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CBN Adopts New Interest Rate Benchmark.
The Central Bank of Nigeria (CBN) has introduced a new benchmark known as the Nigerian Overnight Financing Rate (NOFR) to guide the country’s money market and improve transparency in financial transactions.....KINDLY READ THE FULL STORY HERE▶
The announcement was made on Friday through the Acting Director of Corporate Communications, Hakama Sidi-Ali, who said the initiative was developed in partnership with the Financial Markets Dealers Association to strengthen Nigeria’s financial system.
According to the apex bank, the new benchmark is designed to align Nigeria with global standards for short-term interest rate pricing, improve price discovery, and ensure more transparent and consistent valuation of money market instruments.
The CBN explained that NOFR will also enhance monetary policy effectiveness, support financial innovation, and boost investor confidence while improving risk management across the financial sector.
It noted that the rate now places Nigeria alongside global benchmarks such as SOFR in the United States and SONIA in the United Kingdom.
The bank added that NOFR is based strictly on actual overnight interbank transactions and is calculated daily using a volume-weighted trimmed mean approach to ensure accuracy and reliability.
While the CBN will serve as the benchmark administrator, it clarified that the rate is not a monetary policy tool and does not replace the Monetary Policy Rate. Instead, it will serve as a reference for pricing financial products and contracts in the market.
The apex bank also said retail lending rates may not change immediately, but the new system is expected to strengthen long-term confidence and stability in the financial system.
The Joint Admissions and Matriculation Board (JAMB) has announced the release of 632,788 results for candidates who sat for the 2026 Unified Tertiary Matriculation Examination (UTME) held on April 16.....KINDLY READ THE FULL STORY HERE▶
In a statement signed by its spokesperson, Fabian Benjamin, the Board advised candidates to check their results by sending “UTMERESULT” via SMS to 55019 or 66019 using the same phone number used during registration.
JAMB stated that candidates can currently only view their results, adding that printing of result slips will be activated later.
The Board also warned candidates against tampering with or falsifying result messages obtained through official channels, describing such actions as a serious criminal offence.
It revealed that enforcement measures are already underway, with some individuals arrested for alleged result manipulation using digital tools.
According to JAMB, further results will be released in batches as processing continues.
Candidates participating in the ongoing 2026 Unified Tertiary Matriculation Examination (UTME) have been advised on how to properly check their results.....KINDLY READ THE FULL STORY HERE▶
The Kano State chapter of the All Progressives Congress (APC) has reaffirmed its support for President Bola Ahmed Tinubu, dismissing reports claiming the party has withdrawn backing for his second-term ambition.....KINDLY READ THE FULL STORY HERE▶
In a statement dated April 17, 2026, and signed by State Publicity Secretary Auwalu Abdullahi Soja, the party described the alleged announcement by a group known as the Arewa APC Forum (Kano Chapter) as false and misleading.
The APC said the claim was a deliberate attempt to create confusion and damage the image of the party, stressing that no recognised structure within the party in Kano had taken such a decision.
It further stated that the so-called group does not represent the views or interests of APC members in the state and is not recognised within the party hierarchy.
The statement also reaffirmed full confidence in President Tinubu’s leadership, noting that his administration remains focused on economic reforms, governance, and national development.
The party urged members and the public to disregard the rumour, describing it as the work of individuals attempting to cause unnecessary tension within its ranks.
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