The Central Bank of Nigeria (CBN) is introducing a new approach to resolving loan disputes. It has proposed that creditors and borrowers must first go through a mediation panel before taking their cases to court. This initiative stems from a circular issued by the CBN on Tuesday, inviting stakeholders to review and comment on draft…
The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has revealed that Nigeria would have spent approximately N52 trillion on fuel subsidies by 2026. This amount represents 76% of the proposed N68 trillion budget for that year. However, the removal of the subsidy has averted this financial strain. Adedeji shared this insight on…
Nigeria has been handed a 20-year Civil Aviation Master Plan (CAMP) by the International Civil Aviation Organization (ICAO). Covering the period from 2025 to 2045, the plan aims to guide the transformation of the country’s aviation sector. The document was officially presented in Marrakech during the ICAO Global Implementation Support Symposium. This was disclosed in…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on the International Monetary Fund (IMF) and the World Bank to reduce borrowing costs for developing countries. He emphasized that rising debt pressures and limited access to affordable financing are straining these economies. Wale Edun made this appeal on Tuesday, April…
Amazon has announced plans to acquire satellite telecom firm Globalstar in a deal valued at about $11.6 billion, as it accelerates efforts to expand its space-based internet network. The acquisition is part of Amazon’s broader strategy to compete directly with SpaceX’s Starlink. Which currently dominates the satellite internet market. Under the agreement, Globalstar shareholders will…
A Taiwanese consortium is planning to build a multi-billion-dollar solar power plant in Nigeria, signaling growing international interest in the country’s energy sector. The proposal is being driven by the Taiwan-Africa Business Association (TABA), which says Nigeria is its top priority in Africa due to its large population and economic potential. According to the group’s…
The United States has announced a sweeping maritime blockade targeting all Iranian ports and coastal areas. Marking a major escalation in tensions following the collapse of high-level negotiations with Iran. The blockade, which took effect on April 13, 2026, is being enforced by U.S. military forces across the Arabian Gulf and Gulf of Oman. It…
The Nigerian currency, the Naira, opened the week on a relatively stable note against the U.S. Dollar in the official market, offering a brief sense of calm for traders and businesses. At the Nigerian Foreign Exchange Market (NFEM), the Naira exchange rate traded around ₦1,358.84 per dollar on Monday, April 13, 2026. Although early trading…
The U.S. Department of State has advised visa applicants to rely strictly on official government platforms for accurate and up-to-date information on U.S. travel requirements. In a recent advisory shared by the U.S. Mission, applicants directed to use the official portal, (travel.state.gov, ng.usembassy.gov), for all visa-related guidance. The agency emphasized that visa rules, categories, and…
Several African countries are losing billions of dollars in revenue after slashing fuel taxes in a bid to cushion the impact of rising global oil prices. Governments across the continent have reduced or suspended fuel taxes to ease the burden on citizens facing higher transportation and living costs. The move comes amid continued volatility in…
