FESTAC Power Outage: EKEDP blames cable vandalism, transmission upgrades

FESTAC Power Outage: EKEDP blames cable vandalism, transmission upgrades

By Uzoma Marvellous The prolonged power outage affecting FESTAC Town, Amuwo Odofin and neighbouring communities is the result of ongoing transmission upgrades and persistent vandalism of underground electricity cables, Eko Electricity Distribution Plc (EKEDP) has said. In a statement yesterday, the General Manager, Corporate Communications, EKEDP, Abiola Aloba, said the supply disruption was caused mainly […]
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Nigeria’s export under threat over US 12.5% tariff, SEREC warns

Nigeria’s export under threat over US 12.5% tariff, SEREC warns

By Providence Ayanfeoluwa The Sea Empowerment & Research Center, SEREC, has warned that the United States’ decision to impose a 12.5 per cent tariff on Nigerian exports could undermine the country’s non-oil export drive, weaken foreign exchange earnings and further expose the fragility of the nation’s economy if urgent countermeasures are not adopted. In a policy […]

Globus Bank Receives Inaugural Fitch Ratings

Globus Bank Receives Inaugural Fitch Ratings

LAGOS, NIGERIA — Globus Bank Limited, a national commercial bank in Nigeria, has been assigned its inaugural credit ratings by Fitch Ratings, one of the world’s foremost global credit rating agencies. The Bank has been assigned a Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Stable Outlook, a Viability Rating (VR) of ‘b-‘, and […]

FG’s crude export earnings dip 14% to $31.54bn in 2025 — CBN

FG’s crude export earnings dip 14% to $31.54bn in 2025 — CBN

By Ediri Ejoh The Federal Government’s (FG) crude oil export earnings fell 14.41 percent to $31.54 billion in 2025 from $36.85 billion recorded in the corresponding period of 2024. The drop was attributed to lower international crude oil prices arising from a global supply glut in the review period. The Central Bank of Nigeria, CBN, made […]

Dollar to Naira exchange rate today, July 30, 2026

Dollar to Naira exchange rate today, July 30, 2026

The United States Dollar traded against the Nigerian Naira at an official rate of approximately 1,358.63 Naira per dollar in the Nigerian Foreign Exchange Market on Thursday, July 30, 2026.

Bank customers’ complaints rise 11% as CBN orders N19bn refunds

Bank customers’ complaints rise 11% as CBN orders N19bn refunds

•Slams N1.69bn penalties on banks’ breaches By Babajide Komolafe Bank customers lodged 23,129 complaints against financial institutions in 2025, representing 11 per cent increase over the previous year, prompting the Central Bank of Nigeria, CBN, to order refunds totaling N19.12 billion and $329.3 million to affected consumers. The apex bank also imposed N1.69 billion in penalties […]

IGP reaffirms commitment to preventive policing

IGP reaffirms commitment to preventive policing

By Vincent Ujumadu The national coordinator of the Inspector-General of Police’s Campaign Against Cultism and Other Vices (POCACOV), SP Orvenonne Ikwen has reaffirmed the IGP’s commitment to preventive policing across the country. Speaking at the stakeholders interactive session in Awka as part of activities to create awareness about the body, Ikwem said it is a […]