The Central Bank of Nigeria (CBN) carried out one of its most aggressive Open Market Operations (OMO) auctions in recent history, mopping up N3.692 trillion in a single trading session as monetary authorities intensified efforts to tighten liquidity and contain inflationary pressures. According to OMO auction results released by the apex bank, investor demand for the CBN’s short-term securities far exceeded expectations during the May 21, 2026, auction. The CBN had offered N600 billion across two instruments, a 33-day bill and a 138-day bill, but total subscriptions surged to N3.692 trillion, representing more than six times the amount initially offered.…
Author: Elvis Eromosele
The Nigeria Civil Aviation Authority (NCAA) has temporarily suspended enforcement of its controversial “no pay, no service” directive against 11 domestic airlines over unpaid statutory remittances owed to the regulator. The suspension was announced on Sunday in a statement signed by Capt. Chris Najomo, Director-General of Civil Aviation. The move comes days after the NCAA issued an internal directive placing the affected airlines on an updated compliance list and ordering the withdrawal of regulatory and administrative services until outstanding debts were settled. According to the NCAA, the enforcement policy was originally introduced to improve compliance with statutory remittances collected by…
President Bola Ahmed Tinubu has admitted that many Nigerians are still struggling with rising living costs despite the economic reforms introduced by his administration over the past three years. Tinubu made the remarks on Sunday during his acceptance speech after emerging as the presidential flagbearer of the All Progressives Congress (APC) for the 2027 elections. The President acknowledged that while his government has recorded progress in stabilising the economy and implementing key reforms, millions of Nigerians continue to face hardship due to inflation and economic adjustments. Nigeria’s headline inflation rate rose to 15.69 per cent in April 2026, up from…
By Ike Chioke The sight of jubilant Arsenal supporters pouring into the streets of North London after the Gunners secured their first English Premier League title in 22 years was more than just a football celebration. It was a reminder of how deeply football has embedded itself into the emotional, economic, cultural and political fabric of modern society. For millions of Nigerians, Arsenal’s triumph was personal. Across Lagos, Abuja, Port Harcourt, Kano, Enugu and countless towns and villages, bars overflowed with excited fans draped in red and white. WhatsApp groups exploded with banter. Offices suddenly became tactical analysis rooms. Even…
The Nigeria Customs Service Tin Can Island Port Command generated N1.60 trillion in revenue in 2025, surpassing its annual target of N1.52 trillion amid improved compliance measures and intensified trade facilitation efforts. The disclosure was contained in a statement issued on Saturday by Oscar Ivara following the promotion of Frank Onyeka to the rank of Assistant Comptroller-General of Customs. Onyeka, who previously served as Customs Area Controller of the Tin Can Island Port Command, formally handed over leadership of the command after his elevation. The command also recorded N401.01 billion in revenue during the first quarter of 2026. Speaking during…
African Food Changemakers (AFC) has launched an ambitious 2030 strategy aimed at accelerating Africa’s agrifood transformation by supporting one million agribusinesses with finance access, market opportunities, climate resilience, and enterprise development tools. The organisation said the initiative will be driven through the AFC Hub, a platform designed to connect agrifood enterprises to funding, partnerships, market intelligence, and industry resources needed to scale sustainably across the continent. According to a statement issued by AFC’s communications team, the organisation also plans to support 5,000 women- and youth-led agriSMEs to compete in regional and international trade, while helping another 5,000 agribusinesses adopt climate-smart…
Concerning DSO, there is fresh excitement, optimism and great expectation preceding the July launch, and I am happy to share in all the euphoria. After blowing over N60bn on a project that smaller African nations have since concluded but which remains in a convoluted suspense here, you won’t blame anybody for hoping once more. The word from the seat of government gives us hope, especially from a Minister who has worn humility as a badge, and performance as a deal with destiny; a Minister different from the rest of them all in not being an insouciant ventriloquist to a master…
“A nation does not lose dignity all at once. It loses it gradually, in the way its citizens are treated abroad, in the quality of services forced upon them, and in the silence with which they endure humiliation.” I recently flew from Toronto to Abuja on British Airways. From Toronto to London, the experience was superb. The aircraft was modern, elegant, and technologically advanced. We enjoyed seamless Starlink WiFi throughout the journey free of charge. The service was efficient, courteous, and unmistakably world-class. For a moment, one felt respected as a paying customer. Then we landed in London and boarded…
Nestlé Nigeria has rounded off the 15-year anniversary celebration of its Technical Training Initiative with the graduation of 20 new trainees from the Abaji Factory Technical Training Centre. This follows the recent celebration held at its Flowergate Factory in Sagamu. The graduation reinforces the company’s long-standing commitment to equipping young Nigerians with technical and vocational skills that enhance employability, strengthen industry capability, and create meaningful pathways to work. With an investment of over ₦6 billion, the programme, first established at Agbara Factory in 2011 and now present in Abaji and Flowergate, has equipped hundreds of young Nigerians with hands-on technical…
To encourage football lovers, especially followers of the Nigeria Premier Football League, to watch Rangers International Football Club of Enugu take on Ikorodu City Football Club of Lagos in a 4:00p.m. final day league match on Sunday, May 24, 2026, Afrinvest West Africa has rolled out a cart of gifts for fans. According to the investment banking firm, which is the official jersey sponsor of Rangers International FC, fans interested in the initiative are required to register via: https://zfrmz.com/LDMun5XO9v0tQ3R62nUL “The gifts include 300 tickets, 200 jerseys, and special gift items for the first 100 Rangers FC fans to arrive at the…