The Emir of Kano, Muhammadu Sanusi II, has called for an urgent moral regeneration in Nigeria, warning that the country will remain trapped in a cycle of corruption and poor leadership if it continues to reward individuals who loot public resources with political appointments and public acclaim. Speaking on Channels Television’s Politics Today on Wednesday

CBN Clamps Down on FX Rules Violators after Forensic Audit The Central Bank of Nigeria has concluded a forensic audit into undelivered foreign exchange forward contracts and is now reviewing appropriate legal action against violators of FX rules and regulations. The CBN announced that it will work with law enforcement and regulatory agencies to pursue

The federal government’s investment assets, valued at N38.3 trillion, are currently undergoing audit and reform under the stewardship of the Ministry of Finance Incorporated (MOFI), as part of a wider push to instil corporate governance and transparency across Nigeria’s public enterprises. Dr. Armstrong Takang, the CEO, Ministry of Finance Incorporated (MOFI), disclosed this at the

SIM-NIN Cleanup: Telecom Subscriptions Decline to 172m in June – Report  Nigeria’s telecommunications industry recorded a slight decline in active mobile subscriptions in June 2025, as regulatory enforcement and internal operator reviews continue to shape the market. According to the latest industry statistics published by the Nigerian Communications Commission (NCC), active mobile lines fell to

NDIC Disburses N54.62bn to Defunct Heritage Bank Depositors The Nigeria Deposit Insurance Corporation (NDIC) says it has disbursed a total of N54.62 billion to 691,418 depositors of the defunct Heritage Bank, marking a significant milestone in its resolution process less than a year after the bank’s closure. A statement signed by Hawwau Gambo, head, Communication

The National Identity Management Commission (NIMC) has introduced a new access control policy for users of its National Identification Number (NIN) self-service modification portal, warning that users may face account lockouts if guidelines are not strictly followed. The Commission, in a public advisory released Thursday and signed by Dr. Kayode Adegoke, the head of corporate

Food Inflation Drives 3.5m Children into Malnutrition As food prices continue to soar and international aid dwindles, child malnutrition is tightening its grip on Nigeria, according to available data. About 3.5 million children in Nigeria are currently suffering from severe acute malnutrition, according to the latest data from the United Nations Children’s Fund (UNICEF). For

Civil Servants Built Estates with Stolen Funds — EFCC Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that many abandoned estates in the Federal Capital Territory (FCT) were built by civil servants using stolen public funds. Olukoyede spoke in Abuja on Wednesday at a policy dialogue organised by Law Corridor

Nigeria businesses are holding off on issuing new debt, creating a quiet spell in the corporate bond market, waiting for a more favourable borrowing environment. With interest rates at their highest levels in decades, the cost of servicing new debt has become expensive for many firms. Consequently hoping for a series of rate cuts that

Investment inflows into Nigeria increased by 67.1 percent year-on-year to $5.642 billion in the first quarter of 2025, according to the National Bureau of Statistics (NBS) report. The Capital Importation report released on Tuesday shows that investors were mostly attracted to the banking, financing, and production sectors, which accounted for 55.4 percent, 37.1 percent, and

Muhammadu Sanusi, emir of Kano and chairman of United Textile Company Limited (UNTL), says Nigeria’s textile industry is being crippled by poor infrastructure, rampant smuggling, and ineffective copyright enforcement. Speaking in Kaduna on Thursday after hosting John Enoh, minister of state for trade and investment, on a tour of UNTL, Sanusi said the problems have

Travellers to the United States (U.S.) with a record of high visa overstays may need to pay $15,000 that will be refunded upon their return, in a move to deter visa overstays. The scheme is scheduled to commence from August 20, according to a government notice published on Monday. It will apply to B-1 or