Connect with us

Gbasgbos

CBN reforms have strengthened Nigeria’s resilience to external shocks – Cardoso

Published

on

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.

READ ALSO:  US Embassy in Nigeria to Close for US Independence Day

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.

READ ALSO:  Tinubu House-to-House Mobilisation Network Launches In Gombe State

“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.

READ ALSO:  Army Strikes Bello Turji’s Hideouts, Kills Several Bandits

Aprokorepublic

Gbasgbos

Big Change Ahead? FG Set to Replace Multiple Emergency Lines with Just One Number

Published

on

The Federal Government has announced plans to implement 112 as Nigeria’s nationwide emergency telephone number, aiming to unify and strengthen the country’s emergency response system.

The initiative was disclosed in a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications (Office of the Vice President), following a meeting between Vice President Kashim Shettima and a delegation from the Nigerian Communications Commission (NCC) at the Presidential Villa.

The move comes days after the National Economic Council (NEC), chaired by Shettima, approved the adoption of 112 across all levels of government and agencies.

Shettima directed the NCC to develop a roadmap for implementation and to collaborate with the National Emergency Management Agency (NEMA) to improve coordination nationwide.

“The Vice President assured the delegation that the project would be sustained, with funding mobilised through NEC and private sector support,” the statement read.

NCC Chairman Idris Ibikunle Olorunnimbe noted that about 35 Emergency Communications Centres had already been established across the country, but urged greater support from governors, the police, ambulance services, and NEMA to keep them operational.

He stressed that the success of the initiative would depend on collective commitment:“Everyone is expected to buy into this initiative. It is a patriotic duty to ensure that anyone in distress can get help swiftly.”

The adoption of 112 is expected to streamline emergency response, reduce delays, and provide Nigerians with a single, reliable number for police, fire, medical, and disaster-related emergencies.

Aprokorepublic

READ ALSO:  Tension in Rivers as Emohua LG workers protest seven months unpaid salaries
Continue Reading

Gbasgbos

FCT projects: Working with me very difficult – Wike

Published

on

Minister of the Federal Capital Territory, FCT, Nyesom Wike,
on Wednesday, declared that working with him is very difficult.

Wike explained that contractors and those working with him
must show that they have the capacity.

He spoke during the inauguration of the Federal High Court
Judges’ Quarters in Katampe area of Abuja to mark President Bola Tinubu’s third
year in office.

Tinubu was represented by Vice President Kashim Shettima at
the event.

Wike said: “Anything that is good is good, nobody that will
come here, no matter how wicked or appreciate that you are, will say Mr
President thank you for doing this. We all understand how Mr President feels
about the judiciary.”

Wike also noted that the judiciary needs a conducive
environment to work, adding that the welfare of judicial officers would ensure
the sector’s independence and rule of law.

He added: “The judiciary can’t be independent without giving
them a befitting environment to work, improving their welfare and these are the
things that would make the independence of the judiciary and uphold the rule of
law.”

The minister noted that glassiness that Tinubu’s
administration is changing the narrative.

“I pity the Executive Secretary of the FCDA, you know
working with me is very difficult because you really have to show that you have
the capacity to deliver.

“The contractors have said so and I think I have been here
more than 20 times supervising this project and letting him know that if you
collect our money during the rainy season, you must also work during the rainy
season, no excuses.

READ ALSO:  US Embassy in Nigeria to Close for US Independence Day

“You can also empower those who said that they are rain
doctors, go and bring them so that there be no rain. I’m happy this project is
completed within the time scheduled.”

He further urged the Chief Judge of the Federal High Court
to ensure proper use of the facility.

“But I will appeal to the Chief Judge of the Federal High
Court, this the Federal government has provided and I believe that when we come
back here in the next one year it will still look like this.

“We have the problem of maintenance culture, most people say
it’s lacking in us but I don’t want to believe so; I believe that if you have
your own private house, the way you will keep it is the same way you will keep
wherever you are staying.

“It’s very important that we keep the standard the way it is
and ensure that we will be happy when we come back in the next one year,” he
added.

Aprokorepublic

Continue Reading

Gbasgbos

2027: ‘We’ve since submitted names to INEC’ – NDC dismisses lists of candidates in circulation

Published

on

Nigerian Democratic Congress, NDC, has asked the general
public, especially members of the party in Imo, Abia, Anambra, and other
affected states, to disregard the lists of candidates widely circulating on
social media as the authentic list of the party’s candidates.

In a statement signed by Bar. Ikenna Alex-Morgan Enekweizu,
the party’s National Secretary, NDC, said the lists are fake and did not emanate
from the party’s headquarters.

The statement added, “Our party has since submitted the
lists of authentic candidates that will fly our party’s flag to the Independent
National Electoral Commission, INEC, using the appropriate channel as approved
by the Electoral Act.

“Such lists in circulation are being peddled by mischief
makers and those who do not wish the party well.”

However, the statement added that the party is currently
investigating the sources of such fabrications and leakages, adding that there
are desperate attempts to cause ill will and distractions within the party.

“This is to reassure our members that the NDC is robustly
committed to building a party that would serve as a vehicle to liberate Nigeria
from its present parlous state with the cooperation of everyone,” it added .

Meanwhile, the NDC had recently mandated its public
office-seeking members to sign what it called anti-defection documents.

The Memorandum of Understanding requires candidates seeking
elective offices on its platform to sign the legal documents committing to
vacate their positions if they leave the party after winning elections.

Aprokorepublic

READ ALSO:  Borno Military Base Attacked by Boko Haram, Multiple Soldiers Killed
Continue Reading

Gbasgbos

‘Nigeria entered one chance, use your votes wisely’ — Aregbesola to Ekiti voters

Published

on

Former Osun State Governor and National Secretary of the
African Democratic Congress, ADC, Rauf Adesoji Aregbesola, has told Ekiti
voters that Nigeria has entered one chance, urging them to use the ballot box
to change the country’s direction.

Aregbesola made the remark on Thursday at the party’s mega
final rally held at the ADC secretariat in Ado-Ekiti, ahead of Saturday’s June
20, 2026 governorship election.

Addressing supporters, Aregbesola said Nigerians are facing
economic hardship and governance challenges, adding that citizens have a
responsibility to determine the country’s future through their votes.

He urged women, youths and other eligible voters not to stay
away from the polls, expressing confidence that the ADC would emerge victorious
in the election.

Also speaking, the ADC governorship candidate in Ekiti
State, Ambassador Dare Bejide, assured residents that his administration would
fulfil all campaign promises if elected. He urged voters to come out in large
numbers to support the party.

The event was attended by the ADC National Chairman, Chief
Ralph Nwosu; former Edo State Governor, Prof. Oserheimen Osunbor; the party’s
National Financial Secretary, Dr. Mani Balarabe Rufai; Engr. Jide Adeniji and
other stakeholders.

A former member of the Ekiti State House of Assembly and
former Commissioner for Information in the State, Akin Omole, alleged that the
party encountered difficulties in securing public facilities for earlier
campaign activities, but said the challenge would not prevent victory.

Speaking with journalists, the ADC candidate for Ekiti North
Senatorial District, Senator Funsho Ayeni, described the turnout at the rally
as evidence that Nigerians are tired of insecurity, poverty and poor
governance.

READ ALSO:  Lady calls out performer Segun Johnson over 13-year relationship drama

Ayeni urged eligible voters, particularly youths, to
exercise their civic responsibility and use their Permanent Voter Cards to
shape the future of Ekiti State, insisting that the ballot remains the most
effective tool for demanding better governance.

Aprokorepublic

Continue Reading

Gbasgbos

My anti-corruption fight upset cabals in oil sector — Diezani Alison-Madueke

Published

on

Former Minister of Petroleum Resources, Diezani
Alison-Madueke, has suggested that her efforts to tackle corruption in
Nigeria’s oil industry and the powerful interests affected by those reforms
contributed to the legal and political battles that followed her tenure in
office.

Speaking in an interview with the BBC days after a London
court acquitted her of all bribery charges, Alison-Madueke said the UK’s
National Crime Agency, NCA, failed to properly understand the realities of
Nigeria’s oil sector before pursuing a case against her.

She said investigators treated her as “low-hanging fruit”,
while ignoring the anti-corruption efforts she undertook as petroleum minister
and the enemies she made in the process.

“I think that being such a low-hanging fruit in terms of
opposition and the accusations they were throwing at me throughout that period,
I wish they had taken a step back and looked with a little more depth at the
actual truth of the situation on ground,” she said.

“Also, the things that I tried to do to put in place in
terms of pushing back and fighting corruption in oil sector, which had not gone
down well with many of the cabals in the sector at home.”

“I was the first female to enter this sort of position as
petroleum minister and as head of OPEC in a very misogynistic society,”
Alison-Madueke added.

According to her, the NCA should have “taken a step back and
looked with a little more depth at the truth of the situation on the ground.”

The former minister, who served under former President
Goodluck Jonathan between 2010 and 2015, was last week acquitted by a jury at
Southwark Crown Court of five counts of accepting bribes and one count of
conspiracy to commit bribery after a trial that began in January.

READ ALSO:  Tinubu House-to-House Mobilisation Network Launches In Gombe State

Alison-Madueke also questioned the handling of evidence
linked to the case, claiming documents that could have aided her defence
disappeared after being taken from her Abuja residence in 2015.

“Those items were taken away by our intelligence forces,”
she said, referring to boxes of receipts which she said showed that payments
made on her behalf had been reimbursed.

Asked who should bear responsibility for the collapse of the
prosecution’s case, Alison-Madueke replied: “There’s a bit of blame
everywhere.”

“The Nigerian authorities need to look into the processes
and practices that they deploy in these cases,” she said, before adding that
“the long arm of the law when you go into other countries, particularly in
politically motivated cases, needs to have a lot more sensitivity.”

Her acquittal, alongside those of her brother, Doye Agama,
and oil executive Olatimbo Ayinde, brought to an end one of the most closely
watched corruption trials involving a former Nigerian public official in the
United Kingdom.

Aprokorepublic

Continue Reading

Gbasgbos

Deregistration: Justice Lifu APC Mole in Federal High Court – ADC chieftain

Published

on

African Democratic Congress (ADC) chieftain Eze Chukwuemeka Eze has strongly criticised Justice Peter Lifu of the Federal High Court, Abuja, describing him as an “anti-democratic judicial officer” and an alleged mole for the ruling All Progressives Congress (APC).

In a statement issued on Friday, June 19, 2026, Eze claimed the judge is being used by desperate politicians to stifle opposition parties ahead of the 2027 general elections.

He accused Justice Lifu of working to protect President Bola Tinubu’s re-election prospects by targeting parties seen as potential threats.

Eze alleged that Justice Lifu exhibited “overzealousness” and disregarded an order from the Court of Appeal directing him to stay proceedings in the suit seeking the deregistration of several political parties, including the ADC.

He described the judge’s actions as “judicial rascality” and a “hatchet job” for the APC.

The ADC leader further stated that Nigeria’s judiciary has been compromised since the Buhari administration’s actions against former Chief Justice Walter Onnoghen, leading some judges to allegedly align with politicians out of fear.

He praised the Court of Appeal and INEC for challenging Justice Lifu’s ruling and staying its execution.

Eze claimed the ultimate target is to prevent a potential Atiku Abubakar/Amaechi ticket or similar opposition alliances from contesting the 2027 presidential election.

He called on the National Judicial Council (NJC) to investigate and sanction Justice Lifu for allegedly subverting the rule of law and damaging public confidence in the judiciary.

Justice Lifu had ruled that the ADC and four other parties, Accord Party, Action Alliance (AA), Action Peoples Party (APP), and Zenith Labour Party (ZLP) failed to meet constitutional requirements (including securing 25% of votes in certain areas in the 2023 elections) and should be deregistered by INEC.

READ ALSO:  EFCC Explains why Blessing CEO Remains Free Despite Cancer Scandal

The Court of Appeal subsequently stayed that judgment. These are serious allegations made by a political party chieftain.

Aprokorepublic

Continue Reading

Gbasgbos

Anambra Court Grants ₦50m Bail to Native Doctor Accused of Violating Security Law

Published

on

A High Court in Awka, Anambra State, has granted bail to popular Nnewi-based native doctor, Ikechukwu JohnPaul Ezenagu, also known as Mmuo Mmili Afuluanya (or Muomiri Afuluanya), in the sum of ₦50 million.

Ezenagu was arrested in March 2026 by operatives of the Anambra State security network, Agunechemba, over alleged violation of the state’s Homeland Security Law.

He was previously remanded at the Amawbia Correctional Centre after an earlier court appearance.

The court imposed strict conditions for the bail, including:

A gag order barring the defendant from speaking to the press or making public comments about the ongoing case.

Requirement to provide sureties acceptable to the court.

Forfeiture of property to the Anambra State Government if he jumps bail or fails to comply with the terms.

The case, which has drawn significant public attention amid the state government’s crackdown on certain traditional practices linked to crime, has been adjourned for further hearing.

This is the latest development in the trial. The allegations have not been proven in court, and the native doctor maintains his right to defend himself against the charges.

Aprokorepublic

READ ALSO:  Lagos APC Fixes March 3 for State Congress at Mobolaji Johnson Stadium
Continue Reading

Gbasgbos

Lagos Secures €170m Partnership to Transform Waterways Transport

Published

on

Lagos State has secured a €170 million financing deal with EIB Global, the development arm of the European Investment Bank, to expand and modernize its waterways transport system under the Omi Eko Project.

The agreement, announced in Ikoyi on Friday, marks the first collaboration between the Lagos State Waterways Authority (LASWA) and the EIB.

The signing ceremony was attended by EIB Vice-President Ambroise Fayolle, EU Ambassador Gautier Mignot, and French Consul General Laurent Favier.

According to LASWA, the project will deliver 15 structured ferry routes spanning 140 kilometres, connect 25 upgraded terminals, and deploy 75 fully electric ferries capable of carrying up to 440 passengers each.

The initiative is expected to cut greenhouse gas emissions, reduce water pollution, and raise Lagos’ waterborne transport share from less than 1% today to 8% by 2032.

Lagos Commissioner for Transportation, Oluwaseun Osiyemi, praised the EIB’s commitment, pledging strong political will and transparency to ensure the project meets global standards.

Special Adviser on Blue Economy, Oluwadamilola Emmanuel, described the partnership as a milestone in unlocking Lagos’ blue economy potential.

EIB Vice-President Fayolle highlighted the project’s role in boosting sustainable growth and job creation, while EU Ambassador Mignot emphasized its alignment with the EU’s Global Gateway strategy in West Africa.

Together with the French Development Agency and EU support, the total financing package for the project amounts to €410 million.

The Omi Eko Project is part of Nigeria’s National Development Plan 2021–2025, which prioritizes investment in critical infrastructure.

Once completed, it is expected to improve accessibility for waterfront communities, reduce commuting costs, and showcase Lagos as a model for sustainable urban transport.

READ ALSO:  Tinubu House-to-House Mobilisation Network Launches In Gombe State

Aprokorepublic

Continue Reading

Gbasgbos

‘My driver was beaten’ — ADC guber candidate alleges assault, vote buying in Ekiti poll

Published

on

Dare Bejide, governorship candidate of the African
Democratic Congress (ADC) in the Ekiti governorship election, has alleged
vote-buying and assault at his polling unit.

Bejide spoke while addressing police officers at his polling
unit in Ward 2, Ilawe-Ekiti, in Ekiti west LGA of the state.

The police team was on patrol as the vote progressed across
the state on Saturday.

The ADC candidate said he had repeatedly alerted security
operatives to the alleged distribution of money to voters before the situation
escalated.

“I have been calling the police for the past two hours,” he
said.

“There was a crisis here. I alerted the police officer here.
I told her that they were distributing money, but she said she couldn’t go
there. That was the beginning of the problem.”

The ADC candidate noted that voting had commenced peacefully
in his polling unit until allegations emerged that a woman was distributing
money to voters.

“We started on a very clean slate. I came here even before
the officials. And there was no problem until there were allegations that this
lady was distributing money,” he alleged.

“I confronted her. She called her boss. And the council
chairman came here and started abusing me.”

Bejide claimed that the council chairman, whom he said was
not from the polling unit, intervened in the matter, alongside a presidential
aide, who allegedly came with individuals he described as “fake policemen in
uniform”.

“It has been rancorous since morning here. I don’t believe
people should hang around here after voting. They should go home. But they are
distributing money from a certain arena,” Bejide claimed.

READ ALSO:  ‘General Hospital Had No Oxygen’ — Influencer Deka George Mourns Pregnant Sister

The ADC candidate further alleged that the presidential
aide, whom he identified as Makinde Olaoye, physically assaulted him and
attacked his driver.

“The SA to the president came here and pushed me. He beat my
driver to stupor, full of blood. He is in the hospital now. Is it because he is
SA to the president?” Bejide queried.

“He is not from this polling booth. His name is Makinde
Olaoye. He came here to push me. I am as old as his father… just because of an
election.”

Responding, the police commissioner leading the patrol team
said officers were focused on maintaining security and ensuring a peaceful
voting process.

“We are on operational duty, and the assignment today is very
critical. And that is why you see me as a commissioner of police within your
ward and unit,” he said.

The commissioner said complaints arising from the election
could be formally submitted after the exercise.

“We may not be able to entertain your complaints now. But if
there are issues, you can come and either produce everything in writing or lay
complaints,” he said.

He added that additional personnel would be deployed to the
polling unit to prevent any breakdown of law and order.

READ ALSO:  US Embassy in Nigeria to Close for US Independence Day

“I am going to drop more manpower for you, so that they deal
with any opposition or force of harm that may invade your unit. But for now,
the area is calm, and we have already directed that those not voting should go home.

“The only thing I can do for you, as an institution, is to
provide an enabling environment. Every player should play the game according to
the rules,” the commissioner said.

The development follows an earlier allegation by Wole
Oluyede, candidate of the Peoples Democratic Party (PDP), who accused security
operatives of suppressing voters and harassing party supporters in the ongoing
election.

As of the time of filing this report, the ruling All
Progressives Congress (APC) and the Independent National Electoral Commission
(INEC) have yet to react to the allegations.

Aprokorepublic

Continue Reading

Trending