Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN) has announced that the country’s foreign reserves have received an additional $600 million. The development is expected to contribute to the appreciation of the Naira against the Dollar in the official market. However, Cardoso clarified that the reserve shifts are not related to defending the Naira in the foreign exchange (FX) market. During the International Monetary Fund’s spring meetings in Washington, DC, Cardoso stated that CBN’s focus was on achieving independence for the foreign exchange market, allowing market forces to ..read more

Oil marketers recently visited the Port Harcourt Refinery Company in Rivers State to confirm that the facility will soon begin releasing refined petroleum products. The Independent Petroleum Marketers Association of Nigeria (IPMAN) members disclosed that the rehabilitation of the facility has been largely completed. They added that the plant is expected to be ready by April, as previously speculated by Mele Kyari, the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL). On March 15, 2024, Kyari had stated that the refinery would commence operations in two weeks. However, an NN ..read more

A former Benue State Governor, Samuel Ortom faced opposition from Dino Melaye at the Peoples Democratic Party (PDP) meeting in Abuja on Wednesday. It was said that the opposition occurred due to a battle for control of the PDP between former Vice President Atiku Abubakar and FCT Minister Nyesom Wike. During a crucial meeting, Melaye, an Atiku ally and PDP candidate for the 2023 Kogi State gubernatorial engaged in a heated argument with Ortom, a key Wike ally. Reports suggested that the altercation occurred during a meeting involving stakeholders from the opposition party’s north-central geopol ..read more

The World Bank Group and the African Development Bank Group are partnering to provide no fewer than 300 million Africans with electricity access by 2030. This is contained in a statement issued by the World Bank Online Media Centre on Thursday. The statement said that the WBG would work to connect 250m people to electricity through distributed renewable energy systems or the distribution grid. It said the AfDB Group on its part would support an additional 50m people. “Access to electricity is a fundamental human right and is foundational to any successful development effort. “Currently, 600 mi ..read more

Troops from the Nigerian Army, deployed in the North-East, have reported the successful rescue of Lydia Simon, a Chibok girl who had been held captive by Boko Haram terrorists for several years. The Department of Army Public Relations issued a statement confirming that Simon, who was identified as serial number 68 among the abducted Chibok Secondary School girls, was freed along with her three children during Operation Desert Sanity III. It was said that the operation took place near Ngoshe in the Gwoza Local Government Area of Borno State. Simon, who is currently five months pregnant, hails f ..read more

Renowned Nigerian dancer Korra Obidi, based abroad, has refuted accusations made by her estranged husband regarding infidelity during her pregnancy. In a video posted on his Instagram, Justin Dean claimed that Obidi had been unfaithful while she was five months pregnant. Obidi responded to these allegations, dismissing them as attempts by her ex-husband to gain attention using her name. She emphasized that his actions stemmed from her recent trending status following an attack she endured last week. In a video message shared on her Instagram account, Obidi addressed the situation. “Bloggers a ..read more

Arsenal manager Mikel Arteta has assured fans that the team will shift their focus entirely to the Premier League title race following their Champions League exit on Wednesday night. The Gunners suffered a 1-0 defeat to Bayern Munich in Germany, resulting in a 3-2 aggregate loss. With their hopes of European success dashed, Arteta’s side now aims to pursue silverware in the Premier League, where they currently trail Manchester City by two points. Arsenal faces an away fixture against Wolves on Saturday, seeking to bounce back from a disappointing 2-0 home defeat to Aston Villa last weekend ..read more

Real Madrid manager Carlo Ancelotti expressed confidence in their ability to win against Manchester City in a penalty shootout. After a 3-3 draw in the first leg of the Champions League quarter-final in Spain, both teams played to a 1-1 stalemate at the Etihad Stadium. With no goals scored in extra time, the match was decided by a shootout, during which Bernardo Silva and Mateo Kovacic missed their penalties. Ancelotti told Movistar: “We started well, went ahead and then we had to fight to survive, we had to suffer. City had control because we defended too deep. “By the time the penalty shoot ..read more

Thomas Tuchel, manager of Bayern Munich, has commended Arsenal’s footballing style while acknowledging their lack of experience in their Champions League encounter. Bayern secured their spot in the semi-finals with a 1-0 victory over Arsenal at the Allianz Arena, courtesy of Joshua Kimmich’s decisive header. Tuchel admits that Arsenal posed a significant challenge, with Bayern narrowly advancing with a 3-2 aggregate win. Next up, Bayern will face Real Madrid in a bid to secure a place in the final. “For me, they are there. They are there. “If you watch Arsenal in the last two seasons, it’s so ..read more

Arsenal hopes for a Club World Cup appearance were dashed on Wednesday following their Champions League exit. A 1-0 defeat to Bayern Munich at the Allianz Arena sealed their fate with a 3-2 aggregate loss. RB Salzburg clinches the remaining spot in the expanded Club World Cup lineup. Originally reserved for this year’s Champions League victors, the slot has been redistributed due to all semi-finalists already securing Club World Cup berths. Consequently, it’s awarded to the best-performing team in the competition over the past four years not already qualified, landing Salzburg the coveted spot ..read more