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Submit financial returns monthly or risk sanctions, CBN tells microfinance, mortgage banks

Submit financial returns monthly or risk sanctions, CBN tells microfinance, mortgage banks
The Central Bank of Nigeria has directed my icrofinance banks, Primary Mortgage Banks (PMBs) and Development Financial Institutions (DFIs) to submit their financial returns monthly through the FinA application or risk sanctions.
The apex bank disclosed this in three separate letters signed by its Director of Financial Policy and Regulatory department, Valentine Ururuka, to the financial institutions under the categories listed.
According to the letters, the CBN stated that all financial institutions under the categories listed should submit the monthly FinA on or before the 5th of the next month.
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It stated, “The Central bank of Nigeria has observed with dismay the late and non-rendition of periodic returns on FinA by Microfinance banks. All MFBs are therefore reminded on the provisions of section 24 of the Banks and Other Financial Institutions Act (BOFIA), 2020, and other extant regulation on timely rendition of regulatory returns.
“Consequently, all MFBs are to ensure that their monthly FinA returns are submitted on or before the 5th day after the month end. Where the 5th day falls on the weekend or public holiday, returns shall be submitted the previous work day.
“You are strongly advised to ensure timely rendition of all regulatory returns as future breaches shall be sanctioned.”
The same warning on failure to render the regulatory returns at the stipulated time was also issued to both PMBs and DFIs.
News
UK deports 43 to Nigeria, Ghana over immigration offences

UK deports 43 to Nigeria, Ghana over immigration offences
The United Kingdom has deported 43 individuals to Nigeria and Ghana, citing immigration offences, including failed asylum applications and criminal convictions.
In a joint statement released by the Home Office and the Foreign, Commonwealth and Development Office (FCDO) on Friday, UK authorities confirmed the removal but did not specify the exact date of the deportations.
According to the statement, the deportees included 15 failed asylum seekers and 11 foreign nationals who had completed prison sentences. An additional seven individuals reportedly returned to their home countries voluntarily.
“Those removed had no right to be in the UK and included 15 failed asylum seekers and 11 foreign national offenders who had served their sentences. Seven people returned voluntarily,” the statement noted.
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However, the government did not clarify how many were sent to each country or confirm if all were nationals of Nigeria and Ghana.
Since Prime Minister Keir Starmer took office, the UK has organized two charter deportation flights to Nigeria and Ghana, removing a total of 87 people. In October, a record 44 individuals were deported in a single flight to both countries.
This shift comes after the collapse of the controversial UK-Rwanda migration deal, which was ruled unlawful by the UK Supreme Court in 2023. The deal aimed to relocate asylum seekers to Rwanda for processing and resettlement.
In response, the UK reportedly signed a deportation agreement with Nigeria to facilitate the return of undocumented migrants.
Following the latest flight, UK Border Security and Asylum Minister Angela Eagle expressed gratitude to the Nigerian and Ghanaian governments for their cooperation, calling the operation an example of strong international collaboration.
The UK government also noted that over 24,000 individuals have been removed from the country over the past year—an 11% increase compared to the previous year.
UK deports 43 to Nigeria, Ghana over immigration offences
News
Zamfara okays 100% increase in NYSC members’ state allowances

Zamfara okays 100% increase in NYSC members’ state allowances
National Youth Service Corps (NYSC) members posted to Zamfara State are set to receive double their previous state allowances following a directive by Governor Dauda Lawal.
The governor made this known on Friday during the opening ceremony of the 2025 Batch ‘A’ Stream I orientation course in Gusau. Represented by the Secretary to the State Government, Malam Abubakar Nakwada, Lawal reaffirmed his administration’s dedication to corps members’ security and welfare.
“I am happy to inform you that I have directed the resumption of payment of state allowances to all corps members in the state.“I have also directed the upward increments of corps members’ allowances by 100 percent.“My administration is also willing to pay special allowances to the medical corps members serving in the state,” he stated.
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He also encouraged the 550 corps members deployed to Zamfara to embrace the state’s cultural heritage and traditions.
“I assure corps members of adequate security and warm hospitality throughout their year of service in the state.“I wish to reiterate that we will pay full attention to your security and welfare.“We will give you all the necessary support to carry out your duties and will provide everything necessary to make your stay here a memorable one,” the governor added.
In his remarks, NYSC State Coordinator Mohammad Ahmad expressed gratitude for the state government’s ongoing backing of the scheme.
“We appreciate the state government for adequate provision of additional facilities as well as approval for the payment of state allowances to corps members,” Ahmad said.
Zamfara okays 100% increase in NYSC members’ state allowances
News
Just in: Factional Zamfara assembly leaders want governor to represent budget

Just in: Factional Zamfara assembly leaders want governor to represent budget
A factional House of Assembly has emerged in Zamfara state with members demanding the re-presentation of the 2025 Appropriation Bill by Governor Dauda Lawal.
The group, made up of nine lawmakers who were suspended in February 2024 over allegations of misconduct, conspiracy, and illegal sitting, convened in Gusau, the state capital, and declared the formation of a parallel legislative body.
At the session, the lawmakers elected Hon. Bashir Aliyu Gummi as Speaker of the factional assembly.
During the sitting, the faction addressed several issues, including the state’s deteriorating security situation, economic challenges, and the recent reports of mass sackings within the state civil service allegedly carried out by the Lawal administration.
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The group further demanded that Governor Lawal re-present the 2025 budget, arguing that the process followed in its initial passage was flawed. The governor had originally submitted the N545 billion Appropriation Bill to the widely-known State House of Assembly led by Speaker Bilyaminu Ismail Moriki in December 2024. The bill was passed and signed into law that same month.
Present at Wednesday’s session were Hon. Aliyu Ango Kagara (Talata Mafara South), Ibrahim Tudu Tukur (Bakura), Nasiru Abdullahi Maru (Maru North), and Faruk Musa Dosara (Maradun 1). Others included Bashar Aliyu (Gummi 1), Bashir Abubakar Masama (Bukkuyum North), Amiru Ahmed (Tsafe West), Basiru Bello (Bungudu West), and Mukhtaru Nasiru (Kaura Namoda North).
Just in: Factional Zamfara assembly leaders want governor to represent budget
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