The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has confirmed that 14 banks have now fully met the recently increased regulatory capital requirement. He made the disclosure on Tuesday in Abuja during a press conference held after the Monetary Policy Committee (MPC) meeting. Cardoso described the banking sector as resilient, noting that most financial soundness indicators remain within projected benchmarks. He said the MPC also acknowledged significant progress in the ongoing bank recapitalisation exercise and urged banks to sustain efforts toward its successful completion. ALSO READ Six months to go, only 6 banks meet recapitalisation target [SEE…
Author: Abdoulaye Kay
Sen. Natasha Akpoti-Uduaghan on Tuesday regained access to her office at the National Assembly Complex after serving a six-month suspension, insisting she would not apologize to the Senate. Speaking with journalists, the Kogi Central lawmaker described her suspension as an injustice, stressing that any demand for an apology was unlawful. “I read in the papers that the minority leader, Sen. Abba Moro, upon resumption on October 7, would read a motion calling on me to apologize. But you can’t apologize for an injustice. If that is the condition for reopening my office, then we have a long dance to go,”…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced the training of its staff on a new Performance Management System (PMS) as part of efforts to drive digital transformation and improve service delivery. Chairman of the Commission, Dr. Mohammed Bello Shehu, OFR, reaffirmed RMAFC’s commitment to embracing digital tools to replace outdated processes. Represented by Ismail Mohammed Agaka, Federal Commissioner representing Kwara State, Dr. Shehu said the new PMS would take over from the old annual performance evaluation report, ensuring efficiency, accuracy, and transparency. He urged staff to embrace the reforms, noting that the shift from analog to digital…
Rivers State Governor, Siminalayi Fubara, has returned to Port Harcourt, the state capital, after six months away from governance under the emergency rule imposed by President Bola Tinubu. Fubara’s aircraft touched down at the Port Harcourt International Airport at exactly 12:19 p.m. on Friday, more than 24 hours after President Tinubu announced the end of the emergency rule in the oil-rich state. A jubilant crowd of supporters, party loyalists, and traditional leaders thronged the VIP wing of the airport to receive him, chanting solidarity songs and displaying banners that celebrated his return. The governor’s absence from public view since March…
Paradigm Initiative (PIN), a pan-African NGO, has urged stricter enforcement of existing laws and greater government commitment to safeguarding Nigerians’ data and digital rights. The organisation’s Executive Director, Mr. Gbenga Sesan, made the call on Thursday in Abuja while presenting a report on the state of digital rights and inclusion in Nigeria. Sesan expressed concern that despite the enactment of the Data Protection Act of 2023, enforcement has remained weak, leaving citizens’ personal data exposed. He noted that for three consecutive years, sensitive information — including National Identification Numbers (NINs), Bank Verification Numbers (BVNs), and even details of high-profile political…
Tension has continued to mount in Rivers State as uncertainty surrounds the whereabouts of Governor Siminalayi Fubara, who is yet to officially resume duties following the lifting of the six-month emergency rule in the state. Former governor and current Minister of the Federal Capital Territory (FCT), Nyesom Wike, disclosed that he spoke with Fubara before the emergency order was lifted. According to Wike, the governor assured him that he would return to office the following morning. “I spoke with him yesterday, and he told me he would be back today. Whether he has resumed or not, I can’t say,” Wike…
The Dangote Petroleum Refinery has reaffirmed its opposition to the subsidy request by the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), describing the call for an annual ₦1.505 trillion subsidy as both unfair and unsustainable. In a statement issued on Wednesday, September 17, 2025, and published in several national dailies, the refinery explained that DAPPMAN’s demand stems from its insistence on a ₦75 per litre adjustment for coastal logistics and pumping expenses. Dangote argued that this effectively amounts to pushing the refinery to absorb costs and transfer them to Nigerian consumers. “Marketers are demanding that we discount ₦70…
The National Hajj Commission of Nigeria (NAHCON) says all refunds from the 2025 Hajj have been fully settled, dismissing reports of delays in preparations for the 2026 exercise. In a statement on Tuesday, NAHCON spokesperson Shafii Mohammed said 19 states that requested reconciliation had been paid, while refunds from earlier years were also cleared except for states yet to initiate the process. “With these matters resolved, NAHCON is now focused on the 2026 Hajj,” he said. The commission urged state Muslim pilgrims’ boards and licensed tour operators to ensure early remittance of fares, stressing that timely payment is crucial to…
Dr. Nwamaka Okafor, a Nigerian postdoctoral researcher at Argonne National Laboratory in the U.S., has urged the Federal Government to embrace Artificial Intelligence (AI) and Internet of Things (IoT) technologies to transform agriculture and boost food security. Speaking at the ongoing Heidelberg Laureate Forum in Germany, Okafor said deploying smart and automated systems in farming would help Nigeria move from a consumption-driven economy to a production-focused one. Her project, “Empowering Agriculture through IoT, AI and Citizen Science”, funded by the Heidelberg Laureate Forum Foundation and the Klaus Schirra Stiftung, centred on designing AI-enabled IoT devices for monitoring crop conditions in…
Africa’s richest man, Aliko Dangote, has debunked allegations that his company is attempting to monopolize the downstream oil sector, as the Dangote Group rolled out 4,000 Compressed Natural Gas (CNG)-powered trucks in Lagos. Speaking at the official launch, Dangote said the group has invested over ₦2 trillion in trucks and logistics to ease fuel transportation and improve energy efficiency across Nigeria. He explained that the introduction of CNG trucks was not designed to edge out independent marketers but to stabilize the energy supply chain, reduce costs, and provide reliable alternatives to petrol and diesel. “We are not here to take…