The Central Bank of Nigeria (CBN), acting on behalf of the Debt Management Office (DMO), has cancelled the N700 billion Treasury Bills auction scheduled for August 5, 2026, after aggressively draining liquidity from the banking system through back-to-back Open Market Operations (OMO). The cancellation came just two days after the apex bank mopped up a combined N4.69 trillion through OMO auctions conducted on August 3 and 4. In a notice to authorised dealers, banks, investors and other market participants, the CBN said the August 5 Treasury Bills auction would no longer hold. However, the authorities maintained that other dates in…
Author: Abdoulaye Kay
The Senate of the Federal University Dutse (FUD) has approved the expulsion of 11 students and the rustication of 23 others over various cases of examination misconduct. The disciplinary measures followed the recommendations of the university’s Senate Committee on Examination Misconduct after investigations into offences committed during examinations. According to the university, the affected students were found culpable of violating the institution’s examination regulations, prompting the Senate to impose sanctions in line with its academic rules and disciplinary procedures. Besides the expulsions and rustications, the Senate also approved lesser sanctions for some students, including written warnings, while a number of…
The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance has pushed the banking industry’s non-performing loans (NPLs) ratio well above the apex bank’s prudential threshold, according to the CBN’s First Quarter 2026 Economic Report. The report showed that the industry’s NPL ratio rose to 9.94 per cent in the first quarter of 2026, exceeding the CBN’s maximum benchmark of 5.0 per cent. This represents an increase of 2.43 percentage points from 7.51 per cent recorded in the fourth quarter of 2025. The CBN attributed the sharp rise in bad loans to the discontinuation of pandemic-era regulatory relief…
The West African Examinations Council (WAEC) has withheld the results of 167,486 candidates who sat the 2026 Computer-Based West African Senior School Certificate Examination (WASSCE) for school candidates over alleged examination malpractice. The withheld results account for 8.59 per cent of the 1,950,726 candidates who wrote the examination, according to the council during the official release of the results in Lagos on Wednesday. Speaking at the event, the Head of WAEC National Office, Dr. Amos Dangut, said the affected results were linked to various forms of examination malpractice, including the use of mobile phones in examination halls and organised cheating…
The Central Bank of Nigeria (CBN) says the gap between the official foreign exchange market and Bureau de Change (BDC) rates has narrowed to below two per cent, signalling improved stability in the country’s foreign exchange market as external reserves climbed above $52.5 billion. The apex bank attributed the development to the impact of its monetary and foreign exchange reforms, saying the country’s external reserves, which stood above $52.5 billion as of July 17, 2026, have reached their highest level in 17 years. The reserves have also surpassed the bank’s annual target, driven by sustained capital inflows and growing investor…
The Centre for Journalism Innovation and Development (CJID) has awarded sustainability grants to seven Nigerian media organisations in a move aimed at strengthening newsroom resilience, innovation and long-term financial viability. CJID Executive Director, Akintunde Babatunde, disclosed this in a statement on Monday in Abuja. The seven beneficiaries of the CJID Media Sustainability Grant are: International Centre for Investigative Reporting (ICIR) TheCable News Central TV WikkiTimes The Informant247 Prime Progress EduCeleb The grants are intended to help these organisations strengthen their institutional sustainability through improved business models, audience engagement, revenue diversification and newsroom resilience. The grants were presented in Lagos during…
The Central Bank of Nigeria (CBN), acting on behalf of the Debt Management Office (DMO), has scheduled its first Nigerian Treasury Bills (NTB) auction for August, offering a total of N700 billion across three maturities as part of its ongoing liquidity management strategy. According to the apex bank’s invitation to tender, the auction will be conducted through the Dutch auction system, with N100 billion offered in the 91-day bill, N100 billion in the 182-day bill, and N500 billion in the 364-day tenor, underscoring the continued emphasis on longer-dated securities. The auction is expected to attract strong interest from institutional investors,…
Nigeria’s financial system is becoming increasingly liquid, supported by stronger foreign exchange inflows and an expanding money supply. Yet the additional liquidity is not translating into stronger lending to businesses, raising questions about the effectiveness of monetary policy in stimulating investment and economic activity. The latest Monetary and Credit Statistics published by the Central Bank of Nigeria (CBN) for May 2026 paint a picture of an economy where liquidity conditions are improving, but businesses remain reluctant to borrow, while banks continue to exercise caution in extending new credit. Analysis of the CBN data by the Financial Markets Dealers Association (FMDA)…
The Central Bank of Nigeria (CBN) withdrew N7.18 trillion from the financial system through Open Market Operations (OMO) auctions in July 2026, marking a 48.6 per cent decline from the N13.96 trillion sterilised in June, as the apex bank quietly adjusted its liquidity management strategy. The reduction was driven largely by a drop in the number of OMO auctions conducted during the month. While the CBN held seven auctions in June, it carried out only three in July, although the size of individual auctions increased significantly. Analysts say the development points to a shift in the CBN’s operating approach rather…
The Federal University of Technology, Akure (FUTA), through its School of Computing, in collaboration with Cardiff Metropolitan University, United Kingdom, and with the support of the British Council, hosted the HerHCAI 2026 Capacity Building Workshop, a programme designed to empower women through human-centered Artificial Intelligence (AI) for gender equity and sustainable development, on July 29 and 30, 2026. The workshop, themed “Empowering Women through Human-Centered AI for Gender Equity and Sustainable Development,” explored the transformative role of Artificial Intelligence in promoting inclusive innovation, gender equity, and sustainable development. Speaking in her capacity as Chairperson of the workshop, Professor Olutayo Boyinbode…