Author: Atoyebi Adenike

By Atoyebi Nike The Federal High Court in Abuja has adjourned the trial of the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, to October 16 to allow the Nigerian Medical Association (NMA) present its medical examination report. Justice James Omotosho postponed the hearing after the NMA informed the court it had not completed its assessment of Kanu’s health status. The court had earlier directed the NMA to form a committee of medical experts to conduct an independent examination and determine whether Kanu should remain in Department of State Services (DSS) custody or be moved to the…

By Atoyebi Nike Nigeria’s Federal Government has reiterated its resolve to combat climate change and environmental degradation, with the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project recording significant progress in restoring degraded lands and improving livelihoods. This commitment was restated during the Federal Technical Committee (FTC) meeting of the ACReSAL Project held at the Ministry of Environment in Abuja. The meeting brought together permanent secretaries of the Ministries of Environment, Agriculture and Food Security, and Water Resources and Sanitation, alongside key stakeholders to review the project’s performance and annual work plan. Permanent Secretary of the Ministry of Environment, Mahmud Adam…

By Atoyebi Nike The World Bank has warned that Nigeria risks losing the gains from its recent economic reforms if they fail to translate into improved living standards, revealing that 139 million citizens now live in poverty. World Bank Country Director for Nigeria, Mathew Verghis, issued the warning on Wednesday in Abuja during the launch of the October 2025 Nigeria Development Update (NDU), themed “From Policy to People: Bringing the Reform Gains Home.” Verghis praised Nigeria’s bold reforms on foreign exchange and fuel subsidy removal, calling them “foundational” steps similar to major economic shifts in India in the 1990s. He…

By Atoyebi Nike The Nigerian Naira has appreciated against the Euro, settling at ₦1,715/€ at the official market from ₦1,729/€ at the end of September. The parallel market mirrored this bullish trend. The Euro’s weakness follows deepening political turmoil in France. Budget disputes, mass protests, and the abrupt resignation of Prime Minister Sébastien Lecornu on October 6 triggered market anxiety, causing French borrowing costs to spike and the CAC 40 to fall by over 1.3%. France’s political crisis, rooted in the 2024 snap elections, has led to a divided parliament and persistent fiscal uncertainty. Over 195,000 people joined nationwide strikes…

By Atoyebi Nike Point-of-Sale (PoS) operators in Nigeria will soon be required to work exclusively with one principal under new agent banking rules released by the Central Bank of Nigeria (CBN) on October 6, 2025. From April 1, 2026, operators using Moniepoint, OPay, PalmPay, or similar platforms must align with one bank, fintech, microfinance bank, or licenced super agent. This is part of the CBN’s regulatory overhaul of the agent banking sector, the most comprehensive since its inception in 2013. The guidelines aim to raise operational standards, improve service quality, and enhance financial inclusion. Principals must publish updated agent lists…

By Atoyebi Nike Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, says the Federal Government is determined to ensure every barrel of crude oil adds value at home and abroad. Speaking at the 2025 Crude Oil Refinery-Owners Association of Nigeria (CORAN) Summit in Lagos, Lokpobiri represented by his technical adviser, Ndah Adaba said local refining and energy security are key to Nigeria’s development. The summit, themed “Refinery  Key to Energy Security in Africa,” gathered engineers, policymakers, and energy experts from across the continent. He explained that the “Naira for Crude” policy helps reduce fuel production costs, stabilise exchange rates,…

By Atoyebi Nike The Senate Committee on Public Accounts has confirmed that the Nigerian National Petroleum Company Limited (NNPCL) has formally responded to 19 audit queries involving discrepancies amounting to ₦210 trillion in its financial records covering 2017 to 2023. Chairman of the Committee, Senator Aliyu Wadada, disclosed this in Abuja during an interview with journalists, noting that while the company’s response has been received, the committee has yet to examine the submitted documents in detail. Wadada explained that the NNPCL had earlier sought an extension after being directed on July 29 to provide responses within three weeks. The company’s…

By Atoyebi Nike Gold prices soared past $4,000 on Wednesday for the first time ever, as investors rushed to the safe-haven asset amid expectations of US interest rate cuts and growing anxiety over a US government shutdown. The precious metal climbed to a record $4,039.86, marking a more than 50 percent rise since the start of 2025, driven by economic uncertainty, Donald Trump’s trade war, and geopolitical crises. The rally comes as concerns mount that a technology-fuelled stock surge may have created an asset bubble, leading some investors to shift toward safer assets. Political turmoil in France further intensified demand…

By Atoyebi Nike The Independent National Electoral Commission (INEC) has extended the ongoing Continuous Voter Registration (CVR) exercise at ward level in the Federal Capital Territory (FCT) by four days. This decision was reached at the Commission’s Third Quarterly Meeting with Resident Electoral Commissioners held on Tuesday, where ongoing electoral activities were reviewed. In a statement issued on Wednesday by the Director of Voter Education and Publicity, Victoria Eta-Messi, INEC announced that the registration exercise, initially scheduled to end on Wednesday, October 8, 2025, will now run until Sunday, October 12, 2025. The exercise began on September 5. “As of…

By Atoyebi Nike Nigeria is set to intensify sustainable food production and regional trade integration through the implementation of the Kampala Declaration (2026-2036) on agriculture and food security. Minister of Agriculture and Food Security, Senator Abubakar Kyari, announced this at the Community of Practice Summit on the Comprehensive Africa Agriculture Development Programme (CAADP) held in Abuja. Themed “From Kampala to Abuja: Transforming Agrifood Systems in Nigeria”, the summit outlined bold reforms to build resilient, inclusive, and sustainable food systems. Kyari explained that the initiative will increase investment portfolios, promote research and innovation, enhance governance, and drive inter- and intra-African agricultural…