The Federation Account Allocation Committee (FAAC) has announced the disbursement of N2.22 trillion to the three tiers of government as revenue allocation for August 2025. FAAC distributed a total sum of N2.001 trillion in July 2025. The allocation, which was drawn from a gross revenue of N3.63 trillion, was disclosed in a statement issued on Wednesday by the Ministry of Finance following the committee’s meeting in Abuja in September. The session was chaired by Wale Edun, Minister of Finance and Coordinating Minister of the Economy. According to the statement, from the allocation inclusive of gross statutory revenue, value-added tax (VAT),…
Author: Abdallah el-Kurebe
The Joint Admissions and Matriculation Board (JAMB) has shifted the final date for the assessment of underage candidates who sat for the 2025 Unified Tertiary Matriculation Examination (UTME). The decision follows concerns that 23 of the 71 universities chosen by the affected candidates failed to submit their Post-UTME screening scores as of the September 15 deadline. According to JAMB, the development coincided with the release of the 2025 Senior School Certificate Examination (SSCE) results by the National Examinations Council (NECO) on September 17. A total of 135 candidates are affected, with the highest numbers recorded from the following universities: University…
The National Hajj Commission of Nigeria (NAHCON) has warned that delayed payment of 2026 Hajj fares by intending pilgrims could hinder early booking of prime accommodation in Mecca and Medina. Chairman of the Commission, Prof. Abdullahi Saleh-Usman, raised the concern on Wednesday during a courtesy visit to Katsina State Governor, Dikko Radda, who also chairs the North-West Governors’ Forum. He appealed for the governor’s support in mobilising early payments, stressing that timely action ensures pilgrims’ comfort and reduces costs. Highlighting past interventions, Saleh-Usman said President Bola Tinubu approved a ₦90bn subsidy for the 2024 Hajj and ₦24bn settlement for 2023…
The Nigeria Postal Service (NIPOST) says it is intensifying efforts to secure the country’s logistics space using modern technology, following the interception of a cannabis shipment from Bangkok, Thailand. NIPOST’s Director of Corporate Communications, Ibrahim Musa, disclosed in a statement on Wednesday that officials recently seized seven pouches of cannabis that arrived in Lagos, describing it as proof of the agency’s renewed commitment to sanitising the postal and logistics network. “The seizure serves as a concrete example of the agency’s commitment to securing the nation’s logistics space from illicit activities. The interception highlights a strategic shift within NIPOST, as the…
President Bola Ahmed Tinubu has lifted the six-month state of emergency imposed on Rivers State, restoring Governor Siminalayi Fubara, Deputy Governor Ngozi Nma Odu, and members of the State House of Assembly to office. The emergency, declared on March 18, 2025, followed a constitutional crisis that left the state paralysed, with the governor and lawmakers locked in a bitter standoff. Tinubu said intelligence reports showed that stakeholders in Rivers were now ready to return to democratic governance, adding that the measure would end at midnight on September 17, 2025. He thanked the National Assembly, traditional rulers, and residents for their…
The Trump administration has approved its first U.S. weapons aid packages for Ukraine funded by NATO allies under a groundbreaking financial arrangement, marking a new chapter in military assistance to Kyiv. Under the Prioritized Ukraine Requirements List (PURL) program, NATO members pool contributions to purchase American weapons from U.S. stockpiles for Ukraine’s defense. The program was launched this year following agreements between President Donald Trump and NATO leaders, emphasizing shared responsibility among allies. Two weapons shipments worth up to $500 million each have been authorized by Undersecretary of Defense for Policy Elbridge Colby and could soon be shipped, sources familiar…
With just six months left before the March 2026 deadline, only six of the thirteen deposit money banks listed on the Nigerian Exchange have met the Central Bank of Nigeria’s (CBN) recapitalisation requirements. The recapitalisation drive, announced in March 2024, compels banks to strengthen their capital base in line with their licence category. The new thresholds are: ₦500 billion for banks with international authorisation. ₦200 billion for banks with national authorisation. ₦50 billion for banks with regional authorisation. ₦20 billion for non-interest banks with national licences. ₦10 billion for non-interest banks with regional licences. The policy aims to ensure a…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says ongoing reforms in the oil and gas sector have delivered 28 new Field Development Plans (FDPs) with investment commitments worth $18.2 billion. The Commission’s Chief Executive, Gbenga Komolafe, disclosed this on Tuesday at the Africa Oil Week in Accra, Ghana, in a statement issued by Eniola Akinkuotu, Head of Media and Strategic Communications, NUPRC. Komolafe attributed the milestone to President Bola Tinubu’s Renewed Hope agenda, stressing that it underscored the attractiveness of Nigeria’s upstream sector. He explained that the 28 approved FDPs are expected to unlock 1.4 billion barrels of oil and…
The Central Bank of Nigeria (CBN) has directed all Domestic Systemically Important Banks (DSIBs) in the country to obtain regulatory approval for the appointment of successors to their Managing Directors or Chief Executive Officers at least six months before the expiration of the incumbent’s tenure. According to the apex bank, the new directive is aimed at strengthening leadership continuity in Nigeria’s most influential banks and preventing governance lapses that could disrupt financial stability. The policy, which takes immediate effect, also mandates banks to publicly announce the approved successor at least three months before the outgoing MD/CEO officially leaves office. This…
The Department of State Services (DSS) has filed a five-count charge at the Federal High Court in Abuja against social media giants X (formerly Twitter), Meta (owners of Facebook), and human rights activist Omoyele Sowore. Court documents sighted on Tuesday revealed that the charges, marked FHC/ABJ/CR/484/2015, were instituted by the Federal Republic of Nigeria as complainant, with Sowore, X Inc., and Meta Inc. listed as defendants. According to the charge sheet, Sowore is accused of using his official X handle, @YeleSowore, and his Facebook page to publish a post on August 25 and 26, 2025, describing President Bola Ahmed Tinubu…