Former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has denied allegations that ₦210 trillion went missing or remained unaccounted for during his tenure, insisting that the disputed figures resulted from a misinterpretation of the company’s financial statements. Kyari made the clarification while appearing before the Senate Committee on…
President Bola Tinubu has defended his administration’s decision to scrap Nigeria’s fuel subsidy, insisting that retaining the policy would have rendered the naira worthless. He maintained that there would be no return to fuel subsidy under his government. The president made the remarks on Friday, November 6, 2026, during a state reception held in his…
Hackers have reportedly stolen approximately $6.3 billion from Binance, the world’s largest cryptocurrency exchange, in what could be the largest cryptocurrency heist ever recorded. In a statement addressing the breach, Binance described the incident as a sophisticated attack and said it was working closely with law enforcement agencies to investigate and recover the stolen funds.…
Real Madrid forward Kylian Mbappé has apologised after several major Chinese brands terminated their partnerships with him following a viral video in which he appeared to joke about former Chinese leader Mao Zedong. The controversy has also drawn a response from La Liga and sparked widespread debate on Chinese social media. State-run digital newspaper…
Commercial motorcycle operators, popularly known as okada riders, have staged a protest in Nsukka, Enugu State, over an alleged ₦400 daily e-ticket levy. The riders expressed dissatisfaction with the charge, describing it as an additional financial burden on their daily earnings. “This extortion is too much. Which one is e-ticket of ₦400 daily?” one of…
Microsoft has withdrawn from an agreement to lease computing capacity at a planned Nscale data centre in Loughton, northeast of London, reportedly due to delays in securing electricity for the site. The technology giant confirmed the decision on Monday, October 19, but stressed that its broader partnership with the British AI infrastructure provider remained unchanged.…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned that a return to fuel subsidies could trigger capital flight, erode investor confidence and send the naira tumbling to between N3,000 and N4,000 against the US dollar. Oyedele gave the warning on Monday, October 19, while speaking at the International Monetary…
Nigeria’s headline inflation rate declined to 14.63 per cent in September 2026, down from 15.39 per cent in August, following a moderation in average food prices, according to the National Bureau of Statistics (NBS). The bureau disclosed this in its latest Consumer Price Index report released on Thursday, which also showed that annual inflation fell…
Minister of Power Joseph Tegbe has said the Federal Government can no longer afford to cover electricity tariff shortfalls while striving to provide power across the country. Tegbe made this known at an energy conference organised by the Harvard Business School Association of Nigeria, where industry experts and regulators discussed challenges facing the power…
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the retail price of petrol at some of its filling stations in Abuja. A market survey conducted on Sunday, September 27, found that NNPCL outlets in Gwarimpa, Kubwa and other parts of the Federal Capital Territory had adjusted their pump price from ₦1,430 to ₦1,405 per…
