The media team of the Sultan of Sokoto has dismissed as false a viral social media post alleging that Benue State Governor, Hyacinth Alia, was seen worshipping the Sultan, describing the claim as misleading, divisive, and potentially dangerous. The team, in a press statement signed by Bashir Adefaka on behalf of the Media Team of the Sultan of Sokoto and dated Sunday, April 12, 2026 and issued on Sunday, said it had been alerted to the circulation of a post titled “Leaked photo of Governor Hyacinth Alia worshipping the Sultan of Sokoto,” which has been widely shared across WhatsApp groups…
Author: Abdoulaye Kay
The Federal Government has directed the Nigeria Immigration Service (NIS) to immediately deactivate and withdraw passports issued to individuals who have formally renounced Nigerian citizenship. The directive was issued by the Minister of Interior, Olubunmi Tunji-Ojo, in a statement released on Saturday by his Special Adviser on Media and Publicity, Babatunde Alao. According to the minister, the order applies strictly to Nigerians whose renunciation requests have been duly approved by President Bola Ahmed Tinubu. He explained that the move aligns with constitutional provisions governing citizenship status. “Once a person ceases to be a citizen, they can no longer hold sovereign…
The Federal Government has approved the rollout of a biometric passenger identity verification system, VPASS, across domestic airports to strengthen security and improve passenger identification. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this in a statement issued on Thursday through his spokesperson. The initiative forms part of broader reforms aimed at enhancing transparency, accountability, and operational efficiency in Nigeria’s aviation sector, while addressing persistent gaps in passenger verification processes. Keyamo explained that VPASS is designed to ensure proper identification of all passengers through a contactless biometric verification process, effectively closing loopholes often exploited under the current system.…
Nigeria’s agent banking ecosystem is entering a decisive phase following new regulations by the Central Bank of Nigeria (CBN), aimed at curbing fraud, failed transactions, and operational inconsistencies. The updated guidelines, introduced on April 1, 2026, standardise PoS operations and require agents to work with only one financial institution—fundamentally reshaping how the network operates. Trust and reliability are now central to millions of Nigerians who depend on Point of Sale (PoS) agents for daily transactions. Over the past decade, agent banking has expanded rapidly across urban and underserved communities, bridging gaps left by traditional banking infrastructure. PoS agents have become…
The naira held firm against the British pound at N1,862/£1 in the official market on Thursday, reflecting relative stability in Nigeria’s foreign exchange space despite shifting global currency dynamics. Market data showed the local currency maintaining its position amid sustained demand for naira-denominated assets and softer sentiment around the UK economy. Analysts note that the N1,816.7/£1 level remains a key near-term resistance for the naira. A break below this could see the pair test the N1,800/£ psychological threshold, close to the historical low of N1,799/£1. On the upside, N1,854/£1 is seen as an immediate support level, with a move beyond…
The naira appreciated to N1,365 per dollar on Thursday, gaining modestly against the U.S. currency amid a broader global weakening of the greenback. Data from the Central Bank of Nigeria (CBN) showed the local currency improved from N1,369/$ recorded on Wednesday, reflecting firmer sentiment across foreign exchange markets. The dollar is on track for its largest weekly decline since January, pressured by easing geopolitical tensions following optimism that a ceasefire in the Gulf region will hold and support the resumption of oil shipments. Market participants are also closely watching ongoing diplomatic engagements between the United States and Iran in Islamabad,…
The Presidency has clarified the rationale behind President Bola Tinubu’s approval of a ₦3.3 trillion plan to settle verified legacy debts owed to power generation companies (GenCos), describing it as a critical step to stabilise Nigeria’s electricity sector. The settlement, covering debts accumulated between February 2015 and March 2025, is part of the Presidential Power Sector Financial Reforms Programme aimed at improving liquidity, strengthening the grid, and enhancing power supply. In a statement by presidential spokesman Bayo Onanuga, the government said the initiative is not a bailout but a structured, market-based mechanism tied strictly to verified and contract-backed obligations. According…
The Central Bank of Nigeria (CBN) says poor electricity supply and insecurity remained the most significant challenges facing Nigerian businesses in March 2026, despite a generally positive outlook on the economy. According to the apex bank’s latest Business Expectations Survey released on Thursday, insufficient power supply ranked as the leading constraint with an index score of 74.5, followed by insecurity at 70.9—underscoring persistent structural bottlenecks affecting operations nationwide. Other major constraints identified by firms include high and multiple taxes (69.2), elevated interest rates (66.6), and financial challenges (64.3), reflecting a combination of cost pressures and broader macroeconomic headwinds limiting profitability…
The Central Bank of Nigeria (CBN) has emphasised that strong corporate governance and rigorous risk discipline are essential to the success of the country’s ongoing bank recapitalisation programme. This position was stated on Thursday by the CBN’s Director of Risk Management and Chief Risk Officer, Dr. Blaise Ijebor, at a virtual risk management roundtable organised by the Association of Enterprise Risk Management Professionals (AERMP). The event, held in Lagos, was themed: “Recapitalisation, Mergers and Acquisitions in the Nigerian Financial System: Minimising Risks and Maximising Opportunities for Greater Post-Recapitalisation Value.” Represented by another director, Olabanji Samuel, Ijebor described the recapitalisation exercise…
The United States has authorised the departure of non-essential embassy personnel and their families from its mission in Abuja, citing a worsening security environment in Nigeria. The directive was announced by the U.S. Department of State in a travel advisory published on its official website on Wednesday. According to the Department, the decision taken on April 8, 2026, followed a fresh assessment of the security situation across the country. It highlighted persistent risks linked to crime, terrorism, and civil unrest in multiple regions. While maintaining Nigeria’s Level 3 travel advisory status, the Department also designated several states under the more…