CBN/Commercial Banking - Abia ThinkTank News

Aug

14

2025

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By Abia ThinkTank

President Tinubu Approves $125 Million Islamic Development Bank Facility For ABIA State Integrated Infrastructure Development Project (ABSIID)

Abia State, CBN/Commercial Banking, Economy, FGN, News Flash

Press Release: PRESIDENT TINUBU APPROVES $125 MILLION ISLAMIC DEVELOPMENT BANK FACILITY FOR ABIA STATE INTEGRATED INFRASTRUCTURE DEVELOPMENT PROJECT (ABSIID) The Abia State Government is pleased to announce that the long-awaited USD 125 Million Islamic Development Bank (IsDB) financing facility for the Abia State Integrated Infrastructure Development Project has been approved by the Federal Executive Council (FEC) at its meeting of Wednesday, August 13, 2025. This approval marks a major milestone in a project that has undergone extensive consultations and procedural steps, and is a critical component of the overall co-financing arrangement for the State’s ambitious infrastructure development drive. The project’s…

Aug

13

2025

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By Abia ThinkTank

Tinubu Administration Takes Credit As Stock Market Boom, Grows In Tripple

CBN/Commercial Banking, Economy, FGN, News Flash, Presidency

Tinubu Administration Takes Credit As Stock Market Boom, Grows Triple The federal government says the Nigerian stock market is experiencing an unprecedented boom, with key indicators showing remarkable growth since President Bola Ahmed Tinubu assumed office on May 29, 2023. The Nigerian Exchange (NGX) has seen its All-Share Index (ASI) and market capitalisation more than triple, reflecting investor confidence and the impact of sweeping economic reforms. According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, at the time of President Tinubu’s inauguration, the NGX All-Share Index stood at 52,973.88 points, with a market capitalisation of N28.845…

Aug

04

2025

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By Abia ThinkTank

Fake N1000 Notes Circulating; How You Can Identify Them – NOA

CBN/Commercial Banking, Economy, News Flash

Fake N1000 Notes Circulating, How You Can Identify Them – NOA The National Orientation Agency (NOA) in Kwara has cautioned the public on fake N1000 notes circulating in the state. The State Director of NOA, Alhaji Abdulganiyu Dare, disclosed this in a statement issued in Ilorin. Dare emphasised the need for vigilance among residents and business owners in the state. According to him, there is confirmed intelligence reports of syndicates flooding the area with counterfeit currency with batch numbers 364232 and 898248. Dare said the counterfeit notes can be identified by their blurred portraits, watermarks, and irregular security features. He…

Jul

23

2025

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By Abia ThinkTank

Senate Approves Tinubu’s $21 Billion Loan Plan

CBN/Commercial Banking, Economy, FGN, National Assembly, News Flash

Senate Approves Tinubu’s $21 Billion Loan Plan The Senate has approved President Bola Tinubu’s request for a comprehensive external borrowing plan totaling over $21 billion for the 2025–2026 fiscal years. According to the Senate, the funds are earmarked to support key national development projects across sectors such as infrastructure, security, agriculture and human capital development. During plenary on Tuesday in Abuja, Chairman of the Senate Committee on Local and Foreign Debt, Senator Aliyu Wamako, presented the long-awaited report, which was first introduced on May 27, 2025. He explained that the delay in adoption was due to parliamentary recesses and challenges…

Jun

16

2025

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By Abia ThinkTank

Court Grants Emefiele N2 Billion Bail Over Abuja’s Duplexes

Crime, CBN/Commercial Banking, Economy, FGN, Judiciary

Court Grants Emefiele N2 Billion Bail Over Abuja’s Duplexes A Federal High Court in Abuja has granted former Central Bank Governor Godwin Emefiele bail set at ₦2 billion, with stringent surety conditions, in the ongoing prosecution over alleged financial crimes and illicit property acquisition. Justice Halilu Yusuf, presiding over the eight‑count charge, noted that Mr. Emefiele “had previously been granted bail in three other criminal cases that remain pending” and that “there is no evidence before this court that the defendant has ever jumped bail.” He therefore ruled that Emefiele could be released if he produced two sureties each owning property…

Jun

03

2025

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By Abia ThinkTank

Osun State Drags FGN To Supreme Court Over Withheld LGA Allocations

CBN/Commercial Banking, Economy, FGN, News Flash, Politics

Osun State Drags FG To Supreme Court Over Withheld LG Allocations The lingering political crisis surrounding withheld Local Government allocations in Osun State has taken a new dimension as the State Government dragged the Nigerian Federal Government and the Attorney General of the Federation, Lateef Fagbemi, SAN to the country’s Supreme Court. The case centers on the alleged non-release of allocation from the Federation Account due to the 30 Local Government Areas and one area office of Osun State for the past 3 months. Since January 2025 the Federal Government and Osun State government have been at logger heads over…

May

08

2025

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By Abia ThinkTank

Nigeria Clears All N2.59 Trillion IMF Debt, Signal New Economic Reform

CBN/Commercial Banking, Economy, FGN, News Flash

Nigeria Clears All N2.59 Trillion IMF Debt, Signal New Economic Reform Nigeria government under President Bola Tinubu has fully repaid its $1.61bn (N2.59trn as of May 6, 2025) debt obligation to the International Monetary Fund (IMF). A check through the IMF’s website by our correspondent revealed that Nigeria has been removed among list of countries owning the international financial agency. Check here A data obtained popular data company, StatiSense showed that Nigeria paid off the debt in gradual from $1.61 billion in July 28, 2023 to $1.37 billion in January 5, 2024 to $933.03 million in July 10, 2024 to…

May

05

2025

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By Abia ThinkTank

EFCC Confirms Arrest Of VeryDarkMan, Reveals Why He Was Arrested

Crime, CBN/Commercial Banking, News Flash

EFCC Confirms Arrest Of VeryDarkMan, Reveals Why He Was Arrested Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has confirmed the arrest of social media activist, Martins Vincent Otse, popularly known as VeryDarkMan (VDM), over multiple petitions. The EFCC, speaking through its spokesperson Dele Oyewale, told BBC News Pidgin on Monday that the activist was taken into custody following complaints from several petitioners. “We arrested him to respond to a series of allegations raised against him by some petitioners,” Oyewale said. When asked if the case was connected to Guaranty Trust Bank (GTB), Oyewale noted that the petitions…

Apr

13

2025

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By Abia ThinkTank

World Bank Commits $16bn Portfolio To Nigeria

CBN/Commercial Banking, Economy, FGN, News Flash

World Bank commits $16bn portfolio to Nigeria The World Bank said it has committed over $16 billion to Nigeria across 28 active projects. This financial commitment has been mostly through concessional financing from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). In a statement on Saturday, the Bank said these investments are targeted at helping Nigeria tackle its most pressing development priorities. These include expanding access to essential services such as electricity, education, and healthcare, advancing gender inclusion and economic opportunities for women, and improving food security through enhanced agricultural productivity. As part of…

Apr

08

2025

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By Abia ThinkTank

Diamond Bank Founder, Pascal Dozie Is Dead

News Flash, CBN/Commercial Banking, Obituary

Diamond Bank Founder, Pascal Dozie Is Dead The founder of the defunct Diamond Bank Plc and a former chairman of MTN Nigeria, Pascal Dozie, is dead. According to a statement issued by the family on Tuesday, the business tycoon died on Monday at the age of 85. Born on 9 April 1939, Dozie was raised in a Catholic home, with his father, Charles Dozie, serving as a catechist. He had his early education at Our Lady’s School Emekuku, Holy Ghost Juniorate Seminary, and Holy Ghost College, Owerri, where he obtained his West African Senior School Certificate Examination. Seeking higher education…