The Bank of England (BoE) has warned that global financial markets could face a sharp correction if investor confidence in artificial intelligence (AI) prospects or the independence of the U.S. Federal Reserve weakens. In its latest Financial Policy Committee (FPC) report, the BoE noted that U.S. stock valuations are nearing levels last seen during the …
Gold prices soared beyond $4,000 per ounce for the first time in history on Wednesday as investors rushed to the safe-haven asset amid global economic and geopolitical tensions, as well as expectations of U.S. interest rate cuts. Spot gold climbed 1.3% to $4,034.59 per ounce by 09:31 GMT, while U.S. gold futures for December delivery …
Professor Mahmood Yakubu, outgoing Chairman of the Independent National Electoral Commission (INEC), has handed over the leadership of the commission to Mrs. May Agbamuche-Mbu, who will serve as Acting Chairman. The handover ceremony took place on Tuesday during a meeting with Resident Electoral Commissioners (RECs) at the INEC headquarters in Abuja. Mrs. Agbamuche-Mbu, the oldest …
Nigeria’s Minister of Power, Adebayo Adelabu, has disclosed that the Federal Government is in discussion with the Export-Import Bank of China to secure a $2 billion loan to fund the development of a new national "super grid," which will stabilize energy supplies and encourage industrial growth across the country. Adelabu made this known at the …
Eko Electricity Distribution Company Plc (Eko DisCo) has registered a subsidiary, Excel Electricity Distribution Company Limited, to taker over the operations of its electricity distribution business in Lagos State. In a statement released on Tuesday, October 7, 2025, the management of Eko DisCo clarified that the creation of the subsidiary was in compliance with regulatory …
Nigeria’s non-interest capital market has grown to a valuation of over ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). Its Director-General, Emomotimi Agama, hinted at this during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled to be held in Lagos on November 4 …
Human Capital Africa (HCA), The Nigerian Economic Summit Group (NESG), The Aliko Dangote Foundation, and the African Philanthropy Forum launched two powerful coalitions aimed at combating the learning crisis across Africa. These coalitions—the African CEOs’ Coalition for Foundational Learning and the Africa Philanthropy Coalition for Foundational Learning—will harness collective influence, resources, and expertise to drive …
Geoffrey Nnaji, the Minister of Innovation, Science, and Technology, has resigned from President Bola Tinubu’s cabinet amid ongoing allegations regarding his academic credentials and claims of certificate forgery. Appointed in August 2023, Nnaji submitted his resignation in a letter to the president on Tuesday, thanking him for the opportunity to serve. In a statement confirming …
The Central Bank of Nigeria (CBN) has unveiled fresh regulatory guidelines for Point-of-Sale (POS) operators and banking agents nationwide, directing them to maintain dedicated accounts or wallets solely for agent banking transactions. The new directive, contained in the Guidelines for the Operations of Agent Banking in Nigeria (October 2025), seeks to strengthen financial oversight, improve …
The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) have declared a one-day nationwide protest for Thursday, October 9, over the Federal Government’s failure to address their long-standing demands. The decision followed a comprehensive review by the unions’ Joint Action Committee (JAC) on October 6, …
