The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Friday presented a souvenir to the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, during the Minister’s working visit to the CBN Head Office in Abuja. The visit provided an opportunity for both leaders to reinforce collaboration between the Central Bank and the Federal Ministry of Finance as part of ongoing efforts to strengthen policy coordination and advance Nigeria’s economic reform agenda. The presentation of the souvenir underscored the cordial relationship and shared commitment to promoting macroeconomic stability and sustainable economic growth.
Author: Abdoulaye Kay
Food security is often framed as a question of production. Yet at its core, it is about something far more fundamental: how societies organise themselves to ensure that food remains reliably available, accessible, and affordable. In that sense, food is not only a commodity. It is a public good, central to economic stability, social cohesion, and national resilience. The food sector also continues to be the largest employment generator across developing countries. India’s transformation from a food deficit nation to one of the world’s largest agricultural producers is frequently linked to the Green Revolution. Focusing too narrowly on that moment misses the broader lesson, aligning policy, institutions,…
The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender in Nigeria and must be accepted for all transactions nationwide. In a statement issued on Tuesday, July 8, 2026, the acting Director, Corporate Communications of the apex bank, Hakama Sidi-Ali said it had become aware of reports that some members of the public, businesses and other stakeholders were rejecting the note amid doubts about its continued legal status. “For the avoidance of doubt,” the CBN said, “both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be…
The Nigerian naira maintained a relatively stable position against the British pound at the opening of the midweek foreign exchange session, trading at about ₦1,827 to £1 in the official market as recent monetary measures continued to support exchange rate stability. Market data indicated that the pound-naira exchange rate has been moving within a narrow range in recent sessions, reflecting reduced volatility in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Analysts attribute the trend to periodic foreign exchange interventions by the Central Bank of Nigeria (CBN), aimed at easing market pressures and improving liquidity. The CBN’s strategy of injecting foreign…
The Central Bank of Nigeria (CBN) allotted N1.06 trillion at its Treasury bills (NTB) primary market auction held on Wednesday, July 8, 2026, raising the stop rate on the one-year bill to 17.70%, up from 17.34% recorded at the June 17 auction, while leaving the mid-tenor rate unchanged. Auction results showed total subscriptions of about N2.03 trillion against an offer of N700 billion, representing an oversubscription of approximately 2.9 times. As in previous auctions, investors showed the strongest appetite for the 364-day Treasury bill, which attracted N1.86 trillion in bids. The auction marks the first major sale under the CBN’s…
Sultan Muhammadu Sa’ad Abubakar fled northern traditional rulers and prominent Islamic scholars to Kaduna on Monday for a high‑level peace meeting aimed at tackling insecurity and promoting unity across the region. Participants included members of the Northern Traditional Leaders Council, federal lawmakers, security chiefs and policy makers who discussed spiritual and community‑based strategies to confront banditry, kidnapping and other violent crime affecting northern states. Strengthening grassroots intelligence and moral leadership Speakers at the meeting urged clerics and traditional leaders to deepen collaboration with security agencies and state governments to strengthen grassroots intelligence and early warning systems, while using sermons and…
Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, has issued a 72-hour ultimatum to Adeniyi Adeyemi, warning him to withdraw the allegations he described as defamatory against Gbajabiamila or face a N10 billion defamation lawsuit, as well as possible criminal proceedings. The ultimatum was conveyed in a cease-and-desist letter dated July 6, 2026, by the law firm of Pinheiro LP, led by Senior Advocate of Nigeria (SAN) Kemi Pinheiro, acting on behalf of Gbajabiamila. According to the letter, Adeyemi made a series of allegations during a June 25 press conference, accusing the Chief of Staff of corruption, abuse of…
The Nigerian Police have arrested the father and a family friend of Adeniyi Adeyemi, the embattled figure accused of posing as the Director-General of the purported Presidential Foreign Intervention Promotion Council (PFIPC), in Ogbomoso, Oyo State, as investigations into the controversial, alleged fake government agency intensify. The arrests were disclosed by prominent human rights lawyer, Femi Falana (SAN), who alleged that police operatives stormed the family residence of Adeyemi’s parents and took his father into custody along with a family friend who was visiting at the time. Falana criticised the action, describing it as an unlawful case of “substituted arrest.”…
Nigeria’s foreign exchange (FX) market recorded its strongest weekly trading activity in more than three months, with total turnover rising 7.67 per cent to $3.05 billion in the week ended July 3, 2026. The increase, equivalent to $217.57 million from the previous week’s $2.84 billion, was driven by stronger activity in both the spot and derivatives segments of the market, according to the latest weekly review released by FMDQ. The report showed that average daily turnover climbed to approximately $610.6 million, marking the second consecutive week of simultaneous growth in both market segments. Spot transactions continued to account for the…
The naira recorded a slight depreciation against the United States dollar in both the parallel and official foreign exchange market, extending its recent weak performance. In the parallel markets, the local currency traded at N1,400 per dollar, compared to N1,395/$ recorded at the close of trading last weekend, reflecting a N5 loss. Similarly, data from the Central Bank of Nigeria indicated that the naira also weakened in the Nigerian Foreign Exchange Market (NFEM), where the indicative exchange rate edged up to N1,371/$ from N1,370/$ at the previous close. ALSO READ CBN plans record N2trn treasury bill issuance to tighten liquidity…