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$600m monthly diaspora remittances proof of reforms – FG

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The Federal Government has expressed excitement over a sharp rise in diaspora remittances, which have surged to $600m monthly in the past two months, according to figures from the Central Bank of Nigeria.

The Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, said the increase reflected renewed confidence in the Nigerian economy and recent CBN policy reforms.

In a statement issued by NiDCOM’s spokesperson, Abdur-Rahman Balogun, on Monday, Dabiri-Erewa described the inflow as “humongous,” noting that it marked a 200 percent jump from the $200m monthly average previously recorded.

She commended CBN Governor, Olayemi Cardoso, for reforms such as the introduction of the Non-Resident Bank Verification Number and a more competitive exchange rate, which have encouraged Nigerians abroad to channel funds through official platforms.

Dabiri-Erewa also echoed Cardoso’s optimism that remittances could hit $1bn monthly by 2026.

She reaffirmed NiDCOM’s commitment to deepening diaspora engagement through platforms like the Nigerian Diaspora Investment Summit, National Diaspora Day, and the Diaspora Youth Summit.

She further praised the patriotism and trust of Nigerians in the diaspora, stressing that President Bola Tinubu’s administration remained committed to the welfare of citizens both at home and abroad.

Meanwhile, speaking at the Delta State–Brazil Business and Investment Roundtable in São Paulo, Cardoso highlighted the impact of the reforms.

“Our exchange rate is becoming a lot more competitive. Those who previously sought other channels to send their money back home no longer have to do so,” he said.

According to him, the reforms have already boosted inflows from $200m to $600m monthly, underscoring growing confidence in the Nigerian economy.

See also  Tinubu sends state police amendment bill to Senate

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PHOTOS: Two kidnapped children regain freedom after 49 days in captivity and N6m ransom

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Two children and a shoemaker, identified as JB, who were abducted by armed bandits during an attack on Ijalu, Egbe in Yagba West Local Government Area of Kogi State on June 3, 2026, have regained their freedom.

LIB reported that the children were abducted alongside their mother, Mrs Idowu Kemi Totilayo, and baby brother on June 3, 2026.

Troops in conjunction with members of the Vigilante Group of Nigeria (VGN) rescued mother and child.

The victims were released on Tuesday night, July 21, 2026, after spending about seven weeks in captivity.

Their release comes weeks after the children’s father, Mr. Idowu Samuel, made a public appeal for financial assistance, revealing the difficult conditions his children were facing in captivity.

According to Mr. Samuel, armed bandits invaded his home in Ijalu on June 3, abducting his wife, their two children, and a shoemaker identified as JB.

His wife and their infant were rescued later that same night, while the two children and the shoemaker remained in the custody of the kidnappers.

Mr. Samuel had disclosed that the abductors informed the family that the two children had become seriously ill while in captivity.

He also revealed that the kidnappers reduced their initial ransom demand from N200 million to N6 million and requested additional items, including five bags of rice, 25 litres of petrol, five litres of red oil, and five litres of engine oil.

Sources confirmed that the ransom and requested items were eventually provided, leading to the victims’ release.

See also  Tinubu sends state police amendment bill to Senate

The two children are currently receiving medical treatment at an undisclosed hospital, while details about the condition of the shoemaker have not yet been made public.

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DSS rescues four remaining kidnapped Zamfara polytechnic students

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Operatives of the Department of State Services, DSS, in Zamfara State, have rescued all four remaining kidnapped students of the Federal Polytechnic, Kaura Namoda.

This was disclosed in a statement posted on X by security expert, Zagazola Makama.

Makama said DSS operatives, relying on intelligence, rescued the students, comprising four males and a female late Wednesday without any ransom paid.

According to him, one of the kidnappers was arrested during the operation while others did not survive.

The students were said to have been kidnapped on June 3 at their off-campus hostel in the Low-cost area of Kaura Namoda town after armed bandits stormed the building and seized six of them.

“Following an earlier release of two of the six students, security forces intensified an intelligence-led operation, and surgically secured the safe return of the remaining students to the relief of all,” Makama said.

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See also  No going back on reforms, Tinubu tells World Bank team
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PHOTOS: Fire guts popular supermarket in Lagos

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An early morning fire has gutted a part of a popular supermarket in the Akowonjo area of Lagos State.

The Lagos State Fire and Rescue Service, however, said the incident, which happened at a store around Jimoh Bus Stop, Egbeda-Akowonjo, Lagos, was extinguished by firefighters.

Confirming the incident, the Controller General of the Lagos State Fire and Rescue Service, Margaret Adeseye, in a statement released, said

“The incident involves the second floor of the commercial building, housing the electronics section of the store. Upon arrival, firefighters swiftly deployed firefighting equipment and commenced coordinated operations to contain the fire, prevent its spread to adjoining sections of the building, and safeguard lives, property and the environment.

The Fire has been put out, and recovery of the remains is ongoing to bring the mop-up exercise to a wrap. The cause of the fire is suggestive of an alternative power source solar inverter system, while no casualty has been recorded.”

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