Nigeria morning news: APC, INEC, CBN, Presidency scandals

Fresh political and regulatory battles are unfolding as the All Progressives Congress risks a face-off with the Independent National Electoral Commission, INEC, over its revised list of senatorial candidates ahead of the 2027 elections.
The Presidency is also facing renewed scrutiny after the Federal Government prosecuted the alleged head of a fake presidential agency, while the Central Bank revoked the licences of 46 microfinance banks for regulatory breaches, and other interesting top stories that made the news this morning.
The APC may be heading for a dispute with INEC after restoring six serving senators and revising the outcome of its National Assembly primaries across nine states. The electoral commission warned that it would reject any candidate whose name does not match the results of primaries monitored and uploaded by INEC, raising uncertainty over the party’s revised nominations.





The Presidency has come under fresh scrutiny following the prosecution of Prince Adeniyi Adeyemi, who allegedly operated a fictitious government agency, forged a presidential appointment letter and maintained dozens of bank accounts linked to non-existent government bodies.


CBN revokes licences of 46 microfinance banks over breaches

The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks, citing their failure to comply with key regulatory requirements. The revocation, which took effect from July 1, followed the approval of CBN Governor Olayemi Cardoso.


CBN issues fresh guidance on troubled banks’ contract suspensions