Olayemi Cardoso, governor of the Central Bank of Nigeria
(CBN), says recent monetary and financial sector reforms have strengthened
Nigeria’s ability to withstand external shocks and restored investor
confidence.

In a statement on Wednesday, CBN said Cardoso spoke on
Tuesday at the Africa Capital Forum in London, held on the sidelines of Bola
Tinubu’s state visit to the United Kingdom.

The forum, themed “From Stabilisation to Capital
Mobilisation,” was jointly hosted by the CBN and the UK Foreign, Commonwealth
and Development Office (FCDO).

He said the apex bank has “created stronger capacity to
withstand shocks” through policy tightening and institutional reforms.

The CBN governor said the foreign exchange (FX) market now
operates with improved transparency and liquidity following recent reforms.

According to Cardoso, a new FX manual has removed several
capital control measures and simplified trade and investment processes.

Cardoso added that the bank has finalised a new payments
system vision aimed at strengthening Nigeria’s position in digital and
cross-border payments.

On the banking sector, the apex bank chief said more than 30
banks have met the new capital requirements, while verification is ongoing for
others.

“About 28 percent of investment in the recapitalisation came
from foreign sources,” he said.

Cardoso added that the development reflects renewed
confidence in Nigeria’s financial system.

The governor also noted that diaspora remittances have
increased, contributing to the diversification of the country’s foreign
exchange inflows.

He said inflation has moderated while exchange rate
stability has improved following recent policy measures.

“We will continue to maintain stability, not only on
inflation, but in the FX market, with more transparency and consistent
reporting,” he said.

The CBN governor added that the apex bank will remain
vigilant in managing inflation.

“Our focus going forward is to protect the hard-earned
stability we have accomplished so investors and stakeholders can plan with
confidence,” he said.

Cardoso also emphasised the need for coordination between
monetary and fiscal authorities to sustain economic growth.

He said the inclusion of fiscal authorities in the bank’s
board and monetary policy committee strengthens policy alignment.

The apex bank chief also said the CBN is working with
financial technology firms to address regulatory bottlenecks and support
innovation in digital finance.

He added that ongoing reforms have shifted Nigeria from a
phase of stabilisation to capital mobilisation, positioning the economy for
growth, driven by domestic investment and improved global confidence.

Also at the event, Muhammad Sani Abdullahi, CBN deputy
governor for economic policy, said the apex bank has achieved a significant
level of macroeconomic stability.

“We have seen stability. Net and gross reserves are high,
foreign reserves are over $50 billion, the foreign exchange market has
stabilised, and inflation is falling , but we are cautious,” Abdullahi said.

Philip Ikeazor, CBN deputy governor for financial system
stability, said the reforms are designed to endure beyond the current
administration.

“All the reforms that have been put in place cut across
stakeholders, ensuring that even at the end of this administration, people will
see the need not to reverse them,” Ikeazor said.

‘NIGERIA’S NEXT REFORMS SHOULD FOCUS ON TRANSLATING INTEREST
TO CAPITAL FLOWS’

Jonny Baxter, British deputy high commissioner to Nigeria,
said the next phase of reforms should focus on translating renewed investor
interest into tangible capital inflows.

“The next phase of the reforms should be converting renewed
investor interest into long-term sustainable investments,” Baxter said.

He added that the UK remains a key partner in Nigeria’s
banking and capital markets.

Odile Renaud-Basso, president of the European Bank for
Reconstruction and Development (EBRD), also highlighted Nigeria’s economic
potential.

“We see all the potential in the economic stabilisation in
Nigeria, the growth of the population, the appetite, the investment in new
technologies, and the ability of the people to embrace new technologies,” she
said.

On his part, Steve Gray, head of West and Central Africa at
UK Export Finance (UKEF), emphasised the role of transparency in sustaining
investor confidence.

“Confidence is built through full fiscal transparency. But
the reforms in Nigeria are providing transparency and building confidence,”
Gray said.

Melis Ekmen Tabojer, managing director for policy strategy
and delivery at the EBRD, said the reforms are already influencing investor
behaviour.

“The recent reforms that Nigeria has had have had a huge
impact in attracting investors and how policies are made,” she noted.

Speaking on behalf of the federal government, Sanyade Okoli,
special adviser to the president on finance and the economy, said Nigeria is
now focused on attracting long-term capital to drive growth.

“We need to work with partners who will bring the sticky,
equity capital,” she said, noting that the government alone cannot fund the
country’s growth ambitions.

Banking sector leaders, including chief executives of major
Nigerian lenders, also backed the reforms, saying they have improved confidence
and strengthened the capacity of banks to finance projects.

Aprokorepublic

The Nigeria Sovereign Investment Authority (NSIA) has signed
a memorandum of understanding (MoU) with Asset Green Limited to develop an
integrated dairy production platform in the West African nation.

Asset Green Ltd is a UK‑based private investment group,
focused on large‑scale, commercially viable agricultural and food‑processing
platforms across emerging markets via its agri-food investment platform Agrium
Capital Ltd.

The agreement was signed on Tuesday in London ahead of
President Bola Tinubu’s state visit to the United Kingdom (UK), according to a
statement on Wednesday from the British high commission in Nigeria.

The commission said the project would transform Nigeria’s
dairy sector and strengthen national food security.

The commission said the MoU provides a framework for
collaboration and project development, which will culminate in a formal
shareholders’ agreement.

The initiative is said to be ranked among Nigeria’s most
ambitious dairy investments, combining 20,000 hectares of climate-smart forage
production with a 10,000-milking cow operation.

The project is also expected to include a processing
facility to produce fresh milk, milk powder, butter, cream, and up to 15,000
metric tonnes of infant formula annually.

“Designed to reduce Nigeria’s reliance on imported milk
powder, the project will modernise agricultural practices, improve nutrition,
and integrate up to 10,000 rural households into the supply chain through
inclusive out‑grower schemes,” the statement
reads.

“Once operational, the platform is expected to generate over
US$620 million annually and create 2,500 direct and 5,000 indirect jobs
nationwide.”

Jonny Baxter, British deputy high commissioner to Nigeria,
said the partnership reflects enduring economic ties between Nigeria and the
UK.

Baxter noted that the UK supported the establishment of the
NSIA more than a decade ago by providing legal and financial expertise that
strengthened its governance.

“That early investment has paid dividends, helping build a
resilient institution capable of driving long-term development,” he said.

The envoy described the NSIA-Asset Green collaboration as a
“full-circle moment” in bilateral relations and a signal of shared commitment
to sustainable growth.

Also speaking on the deal, Aminu Umar-Sadiq, the managing
director and chief executive officer (CEO) of NSIA, said the project is a
transformative investment valued at nearly $500 million.

“By combining climate-smart farming, advanced processing and
inclusive out-grower participation, we are building a modern, competitive dairy
sector,” he said.

“This will reduce import dependence, create jobs and deliver
long-term value for Nigerians.”

Also commenting, Rod Bassett, director at Asset Green, said
the partnership would unlock Nigeria’s agricultural potential.

Bassett, who is also chief executive officer of Agrium
Capital Ltd., said the greenfield investment would develop infrastructure,
boost local production, and cut import dependence.

He added that the project would support environmental
sustainability while strengthening food sovereignty and nutritional resilience.

Aprokorepublic

A Nigerian woman from Ibadan, Oyo State, identified as
Ogundele Oluwakemi Victoria, is reportedly in critical condition in Iraq after
being trafficked under deceptive circumstances, with allegations of abuse,
starvation, and a suspected organ harvesting attempt.

The case was brought to light by Damilola Adekola of Hopes
Haven Foundation, who said Victoria’s condition has deteriorated significantly.

“She is currently in a critical state, with reports
indicating she may have lost her sanity,” Adekola said, citing claims of
prolonged abuse and neglect.

Victoria’s sister, Titilayo Victoria, said the family only
became aware of her travel plans shortly before she left Nigeria.

“Two days before she travelled, she called to inform me,”
she said. “The agent warned her not to tell anyone until everything was
completed.”

Despite attempts by family members to stop her, Victoria
reportedly went ahead with the trip after being told the process could not be
reversed.

After arriving in Iraq, she maintained limited contact with
her family, during which she allegedly complained of mistreatment and lack of
food.

“She told us they were maltreating her and starving her,”
her sister said.

A Nigerian acquaintance in Iraq, identified as Lady B,
described a troubling account of Victoria’s experience, including alleged
financial exploitation and threats from her employers.

“She said her agent kept demanding money even after she had
paid several months’ salary,” Lady B said.

She further alleged that Victoria narrowly escaped a
suspected organ harvesting attempt.

“She was taken to a hospital, and a nurse warned her to run
for her life because they wanted to harvest her kidney,” she claimed.

According to the account, Victoria later fled to a police
station but was returned to an agency, where she was allegedly resold to
another household.

At the second location, she was reportedly denied access to
her phone and threatened.

“One day, her employer warned she would be shot if seen
using a phone again. That was the last time we heard from her,” Lady B added.

Months later, Victoria was reportedly traced to an agency
office in Baghdad, where she was found in a severely weakened state.

“She was lying on the floor and could not speak. They said
she was not mentally stable,” Lady B said.

She was said to have remained there for weeks without proper
care until concerned Nigerians intervened to provide basic support.

Another Nigerian, identified as Mama Tee, confirmed efforts
to assist Victoria.

“I sent a nurse to assess her, and the report was that she
was not mentally okay,” she said, adding that the agency had threatened to
abandon her if no one took responsibility.

Victoria has since been moved from the facility and is
currently under the care of concerned persons, but remains in urgent need of
medical attention.

“She needs immediate help,” Mama Tee stressed.

Victoria’s agent, identified as Mr Kazeem, admitted
facilitating her travel but denied responsibility for her current situation.

“I handed her over to another agent. I don’t have access to
the office handling her case,” he said.

He added that efforts were being made to support her
treatment but offered no clear plan for her return to Nigeria.

“Let us keep praying for her. By God’s grace, she will
recover,” he said.

The National Agency for the Prohibition of Trafficking in
Persons (NAPTIP) has condemned the incident and pledged to intervene.

Spokesperson Vincent Adekoye said the victim may have
bypassed earlier interception efforts by the agency.

“We usually intercept such cases, but she may have evaded
our officers,” he said, adding that NAPTIP would take immediate steps to rescue
her and investigate those involved.

Victoria’s case points to ongoing concerns over human
trafficking involving Nigerian women to the Middle East, where many reportedly
face exploitation under abusive labour conditions.

Rights groups warn that without stronger enforcement and
public awareness, such cases may continue to rise, putting vulnerable
individuals at risk.

Aprokorepublic

Governor Abdullahi Sule of Nasarawa State has announced
plans to contest for a Senate seat in 2027, reversing an earlier position where
he vowed on national television not to seek any elective office after
completing his tenure.

The governor, who is serving his second and final term, is
now set to vie for the Nasarawa North senatorial seat in the next general
elections.

Sule had previously ruled out any future political ambition
during an appearance on Politics Today on Channels Television in January 2024.

“I came in only to be a governor. I have no intention to run
for the office of a senator. You can keep this tape and play it one day,” he
had said at the time.

However, in a recent development, his Special Assistant on
Social Media, Ango Ngharni Emmanuel, disclosed in a Facebook post that the
governor has now decided to enter the race.

According to the aide, Sule “has accepted the clarion call
to contest” for the legislative position, following mounting pressure from
political stakeholders and supporters within the ruling party.

Sources indicate that the push for his candidacy has largely
come from loyalists, appointees, and beneficiaries of his administration who
are urging him to represent the district at the National Assembly.

Born on December 26, 1959, Sule was first elected governor
in 2019, succeeding former governor Umaru Tanko Al-Makura, who is widely
credited for his role in shaping the state’s modern political landscape with
the nickname, “the Architect of Modern Nasarawa.”

Aprokorepublic

The leadership of Ozoro community in Delta state has reacted
to allegations of r*pe and harassment of young women trailing its Alue-Do
festival.

On Thursday, outrage erupted on social media after multiple
videos circulated on X showing men tearing the clothes of young women during
the festival.

In one of the viral clips, men were seen groping the women
in a manner widely described as animalistic and despicable.

In the clip, a young woman could be seen crying and
clutching her torn clothing as some men violently harassed her.

The state government condemned the incidents, describing
them as “barbaric, heinous and unacceptable”.

The government said no individual or group should be allowed
to hide under the guise of a festival to perpetrate criminal acts.

As outrage grew, the state police arrested Omorede Sunday, a
community leader, and four other suspects over allegations of r*pe and assault.

‘IT’S A CULTURAL FESTIVAL’

But a statement on Friday co-signed by Berkley Asiafa,
president-general, and Obaro Egware, secretary-general, said the viral videos
portrayed the festival in a bad light.

“Ozoro Kingdom is made up of five traditional communities,
each with its distinct customs, traditions, and festivals,” the statement
reads.

“On the said date, Uruamudhu Community celebrated one of its
ancient festivals known as the Alue-Do Festival.”

The community leaders described Alue-Do as a “festival of
fertility, widely believed to be a cultural practice that brings blessings of
children to individuals or couples experiencing difficulty in childbirth”.

“As part of this long-standing tradition, certain symbolic
practices are observed, including the act of playfully dragging and pouring
sand on married individuals who are yet to have children, as a cultural
expression believed to invoke fertility,” the statement added.

The leaders, however, said “some youths misinterpreted and
misapplied the cultural practice in a negative and unacceptable manner, leading
to the harassment of some young women”.

‘NO R*PE RECORDED’

The community leaders noted that, contrary to widespread
reports, there was no r*pe at the festival, but two young women were harassed.

“We wish to clearly state that reports circulating on social
media alleging that r*pe and widespread atrocities occurred during the festival
are false and misleading,” the statement reads.

“No incidents of r*pe were recorded. The situation involved
the harassment of two young women by individuals who took advantage of the
occasion to act irresponsibly.”

The statement added that the community leadership contacted
security agencies, who brought the situation under control and have commenced
investigations.

“The leadership of Ozoro Kingdom strongly condemns any form
of harassment or misconduct. Such behaviour is not part of our culture and
traditions and will not be tolerated,” the statement reads.

“Appropriate steps are being taken to address the actions of
those involved and to ensure that future celebrations are conducted in a
peaceful, respectful and orderly manner.”

The community leaders urged the public to disregard false
reports and refrain from spreading misinformation that may tarnish the image of
its cultural heritage.

Aprokorepublic

Femi Fani-Kayode, Nigeria’s ambassador to Germany, has urged
compatriots to support the Bola Tinubu administration.

The ex-aviation minister was among the 65 ambassadors
approved for posting in early March.

In a statement issued on Friday, Fani-Kayode commemorated
with Muslims across Nigeria and in the diaspora on the occasion of Eid-el-Fitr,
and expressed confidence that “Tinubu is on the right path to transform the
nation”.

Eid-el-Fitrl marks the successful completion of the holy
month of Ramadan.

The politician called on the faithful to sustain the virtues
of patience, compassion, generosity and unity cultivated during Ramadan, noting
that such values are essential for national cohesion and peaceful co-existence
among Nigerians, irrespective of religious or ethnic differences.

The envoy expressed confidence that Nigeria would overcome
its challenges and emerge stronger under Tinubu, urging citizens to remain
steadfast, hopeful and committed to the ideals of good governance and national
development.

While praying for peace, stability and progress in Nigeria,
he wished Muslims a joyous Eid celebration.

Aprokorepublic

Ahead of the 2027 general elections, the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, has cautioned political actors against using religion as a tool for electoral advantage.

The monarch said Nigeria must move beyond divisive tendencies as another election cycle approaches.

Speaking with newsmen at his Bodija residence in Ibadan on the occasion of Eid el-Fitr, Oba Ladoja stated that contemporary democratic realities no longer support the manipulation of religious sentiments for political gain.

He said, “We have gone beyond using religion as a basis for politics. That question does not arise. People from different backgrounds come together, play their roles, and move on. Religion should not be a factor in our politics.”

The monarch, who also addressed concerns over insecurity in parts of Oyo state, particularly recent incidents of kidnapping, stated that while such challenges persist, security agencies are making steady progress in tackling them.

According to the monarch, many of the reported cases are criminal acts driven by extortion rather than organised terrorism.

“In Ibadanland, we are on top of the issues. I am not saying there are no problems, but they are being solved as they arise. Some of these incidents are not even organised kidnappings.”

He cited a recent incident along the Oluyole axis of the Lagos-Ibadan Expressway, disclosing that suspects had been apprehended and victims rescued.

“Three of the suspects involved in the Oluyole case have been arrested, and two victims freed. That shows we are getting to the root of the matter.”

While acknowledging security concerns, the monarch identified land grabbing as a more pressing threat to the socio-economic development of Ibadan, warning that it could deter investors and undermine growth.

“The major problem we have is land grabbing. It can destroy investment. You acquire land, and before you return, someone else has taken over. That is a serious concern.”

He, however, assured residents that traditional institutions, in collaboration with government authorities, are taking proactive steps to curb the menace, including strengthening community vigilance and reviving local security structures.

“The traditional institution is not sitting idle. We are sensitising our people and mobilising local vigilantes. Ibadan has strong traditional structures, and we are reviving them to maintain order.”

Aprokorepublic

The Kano State Government has confirmed that, following the massacre of 16 hunters in Uromi, Edo State, a special account has been opened for the payment of compensation to the victims’ families.

The account, tagged “Uromi-16,” is designated for the disbursement of compensation for the loss of lives.

This was disclosed by the Kano State Commissioner for Information, Ibrahim Waiya, while presenting Governor Yusuf’s donations of food and cash to the victims’ families on Friday in Bunkure Local Government Area of the state.

Waiya indicated that all arrangements for the payment had been concluded, adding that the earlier delay was due to the failure of the former chairman of the Uromi Committee, Deputy Governor Aminu Abdussalam, to carry out the necessary steps.

Ibrahim Waiya further stated that each of the 16 persons who lost their lives was allocated N300,000, while 12 injured persons received N200,000 each, along with food items from the governor.

“Kano State Government assured that the Edo State Government has concluded all plans to commence payments of life compensation for the 16 Uromi hunters killed while on their way from their businesses.

“Governor Yusuf had for the last year directed that something be given to them, but his directive was not implemented by the chairman of the committee,” he explained.

Speaking in appreciation of the government’s gesture, the District Head of Bunkure, Alhaji Aminu Isha Umar, said he was confident that Governor Yusuf would secure compensation for the victims from the Edo State Government.

He commended the governor for his continued support to the people of the state in general and the Bunkure Local Government in particular.

Aprokorepublic

Suspected political thugs disrupted the maiden meeting of the African Democratic Congress (ADC) Young Women Forum on Friday in Eleme Local Government Area (LGA) of Rivers.

The thugs stormed the venue in Alesa Eleme, Rivers, dispersed supporters and destroyed canopies, loudspeakers, chairs and other equipment.

The thugs disrupted the meeting on the grounds that the organisers had not obtained prior approval and claimed that the Independent National Electoral Commission (INEC) had not authorised political activities.

Reacting, the National Coordinator of the ADC Young Women’s Forum, Ms Atosemi Oma-Uwame, condemned the incident.

She described the disruption as an attempt to suppress democratic engagement and opposition parties ahead of the elections.

“We gathered here today to inaugurate the ADC Young Women Forum in Eleme LGA. Thugs led by a ward councillor (name withheld) disrupted our meeting.

“The councillor claimed that we did not obtain approval from his office, but we did not come here for a campaign, rather for a gathering of ADC young women in my Eleme constituency.

“They said that if I want to host an event in the community, I should not use the name, ADC, or mention my political party,” she said.

Oma-Uwame said she had earlier been warned against hosting the event under her party’s platform in the area.

“The disruption of our meeting is an attempt to stifle democracy and prevent political engagement,” she said.

She added that the meeting was organised in collaboration with The Atosemi Movement (TAM) to promote grassroots mobilisation among women.

‘’The forum provides a platform for young women in politics to organise and advance shared goals,’’ she said.

Oma-Uwame stated that the group was not a feminist movement but aimed at promoting gender balance within her party.

“Young women should not shy away from politics. We do not need to beg men to grant us our rights.

“We encourage young women who wish to participate in politics or contest for positions to obtain party forms and contest,” Oma-Uwame said.

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