CBN/Commercial Banking - Abia ThinkTank News

Aug

2025

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

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

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

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

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

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

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

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…

Mar

2025

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By Abia ThinkTank

World Bank Approves Fresh $500 Million Loan To Nigeria For Economic Stimulus Program

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

World Bank Approves Fresh $500 Million Loan To Nigeria For Economic Stimulus Program The World Bank has approved a $500 million loan to Nigeria to support the country’s Community Action for Resilience and Economic Stimulus Program. According to information obtained from the bank’s website on Sunday, the approval, which took place on March 28, 2025, marks a significant step in addressing Nigeria’s economic challenges through expanded access to livelihood support, food security services, and grants for poor and vulnerable households and firms. The project, officially titled the NIGERIA: Community Action (for) Resilience and Economic Stimulus Program, aims to provide essential…

Mar

2025

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By Abia ThinkTank

A Critical Examination Of First Bank Of Nigeria’s Rebuttal In The Agbai Eke Allegations: Trust, Protocol, And Institutional Accountability – By Dr. Chukwuemeka Ifegwu Eke

Business, CBN/Commercial Banking, Columns/Opinions/Letters, Economy

A Critical Examination of First Bank of Nigeria’s Rebuttal in the Agbai Eke Allegations: Trust, Protocol, and Institutional Accountability The edifice of banking, an institution predicated on the inviolable sanctity of trust, stands imperiled when its custodians appear cavalier in their stewardship. The recent imbroglio involving First Bank of Nigeria and Dr. Agbai Eke, who alleges a staggering N550 million fraud, has ignited public consternation, casting a pall over the institution’s venerable legacy. The bank’s terse dismissal of these claims as “baseless” and “unfounded” demands rigorous scrutiny, not merely for its legal implications but for the profound existential questions it…