The Central Bank of Nigeria (CBN) has introduced a new Guide to Charges by Banks and Other Financial Institutions, set to take effect on May 1, 2026. The updated rules are aimed at reducing banking costs, improving transparency, and making financial services more accessible to customers. Reactivating or closing an accountBanks can no longer charge customers for reactivating a dormant account. This means if your account has been inactive for a while, you can bring it back to use without paying a fee. Monthly statement of accountCustomers will now receive their monthly statement of account free of charge. However, if…
Author: Abdallah el-Kurebe
Recent shocks to global markets have once again highlighted the vulnerability of small-scale farmers to disruptions in fertilizer supply. Price volatility can quickly reduce access at the farm level, with direct consequences for productivity and incomes. Disruptions to fertilizer and fuel shipments through the Strait of Hormuz have generated severe shocks to agricultural production and purchasing power, driven by fuel and food inflation. Fertilizer prices have doubled in some contexts (from ~US$350/mt to over US$700/mt within weeks), and fuel costs for small-scale producers have risen by up to 30%. These price surges resulted in severe disruptions for small-scale farmers and producers…
The Sultan of Sokoto and President-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA) has expressed strong optimism about Nigeria’s future, assuring that the country will overcome its present challenges and regain its path to greatness. The Sultan stated this in a message delivered on his behalf by the Sarki Fulani of Lagos, Dr Mohammed Abubakar Banbado II, during the presentation of the book “Gani Fawehinmi and the Nigerian Press” authored by Basirat Fawehinmi-Biobaku, daughter of the late legal icon Gani Fawehinmi, in Lagos on Wednesday. In a statement signed by Bashir Adefaka on behalf of the Sultan’s Media…
Governors across Nigeria have quietly advanced plans to establish state-controlled policing systems, unveiling a framework that signals growing momentum for decentralised security architecture, even as constitutional amendments are still pending. This formed a key outcome of the latest meeting of the Nigeria Governors’ Forum held on April 22, 2026, where state leaders reviewed national priorities and emerging policy directions. In a communiqué signed and issued by its Chairman and the Kwara state governor, AbdulRahman AbdulRazaq, at the end of the meeting, the Forum disclosed that it had developed a comprehensive State Police Framework outlining operational requirements, including governance structures, funding…
President Bola Tinubu has asked the Senate to approve a fresh $516.3 million foreign syndicated loan to fund sections of the proposed Sokoto–Badagry superhighway. The request was conveyed in a letter read on Thursday by Senate President Godswill Akpabio, seeking legislative backing in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011. Tinubu said the facility, to be arranged by Deutsche Bank AG, will finance Sections 1, Phase 1A and 1B of the project. He described the highway as a flagship project under his administration’s Renewed Hope Agenda, aimed at boosting national connectivity, cutting travel…
The Federation Account Allocation Committee (FAAC) has shared a total of about N2.04 trillion among the three tiers of government for March 2026, reflecting a modest increase in revenue compared to the previous month. At its April meeting, FAAC distributed the funds to the Federal Government, states, and local government councils from a gross revenue pool of about N2.36 trillion generated during the month. After deductions for the cost of collection and transfers, refunds, and savings, the remaining sum of roughly N2.04 trillion was shared. Breakdown of allocations ALSO READ February revenue: FAAC shares N1.894trn among FG, states, LGs From…
Feminist advocates across Africa have called for urgent reforms in the extractive sector, warning that women are being sidelined in the rapidly expanding critical minerals industry, despite bearing a significant portion of its social and environmental costs. The call was made in a statement issued in Harare, Zimbabwe on Tuesday, as global demand for critical minerals continues to rise, driven by the transition to clean energy technologies such as electric vehicles, solar panels, and batteries. Leading the advocacy is eco-feminist scholar and activist, Dr Mela Chiponda, who raised concerns about the unequal impact of mining activities on women in mineral-rich…
The Central Bank of Nigeria (CBN) has raised an alarm over a surge in fraudulent messages and cyberattack attempts targeting unsuspecting members of the public. In a press release issued by the Acting Director of Corporate Communications, Hakama Sidi-Ali, on April 21, 2026, the apex bank said it had observed the circulation of fake emails, messages, and online communications falsely claiming to originate from the CBN. These messages, according to the bank, are designed to mislead the public and compromise personal information. The CBN explained that many of the fraudulent communications prompt recipients to click on suspicious links or provide…
The Cross River State Government has confirmed a fresh case of COVID-19, marking a concerning development years after the last recorded infection in the state. The State Commissioner for Health, Dr. Henry Ayuk, disclosed this on Tuesday during a press briefing in Calabar. He revealed that the index case involves a 53-year-old Chinese national working with Lafarge, who arrived in Nigeria on March 17 before falling ill weeks later. Ayuk explained that the patient’s condition initially deteriorated at a state medical facility, prompting his transfer to the University of Calabar Teaching Hospital (UCTH), where samples were taken in line with…
President Bola Ahmed Tinubu has appointed Dr. Fatima Suleiman Zuntu as the new Director-General and Chief Executive Officer of the National Biosafety Management Agency (NBMA), effective April 16, 2026. The appointment was announced on April 20 in a statement issued by the Office of the Secretary to the Government of the Federation and signed by its Head of Information and Public Relations, Chris Ugwuegbulam. Dr. Zuntu succeeds in the leadership of the agency tasked with regulating modern biotechnology and ensuring the safe handling, transfer, and use of genetically modified organisms (GMOs) in Nigeria. The Presidency said her appointment, made in…