The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed Nigeria’s commitment to sustained economic reforms and macroeconomic stability as the 2026 Spring Meetings of the World Bank wrapped up in Washington, D.C. Cardoso said Nigeria remained firmly on track in consolidating recent economic gains, stressing that the apex bank would continue to prioritise reforms, strengthen institutional capacity, and support long-term growth. He noted that Nigeria demonstrated “strong leadership” at the meetings, reaffirming its commitment to policies that promote stability, growth, and economic opportunity. ALSO READ CBN, IFSB meet to deepen Islamic Finance Cooperation at IMF/World Bank…
Author: Abdallah el-Kurebe
Several Nigerian states boast land areas comparable to—or even larger than—entire sovereign nations, highlighting the country’s immense geographic scale. A viral social media post by data enthusiast Ismaeel (@IsmaeelData) lists the top 10, drawing from Wikipedia’s compilation of Nigerian state areas and international sources like the CIA World Factbook and UN data. However, fact-checking by ASHENEWS confirms the figures are accurate and current as of official records, with minor rounding differences that don’t alter the comparisons. Here’s the verified ranking: Niger State (76,363 km²) exceeds Czech Republic (78,867 km²) slightly in some metrics, but the official Czech land area is…
The Federal Ministry of Finance has dismissed claims of hidden spending and diversion of federation revenue, describing recent media reports as a misrepresentation of findings from the latest Nigeria Development Update by the World Bank. The Minister of State for Finance, Taiwo Oyedele, in a statement he personally signed on Sunday, April 19, 2026, said interpretations suggesting that a significant portion of federation earnings is being diverted reflect a misunderstanding of Nigeria’s fiscal system. The Minister clarified that deductions by the Federation Account Allocation Committee (FAAC), which some reports labelled as waste or missing funds, are legitimate and comprise statutory…
A new publication titled “Military Law in Nigeria: A Quick Reference Guide to Practice and Procedure” has been unveiled, with stakeholders underscoring its importance in deepening understanding of military justice and strengthening accountability within Nigeria’s armed forces. Speaking on the motivation behind the book, the lead author and senior advocate of Nigeria, Prof. Ibrahim Abdullahi, SAN, explained that the work, which was conceived in honour of the Minister of State for Works, Mohammad Bello Goronyo, is to address widespread gaps in knowledge of military law, particularly as Nigeria’s armed forces continue to operate in increasingly complex security environments. He noted…
A graphic circulating widely on social media, purporting to rank countries by average erect penis length with Sudan at the top (17.95 cm), followed by the Democratic Republic of Congo, Ecuador, Ghana, and Nigeria, has drawn millions of views. However, rigorous scientific scrutiny reveals that the claims are unsubstantiated. The list originates from a 2015 WorldData.info compilation, which drew on self-reported data from unverified online surveys and non-peer-reviewed sources. Fact-checking organizations have repeatedly debunked this. A comprehensive 2015 meta-analysis published in the British Journal of Urology International (Veale et al.), encompassing 15,521 measurements, established a global erect mean of 13.12 cm (5.16…
The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association, has announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market. In a statement by the acting Director of Corporate Communications, Hakama Sidi Ali, issued on April 17, the apex bank said the NOFR is designed to enhance transparency, strengthen monetary policy transmission, and deepen Nigeria’s financial markets. According to the CBN, the new benchmark aligns Nigeria with global best practices in short-term interest rate benchmarks and is expected to improve price discovery, promote consistent pricing of…
The Federal Government has reiterated that it has no immediate plans to approach the International Monetary Fund (IMF) for loans, even as the country’s debt profile continues to expand and new borrowing arrangements emerge. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this on Thursday during a press briefing on the sidelines of the IMF-World Bank Spring Meetings in Washington, D.C. Edun said Nigeria is prioritising alternative financing strategies and structural reforms over IMF support, despite mounting fiscal pressures. “Nigeria has no plans at the moment to approach the IMF or any other source,” he stated.…
President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of N68.32 trillion, while also extending the implementation of the 2025 capital budget to June 30, 2026. The extension, contained in a separate amendment bill assented to by the President, shifts the deadline for the 2025 capital component from March 31 to June 30, 2026. According to a State House statement issued on Friday, the move is designed to ensure the full utilisation of funds allocated to ongoing infrastructure and development projects across the country. A breakdown of the 2026 budget shows N4.799 trillion allocated…
Renowned African industrialist and philanthropist, Aliko Dangote, has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, reaffirming his status as one of the most impactful business leaders of his generation. Dangote joins a distinguished group of global figures across politics, business, and culture. These include U.S. President Donald Trump, Chinese President Xi Jinping, Israeli Prime Minister Benjamin Netanyahu, Canadian Prime Minister Mark Carney, and Pope Leo XIV, the head of the Catholic Church. Also featured are leading figures in technology, including Sundar Pichai and Neal Mohan. The annual TIME100 list, published on April 15,…
Nigeria’s economic management team strengthened high-level engagements with global financial institutions on Tuesday, as the Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with the President of the World Bank, Ajay Banga, in Washington, D.C. The meeting, held on April 14, 2026, took place on the sidelines of the ongoing Spring Meetings of the International Monetary Fund and the World Bank, where policymakers, central bankers, and development partners are deliberating on global economic challenges and financing priorities. The Nigerian delegation’s engagement with the World Bank…