Author: Vardiafrica

The Central Bank of Nigeria (CBN) has increased the cost of issuing and replacing Automated Teller Machine (ATM) debit and credit cards by 50 per cent, raising the fee to N1,500 from the previous N1,000. At the same time, the apex bank has scrapped the N50 monthly maintenance charge on naira-denominated debit and credit cards, a fee that previously included a 7.5 per cent Value Added Tax (VAT). The new directives were outlined in the CBN’s exposure draft of the Guide to Charges by Banks and Other Financial Institutions (OFIs) in Nigeria 2026. In a circular signed by the CBN…

President Bola Tinubu on Friday swore in Muttaqha Darma as the new Minister of Housing and Urban Development at the State House, replacing the recently resigned Ahmed Musa Dangiwa. During the brief ceremony, President Tinubu congratulated Darma on joining the cabinet at a “very challenging time of national development”, praising his “rich and interesting background” and history of valuable service. “You are a fitting peg in the right position,” the president said, urging him to serve in any capacity required. A distinguished scholar and administrator from Katsina State, Darma holds a Doctor of Business Administration from the University of Liverpool, a PhD in Industrial…

The Federal High Court in Abuja has adjourned the alleged money laundering trial involving former Kogi State governor, Yahaya Bello, to May 6 for continuation of proceedings. Justice Emeka Nwite fixed the new date to allow defence counsel, Joseph Daudu (SAN), to continue cross-examining the Economic and Financial Crimes Commission’s (EFCC) 12th prosecution witness, Abdullahi Jamilu. During cross-examination, Jamilu told the court he made only one statement to the EFCC on May 10, 2022. He admitted that certain companies—Wales Oil and Gas, Forza Oil and Gas, and Aleshua Services—were not mentioned in Exhibit 46, which contained his initial statement. He also confirmed that…

Aliko Dangote, Africa’s richest person, yesterday pushed to expand his refining footprint beyond Nigeria, unveiling plans to build a refinery of comparable scale in East Africa in partnership with governments in the sub-region. The proposed project is expected to be completed within four years, especially if East Africa’s regional leaders cooperate, Dangote stressed, kicking against Africa’s long-term practice of exporting raw materials abroad. Speaking at a presidential panel at the “Africa We Build” summit in Nairobi, alongside Kenyan President, William Ruto, as well as Ugandan President, Yoweri Museveni, Dangote said his group was ready to build in East Africa a…

The Nigerian military has inaugurated a general court – martial to try officers accused in an alleged coup plot, marking the formal commencement of proceedings. The officers were brought to the venue of the sitting, the guards brigade scorpion mess, Asokoro, at about 8:53 a.m. 24th April 2026 under tight security. However, journalists were denied access into the courtroom as proceedings commenced behind closed doors, while several civil lawyers were observed arriving at the venue ahead of the inauguration, suggesting the presence of legal representatives for the defendants. The sitting signals the beginning of the military’s internal trial process following…

Bauchi State Governor, Bala Mohammed, yesterday, declared that he had become a “freelance politician” with no firm alignment to any political party. Mohammed made the remark while hosting a chieftain of African Democratic Congress (ADC), Peter Obi, alongside South-east stakeholders in Bauchi. The governor described the engagement as part of a broader consultation on national unity and political cooperation. He stated, “Neither PDP nor ADC is standing alone. I am a freelance politician now, and this party is also in limbo. We are looking up to the judiciary. “Certainly, we are all in the opposition, and that is why I…

Mohammed bin Rashid Al Maktoum, prime minister of the United Arab Emirates (UAE), says the country will roll out a new government model powered by artificial intelligence (AI). In a post on X on Thursday, the Dubai ruler said the initiative, launched under the directives of the UAE president, will see 50 percent of government sectors, services, and operations run on “agentic AI” within two years. Agentic AI is an artificial intelligence system designed to act like “agents. They do not only respond to prompts but can also make decisions, take actions, and pursue goals with some level of autonomy. Al Maktoum…

President Bola Tinubu has formally written to the Senate, seeking approval for a $516.3 million foreign syndicated loan to support the construction of the Sokoto–Badagry highway. In a communication read by the President of the Senate, Godswill Akpabio, on Thursday, President Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the Federal Government to secure the financing for Sections 1, Phase 1A, and 1B of the project. The loan facility is to be arranged through Deutsche Bank AG President Tinubu explained that the superhighway project is a flagship…

The Senate on Thursday confirmed the nomination of Dr. Muttaqha Rabe Darma as Minister of the Federal Republic of Nigeria, with a mandate to tackle the country’s massive housing deficit, revive abandoned housing schemes, and restore order to urban planning—especially in the Federal Capital Territory (FCT). The confirmation followed an extensive screening session on the floor of the upper chamber, during which lawmakers subjected the nominee to questions on housing policy, financing, urban development, and even national security. Moving the motion for confirmation, Senate Leader, Senator Opeyemi Bamidele (Ekiti Central), urged the chamber to approve President Bola Tinubu’s request in…

The Department of State Services (DSS) has arraigned former Kaduna State governor, Nasir El-Rufai, over allegations of unlawfully accessing the telephone conversation of the National Security Adviser (NSA), Nuhu Ribadu. El-Rufai was brought before a Federal High Court in Abuja on Thursday on a five-count amended charge bordering on alleged unlawful interception and related offences. At the commencement of proceedings, the prosecution informed the court that the initial three-count charge had been amended to five counts. Consequently, the presiding judge, Joyce Abdulmalik, struck out the earlier charges. The former Minister of the Federal Capital Territory (FCT) pleaded not guilty to…