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TSA: FG saves N45bn monthly, says finance minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government is currently saving an average of N45bn monthly in interest payments following the implementation of the TSA (Treasury Single Account).
Ahmed, who spoke during the signing of a Memorandum of Understanding (MOU) on TSA between Nigeria and the Republic of The Gambia, said among other verifiable benefits, Nigeria could easily determine its aggregate cash balance, critical for managing public finances at a time of acute fiscal constraints.
“On the monetary policy side, we have better control over money supply and, therefore, able to rein in inflation and undue pressure on the naira. Our foreign reserves position has also recorded appreciable improvement through the consolidation of the federal government foreign currency earnings under the TSA,” she said.
Ahmed recalled the last visit by officials of The Gambia in May 2019 for a week-long study tour of the TSA implementation.
The minister said following the successful conclusion of the tour, The Gambia requested technical cooperation with Nigeria to support its own transition to the TSA.
She said in order to achieve that aim, representatives of both countries worked on an MoU detailing the terms and scope of the cooperation.
Ahmed said, “In a nutshell, the cooperation seeks to avail the Ministry of Finance and Economic Affairs of The Gambia of the vast knowledge, experience and technical expertise that Nigeria has gained in the past 15 years of implementing TSA in particular and other public financial management (PFM) reforms in general.
“By so doing, The Gambia is properly guided as it implements its own TSA. The cooperation will enable The Gambia to leverage the experience of Nigeria to build on our strengths while avoiding our mistakes.
“We are happy to support The Gambia in their bid to implement TSA and other PFM reforms. We are also open to supporting other African countries which may want to build on our experience and significant progress in TSA implementation.
“It is our belief that African countries are better off learning from each other and supporting each other because of our shared culture and history.”
The minister urged The Gambia to muster the necessary political will before forging ahead with adopting the TSA.
She warned that it was better to secure the buy-in of topmost political actors in the country.
She stressed the importance of the synergy between the fiscal and monetary authorities.
She noted that the cooperation of other stakeholders such as the parliament; ministries, departments and agencies of government, banks and service providers was also important.
Ahmed urged those to drive the reforms to secure the support of the general public.
“As is the case in Nigeria, when you have their support, they will take it upon themselves to be against forces of resistance and any attempt at derailing the reforms,” Ahmed said.
In her remarks, the leader of the Gambian delegation to the MoU signing ceremony, the country’s Permanent Secretary, Ministry of Finance and Economy, Ms. Ada Gaye, explained that cooperation has helped them to understand the workings of the TSA.
“The Gambia wants to efficiently manage its funds; the fragmentation of accounting systems in The Gambia is huge. It is, therefore, noteworthy for The Gambia to adopt TSA,” she said.
She added that the government of The Gambia will create the needed sensitisation to help the people understand the process.
“Nigeria is the big brother while The Gambia is the small brother. We are happy to cement this brotherly love,” she said.
The Gambian High Commissioner to Nigeria, Mr Amadou Sheikh Oman Taal, also described Nigeria as a big example within the Economic Community of West African States (ECOWAS) region.
“We are trying to make reforms in our financial management. Therefore, this collaboration with Nigeria is very important to us. So, The Gambia Central Bank will get closer to the Central Bank of Nigeria (CBN) so as to learn and get the necessary experience,” he stated.
Governor of CBN, Godwin Emefiele, said the role of the apex bank was critical to the success of the TSA.
Represented by the CBN Deputy Governor, Operations, Adebisi Shonubi, Emefiele said Nigeria was currently realising additional benefits, which were never imagined prior to the commencement of the TSA.
According to him, it is important that the Central Bank of Gambia realises that its primary mandate of price stability will change as it assumes the back stock and corresponding bank for the country as a result of the TSA.
Emefiele said, “Nigeria remains a brother in the house and we are always willing to share our experiences, our gains and sometimes our pains. I know we will be a worthy ambassador of what the TSA has done in Nigeria, The Gambia and other countries in Africa.”
News
Ramadan Begins in Nigeria as Sultan Confirms Crescent Sighting
Ramadan Begins in Nigeria as Sultan Confirms Crescent Sighting
Abuja — The Sultanate Council on Tuesday night confirmed the sighting of the crescent moon, officially signaling the commencement of Ramadan 1447AH in Nigeria.
The President-General of the Nigerian Supreme Council for Islamic Affairs (NSCIA) and Sultan of Sokoto, Muhammad Sa’ad Abubakar III, announced that the new moon was sighted in parts of the country, thereby declaring Wednesday, February 18, 2026, as the first day of fasting for Muslims nationwide.
The announcement followed verified reports from moon-sighting committees across several states, in line with Islamic tradition which requires physical sighting of the crescent to mark the beginning of the ninth month of the Islamic lunar calendar.
In his message to the Muslim faithful, the Sultan urged Nigerians to use the holy month to pray for peace, unity, and national development. He also called on Muslims to embody the virtues of patience, compassion, charity, and self-discipline which Ramadan represents.
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Ramadan, one of the five pillars of Islam, requires adult Muslims to abstain from food, drink, and other physical needs from dawn until sunset throughout the month. The period is also marked by increased devotion, nightly congregational prayers in mosques, recitation of the Qur’an, and acts of charity to the less privileged.
Across major cities including Abuja, Lagos, Kano, and Port Harcourt, mosques recorded increased attendance for special night prayers following the announcement. Markets also witnessed heightened activity as families made last-minute purchases in preparation for the fasting period.
Ramadan will last 29 or 30 days, depending on the sighting of the next crescent, and will culminate in the celebration of Eid al-Fitr, marking the end of the fasting month.
Muslim leaders have encouraged faithful to observe the fast in accordance with Islamic teachings while maintaining harmony and mutual respect within Nigeria’s diverse society.
Ramadan Begins in Nigeria as Sultan Confirms Crescent Sighting
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Saudi Arabia Confirms Sighting of Ramadan Crescent, Fasting Begins Wednesday
Saudi Arabia Confirms Sighting of Ramadan Crescent, Fasting Begins Wednesday
Riyadh, February 17, 2026 — Authorities in Saudi Arabia have officially confirmed the sighting of the crescent moon marking the beginning of the holy month of Ramadan, signaling that fasting will commence on Wednesday, February 18, 2026.
The announcement was made Tuesday evening following reports from moon-sighting committees across the Kingdom. In a statement carried by state media, the Supreme Court confirmed that verified testimonies of the crescent’s sighting had been received after sunset on the 29th day of Sha’ban.
With the confirmation, Muslims throughout the Kingdom will begin the first fast of Ramadan at dawn on Wednesday.
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Religious authorities had earlier called on citizens and residents to look for the crescent on Tuesday evening and report any confirmed sightings to the nearest court. Observations were conducted in various regions, including areas around Riyadh and Mecca, as part of the Kingdom’s longstanding tradition of physical moon sighting.
Ramadan, the ninth month of the Islamic lunar calendar, is observed by Muslims worldwide as a period of fasting, prayer, charity, and spiritual reflection. The start of the month is determined by the sighting of the new crescent moon, in accordance with Islamic tradition.
Several other countries in the Gulf region are also expected to begin fasting on Wednesday following similar confirmations, while some nations may rely on local moon sightings to determine their own start date.
Further announcements regarding the duration of nightly Taraweeh prayers and official Ramadan working hours are expected from relevant authorities in the coming days.
Saudi Arabia Confirms Sighting of Ramadan Crescent, Fasting Begins Wednesday
News
Former INEC REC Warns of “Chaos” in 2027 Over E-Transmission of Election Results
Former INEC REC Warns of “Chaos” in 2027 Over E-Transmission of Election Results
A former Resident Electoral Commissioner (REC) of the Independent National Electoral Commission (INEC), Mike Igini, has raised concerns that Nigeria’s ongoing debate over electronic transmission of election results exposes unresolved legal, institutional, and technological challenges, despite years of electoral reforms. Speaking on Channels Television’s Politics Today on Monday, Igini warned that recent Senate amendments to the Electoral Act could create confusion and vulnerabilities in future elections, particularly the 2027 general polls. He stressed that failing to clarify rules on electronic results transmission risks undermining democracy, transparency, and public confidence.
The controversy stems from the Senate’s recent amendment to the Electoral Act, which now allows electronic transmission of results but removed the “real-time” requirement that had previously been proposed to enable direct uploading from polling units to the INEC Result Viewing Portal (IREV). Under the amendment, Form EC8A, the physical result sheet, remains the primary document in cases of internet outages or connectivity failure. Igini cautioned that this creates a grey area that could trigger disputes in 2027 if presiding officers are allowed discretion over network availability, highlighting that legal and technological clarity is essential to avoid chaos.
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Referencing a 2021 technical report by INEC and the Nigerian Communications Commission (NCC), Igini said Nigeria possesses adequate telecommunications coverage, with 2G and 3G networks covering about 93% of the country, making electronic transmission feasible nationwide. INEC had also mapped polling units to mobile network operators and prepared SIM cards and data arrangements to ensure smooth uploads to IREV. He explained that Nigeria had previously relied on interim innovations, including biometric voter registers, card readers, and digital result-viewing platforms, to enhance transparency where legal provisions prohibited full electronic transmission.
Igini further warned that introducing discretionary fallbacks for “network issues” could reintroduce vulnerabilities, as presiding officers might abuse their authority to manipulate results. He emphasised that modern election devices, such as BIVAS machines, can operate both online and offline, uploading results at the nearest connectivity point to ensure integrity in IREV. “The whole purpose of IREV is to make results verifiable and immutable once entered. Allowing manual override defeats the reforms we have painstakingly implemented over the years,” he said.
He also noted that judicial interpretations and evolving legislative amendments have contributed to uncertainty over the legality of technological innovations in elections. Igini urged lawmakers to consider the long-term implications of changes to the Electoral Act, stressing that Nigeria’s democratic stability relies on cooperation between INEC, the judiciary, and key stakeholders. “Our democracy’s future depends on the rule of law. Without it, society risks being dominated by those who act for personal interest rather than public good,” he added.
With the 2027 elections approaching, Igini’s warnings underscore the need for clear legal frameworks, technological preparedness, and robust institutional coordination. He urged all stakeholders to work collaboratively to ensure that electronic transmission of results enhances transparency, accountability, and credibility in Nigeria’s electoral process.
Former INEC REC Warns of “Chaos” in 2027 Over E-Transmission of Election Results
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