Burkina Faso has proposed high-level bilateral talks with Nigeria to review existing areas of cooperation and identify new partnership opportunities, in a move aimed at strengthening diplomatic ties between the two West African countries. The proposal was made in Ouagadougou on Friday when Nigeria’s newly appointed Ambassador to Burkina Faso, Ambassador Syndoph Endoni, presented his Letter of Credence. Burkina Faso’s Minister of Foreign Affairs, Jean-Marie Traoré, received the Nigerian envoy and described his assumption of duty as an opportunity to reinforce the longstanding relationship between both countries. Traoré highlighted the shared history, African heritage and common regional challenges linking Nigeria…
Author: Abdoulaye Kay
The Central Bank of Nigeria (CBN) withdrew N4.72 trillion from the banking system through four Open Market Operations (OMO) auctions conducted on August 26 and 27, 2026, as investors continued to show strong appetite for high-yielding government securities. The short-dated instruments offered by the apex bank attracted yields of almost 20 per cent, with total subscriptions reaching N8.62 trillion against a combined offer of N2 trillion. The development underscores the strong demand for fixed-income instruments amid the prevailing high-interest-rate environment. The four OMO auctions covered maturities of 96, 97, 132 and 152 days. The 97-day instrument offered on August 26…
The naira strengthened further against the US dollar at the Nigerian Foreign Exchange Market (NFEM), closing at N1,337/$ on Friday, August 28, 2026. The latest appreciation represents a 0.96% gain from the N1,349.99/$ recorded at the previous trading session on August 24, according to data from the Central Bank of Nigeria (CBN). The development came as foreign exchange turnover in the official market declined sharply during the week. NFEM turnover fell by 48.7% week-on-week to $2.71 billion, compared with about $5.28 billion recorded between August 17 and 21. Trading opened on August 24 at N1,349.99/$ before the naira strengthened to…
The Acting Vice-Chancellor of the Abdullahi Fodio University of Science and Technology (AFUST), Aliero, Kebbi State, Prof. Ismaila A. Mungadi, has resigned from office, citing recent developments that have made it difficult for him to effectively discharge his mandate. Mungadi announced his resignation in a letter dated August 28, 2026, addressed to the Pro-Chancellor and Chairman of the University’s Governing Council. In the letter titled “Resignation from Appointment as Acting Vice-Chancellor, Abdullahi Fodio University of Science and Technology, Aliero,” the professor said his resignation would take effect from Friday, August 28. He explained that he accepted the appointment with a…
President Bola Ahmed Tinubu has directed a comprehensive reform of Nigerian football following a series of disappointing performances and failures by the country’s national teams to qualify for major regional, continental and global competitions. The directive came amid a major leadership crisis at the Nigeria Football Federation (NFF), following the resignation of NFF President Ibrahim Gusau, General Secretary Mohammed Sanusi and members of the federation’s Executive Committee on Thursday. According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu said the reform was necessary to address longstanding structural weaknesses in the…
Pro-Biafra separatist campaigner, Simon Ekpa, has appealed the six-year prison sentence handed down to him by a Finnish court over terrorism-related offences. The Finnish prosecutor handling the case has also appealed the judgment, asking the Court of Appeal to impose a longer prison term on Ekpa, arguing that the sentence handed down by the lower court was inadequate for the offences committed. The Finnish Court of Appeal is expected to consider both appeals within the next three weeks. Ekpa was arrested by Finnish authorities in November 2024 and subsequently charged with participating in the activities of a terrorist group and…
The Northwest University, Sokoto (NWUS) has warned prospective students, parents and guardians against a fraudulent admission notice circulating online and across social media platforms, claiming that the institution has released its 2026/2027 first and second batch admission lists. The University, in a statement issued by the Directorate of Communications, Public Affairs and Protocol, on Thursday, August 27, 2026, said the fake notice provides a telephone number, 07073682223 and identifies an individual as “Dr Mrs Mary”, allegedly directing applicants to check their admission status, process clearance, pay school fees and secure admission in subsequent batches. NWUS described the notice as fraudulent…
Nigeria’s currency in circulation increased by 72.4 per cent between 2021 and 2025, reaching N5.73 trillion, even as the Central Bank of Nigeria (CBN) continues to promote electronic payments and a cashless economy. CBN data cited in a recent analysis showed that currency in circulation rose from N3.325 trillion in 2021 to N5.733 trillion in 2025. The figure fell to N3.011 trillion in 2022 before rising to N3.653 trillion in 2023, N5.441 trillion in 2024 and N5.733 trillion in 2025. The CBN attributed the increase largely to expanding economic activity and rising demand for cash. It also approved a currency…
Strong investor demand for Nigerian Treasury bills drove yields lower at the Central Bank of Nigeria’s (CBN) latest primary market auction, with the one-year bill rate dropping to 17.15 per cent despite the apex bank offering a larger volume of securities. The CBN offered a total of N700 billion across the 91-day, 182-day and 364-day tenors during the auction, but demand significantly outpaced supply as investors submitted bids worth about N1.5 trillion. The heavy oversubscription prompted the bank to reduce stop rates on the longer-dated instruments. The 364-day Treasury bill recorded the strongest interest from investors, attracting the bulk of…
Four residents of Gorau community in Goronyo Local Government Area of Sokoto State have been killed, while seven others sustained gunshot injuries after armed bandits attacked the community. The assailants also abducted four residents during the attack, which occurred on Wednesday, throwing the community into panic and forcing residents to flee for safety. According to residents, the attackers invaded the community and opened fire, killing four people and leaving seven others wounded. The injured victims were subsequently taken to hospital for medical treatment. The bandits also took four residents away before fleeing the community with their captives. The latest attack…