Jerome Powell’s Turbulent Fed Tenure Nears End as Leadership Transition Looms
After steering the U.S. economy through a historic pandemic, surging inflation and unprecedented political scrutiny, Jerome Powell is preparing to conclude his eight-year tenure as chair of the Federal Reserve on Friday. Powell’s time leading the central bank spanned multiple national crises, including the economic collapse triggered by the COVID-19 pandemic, the highest inflation rates […]
Jet Fuel Surge Forces Rano Air to Cut Routes
Rano Air has announced the temporary suspension of some flight routes following what it described as an unprecedented rise of more than 300 per cent in the cost of Jet A1 aviation fuel. The airline disclosed this in a notice posted on its X (formerly Twitter) account and signed by management, stating that the sharp […]
Zenith Bank Gets New Chairman as Ovia Retires
Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the completion of his tenure in line with regulatory requirements. In a corporate notice issued in Lagos on May 5, 2026, the bank said Ovia stepped down after fulfilling the mandatory 12-year tenure for non-executive directors and chairmen, as […]
Stock market today: S&P 500, Nasdaq, Dow futures mixed as investors eye Trump’s Hormuz plan
U.S. Stock Futures Mixed as Investors Track Strait of Hormuz Developments U.S. stock futures were mixed and largely subdued Monday as investors monitored escalating developments in the Strait of Hormuz and a new initiative announced by U.S. President Donald Trump. Futures tied to the S&P 500 were little changed following the index’s record close last […]
Dangote Group Denies Rift With Elumelu, Rejects Refinery Funding Claims
The Dangote Group has dismissed reports suggesting a rift between its president, Aliko Dangote, and Tony Elumelu, describing the claims as false and misleading. In a statement issued on Saturday, the company’s spokesperson, Anthony Chiejina, said the publication alleging a fallout between both business leaders was “false, malicious, and baseless.” “The Dangote Group has become aware […]
Federal Reserve Set to Announce Rates Amid Inflation Pressures and Leadership Uncertainty
The Federal Reserve is expected to release its latest interest rate decision on Wednesday, as U.S. gasoline prices climb to their highest levels in four years. The announcement could mark one of the final major policy moves under Fed Chair Jerome Powell, whose term is set to expire next month. The decision comes at a […]
Dangote Advocates Power, Manufacturing Investment for Self-Reliance
President of the Dangote Group, Aliko Dangote, has called for urgent investment in local manufacturing and electricity infrastructure, stressing that Nigeria must produce what it consumes to achieve true economic independence. Dangote made the call at the induction ceremony of the Nigerian Academy of Engineering held in Victoria Island, Lagos, where he was honoured as […]
NUPENG Elects Oladiti as President, Vows Welfare Focus
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has elected Salimon Oladiti as its new national president, succeeding Williams Akporeha, who completed an eight-year tenure. Oladiti, a former National Trustee of the union, was elected during NUPENG’s 6th Quadrennial Delegates Conference held in Lagos. He is expected to serve a four-year term at […]
Oil Prices Surge After Trump Announces Planned Blockade of Strait of Hormuz
Global oil prices spiked Sunday night after U.S. President Donald Trump said the United States would move to blockade the Strait of Hormuz following the collapse of peace talks with Iran. U.S. crude jumped roughly 8%, climbing above $104 per barrel, while international benchmark Brent crude rose more than 7% to around $103 per barrel. […]
Shipping Disrupted Despite Ceasefire as Strait of Hormuz Traffic Slows
A ceasefire aimed at reopening the strategically vital Strait of Hormuz has instead led to reduced maritime traffic, with shipowners holding back amid ongoing uncertainty. Shipping data showed only four vessels transiting the strait on Wednesday, down from 11 the previous day—despite expectations that the U.S.-Iran truce would restore normal flow through the narrow waterway, […]
