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Glitches: FG mulls harmonised regulatory framework to boost financial inclusion

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Amid glitches many Nigerians experience in online financial transactions, the Federal Government in conjunction with key stakeholders on Monday, engaged in a brainstorming session to birth harmonised regulatory framework.

Stakeholders drawn from the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation, NDIC, the Chartered Institute of Bankers of Nigeria, CIBN, Lagos Business School, the Nigeria Financial Intelligence Unit, NFIU, the Nigeria Police Force, among others, all gathered at the Presidential Villa, Abuja to explore ways that could be beneficial in addressing glitches that has become a regular trend in the financial services sector.

They observed that many Nigerians are dissatisfied over government’s poor financial inclusion policies, noting that an harmonised system of addressing complaints may salvage the sector from losing public trust.

The meeting called at the instance of Nurudeen Zauro, Special Adviser to the President, on Economic and Financial Inclusion, noted that the government had developed plans to ease transactions, payments, savings, credit and insurance, as well as help people manage risks, build wealth and invest in businesses.

Zauro stated that the government is poised to pursue legislation to address the issue of consumer trust, if necessary.

With Financial Inclusion, individuals and businesses are expected to have access to and use affordable financial products and services that meet their needs, which are delivered in a responsible and sustainable way.

Over the years, however, Nigerians had issue with trust.

Zauro charged the stakeholders to “ build public trust” in the management of financial inclusion, set clear declaration on where customers can make necessary complaints and work on the regulatory spectrum to address the challenges in the national inclusion issue.

According to him, “ The People must trust and have confidence in the system, as well as evolve mechanisms on how people can seek redress for infractions”

He recalled how President Bola Tinubu had in 2024, issued an order to strengthen partnership, collaboration, commitment amongst the stakeholders, as well as recognition of the importance of financial institutions in the Nigerian economy.

“So what brings about this national framework for consumer trust? We believe that for people to come and be financially included, they have to build confidence and trust in the system”

He recalled that there have been issues around cyber security, 419, trusts and even lack of knowledge in terms of capacity building.

“So because of that, there’s a need for us to ensure that all the instrumentality of government are on board, they are doing their work in order to restore the trust of the last man, the poor and vulnerable Nigerian. That is why we started with the workshop with the entire stakeholders.

He disclosed that the stakeholders forum was the direct result of over one-year brainstorming sessions which harmonized the national consumer trust framework.

“ So we know a lot of agencies that are doing good things, like the Central Bank, they are doing fantastic job. All the regulators are also doing good things.

He assured that the Presidency will keep engaging “stakeholders to see how they can we serve Nigerians better?

He also revealed that the Presidency already has a draft framework.

“That’s why both the private and public sector institutions are all heavily represented in this at the end of the day, it will be issued as a national framework for the country.

“As we move on, if the situation demands legislation, then that will be done. Mr. President is pretty much ready, is available, to do all that is needed to restore the confidence of Nigerians in the financial system,

“He will be able to say; yes,I believe we have, we have a trusted financial system”

Aisha Olatiwoon, Director of consumer protection and financial inclusion of the Central Bank of Nigeria, said the CBN has done much in ensuring that consumers of the banking sector gets remediation for breach of the financial inclusion plans of the federal government

“ I think, where the issue is, is that every complaint is pushed by the consumer to CBN.

“ Do, the reason I said the workshop today is apt, bringing together various regulators from different industries, even beyond the financial system.

The CBN blamed illiteracy on the side of the consumer for some of the challenges

“ Complaints that should come to CBN are basically complaints that remain unresolved by the financial institutions. And what do I mean by this? Customers are supposed to first escalate to their banks, and it is when the banks do not resolve within the regulatory specified period, or when the resolution is unsatisfactory to the consumer, then the consumer has a CBN backup, not withstanding all of this arrangement, the CBN has put in place a customer complaint management solution, which we are working to integrate with the industry dispute resolution system.

“That way, we have an overview and a very clear online visibility of companies and hold financial institutions responsible for not resolving within the set time”

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NAHCON announces deadline to remit 2026 Hajj fares

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The National Hajj Commission of Nigeria, NAHCON, has fixed October 8, as deadline for States’ Muslim Pilgrims’ Welfare Boards, Agencies, Commissions, and licensed Hajji Operators to remit Hajj fares for the 2026 pilgrimage.

NAHCOH spokesperson, Fatima Sanda Usara disclosed this in a statement to Ekwutosblog on Monday.

Sanda Usara disclosed this in a statement to Ekwutosblog on Monday.

 

This comes as the Saudi Government announced October 12, 2025 (20 Rabi’ al-Thani 1447H) as the final date for the announcement of pilgrims’ registration and submission of data.

“NAHCON has fixed October 8, 2025, as the cut-off date for State Muslim Pilgrims’ Welfare Boards, Agencies, Commissions, and licensed Hajj Tour Operators to remit Hajj fares for the 2026 pilgrimage.

“The Commission urged all stakeholders to adhere strictly to the deadlines in order to ensure smooth operations and guarantee a successful Hajj experience for Nigerian pilgrims”

Earlier, the Chairman of NAHCON, Prof Abdullahi Saleh Usman, led a delegation of Commissioners and the Secretary of the Commission, Dr Mustapha Ali, to Saudi Arabia to finalise the commission’s synergy with key players ahead of the 2026 Hajj.

According to the Commission, this move is part of preparations in line with the operational calendar released by the Saudi Ministry of Hajj and Umrah (MoHU).

“This comes as the Saudi authorities had earmarked September 6–23, 2025 (15–29 Safar 1447H) for early contracting and payment for Mashair (camps), while September 23–24, 2025 (1–2 Rabi’ al-Awwal 1447H) has been fixed as the deadline for contracting essential services such as transportation and accommodation”, the statement added.

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NiMet to provide weather information for rural farmers in 9 states

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The National Coordinator of the Value Chain Development Programme, VCDP, Dr Fati Aliyu, has disclosed that, to mitigate the effects of climate change and boost crop yields, the agency has entered into an agreement with the Nigerian Meteorological Agency, NiMet, to provide daily weather forecasts to smallholder farmers in nine states.

The participating states include Niger, Kogi, Benue, Nasarawa, Kwara, Taraba, Anambra, Ebonyi and Enugu.

Dr Aliyu made this known during the graduation of youth fabricators and the distribution of equipment to beneficiaries of the VCDP Adaptation for Smallholders Agriculture Programme, ASAP grant in Minna, Niger State.

According to her, the partnership has led to the establishment of mini weather stations in local government areas, where farmers receive forecasts in their local languages to enable them to make informed decisions about their agricultural activities.

Dr Aliyu also explained that the ASAP grant included the distribution of equipment to 45 beneficiaries across nine local government areas in Niger State. These include cassava peel conversion machines, rice husk briquette machines, solar-powered irrigation water pumps, power tillers for bunds, and laptops and phones for climate information.

The national coordinator further noted that the grant is designed to strengthen the resilience of smallholder farmers against climate change in two of the nine participating states, targeting 24,000 beneficiaries—19,000 farmers in Niger State, including women, and the remaining 5,000 in Kogi State.

 

“The intervention covers climate-resilient planting materials, soil conservation, waste-to-wealth initiatives, improved access to water resources, and renewable energy solutions.

“Additionally, youths were trained in fabricating agricultural equipment, empowering them with practical skills to create jobs and support farmers,” she added.

The Niger State governor, Mohammed Umaru Bago, represented by his deputy, Yakubu Garba, commended VCDP for the initiative, which he said aligns with the state’s desire to revolutionise agriculture.

He expressed appreciation to the federal government and IFAD/VCDP for recognising the state’s efforts in agriculture and assured continued support, while congratulating the beneficiaries of the ASAP grant who were trained on the maintenance and fabrication of agricultural equipment.

The Permanent Secretary of the Federal Ministry of Agriculture, Engr Marcus Ogunbiyi, represented by Mohammed Bashir Abdulkadir, a director, said empowering youths with practical skills is crucial for strengthening the agricultural machinery ecosystem.

The state coordinator of VCDP, Hajiya Hadizat Isah, thanked the state government for providing an enabling environment for the programme and called for the payment of counterpart funding for 2025.

Earlier, the Permanent Secretary of the Niger State Ministry of Agriculture, Dr Ahmed Matthew, observed that the equipment given to beneficiaries would go a long way in encouraging youths to venture into agriculture, as well as helping farmers reduce post-harvest losses.

Representatives of NAMDA, the Federal Ministry of Agriculture and Food Security, Minna-Green House, the Chairman of Edati Local Government, and the Executive Director of the National Animal Production Research Institute, NAPRI, also applauded the initiative, saying it would bring growth and development to the agricultural sector.

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Rivers: Gov Fubara meets Tinubu after emergency rule

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Rivers State Governor Siminalayi Fubara is currently at the Presidential Villa in Abuja for a visit to President Bola Tinubu.

The reason for his visit was not immediately ascertained, but it may not be unconnected to the president’s role in the restoration of peace in the state.

According to Channels TV, the governor arrived at the villa alone at about 6:20 pm on Monday and made his way towards the office of the President.

Ekwutosblog reports that Fubara, his deputy, and members of the state House of Assembly, who were suspended in March over the protracted political crisis, were reinstated by the president last week.

The governor has, in a statewide broadcast, expressed appreciation to the President for intervening in the crisis in Rivers State.

He also lauded the Minister of the Federal Capital Territory, Nyesom Wike, for giving peace a chance.

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