Author: Vardiafrica

The Central Bank of Nigeria (CBN) has directed banks to submit a capital restoration plan as part of regulatory efforts to support the exit from the forbearance regime. In a circular signed by the CBN Director of Banking Supervision, Mrs Olubukola Akinwunmi, published on its website on Monday, the apex bank said the Capital Restoration Plan would complement its other measures which include termination of forbearance exposure and Single Obligor Limits waivers, suspension of payment of dividends, bonuses and Investment in foreign subsidiaries for affected banks. “To complement the above measures and ensure forward-looking capital planning, all affected banks are…

The Niger Delta Development Commission, NDDC, has launched a comprehensive technical skills acquisition programme to equip participants with practical in-demand skills. Speaking at the official flag-off of the programme in Port Harcourt, the NDDC Managing Director, Dr. Samuel Ogbuku, stated that it aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the efforts to address youth unemployment and restiveness in the Niger Delta. Ogbuku, who was represented by the NDDC Executive Director of Projects, Sir Victor Antai, described the programme as “development in action.” He stated, “Every enduring legacy begins with a foundation. What we are doing today is…

Senate President Godswill Akpabio (seated) in a discussion with Barau Jibrin, deputy senate president, and Opeyemi Bamidele (in blue), senate leader | File photo The Senate has pushed back against claims that it routinely ignores bills passed by the house of representatives. Speaking at Tuesday’s plenary, Opeyemi Bamidele, senate leader, said the red chamber remains committed to legislative reciprocity grounded in the public interest. He described the narrative as misleading and said the senate had processed several bills from the House in recent weeks. “I want to use this opportunity to respond to what was published in some newspapers about the senate…

The Niger Delta Development Commission, NDDC, has donated relief materials to Otuasega and Oruma communities in Bayelsa State in fulfilment of its mandate to respond to the needs of the people of the Niger Delta region, Speaking during the distribution exercise, the NDDC Managing Director, Dr. Samuel Ogbuku, noted that the distribution of palliatives demonstrates the Commission’s resolve to align its social interventions with President Bola Ahmed Tinubu’s Renewed Hope Agenda. Ogbuku, who was represented by the Deputy Director, Education, Health, and Social Services, Mrs. Chioma Nwakwe stated: “Just recently, the NDDC flagged off its 2025 Free Medical Mission in…

The Federal Government has pegged the minimum admissible age for candidates seeking admission into tertiary institutions in Nigeria at 16 years. Minister of Education Tunji Alausa announced this on Tuesday during the 2025 Policy Meeting on Admissions, held at the Bola Ahmed Tinubu International Conference Centre in Abuja. The 16-year age requirement will be enforced through its Central Admissions Processing System (CAPS), with efforts made to accommodate candidates who would turn 16 by 31st August 2025. However, JAMB expressed concern that some institutions had violated this directive by admitting underage candidates through channels outside CAPS and collecting substantial amounts from them as…

The Nigerian Civil Aviation Authority (NCAA) has granted a license for the commencement of domestic flight operations by Enugu Air. The disclosure was contained in a statement signed by the NCAA Director of Public Affairs and Consumer Protection, Michael Achimugu, on Monday. Enugu Air was officially inaugurated on Monday, July 7, 2025, by the Minister of Aviation and Aerospace Development, Festus Keyamo, at a ceremony attended by Enugu State Governor Peter Mbah. The airline commenced commercial operations with three Embraer 170 aircraft, each with a seating capacity of approximately 76 passengers. The interim license by the NCAA, however, was for…

The United States Mission in Nigeria has commenced the screening of social media accounts belonging to Nigerian applicants for F, M, and J nonimmigrant visas as part of new vetting procedures aimed at enhancing national security. “Effective immediately, all individuals applying for an F, M, or J nonimmigrant visa are requested to adjust the privacy settings on all of their personal social media accounts to ‘public’,” the embassy announced via its official X (formerly Twitter) handle on Monday. The directive, which takes immediate effect, applies to Nigerians seeking to study or participate in exchange programmes in the United States under…

The NNPC Ltd has handed over thirty-five (35) hybrid Compressed Natural Gas (CNG)-powered buses to the Presidential Initiative on Compressed Natural Gas (Pi-CNG). During a brief ceremony held at the NNPC Towers on Monday, the Group CEO, NNPC Ltd, Engr. Bashir Bayo Ojulari reiterated the Company’s commitment to support Federal Government’s gas aspirations. The GCEO, who stated that the move was in line with NNPC Ltd.’s efforts to drive the adoption of CNG as a cleaner, cheaper and sustainable fuel alternative, added that the Company has recorded significant progress on gas supply, infrastructure, distribution and retail outlets. “I am proud…

Nigeria’s Vice President, Kashim Shettima, has called on the Nigerian judiciary to enhance trust and efficiency within the country’s capital market. VP Shettima, together with the Minister of State for Finance, Doris Uzoka Anite, the Director-General of the Securities and Exchange Commission Dr. Emomotimi Agama and other stakeholders in the capital market stressed that the judiciary has a critical role in driving the agenda of the federal government to achieve the N1tn target for the Nigerian economy. Speaking at the Securities and Exchange Commission (SEC) Judges’ Workshop in Abuja, Shettima highlighted how effective dispute resolution mechanisms underpin investor confidence and…

US President Donald Trump has announced plans to send additional defensive weapons to Ukraine after his administration paused certain shipments last week. “We’re going to send some more weapons. We have to—they have to be able to defend themselves,” Trump said ahead of a dinner with Israeli Prime Minister Benjamin Netanyahu. “They’re getting hit very hard. We’re going to have to send more weapons. Defensive weapons, primarily, but they’re getting hit very, very hard.” His comments follow reports that the administration had paused some weapons shipments, including air defense missiles, after a review of military spending and foreign support. A…