Author: Vardiafrica

The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, has launched the Non-Resident Bank Verification Number platform, an initiative aimed at enhancing financial access for Nigerians in the diaspora. The platform, which enables Nigerians abroad to obtain their Bank Verification Number remotely, removes the need for physical presence in Nigeria. Speaking at the event in Abuja on Tuesday, CBN Governor, Mr. Olayemi Cardoso, described the platform as a key milestone in the country’s financial inclusion journey. He noted that the NRBVN would ease the long-standing challenges faced by Nigerians in the diaspora who previously had to…

The Nigerian National Petroleum Company (NNPC) Limited has reduced the price of Premium Motor Spirit (PMS), also known as petrol, to N910 per litre from N935 per litre in Abuja. However, the price adjustment has not yet been implemented in Lagos and other cities across Nigeria. Meanwhile, Dangote Petroleum Refinery initiated the price adjustment last weekend, slashing the gantry price of petrol to N825 per litre from N835 per litre, as competition intensifies in the domestic market. This follows a previous price reduction last month, when the 650,000 barrels per day refinery lowered the gantry price to N835 per litre…

Lawmakers argued that, if passed, the bill could set a dangerous precedent for the nation’s political structure. Deputy Minority Leader Aliyu Madaki stated that existing institutions have already covered the issues the bill aims to address, according to The PUNCH. Madaki said, “The issues this bill intends to cure have already been taken care of by the Federal Character Commission. The rotation issue should not be included in the Constitution but allowed to remain the way it is.” Another lawmaker, Sada Soli (APC, Katsina), questioned the practicality of the proposal, warning that it could compromise leadership quality and promote ethnic…

The Senate on Tuesday asked the military to urgently redeploy personnel and advanced equipment to Borno and Yobe states, following a resurgence of attacks by Boko Haram terrorists in the areas. The resolution followed renewed insurgent attacks in the North-East region, including the killing of over a dozen soldiers in Marte town of the Monguno Local Government Area on Monday, May 12, and a subsequent assault early Tuesday on Gajiram, the headquarters of the Nganzai Local Government Area. In a motion raised by the Senate Chief Whip, Tahir Munguno, lawmakers noted that while two-thirds of the local government areas in…

The World Bank has raised concerns over low remittances by the Nigerian National Petroleum Company Limited (NNPCL) despite the removal of fuel subsidies. These concerns were outlined by the apex bank in its Nigeria Development Update published on Monday. According to the report, despite the removal of subsidies in October 2024, the NNPCL has failed to fully remit revenue to the Federation Accounts Allocation Committee (FAAC). “Despite the subsidy being fully removed in October 2024, NNPCL started transferring the revenue gains to the Federation only in January 2025. Since then, it has been remitting only 50 percent of these gains, using the…

The federal executive council (FEC) has approved the creation of MediPool, a group purchasing organisation aimed at reducing the cost of essential medicines and healthcare products across Nigeria. Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, said MediPool would operate as a public-private partnership, leveraging the government’s purchasing power to negotiate better prices from suppliers. “So it’s using the monopsony power of government as a large buyer of those commodities to negotiate lower prices and then channel those commodities,” Pate said. According to him, the scope of MediPool includes “procurement planning, distribution monitoring, supply chain, logistics management, quality…

President Bola Ahmed Tinubu has sworn in newly appointed Commissioners of the Independent National Electoral Commission INEC. The commissioners took the oath of office at the commencement of the Federal Executive Council meeting of the day, at the State House, Abuja. The swearing in ceremony followed introductory remarks by the State House Director of Media and Publicity, Mr Abiodun Oladunjoye. The new INEC Commissioners are ⁠Mallam Tukur Abdulrazaq Yusuf, representing Northwest , Professor Sunday Nwambam Aja, representing Ebonyi State. The President also swore in 2 Commissioner members of Board of the Code of Conduct Bureau CCB. They are Ikpeme Kenneth…

NDLEA’s Director of Media and Advocacy, Mr. Femi Babafemi, in a statement sent to Persecondnews on Monday in Abuja, quoted the agency’s Chairman/CEO, retired Brig.-Gen. Mohamed Buba Marwa, as saying, “The newly constructed laboratories will enable us to enhance our forensic analysis capabilities, increase our capacity to process cases efficiently, and strengthen our fight against substance abuse and illicit drug trafficking.” Marwa said that the two new facilities are set to commence operations, while the existing Lagos lab has undergone a comprehensive renovation, transforming it into a state-of-the-art facility. “This project was made possible through the sponsorship of the US…

The Joint Admissions and Matriculation Board (JAMB) has announced an immediate review of the 2025 Unified Tertiary Matriculation Examination (UTME) following public outrage over alleged technical malfunctions and an alarming rate of mass failure. In a statement issued by Fabian Benjamin, JAMB’s Public Communication Advisor on Monday, the board confirmed it had received an “unusual volume of complaints” since the release of the UTME results last Friday. The controversy gained momentum after statistical data revealed that over 1.5 million of the 1.9 million candidates who sat the 2025 UTME scored below 200 out of a possible 400 marks. Candidates and…

Dangote Petroleum Refinery has announced a significant reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N835 to N825 per litre. The new pricing, effective immediately, comes as a relief amid Nigeria’s ongoing efforts to stabilise fuel supply and reduce dependence on imported petroleum products. Industry analysts suggest the reduction could lead to lower pump prices across the country if marketers pass on the savings to consumers Sources confirmed on Monday that the refinery has reduced its price to N825 per litre for its customers, through a rebate of N10 after successful loading of…