Author: Vardiafrica

Nigeria’s gross external reserves have climbed to $50.45 billion as of February 16, 2026, the highest level recorded in 13 years, according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this on Tuesday while briefing journalists at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja. He said the surge in reserves reflects strengthening macroeconomic fundamentals and growing investor confidence in the country’s policy direction. “Gross external reserves rose significantly to $50.45 billion as of February 16, 2026, the highest in 13 years. This provides an import cover of 9.68 months…

The Central Bank of Nigeria has cut the interest rate by 50 basis points to 26.50 percent from 27 percent. Nigeria’s apex bank announced this during its 304th Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday. The CBN Governor, Olayemi Cardoso, said all members of the MPC unanimously agreed upon the decision. “The committee decided to reduce the monetary policy rate by 50 basis points to 26.50 percent,” he said. Cardoso stated that the liquidity ratio was maintained at 30 percent, and the standing facilities corridor was adjusted to +50 to -450 basis points around the monetary policy…

In continuation of the ongoing recruitment of Constables into the Nigeria Police Force, all candidates who successfully completed the online recruitment registration exercise are hereby notified that physical and credential screening have been scheduled to hold between 9th March, 2026 and 18th April, 2026, across the federation. Applicants are requested to login to the recruitment portal: npfapplication.psc.gov.ng, to check their status and print the following documents which they must present at the screening venue on the date and time indicated in their Invitation Slip:(i). Guarantors form;(ii). Application Submission Slip;(iii). Invitation Slip;(iv). Credentials Screening Form;(v). Physical Screening Form. Consequently, items to…

The Inspector General of Police, Kayode Egbetokun, has resigned from his appointment. Egbetokun, whose appointment as the Inspector General was extended by one year in 2025 by President Bola Tinubu, turned in his resignation letter on Tuesday, citing personal family reasons for his action. Presidential spokesperson, Mr Bayo Onanuga, confirmed to Journalists upon enquiries that the IG has resigned. He also said, “A statement will be issued later in the day to this effect”. According to Mr Onanuga, “Egbetokun resigned today. He was not sacked. Statement will be issued later”. Details Later

The Bayelsa State House of Assembly has approved the appointment of Peter Akpe as the Deputy Governor of the state. Akpe, a pastor, served as Chief of Staff to Governor Douye Diri prior to his nomination. An ordained clergy of the Redeemed Christian Church of God (RCCG), Akpe has built a career spanning the civil service and politics. He served in both the Rivers and Bayelsa State civil services before transitioning fully into politics. He was a two-term member of the Bayelsa State House of Assembly from 2011 to 2019, where he served as Majority Leader throughout his tenure in…

The Federal Government has formally withdrawn the forgery charge filed against senior lawyer Mike Ozekhome, bringing an abrupt pause to a case that had drawn public attention. The charge was originally instituted by the Independent Corrupt Practices and other related offences Commission (ICPC).It followed a judgment delivered by a London court over a property linked to the late former FCT minister, Jeremiah Useni. In January, the Office of the Attorney-General of the Federation took over the matter from the ICPC for what it described as effective prosecution. However, proceedings took a new turn on Tuesday at the FCT High Court.…

President Bola Tinubu, on Monday in Abuja, urged Muslim and Christian leaders in the country to show greater compassion for the poor and underprivileged by pursuing policies that cater to the needs of the majority in the grassroots. The President, who hosted governors for the breaking of an interfaith fast at the Presidential Villa, said the simultaneous periods of abstinence and penitence for both religions underscore a common humanity. President Tinubu noted that Ramadan and Lent provide opportunities for leaders in both religions to reflect further on the plight of others and to design programmes that will directly impact the…

The National Assembly has announced a postponement of its plenary resumption, moving the schedule from Tuesday, February 24, 2026, to Thursday, March 5, 2026. The decision was communicated on Monday through a statement signed by the Clerk of the National Assembly, Kamoru Ogunlana. The postponement is intended to allow committees sufficient time to complete ongoing budget defence sessions with ministries, departments, and agencies. The statement read in part, “This is to inform Distinguished Senators and Honourable Members of the National Assembly that the plenary session earlier scheduled for Tuesday, 24th February 2026 has been postponed to enable committees to conclude…

Players who receive treatment for an injury could be forced to stay off the field for one minute under proposals from FIFA It is one of a number of measures to tackle tempo disruption and time lost which are set to be approved at the International Football Association Board (IFAB) annual general meeting on Saturday. At present there is no stipulation in the laws over how long injured players have to remain on the sidelines. Leagues have the right to set their own guidelines, with the Premier League adopting a 30-second rule since the 2023-24 season. FIFA held its own trials…

The Peoples Democratic Party has inaugurated a special legal team to handle election petitions arising from the February 21, 2026, Area Council elections in the Federal Capital Territory. This comes as the opposition party congratulated its candidates, who emerged winners in the chairmanship and councilor elections. PUNCH Online reports that the elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali. Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils,…