The Central Bank of Nigeria (CBN) has allotted N2.628 trillion in Open Market Operations (OMO) bills, exceeding its initial N2 trillion offer by N628.52 billion, as yields rose on both instruments at its October 22 auction. The allotment represented an oversubscription of 31.43 per cent relative to the initial offer, with investors submitting bids worth N2.728 trillion. The outcome suggests that the CBN continues to rely on OMO instruments to manage banking-system liquidity despite its recent reduction in the benchmark interest rate. The 180-day bill attracted the stronger demand, drawing subscriptions of N1.853 trillion against an offer of N1 trillion.…
Author: Abdoulaye Kay
Credit to the Nigerian government rose by 63.09 per cent year-on-year to N39.40 trillion in September 2026, while lending to the private sector declined marginally, according to the Central Bank of Nigeria’s latest money and credit statistics. Government credit increased by N15.24 trillion from N24.16 trillion in September 2025. The latest figures also showed a sharp monthly rebound, with credit to government rising by N6.36 trillion, or 19.26 per cent, from N33.04 trillion in August. The increase contrasts with developments in private-sector lending, which fell by 0.64 per cent to N83.93 trillion in September from N84.47 trillion in the preceding…
Interest rates on key Nigerian financial instruments remain above 17 per cent despite the Central Bank of Nigeria’s September decision to cut its benchmark rate by 350-basis points, indicating that the policy easing has yet to translate into a sustained decline in market yields. The CBN reduced the Monetary Policy Rate from 26.5 per cent to 23 per cent, but yields on its Open Market Operations bills and Federal Government bonds remain relatively high, offering banks continued opportunities to earn substantial returns on their investments. At the October 22 OMO auction, the apex bank allotted N2.628 trillion in bills against…
Central Bank of Nigeria (CBN) bills held by money-holding sectors surged to N5.60 trillion in September 2026 from just N9.68 billion in August, accounting for 74.4 per cent of the monthly increase in Nigeria’s broad money supply. CBN monetary statistics show that broad money supply, measured by M3, rose by N7.51 trillion to N146.60 trillion during the month, while the sharp increase in CBN bills contributed approximately N5.59 trillion to the expansion. The figures highlight a significant change in the composition of the country’s monetary aggregates, with CBN bills accounting for most of the reported monthly growth. However, the increase…
Former President of the Nigeria and African Union of Journalists, Lanre Ogundipe, has urged the court handling the case of Kaduna journalist Farida Isiak to guarantee her right to a fair hearing as fresh proceedings resume on November 3. Ogundipe said the proceedings must comply fully with due process, stressing that Isiak, who has been released on bail following the setting aside of her earlier conviction, must be given adequate legal representation and a fair opportunity to defend herself. Isiak, 23, a journalist with Nagarta Radio, was arrested over a Facebook post concerning the reported treatment of her parents by…
The Sokoto State Government has reaffirmed its commitment to reducing poverty and improving residents’ welfare, with the 23 local government areas expected to create dedicated budget lines for social protection programmes. The Commissioner for Budget and Economic Development, Dr. Bashir Muhammad Achida, disclosed this at a one-day policy dialogue on social protection financing involving the 23 local government chairmen. Achida said the state government was strengthening its social protection framework to improve implementation and ensure vulnerable residents benefited from programmes designed to enhance their living conditions. He said the ministry had developed a Social Protection Policy Document to guide interventions…
Sokoto State has emerged as Nigeria’s leading subnational contributor to digital literacy, recording 58,573 beneficiaries under the Federal Government’s Digital Literacy for All (DL4ALL) initiative. The state also received the Sub-National Digital Transformation and Institutional Leadership Award at a digital literacy workshop organised by the National Information Technology Development Agency (NITDA) in Abuja. Data presented at the workshop ranked Sokoto ahead of the Bureau for ICT and Digital Economy, which recorded 56,582 beneficiaries, Jigawa State with 52,814, Kaduna AGILE with 45,758 and Zamfara State with 24,691. The recognition highlights Sokoto’s efforts to expand digital skills development and technology-driven opportunities under…
The African Democratic Congress (ADC) Presidential Campaign Council has challenged President Bola Tinubu’s administration to account for the ₦10 billion reportedly earmarked for Ebola emergency preparedness, following a confirmed case in Abuja. The council questioned why the funds remained unused, according to the ruling All Progressives Congress (APC), despite the Presidency’s announcement in June that Tinubu had ordered their immediate release. In a statement issued on Friday, October 23, 2026, by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, said the government must publish records showing whether the money was released, where it was held and…
This statement is issued on behalf of the family of Aare Rasaq Okoya regarding some online publications concerning the Patriarch of the family. The Okoya family finds it regrettable that Fatai Okoya (who is in fact the third child of Aare Rasaq Okoya, CON) has dragged what are otherwise private family matters into the public domain in order to attract public sympathy, gain attention and unjustifiably discredit other family members. Fatai Okoya had fallen out with his father and stopped coming to see him long before his father’s marriage to Chief Mrs. Shade Okoya, MON. Aare Rasaq Okoya, CON has…
The African Healthcare Association (AHA) will convene its inaugural pan-African healthcare conference in Accra, Ghana, on December 18–19, 2026, to promote clinical collaboration, medical innovation and stronger healthcare delivery across the continent. The conference, scheduled for the Marriott Hotel Accra under the theme, “Global Innovation, African Implementation,” will bring together clinicians, researchers, healthcare leaders, innovators and industry partners to explore practical solutions to Africa’s healthcare challenges. AHA Chief Executive Officer Dr Alima Tchafa said the conference comes at a time when African health systems need to strengthen local capacity, expand access to medical expertise, and build partnerships that turn research…