The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR) unchanged at 27%, while adjusting the standing facility corridor to +50/-450 basis points. Cash Reserve Requirements remain at 45% for deposit money banks, 16% for merchant banks, and 75% for non-TSA public sector deposits, with the Liquidity Ratio steady at 30%. CBN Governor Olayemi Cardoso, speaking after the final Monetary Policy Committee (MPC) meeting of 2025, said the decision reflects efforts to sustain disinflation, noting October marked the seventh consecutive month of declining inflation. He attributed the trend to tighter monetary policy, stable exchange rates, improved food…
Author: Reporter
The battle for control of the Peoples Democratic Party (PDP) deepened on Tuesday as allies of the Minister of the Federal Capital Territory, Nyesom Wike, filed a suit at the Federal High Court in Abuja seeking to nullify the party’s recent national convention in Ibadan. The faction, led by acting national chairman Mohammed Abdulrahman and national secretary Samuel Anyanwu, is asking the court to declare the November 15–16 convention invalid and to restrain the Independent National Electoral Commission (INEC) from recognising its outcomes, including newly elected officers and disciplinary actions. In case number FHC/ABJ/CS/2501/2025, the plaintiffs argue that the convention…
Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, has reaffirmed the commission’s zero-tolerance stance on election malpractice, declaring that combating rigging and vote-buying is now “non-negotiable.” Speaking at INEC headquarters on Tuesday during the swearing-in of Prof. Adeniran Tella as the Resident Electoral Commissioner (REC) for Oyo State, Amupitan stressed that the credibility of Nigeria’s elections is the bedrock of its democracy. Amupitan, who assumed leadership of INEC in October, described the ceremony as a solemn occasion and a reminder of the weight of responsibility carried by electoral officers. “This is a profound responsibility, placing you at…
ABUJA Presdient Bola Ahmed Tinubu has ordered a 24-hour security cordon around forests in Kwara, Kebbi and Niger states, to link up with the boots on the ground, following a surge in kidnappings and terrorist activities. His directive came as over 20 persons, including a pregnant woman, nursing mothers and children, were abducted Monday evening in a fresh attack on Isapa, a community just five kilometres from Eruku, in Kwara State. Special Adviser to the President on Media and Public Communication, Sunday Dare, who disclosed this via a post on his X handle yesterday, said the President ordered the Nigerian…
Lagos State governor Babajide Sanwo-Olu, on Tuesday laid before the Lagos State House of Assembly a ₦4.237 trillion spending plan for 2026, describing it as a “Budget of Shared Prosperity” designed to strengthen infrastructure, expand social services, and deepen economic resilience. The presentation, which began shortly after 1 p.m., drew a full house of dignitaries including members of the state executive council, local government chairmen, and traditional rulers. Security was visibly tight around the Assembly complex, with police, civil defence, and neighbourhood safety officers manning entry points. Key highlights of the appropriation bill include: Projected Revenue: ₦3.99 trillion (₦3.12 trillion…
ABEOKUTA As the political atmosphere in Ogun State gradually heats up ahead of the 2027 governorship election, Senator Solomon Olamilekan Adeola, also known as YAYI, has been described as the true symbol of unity and progress for the Gateway State. Speaking emphatically on the matter at the weekend, an Ogun APC chieftain, Olootu Bolaji Adeniji, noted that YAYI’s unique heritage and proven track record makes him the natural bridge between the diverse interests in the state. “Senator Adeola represents the unity of Ogun State in a way no other contender for the plum job does. His paternal roots in Yewa…
In a landslide, the Anambra State Governor, Professor Chukwuma Soludo, weekend, secured his re-election for another term of four years, thus reinforcing the power of incumbency in Nigeria’s electoral system. Although a few governors had failed the re-election test since the nation returned to civil rule in 1999, the power of incumbency has remained a recuring factor in the nation’s electoral process. But the election of Soludo, despite the tension that built up to the exercise, has reaffirmed the myth about the incumbency power as a critical factor in elections in this part of the world. Soludo secured a second…
The Federal Government (FG) has borrowed N17.36 trillion from domestic and foreign sources in the first 10 months of this year. This represents N6.06 trillion (55.6 per cent) in excess of the N10.9 trillion stipulated in the 2025 Appropriation Act on 10 months prorate bases. The total borrowing in 2025 approved budget is N13.08 trillion for the entire fiscal year. The breakdown of the 2025 borrowings so far shows a N15.8 trillion from domestic sources as at October 2025 and N1.56 trillion from the external sources as at first half of 2025. Ads by Meanwhile, the FG last week initiated…
Operatives of the National Drug Law Enforcement Agency, NDLEA, have arrested a notorious drug lord, 40-year-old Yussuf Abayomi Azeez, at Murtala Mohammed International Airport, Lagos, as he attempted to board a flight to Saudi Arabia for Umrah. The arrest capped months of intensive surveillance on his illicit operations. NDLEA spokesman Femi Babafemi revealed that Azeez, previously arrested and charged in the United Kingdom, had jumped bail and fled to Nigeria. ‘How can I raise N474m? But everyday is torture’, cries Amirah, acid attack victim0:01 / 1:00 “After settling in Lagos, he established a massive clandestine laboratory in Lekki for producing…
The Economic and Financial Crimes Commission (EFCC) has returned a bank draft of N42.5 million to Mrs. Margret Odofin, a 70-year-old widow and retiree, after recovering funds fraudulently taken from her by her account officer. In a statement released on its official X handle on Friday, the commission confirmed that the money was misappropriated by Mrs. Kehinde Yusuf, an account and investment officer at a new-generation bank. The restitution was carried out on Thursday at the Kaduna Zonal Directorate of the EFCC, where Acting Director Bawa Kaltungo presented the draft on behalf of the commission’s Executive Chairman, Ola Olukoyede. Odofin…