Author: Akintayo Adams

The Central Bank of Nigeria (CBN) has set new guidelines for selling foreign exchange (FX) to Bureaux De Change (BDC) operators. According to a statement from the Trade and Exchange Department of the CBN, this move follows the bank’s earlier approval allowing existing BDCs temporary access to the Nigerian Foreign Exchange Market (NFEM) for purchasing FX from authorized dealers. Authorized dealers can sell foreign exchange cash to BDCs, with a cap of USD 25,000.00 per week per BDC. The CBN has cautioned that any violations of this limit will result in appropriate penalties. The exchange rate at which authorized dealers…

The Poultry Association of Nigeria, PAN, Lagos State chapter, has targeted a drop in the price of eggs with the continuation of the government farmers’ feed subsidy. According to NAN, the Chairman of the Poultry Association of Nigeria, Lagos State chapter, Mojeed Iyiola, disclosed in an interview. This comes as the Lagos State Government, through its N500 million Ounje Eko Farmers Subsidy Programme, Ounje Eko FSP, empowers farmers with a 25 percent subsidy on animal feeds, poultry, and fish. In reaction, Iyiola expressed optimism that the initiative, if sustained beyond the stipulated test run of four weeks, would make the…

Former Real Madrid defender Pepe has revealed that Cristiano Ronaldo selflessly offered him a part of his salary to stay at the Santiago Bernabeu during their time together at the Los Blancos. Despite Ronaldo’s best attempts, Pepe left Madrid in 2017 for non-financial reasons, joining Turkish club Besiktas. Pepe and Ronaldo have shared a special bond both on and off the field. The pair have played together for both club and country before Pepe retired from the sport following Euro 2024 in Germany. Both Portuguese shared the pitch during their days at Sporting CP’s academy before reuniting at Real Madrid…

The 2025 edition of the popular Football Manager series, FM25, has been canceled by developers Sports Interactive. The game, which was initially set to be released in early November 2024, faced multiple delays and was last scheduled for a March 2025 release. However, due to various challenges and the need to ensure the game met their high standards, the decision was made to cancel FM25 and shift focus to the next release, FM26. Sports Interactive apologized to fans and assured that those who pre-ordered FM25 would receive full refunds. The developers emphasized their commitment to delivering a high-quality game and…

The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that Nigeria generated over $831.14 billion in revenue from the oil and gas sector between 1999 and 2023. NEITI’s Executive Secretary, Ogbonnaya Orji, shared this information during a briefing with the Senate Committee on Public Accounts. Orji also mentioned that the country needs $20 billion annually for the next 10 years to develop its gas infrastructure. He, however, noted that crude oil theft over the years has cost the country an estimated 701.48 million barrels since 2009, when NEITI began tracking losses. Speaking about the solid minerals sector, Orji disclosed that…

Former President Muhammadu Buhari recently stated that security and the economy improved significantly during his eight-year tenure. He made these remarks while receiving members of the Katsina State Correspondents’ Chapel of the Nigerian Union of Journalists at his country home in Daura, Katsina State. Buhari emphasized that his administration successfully tackled the challenges of terrorism and economic instability that he inherited in 2015. He also acknowledged the administrative challenges faced during his time in office, noting that only those in positions of power truly understand these obstacles. Buhari expressed confidence that Nigeria will continue to make progress. “Security and economy…

The United States Department of Justice has announced that Edwin Okoronkwo, a Nigerian national, will be deported after completing his 75-month jail term for defrauding Americans. Okoronkwo, along with his wife, Juliet Okoronkwo, used a “catfishing” scheme to defraud victims by posing as high-ranking members of the US military. They obtained money from their victims through postal services. The statement read, “Edwin Okoronkwo, a citizen of Nigeria and a lawful permanent resident of the United States, and his spouse, Julie Okoronkwo, residing in Nebraska, used “catfishing” schemes to obtain money from victims via the Internet. In doing so, they convinced…

The Federal Government has indeed scrapped the Junior Secondary School (JSS) and Senior Secondary School (SSS) model in Nigeria. They have introduced a new 12-year uninterrupted basic education model. The Minister of Education, Dr. Tunji Alausa, announced this change during the 2025 extraordinary National Council on Education (NCE) meeting in Abuja. This means students will now receive continuous education up to the age of 16, after which they can pursue higher education. The new system aims to replace the existing 6-3-3-4 education structure with a 12-4 model, aligning Nigeria’s educational standards with global best practices. This reform is expected to…

Nigeria’s House of Representatives Committee on the Review of the 1999 Constitution has proposed the creation of 31 new states across the country. This was disclosed by Deputy Speaker Benjamin Kalu during a plenary session on Thursday, February 6, 2025. The proposals span all six geopolitical zones: North Central, North East, North West, South East, South South, and South West. The proposed states are as follows: North Central: North East: North West: South East: South South: South West: These proposals are part of the ongoing constitutional review process, and they must meet specific conditions outlined in Section 8 of the…

Former Nigeria defender Taiwo Taiwo has been inducted into Ligue 1 club Olympique Marseille’s Hall of Fame. The former European champions confirmed Taiwo’s induction on their X handle. “Taye Taiwo is in the house tonight as the former Olympien and Super Eagle is inducted into the #OMLegends club,” the club stated. Taiwo joined Marseille from the Nigerian Premier Football League (NPFL) club in January 2005. The 39-year-old made 271 appearances for Les Phocéens, with 25 goals and 23 assists to his name. The left-back helped Marseille win the Ligue 1 title, French League Cup, and French Super Cup during his…