The British pound remained relatively stable against the Nigerian naira at about N1,837 to £1 as the local currency continues to maintain its recent stability in the foreign exchange market. Latest data from the Central Bank of Nigeria (CBN) showed that the pound-to-naira exchange rate has recorded only modest movements, with the currency trading within a range of approximately N1,805 to N1,875 per pound over the past 30 days. The naira has also remained firm against the US dollar, with the dollar trading around N1,360 in the Nigerian Foreign Exchange Market (NFEM). The relative stability comes amid efforts by the…
Author: Abdoulaye Kay
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered cases of alleged manipulation of government payroll systems, including an official who enrolled 14 members of his family as government workers. The ICPC Chairman, Musa Aliyu, SAN, disclosed this on Thursday in Abuja while delivering the keynote address at the 2026 Economic Confidential Lecture and National Spokespersons Award organised by Image Merchants Promotions Limited. Aliyu said investigations by the commission into ghost workers had revealed how individuals manipulated payroll systems to receive multiple salaries from government. According to him, one official enrolled 14 members of his family on…
The Nigerian Governors’ Forum has reaffirmed all 36 state governors’ commitment to making Early Childhood Development a strategic priority in Nigeria’s human capital agenda. The forum said the success of national ECD policies will depend on how strongly states and local governments translate them into practical programmes. State action focus Speaking at the North-West Zonal Consultative Workshop on Early Childhood Development, the NGF Secretariat said investing in the first five years of life is critical to health, learning, cognitive development and future productivity. It said ECD should be treated not just as a social intervention, but as a development and…
The National Hajj Commission of Nigeria (NAHCON) has officially approved five air carriers to transport Nigerian pilgrims for the 2027 Hajj exercise, following a rigorous vetting process. According to an official circular issued by NAHCON management, the selected air carriers are: Air Peace Limited Flynas Max Air Limited Saudi Air UMZA Aviation Services Limited Selection criteria and regulatory mandates The commission confirmed that the airlines were chosen following an evaluation by the Aviation Screening Committee, which assessed applicants based on regulatory safety compliance, operational capacity, and financial stability. Final clearance remains subject to the execution of airlift agreements with NAHCON,…
The naira strengthened further against the US dollar at the Nigerian Foreign Exchange Market (NFEM), closing at N1,360.15/$ on Wednesday, its strongest level since June 16, 2026. Data from the Central Bank of Nigeria (CBN) showed that the local currency appreciated by N4.85 from the N1,365/$ recorded on Tuesday, representing a 0.36 per cent gain. (Nairametrics) The latest appreciation extends the naira’s recovery after coming under pressure during much of July, with the currency now trading below most of the levels recorded last month. The naira has gained N21.35, or 1.55 per cent, from the N1,381.50/$ recorded on July 17.…
The Central Bank of Nigeria (CBN) has relaxed restrictions governing access to its Discount Window, allowing financial institutions participating in the Nigerian Foreign Exchange Market (NFEM) and primary government securities auctions to access central bank liquidity facilities. The changes are contained in a circular dated August 12, 2026, titled Review of Discount Window Restrictions and Open Market Operations Participation Framework, signed by Okey Umeano, Acting Director, Financial Markets Department. The directives took effect immediately. Under the revised framework, participation in the NFEM will no longer prevent an institution from accessing the CBN’s Discount Window, which includes facilities such as the…
Foreign exchange turnover on the Nigerian Foreign Exchange Market (NFEM) dropped sharply to $184.99 million on Tuesday, August 11, 2026, its lowest level in 11 weeks, as trading activity weakened significantly. Data from the Central Bank of Nigeria (CBN) showed that turnover declined by about $461.5 million from the $646.51 million recorded on Monday, representing a drop of more than 71 per cent. The latest figure is the lowest NFEM turnover recorded since May 25, when transactions stood at $175.34 million. Despite the sharp decline in market activity, the naira weakened only marginally against the dollar, closing at N1,365 per…
The Nigeria Data Protection Commission (NDPC) says it has commenced a forensic investigation into the University of Lagos (UNILAG), Lotus Bank and Hackerbella Ltd over alleged violations of data protection laws. The commission’s Head of Legal, Enforcement and Regulations, Mr Babatunde Bamigboye, disclosed this in a statement on Wednesday in Abuja. Bamigboye explained that the investigation followed public complaints alleging that students’ personal data were used to open bank accounts without a lawful basis. He said the National Commissioner of the NDPC, Dr Vincent Olatunji, directed the investigation team to conduct a comprehensive assessment of the circumstances surrounding the collection,…
The University of Benin Teaching Hospital (UBTH) has increased the capacity of its mortuary from 72 to 460 chillers and introduced numbered compartments for improved identification and storage of bodies. The Chief Medical Director (CMD) of UBTH, Mrs Idia Ize-Iyamu, disclosed this at a news conference on Wednesday in Benin after a facility tour of the hospital. Ize-Iyamu said the renovated mortuary was also equipped with modern stretchers and other facilities to improve the handling and storage of bodies. She said the hospital had constructed a new Multi-Faith Centre to provide a convenient place for people to perform interment rites…
Osun State Governor and Accord Party governorship candidate, Ademola Adeleke, says he is not intimidated by the support of the Federal Government and some state governors for the All Progressives Congress (APC) candidate, Munirudeen Oyebamiji. Adeleke said the political backing for his major opponent would not determine the outcome of the August 15 governorship election, insisting that the electorate would ultimately decide who wins. The governor spoke on Tuesday during an Arise News town hall meeting in Osogbo attended by leading candidates in the election. Reacting to the campaign activities of governors supporting Oyebamiji, Adeleke described himself as a “bulldozer”…