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New naira notes: Governors set up committee to work with CBN

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Nigerian Governors

The Nigeria Governors’ Forum (NGF) has set up a six- member committee to engage the Central Bank of Nigeria (CBN) to address anomalies in the country’s monetary management and financial system.

The forum disclosed this in a communique issued on Saturday at the end of its virtual meeting held with the CBN Governor, Mr Godwin Emefiele, on Thursday night.

The committee, according to the communique signed by NGF Chairman, Gov. Aminu Tambuwal of Sokoto State, is chaired by Governor of Anambra State, Prof. Charles Soludo, with governors of Akwa Ibom, Ogun, Borno, Plateau and Jigawa states as members.

The governors said that while they were not opposed to the objectives of the Naira redesign policy, the apex bank should consider the peculiarities of households and states, especially pertaining to financial inclusion and under-served locations.

“We, the members of the NGF, received a briefing from the Governor of the CBN, Emefiele, on the Naira redesign, its economic and security implications including the new withdrawal policy.

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“Governors are not opposed to the objectives of the Naira redesign policy.

“However, we observe that there are huge challenges that remain problematic to the Nigerian populace.

“In the circumstances, governors expressed the need for the CBN to consider the peculiarities of states especially as they pertained to financial inclusion and under-served locations.”

The governors expressed resolve to work closely with the CBN leadership to ameliorate areas that required policy variation, particularly the poorest households, the vulnerable in society and several other Nigerians that were excluded.

The governors also resolved to collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) in advancing genuine objectives within the confines of the laws.

They, however, insisted that the recent NFIU Advisory and Guidelines on cash transactions were simply outside the NFIU’s legal remit and mandate. (NAN)

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FG Amends Charges Against Malami, Withdraws Terrorism Financing Allegation

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By Yusuf Danjuma Yunusa

The federal government has amended charges filed against Abubakar Malami, former attorney-general of the federation (AGF), and his son Abdulaziz, removing the allegation bordering on terrorism financing.

At the court session on Wednesday, Akinlolu Kehinde, counsel to the Department of State Services (DSS), informed the court about the amendment and applied to substitute the former charge.

The amended charge borders on illegal possession of firearms.

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Shaibu Aruwa, counsel to the defendants, confirmed that his clients were served with the amended charge and agreed that the fresh charge be read to the defendants.

Consequently, the amended charge was read to the defendants, to which they pleaded not guilty.

Joyce Abdulmalik, presiding judge, allowed the defendants to continue on the bail terms and conditions granted to them on February 27.

The case has been adjourned to May 26 and June 15 for trial.

In the amended charge, the prosecution alleges that arms and live cartridges were found in Malami’s residence in Birnin Kebbi.

Malami and Abdulaziz were first arraigned by the DSS on February 3 on a five-count charge bordering on alleged terrorism financing and illegal possession of firearms.

The DSS accused Malami of refusing to prosecute terrorism financiers whose case files were reportedly forwarded to the office of the attorney-general for prosecution.

On February 27, the ex-AGF and his son were each granted bail of N200 million with two sureties in like sum.

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Nigeria’s Inflation Rate Climbs to 15.38% in March

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By Yusuf Danjuma Yunusa

The National Bureau of Statistics (NBS) has reported a rise in Nigeria’s headline inflation rate, which increased to 15.38% in March 2026, up from 15.06% recorded in February.

According to the NBS’s latest Consumer Price Index (CPI) report released on Wednesday, the 0.32 percentage point increase marks the second consecutive monthly rise in inflation this year. The March figure also represents a significant jump compared to the same period last year, underscoring persistent price pressures across key sectors.

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Analysts point to rising food and energy costs, coupled with lingering supply chain disruptions, as primary drivers of the uptick. The NBS noted that food inflation remained elevated due to higher prices of staple items such as bread, cereals, and vegetables, while core inflation excluding volatile agricultural produce and energy also edged upward.

The development puts additional pressure on households and businesses, and may influence the Central Bank of Nigeria’s monetary policy stance in the coming months.

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Atiku Confirms 2027 Will Be His Final Presidential Bid

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By Yusuf Danjuma Yunusa

Former Vice-President Atiku Abubakar has declared that the 2027 general election will be his last attempt to become Nigeria’s president.

The seasoned politician, who will turn 80 by the next election cycle, made the announcement during an interview on Arise News on Wednesday.

“Certainly yes, because the stakes are higher – I believe that will be my last outing. So that’s incontrovertible,” Atiku said when asked whether 2027 would mark his final run.

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Pressed on why Nigerians should still trust him after decades in politics, the presidential hopeful argued that his experience uniquely qualifies him to lead the country at a critical juncture.

“I represent both the past and the future simply because we have seen various levels of leadership in the country, both young and old, and we’re experiencing them,” he said.

Atiku also voiced concerns about the performance of younger leaders, suggesting they have not fully met expectations.

“I still believe that our expectations of the young leadership are below what we thought,” he added, stressing the need for mentorship and guidance from older, more experienced politicians.

According to Atiku, such guidance is most effective when exercised from a position of power. Reflecting on his time as vice-president, he noted: “Sometimes you need to be [in power]. What I was able to learn from President Olusegun Obasanjo through his experience, I couldn’t have learned it outside.”

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