In April 2026, the Central Bank of Nigeria (CBN) collaborated with the Financial Markets Dealers Association (FMDA) to introduce the Nigerian Overnight Financing Rate (NOFR), a new transaction-based benchmark for the money market. NOFR replaces the old Nigerian Inter-Bank Offered Rate (NIBOR), which many criticised for lacking transparency because it relied on quote-based submissions. Unlike NIBOR, which required banks to submit estimated rates, NOFR calculates based on actual overnight transactions between banks and other financial institutions. This approach makes it more reliable, harder to manipulate, and better at reflecting the true cost of short-term borrowing in Nigeria. Aligning the market with global best practices The move aligns…
Author: Newsdesk
The 2026 Global Report on Food Crises warns that drought and shrinking aid will keep global hunger at critical levels in 2026. The report says food insecurity is expected to worsen in some of the world’s most fragile countries. The 10th edition of the hunger monitor, published by a coalition of development and humanitarian organisations, reveals that acute hunger has doubled over the past decade, with two famines declared in Sudan and Gaza in 2025. In total, 266 million people in 47 countries and territories faced high levels of acute food insecurity in 2025, while 1.4 million people experienced catastrophic…
Mr. Sule Abdulaziz, Managing Director of the Transmission Company of Nigeria (TCN), has pledged to make bulk power delivery more viable, reliable, and beneficial for all Nigerians. Abdulaziz made the pledge in a statement issued by Ndidi Mbah, TCN’s General Manager, Public Affairs. He also assured that the transmission network would be made more reliable. He spoke during his first town hall meeting with TCN staff following his reappointment by President Bola Tinubu for a second five-year term. Abdulaziz described his reappointment as a call to greater responsibility, noting that it aligns with the President’s Renewed Hope Agenda for the…
Researchers warn that overfishing and environmental change are eroding the biological foundations of many fisheries. A new analysis reveals a global decline in fish growth over the last century. Scientists from Australia’s James Cook University (JCU) analyzed nearly 7,700 growth records covering 1,479 marine species from 1908 to 2021. The study found that growth performance has declined since around 1908, with the greatest reductions among commercially valuable species, according to a recent university statement. Helen Yan, who led the study as part of her PhD program at JCU, said human-driven pressures are causing large-scale changes in the ecologies and life…
As of 2024, HPV vaccines have prevented nearly one million cervical cancer deaths in 29 African countries, while the malaria vaccine—now used in 25 countries—is already reducing severe illness and hospitalisations. This assessment comes from Gavi, the Vaccine Alliance, and the WHO Africa Region, released ahead of African Vaccination Week (April 24–30) and World Malaria Day (April 25). Since 2000, routine immunisation schedules in Africa have expanded from eight to 13 vaccine-preventable diseases. Vaccines such as HPV and malaria are now providing critical protection for children, young girls, and women. Recent HPV campaigns in Nigeria, Ghana, Ethiopia, and Angola reached…
Senior Advocate of Nigeria, Femi Falana, has called on the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), to exercise his constitutional powers under Section 174 by terminating what he described as an “illegal charge” against 36 alleged coup plotters currently before a General Court Martial. In a statement made available to journalists, Falana argued that the Attorney-General should discontinue the proceedings before the military court and instead arraign the accused officers before the Federal High Court. “I am compelled to call on the Attorney-General of the Federation and Minister of Justice to exercise his powers under…
The National Working Committee (NWC) of the All Progressives Congress (APC) has revised its timetable for the 2027 general elections, rescheduling the party’s presidential primary to May 23. The adjustment was announced on Thursday in Abuja by the party’s Deputy National Publicity Secretary, Duro Meseko, following the 186th NWC meeting. Meseko said the presidential primary, initially slated for May 15, will now be held on Saturday, May 23, alongside other updated dates in the party’s election calendar. ALSO READ PDP unveils 2027 election timetable, form fees He confirmed that the sale of Expression of Interest and Nomination forms remains open…
The Centre for Information Technology and Development (CITAD) has called for increased participation of girls in the digital space. The Executive Director of CITAD, Mr. Yunusa Zakari-Ya’u, made the call on Thursday in Kano while commemorating International Girls in ICT Day 2026. Zakari-Ya’u, represented by Mr. John Otaro, CITAD’s Monitoring and Evaluation Officer, said the event aimed to empower young girls with digital knowledge and skills. He stressed the need for inclusiveness in technology, noting that girls must seize opportunities in the digital world. “Technology is for everyone. We encourage young girls to actively participate, build confidence, ask questions, and…
The Nigerian Communications Commission (NCC) says telecom operators will upgrade 12,000 base stations in 2026 and begin compensating subscribers for poor service. The Executive Vice-Chairman of NCC, Dr. Aminu Maida, made the announcement during a breakfast meeting with the media on Thursday in Lagos. Maida said the planned infrastructure expansion is a major step in addressing persistent network quality and capacity challenges across the country. He noted that the industry made limited progress in 2025, with just over 300 base station upgrades, contributing to service pressure amid rising data demand. According to him, the sector has already recorded improved momentum…
The Lagos State Environmental Protection Agency (LASEPA) has intensified efforts to tackle the growing challenge of electronic waste (e-waste), particularly from off-grid renewable energy systems. The General Manager of LASEPA, Dr. Tunde Ajayi, said this during a strategic meeting with the E-waste Producers Responsibility Organisation of Nigeria (EPRON) and the agency’s Sustainability Unit. Ajayi shared the update on his verified X account on Thursday in Lagos. He said the engagement focused on strengthening data systems, enforcement mechanisms, and capacity building across the e-waste value chain. “Consistent data gathering and sharing are critical to driving investment and informed decision-making in the…