Military operations in the South-South region of Nigeria under Operation DELTA SAFE has dismantled over 97 illegal refineries and intercepted oil theft worth over N1 billion. Seized items included over 853,000 litres of crude oil and thousands of litres of illegally refined petroleum products. At least 65 suspects were arrested during the raids. The significant…
In a bold move to address the long-standing chaos and insecurity in Abuja’s public transport system, Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that comprehensive reforms are underway to restructure and regulate the sector. The announcement followed Wike’s inspection of the newly completed Kugbo and Mabushi Bus and Taxi Terminals on…
In one of the largest pharmaceutical crackdowns in Nigeria’s history, the National Agency for Food and Drug Administration and Control (NAFDAC) has cleared banned, expired, and counterfeit drugs worth over ₦1 trillion from open drug markets across Lagos, Aba, and Onitsha. The enforcement operation, which ran from February 9 to March 27, 2025, targeted unregistered…
In a bold move aimed at tightening regulatory oversight and overhauling Nigeria’s fragile electricity infrastructure, the Nigerian Electricity Regulatory Commission (NERC) has taken two major steps: penalizing the Abuja Electricity Distribution Company (AEDC) for customer exploitation and unveiling a new Transmission Infrastructure Fund to bridge gaps in the national grid. NERC imposed a ₦1.69 billion…
The Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi SAN, has dismissed media reports claiming that the federal government has recovered $967.5bn, saying is false. The AGF said the federal government recovered $105 in 2024 alone. “The figure quoted by the writers is false and completely at variance from my remarks…
Korede Abdullah in Lagos As President Bola Ahmed Tinubu marks the second anniversary of his administration’s sweeping and controversial economic reforms—chief among them the abrupt removal of fuel subsidies and the far-reaching devaluation of the naira—many Nigerians, especially civil servants, in Lagos who spoke with our correspondent, are taking stock of a turbulent year. Their…
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Wednesday, May 28, 2025, arraigned one Oluwaseyi Hevleen Johnson before Justice D.I. Dipeolu of the Federal High Court sitting in Lagos. Johnson alongside her company, XY Connects Global Investments Limited, is facing a two-count charge bordering on operating collective investment schemes…
Olayemi Cardoso, Governor of the Central Bank of Nigeria, was named Central Bank Governor of the Year at the 2025 African Banker Awards Gala, held on Wednesday, May 28, 2025, in Abidjan, Côte d’Ivoire. The award, presented by African Banker magazine, recognizes Cardoso’s “bold and strategic” leadership in steering monetary and regulatory reforms that have…
Korede Abdullah in Lagos The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to enact the Nigeria First Policy into law to bolster the country’s manufacturing sector. Speaking at the 2025 BusinessDay Manufacturing Conference in Lagos on Thursday, MAN Director-General, Segun Ajayi-Kadir, emphasized the urgency of gazetting the policy to ensure it is…
Hussaini Kafi in Kano As President Bola Ahmed Tinubu’s administration marks two years in office, residents of Kano State have expressed growing concerns over worsening economic conditions, rising insecurity across the North, and the controversial relocation of key federal agencies from Abuja to Lagos. A cross section of the Kano residents interviewed by the Africa…
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