Echotitbits – Nigeria News

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  • Lawmakers Move to Place CBN Operations Under Tighter Oversight

    Lawmakers Move to Place CBN Operations Under Tighter Oversight

    Photo Credit:Punch Newspapers

    The House of Representatives is considering a bill that would subject key operations of the Central Bank of Nigeria to stronger legislative oversight and transparency requirements. Sponsors of the proposal say recent controversies over foreign‑exchange management, Ways and Means financing and intervention funds justify clearer rules and reporting obligations.

    While acknowledging the need for central‑bank independence, proponents argue that accountability to the Nigerian people through parliament cannot be compromised. The bill could reshape the balance between monetary authorities and elected officials, with implications for banking regulation, inflation management and investor confidence.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Reps Demand Lower Airfares Ahead of Christmas Travel Rush

    Reps Demand Lower Airfares Ahead of Christmas Travel Rush

    Photo Credit:Punch Newspapers

    The House of Representatives has urged domestic airlines and aviation regulators to reduce airfares ahead of the Yuletide season, warning that current prices are pushing many Nigerians off air travel. Lawmakers argued that high ticket costs, often justified by foreign‑exchange volatility and fuel prices, are undermining mobility and hurting economic activities.

    The House called on the Nigerian Civil Aviation Authority and other agencies to engage airlines on price moderation and transparency, while exploring incentives that could lower operating costs. The intervention comes as millions prepare for festive travel, with concerns over safety, congestion and affordability.

    Source: Punch Newspapers – 11 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 11 Dec 2025 2025-12-11

  • Senate Denies Receiving Petitions Against Tinubu’s Envoys

    Senate Denies Receiving Petitions Against Tinubu’s Envoys

    Photo Credit:Punch Newspapers

    The Senate has refuted claims that it received formal petitions against President Tinubu’s ambassadorial nominees, insisting that no written objections were submitted through official channels. Chairman of the Foreign Affairs Committee clarified that while public conversations and media debates exist, the upper chamber can only rely on properly documented complaints.

    The clarification follows controversy around some nominees and questions over their previous political roles. Lawmakers say background checks and security screening will continue, but stressed that due process and fairness will guide final confirmations.

    Source: Punch Newspapers – 11 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 11 Dec 2025 2025-12-11

  • Senate Panel Screens Omokri, Yakubu and Others as Ambassadors

    Senate Panel Screens Omokri, Yakubu and Others as Ambassadors

    Photo Credit:Punch Newspapers

    The Senate Committee on Foreign Affairs has screened a batch of non‑career ambassadorial nominees forwarded by President Bola Tinubu, including social commentator Reno Omokri and academic Professor Yakubu. Lawmakers questioned the nominees on their foreign‑policy priorities, diaspora‑engagement strategies and plans to promote Nigerian trade interests abroad.

    Committee members stressed the need for envoys who can defend Nigeria’s image, attract investments and support citizens in host countries. The nominees are expected to be formally confirmed after the committee submits its report to the full Senate.

    Source: Punch Newspapers – 11 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 11 Dec 2025 2025-12-11

  • Shettima Launches N1tr Dangote Education Fund, Hails Private Sector

    Shettima Launches N1tr Dangote Education Fund, Hails Private Sector

    Photo Credit:The Nation

    Vice‑President Kashim Shettima has formally inaugurated the N1‑trillion Dangote Education Fund in Lagos, describing it as the largest private education support programme in Nigeria. The initiative will provide scholarships and support to 1.3 million students over 10 years, complementing government schemes such as NELFUND, UBEC and TETFUND.

    Shettima said the fund shows how private capital can accelerate national development and warned that an uneducated population is a liability to the country’s future. Education officials and state governors pledged full cooperation, while experts lauded the long‑term impact of the programme on social mobility and productivity.

    Source: The Nation – 12 Dec 2025

    2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12

  • Tinubu Says Nigeria’s Real Wealth Is Citizens’ Creativity, Not Oil

    Tinubu Says Nigeria’s Real Wealth Is Citizens’ Creativity, Not Oil

    Photo Credit:Punch Newspapers

    President Bola Tinubu has declared that Nigeria’s future prosperity depends more on the creativity and innovation of its citizens than on crude oil revenues. Speaking at a public event, he argued that human capital, entrepreneurship and digital skills are the true drivers of a $1‑trillion economy, while natural resources should be treated as enablers rather than the core of national wealth.

    Tinubu urged policymakers, investors and young people to embrace productivity, technology and value‑addition across sectors, pledging continued reforms to remove obstacles facing businesses and innovators. The remarks reinforce the administration’s push for economic diversification and investments in education, tech talent and creative industries.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Photo Credit:The Nation

    President Bola Tinubu has transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate, seeking expeditious approval ahead of the 2026 budget presentation. The document, already cleared by the Federal Executive Council, proposes a crude benchmark of $64.85 per barrel and an exchange rate of ₦1,512 to the dollar for the 2026 cycle.

    Deputy Senate President Jibrin Barau referred the framework to the Finance Committee with a deadline for its report. Under Nigeria’s Fiscal Responsibility Act, the MTEF/FSP provides the foundation for annual budgets, guiding revenue targets, borrowing limits and expenditure priorities across sectors.

    Source: The Nation – 12 Dec 2025

    2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12

  • US Seizes Nigerian-Owned Supertanker Over Alleged Crude Theft

    US Seizes Nigerian-Owned Supertanker Over Alleged Crude Theft

    Photo Credit:Vanguard

    The United States Coast Guard, working with the US Navy, has intercepted a Nigerian‑owned supertanker, Skipper, over allegations of crude oil theft, piracy and other transnational crimes. The Very Large Crude Carrier, reportedly linked to Nigeria‑based Thomarose Global Ventures Ltd. but registered to a Marshall Islands company, was said to be flying Guyana’s flag without authorisation at the time of seizure.

    US security sources indicated that the operation was conducted under American law‑enforcement authority, with investigations extending to suspected drug‑trafficking and money‑laundering networks. Nigerian maritime experts say the incident raises serious questions about the country’s port‑state control regime and the broader impact of crude theft, which observers estimate costs Nigeria billions of dollars annually.

    Source: Vanguard – 12 Dec 2025

    2025-12-12 10:00:00 Vanguard – 12 Dec 2025 2025-12-12

  • US Lawmakers to Brief Trump on Alleged Killings in Nigeria

    US Lawmakers to Brief Trump on Alleged Killings in Nigeria

    Photo Credit:Punch Newspapers

    A United States congressional delegation led by Congressman Riley Moore has concluded a fact‑finding trip to Nigeria over alleged genocidal attacks on Christian communities and is expected to brief former President Donald Trump before the end of the month. The team met internally displaced persons, survivors, religious leaders and top Nigerian officials, including the National Security Adviser and Attorney‑General.

    Moore, speaking in a broadcast interview, described testimonies from victims as some of the most disturbing of his career and alleged that extremist groups were behind many of the killings. The planned briefing underscores how Nigeria’s internal security challenges are increasingly featuring in US political debates and among diaspora advocacy groups.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Bird Strike Strands United Nigeria Passengers in Abuja

    Bird Strike Strands United Nigeria Passengers in Abuja

    Photo Credit:Punch Newspapers

    Passengers of United Nigeria Airlines were left stranded at the Abuja airport after a bird strike reportedly damaged an aircraft’s engine, forcing cancellation of a scheduled flight. Frustrated travellers accused the airline of poor communication and inadequate alternative arrangements as they struggled to rebook or secure refunds.

    The incident has reignited concerns about runway wildlife control, safety management and consumer protection in Nigeria’s aviation sector. Regulators are being urged to enforce stricter compensation and communication standards to protect passengers and minimise economic losses from avoidable delays.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12