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Nigeria News (Standard)

Finance Minister Oyedele Approves ₦700,000 Imprest Cap for Ministers in Abuja

Federal circular sets new limits for MDAs, restricts reimbursements and procurement to tighten financial discipline

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22 hours ago

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Federal circular sets new limits for MDAs, restricts reimbursements and procurement to tighten financial discipline

The Federal Government has enforced new spending controls across ministries and agencies in Abuja, placing a maximum reimbursable imprest of ₦700,000 for ministers as at June 3, 2026. The measure, detailed in the 2026 Annual General Imprest Warrant signed by Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, was circulated to all government arms via a directive from the Office of the Accountant-General of the Federation.

According to the circular signed by Accountant-General Shamseldeen Ogunjimi, permanent secretaries and directors-general are now limited to ₦500,000 imprest while directors and heads of departments have a ceiling of ₦300,000. For heads of formations in states and other authorised holders, the limit is set at ₦100,000. The statement emphasised that accounting officers are only to approve funds within these thresholds for eligible imprest holders.

Officials said the move is in line with Financial Regulation 1003 and forms part of renewed efforts to enforce accountability and prudent management of public funds. The Accountant-General’s office also stated that reimbursements for any standing imprest shall be made only once per quarter—exceptionally twice if necessary—significantly reducing the frequency compared to previous years.

Furthermore, the circular directed all accounting officers and expenditure controllers to ensure that any procurement above ₦1 million must be conducted strictly through contract awards in accordance with existing procurement laws. “All local procurement of stores and services costing above ₦1,000,000 shall be made only through award of contracts, except as otherwise provided by the Public Procurement Act,” it read.

The government insists that strict compliance with these regulations is expected across all Ministries, Departments and Agencies. As at press time, there was no official response from opposition parties regarding the new fiscal controls.

Source: https://punchng.com/fg-slashes-ministers-imprest-to-n700000/

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Nigeria News (Standard)

CBN Governor Cardoso Receives 2026 Central Banking Award in London

Olayemi Cardoso honoured as Central Bank of the Year, marking international recognition for Nigeria’s monetary authority

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10 minutes ago

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June 11, 2026

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Olayemi Cardoso honoured as Central Bank of the Year, marking international recognition for Nigeria’s monetary authority

Governor Olayemi Cardoso of the Central Bank of Nigeria has been presented with the 2026 Central Banking Central Bank of the Year Award at a ceremony in London on Thursday. The award, which recognises excellence in central banking practice and leadership, highlights Nigeria’s role in global monetary policy discussions.

The event saw Cardoso join other top financial leaders from around the world as he accepted the prestigious accolade on behalf of Nigeria’s apex bank. The organisers noted that the CBN was selected for its performance and reforms in recent years, though specific criteria for this year’s recognition were not disclosed at the event.

The Central Banking Awards are widely regarded as a benchmark for outstanding achievement among financial regulators globally. Past winners have included central banks from both developed and emerging markets, making this year’s award a significant milestone for Nigeria. Financial analysts say such honours can boost investor confidence and underscore Nigeria’s commitment to international best practices in economic management.

While official reactions from other government figures were not immediately available as at press time, observers within Nigeria’s financial sector have welcomed the recognition. Stakeholders point to ongoing reforms under Cardoso’s leadership and efforts to stabilise the naira and strengthen regulatory frameworks.

The CBN is expected to continue engaging with international partners following this achievement, as monetary authorities look to build on recent gains and address ongoing economic challenges. Further statements from Cardoso or federal officials are anticipated in the coming days.

Source: https://www.premiumtimesng.com/business/business-news/887010-cardoso-receives-2026-central-banking-central-bank-of-the-year-award-in-london.html

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Nigeria News (Standard)

Delta Leaders Urge Protesters to Vacate Oil Facilities After Tinubu’s Intervention

Ijaw and Urhobo elders call for end to occupation of Warri oil installations as presidential mediation begins

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20 minutes ago

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June 11, 2026

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Ijaw and Urhobo elders call for end to occupation of Warri oil installations as presidential mediation begins

Ijaw and Urhobo community leaders in Delta State have appealed to protesters occupying oil facilities in Warri South-West Local Government Area to withdraw, following President Bola Tinubu’s intervention in the ongoing dispute. The call was made on Thursday after federal authorities began mediation efforts aimed at resolving long-standing grievances over the delineation of the Warri Federal Constituency.

According to community sources, the affected oil installations had been occupied by demonstrators demanding implementation of a Supreme Court judgment on constituency boundaries. This action, which disrupted operations at several key sites, prompted urgent engagement from both local leaders and the presidency.

The dispute over Warri Federal Constituency has persisted for years, with various ethnic groups raising concerns about political representation and resource allocation in the oil-rich region. The recent protest heightened tension in Delta State’s South-South zone, with stakeholders warning of possible economic losses if oil production remained paralysed.

Leaders from both Ijaw and Urhobo communities issued separate statements urging their youths to stand down while talks with federal officials continue. “We must give room for dialogue now that Mr President has shown commitment to address our demands,” one statement read. The elders also cautioned against further disruptions, noting the strategic importance of oil revenues for Delta State and Nigeria as a whole.

Presidential envoys are expected to meet with representatives of all aggrieved groups in the coming days. Meanwhile, security agencies have maintained patrols around major installations to deter any escalation. Delta State government officials have not issued an official comment as at press time.

Source: https://www.premiumtimesng.com/news/top-news/887009-warri-crisis-ijaw-urhobo-leaders-ask-protesters-to-leave-oil-facilities-after-tinubus-intervention.html

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Nigeria News (Standard)

Lagos Returnee Narrates Trauma as Xenophobic Attacks Trigger Mass Evacuations from South Africa

Federal government steps up repatriation efforts after multiple Nigerians recount violence and loss during Johannesburg unrest

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24 minutes ago

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June 11, 2026

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Federal government steps up repatriation efforts after multiple Nigerians recount violence and loss during Johannesburg unrest

A Nigerian returnee from Lagos State has described harrowing experiences during the recent wave of xenophobic attacks in South Africa, following the federal government’s renewed evacuation exercise on Thursday. The incident, which unfolded in Johannesburg and other cities, prompted Nigerian authorities to accelerate efforts to bring affected citizens home safely.

According to the returnee, who arrived at Murtala Muhammed International Airport alongside dozens of compatriots, many Nigerians were targeted in their homes and businesses, suffering physical assault and loss of property. The returnee detailed how attackers stormed residential areas, looting shops and setting buildings ablaze, leaving several families stranded with nowhere to turn.

The latest xenophobic violence has heightened concerns among Nigerians both at home and abroad, given the recurring pattern of attacks on foreign nationals in South Africa. In response, government said it remains committed to protecting its citizens wherever they reside. The Ministry of Foreign Affairs announced that over 300 Nigerians had signalled interest in voluntary evacuation since the unrest escalated last week.

An official statement by the Permanent Secretary, Ministry of Foreign Affairs, confirmed ongoing collaboration with the Nigerian High Commission in Pretoria to ensure orderly repatriation. Meanwhile, civil society groups have urged government to provide psychological support for returnees dealing with trauma. “We urge authorities to prioritise rehabilitation and reintegration for those affected,” one advocacy group stated.

As more flights are scheduled to bring additional evacuees home in coming days, stakeholders are calling for long-term diplomatic engagement between Nigeria and South Africa to address the root causes of xenophobia. Experts say economic hardship and rising unemployment in host communities continue to fuel tensions against migrants.

Source: https://www.premiumtimesng.com/news/top-news/886996-xenophobia-evacuations-nigerian-returnee-recounts-traumatic-experiences-in-south-africa.html

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