According to the Central Bank of Nigeria (CBN), diaspora remittance inflows processed via International Money Transfer Operators (IMTOs) hit $947 million in July 2026, marking the highest monthly total ever documented through formal financial networks. This record-breaking figure demonstrates major headway toward the $1 billion monthly target championed by CBN Governor Olayemi Cardoso. Furthermore, IMTO inflows climbed to $3.8 billion during the first seven months of 2026—a 50.2 percent surge compared to the same timeframe in 2025—underscoring a robust consolidation of formal channel transfers.....KINDLY READ THE FULL STORY HERE▶

All Progressives Congress (APC) National Chairman Nentawe Yilwatda has cautioned that former Vice-President Atiku Abubakar’s proposal to reinstate the petrol subsidy could trigger a return of crippling fuel queues and undermine the financial capacity of governments to sustain current minimum wage payments. Yilwatda made these remarks in Abuja while hosting a delegation of economic stakeholders who gathered to converse about national economic progress, ongoing policy reforms, and sustainable growth paths.....KINDLY READ THE FULL STORY HERE▶

Atiku, who serves as the African Democratic Congress (ADC) presidential candidate, had previously declared his intention to bring back the petrol subsidy should he win the presidency in 2027, while also criticizing the current administration for failing to transparently account for savings generated by the subsidy removal. President Bola Tinubu initially scrapped the subsidy on May 29, 2023, a move that spiked pump prices and amplified the cost of living. Urging citizens to look past any short-term relief at the pump, Yilwatda stressed that the true burden of a subsidized regime falls on government revenues and critical spending.

Elaborating on the broader fiscal implications, Yilwatda noted that eliminating the subsidy has successfully boosted federal allocations to states, significantly strengthening sub-national finances that previously struggled with partial or delayed salary and pension payments. He warned that any move to resurrect the policy threatens both infrastructural funding and the consistent payment of higher wages, while also risking a relapse into the chronic university disruptions and underfunding of education witnessed under past administrations.

Before Justice Friday Ogazi of the Federal High Court in Lagos, the National Drug Law Enforcement Agency (NDLEA) arraigned a Brazil returnee, Abugu Oliver Ikechukwu, on Friday. The defendant was accused of unlawfully importing 6.1 kilograms of cocaine on June 11, 2026, at Gate 2 of the Arrival Hall, Terminal 2 of the Murtala Muhammed International Airport in Ikeja, Lagos. According to prosecutor Abu Ibrahim, the illicit substance was discovered during passenger clearance on an Ethiopian Airlines flight arriving from Brazil via Addis Ababa, with the cocaine cleverly immersed and soaked into towels and other apparel. The alleged offense violates Section 11(a) of the NDLEA Act, Cap. N30, Laws of the Federation of Nigeria, 2004.....KINDLY READ THE FULL STORY HERE▶

Upon the reading of the charge, the defendant entered a plea of not guilty. While the prosecution requested a trial date and a remand order, defense counsel Benson Ndakara informed the court that a bail application had already been filed and served. Due to the court’s heavy schedule, the bail application could not be heard immediately. Consequently, Justice Ogazi ordered the defendant remanded in Nigerian Correctional Services (NCoS) custody until September 9, when the court will hear the bail application.