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FG Creates Culture Academy for Nigerians

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The Federal Government has created a new Nigerian Academy for Cultural Studies (NACUS), a specialized institution dedicated to training individuals in innovative studies and the development of Nigeria’s culture and history.

The academy will also ensure certificates are accepted in the civil service and beyond. This was stated by Otunba Biodun Ajiboye  who is also the Executive Secretary of the National Institute for Cultural Orientation (NICO).

He disclosed that according to Hannatu Musawa, the Honourable Minister of Art, Culture and the Creative Economy, the institution shall have campuses in four geographical zones of North, South and East and the FCT.

Ajiboye noted that this academy is approved by the National Board for Technical Education (NBTE) and would function as the premier institution for cultural training in the nation. The training school is originally within NICO, it now offers a program leading to a National Diploma in Cultural Administration & Management (NDCAM).

Furthermore, its Postgraduate Diploma program is affiliated with Nasarawa State University, Keffi (NSUK). The accreditations and affiliations allow those who have earned the Diploma to pursue a Postgraduate Diploma and eventually a Master’s degree.

Mr. Ajiboye also noted that the rebranding and elevation of what was formerly the Training School of the National Institute for Cultural Orientation (NICO) into a full-fledged higher institution for cultural education and training underscores the critical importance of culture and the necessity for a cultural renaissance to be a central focus in policy-making processes.

He emphasized that this transformation clearly signifies the emphasis placed on culture within these processes.

“With the approval of the National Board for Technical Education (NBTE) and the consent of the Federal Ministry of Art, Culture and the Creative Economy, it is here on note that the government of Nigeria will begin to view culture as an important element in our day-to-day life.

“This first specialized institution to teach culture; the Nigerian Academy for Cultural Studies (NACUS) is a bold step and innovation of the current administration.

We appreciate the federal government for the rebranding and elevation of the institution, which was hitherto the training school of NICO, to a full-fledged higher institution for cultural education and training”, he said.

He also posits that the nation has recognized the importance of incorporating sufficient cultural content into the school curriculum at primary, secondary, and tertiary levels, which means shedding the foreign cultural influences that have been inadvertently adopted over the years. Now, there will be a realization of the importance of our inherent cultural essentials, which will endow the people with a great sense of originality and pave the way for establishing a strong cultural identity.

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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