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CBN gets NES recognition for economic reforms

The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s (NES) Distinguished Organisation Award in recognition of its institutional reforms and contributions to Nigeria’s macroeconomic stability and economic development. The award was presented at the 67th Annual Conference of the NES, held in Abuja from September 7 to 10, 2026.

Director of the Monetary Policy Department at the CBN, Dr. Victor Oboh, received the award on behalf of the Governor of the bank, Mr. Olayemi Cardoso. The recognition comes amid a series of reforms undertaken by the apex bank acrossthe monetary, foreign exchange and financial sectors over the past three years.

Among the measures highlighted were reforms to the foreign exchange market, the clearance of longstanding foreign exchange obligations, the cessation of Ways and Means financing to the federal government, the implementation of the Payment System Vision 2028, and the recapitalisation of the Nigerian banking industry, aimed at creating a stronger, more resilient, and globally competitive financial system.

According to the organisers, the reforms have improved key macroeconomic indicators, including easing inflationary pressures, strengthening external reserves,and greater stability in the foreign exchange market.

It also noted that the premium between the official and parallel foreign exchange markets had narrowed to less than two per cent, and that remittance and capital inflows, as well as investor confidence, had improved.

The CBN attributed the developments to ongoing policy measures to restoreconfidence in the economy and to strengthen the country’s monetary and financial system.

The NES recognition follows the CBN’s recent emergence as Global Central Bank of the Year, further bolstering international recognition of its reform programme and policy initiatives.

Speaking on the NES award, Cardoso described the recognition as an endorsement of the institution’s commitment to excellence, resilience and national development.

‘The Distinguished Organisation Award is a testament to the Central Bank of Nigeria’s unwavering pursuit of excellence, institutional resilience, and commitment to national development,’ the governor said.

He added that the award reinforced the bank’s commitment to macroeconomic stability, a stronger financial system and sustainable economic growth.

‘As it continues to implement reforms and innovate to fulfil its mandate, the CBN remains firmly committed to building a stronger economy and a brighter future for Nigeria,’ Cardoso said.

FG pays N18bn to former Nigeria Airways workers after two-decade wait

The federal government has paid N18 billion in severance benefits to 2,700 former employees of Nigeria Airways, ending a more than two-decade wait for workers whose entitlements remained outstanding after the airline was liquidated.

Taiwo Oyedele, finance minister and coordinating minister of the economy said Friday that 2,100 former workers covered by batches one through seven have already been paid, while payments to another 600 beneficiaries in batches eight and nine are being finalised and will be completed within days.

‘Today is about much more than the payment of money. It’s about people, dignity, trust, and the responsibility of government to honour legitimate obligations to its citizens,’ Oyedele said at a press briefing in Abuja.

The settlement follows a directive from President Bola Ahmed Tinubu and forms part of the government’s broader effort to clear inherited obligations, including verified pension arrears and debts owed to indigenous contractors, Oyedele said.

Many former Nigeria Airways workers have waited more than 20 years for their severance payments, with some dying before receiving their entitlements and leaving their families to pursue the claims.

Oyedele said the government would not automatically adjust the payments for inflation, despite the significant erosion in the value of money since the obligations arose. The current payments are based on documented and verified entitlements, while any decision to provide additional compensation would have to be considered separately.

‘We’ve discharged the obligations as documented and verified. Any other thing that we need to do has to be discussed separately,’ he said.

The government has subjected claims to an extended verification process, including biometric capture and validation of personal and bank information, in an effort to prevent fraudulent claims. Officials will also conduct further checks to resolve cases involving outdated information, incorrect bank details and beneficiaries who have died.

For deceased workers, Oyedele said payments would be processed in favour of their next of kin or beneficiaries, although such claims require additional legal procedures.

The minister said the government chose to begin paying validated beneficiaries rather than wait until the entire claims list had been processed. That approach allowed the government to release funds to thousands of former workers while continuing verification of outstanding claims.

The Nigeria Airways settlement is part of what Oyedele described as a broader shift in the government’s approach to inherited financial obligations. He said authorities have also prioritised payments to smaller indigenous contractors, beginning with verified debts of N50 million or less and subsequently increasing the threshold to N100 million.

More than 12,000 indigenous contractors have now been paid, Oyedele said.

The government’s strategy is to prioritise smaller contractors whose cash flow may directly affect workers, suppliers and families, while larger claims can be handled through negotiated arrangements, including promissory notes, he said.

‘We want to be very credible. And once you’ve done your own part, you’ve done your work, valuation has been done, it’s been validated, you don’t need to know the finance minister,’ Oyedele said.

The minister also warned contractors against paying commissions to officials to secure government payments, saying such demands are illegal and should be reported.

Oyedele said the administration intends to prevent a repeat of the accumulation of unpaid obligations by making budgets more realistic and ensuring that capital spending commitments are backed by a clear assessment of available funding.

The government’s ability to meet such obligations will depend on stronger revenue collection and the creation of additional fiscal space, he said, while stressing that payments must remain subject to verification and fiscal discipline.

‘For the former workers of Nigeria Airways who have waited so long, this is ultimately not a favour from government. It is your entitlement,’ Oyedele said, apologising for the length of the delay.

Reigning champions square off with tougher foes in Samal 5150

ERYK OMANDAM and Natasha Doromal-Lim brace for a tougher and fiercer challenge as they seek back-to-back overall titles in the Damosa Land 5150 Triathlon which fires off September 20 on Samal Island in Davao del Norte.

The defending champions conquered the demanding Olympic-distance race-1.5-km swim, 40-km bike and 10-km run-in last year’s inaugural staging beating a strong international field to claim the men’s and women’s overall crowns.

Omandam, a senior Human Resource Management student at the University of Mindanao, will again look to make his biggest gains in the bike and run legs as he targets not only a second straight overall championship but also the 20-24 age-group title in the event organized by Sunrise Events Inc.

The 33-year-old Doromal-Lim will also defend her 30-34 age-group crown with added emphasis on her swim preparation while remaining confident in her bike and run legs.

The Damosa Land 5150 also serves as the fourth and final leg of the four-race 5150 Triathlon Islands of the Philippines Series backed by the Philippine Sports Commission.

The series opened in Guimaras in March, moved to Camiguin in May and then headed to Bohol for the third leg, held during the province’s milestone 10th staging of the Olympic-distance race.

The circuit brings the globally recognized Ironman 5150 brand to key island destinations across the archipelago with the Damosa Land 5150 providing a fitting finale in Samal.

Supported by the Tourism Infrastructure and Enterprise Zone Authority, the series goes beyond medals and podium finishes, bringing together sport, tourism and national branding in a four-island showcase of Philippine endurance racing.

The National Sports Tourism-Inter-Agency Council program also seeks to position the Philippines as a premier destination for world-class sporting events with the 5150 series helping demonstrate how elite competition can drive tourism and promote the country’s natural assets.

58 Kaduna women recover from VVF, receive skills

Fifty-eight women who underwent successful treatment for Vesico Vaginal Fistula (VVF) in Kaduna State have completed a rehabilitation and skills acquisition programme.

The beneficiaries, who had their fistula repaired at the Yusuf Dantsoho Fistula Centre, were presented with skills and starter packs at a graduation ceremony organised by the Kaduna State Ministry of Women Affairs and Social Development in collaboration with development partners.

Deputy Governor Dr Hadiza Balarabe said rehabilitation should go beyond surgical treatment to restore survivors’ confidence, dignity and economic independence.

Balarabe, who conveyed Governor Uba Sani’s greetings, said the administration had prioritised healthcare, particularly for women and children.

She commended the Ministry of Women Affairs, Fistula Foundation Nigeria, UNFPA, medical personnel, caregivers, trainers and counsellors for their contributions to the programme.

‘As a medical doctor myself, I understand the profound physical, emotional and social challenges women living with obstetric fistula may experience,’ Balarabe said.

She urged stakeholders to intensify awareness, promote quality maternal healthcare and encourage skilled attendance during pregnancy and childbirth.

The deputy governor also called for improved access to fistula treatment without stigma or discrimination.

Commissioner for Women Affairs and Social Development, Hajiya Rabi Salisu, said the 58 beneficiaries completed VVF repair and subsequent skills acquisition programmes across the state.

She said the beneficiaries would form a cooperative society under the ministry to promote mutual support and economic sustainability.

Executive Director of Fistula Foundation Nigeria, Mr Musa Isa, representing UNFPA, said quarterly fistula repair campaigns had enabled more than 400 women and girls to access free treatment, including surgery, medication, feeding and transportation.

He said doctors and nurses had also been trained in fistula management.

Representing the Federal Ministry of Health, Mallam Faruk Usman said more than 300 patients had been treated at the Yusuf Dantsoho intervention centre within two years through collaboration between the Kaduna Government and Fistula Foundation Nigeria.

He urged stakeholders to identify women still suffering from the condition and facilitate their access to free treatment.

One of the beneficiaries, Rahma Ibrahim, described her experience with VVF as traumatic, saying the condition caused pain, emotional distress and social isolation.

Another beneficiary, Khadija Yusuf, said the treatment, skills training and starter support had restored her confidence and given her hope of becoming self-reliant.

N41m For Grab As UBA Opens 2026 Essay Contest

UBA Foundation, the Corporate Social Responsibility arm of the United Bank for Africa (UBA) Plc, has opened entries for the 2026 edition of its annual National Essay Competition (NEC), with a total of N41 million in educational grants and prizes to be awarded to the top five winners.

In a statement, the bank said the competition in its 16th consecutive year continues to provide senior secondary school students in Nigeria and Africa, with a platform to showcase their creativity, writing skills and critical thinking while earning financial support towards their university education.

A major highlight of this year’s competition is the expansion of educational grants to the fourth- and fifth-place winners for the first time. The first-place winner will receive a N15 million university grant, representing a 50 per cent increase from the N10 million awarded in 2025, while the second- and third-place winners will receive N10.5 million and N7.5 million respectively.

The fourth and fifth-place winners will receive N5 million and N3.5 million each in grants towards their university education at any African university of the winners’ choice.

This year’s competition challenges students to examine one of Nigeria’s most pressing issues as they will tackle the topic: ‘No nation can develop without food security. How can Nigeria deal with this problem?’ where participants will be expected to propose practical and sustainable solutions to Nigeria’s food security challenges.

Commenting on the initiative, the Managing Director/CEO of UBA Foundation, Bola Atta, said the competition reflects the Foundation’s commitment to empowering young Nigerians to contribute meaningfully to national development.

‘For well over a decade, the National Essay Competition has provided a vital platform for our secondary school students to express their ideas and showcase their intellectual prowess. This year’s topic is particularly crucial, as it tasks them to confront one of the defining questions of our time, which is how we feed our nation and secure its future. We believe the young minds of today hold the key to a more prosperous and self-sufficient Nigeria,’ she said.

Eligible students are required to submit handwritten essays of no more than 750 words through the competition’s digital portal on or before Friday, October 23, 2026. Applicants must be Nigerian senior secondary school students and are required to complete the online application form and upload their handwritten essay, a recent passport photograph and a valid birth certificate, National ID card or international passport.

FIBA Women’s Basketball World Cup: US, France set off on collision course after quarter-final wins

After cruising to quarter-final victories at the FIBA Women’s Basketball World Cup, the U.S. and France have set off on a collision course that could ?bring a rematch of their 2024 Olympic gold-medal game in the final.

France dispatched 90-61 in Berlin to reach the semi-finals for the first time, led by 15 points each from Janelle Salaun and Marine Johannes, as well as 14 from captain Gabby Williams.

They now have a ?chance to claim their first World Cup medal since the inaugural tournament in ?1953, when they finished third in the final round.

‘This team here just ?want to make a new story. And I think that’s the most important thing,’?France coach Jean Aime Toupane told reporters.

After missing out on Olympic gold to the Americans ?by one point in Paris two years ago, France entered the tournament with confidence and hunger.

‘We are lucky because we are a group that have known each other for a couple of years now,’?Salaun said of the team’s chemistry.

‘We went through a lot of things, the Olympics, ?training camp(s), so we just know each other and we know what we want. We have a and ?we want to do everything to get to this goal.’

Both Olympic finalists are now one win away from setting up a rematch after the U.S. crushed Hungary 108-56 earlier in the day, with 19 points from Napheesa Collier.

The defending champions’ 108?points and 31 assists ?were both records ?for a World Cup quarter-final.

‘This was one of our most complete performances of the tournament,’ U.S. coach Kara Lawson said, adding that she ?was pleased with her team’s defensive efforts.

‘And then offensively, we as ?coaches love ?when they share the ball,’ Lawson said with a smile. ‘And they did at just a high level.’

‘As far as France, what a wonderful team, and they’ve had an outstanding World Cup ?so ?far,’ Lawson added. ‘So they should have a lot of ?people thinking that they can do well.’

The U.S. will play either Spain or Australia in the semi-finals, while France ?await the winner of Belgium and Germany.

Akufo-Addo’s Last Mirth

Following revelations and confessions originating from the stalled National Cathedral project, former President Akufo-Addo can have the last laugh.

And it came to pass that a national cathedral was conceptualised, its features standing it as one of the largest of its kind in the world. Besides the spiritual dimension, it was intended to serve as a tourist attraction.

It was stalled at its foundation stage, victim of the abrasive propaganda of the National Democratic Congress (NDC) in the run-up to the 2024 elections.

All manner of monikers were heaped upon the project by politicians who colluded with a pack of willing clergymen to give the project a bad name and hang it.

They succeeded in having their way, the corruption tag festooned around the neck of the project too visible to be ignored by voters. The regime change agenda worked, but time has let out the contents of its belly.

Audited reports by world-class PricewaterhouseCoopers (PwC) absolved management of the project of corruption. A further auditing scrutiny was ordered, this too to no avail in establishing even an iota of corruption.

With nothing to stand on as grounds to smear the trustees and even the then New Patriotic Party (NPP) government of corruption, a flimsy charge by the Attorney General was that a house of God should not be built the way the project under review is. Whatever that means?

Another weak excuse was that the project should not have been sited where it is.

The foregone are indicators about the politicisation of the project and how hard the bad guys sought to drown the image of the respected personalities at its helm.

God’s war will be fought by Him alone, not by humans. This is being manifested by the matters arising thereof.

While Mahama Ayariga said the project should not be stalled, his party having stood against it earlier, the wicked agenda of the NDC is too clear.

The bombshell however originated from one of the two trustees who seemingly expressed regret about the non-execution of the project, having resigned from his trusteeship position on the board.

Archbishop Duncan-Williams, who resigned, has absolved the project of the corruption charge on a hindsight.

The project was stopped not because of corruption, but the non-commitment of Christians to have it completed.

This variation from the corruption suspicion he expressed in his letter of resignation is rich and mind-boggling, given his position on the Christianity space in the country.

He referred to selfish Ghanaians who are concerned about themselves and not the Dominion.

What he did not do during his presentation was apologise over his earlier stance when he smelled corruption. Such expression of remorse would have been good.

Pastor Otabil, another member of the board of trustees of the project, recently rebuked Ghanaians for allowing partisan politics to derail the $97 million National Cathedral project.

See why former President Akufo-Addo can open a bottle of champagne and drink to the good health of the proposed National Cathedral? Laughing last is best.

PPA OKs P1.75 billion funding for new port, infrastructure upgrades

The Philippine Ports Authority (PPA) has alloted P1.75 billion for the upgrade of two terminals in Luzon and Mindanao and the construction of a new one in Visayas as part of its push to scale up maritime infrastructure.

In a series of invitations to bid, the PPA said it would spend as much as P1.75 billion for port upgrades in Quezon and Surigao del Norte and construction of a new facility in Samar.

The PPA is putting up a new port in Catbalogan, Samar to provide Eastern Visayas with another infrastructure for trade and travel activities.

The project, costing P859.94 million, covers the establishment of a port operational area, bridged to two ramps for roll-on, roll-off (ro-ro) vessels. It also includes the installation of a pump house and a power house and the construction of two gate complexes.

The new Catbalogan port is slated to be finished within 720 days. The Port of Catbalogan was severely damaged by Typhoon Uwan last year, with its wharf ruined by heavy rains.

The PPA will also spend P670.25 million for the second phase of the Plaridel Port Development Project, an undertaking to improve sea travel to central Quezon.

The project involves removal, disposal and excavation works to make way for the establishment of a port operational area with ro-ro ramp, access road and stair landing.

Similar to the Catbalogan contract, the infrastructure works on the Port of Plaridel must be completed within 720 days.

The PPA will also invest P217.74 million to enhance supporting facilities to the Port of Jubang in Dapa, Surigao del Norte. The Port of Jubang is made to dock cruise ships, and it leads tourists to surfing haven Siargao.

Under the new project, the PPA aims to build an access road to the port for ease of connectivity. The project also shoulders the boardwalking and landscaping of the terminal to make it easier for passengers to walk around.

The PPA will hold a pre-bid conference for the projects on Sept, 15 to respond to questions from prospective bidders.

Afterward, the agency scheduled the opening of bids on Sept. 29 for the Port of Plaridel; on Sept. 30 for the new Catbalogan terminal; and Oct. 1 for the Port of Jubang.

PRP backs Bauchi governorship candidate, Buba, over banditry allegations

The People’s Redemption Party (PRP) has thrown its weight behind its Bauchi State governorship candidate, Senator Shehu Buba, dismissing allegations linking him with bandits and kidnappers as a politically motivated campaign aimed at damaging his reputation ahead of the election.

The party said it had deliberately refrained from responding to the allegations while seeking to establish their veracity, but had become convinced that the claims were part of a campaign by political opponents allegedly threatened by Buba’s popularity.

PRP National Publicity Secretary, Comrade Muhammed Ishaq, stated this in a statement on Friday, insisting that the party retained full confidence in the serving senator and its governorship candidate.

Ishaq challenged anyone possessing evidence of criminal wrongdoing against Buba to submit it to the appropriate authorities for investigation and prosecution in accordance with the law rather than circulate what the party described as unsubstantiated allegations.

‘The PRP is now convinced that there is a campaign to damage our candidate with tissues of lies and unrestrained mischief. We now believe that these allegations are handiwork of those who are threatened by our candidate’s popularity and his prospects for being voted the next Governor of Bauchi State.

‘These lies must stop. Those who have evidence of any criminal activity against him should provide such evidence to the authorities who should treat them as the law provides’, the party said.

The PRP said it initially resisted joining issues with those behind the allegations because responding could give further publicity to the claims.

According to the party, it also considered it necessary to ascertain the facts surrounding the allegations against Buba, whom it said had earned its trust to represent the party with integrity and responsibility.

The party further cited Section 127(c) of the Electoral Act 2026, which it said criminalises the publication of false statements concerning the personal character or conduct of a candidate where such statements are intended to prejudice the candidate’s electoral chances or promote another candidate.

Quoting the provision, the PRP said an offender, upon conviction, could face a maximum fine of N200,000, six months’ imprisonment or both.

‘For the avoidance of doubt, the PRP has full confidence in its gubernatorial candidate, a serving Senator and a citizen who stepped up when needed to try and put an end to the scourge of criminality now ravaging the country’, Ishaq said.

The party alleged that Buba’s political rivals had resorted to what it described as ‘outrageous and libelous falsehood’ because of the spread and depth of his support across Bauchi State.

It reaffirmed its support for the governorship candidate and urged his political opponents to concentrate on winning voters rather than engaging in attacks on his character.

‘The Party stands with Senator Shehu Buba, its candidate for governorship of Bauchi State. Those who feel threatened by his popularity should attempt to match his acceptance levels and stop this campaign of calumny against him’, the statement said.

Asilo gets back on win track

Gerwin ‘The Gladiator’ Asilo of PMI Bohol Boxing Stable got back on the winning track with an impressive unanimous decision victory over the veteran journeyman Renoel Pael in the main event of ‘Kumong Bol-anon 26:The Prelude’ on Wednesday night, September 9, at the Loon municipal gym in Bohol.

The official scores were 79-73 twice and 78-74 in favor of the 25-year-old Asilo, who bounced back from a fifth-round knockout loss to Keita Nakayama in his previous fight last April in Osaka, Japan.

Asilo improved to 13-2 with 5KOs while Pael fell to 24-19-2 with 12KOs.

In the supporting bouts event, Jericho Acaylar and Sugarey Pores bested their respective foes by unanimous verdict.

Acaylar dominated Alex de Quiros to stretch his unbeaten record to 5-0 with 2KOs while Pores outclassed Jelo Bacalso for his 10th win in 12 fights with 6KOs.

In the other result, Dryx Sardalla edged Anthony Galan by UD to go 2-0 in his young pro career.

The Loon card was an aperitif to the hotly anticipated ‘Kumong Bol-anon 26’ featuring the International Boxing Federation (IBF) light flyweight title eliminator between Bohol’s pride Regie ‘Filipino Phenom’ Suganob and South African Sivenathi ‘The Special One’ Nontshinga on Saturday, September, 12 at the Bohol Wisdom School Gym in Tagbilaran City.