Author: Opalim Lifted

The federal government says it will not intervene to regulate petrol prices despite rising volatility in global oil markets triggered by escalating tensions in the Middle East. Speaking on Wednesday during an interview with Channels TV, Wale Edun, Nigeria’s minister of finance, said the government would instead introduce alternative measures to cushion the economic impact of the conflict involving the United States, Israel, and Iran. Edun said the administration of Bola Tinubu is focused on supporting market-driven pricing while deploying relief initiatives to ease the cost of living for Nigerians. According to him, the president has already approved the distribution…

The trial of former Minister of Power, Saleh Mamman, continued on Wednesday as a prosecution witness presented fresh banking documents before the court. The First Prosecution Witness, Umar Abba, a compliance officer with Zenith Bank, tendered the documents before Justice Maryann Anineh of the Federal Capital Territory High Court sitting in Maitama, Abuja. Mamman and seven others are standing trial over an alleged fraud involving N31.07 billion. The co-defendants are Mustapha Abubakar Bida, Joseph Omotayo Adewunmi, Ben Nsikak, Stephen Ojo, Oladipo Adebowale, Michael Achua and Ogunjobi Olusila. They are facing a nine-count charge bordering on conspiracy, obtaining by false pretence…

President Bola Tinubu has approved the nomination of Lamido Yuguda as a deputy governor of the Central Bank of Nigeria (CBN). The nomination is subject to confirmation by the Senate, according to a statement issued on Wednesday by Bayo Onanuga, Special Adviser to the President on Information and Strategy. The president said the nomination aligns with Section 8(1) of the Central Bank of Nigeria Act 2007. “Yuguda’s nomination follows the recent appointment of the erstwhile deputy governor, Bala Bello, as Special Adviser to the President on Political Economy,” the statement reads. “The president charges them to discharge their responsibilities with…

Human rights activist and former presidential candidate, Omoyele Sowore, has led a protest demanding the release of the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. The protest took place around the busy Ariaria International Market, one of the largest commercial hubs in southeastern Nigeria. The protesters moved through sections of the market carrying banners and chanting solidarity slogans as they called for the freedom of the IPOB leader. One of the most visible banners seen among the crowd bore the inscription: “Coalition of Lovers of Freedom: Free Our Leader, Mazi Nnamdi Kanu,” as demonstrators continued marching toward…

The Ministry of Finance says the Federal Government is closely monitoring escalating geopolitical tensions in the Middle East involving the United States (US), Israel, and Iran, and remains committed to safeguarding Nigeria’s economic stability. According to a statement on Wednesday by Uloma Amadi, an assistant director of information and public relations at the ministry, the government is tracking oil prices, exchange rates, capital flows, and their potential impact on Nigeria’s economy and external reserves. The ministry said the Economic Management Team (EMT), chaired by Wale Edun, the Minister of Finance, convened a meeting to assess the potential impact of the…

Iran has warned it will not allow “a single litre of oil” to pass through the Strait of Hormuz for the benefit of the United States, Israel and their allies, raising fears of a sharp spike in global energy prices. Spokesperson for Tehran’s Khatam al-Anbiya military command headquarters, Ebrahim Zolfaqari, said the escalating conflict in the Middle East could push crude oil prices as high as $200 per barrel. His comments come amid rising tensions following threats from Donald Trump, the US president, who warned Iran would face “death, fire and fury” if it disrupted shipping through the Strait of…

Another stellar display on their artificial home turf at the Aspmyra Stadium earned Norway’s Bodø/Glimt a 3–0 win over Sporting Lisbon in the first leg of their UEFA Champions League round-of-16 tie on Wednesday. The Portuguese side joined the long list of big-name European clubs that have travelled to the small fishing town inside the Arctic Circle and left empty-handed, as Bodø/Glimt cruised to an emphatic victory that puts them firmly in the driving seat for a place in the quarter-finals. Luis Suárez blazed an early chance over the bar for the visitors, but after that their hosts took control.…

Iran has announced it will not participate in the 2026 FIFA World Cup, citing the ongoing conflict with the United States. The decision was confirmed by Ahmad Donyamali, Iran’s sports minister, during an appearance on state television on Wednesday. Citing safety concerns following the death of Ali Khamenei, the country’s supreme leader, Donyamali stated, “Considering that this corrupt regime has assassinated our leader, under no circumstances can we participate in the World Cup.” The 48-team tournament is scheduled to be held across the United States, Mexico and Canada from June 11 to July 19. Iran had been drawn in Group…

The Economic and Financial Crimes Commission (EFCC) has arraigned Ufoma Immanuel over an alleged $1.5 million investment fraud before Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos. Immanuel was arraigned on Wednesday alongside his firm, Intermediate Investment Holdings Limited, on a two-count charge of obtaining by false pretence and forgery. According to the prosecution, the defendant allegedly induced Adebisi Adebutu of R28 Holdings Limited to invest $1.5 million between April 2022 and October 2023. The EFCC told the court that the investment was presented as funding for projects linked to Chappal Petroleum Development Company Limited, business development…

Several members of the Iran women’s national football team have refused to return home after competing in the AFC Women’s Asian Cup in Australia, fearing possible execution following death threats linked to a political protest. Reports say some players declined to board a flight back to Iran after refusing to sing the national anthem during their opening match of the tournament. The protest reportedly came just two days after strikes on Iran by the United States and Israel, placing the players under intense scrutiny from Iranian authorities. Players seek asylum in Australia According to reports, five players — including the…