Naira Hits Two-Year High: Parallel Market Drops Below ₦1,350 Following New CBN BDC Directive
- BUSINESS
- February 11, 2026

The Transmission Company of Nigeria has declared force majeure on the Ikeja-West–Osogbo 330kV transmission line after a severe rainstorm disrupted operations on April 16, 2026. According to a statement by General Manager of Public Affairs, Ndidi Mbah, the line tripped during the storm due to a fault detected about 14.9km from the Ikeja West (Ayobo)
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The Federal Government has rejected reports alleging hidden spending and diversion of federation revenue, describing them as misleading. Minister of State for Finance, Taiwo Oyedele, said the claims were based on a misinterpretation of the latest Nigeria Development Update by the World Bank. He explained that deductions by the Federation Account Allocation Committee are lawful
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Pope Leo XIV has cautioned against the misuse of artificial intelligence, warning that it is increasingly being used to spread polarisation, conflict, fear, and violence. Speaking in Yaoundé, Cameroon, the pope said the danger goes beyond technology itself, stressing that AI risks replacing reality with simulation and altering humanity’s relationship with truth. He also criticised
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Joint Admissions and Matriculation Board has released results for 632,788 candidates who sat for the first day of the 2026 UTME. Candidates can check their results by sending “UTMERESULT” via SMS to 55019 or 66019 using their registered phone numbers, though result slip printing is not yet available. The Board said more batches will be
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The global oil market has lost over $50 billion in crude production since the war involving Iran began nearly 50 days ago, according to industry data. More than 500 million barrels of crude and condensate have been removed from the market, marking one of the largest energy supply disruptions in modern history. Abbas Araqchi confirmed
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Federal Competition and Consumer Protection Commission has dismissed reports claiming a ban on airtime borrowing and data advance services, describing them as false and misleading. The Commission clarified that no directive has been issued restricting access to these telecom services, stressing that they remain available to consumers. It explained that the confusion stems from regulatory
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