The Central Bank of Nigeria (CBN) allotted a total of ₦894.17 billion at its Treasury Bills Primary Market Auction held on April 22, 2026, following a sharp surge in investor demand and stable stop rates across all maturities. Auction results show total subscriptions climbed to ₦2.36 trillion, far exceeding the ₦750 billion initially offered across the 91-day, 182-day, and 364-day tenors. In response, the CBN increased allotments above its original offer—particularly at the long end of the curve—while keeping rates unchanged. Demand remained heavily skewed toward longer-dated instruments. The 364-day bill dominated activity, attracting ₦2.12 trillion in subscriptions against an…
Author: Abdoulaye Kay
Médecins Sans Frontières (MSF) has launched an emergency response in Gwoza Local Government Area (LGA) of Borno State following a fresh wave of displacement triggered by armed violence. The organisation said attacks on Ngoshe on March 3, 2026, resulted in multiple deaths and abductions, forcing more than 5,000 people to flee their homes. The displaced persons are now sheltering in Pulka, about 15 kilometres away within Gwoza LGA, where they are living in extremely precarious conditions. Many of those affected—including women, children, and the elderly—arrived with little or no belongings. With inadequate shelter, several families are sleeping in open spaces…
Food prices in Nigeria have remained persistently high despite government interventions and food imports valued at N7.65 trillion in 2025, raising concerns about the effectiveness of policy measures aimed at easing cost pressures on households. A widening gap persists between fiscal interventions and actual market outcomes, as increased spending on palliatives and imports has yet to translate into meaningful improvements in food affordability nationwide. Data show that rising import bills and government interventions have not significantly reduced food prices, with inflation still elevated across key consumer categories. The Federal Government spent N9.74 billion on food palliatives in 2024, according to…
President Bola Tinubu has said the Central Bank of Nigeria (CBN) is settling outstanding obligations owed to foreign airlines to strengthen aviation ties between Nigeria and the United Kingdom. The President’s spokesman, Bayo Onanuga, disclosed this after a meeting with a delegation from British Airways, which is marking 90 years of operations in Nigeria. The development comes as the Minister of Aviation and Aerospace Development, Festus Keyamo, outlined Federal Government measures to ease financial pressure on airlines amid rising Jet A1 fuel costs and concerns over possible service disruptions. Keyamo said the President had approved discounts on certain outstanding fees…
The Kano Branch of the Ilorin Emirate Descendants’ Progressive Union (IEDPU) has concluded plans to lay the foundation for a multi-million naira secretariat complex, aimed at boosting its institutional capacity and deepening community development efforts. The foundation-laying ceremony is scheduled for Saturday, April 25, 2026, at 10:00 a.m. at the project site located at No. 53, King’s College Street, Kurna Asabe, Dantata Estate in Kano. In a statement jointly signed by the Union’s Public Relations Officer, Abdulrazaq Shehu Aladire, and the Vice Chairman of the Foundation Laying Committee, AbdulQuadri Ahmed Firdausi, the project—known as the IEDPU Kano Complex—is designed to…
A former Resident Electoral Commissioner (REC) of the Independent National Electoral Commission (INEC), Mike Igini, has called on the election umpire to urgently dispel concerns over alleged partisanship, warning that lingering doubts could undermine public confidence ahead of future elections. Igini described the controversy surrounding the electoral body as “regrettable and unfortunate,” stressing that perception plays a critical role in maintaining the credibility of any electoral management institution. He made the remarks during an appearance on a Channels Television programme. The concerns stem from allegations linking INEC’s chairman to a partisan social media account that reportedly supported the All Progressives…
As the 2026 Spring Meetings of the International Monetary Fund and World Bank concluded in Washington, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed that Nigeria’s economic reforms are yielding positive results and positioning the country for long-term stability. Cardoso said the CBN remains firmly on track, focusing on consolidating existing gains, sustaining reforms, and strengthening institutional capacity to deliver macroeconomic stability. According to him, Nigeria demonstrated strong leadership at the meetings, reaffirming its commitment to reforms aimed at promoting stability, growth, and economic opportunity. “Despite global uncertainty, Nigeria’s reform progress continues to stand out.…
Africa’s foremost industrialist, Aliko Dangote, has again made a strong case for infrastructure development, job creation, and deeper private sector investment as the backbone of Africa’s economic progress. Speaking during high-level engagements on the sidelines of the IMF and World Bank Spring Meetings in Washington, D.C., the President and CEO of the Dangote Group said Africa’s growth will depend largely on how well it invests in critical systems that support industry and productivity. Dangote, who addressed participants at the World Bank’s Water Forward event, stressed that infrastructure—especially sustainable water systems—must be prioritised if the continent is to achieve inclusive growth…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dismissed as false a viral video alleging a ₦50 billion bribery scandal, describing the content as fabricated and warning of impending legal action against those responsible. In a statement issued in Abuja, the commission said the video, widely circulated on social media, had no connection to its operations or any ongoing investigation. It emphasised that the claims presented in the footage were entirely fictitious and intended to mislead the public. ICPC spokesperson Demola Bakare explained that elements of the video, including images and referenced identities, were manipulated, with some…
Fresh geopolitical tensions between the United States and Iran have coincided with a modest strengthening of the Naira, which is showing signs of consolidation against the US dollar after its recent bullish run. The Nigerian currency appreciated slightly at the official market, gaining about 0.3 per cent to settle around N1,348/$, after touching an intraday low of N1,346.6/$. This follows a peak of N1,389/$ earlier in the month, suggesting the currency pair is now stabilising, albeit with a continued appreciation bias. Since the beginning of 2026, the Naira has recorded significant gains, strengthening from about N1,440/$. Analysts attribute this recovery…