E-Financial
Senate Confirms Aishah Ahmad, Edward Adamu for Second Term as CBN Deputy Governors
The senate has on Thursday, confirmed Mrs Aishah Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria and Edward Adamu, Deputy Governor, Corporate Services, Central Bank of Nigeria for second and final terms in office.
Deputy Governor, Central Bank of Nigeria, Mrs Aishah Ndanusa Ahmad
The confirmation of second terms came a few days after they were screened by the senate committee on banking on the request of the President.
The request is in line with the provisions of section 8(1) of the Central Bank of Nigeria (CBN) (Establishment) Act 2007 which stipulates that the Governor and Deputy-Governor shall be persons of recognized financial experience and shall be appointed by the President subject to confirmation by the Senate on such terms and conditions as may be set out in their respective letters of appointment.
Speaking during the session, Chairman of the senate banking committee, Uba Sani said that the duo met the requirements expected of them during the screening process.
Aishah Ahmad was first nominated CBN deputy governor in 2017 following a stellar career at key local and international financial institutions.
She has over 26 years combined financial policy and private sector experience, specialising in finance, which she has leveraged to maintain stability in Nigeria’s banking sector during her first term, despite local and international market turbulence. A CFA charter holder, Ahmad is a graduate of University of Abuja (Bsc Accounting); University of Lagos (MBA Finance); and Cranfield University, UK (Msc Finance & Management).
She holds the Chartered Alternative investment Analyst (CAIA) designation and is a fellow of the Chartered institute of Bankers of Nigeria.
Edward Adamu was first nominated for the CBN deputy governorship role in 2018 after a long career in CBN where he rose to the position of Director HR. He began his career with the Unified Public Service (UPS) in 1983. He is a graduate of the Ahmadu Bello University, Zaria, Kaduna State where he acquired a BSc. degree in Quantity Surveying. He is also a fellow of the Nigerian Institute of Quantity Surveyors and the Institute of Credit Administration.
Securities and Exchange Commission (SEC) has unveiled a technology adoption assessment survey for registered capital market operators as part of efforts to deepen innovation and efficiency in the Nigerian capital market.
In a circular, the SEC stated that the exercise was designed to evaluate the level of adoption of advanced technologies among CMOs operating within the Nigerian capital market.
According to the notice, “The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators.”
The SEC directed all registered operators to log into the e-portal at using their current access credentials to complete the survey. The exercise will run for two weeks, from 5 to 20 May 2025.
Speaking recently on the role of innovation in the capital market, Emomotimi Agama, director-general of the SEC, urged stakeholders to embrace technology as a catalyst for growth, improved transparency, operational efficiency, and market resilience.
He noted that the SEC recognises the emergence of new financial products and services driven by technological advancements, and remains committed to adapting its regulatory framework to meet the evolving needs of the market.
According to him, the commission’s approach to innovation is anchored on three pillars: investor safety, market deepening, and problem-solving aimed at building a robust and efficient capital market ecosystem.
Agama also highlighted the commission’s Regulatory Incubation Programme, which allows fintech startups to operate within a controlled environment for one year while appropriate rules are developed to govern their activities.
He said the programme is part of the SEC’s broader strategy to support innovation while safeguarding market integrity and investor interests.
International Monetary Fund (IMF) ,has confirmed that Nigeria has fully repaid about US$3.4 billion loan it got in April 2020 under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices.
IMF said the loan has been repaid as of April 30, 2025 in a statement issued in Abuja, Nigeria’s capital on Thursday.
However, IMF said Nigeria is still expected to honour some additional payments in forms of Special Drawing Rights charges hat will amount to US$30 million annually.
“In line with the IMF’s Articles of Agreements, these charges, levied at the SDR interest rate, which is updated at the beginning of each week, apply to the difference between Nigeria’s SDR holdings (SDR 3,164 million) (US$4.3 billion) and its cumulative SDR allocation (SDR 4,027 million) (US$5.5 billion)
“The net payment of the charges stops when Nigeria’s SDR holdings reach the cumulative allocation amount,” IMF said in the statement. Online fitness
Central Bank of Nigeria (CBN) has allotted N598.33 billion in Nigerian Treasury Bills across three different maturities, with the 365-day bill dominating the auction, accounting for 80 percent of total sales and subscriptions.
A total of N482.62 billion was sold in the 365-day tenor, highlighting strong investor interest in the longer-term security.
The 91-day bill saw the least demand, with subscriptions of N48.4 billion and actual sales amounting to just N38.4 billion. This latest issuance brings the total Treasury bill sales for the year to N7.248 trillion.
At the auction held on Wednesday, May 7, the CBN offered N550 billion across the three maturities, N50 billion for the 91-day, N100 billion for the 182-day, and N400 billion for the 364-day bills. Despite total subscriptions dipping to N1.08 trillion from N1.53 trillion recorded at the previous auction, the auction was still oversubscribed, reflecting continued high liquidity in the financial system.
This demand pressure kept yields largely stable. The 365-day bill saw a marginal increase in yield to 24.41 percent from 24.36 percent, while the 182-day and 91-day yields remained unchanged at 20.38 percent and 18.85 percent, respectively. Yields have maintained a consistent level over the last four auctions, indicating a stable interest rate environment despite fluctuations in demand.
As of May 6, 2025, system liquidity stood at N1.21 trillion. When combined with maturing bills worth N287.98 billion, the total available liquidity more than tripled the N550 billion offered at the auction, further underscoring the robust investor appetite for government securities amid high market liquidity.
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