The decision, supported by four out of six Monetary Policy Committee (MPC) members, brings the prime lending rate for commercial banks down to 11%. Inflation in South Africa remains within the central bank’s target range (3....
Feb 03, 2025•1 min
The Federal Government says Nigerians should brace up for fresh electricity tariffs in months. President Bola Tinubu’s Special Adviser on Energy, Olu Verheijen, says the energy adviser said Nigeria’s power prices need to rise by about two-thirds for many customers to reflect the cost of supplying it. He says Higher electricity tariffs, which need to be balanced by subsidies for less-affluent consumers, are required to fund the maintenance needed to improve reliability and to attract private inve...
Feb 03, 2025•50 sec
The White House says the US will not go ahead with tariffs on Colombia, after Bogota agreed to accept - without restrictions - deported migrants. Donald Trump had ordered 25% tariffs on all Colombian goods after its president barred two US military deportation flights from landing in the country. Colombian President Gustavo Petro had initially responded by saying his country would accept repatriated citizens on civilian planes, without treating them like criminals. A White House statement says C...
Jan 31, 2025•1 min
South African President Cyril Ramaphosa has signed into law a bill allowing land seizures by the state without compensation - a move that has put him at odds with some members of his government. While Ramaphosa's ANC party hailed the law as a "significant milestone" in the country's transformation, some members of the coalition government say they may challenge it in court. The government says the law outlines how expropriation can be done and on what basis by the state It replaces the pre-democ...
Jan 31, 2025•1 min
The Ibadan Electricity Distribution Company is under fire for raising its minimum energy credit purchase requirement for Band A customers to N5,000. The Disco also capped the minimum energy credit for customers on other bands at N2,000, sparking outrage and condemnation from various consumer groups. The IBEDC says the recent update regarding IBEDC electricity recharge. Users on Band A must now make a minimum recharge purchase of N5,000. Users in other bands must make a minimum purchase of N2,000...
Jan 31, 2025•1 min
The Japanese city of Osaka on Monday imposed a smoking ban on public streets as part of efforts to become more visitor-friendly ahead of this year’s World Expo. Around 160 countries and regions are participating in Expo 2025, the latest edition of an event held every five years in different global locations. Mayor Hideyuki Yokoyama says the World Expo begins in April and will welcome many people from all over the world, so Osaka has to be a city where people feel safe with smoke-free streets. Lo...
Jan 31, 2025•1 min
The Senate and the House of Representatives have postponed their plenary resumption, previously scheduled for Tuesday, January 28, 2025, to Tuesday, February 4, 2025. The two legislative chambers announced the development in separate statements on Friday. The Clerk of the Senate, Andrew Nwoba, who informed senators of the shift in resumption date, said the postponement was due to the ongoing defence of the 2025 budget proposal by ministries, departments, and agencies. Become a supporter of this ...
Jan 31, 2025•52 sec
Syria’s new defence minister says it would not be right for US-backed Kurdish fighters based in the country’s northeast to retain their own bloc within the broader integrated Syrian armed forces. Murhaf Abu Qasra says that the Kurdish-led Syrian Democratic Forces was procrastinating in its handling of the complex issue. SDF commander Mazloum Abdi (also known as Mazloum Kobani) says one of their central demands is a decentralised administration, that the SDF was open to integrating with the Minis...
Jan 22, 2025•58 sec
TikTok restored service in the United States after briefly going dark, as a law banning the wildly popular app on national security grounds came into effect. TikTok credited President-elect Donald Trump, who retakes power on Monday, for making the reversal possible — though the outgoing administration of President Joe Biden had earlier said that it would not enforce any ban. Trump called for the United States to take part-ownership in TikTok having a 50% ownership position in a joint venture add...
Jan 22, 2025•1 min
