The International Monetary Fund (IMF) has described Nigeria’s recent bank recapitalisation exercise as a timely and strategic move to shield the country’s financial system from mounting global economic shocks. The Fund noted that the policy, driven by the Central Bank of Nigeria (CBN), has significantly strengthened the capital base of banks, enhancing their resilience amid rising global uncertainties, including volatile oil markets, inflationary pressures, and geopolitical tensions. According to the IMF, well-capitalised banks are better positioned to absorb external shocks during periods of financial stress, ensuring stability in the banking sector and supporting broader economic growth. The Fund emphasised that…
Author: Editor
Prof. Adesola Ogidiolu has urged geographers to deploy mapping tools and data-driven approaches to address Nigeria’s worsening forest crisis, stressing that foresters alone cannot tackle the challenge. Ogidiolu made the call on Tuesday while delivering the 18th inaugural lecture of Prince Abubakar Audu University. In his lecture titled *“Geographer in the Forest: Issues, Concerns and Tasks,”* the professor emphasised the urgency of safeguarding forest ecosystems, noting their critical role in sustaining human health and livelihoods. According to him, forests provide essential services, including water storage, energy supply, income generation, and environmental security. He described a healthy forest as one relatively…
The United Nations Children’s Fund (UNICEF) has urged stakeholders to promote and protect child rights in Gombe, Bauchi, and Adamawa states. Dr Nuzhat Rafique, UNICEF Chief of Field Office in Bauchi, made the call at a one-day stakeholders’ engagement on Tuesday in Gombe. She said child rights begin at birth, highlighting the importance of birth registration, breastfeeding, access to quality healthcare, proper nutrition, and basic education. According to Rafique, protecting children from all forms of harm is a fundamental right that parents must recognise. She added that children deserve care and respect, describing them as gifts from God and future…
President Bola Tinubu has approved a cabinet reshuffle that led to the removal of two key ministers, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Housing and Urban Development, Ahmed Musa Dangiwa. The development was confirmed in a statement issued on Tuesday, citing an official memo signed by the Secretary to the Government of the Federation, George Akume. According to the statement, the reshuffle forms part of efforts to reposition the Federal Executive Council and strengthen governance delivery. Following the shake-up, the President appointed Taiwo Oyedele as the new Minister of…
The Independent National Electoral Commission (INEC) said it investigated its chairman, Prof. Joash Amupitan and found him not guilty of the allegation that he tweeted partisan support for Bola Tinubu in the 2023 election cycle. If na you nko? How can you fail an exam you set and graded? How can you find yourself guilty in a court you established, where both the prosecution and the defense lawyers are your appointed minions, and you are the judge? There is a name for what INEC did. Self-exoneration. Some people call it self-exculpation. Others call it self-absolution. It hides behind a blizzard…
The Nigerian stock market opened the week on a positive note, as market capitalisation rose by 0.44 per cent to N140.435 trillion from N139.826 trillion, reflecting a gain of N609 billion. Similarly, the All-Share Index advanced by 946.27 points, or 0.44 per cent, increasing from 217,167.57 to 218,113.84. The upbeat performance was driven by gains in mid- and large-cap stocks such as Nigerian Aviation Handling Company, Union Dicon Salt, Fidelity Bank, Trans-Nationwide Express, Access Corporation, and 31 others. Banking stocks were generally observed to have significantly driven the market. While the year-to-date return rose to 40.16 per cent, market breadth…
The Federal Airports Authority of Nigeria (FAAN) hosted a strategic meeting with the Permanent Secretary, Ministry of Aviation and Aerospace Development, Mr Mahmud Kambari. The high-level engagement was held on Monday at FAAN headquarters in Lagos to strengthen institutional synergy and accelerate aviation sector growth. FAAN Managing Director, Mrs Olubunmi Kuku, gave a detailed briefing on the authority’s operational environment and current priorities. She noted key pressures, including rising energy costs, pension obligations, financial reconciliations, and evolving aviation security demands. Kuku highlighted safety milestones, including the successful recertification of Murtala Muhammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja.…
Gov. Alex Otti of Abia has signed into law the Abia State Centre for the Rehabilitation of Survivors of Rape, Defilement, Domestic Violence and Human Trafficking Bill, 2026. Speaking on Monday while assenting to the bill in Nvosi, Isiala Ngwa South Local Government Area, Otti commended the State House of Assembly for granting it expedited consideration and passing it in record time. He also lauded his wife, Priscilla, for championing the legislation, as well as members of the executive council and the technical team that worked on the bill. Otti recalled the inauguration of the Nchedo Sexual Assault Referral Centre…
The Centre for Democracy and Development (CDD West Africa) has warned that misinformation, disinformation and hate speech pose serious threats to governance, public trust and democratic stability. The Director of CDD West Africa, Dr. Dauda Garuba, stated this on Monday in Abuja during a Project Impact Dissemination on Sustaining Information Literacy and Social Cohesion (StILASC) in Nigeria. Speaking at the end-of-project phase, Garuba said the growing spread of false information was no longer a peripheral issue but a core challenge undermining national stability. He called for sustained efforts to strengthen information literacy and adopt community-driven approaches to promote social cohesion…
The Chief Executive Officer of Innovative Biotech, Dr. Simon Agwale, has called for urgent policy reforms to reposition Nigeria’s pharmaceutical sector for sustainable growth and global competitiveness. Speaking in an interview in Abuja on Monday, Agwale urged the Federal Government to move beyond rhetoric by adopting demand guarantees to stimulate local production and support indigenous manufacturers. “The most important solutions include the use of demand guarantees, not just slogans,” he said. He stressed that Nigeria must advance beyond basic drug formulation and packaging to upstream production, particularly Active Pharmaceutical Ingredients (APIs) and excipients. “Building full value-chain capacity is critical to…