NEWS
CBN Advocates Stronger Monetary/Fiscal Alignment to Deepen Financial Stability
By Tony Obiechina, Abuja
The Central Bank of Nigeria (CBN) has called for deeper alignment between monetary and fiscal authorities to strengthen the nation’s financial system and sustain ongoing macroeconomic gains.
Deputy Governor, Corporate Services, Emem Usoro, made the call on Thursday in Lagos in her keynote address at the 2025 Seminar for Finance Correspondents and Business Editors.
Usoro, who was represented by Acting.
Director, Corporate Communications Department said the call for enhanced coordination has become even more important as Nigeria continues to consolidate progress recorded from recent reforms, noting that improved policy synergy will promote discipline, transparency, accountability and stronger economic outcomes.She added that effective communication and accurate reporting by the media remain critical to ensuring public understanding of policy measures.
Reviewing the state of the economy when the current CBN leadership assumed office two years ago, the Deputy Governor said the macroeconomic environment was characterised by high inflation, naira instability due to forex scarcity, low external reserves and oil receipts, FX backlogs, and heavy reliance on ways and means financing.
According to her, these conditions weakened the financial system and underscored the urgency of reforms.
She explained that under Governor Olayemi Cardoso, the Bank adopted a sequence of orthodox, compliance-driven interventions to restore stability.
These included stronger corporate governance measures, tighter monetary policy, and the ongoing bank recapitalisation programme, initiatives aligned with the Federal Government’s broader economic reforms.
Usoro further noted that these actions have started yielding measurable results.
“Inflation has eased to 16.05 per cent, the exchange rate has stabilised below N1,500/$ with reduced volatility, while external reserves now exceed $46bn, providing more than 10 months of import cover”, she said.
The Deputy Governor pointed out that improving inflation dynamics are also supporting lower lending rates across the financial sector.
Usoro emphasised that although notable progress has been made, more work is needed to enhance economic resilience and improve living standards for Nigerians. Strengthened collaboration among fiscal authorities, regulators and the media, she stressed, will play a central role in achieving these objectives, particularly as digital finance and technological innovations continue to reshape the financial landscape.
She expressed appreciation to the Corporate Communications Department for organising the seminar and commended journalists for their continuous role in assessing, interpreting and disseminating CBN policies to the public.
She urged participants to generate actionable recommendations that will help deepen policy alignment and reinforce reform outcomes.
Usoro assured that the CBN will carefully analyse and consider the insights emerging from the seminar as part of efforts to sustain macroeconomic stability and advance the well-being of Nigerians.
Foreign News
Germany Overtakes U.S. as Top Buyer of Brazilian Coffee
Germany has become the world’s largest buyer of coffee from Brazil in 2025, overtaking the United States (U.S.), which slipped to second place after imposing steep import tariffs.
Germany imported 5.4 million 60-kilogram bags of Brazilian coffee last year, accounting for 13.
5per cent of Brazil’s total exports, the Brazilian coffee exporters’ association Cecafé said on Wednesday.The U.
S., traditionally Brazil’s largest coffee customer, fell to second place with imports of 5.3 million bags, down 33 per cent from the previous year.Márcio Ferreira, Cecafé head, said the decline was largely driven by temporary tariffs of up to 50 per cent imposed by U.
S. President Donald Trump.Ferreira said shipments to the U.S. fell by 55 per cent during the period from early August to late November when high tariffs were imposed on all Brazilian coffee varieties.
Trump had imposed tariffs on a range of Brazilian food products in response to criminal proceedings against former Brazilian president Jair Bolsonaro, a political ally of the U.S. president.
Bolsonaro has since been convicted and is serving a prison sentence of more than 27 years for attempting a coup.
As food prices in the U.S. rose, Trump largely rolled back the tariffs in November.
Brazil exported a total of 40 million bags of coffee last year, down about 20 per cent from the previous year.
In spite of the lower volume, export revenues jumped 24 per cent to a record 15.5 billion dollars.
Ferreira said weaker shipments also reflected lower stockpiles after record exports a year earlier and weather-related losses, adding that stronger global prices more than offset the decline.
Brazil is the only producing country that exports coffee to more than 120 countries and accounts for over one-third of the global market.
After Germany and the U.S., major buyers include Italy, Japan and Belgium.
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Foreign News
Over 4,500 People kill in Iran
Not less than 4,500 people have been killed in Iran since the outbreak of protests at the end of December.
Activists said on Wednesday, as new figures emerged.
The group said it had so far verified 4,519 deaths, with more than 9,000 additional cases still under investigation.
Those killed included 4,251 demonstrators and 197 security forces, HRANA said.
Iran’s internet shutdown remained in place, with only limited images slowly emerging that were beginning to reveal the full scale of the violent crackdown on the mass protests on Jan.
8 and 9.In their report, activists pointed to disturbing footage analyzed by medical professionals, who said that some of the demonstrators who were killed had previously received medical treatment.
The presence of medical equipment such as catheters and breathing tubes on bodies found outside medical settings has raised suspicions that injured protesters died after treatment had begun.
It also said the deaths would have occurred after the injured persons were removed from medical facilities without any formal confirmation of death, according to the report.
Iran’s leadership has blamed what it described as “terrorist elements” as well as its arch-enemies, the United States and Israel, for the violence during the protests.
The claims, however, cannot be independently verified, partly due to the ongoing communications blackout.
NEWS
PwDs are Contributors, Not Charity – NITDA
The National Information Technology Development Agency (NITDA) says Persons with Disabilities (PwDs) are contributors to national development, not beneficiaries of charity.
The Director-General of NITDA, Malam Kashifu Inuwa, said this on Tuesday in Abuja at a two-day PwD training’s closing ceremony.
The training was organised with the Inclusive Friends Association and SIMBED under NITDA’s Digital Literacy For All (DL4ALL) initiative.
DL4ALL targets 70 per cent digital literacy by 2027 and 95 per cent by 2030, focusing on inclusive digital capacity nationwide.
Represented by Mr Oladejo Olawumi, Inuwa said the training ensured digital literacy inclusivity for all citizens.
“We live in a world where digital technology defines how we learn, work, communicate and participate in society,” he said.
He said digital transformation remained incomplete if over 30 million Nigerians with disabilities were excluded.
“For many PwDs, the challenge is accessibility to websites, non-captioned videos and platforms incompatible with assistive technologies.
“These barriers limit opportunities, but PwDs are contributors to national goals, not charity beneficiaries,” Inuwa said.
He said empowered PwDs become innovators, entrepreneurs and leaders, driving productivity and innovation across sectors.
Inuwa said DL4ALL operates through three programmes, including the informal sector, which has trained over 480,000 Nigerians.
He added that the education sector and workforce programmes formed the other implementation pillars.
He urged stakeholders to design accessible programmes, invest in inclusive skills and actively listen to PwDs.
Inuwa encouraged participants to become ambassadors of digital inclusion and demand an ecosystem that worked for all.
SIMBED Chief Executive Officer, Mr Daniel Onunkwo, said the pilot trained 50 PwDs and would be expanded nationwide.
“We see this as a strong statement of inclusion, equity and national progress,” Onunkwo said.
He said SIMBED remained committed to creating opportunities and providing credible PwDs data for informed decision-making.
IFA Executive Director, Ms Grace Jerry, said digital discrimination differed from physical barriers, driving their inclusion advocacy.
Represented by Ms Tracy Agbamu, Jerry said digital skills would enable PwDs achieve financial independence and contribute economically.
A participant, Ms Eberechi Onyinyechi, said the training helped her understand PwD-friendly features on her device.
“From this programme, I now understand inclusive features on my device that support persons with disabilities,” she said.
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