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CBN Governor Cardoso, shared strong signals of progress in Nigeria’s financial system

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CBN

CBN Governor Cardoso, shared strong signals of progress in Nigeria’s financial system

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, shared strong signals of progress in Nigeria’s financial system.

Bank Recapitalisation Update
– 20 banks have fully met the new minimum capital requirements.
– 13 others are at advanced stages and expected to conclude within the timeline.
– Total verified capital raised so far: ₦4.05 trillion
• ₦2.90 trillion (71.67%) domestic
• US$706.84 million (₦1.15 trillion, 28.33%) foreign

This balanced participation reflects broad investor confidence. Institutions under regulatory intervention remain under close oversight, with depositor funds secure.

External Reserves & Macroeconomic Stability
Nigeria’s gross reserves reached $50.45 billion (mid-February 2026), the highest level in 13 years. Favourable trade dynamics, a healthy current account surplus, rising non-oil exports, diaspora remittances, and renewed market confidence drive this growth.

CBN

CBN

Inflation & Policy Direction
The downward inflation trend reflects the sustained impact of contractionary monetary policy, FX stability, strong capital inflows, and improvements in the balance of payments. Tightening measures continue to anchor expectations.

The CBN is also strengthening cybersecurity and operational risk standards across fintechs, building a more resilient financial ecosystem.

The Governor has urged all stakeholders to ensure discipline in the quest for sustainable growth.

Economy

CAS Kelvin Aneke Congratulates Air Vice Marshal Eyekosi On Book Launch

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CAS Kelvin Aneke Congratulates Air Vice Marshal Eyekosi On Book Launch

CAS Kelvin Aneke Congratulates Air Vice Marshal Eyekosi On Book Launch

CAS Kelvin Aneke congratulates Air Vice Marshal Eyekosi on book launch. The Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, has congratulated Air Vice Marshal Sampson Eyekosi on the successful launch of his book, Managing the Displaced, on behalf of all officers, airmen, airwomen and civilian staff of the Nigerian Air Force.

Represented by the Chief of Administration, Air Vice Marshal A. Martins, the CAS described the publication as timely and aligned with the Service’s enduring commitment to strategic leadership, operational excellence and comprehensive approaches to national security.

The book, which explores practical frameworks for addressing displacement within conflict and post-conflict environments, reinforces the NAF’s philosophy of purposeful leadership and mission-oriented innovation.

CAS Kelvin Aneke Congratulates Air Vice Marshal Eyekosi On Book Launch

CAS Kelvin Aneke Congratulates Air Vice Marshal Eyekosi On Book Launch

AVM Eyekosi’s scholarship exemplifies the Air Force’s commitment to leveraging air power in support of humanitarian response, strengthening national security and advancing sustainable development.

The launch underscores the Nigerian Air Force’s continued dedication to intellectual capacity, professional development and integrated solutions to evolving security challenges.

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Economy

NNPC, NMDPRA strengthen Collaboration To Bolster Nigeria’s Energy Security

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NMDPRA

NNPC, NMDPRA strengthen Collaboration To Bolster Nigeria’s Energy Security

NNPC, NMDPRA strengthen collaboration to bolster Nigeria’s energy security. Earlier today, GCEO NNPC Ltd, Engr. Bashir Bayo Ojulari paid a courtesy call on the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) at the Authority’s Headquarters in Abuja.

During the visit, both organisations renewed their commitment to sustain collaboration towards strengthening Nigeria’s energy security, promoting collective national prosperity, and delivering on the Presidential mandate for enhanced oil production, gas utilisation, expanded refining capacity, and investment attraction.

In his remarks, Ojulari stated that NNPC Ltd.’s strategic focus is anchored on disciplined execution and operational excellence, stressing that profitability remains the guiding mantra of the company’s commercial operations. He explained that the 2026 NNPC Gas Master Plan is a deliberate intervention designed to stimulate increased gas off-take and deepen value creation across the downstream value-chain.

NMDPRA

NMDPRA

Responding, the Authority Chief Executive, Engr. Saidu Aliyu Mohammed pledged the Authority’s continued partnership with NNPC Ltd. to drive initiatives that will guarantee Nigeria’s energy security.

He particularly commended the recent launch of the NNPC Gas Master Plan 2026, noting that while gas remains Nigeria’s cleaner transition fuel, a balanced energy mix is essential to meeting the country’s growing demand.

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Tinubu Approves Additional Federal Road Projects

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President Tinubu Orders Review Of Revenue Deductions By Federal Agencies

Tinubu Approves Additional Federal Road Projects

Tinubu approves additional federal road projects. President of the Federal Republic of Nigeria, His Excellency Senator Bola Ahmed Tinubu, GCFR, has approved the immediate reconstruction of the following federal roads in Niger State:

1. Mokwa–Bida Road (120km)
2. Mokwa–Makeri Road (63km)
3. Bida–Labata Road (123.5km)

The three projects total 306.5 kilometres and will be reconstructed using reinforced concrete pavement to ensure durability and long-term value.

Mr. President has also approved the extension of the Bodo–Bonny Road to connect with the East–West Road. The project will be executed on a dual carriageway capacity, constructed with concrete pavement, and equipped with solar-powered street lighting. The project will be delivered through a competitive bidding process.

The Honourable Minister of Works, His Excellency Senator Engr. David Umahi, CON, has expressed deep appreciation to Mr. President for these strategic approvals, noting that the projects fall within critical national economic corridors and will significantly enhance connectivity, trade, and development.

He called on Nigerians to acknowledge and appreciate the administration’s sustained commitment to infrastructure development across the six geopolitical zones, particularly in the delivery of quality roads and bridges nationwide.

President Tinubu Orders Review Of Revenue Deductions By Federal Agencies

President Tinubu

The Minister congratulated the governors and good people of Niger and Rivers States, as well as all Nigerians who stand to benefit from these landmark approvals.

He urged Nigerians to continue to support, encourage, and pray for Mr. President as the administration remains focused on delivering dividends of democracy to the people.

Together, we can.

Francis Nwaze, FIPMD
Senior Special Assistant to the Honourable Minister of Works (Media)

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