By Patrick Idowu

President Bola Ahmed Tinubu has nominated Mr Taiwo Oyedele as Minister of State for Finance, replacing Dr Doris Uzoka-Anite.

In a letter to Senate President Godswill Akpabio, the President sought the Senate’s confirmation of Oyedele’s appointment. Uzoka-Anite has been redeployed to the Ministry of Budget and National Planning as Minister of State.

Oyedele, from Ikaram-Akoko in Ondo State, was until his nomination the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which led major reforms of Nigeria’s tax system.

An economist and accountant, Oyedele holds a Higher National Diploma in Accountancy and Finance from Yaba College of Technology and a BSc in Applied Accounting from Oxford Brookes University.

He has attended executive programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

He spent 22 years at PwC, rising to Fiscal Policy Partner and Africa Tax Leader. Oyedele is also a professor at Babcock University and a visiting scholar at Lagos Business School.

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.

By Huldah Shado

A female Point of Sale (POS), operator was killed on Monday morning after a commercial coaster bus struck her near the Total filling station in Berger, Abuja.

Eyewitnesses said the bus was allegedly being chased at high speed by FRSC officials when it hit the woman as she crossed the road.

She was critically injured and confirmed dead before police arrived. A bystander filmed the incident and assisted investigators.

FCT FRSC Sector Commander, Felix Theman, said an investigation has begun, with all patrol teams in the area recalled to determine if any FRSC vehicle was involved.

He urged the public to avoid drawing premature conclusions.