The National Bureau of Statistics on Monday released the Consumer Price Index, which measures inflation, with the index dropping marginally from 16.1 per cent in June to 16.5 per cent in July.

The bureau in the report said this is the sixth consecutive time that the index would be dropping since January this year.

“This makes it the sixth consecutive decline in the rate of headline year on year inflation since January this year," it said.

Meanwhile, the Federal High Court sitting in Lagos has ordered the final forfeiture of a sum of over N7 billion allegedly hidden in a bank by a former Minister of Petroleum Resources, Diezani Alison-Madueke, to the Federal Government.

The court had on August 9, 2017 ordered the interim forfeiture of the sum said to have been illegally kept in Sterling Bank Plc.