Author: Atoyebi Adenike

By Atoyebi Nike The Bill & Melinda Gates Foundation has committed $912 million over the next three years to the Global Fund to fight AIDS, tuberculosis, and malaria, urging governments and donors to scale up investments in global health. Announcing the pledge at the 2025 Goalkeepers event during the UN General Assembly in New York, Bill Gates described the Global Fund as “one of the most effective lifesaving initiatives,” noting it had saved more than 70 million lives since its creation in 2002. He said each dollar invested yields an estimated $19 in health and economic returns, adding that the…

By Atoyebi Nike The Central Bank of Nigeria (CBN) has raised alarm over the rising cost of printing and replacing naira notes due to careless handling by citizens. Speaking at the flag-off of a nationwide sensitisation campaign in Abuja, Deputy Governor of Operations, Dr. Bala Bello represented by Dr. Adedeji Adetona, Director of Currency Operations said the naira is not only a means of payment but also a symbol of national pride. “Folding, tearing, spraying at social events, writing on notes, and outright mutilation undermine the dignity of our currency and increase the cost of maintaining it,” Bello warned. He…

By Atoyebi Nike The Federal Government of Nigeria has signed a landmark Memorandum of Understanding (MoU) with DALIL Engineering Company of the United Arab Emirates (UAE) for the deployment of Advanced Cargo Information (ACI) systems across Nigerian airports. The agreement, sealed during a high-level mission to Abu Dhabi, was signed by Minister of Aviation and Aerospace Development, Festus Keyamo, who described it as a decisive step to reposition Nigeria as a leading aviation and logistics hub in Africa. Implementation will begin with feasibility studies in October 2025, followed by a nationwide rollout in the third quarter of 2026. Keyamo noted…

By Atoyebi Nike World football governing body, FIFA, is considering expanding the 2030 World Cup to 64 participating nations, according to fresh reports. The tournament, marking 100 years since the first World Cup in Uruguay in 1930, will be jointly hosted by Spain, Portugal, Morocco, Argentina, Uruguay, and Paraguay. Insiders revealed that Argentina may be allowed to host a full group stage instead of being limited to opening matches. Uruguay and Paraguay are also expected to host one group each, in recognition of their symbolic place in football history. The bulk of the competition nine groups would remain with Spain,…

By Atoyebi NikeThe European Union (EU) has reaffirmed its support for Nigeria’s updated Policy Framework and National Action Plan for Preventing and Countering Violence, pledging partnership in tackling insurgency and violent extremism. Speaking at a validation workshop in Abuja, EU Ambassador to Nigeria Gautier Mignot said the revised plan was crucial in addressing drivers of violence while protecting citizens’ rights. He stressed the importance of community-level implementation and youth empowerment to prevent extremist recruitment. National Counter Terrorism Centre Coordinator, representing National Security Adviser Nuhu Ribadu, described the review as a shared vision anchored on prevention and resilience. He noted that…

By Atoyebi NikeThe National Pension Commission (PenCom) has introduced new guidelines allowing Nigerians living abroad and dollar earners in Nigeria to save pensions in United States dollars. The policy, released in September 2025 under the Pension Reform Act 2014, permits Licensed Pension Fund Operators to accept and manage foreign currency contributions while ensuring strict compliance with transparency and anti-money laundering standards. Eligible participants include Nigerians in the diaspora, expatriates in Nigeria, and citizens earning salaries in dollars through international organisations or foreign companies. All contributions must be made in US dollars, with Retirement Savings Accounts created for participants. PenCom said…

By Atoyebi Nike The naira appreciated marginally against the British pound on Tuesday, closing at N2,011.32/£ at the official market compared to N2,014.9/£ the previous day. Against the dollar, however, the local currency slipped to N1,493/$ following earlier gains. The development came after the Central Bank of Nigeria (CBN) cut the Monetary Policy Rate (MPR) by 50 basis points to 27%, with Governor Olayemi Cardoso describing it as a “cautious attempt to ease monetary conditions” amid moderating inflation and stable exchange rates. The MPC also narrowed the asymmetric corridor around the benchmark rate to +250/-250 basis points. In the UK,…

By Atoyebi Nike The death toll from Friday’s deadly ambush on security operatives at Agu Centre, on the Katsina-Ala–Ukum border in Benue State, has risen to 11. Authorities confirmed on Monday that the bodies of eight missing officers were recovered, adding to the three initially declared dead. The casualties include 10 policemen and one member of the Benue State Civil Protection Guard (BSCPG). The joint team, comprising operatives from Operation Zenda, the BSCPG, and the Special Intervention Squad (SIS), reportedly encountered heavily armed invaders during the attack. Chairman of Katsina-Ala LGA, Dr. Justine Shaku, described the atmosphere in the area…

By Atoyebi NikeThe Jigawa State Government has approved N396 million for the purchase of 12,000 bags of fertiliser allocated to it by the Federal Government under a special intervention scheme. State Commissioner for Information, Youth, Sport and Culture, Sagir Musa, disclosed this on Tuesday in Dutse after the weekly executive council meeting. He said the fertiliser, supplied in 20 trucks at a subsidised rate of N33,000 per bag, would support the state’s 2025/2026 Dry Season Agricultural Programme. Musa explained that the intervention targets smallholder farmers, who form the backbone of Jigawa’s food production. He added that the move aligns with…

By Atoyebi NikeDeposit Money Banks in Nigeria are shunning the Central Bank’s Standing Lending Facility despite shrinking liquidity buffers, fresh data from the apex bank reveal. Between September 18 and 22, banks’ opening balances dropped sharply from ₦582.8bn to just ₦163.8bn, reflecting tightening liquidity pressures. Yet, no borrowings were recorded from the CBN’s SLF or repo windows, as lenders avoided the high costs of overnight borrowing. Instead, banks placed excess funds in the Standing Deposit Facility  ₦2.36tn on September 18, ₦1.45tn on September 19, and ₦1.69tn on September 22. Analysts say the trend underscores risk aversion, as lenders prioritise safety…