The Central Bank of Nigeria (CBN) has allotted N1.054 trillion in Treasury Bills at its September 9, 2026 Primary Market Auction, while cutting the stop rate on the 364-day bill to 16.62%. The latest reduction marks the third consecutive cut in the yield on the one-year Treasury Bill, reinforcing signs of easing pressure on interest rates in the fixed-income market. Investors submitted bids worth N2.64 trillion across the three tenors offered, compared with the N750 billion initially offered by the CBN, translating to a bid-to-offer ratio of about 3.52 times. Despite the lower offer, the apex bank allotted about N304.18…
Author: Abdoulaye Kay
Investors seeking to buy shares in the Dangote Petroleum Refinery and Petrochemicals FZE public offering can subscribe through 32 approved channels comprising banks, fintech platforms, mobile money operators and NGX Invest. The approved channels are listed on the official Dangote Refinery IPO website, which cautions investors against using any platform not included on the approved list. The offering is priced at ₦525 per share, with a minimum subscription of 10 shares, valued at ₦5,250. The 32 approved channels are: Banks Access Bank Stanbic IBTC FirstBank UBA GTCO Zenith Bank Ecobank FCMB Fidelity Bank Globus Bank Jaiz Bank Keystone Bank Lotus…
…More naira, less value, mounting debts: Tinubu cannot devalue the currency and call the wreckage prosperity.
The Central Bank of Nigeria (CBN) has warned banks, fintechs and other financial institutions to strengthen their cybersecurity systems as the growing adoption of digital technologies exposes the financial sector to new threats. The warning comes amid increasing reliance on digital banking, open banking, application programming interfaces (APIs), cloud computing, artificial intelligence and other technology-driven financial services. Under its risk-based cybersecurity framework, the CBN identified cyber threats associated with fintech connections to banks, including fraud, API compromise, unauthorised access, data breaches, privacy violations and regulatory risks. The apex bank also identified specific vulnerabilities linked to open banking, including identity theft,…
The Nigerian Army has redeployed several senior officers to key command and operational positions as part of efforts to strengthen military operations and improve the country’s response to evolving security threats. The changes were approved by the Chief of Army Staff, Lt.-Gen. Waidi Shaibu, and announced in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, on Wednesday. Under the new arrangement, Maj.-Gen. Ibikunle Ajose has moved from the Army Headquarters Department of Army Operations to become the Theatre Commander of the Joint Task Force North-East, Operation HADIN KAI. His predecessor, Maj.-Gen. Abdulsalam Abubakar, has been redeployed…
The naira has strengthened against the British pound, trading at about N1,788 to £1 in the latest foreign exchange market movement. The appreciation represents a positive movement for the Nigerian currency against sterling, amid ongoing fluctuations in the country’s foreign exchange market. The pound-naira exchange rate is closely monitored by businesses and individuals involved in transactions with the United Kingdom, including importers, international students, travellers and Nigerians making payments abroad. The latest movement also comes amid broader efforts to improve liquidity and stability in Nigeria’s foreign exchange market, with market forces and Central Bank of Nigeria policies continuing to influence…
The Federal Government has announced plans to overhaul the accreditation system for Nigeria’s tertiary institutions, warning universities, polytechnics and colleges of education against presenting borrowed staff, equipment or facilities during accreditation exercises. The Minister of Education, Dr Tunji Alausa, said the reform would transform accreditation from an occasional exercise into a continuous, digital and evidence-based quality assurance process. Alausa spoke on Wednesday during the inauguration of a Ministerial Committee on Strengthening Accreditation and Quality Assurance Systems for Tertiary Institutions in Nigeria. He said institutions should no longer be allowed to create a temporary impression of their capacity simply to satisfy…
The National Agency for Food and Drug Administration and Control (NAFDAC) has raised concerns over the growing consumption of alcohol in Nigeria, linking indiscriminate use of the substance to social problems, including banditry. NAFDAC Director-General, Prof. Mojisola Adeyeye, made the remarks during an interview on Channels Television’s Sunrise Daily on Wednesday. Adeyeye said excessive alcohol consumption poses serious risks to vital organs, particularly the brain, kidneys and liver. She also defended NAFDAC’s decision to ban the sale of alcoholic drinks in sachets and PET bottles of less than 200 millilitres, saying the measure was necessary because the availability of such…
Nigerian artificial intelligence researcher Mary Brenda Akoda has been named the 2026 winner of the Nigeria Prize for Science and Innovation (NPSI) for GenScan AI, a technology that uses machine learning to slash MRI scan times by up to 90% without new hardware. Announced at a Lagos press conference on Tuesday, Akoda emerged from a record 237 entries—the highest in the prize’s history—to become its first individual female winner and first millennial laureate. Why GenScan AI stood out GenScan AI (also referred to as GenMRI/C-MORE) applies a one-step consistency model framework to reconstruct MRI images faster while preserving or improving…
The Federal Government has automated the verification and authentication of academic certificates, allowing applicants to complete the process online without visiting the Federal Ministry of Education. The Minister of Education, Dr Maruf Tunji Alausa, announced the development on Tuesday, describing it as a major step towards making the country’s education services faster, more transparent and accessible. Under the new arrangement, Nigerians and other applicants seeking evaluation and authentication of their academic credentials can submit their applications electronically through the ministry’s dedicated platform. The reform is expected to eliminate some of the delays and bureaucratic hurdles associated with the previous process,…