NAFDAC re-enforces sachet alcohol ban
The National Agency for Food and Drug Administration and Control (NAFDAC) has resumed strict enforcement of its ban on alcoholic drinks packaged in sachets and small plastic or glass bottles below 200 millilitres, dismissing claims that it shut down any manufacturing companies. The agency clarified that the action targets only the production and sale of alcohol in small containers, not...
Meter rollout triggers tariff row between FG, DisCos
A fresh dispute has erupted between the Federal Government and electricity distribution companies (DisCos) over who will bear the cost of prepaid meters being installed nationwide under a World Bank–funded programme. The Bureau of Public Enterprises (BPE) has clarified that although the meters are being installed for consumers without upfront payment, their costs will ultimately be recovered through electricity tariffs. The...
FG’s N9trn borrowing surge squeezes credit to businesses – CBN
The Federal Government’s domestic borrowing jumped sharply in 2025, crowding out businesses and widening the gap between public and private sector access to credit, according to Central Bank of Nigeria (CBN) data. Money and credit statistics show that government borrowing from the financial system rose by N9.19tn during the year, while net credit to the private sector fell by N1.54tn,...
Police arrest officer for shooting motorcyclist dead in Ebonyi
The Ebonyi State Police Command has arrested a police officer for allegedly shooting a motorcyclist, identified as Nwanchor Uwaezuruike, dead in the state. The command’s spokesman, SP Joshua Ukandu, disclosed this via a statement issued on Thursday, January 29, 2026. Ukandu quoted the Ebonyi State Commissioner of Police, Adaku Uche-Anya, as saying that the command had commenced a comprehensive investigation into...
Stock market reverses losses as investors gain N233bn
The Nigerian stock market rebounded on Thursday, January 29, 2026, as investors recorded gains of N233 billion following renewed buying interest in equities. Market sentiment improved on the back of demand for stocks such as RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities. The market capitalisation rose by 0.22 per cent to N105.969...
UNILAG, University of Birmingham sign MoU to run degree programme in Nigeria
The University of Lagos (UNILAG) and the University of Birmingham in the United Kingdom have signed a Memorandum of Understanding (MoU) to run a degree programme in Nigeria. The Minister of Education, Dr Tunji Alausa, announced the development in a statement on Thursday, January 29, 2026, describing the agreement as a major step forward for Nigeria’s tertiary education sector. Alausa noted...
Lagos pledges support for NCC to drive economic growth
Lagos State Governor, Mr Babajide Sanwo-Olu, has reaffirmed his administration’s commitment to supporting the Nigerian Communications Commission (NCC) as part of efforts to drive economic growth through technology and communications. The governor gave the assurance on Thursday while receiving members of the Governing Board of the NCC, led by its Chairman, Chief Idris Olorunnimbe, during a courtesy visit to Lagos...
₦80.2bn Kogi fraud: ₦3.1bn LG funds paid into E-traders account in eight months — Witness
The trial of former Kogi State Governor, Yahaya Adoza Bello, over alleged ₦80.2 billion fraud continued on Thursday before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, with fresh revelations on the movement of local government funds. A compliance officer with Access Bank, Olomotane Egoro, who testified as Prosecution Witness Seven (PW7), told the court that about ₦3.1...
Emefiele trial: Witness tells court how $6.23m was withdrawn from CBN using forged documents
An Assistant Director of the Central Bank of Nigeria (CBN), Bashirudden Muhammed Maishanu, on Thursday told the Federal Capital Territory High Court, Abuja, how $6.23 million was allegedly withdrawn from the apex bank through forged documents during the tenure of former CBN Governor, Godwin Emefiele. Maishanu, the 11th prosecution witness in the ongoing trial, testified before Justice Hamza Muazu that...
FG approves ₦1trn metropolitan rail project for Kano
The Federal Government has approved a ₦1 trillion Metropolitan Rail Service for Kano State to enhance urban transportation, stimulate economic activities and reduce traffic congestion in the state capital. Kano State Governor, Abba Yusuf, disclosed the approval while addressing members of the state contingent that participated in the 2025 National Qur’anic Recitation Competition held in Borno State. The development was confirmed...
