The Central Bank of Nigeria (CBN) recorded a net liquidity withdrawal of N1.569 trillion in May 2026 after draining N7.303 trillion through Open Market Operations (OMO) and primary market activities, while injecting N5.734 trillion via maturing instruments. The move reflects the apex bank’s sustained monetary tightening strategy aimed at reducing excess liquidity and curbing inflationary pressures. CBN financial market data covering May 7 to May 29 showed that OMO operations dominated liquidity management during the month. The largest operation occurred on May 21 when the apex bank conducted a N3.692 trillion OMO auction, fully allotting subscriptions across 33-day and 138-day…
Author: Newsdesk
Nigeria spent $2.34 billion on food imports in 2025, according to the latest Quarterly Statistical Bulletin released by the Central Bank of Nigeria (CBN). The figure represents a 7.37 per cent decline from the $2.53 billion recorded in 2024, indicating a moderation in food-related foreign exchange demand despite the country’s continued reliance on imported food products. The CBN data also showed that the share of food imports in total foreign exchange utilisation dropped significantly from 9.49 per cent in 2024 to 4.97 per cent in 2025. This came as total foreign exchange utilisation rose sharply from $26.65 billion in 2024…
Mr. Akinola Idowu, Chairman of the Orile-Agege Local Council Development Area (LCDA) in Lagos State, has urged residents to embrace the reintroduced monthly environmental sanitation for its numerous benefits. Idowu made the appeal during Saturday’s sanitation exercise at the council’s secretariat. He emphasized that cleanliness is a collective responsibility vital for preventing diseases and promoting healthier communities. Idowu praised residents who participated in the cleanup and urged the adoption of proper waste disposal habits to maintain clean homes, streets, and business premises. He stated that the Lagos State Government’s reintroduction of the program in April demonstrates its commitment to a…
The Lagos State Traffic Management Authority (LASTMA) announced that a single-vehicle accident on the Oshodi-Apapa Expressway resulted in the death of the driver. The General Manager of LASTMA, Mr. Olalekan Bakare-Oki, stated in a release that the accident occurred at Charity Bus Stop inward Iyana Isolo on Saturday morning. Bakare-Oki explained that LASTMA, in collaboration with officers from the Nigeria Police Force, promptly conducted rescue and recovery operations. “Preliminary investigations indicate that the involved Honda Pilot SUV suddenly lost control, overturned multiple times, and came to a stop,” he said. “The impact caused the immediate death of the driver, whose…
The Universal Peace Federation (UPF) has awarded Dr. Boniface Aniebonam, Founder and Chairman of the Board of Trustees of the New Nigeria Peoples’ Party (NNPP), the title of Ambassador for Peace (AFP). The federation stated that the award recognized his efforts in promoting programs and projects aimed at transforming individuals and society, especially youths and families, to foster peace. Dr. George Ikpot, the Secretary-General of UPF, announced this during the presentation of the AFP Awards to the recipients in Abuja. Ikpot said, “We received a recommendation and reports from Amb. Cletus Amaraegbu about your activities and dedicated efforts in promoting…
The Borno government has raised an alarm over a cholera outbreak that has infected over 3,000 people and claimed 37 lives across seven local government areas in the state within May. Dr. Saleh Abba-Kaza, Executive Secretary of the Borno State Contributory Healthcare Management Agency, disclosed this in a public health advisory issued on Saturday in Maiduguri. He urged residents to take urgent preventive measures to curb the spread of the disease. According to him, the outbreak was first reported on May 1 and confirmed on May 4, with cases continuing to rise in affected communities. He stated that more than…
The Nigeria Youths in Politics (NYP), a youth-led organization, has announced plans to induct former Presidents Olusegun Obasanjo and Goodluck Jonathan into its Hall of Fame. Mr. Blessing Oyefeso, the National President of NYP, disclosed this at a news conference in Abuja while unveiling the organization’s Democracy Day Conference, scheduled for June 10, as part of the 2026 Democracy Day celebrations. The conference is themed “Now is the Time: Youths Building a Sustainable Democracy.” Oyefeso explained that the event aims to bridge the gap between generations of leaders and mobilize young Nigerians for active political participation ahead of the 2027…
Technology, wellness, and human-centered design took center stage at the 2026 World Interiors Day celebration organized by the Interior Designers Association of Nigeria (IDAN) on Friday night in Lagos. It was reported that World Interiors Day is observed globally on May 30 to highlight the role of design in creating healthier and more sustainable environments. The event, organized by IDAN, was held under the theme: “Balancing Nature, Culture, and Technology in the Digital Age.” It attracted interior designers, architects, developers, manufacturers, students, and other stakeholders from across the built environment sector. The event emphasized the importance of collaboration among designers,…
A senior medical practitioner, Dr. Leo Odudu, has called on the government to sponsor anti-tobacco campaigns in local languages to help curb tobacco use across the country. Odudu, the Medical Director of Emel Hospital, FESTAC, Lagos, made the call in an interview with reporters in Lagos on Friday ahead of World No Tobacco Day, observed annually on May 31. World No Tobacco Day was established in 1987 by the World Health Organization to raise awareness about the dangers of tobacco use and promote effective tobacco control measures. The 2026 theme, **“Unmasking the Appeal – Countering Nicotine and Tobacco Addiction,”** focuses…
Some residents of Lagos on Saturday called for sustained enforcement of the monthly environmental sanitation exercise to ensure a cleaner and healthier environment across the state. Residents in parts of Surulere participated in the exercise by sweeping roads, clearing blocked drains and disposing of waste at approved collection points. Commercial activities were low during the exercise as movement restrictions imposed by the Lagos State Government were enforced between 6:30 a.m. and 8:30 a.m. Areas monitored included Masha, Kilo, Ogunlana and Lawanson, where sanitation officials and security personnel supervised compliance. Traders and residents were seen cleaning gutters in front of their…