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The Central Bank of Nigeria (CBN) has cut its benchmark interest rate, the Monetary Policy Rate (MPR), to 27 percent, signaling a cautious shift toward growth-focused monetary policy.

The decision, taken at the 302nd Monetary Policy Committee (MPC) meeting on September 22-23, 2025, underscores Nigeria’s intent to align with global trends as major central banks pivot toward easing after years of aggressive tightening.

The rate cut comes on the back of five consecutive months of disinflation, a stronger external reserve base, and accelerating economic growth. Headline inflation dropped to 20.12 percent in August, down from 21.88 percent in July, while the economy expanded by 4.23 percent in Q2 2025, buoyed by a 20.46 percent rebound in oil sector output.

‘The stability in the macroeconomic environment has offered headroom for monetary policy to support economic recovery.’

The move is expected to reduce borrowing costs, encourage credit expansion, and reinforce recovery momentum in Africa’s largest economy.

The MPR cut of 50 basis points, coupled with adjustments to the Cash Reserve Ratio (CRR) and standing facilities corridor, represents a notable recalibration of monetary stance. The CRR for commercial banks was set at 45 percent, while a new 75 percent CRR on non-TSA public sector deposits was introduced to tighten liquidity management.

Analysts say these measures, alongside a stable liquidity ratio of 30 percent, are aimed at balancing growth ambitions with financial system stability.

For the private sector, the cut could bring relief. Lower rates are expected to ease financing costs for businesses, particularly small and medium enterprises (SMEs), and stimulate consumer demand. For government, the decision provides policy support to deepen private investment and sustain fiscal reforms.

But questions remain about transmission effectiveness. Historically, Nigeria’s high-risk lending environment has limited the extent to which rate cuts translate into cheaper credit for businesses and households.

Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane, described the CBN’s decision as ‘tactically appropriate,’ given moderating inflation and relative exchange rate stability.

‘The CBN is simply seizing the opportunity provided by the disinflationary trend to stimulate the economy. But the success of this rate cut depends on whether banks can actually lend at lower rates and businesses can absorb that credit effectively,’ he said.

Rewane warned that while Nigeria is aligning with global easing, risks remain.

‘Globally, central banks are cutting rates to encourage growth, but Nigeria’s inflation is still above 20 percent. Without structural reforms to complement monetary easing, the benefits could be muted.’

For him, the cut is a signal, but real impact will depend on reforms in energy, infrastructure, and fiscal consolidation.

Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), welcomed the move, stressing the importance of easing for Nigeria’s overburdened private sector.

‘This is a step in the right direction. Businesses have been grappling with double-digit lending rates that often exceed 30 percent. The reduction in MPR sends a positive signal to the market and could help reduce financing costs, especially for SMEs,’ he said.

Yusuf argued that an excessive focus on inflation control has slowed growth and worsened unemployment.

‘Monetary policy must strike a balance. For too long, the emphasis has been on price stability, often at the expense of growth. This easing shows that the CBN is beginning to prioritize recovery and job creation, which is critical at this point.’

He also called for complementary fiscal measures-tax incentives, infrastructure spending, and investment in production-to reinforce the effect of monetary easing.

Also, the CEO of The CFG Advisory, Mr. Tilewa Adebajo, emphasized that Nigeria’s move mirrors a wider global shift.

According to him, ‘We are seeing the U.S. Federal Reserve, the European Central Bank, and several emerging market central banks pivot toward easing after extended tightening cycles. Nigeria is essentially aligning with this global trend,’ Adebajo observed.

He pointed out that Nigeria’s stronger external reserves, now at $43.05 billion with an import cover of 8.28 months, and a current account surplus of $5.28 billion, provide a buffer against potential capital outflows.

‘The stronger reserves and a surplus current account give Nigeria some room to maneuver. But policymakers must remain vigilant because global uncertainties-ranging from geopolitical tensions to commodity price volatility-could quickly change the outlook,’ he said.

According to Adebajo, investor confidence depends on policy consistency:

‘This decision signals to investors that Nigeria is committed to supporting growth while managing risks. But execution and credibility remain paramount.’

Nigeria’s rate cut comes amid a wave of global monetary easing. In the U.S., the Federal Reserve has hinted at rate cuts as inflation cools and labor markets soften.

The European Central Bank (ECB) lowered rates earlier this year to counter weak growth in the Eurozone.

In emerging markets, Brazil, Chile, and South Africa have also begun easing after years of steep tightening.

By moving in tandem, Nigeria ensures its policy stance does not become a drag on competitiveness or capital flows.

The CBN’s easing was enabled by improved macroeconomic fundamentals: Headline inflation declined to 20.12 percent in August, with both food and core components easing; GDP expanded 4.23 percent in Q2, driven by oil sector recovery and resilient non-oil performance; Reserves rose to $43.05 billion, while the current account surplus expanded to $5.28 billion in Q2; Ongoing recapitalization has strengthened banks, with 14 institutions already meeting new capital thresholds.

Stakeholders believe that together, these factors provided the CBN with space to pivot toward growth without undermining financial stability.

But, despite positive fundamentals, significant challenges loom. The MPC flagged the build-up of excess liquidity in the banking system, largely from fiscal disbursements linked to improved revenues. If not managed, this could reverse the disinflation trend.

Other structural hurdles include: Inadequate infrastructure, particularly in power and logistics.

A high level of informality, limiting monetary policy reach; Shallow credit penetration, which restricts transmission of rate cuts into real economic activity; Externally, Nigeria remains exposed to global uncertainties: geopolitical conflicts, commodity price swings, and volatility in capital flows.

The MPC projects further disinflation in the months ahead, supported by stable exchange rates, subdued energy prices, and the harvest season’s boost to food supply. If these projections hold, the CBN may have more room for easing in late 2025.

Still, analysts caution that monetary easing alone is insufficient. Broader economic reforms are needed to unlock growth.

As Rewane succinctly noted:’Cutting rates is the easy part. Ensuring that the cut translates into real growth is the harder challenge.’

The CBN’s decision is both symbolic and strategic. It signals Nigeria’s intent to stimulate growth, deepen credit markets, and attract investment, while also aligning with global monetary trends.

Yet, the true test will be execution. Without policy consistency, structural reforms, and coordination with fiscal authorities, the easing could fall short of expectations.

For now, the move has been welcomed as pragmatic. As Tilewa Adebajo put it, ‘Nigeria is finally moving in step with the global orchestra of monetary easing.’ The challenge ahead is ensuring that this harmony produces real, inclusive, and sustainable growth for the Nigerian economy.

Disqualified Big Brother Naija Season 10 housemate, Faith Adewale, professionally known as Faith, has received a warm embrace from his father, who reassured him of unwavering love and support despite the setback.

In a now-viral video on social media, Faith’s father encouraged him with uplifting words, saying, ‘Don’t worry, you’re great, don’t worry, you’ve done well, no doubt about that. You are fantastic. We love you. It shall continue to be well. Nobody can truncate your destiny.’

Faith was disqualified on Thursday following a heated altercation with fellow housemate, Sultana, which turned physical, a violation of the show’s no-violence rule.

The organisers immediately ordered his removal from the house.

The disqualification makes it 9 housemates remaining in the house for the finale.

The lingering controversy over control of Osun State’s local government allocations took another twist on Thursday as the 30 elected council chairmen secured a fresh court order against UBA, freezing bank accounts earlier opened by the sacked APC council bosses.

An Oyo State High Court sitting in Ibadan, presided over by Justice A. L. Akintola, granted the interim injunction in an ex-parte motion brought by the elected chairmen. The order restrains UBA from paying, releasing, or tampering with funds deposited in the 30 local government accounts where the CBN controversially lodged statutory allocations belonging to Osun councils.

The Certified True Copy (CTC) of the order, signed by the Principal Registrar of the Oyo State High Court, Mrs. B. O. Somide, was issued on 2 October 2025 and obtained by reporters on Friday.

The claimants, led by Hon. Sarafadeen Awotunde and five others on behalf of all the 30 council chairmen and councillors in Osun State, argued that unless the court intervened urgently, the funds could be dissipated illegally by the ousted APC chairmen, causing irreparable harm to the lawful administrations of the councils.

In his ruling dated 2 October 2025, Justice Akintola agreed that the matter required urgent judicial intervention.

‘Having carefully considered the claimants/applicants’ motion ex-parte together with the supporting affidavits and exhibits, this court is satisfied that the claimants/applicants have successfully made out a case for urgent and timely intervention, as any delay in granting the interim orders might foist irreversible harm on them,’ the judge declared.

Consequently, the court granted:

An order of interim injunction restraining UBA from paying, releasing, disbursing, or tampering with funds in the disputed local government accounts.

An order of mandatory injunction mandating UBA to place a ‘Post No Debit’ (PND) lien on the affected accounts pending the hearing of the substantive motion on notice.

The affected accounts include those of all 30 local governments in Osun State, from Atakumosa East to Osogbo Local Government Area, each identified by name and account number with UBA.

The suit, filed as Suit No. 1/1167/2025 at Court No. 5 of the Ibadan Judicial Division, was moved by counsel to the claimants, Olalekan Adeoye Esq.

Justice Akintola adjourned the hearing of the substantive motion on notice for interlocutory injunction to 9 October 2025.

This latest ruling comes amid heightened tension over Osun’s local government allocations, with the rival camps of sacked APC chairmen and the current elected PDP chairmen locked in a fierce legal battle.

The state government had, on Friday last week, obtained a similar injunction against the accounts in a case instituted by the Attorney-General of Osun State.

The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has rejected claims that Islam is aimed at capturing political power in Nigeria, insisting that its focus is on promoting good governance.

He made this known in Abuja at the unveiling of the book ‘Scars: Nigeria’s Journey and the Boko Haram Conundrum’, authored by former Chief of Defence Staff (CDS), Gen Lucky Irabor (rtd).

‘I also want to correct the notion when Bishop (Matthew) Kukah talked about Islamism. You use some words maybe in the wrong manner, or somebody might feel Islamism is negative.

‘Islamism is not aimed at seizing power at any particular forum. Islam is after good governance in society,’ he stated.

The monarch recalled how former President Goodluck Jonathan received full support from Muslims during his administration, stressing that religion was never used as a tool against him.

‘When President Goodluck Jonathan was President, we gave him 100 per cent support. Throughout his presidency, nobody said anything negative against him; he knows that, and he is here.

‘So, Islamism is not what you think it is; it is a wrong notion that you are bringing up here that it is to seize power. It is not to seize power. We’re after good governance,’ he added.

He explained that Muslims are guided by a clear code of conduct rooted in the Quran, Hadith, and the consensus of clerics, stressing that Islam rejects extremism.

‘And these are written. So, we have a code of conduct; we have ways and means of life; the Holy Quran and the Hadith of our most noble Prophet (SA), and the consensus of the Ulama, that is, the clerics.

‘These are the three things guiding us. Anybody coming outside these to say things that he really doesn’t know about is not for Islam because Islam abhors extremism.

‘You cannot be an extremist and then claim to be a good Muslim. So, let’s learn some of these issues, and then when we are talking about insecurity in our great country, we have to be careful in how we say things, how we present them.

‘So, let’s come closer as one big family with different backgrounds to forge ahead to make this country a better country, because there is nothing anybody can do,’ he stated.

The Sultan, who is also Chairman of the Northern Traditional Rulers Council, further dispelled the perception that Jihad promotes violence against non-Muslims.

‘Jihad is not to kill a non-Muslim by a Muslim. Jihad means to strive, and in whatever you do in life, you strive to be the best you can be.

‘You strive to be a good Muslim, you strive to be a good Christian, you strive to be a good farmer, or a good engineer.

‘So, Jihad is not to kill a non-Muslim; that’s a wrong notion people have been airing out for decades,’ he added.

He commended General Irabor for his service to the country and for documenting his experiences as a military officer who played a key role in the fight against insecurity.

The Central Bank of Nigeria (CBN) has said that its sweeping monetary and foreign exchange reforms over the past two years have restored investor confidence, stabilised the naira, and laid the foundation for long-term growth.

Governor Olayemi Cardoso, delivering the keynote at the Lagos Business School’s P

leadership lecture on Friday, recalled the precarious economic situation he inherited in 2023 when inflation was spiralling, reserves were strained, and investor confidence had collapsed.

‘It was a moment that demanded not just technical skill, but leadership rooted in courage, credibility, and accountability. We had to act decisively,’ he said.

According to him, the CBN raised rates by over 800 basis points to tackle inflation, halted central bank overdrafts beyond statutory limits, unified the exchange rate, and cleared a backlog of foreign exchange obligations.

The apex bank also strengthened reserves, now above $42 billion, and launched new channels for diaspora remittances.

The results, Cardoso said, are beginning to show. Inflation, which had peaked near 35 percent, has moderated to about 20 percent. GDP grew 4.2 percent in the second quarter of 2025, capital inflows are rebounding, and Nigeria’s sovereign credit outlook has improved.

‘These shifts suggest more than a cyclical adjustment. They mark the outlines of a developmental inflection point where investor confidence is being rebuilt and Nigeria positions itself for structural renewal,’ he said.

The CBN governor, however, cautioned that the gains must be translated into durable prosperity. ‘This is only the beginning. The real task is ensuring these hard-won improvements translate into jobs, stability, and long-term growth for the next generation,’ Cardoso added.

Earlier in her welcome address, Professor Olayinka David-West, Dean, Lagos Business School, Pan Atlantic University, noted that the CBN Governor’s Lecture Series is a flagship platform and part of the Governor’s Knowledge Acceleration and Thought Leadership Initiative, which is central to the Central Bank’s strategy of deepening public understanding and strengthening monetary policy transmission.

She recalled that two years ago, at the Senate Confirmation Hearing, the Governor, Mr. Olayemi Cardoso, and his Deputy Governors promised compliance, accountability, and transparency, thus noting that the lecture was a fulfillment of the promise and a framework for such accountability.

The First Lady of the Federal Republic of Nigeria, Oluremi Tinubu, on Friday, performed the official commissioning of the 100-bed capacity ultra-modern mother and child specialist hospital in Gombe.

The hospital, named in her honour, is part of the government’s efforts through the Office of the Senior Special Assistant to the President on Sustainable Development Goals (SDGs) to strengthen healthcare infrastructure.

Speaking at the ceremony, Senator Tinubu ‘has opened doors to life, hope and a brighter future for women and children of Gombe and beyond.’

She emphasised that maternal and child health remains at the heart of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to ensure every Nigerian child has a healthy start in life.

‘It is my belief that this facility will provide quality health services, reduce maternal and infant mortality and bring relief to countless families,’ the First Lady said.

She expressed profound gratitude to Governor Muhammadu Inuwa Yahaya, his wife Hajiya Asma’u, and the people of Gombe for naming the hospital after her, commending the Governor’s sustained commitment to healthcare development.

The Senior Special Assistant to the President on SDGs, Princess Adejoke Orelope-Adefulire, in her remarks, said the project underpins Nigeria’s commitment to achieving the UN Sustainable Development Goals, particularly Goal 3 which focuses on good health and well-being.

The inauguration was attended by Governor Inuwa Yahaya, his wife, the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and other dignitaries.

A former acting governor of Ekiti State, Tunji Odeyemi has emerged as the new state chairman of the People’s Democratic Party (PDP) in the state.

Odeyemi was elected during the state Congress of the party held in Ado-Ekiti, the state capital which was attended by delegates and party stakeholders across the 16 Local Government Areas of the state. It was witnessed by security agencies

He scored 936 votes to defeat his challenger and a former state legal officer of the party, Sunday Olowolafe who garnered 290 votes.

Delivering his acceptance Odeyemi commended the party leaders and delegates for the overwhelming support in leading the State Working Committee in the state, noting that the confidence reposed in him would not be betrayed.

He saluted the courage and commitment of all the contestants towards the growth and progress of the PDP, soliciting the support of all stakeholders in a bid to reposition the party for success during the 2026 governorship election. According to him, ‘ My emergence today is not about Tunji Odeyemi. It is about the PDP family in Ekiti reclaiming its rightful place as the true voice of the people, the hope of the common man, and the credible alternative for good governance. We must therefore put behind us the divisions of the past and focus on unity, discipline, and loyalty to the ideals of our party.

‘ Our state, Ekiti, is in dire need of rescue from maladministration, poverty, and neglect. The PDP must rise to this challenge and provide the leadership that our people are yearning for. We will strengthen our grassroots structures, empower our youths and women, and ensure internal democracy where every member has a sense of belonging.

‘ As your Chairman, I pledge fairness, inclusiveness, and transparency in all our dealings. I will run an open-door policy where all voices are heard, respected, and valued. Together with the State Working Committee, we will reposition PDP in Ekiti to win elections and deliver dividends of democracy to our people.

‘ Finally, I call on every member of our great party to close ranks. Let us speak with one voice, march with one spirit, and labour with one purpose,to return PDP to Government House, Ado-Ekiti, and restore prosperity, dignity, and hope to our people.’

Akwa Ibom State Police Command has arrested two suspected hoodlums and recovered a fabricated AK-47 rifle and other dangerous weapons during a routine patrol in Uyo.

The suspects, identified as Joshua Benjamin from Mbiaku, Ikono Local Government Area, and Kingsley Friday Michael from Ikot Ekop, Ibiono Ibom Local Government Area, were apprehended in the early hours of Thursday, October 2, 2025, along Idoro Road by Abolin Junction.

According to the Police Public Relations Officer, DSP Timfon John, operatives on routine patrol spotted the duo loitering suspiciously at a dark spot at about 12:30 a.m. Their conduct drew the attention of the patrol team, leading to their arrest.

A search conducted on the suspects led to the recovery of a fabricated revolving AK-47 rifle and a jackknife. The police said the suspects, upon interrogation, failed to provide any credible explanation for their presence at the location or for the possession of the firearm.

‘They falsely claimed to be security guards but could not present uniforms, any means of identification, or credible justification for the weapon in their possession,’ DSP John disclosed.

The suspects, now in custody, are undergoing further interrogation as investigations continue to establish their possible links to criminal activities within the state.

Reassuring members of the public, the Police Command reiterated its commitment to safeguarding lives and property, warning that criminal elements will find no hiding place in Akwa Ibom.

The Command also urged residents to remain vigilant and promptly report suspicious movements or activities to the nearest police formation for swift action.

The National Association of Nigerian Students (NANS) has condemned in strong terms the recent appointment by the Lagos State government of Ayomiposi Oluwadahunsi, popularly known as Mandy Kiss, as a brand ambassador of the State’s ‘Kick Against Drug Abuse’ (LASKADA) campaign, calling for the immediate withdrawal of the appointment.

The students’ body noted that while the LASKADA campaign is laudable, the choice of Ayomiposi as ambassador for such a role is both inappropriate and counterproductive.

Mandy Kiss, barely a few days before this appointment, publicly made statements about engaging in mass sexual activity in order to enter the Guinness Book of Records, remarks that went viral and generated national outrage.

Such a pronouncement, according to NANS, is inconsistent with the values of responsibility, dignity, and self-control that a public health campaign like LASKADA is meant to promote.

In a statement made available by the National Assistant Secretary-General of NANS, Adejuwon Olatunji Emmanuel, the association said: ‘The credibility of the messenger is as important as the message, and in this case, the messenger undermines the message.

‘So, the decision by the Lagos State Commissioner for Youth and Social Development, Mobolaji Ogunlende, to approve Ayomiposi’s appointment for the mentioned role raises serious questions about judgement and due process.’

NANS said further that: ‘Influence alone cannot be the basis for such a sensitive role. While it is true that young people listen to influencers, the right ambassadors must combine influence with credibility, education, and a track record of positive impact.

‘There are countless educated young Nigerians – students, graduates, professionals, and responsible social media influencers – who command both visibility and respect, and who would have been far more deserving choices for this role.

‘We strongly believe that this appointment sends the wrong message at a time when the government should be intentional about values, role models, and the future of Nigerian youth. By endorsing controversial figures with questionable conduct, the state risks trivialising the fight against drug abuse and eroding public trust in an otherwise noble campaign.

‘To this end, the Lagos State government must immediately withdraw Mandy Kiss’s appointment as LASKADA Ambassador, and the Commissioner should apologise to Lagos residents, including students, parents, and youth advocates, whose trust in the campaign has been shaken.

‘It is also important that a transparent selection process be instituted to ensure that future ambassadors are persons of integrity, credible, and capable of inspiring young people positively.

‘So, we recommend that the state government engage credible students, reformed substance-abuse survivors, youth leaders, respected professionals, and social media figures with clean reputations who can speak with authority and integrity.

‘As the voice of Nigerian students, NANS remains committed to supporting every effort aimed at curbing drug abuse. But we will never stand by and watch the struggle for youth development reduced to sensational headlines and misplaced priorities.

‘The unity and health of our youth are too important to be gambled with. We call on the Lagos State Government to correct this error immediately in the interest of the campaign’s success and the credibility of leadership.’

The high-powered Committee for the Creation of New Emirates, Chiefdoms and Districts set up by the Bauchi State Government has proposed thirteen new emirates, two chiefdoms and 113 districts.

The proposal was contained in the report of the Committee submitted to the Governor, Sen Bala Abdulkadir Mohammed, on Friday at the Executive Chambers of the Governor’s Office, Bauchi, by the Chairman of the Committee, Hamza Koshe Akuyam.

While submitting the Committee’s report to the Governor, the Chairman explained that the proposed thirteen new emirates and two chiefdoms represent the most deserving of all the over 100 memoranda received from across the state.

Hamza Koshe Akuyam recalled that the body was inaugurated on 4 July 2025 with the mandate to review requests from communities across the state, assess their historical, cultural and administrative justifications, and make recommendations to promote justice, inclusiveness and peaceful coexistence.

He disclosed that the Committee received a total of 196 memoranda, 17 for the creation of emirates, 166 for districts, and others for chiefdoms.

According to him, ‘The mandate was to review various requests submitted by communities, assess their historical, cultural, and administrative justifications, and make fair recommendations that promote justice, inclusiveness, and peaceful coexistence.’

He said, ‘At the end of the work, the Committee is hereby recommending the creation of thirteen additional emirates, two chiefdoms, and 111 districts across Bauchi State.’

Responding to the report of the Committee, the Governor, Sen Bala Abdulkadir Mohammed, commended the Committee for what he described as a ‘transparent and painstaking exercise.’

The Governor praised the methodology, models and templates used, noting that the process reflected community ownership and affinity.

He said the reform was in line with his administration’s commitment to ‘unbundle Bauchi’ for easier governance, eliminate ungoverned spaces, and give communities a sense of self-actualisation.

While acknowledging that the exercise may be painful for some monarchs, Bala Mohammed stressed that similar practices had taken place across Nigeria and even beyond Africa.

He assured traditional rulers and communities that government would implement the recommendations fairly, balancing the aspirations of new communities with the dignity of existing institutions, while expanding opportunities for leadership and representation.

The Governor assured that the report would be transmitted to the State House of Assembly directly and intact, the way it was submitted by the Committee, for legislative action in order to make it realistic.

He urged the Assembly to expedite the process devoid of ethno-religious and political sentiments but in the interest of the people of Bauchi State.