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Finance Ministry to Take Over CBN’s Finance Development Function

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By Yusuf Danjuma Yunusa

In a significant policy shift, the Federal Ministry of Finance will now assume responsibility for national development finance activities, a role previously managed by the Central Bank of Nigeria (CBN). This move aims to establish a clearer, more sustainable framework for mobilizing long-term investment into the country’s priority sectors.

The transition fills a strategic gap left nearly two years ago when the CBN halted its direct funding of development programs, which had constrained financing for critical areas like infrastructure, energy, and agriculture.

Unveiling the new strategy, the Minister of State for Finance, Doris Uzoka-Anite, announced that the ministry will issue comprehensive guidelines for a forward-looking development finance model. She positioned Domestic Development Finance Institutions (DFIs)—such as the Bank of Industry and the Nigerian Export-Import Bank—as central pillars in achieving Nigeria’s growth and investment ambitions.

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“Given the scale of Nigeria’s growth targets and the need to mobilize an estimated N246 trillion in patient capital by 2036, the government recognizes DFIs as essential partners,” Uzoka-Anite stated. “They will de-risk priority sectors, bolster investor confidence, and catalyze large-scale private capital.”

DFIs will provide long-term financing, concessional instruments, technical expertise, and risk-sharing to sectors where private investment has lagged despite strong potential. Key focus areas include infrastructure, energy transition, agribusiness, healthcare, climate-resilient industries, and digital public infrastructure.

The minister outlined a dedicated strategy to enhance the capacity and impact of domestic DFIs, among which are: enhanced capitalization, governance reforms, risk-sharing mechanisms, and treasury & policy alignment.

The ministry plans to leverage both domestic and international partnerships to accelerate capital mobilization and project delivery. Uzoka-Anite emphasized aligning all financing with climate resilience, financial inclusion, and sustainability goals in line with global standards.

“Nigeria’s reform momentum, policy clarity, and execution discipline create a credible platform for DFIs to deploy capital at scale with measurable impact,” she added.

This reassignment of responsibility follows the CBN’s strategic withdrawal from direct intervention financing. Shortly after his appointment, Governor Olayemi Cardoso announced the bank would cease funding development programs, refocusing on its core monetary mandates. In December 2023, the CBN formally suspended new loans under all existing intervention schemes while continuing to recover previously disbursed funds.

The Federal Government has affirmed its commitment to maintaining policy consistency and institutional coordination to ensure the success of this new DFI-led approach.

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JAMB Arrests Two, Parent over Result Falsification

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By Yusuf Danjuma Yunusa

The Joint Admissions and Matriculation Board has announced the arrest of two candidates and a parent for falsifying 2026 Unified Tertiary Matriculation Examination results using Artificial Intelligence and other electronic tools.

The disclosure came as the board released scores for 632,788 candidates who sat the examination on Thursday, April 16.

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JAMB spokesperson, Fabian Benjamin, in a statement, said the suspects were apprehended for manipulating official SMS result notifications to fabricate or alter scores with the intent to deceive others, including parents and guardians.

“Currently, two candidates and one parent are in custody for engaging in result falsification using AI and other electronic means,” the statement read.

Benjamin warned that such conduct constituted a serious criminal offence and that the board would pursue all culpable persons to the full extent of the law.

He also cautioned candidates against tampering with result messages from JAMB’s official SMS platforms, 55019 and 66019.

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Group asks Governor Yusuf to appoint Ganduje’s daughter as Kano Deputy Governor

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A group has called on the Governor of Kano State to appoint the daughter of former Governor of Kano, Dr. Asiya Balaraba Abdullahi Umar Ganduje, as Deputy Governor.

The group, known as Haɗin Kan Jam’iyyar APC ‘Yan Dangole from Kano State, expressed its support for Dr. Asiya Ganduje to become the Deputy Governor of Kano State.

According to the group, Dr. Asiya Ganduje is a woman committed to serving the people, especially the youth, through various programs that have improved their lives.

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They stated that she has demonstrated competence and dedication in politics, contributing to opportunities for youth and women in areas such as education, skills acquisition, and self-reliance.

The group also emphasized that Dr. Asiya Ganduje possesses compassion and vision for improving the lives of citizens, while encouraging women to participate in politics and economic activities.

Furthermore, they praised her cooperative character and loyalty to party principles, saying this has made her a role model for women and youth.

In conclusion, the group declared that her appointment as Deputy Governor would help bring progress, unity, and prosperity to the people of Kano State.

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UTME 2026: JAMB to Release Day 1 Exam Results Today Before Midnight

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By Yusuf Danjuma Yunusa

The Joint Admissions and Matriculation Board (JAMB) has announced that the results of all candidates who sat for the 2026 Unified Tertiary Matriculation Examination (UTME) on Thursday, April 16, 2026, will be released on Friday, April 17.

Spokesperson of the board, Fabian Benjamin, announced this in a post on X, noting that an announcement would be made when the results are available.

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“This is to inform all candidates who sat for the 2026 UTME on Thursday, 16th April 2026, that their results will be released today before midnight. An official announcement will be made to the public and posted on this page as soon as the results are available. Thank you,” he wrote.

Scheduled to run through April 22, the examination is structured into four daily sessions beginning at 7:30 a.m. and ending at 6:00 p.m., a framework designed to manage the large volume of candidates and reduce congestion at Computer-Based Test (CBT) centres.

This year, nearly 2.2 million candidates are participating across 966 accredited centres, each expected to meet operational benchmarks such as functional computer systems, stable internet connectivity and electricity as well as adequately trained personnel.

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