NEWS
Money Supply Hits N133.25trn as CBN Maintains Tight Monetary Stance
By Tambaya Julius, Abuja
Nigeria’s broad money supply (M3) increased for the second consecutive month, rising to N133.25 trillion in June 2026 from N129.21 trillion recorded in May, according to the latest Money and Credit Statistics released by the Central Bank of Nigeria (CBN).
The latest data showed that money supply expanded by N4.
04 trillion month-on-month, despite the apex bank’s decision to maintain its benchmark Monetary Policy Rate (MPR) at 26.5 per cent.The increase reflects the continued growth in liquidity within the economy, even as the CBN maintains a cautious approach aimed at controlling inflation, managing liquidity and sustaining macroeconomic stability.
Broad money supply, also known as M3, includes currency in circulation outside banks, demand deposits, savings and time deposits, as well as foreign currency deposits.
CBN figures also revealed a significant year-on-year growth in money supply, with M3 rising from N117.25 trillion in June 2025 to N133.25 trillion in June 2026.
This represents an increase of approximately N16 trillion, or 13.59 per cent, over the one-year period.
A breakdown of the statistics showed that M2, which comprises narrow money (M1), quasi-money, demand deposits and currency outside banks, rose to N133.24 trillion in June from N129.20 trillion in May.
The expansion in liquidity was largely driven by growth in quasi-money and domestic assets during the period under review.
Quasi-money increased from N84.58 trillion in May to N88.54 trillion in June, while demand deposits recorded a marginal rise from N39.43 trillion to N39.78 trillion.
However, currency held outside the banking system declined from N5.19 trillion in May to N4.92 trillion in June, indicating that more funds remained within the formal banking system.
Further analysis of the CBN data showed that net domestic assets grew by 4.37 per cent, rising from N102.26 trillion in May to N106.73 trillion in June.
Net foreign assets recorded a slight decline of 1.56 per cent, falling from N26.95 trillion to N26.53 trillion during the same period.
Overall, broad money supply expanded by 3.11 per cent month-on-month, highlighting sustained liquidity growth despite the CBN’s restrictive monetary policy measures.
The money supply figures came days after the apex bank retained the Monetary Policy Rate at 26.5 per cent at the conclusion of its 305th Monetary Policy Committee (MPC) meeting.
The committee also kept all other monetary policy parameters unchanged, signalling its commitment to sustaining the disinflation process while protecting macroeconomic stability.
Analysts noted that the continued rise in money supply presents a challenge for the CBN as it seeks to strike a balance between supporting economic activities, managing liquidity and preventing renewed inflationary pressures.
NEWS
Senate Committee Summons NSC, NFF Over Snub of Oversight Invitation
By Tambaya Julius, Abuja
The Senate Committee on Sports Development has criticised the National Sports Commission (NSC) and the Nigeria Football Federation (NFF) for failure to honour invitations to appear before it, warning that continued disregard for legislative oversight could attract disciplinary action.
The committee, chaired by Senator Abdul Ningi (Bauchi Central), expressed its displeasure during a meeting on Wednesday, describing the absence of officials from both organisations as unacceptable and an impediment to the committee’s constitutional oversight functions.
Ningi revealed that separate invitation letters were sent to the Chairman of the NSC, Mallam Shehu Dikko, and the Commission’s Director-General, Bukola Olopade, to remove any ambiguity over who should represent the agency before the committee.
He dismissed the explanations submitted by the Commission for its absence, insisting that they were unsatisfactory.
“The committee will not tolerate attempts to frustrate its constitutional oversight responsibilities,” Ningi said.
He warned that the repeated absence of senior officials was preventing the committee from effectively carrying out its legislative mandate, adding that such conduct could warrant disciplinary action by the Senate.
“It is becoming a practice that requires Senate disciplinary action against these agents of government,” he said, stressing that accountability must be upheld.
Committee members unanimously backed the chairman’s position, insisting that the leadership of both the NSC and the NFF must appear before the panel to explain issues relating to their finances and operations.
As part of its ongoing investigation, the committee directed the NSC to submit evidence of its approved budgets for 2023, 2024, 2025 and 2026, along with details of budget releases for the same period.
It also requested records of funds released to all sporting federations, including basketball, volleyball, boxing, judo and hockey, as well as evidence of statutory federal government subventions to the federations.
To verify the records, Sen. Ningi instructed the Clerk of the Committee to write to the Accountant-General of the Federation requesting comprehensive details of all funds released to the NSC from 2023 to date.
The committee further directed the NFF to provide detailed appropriations and releases for Nigeria’s participation in the 2025 Africa Cup of Nations (AFCON), as well as comprehensive expenditure records for the 2026 FIFA World Cup qualifying campaign and the Women’s Africa Cup of Nations (WAFCON).
Ningi said a new date would be communicated to the NSC and NFF for their appearance before the committee.
Addressing National Assembly correspondents after the meeting, the senator maintained that the attitude of both organisations was unacceptable.
He reiterated that the Constitution of the Federal Republic of Nigeria empowers the National Assembly to exercise oversight over all Ministries, Departments and Agencies of government, including the National Sports Commission and the Nigeria Football Federation.
NEWS
Yusuf Hails FG Suspension of NECO Fee Hike
From Rabiu Sanusi Kano
Kano State Governor, Alhaji Abba Kabir Yusuf, has applauded the Federal Government for suspending the proposed increase in the registration fees for the National Examinations Council (NECO) describing the decision as a timely intervention that will ease the financial burden on parents and ensure greater access to education for Nigerian students.
The Governor made the remarks during the official presentation of appointment letters to 4,900 newly recruited teachers and 3,688 ABBA Gida-Gida BESDA teachers at the Indoor Sports Hall of Sani Abacha Stadium in Kano.
He said the recruitment marks another major milestone in his administration’s commitment to rebuilding the state’s education sector through strategic investment in human capital.
Governor Yusuf reaffirmed that education remains the cornerstone of sustainable development, stressing that no society can achieve lasting progress without giving priority to learning.
He disclosed that his administration allocated 31 percent of the 2026 budget to the education sector, one of the highest allocations in the country, noting that the investment is already producing measurable results as Kano emerged the best-performing state nationwide in this year’s NECO examinations.
He described education without moral values as “a body without a soul,” emphasizing that the goal of his administration is not only to improve academic excellence but also to nurture disciplined, responsible and patriotic citizens.
According to him, the government is implementing comprehensive reforms to improve school infrastructure, enhance teaching quality and provide a conducive learning environment across the state.
The Governor urged the newly recruited teachers to discharge their duties with professionalism, integrity and commitment, reminding them that they have been entrusted with the responsibility of shaping the future of thousands of young learners.
He also commended teachers, education stakeholders and development partners for their unwavering support in advancing educational development across Kano State
Minister of Education, Dr. Maruf Tunji Alausa, described teachers as the bedrock of every prosperous nation, noting that quality education begins with committed and competent educators.
He commended Yusuf for making education a top priority through massive investments in schools, teacher recruitment and other developmental initiatives, describing Kano’s efforts as worthy of national recognition.
The Minister urged the newly recruited teachers to justify the confidence placed in them by serving with dedication, discipline and excellence. He stressed that their commitment would play a vital role in producing future leaders capable of driving Nigeria’s economic and social transformation.
In his remarks, the Kano State Commissioner for Education, Gwani Ali Haruna Makoda, said the success of any education system depends largely on competent teachers, adequate teaching and learning materials, and conducive infrastructure.
He reaffirmed the ministry’s commitment to sustaining ongoing reforms aimed at improving learning outcomes across the state.
The Executive Chairman of the State Universal Basic Education Board (SUBEB), Malam Yusuf Kabir, described education as a collective responsibility and appealed to wealthy individuals, development partners and community leaders to complement the government’s efforts in strengthening the education sector.
He also advised the newly recruited teachers to remain patient, disciplined and punctual in the discharge of their responsibilities.
The ceremony featured the formal presentation of appointment letters to 8,588 teachers, comprising 4,900 newly recruited primary and secondary school teachers and 3,688 ABBA Gida-Gida BESDA teachers, alongside colourful cultural performances by school pupils and entertainment by political musicians, bringing the landmark event to a memorable close.
NEWS
Mbah Advocates Experiential learning, Unveils Human Development Model
From Sylvia Udegbunam, Enugu
Enugu State Governor, Peter Mbah has called for a fundamental overhaul of Nigeria’s education system, urging schools to focus on producing problem-solvers and innovators rather than graduates armed only with certificates.
Speaking on Thursday while delivering the 55th Convocation Lecture of the University of Nigeria, Nsukka (UNN), Mbah said education must become the driving force for restoring human dignity through experiential learning, innovation and inclusive prosperity.
Delivering the lecture titled, “Restoring the Dignity of Man: Enugu’s Quantum Leap in Human Development and Inclusive Prosperity Through Experiential Learning,” the governor described UNN’s motto as a timeless mission whose relevance has become even greater in the era of artificial intelligence, biotechnology and the knowledge economy.
He argued that true development should be measured by citizens’ ability to transform knowledge into productivity and shared prosperity rather than by physical infrastructure alone.
“True dignity exists when people possess not merely the freedom to aspire, but the capability to transform aspiration into achievement, potential into productivity, and possibility into shared prosperity,” he said.
Mbah said Enugu’s education reforms were inspired by the Igbo apprenticeship system, which, according to him, embodies learning by doing, mentorship, trust, discipline and entrepreneurship.
“Our purpose is not to romanticize the past, but to apply its deepest principle to the future. This is why we embraced experiential learning—not as a foreign educational idea, but as a modern expression of our knowledge tradition and a twenty-first-century development imperative,” he said.
The governor explained that through experiential learning, the state seeks to democratise opportunities by ensuring that access to quality education, technology, healthcare, infrastructure, mentorship, capital and connectivity is no longer determined by birthplace, income or social status.
He disclosed that the Centre for Experiential Learning and Innovation (CELI), Enugu, is driving reforms in curriculum development, teacher training, research, digital literacy, technical education and industry partnerships to bridge what he described as the “activation gap” between knowledge and opportunity.
Mbah said his administration’s vision of growing Enugu’s economy from about $4.4 billion to $30 billion is anchored on human capital development rather than conventional infrastructure projects alone.
He noted that about one-thirds of the state’s annual budget has consistently been allocated to education, leading to the construction of 268 Smart Green Schools across the state’s 260 political wards, equipped with smart classrooms, laboratories, digital libraries, innovation studios, clinics, smart farms, solar power and internet connectivity.
According to him, over 23,000 teachers have undergone digital literacy training, while the state has approved the recruitment of 4,698 teachers to strengthen the Smart Green School initiative.
The governor added that students in the state’s Technical and Vocational Education and Training (TVET) colleges were already receiving practical industry training in ICT, mechatronics, aquaponics, precision welding, fashion and design through partnerships with industries, including the Enugu Haier Factory.
He also announced plans to establish three specialised universities dedicated to Artificial Intelligence and Technology, Education and Technology, and Agriculture, Agro-industrialisation and Technology, while new degree programmes in Automation, Artificial Intelligence and Mechatronics have already been introduced at ESUT and IMT.
To demonstrate the impact of experiential learning, Mbah narrated the story of Arinze Edeoga, a pupil of a Smart Green School in rural Owo community, who recently taught digital literacy to pupils in Enugu metropolis.
Mbah, however, said education reforms alone would not guarantee prosperity unless supported by investments in healthcare, electricity, roads, aviation, tourism and technology, stressing that Enugu’s development strategy integrates all sectors into a single human development architecture.
He cited projects such as the 300-bed Enugu International Hospital, the transport terminals, Enugu Air, the expansion of primary healthcare centre, the Enugu Command tourism infrastructure, and the proposed 660-megawatt power plant, as interconnected investments designed to unlock productivity, attract investment and improve citizens’ quality of life.
Mbah concluded by urging governments, universities, communities and the private sector to reject what he described as the “poverty of imagination,” insisting that the future belongs to societies willing to invest boldly in human capability.
Meanwhile, in their various remarks, the Vice Chancellor of UNN, Prof. Simon Ortuanya and Chairman of the event and former Minister of Power, Prof. Chinedu Nebo commended Mbah’s milestones in human capital development.
They noted that Mbah had, in three years, made a resounding impact in development across all sectors.
The event was attended by notable dignitaries, including the Deputy Governor of Enugu State, Barr. Ifeanyi Ossai; Deputy Speaker, Enugu State House of Assembly, Hon. Ezenta Ezeani; Minister of Innovation, Science and Technology, Dr. Kingsley Udeh and Catholic Bishop of Nsukka Diocese, Most Rev Godfrey Igwebuike Onah and Senator Ikeje Asogwa.


