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CBN Reduces Number of Licensed BDCs to 82 Under Revised Guidelines

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The Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureau De Change (BDCs) to operate with effect from Nov. 27.

A statement issued in Abuja on Monday by Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, stated that the exercise was in line with its powers conferred under the Bank and Other Financial Institutions Act (BOFIA) 2020.

According to Sidi-Ali, it is also an enforcement of the Regulatory and Supervisory Guidelines for BDC Operations in Nigeria 2024,

“By this notice, only BDCs listed on the Bank’s website are authorised to operate from the effective date.

“The CBN will continue to update the list of BDCs with valid operating licences for public verification on our website (www.cbn.gov.ng).

“The Bank advises the general public to avoid dealing with unlicensed foreign exchange operators,” she said.

She said that operating a BDC business without a valid licence was a punishable offence under Section 57(1) of the BOFIA 2020.

She advised members of the public to note and be guided accordingly.

Recall that at one point there were about 5,690 BDCs operating across Nigeria.

But on March 1, 2024, the CBN revoked the licences of 4,173 BDC operators for regulatory non-compliance. After that revocation, the number of licensed BDCs dropped to around 1,517.

Education

Kaduna council boss pays WAEC fees for 250 indigent students

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 The Chairman of Jema’a Local Government Area of Kaduna State, Mr Peter Tanko, has paid the 2026 West Africa Examination Council (WAEC) registration fees for 250 indigent students in public Secondary Schools.

Speaking at the inauguration of the WAEC fee payment exercise in Kafanchan, Tanko said that the gesture was borne out of his compassion to support less privileged students.

According to him, no child should be denied the opportunity to access education because of lack of funds.

He reiterated his commitment to initiating policies and programmes that would have direct bearing on the lives of the people.

In his remarks, the Commissioner for Humanitarian Affairs, Mr Yunana Barde, lauded the council chairman for placing premium on  educational development of his people.

Barde said that the importance of education to societal development could not be overemphasised.

Also speaking, Audu Dogara, the council’s Education Secretary, described the intervention as an investment in the children and the future of the local government.

He admonished the beneficiaries to see the gesture as an opportunity for them to give their best in the examination.

Mr Emmanuel Utung,  Chairman of the WAEC Sponsorship Committee, said that the beneficiaries cut across the 12 wards of the local government.

According to him, the gesture would go a long way in easing the financial burden on the beneficiaries’ parents.

Miss Benedicta Boniface, who spoke on behalf of the beneficiaries,  thanked the chairman for his magnanimity and promised that they would not disappoint him.

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Replacing Shettima will Jeopardize Tinubu’s Reelection – APC Chieftain Warns

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A chieftain of the All Progressives Congress, APC, Abayomi Mumuni, has warned against any attempt to replace Vice President Kashim Shettima on religious grounds ahead of the 2027 general elections

Mumuni said this on Wednesday in reaction to the controversies erupting from the omission of Vice President Shettima’s photograph from a banner displayed at the North-East Zonal Public Hearing on the amendment of the APC constitution.

According to him, the North presently lacks a Christian candidate with the political clout and followership needed to deliver substantial electoral support.

He said the idea of dropping Shettima could undermine the APC’s chances of retaining power.

There have been speculations about a possible plan to drop Shettima from the party’s 2027 presidential ticket.

Mumuni further said that discussions about replacing Shettima with a Christian vice-presidential candidate, ostensibly to address concerns about religious inclusivity, are not strategically sound in the current political climate.

According to him, the northern region currently lacks a Christian candidate with sufficient grassroots support and nationwide appeal to complement President Bola Tinubu’s electoral strength.

“Any miscalculation in this regard could jeopardise the winning ticket for the current administration,” he warned.

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Why We Suspended Investment in Oil Exploration in Senegal – Oranto Petroleum

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…Says it Has Committed Over US$45 Million in Expenditures in Senegal

By Mike Odiakose, Abuja

The management of Oranto Petroleum, the firm owned by Nigerian billionaire and philanthropist Prince Arthur Eze, has shed light on why it suspended any further investments in the St Louis & Cayar Licenses in Senegal.

The Senegalese government had in January 2026 officially revoked an offshore oil exploration license held by Atlas Oranto Petroleum.

The Senegalese government alleged that the holder had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded.

Responding to the revocation of the license, the management of Oranto Petroleum declared the government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.

According to the management, “till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract.

“Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa.”

The company expressed reservations on why the Senegalese government will single it out for false narratives which it classified as “unfair, unjustified and targeted.”

Part of the statement read: “Oranto Petroleum would like to use this opportunity to respond to the false narrative currently being perpetuated by the Government of Senegal on the St Louis & Cayar Offshore Licenses previously operated by Oranto Petroleum.

“As a matter of fact, Oranto Petroleum in 2025 decided to suspend any further investments in the St Louis & Cayar Licenses in Senegal after the Government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.

“For record purposes, till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract. These records exist and can be fact checked.

“It is worth mentioning that for reasons best known to the Government of Senegal, Oranto Petroleum has been singled out in this false narrative – this we classify as unfair, unjustified and targeted.

“We would like to use this opportunity to state that other foreign entities operating in Senegal are also facing challenges doing business in Senegal and this calls for concern.

Some of those include: Woodside currently in court of Arbitration with Government of Senegal on issues bothering
around back costs for the Sangomar Development –
https://www.africabusinessplus.com/en/829378/woodside-vs-dakar-arbitration-proceedings-can

2. Alleged plans by the Government of Senegal to nationalise Kosmos-run Yakaar-Teranga Gas
Project – https://www.reuters.com/business/energy/senegal-plans-nationalise-kosmos-run
yakaar-teranga-gas-project-2025-12-10/
and 3. British Petroleum’s exit from Senegal over disagreement with Government – https://www.offshore
technology.com/news/bp-exits-senegal-gas-field/

“It is worth noting that Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa.

“OrantoPetroleum as per business model remains an early explorationist focused on acreage derisking and later stage development in collaboration with third party Operators.

“Oranto Petroleum remains respectful for the rule of law in all jurisdictions where it operates and urges the public to disregard any narratives that continuously focuses on demarketing African investment opportunities geared towards the greater good of Africa and her citizens.

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