By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN) has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment &Settlement System (PAPSS) in Nigeria.In a statement by the Acting Director of Corporate Communications, Hakama Sidi-Ali yesterday said that the initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.

Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBNoutlined the key changes to the documentation requirements associated with PAPSStransactions.According to the statement the key changes which will take immediate effect include, simplified Documentation for Low-Value Transactions: Customers may now use basic KYC and AML documents provided to their Authorized Dealer Banks (ADBs) for low-valuetransactions (USD2,000 and USD 5,000 equivalent in Naira for Individuals and corporate, respectively).Similarly, for transactions above the thresholds, all documentation as stipulated in the CBN Foreign Exchange Manual and related circulars remain mandatory.”Applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies”, the statement added.

From Mike Tayese, Yenagoa

Despite shooting that earlier heralded the venue of the Pro-Wike rally and the Inauguration of the New Associates in Bayelsa, the New Associates was finally inaugurated at Igbogene in Yenagoa, the Bayelsa state capital.Speaking during the inauguration ceremony, the Lead Convener of the Associates, George Turnah said he was disappointed by the actions of some Bayelsans who sent gunmen to shoot at fellow Ijaw people.

He condemned the act and described it as barbaric, saying how a fellow Ijaw man can send gun men to kill his fellow brothers and sisters. He said, “In 2019 the Southern governors met in Asaba and agreed that power should come back to the south, but some people after they have agreed decided to do another thing, but in all Tinubu from southern Nigeria became president. Now, Tinubu is not from my Party PDP but before we can get PDP party together, we must first of all get Nigeria as a party. Once a leader is elected he becomes the president of Nigeria and we are supposed to support our leader”.According to Turnah, opposition is not to plot for leaders to fail because if a leader succeeds it will benefit the people but if he fails the people will suffer. “Oppositions are to uphold leaders to deliver for the people. If oppositions discover that the leaders are doing well, they should not be in a hurry to change him. PDP when the time comes we will take our decision”.He reiterated the need to support President Tinubu and the FCT Minister, Nyesom Wike for the recommending and appointing Bayelsans into key offices including the ongoing East/West road. This Tinubu that has delivered us, it’s a friend that is better than a brother. We will support Wike”.According to him, almost all the south south governors are supporting Tinubu, saying it’s only Bayelsa that remains aloof. “I want to formally call on Governor Douye Diri to immediately announce his stand regarding the 2027 presidency, so that Bayelsans can know where they stand. If he is supporting president Tinubu,he should come out and tell us but if he wants to align with other vacancies let him tell us. Then we will know whether we will follow him to align or not, the leader that openly says he will support President Tinubu is Nyesom Wike “.”If our governor comes tomorrow and says Tinubu, we will work with him and if he say he does not support President Tinubu, we will galvanize support for president Tinubu to deliver him”.Speaking earlier, the chairman of the occasion Roland Sekibo said the NEW Associates have come to stay and appealed to Bayelsans to be part of the movement.”I have not seen any man that has done much for Ijaw people like Wike especially in Rivers state. He made it possible in the fourth republic to make sure an Ijaw man become the governor of Rivers state. I commended president Tinubu and Nyesom Wike for recommending and appointing Ijaw sons and daughters into key offices”.

From Ene Asuquo, Calabar

Cross River State Governor, Sen. Bassey Otu has maintained that the growing wave of defections to the All Progressives Congress (APC) is propelled by the sterling performance of President Bola Tinubu rather than political calculations.In a statement by his Chief Press Secretary, Nsa Gill, Governor Otu described the entrance of Governor Oborevwori into the APC as not just a political move but a thoughtful and courageous response to the growing aspirations for a better Delta State, a more prosperous Niger Delta, and a stronger Nigeria.

Otu emphasized that Cross River, which for years stood as the lone APC-governed state in the South-South, now proudly shares the progressive banner with Delta and Edo States, marking a new dawn of strengthened political realignment in the region.“An increasing number of South-South states under APC governance is a dream realized,” Governor Otu remarked, highlighting President Tinubu’s transformational leadership that has inspired trust, value reorientation, infrastructural rebirth, and economic rejuvenation across the nation.Describing the mass defection led by Governor Oborevwori — with former Governor Senator Ifeanyi Okowa and key PDP structures in Delta as a historic moment, Otu noted that it sets the stage for deeper regional collaboration, accelerated economic development, and greater political stability.As Vice Chairman of the South-South Governors’ Forum, Governor Otu urged Governor Oborevwori, other political stalwarts, and their supporters who have now joined the APC to bring their wealth of experience and grassroots mobilization strength to bear in advancing the collective quest for a flourishing South-South and a renewed Nigeria.“Your Excellency’s decision to board the progressive train is a profound testament to your commitment to inclusive governance, sustainable development, and national unity. I am confident that your leadership will further galvanize our collective resolve to deliver the dividends of democracy to our people and drive forward the Renewed Hope Agenda championed by President Bola Tinubu,” Otu declared.