Benue State was thrown into mourning on Sunday following the killing of a final year Geography student of the State University, Makurdi, allegedly by herdsmen. Hundreds of protesting students took to the streets demanding the arrest and prosecution of those behind the killing. The following day, more than twenty people were killed in an attack on Zaki Biam’s yam market. And the day after in Jato-Aka, at least one person was killed as the community intercepted a truck
Nigeria’s inflation rate bucked the trend in February to fall to 17.78 percent, its lowest level in 15 months. This was driven by a slower rise in general price levels, the National Bureau of Statistics said on Tuesday. Inflation had risen to 18.72 percent in January, its 12th monthly rise and its highest level in more than 11 years, as Africa’s biggest economy grapples with an economic recession, a currency crisis and dollar shortages, brought on by low
President Muhammadu Buhari returned to Nigeria this morning from the UK where he had been receiving medical treatment for an undisclosed ailment over the last six weeks. The President left Nigeria on January 19 for what was announced as an annual vacation, to last ten days. The vacation was extended indefinitely when the President sent a letter to the National Assembly asking for more time to attend to medical issues as suggested by his doctors.
The CBN intervened for
The newly confirmed Chief Justice of Nigeria, Walter Onnoghen, has condemned a disregard for court rulings, saying it is an act of impunity that is threatening the independence of the judiciary. Mr. Onnoghen made this point on March 1 at the Senate during his screening for confirmation as the substantive CJN, having been so recommended by the National Judicial Council, NJC, and nominated for the position by Acting President Yemi Osinbajo. Fielding questions from the
In what is sure to have significant security and counter-terrorism implications on three continents, al-Mourabitoun, AQIM (AL Qaeda in the Maghreb), Ansar Dine, Macina Liberation Front have announced that they have all joined together to create a new but unified al-Qaeda Trans-Sahelian franchise.
While some, or all of the groups have been operating in concordance at least since late 2015, this public declaration changes the game in some ways, and is significant in that
Last week saw a rare sell-off in the FX parallel market. After recording all time lows the previous week, the naira strengthened to between ₦440 and ₦460 per US dollar following the release of new foreign exchange policy guidelines by the Central Bank of Nigeria, and subsequent market intervention.
The question at this point is which market reflects the true value of the naira. Is it an under-supplied interbank market into which CBN intervenes to repeatedly to cushion
The naira recorded further gains against the United States dollar on the parallel market on Wednesday, reversing losses it made earlier in the week. Specifically, the naira rose to ₦505/dollar on February 22, up from ₦512/dollar on Tuesday, as the Central Bank of Nigeria started increasing dollar supply on the official market. The regulator had on February 20 introduced a new forex policy action aimed at boost forex supply to enable commercial lenders to meet the
There is a situation in the South-West and North-West regions of Cameroon. These, the only English-speaking regions in the country, account for about 19 percent of the population.
In November 2016, lawyers and teachers took to the streets to protest against perceived marginalisation and the use of French in courts and schools in the English-speaking regions of the country.
The government responded by sending soldiers and military police to suppress the protests. The
Nigeria allegedly lost as much as $100 billion in revenue last year as attacks by militants in the oil-rich Niger Delta cut crude output to a record low. ‘Production fell by 1M to 1.2M barrels a day at the peak of the attacks,’ Emmanuel Kachikwu, minister of state for petroleum, said Tuesday in a video clip on his Facebook page. This resurgence of armed conflict in the delta last year, combined with lower oil prices, blighted the economy and Nigeria suffered its
Acting President Yemi Osinbajo has nominated Walter Onnoghen as the substantive Chief Justice of Nigeria, in a move set to usher in the first southern head of the Supreme Court in three decades. The decision was announced in a tweet from President Buhari’s Twitter account shortly before noon on February 8. It came a day after Osinbajo’s office told online newspaper, Premium Times that Onnoghen’s name could still be forwarded before the February 10 deadline stipulated