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The Pele World Cup shirt worn during the 1958 FIFA World Cup final has sold for $4.9 million at auction, making it the most valuable item of memorabilia ever associated with the Brazilian football icon. Auction house Sotheby’s announced the sale on Thursday, revealing that the famous number 10 shirt attracted 10 bids from more than five bidders.…

A slight drop in Nigeria’s inflation rate does not mean the prices of goods and services are falling, according to leading economic experts. The experts cautioned Nigerians against confusing lower Nigeria’s inflation rate with cheaper living costs, explaining that inflation measures how quickly prices rise rather than the actual prices consumers…

A renewed surge in food prices nationwide have become the country’s biggest inflationary concern, prompting the Centre for the Promotion of Private Enterprise (CPPE) to advocate for stronger structural reforms rather than further monetary tightening. The CPPE’s review of the National Bureau of Statistics’ June inflation report shows a broadly…

The Federation Account Allocation Committee (FAAC) has shared ₦2.55 trillion in June 2026 revenue among Nigeria’s three tiers of government. The allocation was approved during FAAC’s July meeting in Abuja on Wednesday. The funds were distributed among the Federal Government, 36 states, and 774 local government councils following the committee’s…

The Central Bank of Nigeria (CBN) has issued regulatory guidance for the purchase of foreign exchange by Bureau De Change (BDC) operators through authorised dealer banks, introducing an electronic framework aimed at improving transparency, liquidity and compliance in the retail foreign exchange market. The circular, dated July 15, 2026 and…