Nigeria’s gross external reserves rose to $49.49 billion as of May 15, 2026, recovering from $48.35 billion recorded at the end of March and signalling renewed strength in the country’s foreign exchange position. Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, disclosed this on Wednesday while presenting the outcome of the Monetary Policy Committee (MPC) meeting in Abuja. The increase comes amid efforts by monetary authorities to maintain exchange rate stability, manage liquidity, and meet external obligations. According to Cardoso, the current reserve level is sufficient to cover more than nine months of imports of goods and services,…
Author: Newsdesk
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has dismissed claims that the apex bank has been aggressively intervening in the foreign exchange (FX) market to support the naira, stating that its interventions accounted for only about 1.2 to 1.3 per cent of total FX market turnover in 2025. Cardoso clarified on Wednesday during a press briefing in Abuja following the conclusion of the 305th meeting of the Monetary Policy Committee (MPC). Responding to questions on whether the CBN had intensified interventions amid recent pressure on Nigeria’s external reserves, the governor said such claims were inaccurate. “The answer…
Nigerian artistes Davido, Falz and other celebrities have celebrated Arsenal’s historic English Premier League (EPL) title win after 22 years. The title was confirmed after Manchester City drew at Bournemouth on Monday. The long-awaited triumph has triggered massive reactions from Nigerian entertainment icons and political figures on social media. Davido led the celebration with a post on his X page: “BACK A GUNNER!!!” READ ALSO: Wizkid becomes first African artist to surpass 11bn Spotify streams However, the declaration drew light-hearted mockery from rival fans who questioned his silence during the club’s trophy drought. Other celebrities who joined the frenzy include…
The Federal Capital Territory Administration (FCTA) has inaugurated a free health insurance enrolment and comprehensive medical outreach for inmates in correctional facilities across the FCT. A statement issued by Mrs. Bola Ajao, Special Assistant on Media to Dr. Adedolapo Fasawe, Mandate Secretary of the FCTA Health Services and Environment Secretariat (HSES), said the exercise began at the Medium Security Custodial Centre, Kuje, Abuja. Fasawe said the exercise marked the first time inmates in the FCT were formally enrolled into the FCT Health Insurance Scheme (FHIS) under the Basic Healthcare Provision Fund (BHCPF). According to her, the initiative was driven by…
The Chief of the Air Staff (CAS), Air Marshal Sunday Aneke, has reaffirmed Nigeria’s commitment to advancing African-led security cooperation after chairing the 2026 African Air Chiefs’ Symposium in Tunis, Tunisia. This was contained in a statement issued by the Director of Public Relations and Information, Nigerian Air Force (NAF), Air Commodore Ehimen Ejodame, on Wednesday in Abuja. Speaking at the opening session, Aneke said the theme, “Operationalising the Association of African Air Forces: A New Era of Shared Responsibility,” highlighted the urgency for African nations to adopt collective and practical solutions to shared security challenges. He stressed that no…
The Bureau of Public Procurement (BPP) has temporarily lifted the suspension placed on some directorate cadre officers on Salary Grade Levels 15 to 17 over non-compliance with deployment directives. This was contained in a statement issued by Zira Nagga, Head of Press and Public Relations of the bureau, on Wednesday in Abuja. The statement named the affected officers as Mrs. Okobiah Boyton, Director of Procurement, Federal Ministry of Communications and Digital Economy, and Mrs. Habu Dyaji, Director of Procurement, Federal Ministry of Housing and Urban Development. According to the statement, the officers were earlier issued queries for allegedly refusing to…
Nigeria’s Federal Civil Service has achieved a historic transition to a fully paperless and digital operation across all 38 Federal Ministries and Extra-Ministerial Departments, ahead of the December 31, 2025 deadline. The Head of the Civil Service of the Federation (HoCSF), Dr. Didi Walson-Jack, made the announcement at the opening of the International Civil Service Conference (ICSC) 2026 on Wednesday in Abuja. The conference, themed “Reforms, Resilience and Results,” attracted participants from 16 countries, including the United States, United Kingdom, Switzerland, Singapore and Ghana. According to her, over 5,000 participants attended physically, while thousands joined virtually. She said the conference…
The Civil Society for Scaling Up Nutrition in Nigeria (CS-SUNN), Benue Chapter, has advocated the creation of a child nutrition fund in Benue State to ensure sustainable financing for nutrition interventions. The Benue Coordinator of CS-SUNN, Mrs Rachel Ityohzughul, made the call during a courtesy visit to the Benue State Ministry of Women Affairs and Social Welfare to strengthen collaboration on policies aimed at improving maternal and child nutrition. Ityohzughul said the fund would particularly support vulnerable women and children in communities across the state. She commended the ministry for its continued commitment to the welfare of women and children…
Samia Suluhu Hassan has called for stronger cooperation among African countries and international partners to advance the peaceful and sustainable development of nuclear energy. Hassan made the call at the Nuclear Energy Innovation Summit for Africa 2026 in Kigali. She described the summit as an important platform to help Africa move “from ambition to implementation” in developing reliable and sustainable energy systems. The Tanzanian president said Africa’s economic transformation depended on affordable and sustainable energy capable of supporting industrialization, mining, transport modernization and digital infrastructure development. She also said that Tanzania’s growing electricity demand, driven by industrial expansion, urbanization and…
The Acting Permanent Secretary of the Kano State Ministry of Planning and Budget, Abdul Ajumawa, has reaffirmed the state government’s commitment to working with development partners to improve nutrition and food security for women and children. This was contained in a statement issued to journalists on Wednesday in Kano by the ministry’s Director of Special Assignments, Halima Ahmad-Ishaq. Ajumawa said the ministry, in collaboration with UNICEF’s Kano Field Office, convened a review and coordination meeting of the State Committee on Food and Nutrition (SCFN) to strengthen multi-sectoral action on nutrition and food security. He said the meeting, themed “Strengthening Multi-Sectoral…