The Central Bank of Nigeria (CBN) has granted a temporary dispensation allowing importers to process Form M using valid National Agency for Food and Drug Administration and Control (NAFDAC) licences. The directive is contained in a circular dated January 26, 2026, with reference number TED/FEM/PUB/FPC/001/001, issued by the apex bank. According to the circular, the measure is intended to ease documentation challenges faced by importers of regulated products, particularly in situations where delays in regulatory processing could disrupt legitimate trade and supply chains. Under the dispensation, authorised dealers are permitted to process Form M applications for eligible imports upon presentation…
Author: Abdoulaye Kay
The Central Bank of Nigeria (CBN) has upgraded the operating licences of selected FinTechs companies and Microfinance Banks (MFBs) with nationwide operations to national status. The disclosure was made by the Director of the Other Financial Institutions Supervision Department (OFISD), Mr. Yemi Solaja, during the just-concluded annual conference of the Committee of Heads of Banks’ Operations (CHBOs) in Lagos. According to Solaja, the move is aimed at aligning licensing structures with the actual operational footprint of FinTechs and MFBs whose services now span across the country, in order to strengthen regulatory oversight. At the conference, he urged closer collaboration between…
Nigeria is once again at a familiar crossroads where policy choices expose deeper structural contradictions within the federation. The ongoing controversy surrounding the siting of the proposed National Gold Refinery in Lagos State is not merely an administrative disagreement; it is a constitutional, economic, and moral question that strikes at the very heart of equity, federal balance, and inclusive development. The Northern Elders Forum (NEF) has rightly raised fundamental concerns about the decision to locate a gold refinery thousands of kilometres away from the primary gold-producing regions of the country. The Coalition of Funtua Community-Based Organisations strongly aligns with this…
A powerful winter storm sweeping across large parts of the United States has killed at least 10 people and triggered widespread travel disruptions, power outages, and emergency warnings, as freezing conditions persisted into Monday. The storm, which dumped snow, sleet and freezing rain across a wide expanse of the country, prompted officials to urge residents to stay off the roads, while an Arctic air mass trailing the system was forecast to drive temperatures to dangerously low levels for several days. The U.S. National Weather Service (NWS) warned that severe winter conditions would continue into Monday morning, prolonging disruptions to daily…
The Nigerian Meteorological Agency (NiMet) has urged Nigerians—particularly people with asthma and other respiratory conditions—to exercise caution as dust haze and thunderstorms affect parts of the country. In its weather outlook released on Sunday, NiMet said dust particles are currently in suspension across several regions, posing health and visibility risks. The agency warned that the conditions could disrupt transportation and aviation operations. “Driving in the rain should be done with caution. Airline operators are advised to obtain airport-specific weather reports (flight documentation) from NiMet for effective planning,” the agency said. NiMet also advised the public to stay updated through its…
The Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), has taken over the criminal case instituted against senior lawyer, Mike Ozekhome (SAN), by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The takeover stalled Ozekhome’s planned arraignment before a High Court of the Federal Capital Territory (FCT) on a three-count charge in which he is accused, among other offences, of forgery. At the proceedings, the Director of Public Prosecution of the Federation, Rotimi Oyedepo (SAN), announced that he was representing the AGF and formally informed the court of the decision to assume control of…
Dangote Cement Plc has inducted 100 newly trained engineers and professionals into its workforce following the completion of its Graduate Trainee Programme, reinforcing the company’s commitment to job creation, skills development and local capacity building. The inductees, drawn from engineering, finance, IT and other disciplines, completed an intensive 18-month programme combining classroom instruction and on-the-job training at the Dangote Academy, the company’s four Nigerian plants and its head office. The Graduate Trainee Programme is a structured development pathway designed to groom high-potential professionals for future leadership roles through cross-functional exposure, executive mentorship and hands-on project execution. During the programme, trainees…
The corruption trial of Diezani Alison-Madueke, former Nigerian Minister of Petroleum Resources and the first female president of OPEC, is set to begin in London on Monday. Alison-Madueke, 65, faces five counts of accepting bribes and one count of conspiracy to commit bribery, all linked to her tenure as oil minister between 2010 and 2015 under former President Goodluck Jonathan. Prosecutors allege that between 2011 and 2015, she accepted “financial or other advantages” from individuals connected to two energy companies. The alleged benefits include the use and refurbishment of several London properties, payment of staff costs, luxury furniture, chauffeur-driven cars,…
The National Drug Law Enforcement Agency (NDLEA) has arrested a 30-year-old Brazilian woman, Ms. Ingrid Rosa Benevides, at the Nnamdi Azikiwe International Airport, Abuja, for attempting to smuggle into Nigeria 30.09 kilograms of heroin concealed in factory-sealed coffee packs, valued at over N3 billion. The suspect, a private security officer in Brazil, was apprehended on Friday, January 23, 2026, upon her arrival aboard a Qatar Airways flight QR1431, following processed intelligence. A search of her two checked-in bags revealed 21 factory-sealed packets of Brazilian coffee, which were later found to contain white heroin rather than the beverage. The seizure is…
Nigeria’s external reserves have climbed above the $46 billion mark for the first time in nearly eight years, underscoring a sustained improvement in the country’s foreign exchange position since the launch of FX reforms in 2025. Latest data from the Central Bank of Nigeria (CBN), dated January 22, 2026, show that reserves reached $46 billion, a level last recorded on August 27, 2018, when they stood at $45.9 billion. The milestone reflects steady inflows and tighter foreign exchange management, strengthening buffers for import cover and currency stability as the country enters a politically sensitive pre-election year. Data indicate that reserves…