The Federal High Court in Abuja has restrained eNaira Payment Solutions Ltd from claiming ownership of the “eNaira” trademark and ordered the company to adopt a new name that excludes the word “Naira.” In a judgment delivered on Friday, Justice James Omotosho granted a perpetual injunction against the company and awarded N10 million in damages. The ruling followed a legal dispute involving the Central Bank of Nigeria, the Registrar of Trademarks and the Registrar-General of the Corporate Affairs Commission. Although the court acknowledged that eNaira Payment Solutions Ltd had been incorporated since 2004, Justice Omotosho held that the company’s name…
Author: Abdoulaye Kay
The Nigerian naira gained ground against the British pound sterling, trading at N1,840/£1 in the official foreign exchange market, according to the latest data from the Central Bank of Nigeria (CBN). The local currency has rebounded from its April lows and remained relatively stable in recent weeks, supported by the CBN’s liquidity management measures and easing pressure in the foreign exchange market. The naira’s recovery comes as the pound faces headwinds from growing political uncertainty in the United Kingdom. Sterling recently slipped to monthly lows amid leadership tensions within the ruling Labour Party and speculation over the future of Prime…
Aisha* has just arrived at Jahun General Hospital in Jigawa State in northern Nigeria, in deep pain, not only emotional pain after losing a child during childbirth in Yobe, a neighbouring state, but also physical pain from an injury caused by complications during delivery. On the eastern side of the African continent, Hodan* arrives at Bay Regional Hospital in Baidoa, southwestern Somalia. She was married off as a teenager in a village on the rural outskirts of Bur Hakaba. Her first delivery was prolonged and complicated; the baby was delivered with forceps but did not survive. Soon after, Hodan lost control of…
The Central Bank of Nigeria (CBN) allotted N829.32 billion at its Treasury Bills Primary Market Auction held on May 20, 2026, exceeding the initially offered N650 billion across the 91-day, 182-day, and 364-day tenors. Auction results showed that total subscriptions rose to about N1.99 trillion, underscoring strong market liquidity and sustained investor appetite for government securities, particularly longer-dated instruments. The one-year (364-day) bill accounted for the bulk of demand, attracting subscriptions of N1.84 trillion against an offer of N500 billion. The CBN eventually allotted N683.29 billion, translating to an oversubscription rate of about 3.7 times. The 182-day bill recorded subscriptions…
President Bola Tinubu has appointed Prof. Segun Aina as the new Registrar of the Joint Admissions and Matriculation Board (JAMB), the presidency said on Thursday. Aina succeeds Prof. Is-haq Oloyede, whose tenure expires on July 31. Aina, who turns 40 in July, is a professor of Computer Engineering at Obafemi Awolowo University, Ile-Ife. He holds a Bachelor of Engineering in Computer Systems Engineering from the University of Kent and earned an MSc in Internet Computing and Network Security and a PhD in Digital Signal Processing from Loughborough University, UK. He also completed the Senior Management Programme at the Lagos Business…
Over the past few months, particularly since the start of 2026, Nigerian banking regulators have rolled out a series of high-impact policies and directives across the financial system. While some of these measures made headlines at the time they were announced, many quietly introduced significant changes that could affect banks, fintechs, businesses, investors, and millions of consumers. From new ATM deployment rules and tighter Bank Verification Number (BVN) requirements to fresh cybersecurity obligations and foreign exchange reforms, the regulatory landscape has continued to evolve rapidly. Over the past few months, particularly since the start of 2026, Nigerian regulators have rolled…
The Central Bank of Nigeria (CBN) and deposit money banks are reviewing concerns over excessive transaction alerts and customer charges following complaints from bank users about confusing debit notifications and deductions. CBN Governor, Olayemi Cardoso, disclosed this on Wednesday in Abuja during a press briefing after the 305th meeting of the Monetary Policy Committee (MPC). Cardoso said the apex bank had established a quarterly engagement framework involving its Consumer Protection Department, deposit money banks, and the top 10 microfinance banks to address unresolved customer complaints and improve service delivery. According to him, one of the key issues under review is…
The Sokoto State Government has officially upgraded and renamed the State College of Basic and Remedial Studies as part of a major reform in the state’s tertiary education sector. Governor signed into law the bill passed by the State House of Assembly on May 14, 2026, upgrading the institution into a full-fledged College of Technology and Advanced Studies. The development was announced on Wednesday by the Commissioner for Higher Education, Prof. Isa Muhammad Maishamu, during a briefing in his office. Under the new law, the former has been renamed the Aliyu Magatakarda Wamakko College of Techjogy and Advanced Studies, in…
The Federal Government has started releasing 50% of outstanding 2025 Bilateral Education Agreement (BEA) scholarship arrears to Nigerian students studying abroad, the Federal Ministry of Education said in a statement published on its official X page on Wednesday. The partial payment settles backlog allowances owed under the BEA scholarship programme after earlier funding delays. According to the ministry, the funds were processed through the Central Bank of Nigeria and transmitted to Nigerian embassies and missions for onward payment to beneficiaries. “The Federal Government has commenced the disbursement of approved outstanding 2025 allowances to beneficiaries of the Bilateral Education Agreement (BEA)…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent following the conclusion of its 305th meeting in Abuja. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday, during a press conference, after the two-day meeting attended by all 11 MPC members. The committee also retained all other key monetary policy parameters, underscoring its cautious stance as it continues to assess inflationary trends and broader macroeconomic developments. ALSO READ MPC meeting: Analysts expect CBN to hold rates amid inflation pressures, By Israel Ojoko Under the decision, the…