Month: October 2025

By Abdulrasheed Musa Kofa,

For years, Nigeria has leaned on its diaspora as a hidden anchor of survival. Beyond emotional ties and cultural nostalgia, Nigerians abroad have sent home billions of dollars, cushioning households and helping many weather difficult times. 

Yet the story of remittances has largely been one of consumption, not sustainable growth. Much of the money vanished into daily survival, often through informal routes, while the vast potential of structured diaspora capital for national development remained untapped.

The Central Bank of Nigeria (CBN) now seems determined to rewrite that story. In recent months, it has introduced policies aimed not only at boosting inflows but at transforming remittances into a formal, investment-driven engine of stability. 

With tools such as the Non-Resident Nigerian Ordinary and Investment Accounts (NRNOA/NRNIA), the Non-Resident Bank Verification Number (NRBVN), and tighter International Money Transfer Operator (IMTO) guidelines, the apex bank is signaling a bold shift—from remittances as household lifelines to remittances as capital for growth. 

Its ambition of attracting $1 billion in monthly diaspora remittances is more than a target; it is an audacious declaration that Nigeria seeks to become a global hub for diaspora investment.

At the heart of this strategy are the NRNOA and NRNIA. The former provides a regulated, convenient channel for everyday remittances in naira and foreign currencies, cutting out the costly informal networks that once dominated. 

The latter, the NRNIA, goes even further by creating structured pathways for diaspora investments in mortgages, pensions, insurance, and Nigeria’s financial markets. By guaranteeing full repatriation of proceeds under existing rules, the CBN is deliberately courting trust. 

And in a global financial system where trust is the ultimate currency, such assurances matter greatly. The challenge of access has also been tackled. For years, the requirement of physical presence made securing a BVN impossible for many Nigerians abroad. 

The new digital Non-Resident BVN finally removes that barrier, even though it comes at a cost of about $50. While some may balk at the fee, the opportunity far outweighs the price of exclusion. For a diaspora community long fenced out, this is a long-awaited doorway in.

The IMTO reforms reflect similar pragmatism. By restricting services to inbound transfers and ensuring payouts in naira, the CBN is protecting liquidity while keeping inflows within the formal economy. 

Allowing operators to quote exchange rates on a willing seller–willing buyer basis introduces transparency and competitiveness, drawing more Nigerians away from shadowy parallel markets. The exclusion of fintechs from IMTO licensing has sparked debate, but the regulator may be betting on stability over experimentation in a sector that demands strict oversight.

Early signs suggest the measures are bearing fruit. Official reports showed a $553 million inflow in July 2024—the highest on record—representing a 130 percent year-on-year surge. Confidence is shifting gradually towards formal systems. 

Sustained, such inflows could strengthen Nigeria’s fragile foreign exchange reserves, deepen liquidity in capital markets, and lower the high cost of remittances that continues to exceed the global average. Yet the most profound shift is not numerical but philosophical. 

These reforms are about more than chasing dollars; they are about redefining the relationship between Nigeria and its diaspora. Rather than treating remittances as acts of charity or family duty, the CBN is positioning them as instruments of nation-building. 

Nigerians abroad are being asked to see themselves not merely as senders of money, but as strategic investors in the country’s future. The stakes could not be higher. With more than 15 million citizens abroad, Nigeria sits at the heart of Sub-Saharan Africa’s remittance economy. 

In some years, diaspora inflows have even surpassed oil revenues. If only a fraction of this wealth is converted into productive, long-term capital, Nigeria’s financial landscape could be reshaped. But success will depend on more than policy design. 

It will require political stability, investor protection, and unwavering consistency in government signals. The diaspora will not risk hard-earned savings in a system that shifts with every gust of political wind.

CBN’s reforms are bold and timely. But their success now rests on trust and execution. If they work, the narrative of remittances will shift—from consumption to capital, from emergency relief to structural development. 

The target of $1 billion monthly may well be achieved, but more importantly, it represents a shared vision where remittances become investments in Nigeria’s prosperity. The choice before the diaspora is stark: to keep sending money informally and watch it disappear into short-term survival, or to embrace formal channels and help lay the foundations of a stronger, more resilient Nigeria. 

The government has laid down the rails. It is now for Nigerians abroad to decide whether their remittances will remain fleeting lifelines or become the enduring engine of a nation’s growth.

Abdulrasheed Musa Kofa is a PRNigeria Fellow. He can be reached via: musaabdulrasheed83@gmail.com.

By Uzair Adam

The Nigerian Army has achieved a significant breakthrough with the arrest of a notorious terrorist and violent extremist leader, Idris Idris, popularly known as Babawo Badoo.

The operation, which also led to the capture of 37 other criminal suspects, was part of a series of coordinated raids across different parts of the country.

According to a source at the Army Headquarters, the operations also resulted in the rescue of 15 kidnapped victims.

The source added that two terrorists were neutralised during the encounters, while troops recovered assorted weapons, ammunition, and logistics materials from multiple theatres of operation.

Babawo Badoo, believed to be behind several deadly attacks and abductions in the North-Central region, was arrested on October 20 by troops of Operation Enduring Peace at Lugere Village, Barkin Ladi Local Government Area of Plateau State.

He was apprehended following credible intelligence that led to the recovery of an AK-47 rifle, a magazine loaded with 10 rounds of 7.62mm special ammunition, a mobile phone, and N12,000 cash.

In another operation, troops of Sector 1, Operation Enduring Peace, working with the Nigeria Police and the Civilian Joint Task Force, raided a criminal hideout at Saya Village in Bassa Local Government Area, arresting 19 suspects who are now under investigation.

Meanwhile, troops of the 3 Division of the Nigerian Army and the Joint Task Force, Operation Enduring Peace, have killed two suspected kidnappers and rescued two abducted victims in Kanam Local Government Area of Plateau State.

The operation, carried out on Wednesday, covered Kukawa, Shuwaka, Ganjuwa, and Tunga villages after the abduction of two individuals, Muhammadu Sani and Ibrahim Manman, along the Wanka–Dengi road.

Acting on intelligence, troops cordoned off the area and engaged the suspects on the outskirts of Tunga village.

According to a statement by Major Samson Zhakom, Media Information Officer of the JTF Operation Enduring Peace, the criminals opened fire on the troops, who responded with superior firepower, killing two of the suspects while others fled with gunshot wounds.

A search of the hideout led to the recovery of one pump-action gun, a locally fabricated rifle, eight cartridges, and other items used for their operations.

The rescued victims have since been reunited with their families after undergoing standard security checks.

Major Zhakom reaffirmed the Joint Task Force’s commitment to intensifying operations to dismantle criminal networks and safeguard lives and property across the region.

By Kamal Alkasim

As I embark on writing about the history of our community, I am compelled to share the remarkable story of Sheikh Lawan Makama. His life’s work has had a profound impact on thousands of students, including myself, through his tireless dedication to teaching the Qur’an and founding a prestigious Islamic college.

We affectionately called him ‘Baban Makaranta’ (Father of the School) because of his unwavering presence and guidance. He would often be seen at the school, writing on the Allo (wooden slate) for students, mentoring teachers, and caring for us like a father.

When I spoke to one of my teachers and his son, Shehu Lawan Makama, about his father’s legacy, he shared a profound insight: ‘In our family tradition, every child is expected to teach in school before pursuing any business venture.’ This legacy lives on through the Ma’ahad Sheikh Lawan Makama, a renowned college for Qur’anic studies in our community, Kofar-Ruwa.

The college offers a comprehensive curriculum, with morning and afternoon sessions focused on Qur’anic studies, followed by evening classes on Hadith and Islamic theology. The quality of education in our community is a testament to the excellence of his school. Sheikh Lawan Makama’s impact extends beyond the classroom, as his commitment to community service has left an indelible mark on our society.

Sheikh Lawan Makama’s contributions to community services were multifaceted. His children would often lead Islamic events, including Ramadan prayers in various mosques. As students, we would attend school during the day and participate in community services in the evenings.

Growing up in a family that values the Qur’an, I had the privilege of attending many of these events. Sheikh Lawan Makama instilled in us strong moral values and good habits, emphasizing the importance of integrity and character. His reputation was such that if someone from his school misbehaved, the community would say, “This isn’t the habit of Sheikh Lawan Makama’s students.” His legacy is built on the principles of good character, and those who know him can attest to this.

Sheikh Lawan Makama’s family reflects his commitment to the Qur’an. All 16 of his children are Qur’an reciters, and thousands of students have memorized the Qur’an through his school. The students who lived in his house were treated like family members, receiving food, clothing, and care. One of my classmates shared that they felt no difference between themselves and Sheikh Lawan Makama’s biological children.

As someone who values documenting history, I aim to preserve Sheikh Lawan Makama’s legacy accurately, ensuring that future generations can learn from his remarkable life and contributions. May God bless him with knowledge, wisdom, and eternal peace.

Kamal Alkasim wrote from Kano, via kamalalkasim17@gmail.com.

By Anas Abbas

The House of Representatives Committee on Banking Regulations has held a public hearing on two significant financial reform bills that are meant to strengthen Nigeria’s banking sector and improve access to finance for small and medium enterprises (SMEs).

The bills are the Factoring Regulation Bill (HB. 516) which seeks to enable small businesses to access quick and reliable cash by selling their unpaid invoices and the Banks and Other Financial Institutions Act (BOFIA) Amendment Bill (HB. 1168), sponsored by Hon. Moses Oluwatoyin Fayinka, representing Mushin II Federal Constituency of Lagos State.

The latter aims to protect bank customers from fraudulent withdrawals and enforce greater accountability within the banking system.

The public hearing, described as “very productive” by the Chairman of the Committee and Member representing Kaduna North Federal Constituency, Hon. Mohammed Bello El-Rufai, drew wide participation from key financial and business institutions including the Central Bank of Nigeria (CBN), NEXIM Bank, Afreximbank, NACCIMA, NASSI, and several development partners and private sector stakeholders.

Hon. El-Rufai also acknowledged the presence of Mr. Fabian Okoye, Special Adviser on Research, Documentation, and Communication to Governor Uba Sani of Kaduna State, who represented the Governor at the event.

Reflecting on his earlier legislative experience, El-Rufai recalled observing the Factoring Bill during his tenure as Senior Legislative Aide and Chief of Staff to Governor Uba Sani, when the latter chaired the Senate Committee on Banking and Other Financial Institutions in the 9th Senate.

According to him, despite the Central Bank’s progress in managing what he called its “policy trilemma” the exchange rate, inflation, and interest rate Nigeria’s economic realities underscore the urgency of passing the bills.

He noted that inflation as of September 2025 stands at 18.02%, interest rate (MPR) at 27%, unemployment at 4.3%, and poverty at 46% affecting over 139 million people.

A bag of rice now costs ₦70,000. These figures, he said, show why reforms like the Factoring Bill cannot wait.Bello explained that factoring would provide a much-needed financial lifeline for everyday Nigerians.

For traders, artisans, and shop owners, factoring means faster access to cash to restock and stay in business. For small manufacturers and exporters, it improves cash flow to expand production and create jobs.

He emphasized that the BOFIA Amendment Bill complements these efforts by ensuring stronger consumer protection and holding banks accountable for fraud and misconduct.

Across Africa, factoring has been recognized as a powerful tool to unlock working capital and sustain small businesses.

Experts estimate that if properly implemented in Nigeria, it could release over ₦2.7 trillion into the economy, directly boosting communities and livelihoods.

Reaffirming the committee’s commitment to financial reforms that protect consumers and empower SMEs, El-Rufai expressed gratitude to all participants and lauded the support of the Speaker of the House, Rt. Hon. Abbas Tajudeen, GCON, for his leadership.

He concluded that the House Committee on Banking Regulations remains steadfast in its mission to drive reforms that protect consumers, empower SMEs, and grow the economy for everyone.

By Uzair Adam

Senator Rabi’u Musa Kwankwaso, the New Nigeria People’s Party (NNPP) presidential candidate in the 2023 elections, has stated that his party is open to forming alliances with other political parties, including the All Progressives Congress (APC), ahead of the 2027 general elections.

In an interview with BBC Hausa, the former Kano State governor emphasised that the NNPP is willing to collaborate with any party that shares its commitment to improving the welfare of ordinary Nigerians.

Kwankwaso clarified that any potential alliance with the APC or other parties must come with clear, tangible benefits for the NNPP, highlighting the party’s nationwide structures and gubernatorial candidates in all states.

He said, “If you are asking us to join APC, you must tell us what NNPP will gain. We have gubernatorial candidates in all the states and full structures nationwide. What will you offer them if we join?”

The senator reiterated that alliances will be based on shared ideals that guarantee a better quality of life for Nigerians.

He described the 2027 elections as likely to be fiercely contested, noting that citizens are now more informed, concerned, and engaged than ever before.

“We’re ready for anyone, whether it is the APC, PDP, ADC, Jonathan, or Peter Obi. If we are satisfied with their competence, we will join forces to achieve success.

“The key thing is that whoever we ally with must be committed to the needs of Nigerians,” Kwankwaso said.

He also condemned the state of insecurity in parts of the country, including Sokoto, Kebbi, Zamfara, and Kaduna, noting that ordinary citizens are the main victims while political elites live in luxury in Abuja.

On the recent proposal by the National Assembly to amend the 2022 Electoral Act, which would schedule presidential and governorship elections six months before the expiration of incumbents’ tenures, Kwankwaso said he is ready for elections to be held at any time, provided there is adequate notice for mobilisation.

Addressing claims of undue influence over the Kano State government, Kwankwaso dismissed the allegations as baseless, insisting that the current administration is acting independently and that time will reveal who is truly in charge.

“Our position is simple: if he seeks our counsel, we will gladly offer it. But if we notice anything wrong or harmful, we will call his attention to it. “That is why people claim they will defeat us, but the truth is, the youths are more aware now,” he clarified.

By Abdullahi Mukhtar Algasgaini

The National Universities Commission (NUC) has announced the approval of thirteen new degree programmes for universities across Nigeria.

The move is part of an ongoing effort to modernize the country’s higher education curriculum and align it with global trends.

In an official memo signed by the Executive Secretary, Prof. Abdullahi Yusufu Ribadu, the Commission directed all Vice-Chancellors to circulate the newly approved Core Curriculum and Minimum Academic Standards (CCMAS) documents.

The new programmes reflect a focus on emerging technologies, security, and specialized fields.

The list includes cutting-edge courses such as B.Sc. Artificial Intelligence, B.Sc. Intelligence and Security Studies, and B.Eng. Nuclear Engineering. Also approved were programmes in Geomatics Engineering, Telecommunications Science, and Water Sanitation and Hygiene.

According to the NUC, the programmes were developed with input from experts within the Nigerian University System in March 2025.

The approval is intended to “strengthen quality assurance mechanisms and enhance academic relevance.”

Universities interested in offering these new degrees must develop their own 30% institutional component to complement the NUC’s 70% core curriculum.

The NUC stated that implementation can begin in the 2025-2028 academic session, pending a successful Resource Assessment Visit to the applying institutions.

By Abdullahi Mukhtar Algasgaini

Nigerian forces operating under Operation HADIN KAI (OPHK) have thwarted a series of coordinated terrorist attacks across Borno and Yobe states, neutralizing over 50 fighters in fierce overnight battles.

According to a press release from the military, the assaults occurred between midnight and 4:00 a.m. on Thursday, targeting troops’ positions in Dikwa, Mafa, Gajibo, and Katarko.

The military stated that its troops “stood firm, fought gallantly, and professionally repelled the attacks, dealing the terrorists a heavy decisive and bloody blow.”

The defence was bolstered by air support from the Air Component, which provided precision strikes. Enhanced intelligence and reconnaissance assets also gave ground forces a critical advantage, enabling a lethal response.

The combined ground and air efforts led to the recovery of a significant cache of weapons, including 38 AK-47 rifles, 7 machine guns, 5 RPG tubes, and thousands of rounds of ammunition.

Intelligence reports suggest the terrorists who attacked Dikwa and Gajibo came from neighbouring Cameroon, while those in Katarko emerged from the notorious Timbuktu Triangle enclave.

While the military scored a major victory, it acknowledged some costs. Several soldiers were wounded but are reported to be in stable condition.

Additionally, terrorist attacks involving armed drones and RPGs set vehicles and buildings on fire, with defences in Mafa and Dikwa being “momentarily breached.”

The Military High Command has commended the troops for their gallantry and doggedness, stating that their performance reaffirms the military’s unwavering resolve to defend the nation’s territorial integrity.

By Uzair Adam

Former presidential candidate and activist, Omoyele Sowore, was on Thursday taken into custody by armed police officers shortly after attending a court session for the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, at the Federal High Court in Abuja.

Sowore, a prominent campaigner for Kanu’s release, was reportedly accosted by the officers who insisted that he accompany them to the Federal Capital Territory (FCT) Police Command.

When he asked for the reason behind his arrest, one of the officers replied that they were acting on the instruction of the Commissioner of Police.

“The commissioner of police said we should bring you to the office,” the officer stated.

Despite questioning the lack of a formal invitation and insisting that his lawyer must be present, Sowore was eventually driven away in a police van.

It would be recalled that the Sahara Reporters publisher played a major role in organising the recent #FreeNnamdiKanu protest that took place in Abuja and other cities on Monday.

During the protest, police arrested 12 participants, including Kanu’s younger brother, Emmanuel, and one of his lawyers, Aloy Ejimakor. The detainees were later remanded at Kuje Prison.

According to the First Information Report (FIR) filed before a Chief Magistrate Court in Kuje, the police accused the protesters of criminal conspiracy, inciting disturbance, and public disorder.

The report alleged that the protest, which violated a subsisting court order, obstructed traffic and posed a threat to public peace.

The court is expected to take the plea of the 12 defendants on Friday.

However, it remains unclear whether Sowore will be added to the charge sheet.

By Nazeer Baba

For context, Mr Tanimu, in defence of the economic freefall under the current administration, claimed that the naira has bounced back to dominance as a result of Nigeria’s non-oil commodity exports. In reality, however, non-oil exports accounted for only about 9% of Nigeria’s total exports between Q1 2024 and Q4 2024, while mineral fuels, mainly crude oil, maintained their traditional dominance with 91% of export volume. In other words, nothing has fundamentally changed in Nigeria’s dependence on a major oil-exporting economy.

Yes, non-oil exports indeed rose from $2.696 billion in H1 2024 to $3.225 billion in H1 2025—a 19.62% growth. Much of this was driven by the naira devaluation, which makes our commodity cheaper in the foreign market at the expense of Nigerians. Another reason is the climate challenges that disrupted cocoa production in major producers like the Ivory Coast and Ghana, temporarily creating space for Nigerian cocoa. But this is both an incidental and a policy blunder.  

The more urgent question is how this growth affects the key aspects of development. Poverty, unemployment, and inequality, especially for the 133 million Nigerians living in multidimensional poverty? As the economist Amartya Sen argued, real development should be gauged by what happens to these three dimensions. Unemployment

The official unemployment rate fell to 4.3% in Q2 2024, down from 5.3% in Q1. But this decline has little to do with any job boom under President Bola Tinubu. Instead, it is the product of a statistical adjustment. In the past, the NBS only counted those aged 15–64 who worked at least 20 hours per week as employed. Under the new guidelines, anyone 15 years or older who worked for pay—even for just a single hour in a week—is now considered employed. At best, this is a manipulation of numbers.

For young people, the reality is harsher. Unemployment among 15–24-year-olds was 6.5% in 2024 under the new formula, but under the previous methodology, it had peaked at 53.4%. The World Bank confirms this paradox: low official unemployment rates coexist with widespread poverty. Millions are “employed” but still trapped in poverty. Job quality, not misleading headline numbers, is what truly matters. Today, most Nigerians endure insecure, informal, and underpaid work.

Poverty

Nigeria has long been an economy under strain, but the shock of 2024–2025 has been unprecedented. Over 54% of Nigerians now live in extreme poverty, surviving on less than $2.15 per day. Rural poverty is staggering at 75.5%, while urban poverty stands at 41.3%. According to Reuters, by August 2025, an estimated 33 million Nigerians are facing acute food insecurity. Inflation, naira devaluation, fuel subsidy removal, recurrent floods, and internal displacement have left two-thirds of households unable to afford food.

Inequality

Nigeria’s inequality gap has never been wider, despite being Africa’s largest economy. With abundant human capital and vast resources, Nigeria has the economic potential to lift millions out of poverty. Yet the wealth distribution remains grotesquely skewed. According to Oxfam, the combined wealth of Nigeria’s five richest men $29.9 billion, could end extreme poverty nationwide. Meanwhile, over 5 million Nigerians are at risk of hunger and starvation. More than 112 million people live in poverty, yet the richest Nigerian man would need to spend \$1 million a day for 42 years to exhaust his wealth. His annual earnings alone could lift 2 million people out of poverty for a year. This is the textbook case of an economy trapped in extreme inequality.

Policy Recommendation

If Nigeria is serious about reversing this deterioration, the government must move beyond statistical gimmicks. A realistic policy response would be to mandate a Commission that directly links export earnings to job creation and poverty reduction. This means:

1-Mandating that a percentage of non-oil export revenues be reinvested into agro-industrial value chains to generate decent jobs.

2-Expanding targeted social protection programs funded from windfall oil revenues to cushion the poorest households against inflation and food insecurity through deliberate and direct cash transfers.

3- Enforcing progressive taxation on extreme wealth to finance healthcare, education, and rural infrastructure. Areas where inequality is most glaring.

Without policies that directly address poverty, unemployment, and inequality, Nigeria’s so-called “export-led rebound” will remain nothing more than a statistical illusion.

Nazeer Baba wrote from Abuja, Nigeria, via Babanazeer29@gmail.com.

Muhammad Isah Zng

Special Primary School in Zangon Gabas, Ungogo Local Government Area of Kano State, is struggling with insecurity and abandoned, burnt classrooms, leaving pupils and teachers in a difficult learning environment.

A resident and Islamic teacher, Abdullahi Ahmed, voiced concern that the school has been neglected by the government, leaving it vulnerable to vandalism and deterioration. He stated that youths often break onto the premises after lessons to play football, which frequently results in damage to school property and theft of valuable items.

“The major problem is insecurity. Youths come into the premises, deface classrooms, and steal items. If nothing is done, this school may one day become history,” Ahmed said.

Besides security breaches, classrooms that were burned several years ago remain unrepaired and unused, further reducing available learning space. Ahmed, who also uses the classrooms for Islamic lessons, disclosed that the headmaster had hired a security guard and was paying him from personal funds to protect the remaining facilities.

Community members are urging the Kano State Government to urgently repair the classrooms that were burned and to ensure security to protect the school. Education stakeholders warn that if no action is taken, the worsening conditions could jeopardise the future of pupils in Zangon Gabas.