The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered 908 suspected ghost workers across federal ministries, departments and agencies (MDAs), with about N942 million allegedly recovered from fraudulent payroll payments. The ICPC Chairman, Dr Musa Adamu Aliyu, SAN, disclosed this while speaking on the outcome of an investigation launched in 2024 following the discovery of irregularities in pension payments. According to the commission, the investigation revealed widespread manipulation of government payroll systems, including the insertion of fictitious names to divert public funds. Aliyu alleged that some senior public officials enrolled relatives and associates on government payrolls and…
Author: Abdallah el-Kurebe
When the Central Bank of Nigeria (CBN) says it is “holding rates steady,” it means the apex bank has decided to keep its key monetary policy parameters unchanged after a scheduled meeting of its Monetary Policy Committee (MPC). In practical terms, borrowing costs, liquidity conditions, and the overall policy stance remain unchanged, signalling caution rather than a shift toward easier or tighter monetary policy. What exactly was held steady? At its 305th MPC meeting on 19–20 May 2026, the committee kept all major levers unchanged: Monetary Policy Rate (MPR): 26.5% – This is the CBN’s benchmark interest rate, effectively the…
A rapid surge in suspected cholera cases has placed healthcare facilities in Borno State under severe pressure, with the state recording more than 35,500 suspected cases and 198 deaths as of July 12, 2026. The outbreak, which began with the reporting of the first suspected cases on May 1, has continued to spread amid overcrowded informal settlements, limited access to safe drinking water, poor sanitation and inadequate waste management. Médecins Sans Frontières (MSF) said the scale of the outbreak had stretched healthcare services, with health workers struggling to keep pace with the rising number of patients requiring treatment. Among those…
Nigeria’s external reserves have risen above the $52 billion mark, exceeding the Central Bank of Nigeria’s (CBN) projection for the whole of 2026. Data from the CBN showed that the country’s external reserves stood at $52.02 billion as of July 20, 2026. The latest figure is about $570 million higher than the $51.45 billion recorded at the end of June and above the CBN’s projected reserve level of approximately $51.04 billion for 2026. ALSO READ CBN reaffirms commitment to price stability, says economy remains on resilient growth path The current reserve position also represents Nigeria’s strongest level in more than…
The Central Bank of Nigeria (CBN) has retained its Monetary Policy Rate (MPR) at 26.5 per cent, as the Monetary Policy Committee (MPC) maintained its tight monetary policy stance amid inflationary pressures and heightened global uncertainties. CBN Governor Olayemi Cardoso announced the decision at the end of the 306th MPC meeting held in Abuja on July 20 and 21, 2026. According to Cardoso, all 11 members of the committee attended the two-day meeting, where they reviewed recent developments in the domestic and global economies before deciding to leave the benchmark interest rate unchanged. ALSO READ [BREAKING] CBN retains interest rate…
The Executive Director of the United Nations Children’s Fund (UNICEF), Catherine Russell, has called for sustained investment in Nigerian children, describing them as the country’s greatest opportunity for long-term economic growth, innovation and resilience. Russell made the call at the end of her official visit to Nigeria, where she commended ongoing government efforts to improve the welfare of children while warning that mounting global economic pressures could undermine recent progress. With nearly 105 million children and adolescents—about half of Nigeria’s population—she said the country possesses one of the world’s largest reservoirs of human potential, which must be nurtured through sustained…
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said ongoing reforms in exchange rate management, monetary policy and financial system stability are strengthening Nigeria’s economic outlook and creating new opportunities for investment. Speaking during a fireside chat at the BusinessDay CEO Forum 2026, Cardoso said the country’s external reserves and banking sector had recorded significant improvements, reflecting growing investor confidence in the economy. According to him, Nigeria’s gross external reserves have risen organically to $52 billion, providing about 10 months of import cover, while net foreign reserves have increased to approximately $40 billion, further strengthening the country’s…
Applications will soon be opened for the September 2026 intake into the Neptune Prime Institute of Journalism (NPIJ). Driven by the vision of veteran journalist Dr Hassan Gimba, ANIPR, Publisher and CEO of Neptune Prime Network Nigeria Limited, publishers of one of Nigeria’s leading online newspapers, Neptune Prime (English and Hausa), Neptune Prime Institute of Journalism (NPIJ) seeks to train individuals passionate about storytelling and eager to build rewarding careers in journalism, content creation and the media. Prospective students can apply for any of the following programmes via the organisation’s website https://npij.neptuneprime.com.ng/ Diploma in Journalism & Media StudiesCertificate in Mass Communication…
The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as revenue generated in June 2026 among the Federal Government, the 36 states and the 774 local government councils, reflecting improved revenue collections during the month. According to a communiqué issued after the July FAAC meeting in Abuja, the distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax (VAT). From the total allocation, the Federal Government received N923.438 billion, while state governments shared N838.208 billion. The 774 local government councils received N591.390 billion, while N197.610 billion was distributed to oil-producing states…
The challenge is less about the absence of policies and more about the gap between policy and practice, especially at grassroots level. That gap has allowed deforestation, desert encroachment and land degradation to continue despite repeated interventions.