Author: Adejuyigbe Francis

As part of renewed efforts to deepen diaspora remittances and enhance transparency in Nigeria’s foreign exchange (FX), market, the Central Bank of Nigeria (CBN), has issued a directive mandating all International Money Transfer Operators (IMTOs), to open and operate naira settlement accounts with authorised dealer banks (ADBs). This directive, contained in a circular signed by Musa Nakorji, forms part of a broader policy framework aimed at improving traceability of remittance flows, strengthening regulatory compliance, and boosting efficiency within Nigeria’s FX ecosystem. The policy will take effect from May 1, 2026, reinforcing the CBN’s push to formalise remittance inflows—one of the…

On March 25, 2026, U.S. President, Donald Trump, announced the formation of a revamped President’s Council of Advisors on Science and Technology (PCAST)—a high-level advisory body composed of leading figures from the technology and innovation sectors. Among the most notable appointees are: Mark Zuckerberg (CEO of Meta) Sergey Brin (co-founder of Google) Jensen Huang (CEO of Nvidia) These appointments place some of the world’s most influential technology leaders at the center of U.S. science and technology policymaking. Composition of the Council The newly formed council initially consists of 13 members, with plans to expand to as many as 24 members.…

The January 2024 Shake-Up In January 2024, the CBN dissolved Union Bank’s board and management, citing regulatory powers intended to preserve financial stability and enforce compliance. The regulator subsequently appointed Yetunde Oni as Managing Director/Chief Executive Officer and Mannir Ubali Ringim as Executive Director. This decision, however, was contested by key core shareholders of Union Bank — Titan Trust Bank, Luxis International, and Magna International — who challenged the legality of the CBN’s intervention in court. They argued that: The removal of the bank’s directors was executed without due process. The proposed recapitalisation under the interim board was unlawful. The…

The Strait of Hormuz—one of the world’s most critical maritime chokepoints—has recently become the center of a major geopolitical and economic development. Iran, amid escalating conflict with the United States and Israel, has eased transit restrictions for certain vessels while reportedly charging up to $2 million per passage. This dual policy reflects a strategic recalibration aimed at balancing military control, economic leverage, and international pressure. Strategic Importance of the Strait of Hormuz The Strait of Hormuz is a narrow waterway linking the Persian Gulf to global oceans. It is vital for global energy markets: Handles ~20% of global oil and…

Overview of the Reorganisation The Inspector-General of Police, Olatunji Disu, has ordered a major redeployment of senior officers across the Nigeria Police Force in what is being described as a sweeping institutional reorganisation. According to a statement issued by the Force Public Relations Officer, Anthony Placid, the exercise is aimed at: Strengthening operational efficiency Enhancing leadership capacity Improving service delivery nationwide “The postings are in line with the Force’s commitment to an effective command structure and the strategic deployment of personnel across Commands, Formations, and Departments,” the statement noted. This move represents one of the first major structural reforms under…

The Nigeria national football team have unveiled new home and away jerseys for the 2026 season, designed by Nike. The kits were officially presented via the team’s X handle (formerly Twitter), account on March 23, 2026, drawing significant public interest. This launch comes as supporters continue to process the team’s failure to qualify for the 2026 FIFA World Cup, following a dramatic penalty shootout defeat to DR Congo in the CAF playoff final, despite finishing as runners-up in their qualifying group. Design and Aesthetics Home Kit Base colour: Vibrant light green with darker green panels and a subtle dotted fade pattern.…

On March 20, 2026, the United States Department of State announced a new round of sanctions aimed at dismantling a global financial network tied to Hizballah. The measures specifically target individuals and entities involved in fundraising, money laundering, and financial facilitation for the group. This action represents a continuation of U.S. counterterrorism financial strategy—focusing not only on operatives but also on the infrastructure that sustains militant activity. The network spans multiple regions, including the Middle East, Europe, and North America, highlighting the transnational nature of Hizballah’s financing operations. Objectives of the Sanctions The sanctions are designed to achieve several strategic…

The Nigerian Electricity Regulatory Commission (NERC), has approved the appointment of Sherifat Adegbenro, as the Acting Chief Executive Officer (CEO), of Eko Electricity Distribution Company (Eko Disco). This development represents another leadership transition within one of Nigeria’s key electricity distribution companies and reflects ongoing regulatory oversight aimed at ensuring stability in the power sector. Details of the Appointment According to NERC, the approval of Adegbenro’s appointment aligns with corporate governance requirements within Nigeria’s electricity supply industry. The commission emphasized that the move is temporary, pending the appointment of a substantive CEO by the company’s board. The regulatory body framed the…

The push for the establishment of state police in Nigeria has entered a critical phase as the Nigeria Governors’ Forum (NGF), formally submitted its contribution to the proposed framework. The document, now with the Nuhu Ribadu, is expected to be transmitted to the National Assembly for legislative consideration. This development reflects growing urgency among political leaders to reform Nigeria’s centralised policing structure amid persistent security challenges nationwide. Background to the State Police Debate Nigeria currently operates a centralised policing system under federal control through the Nigeria Police Force. Over time, this model has been criticised as overstretched and insufficient in…

The global aviation industry is facing severe disruption following a dramatic surge in jet fuel prices—rising by as much as 100% in a short period. This shock, driven largely by geopolitical tensions in the Middle East, is now cascading into national markets, including Nigeria, where airlines are already warning of imminent airfare increases. In Nigeria, the impact is particularly acute: aviation fuel (Jet A1), prices have more than doubled, placing airlines under intense financial strain and pushing the industry toward a critical tipping point. Causes of the Jet Fuel Surge Global Drivers: Middle East Crisis The ongoing conflict involving Iran…

President Tinubu on Sunday in Lagos addressed key national concerns during a meeting with senior government officials, including Vice President, Kashim Shettima, and members of the Nigerian Governors Forum (NGF). The gathering coincided with the celebration of Eid-al-Fitr and focused on national security, economic stability, and governance priorities. National Security Commitment President Tinubu reaffirmed his administration’s commitment to combating insecurity, describing it as a major impediment to national development, progress, and prosperity. He emphasized the need for collective action among federal and state governments to address criminal activities and ensure the safety of citizens. The President highlighted ongoing international collaborations…

The Nigerian Meteorological Agency (NiMet), has issued an urgent weather alert warning residents in several parts of the country to prepare for thunderstorms, strong winds, and fluctuating weather conditions over the coming days. The advisory, released by NiMet’s Central Forecast Office in Abuja, highlights a mix of weather elements that could affect daily activities, transportation, and safety across affected regions. Key Forecast Highlights According to the latest forecast, Nigerians will experience a combination of: Thunderstorms occurring in the afternoon and evening in several states, especially in southern and central parts of the country. Strong winds accompanying the storm systems, leading…