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CBN To Impose Sanctions On Banks, Says Governor Cardoso

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CBN To Impose Sanctions On Banks, Says Governor Cardoso....KINDLY READ THE FULL STORY HERE▶

In a bid to overhaul Nigeria’s banking sector, Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has unveiled plans for rigorous regulatory measures aimed at addressing infractions within the banking system……..CONTINUE READING

Addressing the press at his inaugural Monetary Policy Committee meeting since assuming office in September 2023, Cardoso disclosed ongoing investigations into banks involved in regulatory violations.

The move underscores the CBN’s commitment to fortifying the integrity and stability of the nation’s financial sector, with a focus on implementing stringent regulations, particularly concerning the foreign exchange market.

While affirming positive developments in Nigeria’s foreign reserves, which rose to $34 billion as of February 20, Cardoso acknowledged the depreciation of the Nigerian currency following policy adjustments by the new administration.

Amid efforts to promote transparency and efficiency in the foreign exchange market, Cardoso assured a transition towards a “very aggressive regulatory environment” to address issues such as arbitrage activities facilitated by banks and Bureau De Change operators (BDCs).

He emphasized zero tolerance for non-compliance with regulations and underscored ongoing collaborations between the CBN and law enforcement agencies to swiftly address market infractions.

Furthermore, Cardoso reiterated the CBN’s commitment to resolving the backlog of identified and genuine FX requests, affirming the payment of $400 million towards this end.

Reflecting on the suspension of intervention programs and loans, Cardoso highlighted concerns regarding their potential adverse effects on the economy, stressing the need for caution to prevent distortions.

As the CBN intensifies efforts to strengthen regulatory oversight and restore public confidence, Cardoso emphasized the imperative of upholding regulatory compliance and ensuring market integrity.

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“Gone Too Soon!” Grief Grips The Nation As Federal Commissioner Ukam Mourns NPC Chairman Yusuf.

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Bishop Alex Ukam, the Federal Commissioner representing Cross River State at the National Population Commission (NPC), has expressed deep sorrow over the passing of NPC Chairman Dr. Aminu Yusuf, who died on Friday, August 28, 2026.....KINDLY READ THE FULL STORY HERE▶

In his tribute, Ukam noted that the chairman’s untimely death came as a profound shock to both himself and the entire Commission, especially given Yusuf’s vibrant energy and deep commitment to moving the agency forward. He emphasized that the late chairman’s passing is particularly heartbreaking due to the ambitious plans and visions he held for the institution’s future, having already shown immense promise for purposeful leadership during his brief tenure.

Mourning Yusuf as an impactful team player who consistently showed care, support, and goodwill toward his colleagues, Ukam extended his heartfelt condolences to the bereaved family, staff, and management of the NPC. Describing him as a “rare gem,” the commissioner urged everyone to accept the loss as the will of the Almighty, while offering prayers for the forgiveness of the deceased’s shortcomings, the peaceful repose of his soul, and the strength for the family, colleagues, and the nation to bear the tragic vacuum left behind.

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“BIG PROMOTION STORM!” FRSC Elevates 104 Officers In Ekiti With A Fiery Corruption Warning.

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The Federal Road Safety Corps (FRSC) Ekiti State Command recently decorated 104 newly promoted personnel, consisting of 25 officers and 79 lower ranks, across simultaneous ceremonies held at the State Headquarters and various Unit Commands.....KINDLY READ THE FULL STORY HERE▶

During the decoration events, Ekiti State Sector Commander Sanya Adeoye extended his congratulations to the elevated staff while expressing gratitude to Corps Marshal Shehu Mohammed for approving the promotions. Adeoye emphasized that the advancement brings heightened responsibilities, urging the officers to honor the vision of the Corps’ founding fathers by displaying unwavering discipline, rejecting corruption, and adhering strictly to professional ethics.

He further tasked the personnel with staying fully committed to the FRSC’s primary mission of minimizing road accidents and fostering a sustainable safety culture across Nigeria. Offering encouragement to those omitted from this promotion cycle, Adeoye reminded them that advancement comes from God and urged them to maintain dedication to their duties.

In closing, the Sector Commander appealed to the general motoring public to diligently follow traffic laws, particularly with the heavier traffic volumes expected as the ember months approach.

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“YOU CAN’T REOPEN WHAT ISN’T CLOSED!” Tinubu’s Minister Fires Back At Atiku In A Brutal Political Clash

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Minister of Interior Hon. Olubunmi Tunji-Ojo has responded to former Vice President and African Democratic Congress (ADC) presidential hopeful Atiku Abubakar’s 2027 campaign pledge to reopen Nigeria’s land borders and reinstate fuel subsidies to boost regional trade.....KINDLY READ THE FULL STORY HERE▶

Addressing Atiku’s remarks regarding long-standing border closures and trade disruptions, the Minister—whose portfolio oversees the Nigeria Immigration Service—clarified that the nation’s borders are not actually closed and therefore cannot be reopened.

Detailing the timeline of past and recent reopenings, Tunji-Ojo noted:

  • Key crossings like Seme, Illela, Maigatari, and Mfum were reopened on December 16, 2020.

  • Idiroko and Ikom resumed commercial operations on April 20, 2022.

  • Kebbi State’s Kamba and Tsamiya borders—connecting to Benin and Niger Republics—were reopened under the current administration in February 2026.

Addressing specific references to borders shared with Chad, Cameroon, Niger, and Benin, the Minister explained that long-term closures at crossings like Banki and Amchidé stem from security measures introduced in 2014 to combat Boko Haram, rather than the 2019 trade regulations. He pointed out that Fotokol and Gambaru subsequently reopened in 2021 following joint regional security stabilization efforts. Conflating counter-insurgency security protocols with trade regulations misrepresents the facts.

Tunji-Ojo added that certain northern crossings maintain tighter restrictions as a calculated security safeguard against banditry and residual insurgency, protecting local communities and traders from heightened risks rather than representing neglect. Modern border management requires balancing security, rigorous documentation, customs compliance, and controlled trade rather than choosing between absolute closure and unmonitored movement.

Concluding his statement, the Minister urged political figures to avoid rewriting recent history, challenging Atiku to present a distinct alternative policy rather than conflating independent trade, security, and infrastructure challenges.

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