Oil prices dip amid uncertainty over US-Iran peace talks
Oil prices edged lower on Tuesday as investors remained cautious over the outcome of ongoing negotiations between the United States and Iran, despite indications that diplomatic efforts between the two countries are continuing. Brent crude futures fell by 53 cents, or 0.56 per cent, to $94.45 per barrel, while U.S. West Texas Intermediate (WTI) crude declined by 56 cents, or...
FG abolishes ‘three-month pre-retirement leave’ for civil servants
The Federal Government has directed all Ministries, Departments and Agencies (MDAs) to discontinue the long-standing practice of placing civil servants on a compulsory three-month leave before retirement, stating that such a provision does not exist in the Public Service Rules (PSR). The directive was issued in a circular by the Head of the Civil Service of the Federation, Didi Walson-Jack,...
2027 elections loom as CBN targets N2.83trn cash outside banking system
As Nigeria approaches the 2027 general elections, the Central Bank of Nigeria has unveiled an ambitious plan to draw an estimated N2.83tn currently held outside the banking system into formal financial channels, a move that could significantly influence both the economy and the country’s cash-driven political landscape. The initiative, announced in Abuja by CBN Governor Olayemi Cardoso, forms part of...
Nigeria’s AUM rises from N3.2trn to N10trn in two years ― SEC
The Securities and Exchange Commission (SEC) has disclosed that Nigeria’s Assets Under Management (AUM) increased from N3.2 trillion to N10 trillion within the last two years. The Director-General of SEC, Dr Emomotimi Agama, disclosed this during an event marking Nigeria’s transition to the T+1 settlement cycle in Lagos on Monday, June 1, 2026. Agama said the growth reflected rising investor confidence...
Imo varsity shuts down after Man O’ War officers beat student to death over N13,000
The Federal University of Technology, Owerri (FUTO) in Imo State, has directed its students to proceed on a two-week vacation to enable the management to undertake the fumigation and renovation of hostels. The FUTO Registrar, Chiedozie Uba, issued the directive in a circular dated May 31, a copy of which was available to newsmen on Monday, June 1, 2026. Uba directed...
Protests spread across Oyo, Ogun over abducted pupils, teachers
Protests erupted across parts of Oyo and Ogun states on Monday as teachers, residents, labour activists and civil society groups demanded the immediate release of pupils and teachers abducted from schools in Oriire Local Government Area of Oyo State. The demonstrations followed the decision of the Nigeria Union of Teachers to begin nationwide solidarity rallies over the continued captivity of...
NGX investors lose N1.81trn as market capitalisation drops to N158trn
Investors lost N1.811 trillion on Monday as widespread profit-taking in major equities dragged the stock market into negative territory on the first trading day of June. The decline came as the market began trading under the newly introduced T+1 settlement cycle. The cycle marks a significant milestone in the ongoing efforts to enhance efficiency and competitiveness in the capital market. Heavy profit-taking...
Police arrest 15 as mob kills motorcyclist over fake bandit attack in Lagos
The Lagos State Police Command has arrested no fewer than 15 persons following reports alleging that bandits invaded communities in Ibeju-Lekki, Imota, Oke-Afo, and other parts of the state. Police said the viral posts were unfounded and intended to create fear, panic, and anxiety among residents. The Lagos State Police Public Relations Officer, SP Abimbola Adebisi, in a statement issued on...
Supreme Court dismisses suit against Providus, Unity Banks’ merger
The Supreme Court on Monday dismissed an appeal seeking the dissolution of the merger between Providus Bank Limited and Unity Bank Plc. A five-member panel of the Supreme Court, in a unanimous judgement delivered by Justice Tijani Abubakar, dismissed the appeal seeking to upturn the judgement of the Court of Appeal, for lacking in merit. The appellants, Suleiman Abubakar and Mohammed...
Atiku fires back at Babachir Lawal over ADC exit remarks
Former Vice President Atiku Abubakar has dismissed allegations made by ex-Secretary to the Government of the Federation, Babachir Lawal, against his emergence as the African Democratic Congress (ADC) presidential candidate. Lawal had, in a statement announcing his resignation from the ADC on Monday, alleged that the party’s primary election results were manipulated in favour of Atiku and his loyalists. Reacting via a...
