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Inflation Rate Drops To 15.91% In June

BY CHIKA OKEKE, Abuja Nigeria’s headline inflation rate dropped to 15.91 per cent in June 2026, down from 15.93 per cent recorded in May of 2026. The decline marked the first drop in the country’s headline inflation rate in three months, just as the Central Bank of Nigeria, CBN, prepares to decide on the interest rate next week. The National Bureau of Statistics, NBS, in its Consumer Price Index, CPI, report released on Wednesday, revealed that the June 2026 inflation rate decreased by 0.02 percentage points, compared to the rate recorded in May. The agency stated that on a month-on-month basis, the headline inflation rate stood at 1.66% in June 2026, approximately 0.09 percentage points lower than the 1.75% recorded in the previous month of May. “The June 2026 headline inflation rate showed a decrease of 0.02% compared to the May 2026 headline inflation rate,” the bureau said. “This means that in June 2026, the rate of increase in the average price level was lower than the...
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Customs Parleys Police On Public Engagement,Vows To Protect Industries

BY CHIKA OKEKE, Abuja R-L: National Public Relations Officer of the Nigeria Customs Service, NCS, DC Abdullahi Maiwada presenting copies of Customs e-Newsletter to Force Public Relations Officer, Chief Superintendent of Police, CSP, Anietie Okokon during his visit to the Service Headquarters in Abuja. The Nigeria Customs Service, NCS, has joined forces with the Nigeria Police Force, NPF, to solidify inter-agency collaboration in public engagement, information sharing and strategic communication. This followed a courtesy visit by the Force Public Relations Officer, Chief Superintendent of Police, CSP, Anietie Okokon, to the National Public Relations Officer of the NCS, Deputy Comptroller, DC, of Customs, Abdullahi Maiwada at the Service Headquarters in Abuja. The visit, which formed part of the Force PRO's familiarisation tour since his assumption of office, provided an opportunity for both institutions to deepen their longstanding relationship and explore avenues for en...

Deloitte Pledges To Support Nigeria's Economic Reforms

BY CHIKA OKEKE, Abuja The Chief Executive Officer of Deloitte West Africa, Yomi Olugbenro has pledged to support Nigeria’s ongoing economic reforms and deliver the dividends of democracy to ordinary Nigerians on the street. He stated this when he led the management team of Deloitte Africa to the State House Abuja, to explore possible ways of partnership to strengthen the economy. Olugbenro: “We do what we do because of the philosophy that our Africa CEOs talk about – making an impact that matters. Where we are at the moment, we believe that the ground has been solidly laid. There is a need to truly extract more value and deliver the dividends of democracy to ordinary Nigerians on the street. The bigger work is really about how to cascade some of those big reforms further down. “We do believe that with the capabilities that the firm has all over the world, we have used cases, examples, experiences of how we supported nations all around the world, so Nigeria will definitely b...

Afreximbank Proposes $150m For Sierra Leone's Aquaculture Devt

BY CHIKA OKEKE, Abuja    L-R: Chief Executive Officer of IBDL, Dr. Khaled Khallaf and Managing Director of Human Resources, Afreximbank, Mr. Stephen Kauma displaying the Missouri State University, MSU, partnership card at the Afreximbank’s headquarters in Cairo, Egypt.  The Afreximbank has proposed US$150 million funding to support the development of the first large-scale commercial aquaculture platform in Sierra Leone. This was revealed at a high-level meeting between Afreximbank officials and Sierra Leone's Ministry of Fisheries and Marine Resources The intervention is part of a broader strategy to transform the country's agricultural and economic sectors, just as the investment is expected to fund the entire fish-farming supply chain while creating jobs and boosting food security. It aims to strengthen the entire aquaculture value chain - from hatcheries and feed production to processing, cold chain infrastructure, and skills development - supporting f...

FG Pushes For Stronger Regulations On Engineering Projects

BY CHIKA OKEKE, Abuja The Federal Government is pushing for stronger regulations of engineering projects across the country, adding that regulations are not intended to punish professionals but to protect public interest, as no road, bridge, or building is more valuable than human life. Minister of Works, Engr. David Umahi stated this at the ongoing 34th COREN Engineering Assembly, with the theme, "Advancing Public Safety in Nigeria through Strategic Engineering Regulatory Enforcement and a Tiered Sanctioning Regime.” Describing the Assembly as timely and relevant to the nation’s developmental aspirations, he reaffirmed the Federal Government's unwavering commitment to promoting quality infrastructure, and safeguarding public safety across Nigeria. He noted that engineering remains the backbone of national development and that effective regulatory enforcement is essential for protecting lives, ensuring quality infrastructure, and restoring public confidence in the...

Customs Commits To Improving Security, Trade Along Border Corridor

BY CHIKA OKEKE The Nigeria Customs Service, NCS, has assured of its commitment to continuously implement measures that improve both security and trade along the border corridor, as the recent operation involving Nigerian and Beninese security agencies reinforced efforts to combat cross-border crime. Acting Customs Area Controller of Ogun I Area Command, Deputy Comptroller Oladapo Afeni stated this during a working visit by the Commissioner of Police, CP, Ogun State Command, Bode Ojajuni, to the Command Headquarters in Idiroko. He stated that the engagement through the Joint Border Security Committee led to a significant reduction in the number of checkpoints, thereby easing the movement of legitimate goods without compromising security. Afeni explained that the reforms are in line with the Service's broader modernisation agenda, which recently earned the Nigeria Customs Service recognition by the Presidential Enabling Business Environment Council, PEBEC, as one of Niger...

Financial Crime: NFIU To Set Up Women’s Anti-money Laundering Body

BY CHIKA OKEKE, Abuja As part of efforts to strengthen the fight against financial crimes, the Nigerian Financial Intelligence Unit, NFIU, has concluded plans to set up the Nigerian chapter of the women’s anti-money laundering body.  Tagged the Women in Anti-Money Laundering, Countering the Financing of Terrorism and Counter-Proliferation Financing, AML/CFT/CPF, Network, it is expected to provide a platform for experienced professionals in both the public and private sectors to mentor the next generation. Chief Executive Officer of the NFIU, who is Nigeria's National Correspondent to the Inter-Governmental Action Group against Money Laundering in West Africa, GIABA, Hafsat Abubakar Bakari will unveil the body in October. Nigeria is a member of GIABA, the FATF-style regional body for West Africa, that conducts mutual evaluations of member states’ anti-money laundering and counter-terrorism financing systems and supports reforms to improve compliance with international st...