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FG deploys guards to check vandalism, unlawful activities on coastal road

The federal government has deployed guards on the Lagos-Calabar Coastal Highway to protect it from vandalism and other unlawful activities.

Olufemi Dare, Federal Controller of Works in Lagos State, who disclosed this during the inauguration of the guards on Thursday, explained that the initiative became necessary following repeated vandalism of facilities installed on the highway.

At the inauguration, the government profiled 40 guards, documented their guarantors and installed trackers on their motorcycles to ensure the equipment is used strictly for official assignments.

The controller revealed that infrastructure such as manhole covers and directional signs were vandalised shortly after installation and continued to be damaged even after they were replaced.

He said the recurring incidents prompted the ministry to establish the Coastal Road Guards to provide round-the-clock surveillance and preserve the integrity of the road.

Dare said the 40 guards were trained by the Nigeria Police Force and equipped with motorcycles, helmets, walkie-talkies, flashlights and other operational tools to enhance their effectiveness.

The controller charged the guards to carry out their duties with discipline and professionalism, warning that they would also be held accountable for any unlawful conduct.

He said they were expected to prevent the use of motorcycles and tricycles on the highway, discourage indiscriminate parking of trailers and trucks.

Dare said they were also expected to stop illegal U-turns, curb vandalism of manhole covers and road signs, prevent illegal grazing, street trading, illegal occupation of the highway corridor and indiscriminate dumping of refuse.

‘They are to monitor the highway both day and night, arrest offenders where necessary and hand them over to the appropriate security agencies,’ he said.

Dare commended the supervisors, administrative officers and guards for their commitment during training and urged them to justify the confidence reposed in them.

Earlier, the Deputy Team Lead of the Coastal Road Guards, Kelvin Okereke, thanked the federal government for initiating the programme, describing it as a source of employment and income for many Nigerians.

He added that the construction of the coastal highway had created new opportunities while promoting the protection of public infrastructure.

Okereke urged Nigerians to see the protection of government assets as a collective responsibility.

Also speaking, the Chief Security Officer of the Coastal Road Guards, Paul Mbam, said the initiative had given him gainful employment and exposed him to valuable security training.

He said the programme had equipped him with knowledge and skills that would enable him to effectively discharge his responsibilities.

Augustine Usumero, the administrative officer of the Coastal Road Guards, said the team would work closely with the government to ensure the objectives of the initiative were achieved.

Usumero said proper records would be maintained while government assets provided for the operation would be effectively managed.

He expressed confidence that the initiative would succeed, noting that the guards had already demonstrated commitment during preliminary assessments.

Core+ Batch 2018 on cusp of back-to-back crowns

The defending champions Core+ Batch 2018 fended off the BRX Batch 2015, 75-71, to draw first blood in the best-of-three Division C finals of the Sacred Heart Ateneo Alumni Basketball Athletic Association (SHAABAA) Season 29 at the Sacred Heart School-Ateneo de Cebu (SHS-AdC) Magis Eagles in Barangay Canduman, Mandaue City.

Eroll Pastor delivered a double-double show of 21 points and 10 rebounds while Franz Ray Diaz stuffed the stat sheet with 18 points, nine rebounds, six assists and two steals as Batch 2018 moved a win away from retaining its title.

Christian Manaytay also figured prominently with 12 points, five rebounds, one assist, and two blocks as well as Benedict Andre Chua with eight points, 10 rebounds, two assists, one steal and one block for the winning side.

Batch 2018 actually saw its huge 21-point lead, 72-51, early in the fourth quarter evaporate after Batch 2015 launched a blistering 20-3 rally but hung tough to escape with a four-point victory.

Anton Chua paced Batch 2015 with 16 points, nine rebounds, three assists, and two blocks followed by Janjan Jaboneta with 15 points, 14 rebounds, four assists, two steals, and a block.

Steven Co also tallied 15 markers with nine rebounds while Lorenzo Otero dished out 11 points, nine rebounds, one assist and one steal in a losing effort.

Game 2 of the series is set for August 2.

Self-defense bill, responsible gun ownership gain spotlight at 32nd Defense and Sporting Arms Show

A senator laid out his legislative agenda on firearms policy before industry stakeholders at the 32nd Defense and Sporting Arms Show (DSAS) at the SMX Convention Center in Pasay City, balancing expanded gun rights with stricter accountability for negligent owners.

Senate Majority Floor Leader Juan Miguel “Migz” Zubiri, who spoke at Part 1 of the DSAS annual gathering of the Association of Firearms and Ammunition Dealers of the Philippines (AFAD), spearheaded two priority bills: Senate Bill No. 1555, which would strengthen self-defense protections; and Senate Bill No. 1897, a revised set of amendments to the Comprehensive Firearms and Ammunition Regulation Act.

Under SB 1555, forced or illegal entry into a home, vehicle or place of business would create a legal presumption of unlawful aggression-shifting the burden of proof away from the defender.

“Sa oras ng panganib,ilang segundo lamang ang mayroon ang isang tao para kumilos,” Zubiri said, stressing the bill is not a license for violence but protection for those unlawfully attacked.

SB 1897-previously vetoed but now revised-proposes expanded exemptions for threat assessment certificates, higher ammunition caps (250 rounds for regular license holders; 2,500 for sports shooters), a shortened election gun ban (45 days before and 5 days after), simplified ownership transfers upon death or incapacity, and a one-year amnesty for license registration or renewal. The amendments also aim to cut red tape in defense manufacturing under the Self-Reliant Defense Posture program.

Addressing the recent shooting incidents, Zubiri drew a sharp line between responsible owners and negligent ones.

“This was not the fault of responsible gun owners,” he said, blaming the tragedy on owners who failed to secure their firearms under Section 9 of RA 10591. He pledged to impose criminal liability and stiffer penalties for such negligence, arguing the current penalty of prision correccional “hindi po ata ito katumbas ng buhay ng mga batang namatay.”

“We must make those gun owners accountable. “They didn’t pull the trigger, but their negligence paved the way for the tragedy to happen,” Zubiri stated.

DSAS, organized by AFAD headed by Alaric Topacio, is the longest and premier firearms exhibition in the country. The trade show began last July 22 and ends on July 25 at the SMX Convention Center, Mall of Asia Complex.

Robin is comic relief amid harsh times

Senator-judge Robin Padilla provided comic relief Wednesday. Most welcome after NBI Director Melvin Matibag’s boring two-day testimony which disappointed Harry Roque, ‘Akala ko fireworks, kwitis lang pala.’ Recorded for posterity:

Padilla: ‘Ang nasasakdal po kasi dito ay ibinoto ng 32 million na tao. Sana po, aming mga mahal na kaibigan sa prosecution, ay isipin nating mabuti bago po tayo magbigay ng mga witness na may perjury na kaso. O, nagkaroon po kami ng dahilan na gumawa ng amenda na itong perjury ay amendahan. Pwede po ba ‘yon?’

Congresswoman-Chief Prosecutor Gerville Luistro: ‘Your Honor, with all due respect, I would like to take exception to the question and manifestation of the Honorable Senator-Judge Robin Padilla. First of all, we were able to verify already that there are no cases pending against the prosecution witnesses [NBI special agent John Mark Calilung, regional director Jeremy Lotoc, Matibag].

‘In addition, Your Honor, and only to respond to the concern of the Honorable Senator-Judge Padilla, ang conviction po ay hindi ground for disqualification unless it is final and unless it is punishable by more than one year and that the crime constitutes moral turpitude.’

Padilla: ‘Alam niyo po, napakaganda po ng inyong sagot. Sana hindi one-sided ang ating prosecution, ano? Kasi, alam niyo, kapag kayo, pag pabor sa inyo, alam niyo…’

Guffaws erupted from the gallery, provoking Padilla to glare and gnash: ‘Bawal po ang ginagawa nitong nasa harap natin na nagkukume-kumento. Hindi po sila allowed mag-ingay. Korte po ito.’

Truly, unlike the stomach, the brain does not alert you when it’s empty.

Only six million viewers follow livestreams of VP Sara Duterte’s impeachment trial. The rest of the 118 million Filipinos are busy coping with commodity price spikes.

Fuel rates again skyrocketed P11 more per liter Tuesday. As a result, chicken, pork and fish prices rose too. Veggies cost double. Carinderias have upped presyos, if not lessened takals.

Jeepney drivers are striking. Ride-hailing and taxi cabbies are demanding higher booking fees. Electricity and water bills have hit the ceiling.

Overall inflation is nearly seven percent, the Philippine Statistics Authority says. Food inflation alone is 5.4 percent.

Government has increased by P85 the daily wage in Metro Manila. That’s little relief for workers in the big city who can hardly make both ends meet.

Pay hikes are expected soon in other regions. Micro businesses have been exempted from granting it. Meaning, the 3.2 million laborers in micro will have to tighten belts some more. Big enterprises can well afford to pay – but will lay off perceived redundant and recent hires.

Small- and medium-sized enterprises will be hardest hit. Small have 10 to 99 employees, for an industry total of 2.5 million. Medium have 100 to 199, with 500,000 in all. Any more disruptions will force them to close shop.

Government is not expected to think of real solutions other than political ayuda. That means more taxes to be collected, only to be plundered by politicos.

Bongbong Marcos’ admin is merely coasting along. It promised P20-a-kilo rice during the 2022 election campaign. The staple has remained at P50 a kilo. Subsidies to bring it down at Kadiwa stores for indigents are band-aid solutions.

People are grumbling that BBM is not jailing any crony whom he chastised ‘Mahiya naman kayo!’ in July 2025 for flood works plunder. He has even promoted or reassigned Cabinet members implicated in the P1.7-trillion scam.

BBM’s popularity, trust and performance ratings have been dropping. Those of his archenemy VP Sara keep rising. Forty-nine percent will elect her president in 2028, according to Pulse Asia’s latest survey.

Many believe that Sara’s impeachment is due not to accountability, but her breakaway from BBM’s UniTeam admin. For them, whatever bombast BBM will let loose in his State of the Nation Address on Monday will be nothing more than hot air.

Robin Padilla is thus appreciated as much-needed entertainment. No need for trial lawyer Howard Calleja to tell him what everyone else knows:

‘One-sided po talaga ang prosecution at defense dahil trabaho nila ipagtanggol ang kani-kanilang panig sa abot-kaya nila. Ang nanumpa po na hindi dapat one-sided ay kayo, Robin Padilla, bilang senator-judge. Dapat po no blind political loyalty, dapat po neutral kayo, at huwag masyadong obvious na may bias at ‘sana hindi one-sided’.’

Action star Padilla is an ex-con. He was sentenced in 1994 to 21 years in prison for illegal possession of firearms. After serving two years and eight months he got presidential pardon. He prides himself with ‘UP-level education, University of Prison.’

So there.

ICYMI: Sara Duterte impeachment trial Week 3 highlights

The impeachment court this week granted the prosecution’s request to subpoena Vice President Sara Duterte’s bank, tax, and Anti-Money Laundering Council records while the House prosecution panel concluded its presentation of evidence on Article IV involving alleged grave threats.

The week also saw the prosecution’s final witness testify that Duterte’s controversial remarks against President Ferdinand Marcos Jr. and other officials constitute an active assassination plot, while lawmakers rejected the Office of the Vice President’s request for the Senate to shoulder the catering expenses of the defense team.

Key developments

July 20 (Day 7)

The Senate impeachment court granted the prosecution’s request to subpoena Duterte’s bank, tax and AMLC records, citing the precedent set during the 2012 impeachment trial of former Chief Justice Renato Corona.

The subpoenas cover accounts of Duterte, her husband Manases Carpio, their law partnership and 19 companies allegedly linked to them.

The court excluded foreign currency deposits and two companies it found were not sufficiently linked to Duterte.

Senate Clerk of Court Renato Bantug Jr. later confirmed that subpoenas were served on six banks, the Bureau of Internal Revenue (BIR) and the AMLC.

Senate impeachment court spokesperson Regie Tongol disclosed that the court had drafted the core of its ruling before the trial formally opened on July 6.

The defense said it was ‘shocked’ after Senate impeachment court spokesperson disclosed that much of the ruling had already been drafted before the trial formally opened on July 6, although it said it respected the court’s decision.

Defense lawyers maintained that the subpoenas should not be interpreted as proof of wrongdoing and vowed to challenge the evidence when presented.

NBI Director Melvin Matibag, the prosecution’s final witness for Article IV (grave threats), testified before the impeachment court.

Senate President Francis Escudero admonished and reminded Matibag to refrain from making public comments about senator-judges.

Matibag said the NBI now considers Duterte’s November 2024 statements as a serious, continuing assassination plot and a national security concern.

He testified that investigators have narrowed the search for the alleged hitman to fewer than 20 persons of interest.

During cross-examination, the defense questioned the basis of the NBI’s conclusions and the evidence linking Duterte to an actual assassination plan.

July 22 (Day 9)

The House prosecution panel formally rested its case on Article IV after concluding Matibag’s testimony.

Prosecutors argued Duterte’s public admission that she had spoken to someone about killing President Marcos, First Lady Liza Araneta-Marcos and former House Speaker Martin Romualdez was sufficient to establish betrayal of public trust.

The prosecution also presented a 2011 video showing Duterte punching a sheriff in Davao and introduced the affidavit of self-confessed Davao Death Squad member Arturo Lascañas to establish what it described as a pattern of violence.

The defense, meanwhile, continued to challenge the prosecution’s theory, maintaining that the evidence failed to prove the existence of an actual assassination conspiracy.

During the week

Senate President Sherwin Gatchalian rejected the Office of the Vice President’s request for the Senate to pay for the defense team’s food and catering expenses, citing budget constraints.

Sen. Erwin Tulfo said the Senate majority also opposed the request, warning it could draw scrutiny from the Commission on Audit.

House prosecutor Terry Ridon said granting the request could expose the Senate to possible procurement issues because the OVP wanted to use its own accredited caterer at Senate expense.

Sen. Robin Padilla questioned the prosecution’s role during the trial, drawing criticism from House lead prosecutor Gerville Luistro and private prosecutor Lorna Kapunan, who maintained that prosecutors are duty-bound to advocate for the impeachment complaint.

Sen. Erwin Tulfo also urged senator-judges to avoid using the proceedings to air personal grievances.

Detained Sen. Rodante Marcoleta asked the impeachment court to allow his vote to be counted, citing a similar arrangement during the Estrada impeachment trial

How Much Does a Virtual Dollar Card Cost in Nigeria in 2026?

A virtual dollar card in Nigeria costs as little as $1 to create, but that card creation fee is only one piece of the puzzle. The real cost of a virtual dollar card includes top-up fees, cross-currency charges, a minimum balance, and failed transaction fees, and these small charges add up fast if you don’t know what to look for. In this guide, we break down exactly how much a virtual dollar card costs in Nigeria, explain every fee attached to it, and compare Cardsoon with other apps so you can see who is actually the cheapest.

How Much Does a Virtual Dollar Card Cost in Nigeria in 2026?

In 2026, a virtual dollar card in Nigeria typically costs between $1 and $2 to create, plus a small maintaining balance of around $1 that stays on the card. On top of that, most apps charge a funding fee of 1.5% to 2% every time you load money, and a per-attempt fee whenever a payment is declined.

So when someone asks how much a virtual dollar card costs in Nigeria, the honest answer is: it depends on how you use it. A card with a cheap creation fee but a high top-up fee can end up costing you more than a card with a slightly higher creation fee and lower ongoing charges. On Cardsoon, the card creation fee is just $1, one of the lowest in the market, and the funding fee sits at 1.5%.

What Fees Come With a Virtual Dollar Card in Nigeria?

Before you pick a card, it helps to understand the full list of virtual dollar card fees you might pay. Here are the main ones to watch:

Card creation (issuing) fee: a one-time charge to generate the card. This is the number most apps advertise, usually $1 to $2.

Card funding (top-up) fee: a percentage taken every time you load dollars onto the card, usually 1.5% to 2%. Many apps also set a minimum top-up amount.

Minimum / maintaining balance: a small amount, often around $1, that must stay on the card to keep it active.

Cross-currency (cross-border) fee: charged by VISA or Mastercard when you spend in a currency other than USD, typically 2.5% plus about $0.50.

Failed / declined transaction fee: a charge each time a payment is attempted but rejected. This is the fee most people forget, and it can quietly drain your balance.

Transaction fee: a charge on successful payments. Some apps add this; on Cardsoon it is $0.

Withdrawal fee: charged when you move funds off the card back to your wallet, where withdrawals are supported.

Not every fee comes from the app itself. Cross-currency and some decline fees are charged directly by VISA or Mastercard, so they apply no matter which provider you use. The fees an app actually controls are creation, funding, transaction, and withdrawal, and that is where the real difference shows up.

art question isn’t just ‘what’s the card creation fee?’ but ‘what will this card cost me to actually use?’

Cardsoon Virtual Dollar Card Fee vs Other Apps

To make the difference clear, here’s how Cardsoon’s virtual dollar card fees stack up against other apps in Nigeria on a line-by-line basis:

Fee Cardsoon Other apps (e.g. Cardtonic)

Card creation (issuing) fee $1 $1.50

Card funding (top-up) fee 1.5% (min. $3 top-up) 2% (min. $5 top-up)

Minimum / maintaining balance $1 $1

Transaction fee $0 Not stated

Card maintenance fee $0 $0

Cross-currency (cross-border) fee 2.5% + $0.50 (VISA/Mastercard) 2.5% + $0.50

Failed / declined transaction fee (foreign) $0.40 per attempt $0.30 per attempt

Failed / declined transaction fee (domestic) $0.06 per attempt $0.30 per attempt

Withdrawal fee Withdrawals not enabled yet $1

Looking at the full picture, Cardsoon comes out cheaper on the fees that matter most: a lower card creation fee ($1 vs $1.50), a lower funding fee (1.5% vs 2%), a lower minimum top-up ($3 vs $5), no transaction fee, and a much lower domestic decline fee ($0.06 vs $0.30). The one area where another app may charge less is the foreign decline fee, but that fee only applies when a payment fails outside the US, which is avoidable with a funded card and a valid billing address.

How to Calculate the Real Cost of a Virtual Dollar Card Before You Sign Up

Instead of guessing, you can estimate your true cost with a quick formula:

Real cost = creation fee + (amount you fund × funding fee) + maintaining balance + expected decline fees + cross-currency fee on spend.

Walk through it in order:

Start with the one-time card creation fee.

Estimate how much you’ll fund per month, then multiply by the funding fee to get your top-up cost.

Add the maintaining balance you can’t spend while the card is active.

Add a small buffer for failed transaction fees, especially if you use the card for subscriptions.

Add the cross-currency fee only if you’ll spend in a currency other than USD.

Run this quick check on any two apps and the cheaper virtual dollar card usually becomes obvious, and in most Nigerian use cases, that’s Cardsoon.

Which App Has the Cheapest Virtual Dollar Card in Nigeria?

Based on the fee breakdown above, Cardsoon offers one of the cheapest virtual dollar cards in Nigeria, thanks to its $1 creation fee, 1.5% funding fee, and $0 transaction fee. Because it’s cheaper on the recurring fees, not just the one-time creation fee, the savings compound the more you use the card.

Of course, price isn’t the only thing to weigh. You’ll also want a provider that funds cards instantly, has a reliable app, and lets you turn other values, like gift cards, into dollars you can load. That mix of low fees and fast funding is what makes an app worth keeping.

Frequently Asked Questions About Virtual Dollar Card Costs in Nigeria

How much does it cost to create a virtual dollar card in Nigeria?

Creating a virtual dollar card in Nigeria usually costs between $1 and $2. On Cardsoon, the card creation fee is $1, one of the lowest available. Remember to also budget for the funding fee and a small maintaining balance on top of the creation fee.

Is there a fee for funding a virtual dollar card?

Yes. Almost every app charges a funding (top-up) fee, usually 1.5% to 2% of the amount you load. Cardsoon charges 1.5% with a minimum top-up of $3, while some other apps charge 2% with a $5 minimum. This top-up fee is one of the biggest recurring costs, so it’s worth comparing.

What is a failed transaction fee on a virtual dollar card?

A failed transaction fee is charged when you try to make a payment but it gets declined, often because of insufficient balance or a billing mismatch. Depending on the app and whether the payment is domestic or foreign, it can cost $0.06 to $0.40 per attempt. These fees are charged by the card network, so they apply across most providers.

Why did my virtual dollar card transaction get declined?

Common reasons include not having enough balance to cover the payment plus fees, entering a billing address that doesn’t match your card details, or the merchant blocking certain card types. Each declined attempt can trigger a small failed transaction fee, so make sure your card is funded and your details are correct before retrying.

Which app has the cheapest virtual dollar card in Nigeria?

Cardsoon is among the cheapest, with a $1 creation fee, a 1.5% funding fee, no transaction fee, and a low $0.06 domestic decline fee. Because it charges less on the fees you pay repeatedly, it often works out cheaper overall than apps with a similar headline price.

Can I withdraw money from my virtual dollar card?

On Cardsoon, withdrawals from the virtual dollar card are not enabled at the moment, so the card is designed for spending online rather than cashing out. Some other apps allow withdrawals but charge around $1 to do so. Always check the withdrawal policy before loading large amounts.

Do virtual dollar cards charge a monthly maintenance fee?

Most reputable apps, including Cardsoon, do not charge a monthly card maintenance fee, so the card itself is $0 to keep. You will, however, need to keep a small maintaining balance of about $1 on the card to keep it active.

The Bottom Line on Virtual Dollar Card Costs in Nigeria

The real cost of a virtual dollar card in Nigeria isn’t just the creation fee, it’s the top-up fee, the maintaining balance, and the failed transaction fees you pay over time. Compare apps on all of those, not just the headline price, and Cardsoon consistently comes out as one of the cheapest and most transparent options.

Ready to get a low-fee virtual dollar card and fund it fast? Fund yours in minutes with the best gift card trading app with highest rates, and turn your gift cards into dollars you can spend anywhere.

Go Beyond Consulting Rooms – Healthcare Givers Urged

The Clinical Coordinator for Family Health University Medical School (FHMS), Dr. Anim Boamah, has reminded healthcare practitioners not to strive for professional excellence alone, but to also align their operations with integrity and ethical leadership.

He explained that marrying the three principles together was the surest way of providing the best healthcare needed by all Ghanaians and the rest of the world, as well as the provision of the needed leadership for effective healthcare delivery.

Dr. Anim Boamah made the call when he delivered an address during the launch of the 2026 Family Health University Medical Students Association (FHUMSA) week celebration in Accra on Monday.

The week-long annual event will see the students engaging in various activities such as a health walk, health screening, and socialisation, among other events.

He stated that although professional excellence was very critical for the healthcare givers, there was the need for patients to trust the caregivers, which could only be asserted through integrity and ethical leadership.

Speaking on the theme ‘Advancing Healthcare through Professional Excellence, Integrity, and Ethical Leadership,’ the Clinical Coordinator commended the leadership of the Medical Students for the theme since it was apt.

‘Since the best healthcare systems are built on collaboration among doctors, nurses, pharmacists, laboratory scientists, physiotherapists, administrators and many others, respect every member of the healthcare team,’ Dr. Boamah said.

The Ledzokuku Municipal Director of Health Services, Dr. Gifty Ofori Ansah, urged doctors not to restrict their services only to the consulting room, within the walls of their hospitals, but engage in community services towards health improvement and disease control, which is critical for a healthy life.

‘Beyond the white coat, the role of the medical students in building healthy communities cannot be overemphasised, because medicine is not just about treating diseases but it is also about understanding why people get sick in the first place and how to prevent it as well,’ she said.

The President of FHUMSA, Bernard Opoku Junior, in his welcome address, said, ‘This week is more than just celebration as it is an opportunity to promote unity, leadership, service, and professional growth among us as future doctors, as our theme, Healthy Communities, Strong Nation: Empowering Medical Students to Drive Change.’

An Associate Professor of Pediatrics in charge of Travel Abroad Programmes, Evelyn Aboagye, and her students from the University of Virginia extended their warmest congratulations and best wishes to the Family Health University Medical Students’ Association as they celebrated their Students’ Association Week.

‘We are proud of the growing partnership between the University of Virginia and Family Health University. Through our shared commitment to education, service, and global collaboration, we continue to learn from one another while preparing the next generation of compassionate, skilled, and socially accountable healthcare leaders,’ she said.

The Family Health University Medical Students’ Association, through the MSA Fund and the Ivy Naana Durowaa Fund (INDF) – Office of the Vice President (2025/2026) has donated GHS5,000 to Cure Childhood Cancer Ghana in support of children battling cancer, including patients receiving care at Ridge Hospital.

This contribution reflects FHUMSA’s commitment to improving child health outcomes, supporting vulnerable patients, and contributing to the fight against childhood cancer in Ghana.

Private sector gets N2.2tr credit in 30 days, says CBN

Private sector secured loans worth N2.22 trillion in 30 days ended June 30, the Central Bank of Nigeria (CBN) economic data for the month has shown. Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.

Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.

The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.

The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.

Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.

The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21. The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.

The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.

The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.

President Tinubu urges Nigerian medical professionals in diaspora to return home, strengthen Nigeria’s health sector

President Bola Ahmed Tinubu on Friday urged Nigerian medical doctors and other healthcare professionals in the diaspora to return home and lend their expertise to the ongoing transformation of the nation’s healthcare sector under the Renewed Hope Agenda.

President Tinubu stated this when he received a delegation of Nigerian Diaspora Medical Associations Worldwide led by the Chief Executive Officer of the Nigerians in Diaspora Commission (NIDCOM) Hon. Abike Dabiri-Erewa, as part of the 2026 National Diaspora Day Celebration at the State House, Abuja.

The event had in attendance the Minister of Information and National Orientation Alhaji Mohammed Idris Malagi, Minister of State for Health Dr. Iziaq Adekunle Salako, the Special Adviser to the President on Media and Public Communications Chief Sunday Dare, Special Adviser to the President on Health Dr. Salma Ibrahim Anas and Senior Special Assistant to the President on Women’s Health Dr. Adanna Steinacker.

The President acknowledged that Nigeria needs the knowledge, innovation, experience and patriotism of its highly skilled professionals abroad to build a resilient and world-class healthcare system for all citizens.

‘It is a very great joy to see that you are coming back to facilitate your single motivation to help your country meet the needs of our people, the medical outreaches; seeing indivisible commitment to humanity is part of your singular oath and commitment in life. I thank all of you.

‘I have been through that journey, I’m home now and I can tell you there’s nowhere like home. Some people built the society where you are; they have their hands on their plough, their focus was to develop their nation and their continent.’

The President recounted how he came to Nigeria after his experiences with Deloitte and Touche and working with Mobil (company) and eventually came to Nigeria to contribute his quota to nation building.

He reaffirmed that the Renewed Hope Agenda places healthcare at the centre of national development, stressing that the Federal Government is implementing far-reaching reforms to strengthen primary healthcare, expand access to quality medical services and encourage greater collaboration with Nigerian professionals in the diaspora.

He said this would be achieved through sustained investments in medical education, research, digital health infrastructure, improved welfare and policies to reverse the trend of brain drain.

‘So many of you have seen the hazard of the other side of the world. You have experienced the challenges and you have come back home to feel it and seal it. Poverty and lack of development is a challenge to Africa but what do you see as a Nigerian? This is the heart of Africa. And I have interacted with many of you, my friends who are still out there to try to attract them home.

Your Excellency, the visitors said having been trained in Nigeria and because they are Nigerians and succeeded abroad but they want to come back home and do something and that is why we have the diaspora commission encouraging them and working with them to ensure that they play a part in your Renewed Hope Agenda.

‘Mr. President, it is your leadership qualities that made them agree to come collectively and make this impact in the health sector. Mr President, some of our people are leaving, but they’re also coming back with knowledge, and expertise to make Nigeria a better place. So, what is your role in making Nigeria a better place? What is your role in the Renewed Hope Agenda? We are glad you are here, so welcome home,’ Abike to the visitors.

Also speaking, the Minister of State for Health Dr. Salako, said the commitment of the diaspora medical professionals has further validated the power and the reach of the Renewed Hope Agenda in the health sector.

‘What we are seeing today further demonstrates that you are not only renewing the hope of Nigerians in Nigeria but, even Nigerians outside Nigeria are filling the agenda. And so, when your excellency declared in that renewed hope agenda document that the health of every Nigerian will be treated as a matter of urgent rights, our brothers and sisters abroad keyed into it.

‘Since I became the minister of state for health, I have had interface with virtually everybody physically online. And I can tell you, excellency, these are very motivated, very ready, very prepared Nigerians who want to give back to Nigeria,’ he said.

The Minister added that the Ministry of Health will henceforth make the collaboration with the Diaspora health professionals a yearly event in their calendar.

The delegation included Dr. Jide Menakaya, Dr. Kunle Akanbi, Dr. Uche Menakaya, Dr. Itua Iriogbe, Professor Afekhide Ernest Omoti, Dr. Cliff Ike, Dr. Gertie Anyanwoke.

Others are Professor Rotimi Jaiyesimi, Dr. Hamid Balogun, Dr. Sadiya Gumi, Dr. Benjamin Anyanwu, Dr. Emilia Iwu, Chike Nweke, Wendy Olayinka, Dr Timileyin Oluseye, Dr Charles Adekunle and Tayo Erogbogbo.

Ayala marks 12th straight year in FTSE4Good Index

Ayala Corp. and several of its listed subsidiaries have retained their places in the FTSE4Good Index Series, extending the conglomerate’s track record in one of the world’s widely followed sustainability benchmarks.

In a disclosure on Thursday, the country’s oldest conglomerate said it was included in that index for the 12th consecutive year following the June 2026 review by global index and data provider FTSE Russell.

Its core businesses-ACEN Corp., Ayala Land Inc. (ALI), Bank of the Philippine Islands (BPI) and Globe Telecom Inc.-also remained constituents of the index.

The FTSE4Good Index Series tracks companies that demonstrate strong environmental, social and governance practices.

Investors and other market players use it as a benchmark for responsible investment funds and related products. Companies are assessed on criteria that include corporate governance, health and safety, anticorruption measures, and climate change performance.

Ayala Corp., ALI and BPI have been part of the index since 2015. Globe was included starting in 2016 and ACEN in 2023