Nigeria’s FX Reserves Gain $364 Million In Two Weeks, First Steady Climb Since January Peak

Nigeria’s external reserves have recorded a sustained rebound for the first time in 2025, rising by $364 million between April 30 and May 14, 2025. This marks the first consistent two-week upward trend in the country’s foreign reserves since they peaked on January 6, 2025, at $40.92 billion. According to the latest figures published by…

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Senate Will Enforce Law Proposing 30% Value Addition Before Raw Materials Export – Akpabio 

Senate President Godswill Akpabio says the national assembly will enforce a law mandating a minimum of 30 percent local value addition before any raw material is exported. Akpabio spoke on Wednesday when he received members of the Raw Materials Research and Development Council (RMRDC), led by Nnanyelugo Martin Ike-Muonso, the council’s director-general, at his office…

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FLASH: Police Arrest Three Fake EFCC Operatives, Others

The police command in Niger says it has arrested three suspects, who posed as Economic and Financial Crime Commission (EFCC) operatives, abducted and robbed students of Ibrahim Badamasi Babangida (IBB) University, Lapai. A statement by the Command’s Spokesperson, SP Wasiu Abiodun, on Friday in Minna, indicated that two informants who aided and abetted the operation…

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FLASH: Bill To Mandate Use Of Made In Nigeria Vehicles By FG Agencies Passed Second Reading 

The Nigerian Senate has passed for second reading a legislation aimed at boosting the country’s automotive sector by mandating Ministries, Departments, and Agencies (MDAs) to prioritise locally manufactured vehicles in their procurement processes. Titled the “Local Automotive Industry Patronage Bill 2025,” the proposal is sponsored by Senator Ndubueze Patrick Chiwuba (Imo North) and seeks to…

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Embattled Monarch, Joseph Oloyede, Forfeits Cash, Property To U.S. Govt Ahead Of Sentencing

Embattled Nigerian monarch, Oba Joseph Oloyede, has been ordered to forfeit millions of dollars in cash and high-value property to the United States government following his conviction on several fraud-related charges in $4.2 million COVID-19 relief scam, according to legal filings sighted by Peoples Gazette. The latest blow to Mr Oloyede, who was the Apetu…

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