Nigerian commercial banks deposited a record N3.7 trillion with the Central Bank of Nigeria (CBN) through its Standing Deposit Facility (SDF) on December 24, reflecting one of the strongest liquidity surges in recent months. CBN data covering December 22–24, 2025, show that SDF placements jumped sharply from N2.47 trillion on December 23 to N3.67 trillion on Christmas Eve—an increase of about N1.2 trillion within 24 hours—despite the apex bank’s earlier N1.7 trillion liquidity mop-up via Open Market Operations (OMO). Banks’ opening balances at the CBN also rose from N163 billion to N223 billion, underscoring ample cash levels heading into the…
Author: Abdallah el-Kurebe
The United States government has announced a $3,000 incentive for undocumented immigrants who voluntarily leave the country during the Christmas season, warning that those who fail to do so risk arrest and deportation. In a statement issued on Monday, the Department of Homeland Security (DHS) said eligible immigrants who enroll in the programme will receive the stipend and a free flight to their country of origin. According to the department, undocumented immigrants who sign up to self-deport through the CBP Home app before the end of the year will qualify for the incentive. “Illegal aliens who sign up to self-deport…
The former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, has rejected corruption allegations brought against him by the Chairman of the Dangote Group, Aliko Dangote, describing them as “wild and spurious” and insisting that the claims should be tested only through formal investigation. Farouk’s response comes amid mounting public attention following Dangote’s petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC), in which the businessman accused the NMDPRA boss of actions amounting to economic sabotage and regulatory misconduct. In a disclaimer personally signed by him, Farouk denied authorship of…
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has explained that his petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, was prompted by alleged abuses of office linked to the proposed payment of over ₦200 billion in disputed bridging claims to oil marketers, a move he said raises serious questions about transparency, accountability, and the management of public funds in the downstream petroleum sector. According to a press statement made available to select media platforms by the Dangote…
President Bola Ahmed Tinubu will on Friday present the 2026 Appropriation Bill to a joint session of the National Assembly (NASS) at 2:00 p.m. This was disclosed in a letter issued by the Clerk to the National Assembly (CNA), Mr. Kamorudeen Ogunlana, and signed on his behalf by the Secretary, Human Resources and Staff Development, Mr. Essien Eyo Essien. The letter stated: “I am directed to inform you that the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, will present the 2026 proposed Budget to a joint session of…
The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engineer Farouk Ahmed, and the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, have resigned from their positions. The resignation of the duo may not be unconnected to a petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC), demanding a full investigation into alleged abuse of office and corrupt enrichment by Ahmed Farouk. Following their resignation, President Bola Tinubu has forwarded to the Senate the names of two nominees to head Nigeria’s key petroleum regulatory agencies following the…
Sokoto State Governor, Dr Ahmed Aliyu, on Wednesday, presented a ₦758.7 billion 2026 Appropriation Bill to the State House of Assembly, with a strong emphasis on capital development, security, health, education and economic growth. Presenting the proposal, tagged “Budget of Socio-Economic Expansion,” the governor said the spending plan was shaped by inputs from citizens across the state’s three senatorial zones and reflects the administration’s nine-point smart agenda. According to the breakdown, the total budget size is ₦758.7 billion, with ₦551.49 billion (72%) allocated to capital expenditure and ₦207.21 billion (28%) to recurrent spending, a structure the governor said aligns with…
The United Nations General Assembly has overwhelmingly adopted a landmark political declaration aimed at tackling non-communicable diseases (NCDs) and promoting mental health, with 175 member states voting in favour. Only the United States and Argentina opposed the declaration, while Paraguay abstained. The declaration was originally scheduled for adoption by consensus at the UN High-Level Meeting (HLM) on NCDs on September 25. However, last-minute objections by the United States forced the matter to be referred to the General Assembly for a formal vote. A first-ever joint global framework Welcoming the outcome, the World Health Organization (WHO) described the declaration as the…
Senator Aliyu Magatakarda Wamakko on Tuesday, added a strong human voice to the Senate’s debate on the growing hardship faced by Nigerian farmers, as lawmakers considered a motion on falling produce prices and the rising cost of farm inputs. During the plenary, Wamakko actively supported a motion sponsored by Senator Muhammed Danjuma Goje, which highlighted how millions of farmers are being squeezed by the high cost of fertilisers, pesticides and insecticides, even as the prices of their harvested crops continue to drop. Speaking from experience, who is also a farmer, acknowledged the steps already taken by the Federal Government to…
Elon Musk has solidified his position as the world’s richest person, boasting a jaw-dropping net worth of $638 billion, according to the latest Bloomberg Billionaires Index. The Tesla and SpaceX CEO’s wealth dwarfs the competition, outpacing second-place Larry Page’s $265 billion by more than double. The index, updated daily and tracking the fortunes of the planet’s wealthiest individuals, reveals a heavily U.S.-dominated landscape. Americans claim 30 of the top 50 spots, including tech titans like Google’s Sergey Brin and Larry Page (at $246 billion each, tied for third), Amazon founder Jeff Bezos ($246 billion), and Meta’s Mark Zuckerberg ($229 billion).…