NEWS
Global Tariffs Tension: CBN Supports Forex Market with $197.71m
By Tony Obiechina Abuja
The Central Bank of Nigeria (CBN) has intervened in the foreign exchange (FX) market with an injection of $197.71m.
This was disclosed in a statement at the weekend by the Director of the Financial Markets Department, Dr.
Omolara Omotunde Duke, who reaffirmed the bank’s commitment to upholding market integrity and operational transparency.“In line with its commitment to ensuring adequate liquidity and supporting orderly market functioning, the CBN facilitated market activity on Friday, April 4, 2025, with the provision of $197.
71m through sales to Authorized Dealers,” the statement read.“This measured step aligns with the Bank’s broader objective of fostering a stable, transparent, and efficient foreign exchange market.”
The initiative demonstrates the CBN’s strategic approach to FX market stabilisation, particularly in view of recent global macroeconomic events that continue to affect Nigeria and other Emerging Market and Developing Economies (EMDEs).
The Apex Bank noted that recent policy shifts, such as new import tariffs introduced by the United States on goods from several economies, have led to adjustments across global financial markets.
Furthermore, the price of crude oil, Nigeria’s main export and source of income, has decreased by more than 12 per cent and is currently trading at about $65.50 per barrel.
Nigeria and other oil-dependent countries face difficulties as a result of this sharp fall, which has an immediate effect on market sentiment and exchange rate volatility.
Despite these challenges, the CBN expressed confidence in the resilience of Nigeria’s FX market framework, highlighting its ability to respond effectively to evolving economic fundamentals.
The Bank also reiterated its commitment to maintaining sufficient liquidity to support uninterrupted market activity.
The CBN urged all Authorised Dealers to strictly follow the guidelines outlined in the Nigeria FX Market Code, emphasising the importance of transparency and ethical behaviour in all interactions with clients and market counterparties.
NEWS
2027: I ‘ll Resign As Minister If Tinubu Loses FCT, Rivers – Wike
By Laide Akinboade, Abuja
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has declared that he will step down from his cabinet position if President Bola Tinubu fails to secure victory in both the FCT and Rivers State in the upcoming 2027 presidential election.
Speaking during an engagement with leadership and members of the Apo Mechanics and Traders Association in Abuja, Wike stated that his continued tenure as a cabinet minister is directly tied to his ability to deliver political results for the president in his primary areas of influence.
Setting a specific timeline, the Minister announced that should the ruling party lose in the FCT and Rivers State at the presidential poll scheduled for January 16, 2027, he will formally tender his resignation the very next day.
“If I cannot deliver where I work, then I’m not worthy to be here,” Wike said, emphasizing that his political mandate requires concrete electoral success.
“If I lose FCT, I’m not supposed to be FCT Minister. By January 17, 2027, I will announce my resignation as FCT Minister should the President lose in Rivers State and the FCT,” he stressed.
Outlining his political strategy for the territory, Wike revealed that the administration is building a multi-party coalition to secure victory across various elective offices in the FCT.
He explicitly endorsed candidates across legislative tiers while reiterating total support for the president’s re-election bid.
“Let us be clear on direction: for the Presidency, it is Bola Ahmed Tinubu! For the Senate, Philip Aduda is a man of the people, unlike those who only appear on television. The two House of Representatives candidates we are supporting are also here. They are former Area Council chairmen.
“In the FCT, we are running a unified coalition across parties to deliver results.
“If I cannot deliver FCT as Minister, then I am not qualified to hold this office. We have a firm agreement, and today is the final affirmation.”
The announcement comes amid ongoing efforts by the FCT Administration to resolve the long-standing relocation and land allocation exercise for thousands of traders and mechanics operating within the Apo Mechanic Village corridor.
NEWS
JAMB Extends Deadline for 2021–2025 Outstanding Admissions to Nov 30
The Joint Admissions and Matriculation Board (JAMB) has extended the deadline for candidates with outstanding admission offers from the 2021 to 2025 admission exercises to Nov. 30, 2026.
JAMB spokesman, Dr.
Fabian Benjamin, made this known in a statement on Wednesday in Abuja.Benjamin said the extension followed the temporary unavailability of the Central Admissions Processing System (CAPS) for about 96 hours.
He said the extension would give affected candidates a final opportunity to either accept or reject their outstanding admission offers.
“The Board has approved Nov. 30, 2026 as the final deadline for candidates in this category to indicate whether they wish to accept or reject their outstanding admission offers,” he said.
He recalled that the Board extended the deadline to Sept. 30, 2026, adding that the recent disruption to CAPS necessitated the further extension.
Benjamin warned that candidates who failed to act by Nov. 30 would no longer be allowed to accept or reject the outstanding offers within the current window.
“Any subsequent request to update an admission record relating to these previous years will attract the applicable penalty fee,” he said.
He said candidates whose admissions were not on the matriculation list could face difficulties accessing benefits, including participation in the National Youth Service Corps (NYSC) scheme.
The spokesman advised all affected candidates to take action before the deadline rather than wait until the last day.
He said candidates who accepted their offers would be able to print their admission letters, while those who rejected them would have their dashboards reverted to “Not Admitted”.
According to him, the process would enable JAMB to update its records and ensure that the national admission database accurately reflected candidates’ current status.
Benjamin said candidates no longer studying at the institutions where they were offered admission could accept the offer and later apply for correction or deletion, where applicable.
He added that candidates currently pursuing a second degree programme, but still having an unaccepted admission offer from a previous year could reject the old offer and continue with their current programme.
“Candidates who have been offered admission in the 2026 admission exercise but still have an outstanding admission offer from an earlier year have no cause for apprehension.
“Such candidates may reject the previous admission offer, and doing so will not affect their 2026 admission,” he said.
Benjamin said the extension was also aimed at helping JAMB maintain accurate and reliable national admission records.
He reiterated that Nov. 30, 2026 was the final deadline for accepting or rejecting outstanding admissions from the 2021 to 2025 admission exercises.
“At the expiration of the deadline, all outstanding admission offers from these years that have neither been accepted nor rejected will automatically revert to ‘Not Admitted’ status on the Board’s records,” he said.
He urged all affected candidates to take immediate action, stressing that failure to accept an admission offer within the stipulated period could render the offer invalid.(NAN)
NEWS
BIPC Board Inspects Taraku Mills Preparatory to Test Running
From Attah Ede, Makurdi
The Board of Directors of the Benue Investment and Property Company Limited (BIPC) has inspected the ongoing maintenance and rehabilitation works at Taraku Mills Limited, ahead of the planned test run of the factory.
The inspection, led by the Group Managing Director of BIPC, Dr.
Raymond Asemakaha, CFA, provided members of the Board with an opportunity to assess the level of work carried out at the facility and preparations for the commencement of operations.Conducting the Board around the factory, Dr. Asemakaha explained the progress made so far and assured that the facility would be test-run during the weekend as part of efforts to prepare the mill for full-scale production.
The Board Chairman, Lady Elizabeth M.N. Shuluwa, commended the GMD, the technical team and staff of Taraku Mills for their commitment and dedication towards restoring the facility to productive use.
Lady Shuluwa also expressed appreciation to the Benue State Governor, Rev. Fr. Dr. Hyacinth Iormem Alia, for his support and commitment to the revival of the state’s industrial assets.
She called on the people of Benue State to support the efforts to revive Taraku Mills and other state-owned industries, stressing the importance of collective ownership and support for initiatives aimed at creating jobs, boosting economic activities and improving the state’s industrial base.


