Abuja, September 2, 2025 – The Nigeria Education Loan Fund (NELFUND) has disbursed a total of ₦6,972,000 to 10 beneficiaries at the African Aviation and Aerospace University (AAAU), Abuja, as part of its student loan scheme. In a statement on Tuesday, NELFUND said the disbursement reflects its sustained commitment to supporting higher institutions and empowering
Abuja, September 2, 2025 – The Federal Government’s new policy on Compressed Natural Gas (CNG) pricing has officially taken effect, with pump rates now fixed at ₦380 per Standard Cubic Metre (SCM) in Lagos, Abuja, and other parts of the country. The uniform tariff regime, announced by regulatory authorities, is aimed at creating stability in
Abuja, September 2, 2025 – The Federal Government has directed that consultants and National Youth Service Corps (NYSC) members should no longer be included in the personnel payroll of Ministries, Departments, and Agencies (MDAs), warning that any breach of the directive will attract sanctions. In a circular issued by the Budget Office of the Federation,
Abuja, September 2, 2025 – President Bola Ahmed Tinubu has extended warm felicitations to Vice President Kashim Shettima on the occasion of his 59th birthday, describing him as a dependable partner in Nigeria’s nation-building journey. In a goodwill message on Tuesday, the President lauded Shettima’s courage, loyalty, and unrelenting commitment to the Renewed Hope Agenda,
In a dramatic turn within Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has concluded a forensic audit into undelivered FX forward contracts, valued at around $2 billion, igniting serious questions about market integrity, custodial responsibilities, and the fate of these stalled commitments. FX forwards function as pre-agreed deals: counterparties hand over naira today
Lagos, September 2, 2025 – Foreign exchange dealers in Nigeria have revealed a growing trend among Chinese traders, who are now increasingly accepting payments in naira rather than dollars for business transactions. The development, according to forex traders in Lagos and Kano, is reshaping cross-border trade patterns, particularly in manufacturing and wholesale markets where Chinese
Abuja, September 2, 2025 – Nigeria’s private sector has recorded its strongest performance in nearly two years, driven by robust demand and a slight easing of inflationary pressures. According to the latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI), business activity climbed to 54.2 points in August, up from 54.0 in July, marking the highest
September 2, 2025 – The Federal Ministry of Foreign Affairs has admitted that Nigerian diplomatic missions across the globe are grappling with financial and operational difficulties, largely due to budgetary shortfalls and foreign exchange pressures. In response, the ministry announced a series of interventions aimed at stabilizing embassy operations and addressing welfare concerns of staff.
The Nigerians in Diaspora Commission (NIDCOM) has attributed the recent increase in diaspora remittances, estimated at $600 million monthly, to the ongoing foreign exchange reforms initiated by the Central Bank of Nigeria (CBN). The Commission described the development as a strong signal that confidence is gradually returning to Nigeria’s formal financial system. Speaking on the
In a bold move aimed at strengthening access to affordable healthcare and reducing the financial burden on Nigerian households, the Federal Government has announced its target to enrol at least 44 million citizens into the national health insurance scheme by the year 2030. The plan, unveiled through the National Health Insurance Authority (NHIA), is part
