The Federal Government has inaugurated a new governing board for the Nigeria Commodity Exchange (NCX), in a renewed push to strengthen commodity trading and boost non-oil exports. The inauguration, held in Abuja, marks the beginning of a new leadership phase aimed at repositioning the Exchange for improved performance and global competitiveness. Confirming the development, Jumoke Oduwole, the Minister of Industry, Trade and Investment, said the board will provide the strategic direction required to fully operationalise the Exchange and deepen its impact on the economy. She described the NCX as a critical driver of price discovery, market transparency, and the expansion…
Author: Elvis Eromosele
History is not a passive record; it is an active force. It shapes memory, guides judgment, and ultimately determines how men are weighed long after they are gone. To distort it is not a harmless indulgence—it is an assault on truth itself. Indeed, as the philosopher George Orwell warned, “Who controls the past controls the future; who controls the present controls the past.” Falsehood, once etched into the permanent ledger of print and the restless archive of the internet, hardens into accepted truth. It is for this reason—and this reason alone—that I write. Not to define myself, for I am…
By Elvis Eromosele Lagos is striving to position itself as a modern, future-ready city, with increasing focus on infrastructure and traffic management. Yet, one of its most aggressive enforcement strategies, the crackdown on one-way driving, has become deeply controversial, raising serious questions about fairness, proportionality, and public trust. Driving against traffic, commonly called “one-way,” is undeniably dangerous. It contributes to head-on collisions and worsens congestion in an already strained transport system. To curb this, the Lagos State Environmental and Special Offences Unit, working alongside Lagos State Traffic Management Authority and mobile courts, has adopted a zero-tolerance approach. Vehicles are impounded,…
Zenith Bank Plc has reported a Profit Before Tax (PBT) of N1.26 trillion for the 2025 financial year, alongside a 100 per cent increase in dividend payout to shareholders, underscoring its resilience amid balance sheet adjustments. According to its audited full-year results ended December 31, 2025, the bank posted gross earnings of N4.19 trillion, representing a six per cent increase from N3.97 trillion recorded in 2024. The performance was driven largely by a 35 per cent surge in interest income to N3.7 trillion, supported by higher asset yields, growth in interest-earning assets, and improved pricing strategies. Net interest income also…
The Nigerian Communications Commission (NCC) has announced that telecom subscribers will begin receiving compensation for poor service quality starting this April, marking a major shift in consumer protection within Nigeria’s telecom sector. The regulator made this known in a Frequently Asked Questions (FAQ) document released on Tuesday, outlining how the directive will work and who qualifies for compensation. According to the NCC, the policy applies specifically to Mobile Network Operators (MNOs) that fail to meet the Commission’s Quality of Service (QoS) benchmarks. These operators include MTN Nigeria, Airtel Nigeria, Globacom, and 9mobile, although the Commission did not name any provider…
Peter Obi, former Anambra State Governor, has raised concerns over the Federal Government’s latest approval of N3.3 trillion to settle debts in Nigeria’s power sector, questioning the transparency and execution of similar past interventions. Obi, who spoke via a post on X on April 7, 2026, challenged the administration of President Bola Ahmed Tinubu, noting that this is not the first time such approvals have been announced. According to him, previous debt settlement plans, including a N3.3 trillion approval in May 2024 and a N4 trillion bond in July 2024, were also aimed at addressing the same liabilities. “This raises…
Global oil prices, including Nigeria’s Bonny Light crude, fell sharply below $95 per barrel on Wednesday following a ceasefire agreement between the United States and Iran, easing fears of prolonged supply disruptions. The decline comes after Iran agreed to reopen the Strait of Hormuz, a critical route for about 20 per cent of global energy supply, for two weeks as part of a temporary truce with the U.S. Benchmark crudes, Brent and WTI, dropped by more than 15%, reversing earlier gains driven by escalating tensions in the Middle East. The breakthrough followed an announcement by U.S. President Donald Trump, who…
Iran’s participation in the 2026 FIFA World Cup remains uncertain as the country awaits a response from FIFA over its request to relocate group-stage matches from the United States to Mexico. The request, submitted by the Iranian government, seeks a venue change amid rising geopolitical tensions and security concerns linked to the tournament. Speaking to Anadolu Agency, Ahmad Donyamali, Iran’s Minister of Sport, confirmed that Tehran is yet to receive official feedback from FIFA. “Our request to relocate Iran’s matches to Mexico is still valid, but we have not received any response. If accepted, Iran’s participation will be certain,” he…
The African Export-Import Bank has approved a $10 billion Gulf Crisis Response Programme (GCRP) to cushion African and Caribbean economies from the economic shocks triggered by escalating conflict in the Middle East. The facility, endorsed by the bank’s board, is designed to protect trade, stabilise financial systems, and support businesses grappling with disruptions linked to the crisis, which intensified on February 28, 2026. The conflict has sent shockwaves across global markets, with African and Caribbean countries particularly exposed due to their reliance on imports such as fuel, fertiliser, and food, as well as critical shipping routes like the Strait of…
Nigeria’s pension assets recorded their strongest monthly growth on record in February 2026, rising by N1.39 trillion to hit N29.43 trillion, according to data from the National Pension Commission. The sharp increase from N28.04 trillion in January surpasses the previous record of N1.18 trillion set in January 2024, signalling a new phase of rapid, market-driven expansion in the pension industry. The growth was driven by a combination of fresh inflows and valuation gains, particularly from equities, which played a central role in boosting overall returns. Domestic equity investments rose significantly to N5.41 trillion, reflecting increased exposure to the Nigerian stock…