President Bola Tinubu - African Times

Sackings Revive Nigeria Religious Tensions

Newly elected Nigerian President Bola Tinubu defeated his rivals, Peter Obi and Atiku Abubaka, in the February general elections.

RELIGIOUS tensions have returned to haunt Nigeria, this time sparked by the trigger-happiness of the new president, Bola Tinubu. His administration, at the helm of Africa’s largest nation, exactly a month now has gotten off to a crackdown against individuals of the previous government of Muhammadu Buhari. The security chiefs are the latest casualties, which… Continue reading Sackings Revive Nigeria Religious Tensions

Markets React To New Nigeria Reforms

MARKETS have responded positively to the early reforms by the new administration in Nigeria. FBN Quest, the market watcher, noted the Nigerian Stock Exchange (NGXAS) has rallied since the inauguration of President Bola Tinubu at the end of May. Compared with Sub-Saharan Africa peer markets like Johannesburg Stock Exchange (JSE) (+2,6 percent year-to-date), Kenya Stock… Continue reading Markets React To New Nigeria Reforms

Night of The Long Knives in Nigeria As Tinubu Wields Axe

A panel of five judges from Nigeria's election tribunal late Wednesday unanimously affirmed the election of President Bola Tinubu, solidifying his position as the West African nation's leader and effectively dismissing petitions by opposition parties. (Photo: Xinhua)

THE firing of service chiefs and immediate dissolution of the boards of all government parastatals, agencies, institutions and companies is the latest blitz by the new president, Bola Tinubu, to carve a stranglehold on power in Nigeria. The purge comes three weeks after he was inaugurated as the fifth president of Africa’s political and economic… Continue reading Night of The Long Knives in Nigeria As Tinubu Wields Axe

New Forex Policy Shakes Nigeria Markets

THE move by the Central Bank of Nigeria (CBN) to grant banks authority to determine their own foreign exchange (fx) trading rates has shaken the financial markets. Analysts believe the move strongly indicates the devaluation of the Nigerian naira and its vulnerability to market forces. The announcement led to intense volatility in the fx markets,… Continue reading New Forex Policy Shakes Nigeria Markets

Nigeria Edgy After Central Bank Governor Ousted

The governor of the Central Bank of Nigeria, Godwin Emefiele, and chairperson of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, were last week suspended and detained on multiple charges bordering on corruption and abuse of office.

FOR a man who a few months ago was one of the most powerful individuals in Nigeria, heading the central bank of Africa’s biggest economy, and aspiring for the presidency of the continent’s largest nation, Godwin Emefiele’s fall from grace has been headlong. In a flash, the Central Bank of Nigeria (CBN) governor’s fortunes have… Continue reading Nigeria Edgy After Central Bank Governor Ousted