By Ayomide Otitoju The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has warned that sweeping new tariffs announced by U.S. President Donald Trump could cause a 1% contraction in global merchandise trade volumes this year. Speaking on Thursday, Okonjo-Iweala said the tariffs—unveiled a day earlier by Trump—could have “substantial implications for global trade…
By Ayomide Otitoju The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that new tariffs imposed by the United States present a “significant risk” to global economic growth. In a statement released Thursday, Georgieva expressed concern about the impact of the escalating trade tensions. “These tariffs clearly represent a significant risk…
By Ayomide Otitoju President Bola Tinubu has approved the appointment of Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, with immediate effect. The announcement was made Friday in a statement by presidential spokesperson Bayo Onanuga, who highlighted Sotinrin’s extensive background in agribusiness and infrastructure development. Prior to the appointment, Sotinrin served…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of an eight-member senior management team, following the recent inauguration of its Group Chief Executive Officer (GCEO) and Board of Directors. This was disclosed in a statement issued Friday by the company’s Chief Corporate Communications Officer, Olufemi Soneye, who said…
Real Madrid coach Carlo Ancelotti’s tax fraud trial concluded on Thursday in Spain, with prosecutors seeking a four-year, nine-month prison sentence over alleged tax evasion. Ancelotti is accused of failing to declare over €1 million ($1.1 million) in image rights earnings between 2014 and 2015, during his first stint at the Spanish club. Prosecutors allege…
By Ayomide Otitoju Hungary has announced its decision to withdraw from the International Criminal Court (ICC), aligning with Prime Minister Viktor Orban’s stance against the tribunal’s arrest warrant for Israeli Prime Minister Benjamin Netanyahu. The announcement on Thursday coincided with Netanyahu’s visit to Budapest, marking his first trip to Europe since 2023. The Israeli leader,…
By Ayomide Otitoju The Federal Ministry of Works has ordered the immediate reopening of Independence Bridge in Lagos following severe gridlock that left millions of commuters stranded on Wednesday. In a statement, Federal Controller of Works O.I. Kesha confirmed that Minister of Works David Umahi issued the directive, reversing an earlier closure for planned rehabilitation…
By Ayomide Otitoju The Independent National Electoral Commission (INEC) has rejected the petition seeking the recall of Senator Natasha Akpoti-Uduaghan, representing Kogi Central, citing failure to meet constitutional requirements. In a statement on Thursday, INEC clarified that the petition did not satisfy the provisions of Section 69(a) of the 1999 Constitution (as amended). “The petition…
The European Union has announced plans to implement countermeasures in response to new tariffs imposed by U.S. President Donald Trump, while remaining open to negotiations. European Commission President Ursula von der Leyen, speaking on Thursday during a summit with Central Asian leaders in Uzbekistan, described Trump’s decision as a “major blow to businesses and consumers…
