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CBN Launches BVN for Nigerians in Diaspora

by Nelson Ugwuagbo May 14, 2025

written by Nelson Ugwuagbo

The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform, allowing Nigerians in the diaspora to obtain a BVN remotely without being physically present in the country.

The digital platform, introduced on Tuesday in Abuja, is designed to support the CBN’s goal of achieving $1 billion in monthly diaspora remittances—amounting to about $12 billion annually.

Speaking at the launch event, which drew stakeholders from the financial sector including chief executives of commercial banks, CBN Governor Olayemi Cardoso described the initiative as a significant step in Nigeria’s financial inclusion efforts and a vital link connecting the country to its global citizens.

Cardoso said the NRBVN would help reduce the high cost of remittances in Sub-Saharan Africa, which currently averages over seven percent. He added that lowering these costs would encourage the use of formal channels, improve security, and boost the impact of remittances on households and the broader Nigerian economy.

“For too long, many Nigerians abroad have faced difficulties accessing financial services at home due to physical verification requirements,” he said. “The NRBVN changes that. Through secure digital verification and robust Know Your Customer (KYC) processes, Nigerians worldwide should now be able to access financial services more easily and affordably.”

The CBN said it will continue to engage stakeholders to ensure the platform’s optimization and long-term success.

May 14, 2025 0 comments

Headlines

Senate Task Military Redeployment to Borno, Yobe Over Renewed Boko Haram Attacks

by Nelson Ugwuagbo May 14, 2025

written by Nelson Ugwuagbo

The Nigerian Senate on Tuesday called on the military to urgently redeploy personnel and advanced equipment to Borno and Yobe states in response to a resurgence of Boko Haram attacks in the North-East.

The resolution followed fresh insurgent assaults in the region, including the killing of more than a dozen soldiers in Marte, Monguno Local Government Area, on Monday, May 12, and another attack on Gajiram, headquarters of Nganzai Local Government Area, early Tuesday.

Raising a motion on the matter, Senate Chief Whip Tahir Munguno noted that although two-thirds of Borno’s local government areas were previously under Boko Haram control, a joint effort by the military and the civilian joint task force had reclaimed the territories.

He explained that the relative peace restored in the area had led to a shift in tactical military focus to the North-West, where security forces are currently battling banditry and kidnapping.

Munguno expressed concern over the evolving strategies of the insurgents, citing their use of modern technologies such as drones and an increase in improvised explosive devices, which have resulted in heavy civilian and military casualties, as well as the disruption of transportation routes.

The Senate, in its resolution, urged the military high command to promptly redeploy sufficient troops to the affected areas and ensure they are equipped with modern technology to counter the renewed threat. It also mandated its Committees on Army and Air Force to monitor the implementation of the directive.

May 14, 2025 0 comments

Headlines

FG increases driver’s license, number plate fee

by Folarin Kehinde May 13, 2025

written by Folarin Kehinde

Nigerians are expected to pay more for their vehicle and drivers license renewals and new ones even as the Joint Tax Board (JTB) has approved an increment in price.

The new price adjustment will be effective Sunday, 8th June 2025.

By this announcement, the JTB, being the apex body for revenue authorities in Nigeria, urges affected members of the public to take note of the new prices, and implores relevant government agencies and Motor Vehicle Licencing Authorities to comply with the price adjustment.

In an advertorial sighted in one of the national dailies, the new approved price for Motor Vehicle and Motorcycle number plates and driver’s licence as approved are as follows: Motor vehicle driver’s license for three years is N15,000 while for five years is N21,000. For tricycle/motorcycle drivers license, three years is N7,000 while five years is N11,000.

For number plates, the prices ranges in different categories and are as follow: Standard private vehicle number plate is N30,000; Standard commercial number plate, N30,000; Articulated vehicle number plate is N90,000; Dealer vehicle number plate is N100,000; Out of series number plate is N150,000; Fancy vehicle number plate is N400,000; Government standard vehicle number plate is N80,000; Government fancy vehicle number plate is N120,000.

The price adjustment, according to JTB, is due to the introduction of enhanced security features in the number plate and driver’s licence and incidental increase in production cost.

JTB stated that information on the price adjustment is on the Federal Road Safety Corps (FRSC) website,www.frsc.gov.ng and the Motor Licencing Authority (MLA) at States’ Internal Revenue Service offices, or Motor Vehicle Administration Authorities across the country.

They noted that the price adjustment applies nationwide. Apply for your driver’s licence and number plate on the National Vehicle Identification System portal at nvis.frsc.gov.ng or the Vehicle Licensing Authority nearest to you.

JTB also cautioned Nigerians to beware of touts and not pay more than the approved price.

May 13, 2025 0 comments

Headlines

Female broadcast journalist slumps, dies at work

by Folarin Kehinde May 13, 2025

written by Folarin Kehinde

A female broadcast journalist with Ogun State Television (OGTV), Abeokuta, Mrs. Bukola Agbakaizu, on Monday slumped and died while preparing for her afternoon shift at the state-owned television station.

Her death was confirmed by the Secretary of the Nigeria Union of Journalists (NUJ), Ogun State Council, Mr. Bunmi Adigun, in a statement issued in Abeokuta, Vanguard reports on Tuesday night.

The statement read: “Agbakaizu, a dedicated staff member of Ogun State Television, tragically collapsed while preparing for afternoon shift, and despite efforts to revive her, she was pronounced dead upon arrival at the Federal Medical Centre.”

Adigun described her as a versatile and passionate journalist.

A versatile journalist and a passionate comrade, Bukola served as a former Vice Chairman of OGTV Chapel and was an invaluable member of the Wale Olanrewaju-led Executive,” he said.

“Her vibrant spirit and commitment to journalism will be sorely missed, leaving an irreplaceable void in our community.”

Agbakaizu, aged 52, was an ex-officio of the NUJ Council until her death.

May 13, 2025 0 comments

Headlines

Federal Government to Close Ijora-Marine Bridge for 21-Day Repair

by Nelson Ugwuagbo May 13, 2025

written by Nelson Ugwuagbo

The Federal Government has announced the temporary closure of the Ijora-Marine Bridge in Lagos State for urgent repair works, scheduled to begin on Sunday, May 18.

According to a statement issued on Tuesday by the Federal Controller of Works in Lagos, Mrs Olukorede Kesha, the repairs will last for 21 days, starting from 7:00 a.m. on the commencement day.

Kesha stated that while some sections of the bridge will be fully closed to traffic, others will experience partial closures throughout the repair period.

The scope of work includes lifting the bridge deck to replace worn-out bearings and executing other critical maintenance tasks aimed at improving the safety and comfort of the bridge for motorists and pedestrians.

“We understand the inconvenience this may cause, but this is a necessary step to keep the bridge in good condition and ensure the safety of all road users,” Kesha said.

She added that traffic diversion measures have been put in place, and traffic officials will be deployed to manage the flow of vehicles and provide necessary guidance to motorists.

May 13, 2025 0 comments

Headlines

House of Reps Rejects Bill to Rotate Presidency Among Six Geopolitical Zones

by Nelson Ugwuagbo May 13, 2025

written by Nelson Ugwuagbo

The House of Representatives on Tuesday rejected a constitutional amendment bill seeking to mandate the rotation of the offices of the President and Vice President among the six geopolitical zones of the country.

The proposed legislation was one of seven constitutional alteration bills listed on the order paper for consideration. All seven were rejected.

However, the House resolved to revisit the bills individually on Wednesday and consider each on its own merit.

At the start of the session, the House had suspended its rules to allow concurrent debate on all seven bills, permitting members to choose any for discussion.

The bill on rotational presidency received the most attention, with a majority of lawmakers speaking against it. Many warned that mandating such rotation in the constitution could set a dangerous precedent.

Deputy Minority Leader Aliyu Madaki led the opposition, arguing that the Federal Character Commission already addresses issues of representation. He said the idea of rotation should not be constitutionalised but left to political parties, which have mechanisms to ensure equitable distribution of offices during elections.

May 13, 2025 0 comments

Headlines

World Bank Raises Concerns Over Nigeria’s 2025 Budget Assumptions

by Nelson Ugwuagbo May 13, 2025

written by Nelson Ugwuagbo

The World Bank has described Nigeria’s key assumptions for the 2025 national budget as overly optimistic, citing a significant gap between the projected figures and current economic realities.

In its May 2025 Nigeria Development Update, released on Monday in Abuja, the global financial institution raised concerns over the Federal Government’s projection of crude oil production at 2.1 million barrels per day (mbpd) and an oil price benchmark of $73 per barrel. The Bank noted that these projections are ambitious, given the current production level of 1.6mbpd and an average international price of $60 per barrel.

However, the Federal Government defended its position, stating that the assumptions reflect the country’s economic potential and are grounded in a forward-looking outlook.

The report presentation was attended by key government officials including the Minister of Finance, Wale Edun; Minister of Budget and National Planning, Atiku Bagudu; Minister of Communications, Innovation and Digital Economy, Bosun Tijani; Central Bank Governor, Yemi Cardoso; Governor of Plateau State, Caleb Mutfwang; and several private sector leaders.

Presenting the report, Dr. Alex Sienaert, Lead Economist at the World Bank Nigeria Country Office, acknowledged the Federal Government’s recent economic reforms, particularly the removal of petrol subsidies and the liberalization of the foreign exchange market.

He noted that while Nigeria’s macroeconomic indicators are largely positive, high inflation remains a pressing concern. He emphasized that for the country to reach its target of becoming a $1 trillion economy by 2030, its growth rate must accelerate to at least five times the current 3.8 percent.

The World Bank’s report also urged the government to remain committed to its reform agenda and warned that the 2025 budget could result in a wider-than-expected fiscal deficit if not properly managed.

Despite the challenges, the World Bank expressed cautious optimism about Nigeria’s fiscal outlook, provided that reforms are sustained and public investment in infrastructure and youth development is strengthened.

May 13, 2025 0 comments

Headlines

JAMB Engages Experts to Probe Alleged Glitches in 2025 UTME

by Nelson Ugwuagbo May 13, 2025

written by Nelson Ugwuagbo

The Joint Admissions and Matriculation Board (JAMB) has announced the engagement of leading IT specialists and educational assessment experts to investigate reported technical issues during the 2025 Unified Tertiary Matriculation Examination (UTME).

The decision follows widespread complaints from candidates who attributed the high failure rate in the recently concluded examination to alleged system malfunctions. Out of the 1.9 million candidates who sat for the exam, over 1.5 million reportedly scored below 200 out of a possible 400.

Reacting to the development, education advocate and Chief Executive Officer of Educare, Alex Onyia, revealed that thousands of affected candidates were preparing to initiate legal action against the examination body.

“Currently, we have 8,391 students who have sent in their complaints regarding the glitches in the JAMB 2025 exam,” Onyia stated via his official X (formerly Twitter) handle. “There is ample evidence to prove that JAMB’s system was inefficient, thereby causing serious harm to these students’ mental health.”

He further demanded transparency from the board, calling on JAMB to provide candidates with access to their mark sheets, including their scores, correct answers, and a means to contest discrepancies.

In response, JAMB’s spokesperson, Dr Fabian Benjamin, disclosed in a statement on Monday that the board had commenced a comprehensive post-examination review to assess the integrity of the 2025 UTME.

“As part of our system-wide audit, we have brought in experts from the Computer Professionals Association of Nigeria, Chief External Examiners from tertiary institutions, the Educational Assessment and Research Network in Africa, measurement specialists, and Vice Chancellors from various universities,” Benjamin said.

He explained that the review would cover all phases of the UTME process—from registration to result release—and assured that remedial actions would be taken if any faults were discovered.

“We take these concerns seriously. Should any lapses be confirmed, the board will not hesitate to apply appropriate corrective measures, in line with our established protocols,” he added.

May 13, 2025 0 comments

Headlines

Wike Warns PDP Cannot Defeat Tinubu in 2027 Without Zoning Reform

by Nelson Ugwuagbo May 13, 2025

written by Nelson Ugwuagbo

Minister of the Federal Capital Territory, Nyesom Wike, has declared that the Peoples Democratic Party (PDP) stands little chance of unseating President Bola Tinubu in the 2027 presidential election unless it urgently reviews its zoning structure.

Wike issued the warning on Monday during a live media session, expressing strong dissatisfaction over the party’s continued disregard for its constitutional guidelines on rotational leadership. According to him, the refusal to adhere to zoning principles—particularly in the selection of the party chairman and presidential candidate—played a key role in the PDP’s loss in the 2023 elections.

Reflecting on the previous electoral cycle, Wike criticized the emergence of both the party’s national chairman and presidential flagbearer from the northern region, saying it violated the party’s foundational practice of balancing leadership positions across zones. He warned that repeating such a strategy in 2027 would be disastrous.

“If the PDP isn’t careful, it will suffer the same fate. In 2023, we clearly advised that it was time to uphold our tradition—one zone cannot take both the chairman and the presidential ticket. But selfish interests took over, and the rules were ignored,” Wike said.

He further accused certain individuals within the party of manipulating internal processes to serve personal ambitions. He noted that the consequences of those actions included overconfidence and disunity, which contributed to the party’s failure at the polls.

“Before long, people had already purchased nomination forms without any agreement on zoning. When arrogance and selfishness take over, the system suffers. If we don’t learn from 2023 and commit to zoning the presidential ticket to the South, we will face the same outcome,” Wike warned.

His remarks come as former Senate President Adolphus Wabara inaugurated 41 new members into the PDP’s Board of Trustees, urging them to contribute to revitalizing the party.

Nonetheless, Wike insisted that unless the PDP takes decisive steps to correct past mistakes, its aspirations for 2027 may remain out of reach.

May 13, 2025 0 comments

Headlines

IPOB declares May 30 lockdown to remember Biafra heroes

by Folarin Kehinde May 12, 2025

written by Folarin Kehinde

…..set to disrupt ongoing WAEC exams

The Indigenous People of Biafra, IPOB, has declared a lockdown on May 30, 2025, to remember Biafran heroes and heroines who paid the ultimate sacrifice for the defunct Republic of Biafra.

The group stated that the lockdown is an annual memorial and remembrance day for Biafra heroes and heroines.

Spokesman of IPOB, Emma Powerful, said the event will feature memorial lectures honouring Biafran heroes, both at home and abroad, just like in earlier years.

The statement said, “The peak of the yearly memorial and remembrance event will occur on May 30th, 2025, known as the Biafra Heroes Memorial Day. It is a day designated by IPOB for Biafrans to commemorate and pay tribute to our heroes, heroines, and those who sacrificed their lives in the struggle for Biafra’s liberation and independence. The IPOB leadership has announced that May 30, 2025, will be a free day, marking a total lockdown for Biafrans residing in Biafran Land.

“Biafrans residing in Biafra land should observe a lockdown to pay tribute to those who battled and perished in the Nigeria genocidal war against Biafra while Biafrans fought for our independence. We need to commemorate them by spending one day indoors. We urge all Biafrans and every advocate of freedom in Biafra Land to comply with this one-day lockdown directive on May 30, 2025.

“All IPOB family members in their various countries must organize and obtain permits to demonstrate against the unlawful imprisonment of Mazi Nnamdi Kanu and the illegal detention of Nnamdi Kanu in Nigeria.

”There will be no school, no community meetings, no religious services, no opening of markets and stores, and no public assemblies of any kind. Simply stay inside and enjoy television and videos with your family while contemplating the memories and the genocide inflicted upon Biafrans from 1967 to the present day. It is a day for families to recount their experiences of the Biafran genocidal war from 1967 to 1970 and the ongoing victimisation, destruction, and marginalization of the Ndigbo within Nigeria.

“IPOB has contacted the West African Examination Council, WAEC, to inform them of the lockdown directive on 30th of May, so they can modify the May/June SSCE exams schedule to serve all students. Messages have also been dispatched to the Governors in the South East and South South Regions to notify them that we will remember and pay tribute to our heroes and heroines who sacrificed everything for us with a lockdown mandate on May 30, 2025.”

May 12, 2025 0 comments

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