May, 2026 - Skypenewsnaija

[UPDATED] CBN Holds Monetary Policy Rate Steady At 26.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting, which recorded the attendance of 11 members. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5% […]

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May 20, 2026
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Breaking News

NDLEA Dismantles Nigerian-Mexican Meth Syndicate, Seizes ₦480bn Drugs In Ogun Forest

The National Drug Law Enforcement Agency (NDLEA) on Wednesday said it dismantled what it described as a sophisticated Nigerian-Mexican methamphetamine production syndicate operating from a clandestine laboratory hidden deep inside a forest in Ogun State. The operation, carried out by operatives of the agency’s Special Operations Unit (SOU), led to the arrest of 10 suspects, […]

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May 20, 2026
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Breaking News

Era of manual inefficiency must end in Nigeria’s civil service — Tinubu

President Bola Ahmed Tinubu has declared that the era of manual inefficiency in Nigeria’s public service must give way to transparency, speed and accountability, as he directed all Ministries, Departments and Agencies (MDAs) to deepen digitalisation across their operations. Tinubu made the declaration on Wednesday at the opening ceremony of the International Civil Service Conference […]

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May 20, 2026
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Breaking News

Oyo school abduction: Rescue efforts ongoing – Husband of kidnapped principal

Husband of the abducted principal of Community Grammar School, Esiele, in Oriire Local Government Area of Oyo State, Professor Wole Alamu, has disclosed that intensive efforts are ongoing to secure the release of the kidnapped pupils, teachers and school administrators. Professor Alamu, whose wife, Mrs Folawe Alamu, was among those abducted during the attack on […]

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May 20, 2026
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Business

Lagos releases ₦5bn intervention fund for MSMEs

Folashade-Ambrose-Medebem The Lagos State Government has released ₦5 billion to support small businesses under its flagship MSME financing programme, LASMECO, as part of efforts to expand access to funding for entrepreneurs and cooperative-based enterprises across the state. Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, revealed this on Wednesday, at the ongoing ministerial […]

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May 20, 2026
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Breaking News

Capital market: T+1 settlement cycle takes off June 1 — SEC

The Securities and Exchange Commission, SEC has announced the transition to a T+1 settlement cycle for equities and commodities transactions with effect from Monday June 1, 2926. The Commission in a notice, outlined a comprehensive framework that all capital market operators and relevant stakeholders are encouraged to adopt in preparation for this significant change. The […]

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May 20, 2026
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Nigeria’s oil exploration declines 41.7% as rig count falls — OPEC

Nigeria’s oil exploration and drilling activities declined by 41.7 per cent in April 2026, following reduced upstream operations and investment activities. According to the May 2026 Monthly Oil Market Report, MOMR, of the Organization of the Petroleum Exporting Countries, Nigeria’s rig count – a major indicator of upstream oil and gas activities – dropped to […]

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May 20, 2026
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Breaking News

UPDATED: EFCC Arrests Convicted Ex-Power Minister Saleh Mamman

The Economic and Financial Crimes Commission (EFCC) has arrested former Minister of Power, Saleh Mamman, who was recently convicted and sentenced by the Federal High Court, Abuja, for financial misappropriation while he served in that position. EFCC Chairman Ola Olukoyede confirmed he was arrested at 3:30 am on Tuesday. “Ladies and gentlemen, you will recall […]

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May 19, 2026
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Breaking News

Some people warned Tinubu against wearing clothes I gave him — Shettima

Vice President Kashim Shettima on Tuesday revealed that barely three months after President Bola Tinubu was sworn into office, some people from Borno State visited the President and warned him to stop wearing traditional attire given to him by Shettima during the 2023 campaign, alleging the garments had been used to charm him and would […]

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May 19, 2026
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Breaking News

FGN bonds record 32% oversubscription in May auction

Strong investors demand for the Federal Government of Nigeria (FGN) debt instrument continues in May as the government’s bond auction in May 2026 recorded a 32.8% oversubscription. The Debt Management Office (DMO) disclosed this on Tuesday. Investors bid N797.17 billion (including a N280 billion non-competitive bid) for bonds worth N600 billion with total allotments rising […]

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May 19, 2026
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