The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced plans to establish a Compliance Department by February 2025 to strengthen transparency and resilience in Nigeria’s financial sector. Cardoso made this disclosure on Thursday during the launch of the Nigerian Economic Summit Group’s (NESG) 2025 Macroeconomic Outlook Report titled “Stabilisation in Transition: Rethinking Reform Strategies for 2025 and Beyond”. Speaking virtually at the hybrid event held in Lagos, he highlighted the department’s role in addressing past challenges and aligning with global standards. “The CBN is committed to upholding the highest standards of integrity, transparency, and accountability.…
Author: Abdoulaye Kay
Eighteen U.S. states have filed a lawsuit against President Donald Trump to halt his controversial executive order that denies birthright citizenship to children born on U.S. soil to undocumented immigrants. The lawsuit, filed Tuesday in a Federal District Court in Massachusetts, marks the first significant legal challenge to Trump’s immigration policies during his second term. Led by New Jersey Attorney General Matthew J. Platkin, alongside attorneys general from California and Massachusetts, the plaintiffs argue that the executive order is an unconstitutional overreach of presidential authority. “Presidents are powerful, but they are not kings. He cannot rewrite the Constitution with a…
“I don’t believe in aid; I believe in partnership. I’d rather carry my poverty with dignity and engage with nations, companies, and people on equal terms—not in a master-servant relationship. I didn’t come with a begging bowl.”
The United Nations Children’s Fund (UNICEF) has cautioned that water may soon become a highly prized resource in Nigeria if urgent measures are not taken to address environmental challenges and mitigate climate change effects. UNICEF’s Representative in Nigeria, Ms. Christiane Munduate, issued the warning during a press briefing in Sokoto on Thursday. She stressed that the commodity’s scarcity looms over many communities in the country due to environmental degradation and poor waste management practices. “Water will become the most precious commodity in Nigeria, surpassing the current value of solid minerals, oil, and gas,” Munduate stated. According to her, the alarming…
Democracies are sustainable only under conditions that allow competitive party systems to operate. There is a crisis in Nigeria’s democratic system and the source is our dysfunctional party system. For ruling parties, the crisis is deep, they stop operating as parties and become machines for ruing executives – president and state governors to do what they please while abandoning manifestoes and policies. For opposition parties, a significant percentage of their cadres move out to join the ruling party after every election. The remaining party leaders engage in a fight to the death, often helped or even instigated by the ruling…
The Federal Government aims to transition all examinations in Nigeria to 100% computer-based testing (CBT) by 2027, according to the Minister of Education, Dr. Tunji Alausa. Speaking at the inauguration of the Committee on Improvement of Quality Examinations in Abuja on Thursday, Alausa outlined the government’s commitment to addressing key challenges in the education sector, standardizing exams, and ensuring fairness and quality. He highlighted widespread examination malpractice as a major issue, noting that it involves not only students but also parents, teachers, principals, and exam supervisors. “To tackle these issues, we must adopt a holistic approach,” Alausa stated. “By 2027,…
The government has been called upon to harness the untapped potential of sorghum to address poverty and food insecurity across the country. This appeal was made by Sadiq Daware, Chairman of the Board of Trustees of the National Association of Sorghum Producers, Processors, and Marketers of Nigeria (NASPPAM), during the inauguration of the association’s newly elected executives on Thursday in Abuja. Daware emphasized that sorghum is a vital crop with the capacity to provide food, income, and employment for millions of Nigerians. However, he pointed out that the exclusion of commodity associations like NASPPAM from government policies and programs has…
The Enugu State Government has signed a Memorandum of Understanding (MoU) with Nigeria’s Fungtai Engineering Ltd to boost cash crop production. The agreement involves the development of 7,221 hectares of agricultural land at Ugwujoro, Nimbo, in Uzo-Uwani Local Government Area, aligning with Governor Peter Mbah’s vision of advancing agriculture, agro-industrialisation, security, and employment in the state. Additionally, the state government signed another MoU with the National Cashew Association of Nigeria (NCAN) to establish a pre-fabricated Domestic Export Warehouse at Enugu State Polytechnic, Iwollo. Speaking during the ceremonies at the Government House, Enugu, on Thursday, Governor Mbah, represented by the Secretary…
The Abia State Government has inaugurated the Science Teachers’ Championship (STC) competition to enhance Science, Technology, Engineering, and Mathematics (STEM) education across the state. Speaking at the launch in Umuahia on Thursday, the Commissioner for Basic and Secondary Education, Mr. Goodluck Ubochi, highlighted the critical role of STEM in the education sector. Represented by the Director of Science Technology and Vocational Education, Mrs. Hope Nwosu, Ubochi reaffirmed the government’s commitment to equipping and motivating science teachers to champion STEM education. “This is a statewide competition for all schools—public and private. The current administration is prioritizing science education, and we have…
Kenya has updated its Virtual Asset Service Providers Bill, 2025, introducing stricter measures aimed at regulating the burgeoning cryptocurrency sector. The revised bill now mandates crypto firms to establish physical offices within the country, obtain licenses, and subject their executives to regulatory vetting. This move mirrors Kenya’s recent requirement for social media companies to set up a local presence, highlighting the government’s push to hold global businesses directly accountable to local authorities. By enforcing physical offices, Kenya seeks to enhance its ability to monitor operations and ensure compliance. The bill, however, has sparked debate within the crypto community. Many crypto…