News
IMF Rates eNaira Performance Low

The International Monetary Fund has described the public adoption of the eNaira as disappointingly low.
This was contained in a working paper that was released recently by the body and titled ‘Nigeria’s eNaira, One Year After’, where the Bretton Woods institution highlighted how the digital currency fared in its first year.
President Muhammadu Buhari formally unveiled the digital currency at the state house in Abuja on October 25, 2021.
The IMF however said about 98.5 percent of eNaira wallets that were downloaded after the unveiling have been left unused.
READ ALSO: eNaira Records 700,000 Transactions Valued At N8bn – Emefiele
While stating that the Central Bank Digital Currency project had yet to move beyond the initial wave of limited adoption, IMF added that the eNaira usage by households and merchants has been slow.
“The retail wallet downloads saw a few weeks of the initial surge before tapering off. More specially, it only took 25 days for the number of downloaded wallets to reach 500,000 units—but going from there to 600,000 units took another 63 days; and to 700,000 units yet another 143 days,” the paper reads.
“As of end-November 2021, the total number of retail eNaira wallets amounted to about 860,000. This is just 0.8 per cent of Nigeria’s active bank accounts.
“Merchant wallet download has reached about 100,000 in end-June, which is about one-eleventh of the number of merchants with Point-of-Sales (POS) terminals—which enables credit or debit card payments.”
READ ALSO:Transactions On eNaira Platform Free For 90 Days -CBN
The institution further revealed that the downloaded wallets recorded low transactions while some have not been active except for the initial surge it recorded shortly after it was launched.
It added that the average number of eNaira transactions weekly were carried out only by 1.5 percent of downloaded wallets.
“The average number of eNaira transactions since its inception amounts to about 14,000 per week—only 1.5 percent of the number of wallets out there. This means that 98.5 percent of wallets, for any given week, have not been used even once,” the paper further reads.
“The average value of eNaira transactions has been 923 million naira per week—0.0018 percent of the average amount of M3 during this period. The average value per one transaction has been N60,000.”
READ ALSO: CBN Defers eNaira October 1 Launch, Gives Reason
It added that the eNaira’s potential in financial inclusion requires a “strategy to set the right relationship with mobile money, given the former’s potential to either complement or substitute the latter,” the institution said.
“Cost savings from integrating CBDC—as a bridge vehicle—in the remittance process may also be substantial.”
News
NYSC Deploys 1,900 Corps Members To Bauchi State
The National Youth Service Corps (NYSC), has deployed 1,900 corps members to Bauchi State for the 2025 Batch ‘B’ Stream II orientation exercise.
Mr Kufre Umoren, NYSC State Coordinator, told journalists on Tuesday in Bauchi, that registration would be conducted from Sept. 24 to Sept. 26, at the NYSC Permanent Orientation Camp, Wailo in Ganjuwa Local Government Area of the state.
He said the swearing-in ceremony of the corps members is billed for Sept. 26, and the orientation exercise would end on Oct. 14.
READ ALSO:NYSC Pays Arrears After Two-month Break
Umoren said each of the corps members would be allowed into the camp after being adequately certified to be genuine graduates.
He said discreet screening of the corps members would be conducted to guard against intrusion or impersonation.
“Registration dates have been announced to the corps members, and they are advised to adhere strictly to all camp rules and regulations.
READ ALSO:Release Corps Member’s Discharge Certificate, Falana Tells NYSC
“Defaulters will be sanctioned in accordance with the scheme’s extant rules,” he said, warning the scheme frowned at late-night journeys and urged corps members to avoid it for their own safety.
While urging them to be punctual, diligent, and comply with dress code, Umoren warned that defaulting corps members would be sanctioned.
News
Ife Not Origin Of Yoruba Race, Says Oluwo
The Oluwo of Iwo in Osun State, Oba Abdulrosheed Akanbi, has disputed the claim that Ile-Ife is the origin of the Yoruba race.
The royal father said the culture of the race is not in the ancient town of Ife, long noted as the origin of the Yoruba people.
Oluwo, who made this known in a video shared on his Facebook page on Tuesday, spoke in his palace while bestowing a chieftaincy title on one of his subjects.
Flanked by his Chiefs, Oluwo said Ife was not the origin of the Yoruba race, adding that people were living in the town before Oduduwa conquered the city and became its ruler.
He said the language spoken in ancient Ife was not the same as the common Yoruba language, restating his readiness to bring back the correct historical accounts of the Yoruba race.
READ ALSO:Tension In Osun Council As Ataoja, Oluwo Battle For Seniority
“Ife is not the origin of the Yoruba race. Those people don’t speak our language. Their language is different. They refer to God as Eledumare, and there is nothing like Eledumare in the Yoruba language. What we have is Olodumare.
“Ife people will always say Olofin, and if you ask them what the meaning is, they will tell you it means the owner of the palace, and what that means in Yoruba is ‘Alaafin’. Ile-Ife has no Yoruba culture.
“I am the ‘Arole Olodumare because I am here to tell you the true history. Iwo is where you can get the real history that was not even documented.
“Whatever I am telling you now, you must keep it because death can come anytime. I am not scared of death because it is inevitable,” Oluwo said in the Yoruba language.
READ ALSO:OPINION: Oluwo And The Glorification Of Ignorance (1)
The origin of the word ‘Yoruba’ often leads to controversy. The most recent one being the face-off involving the Ooni of Ife, Oba Adeyeye Ogunwusi and Alaafin of Oyo, Oba Akeem Owoade, over a Chieftaincy title of Okanlomo of Yorubaland, allegedly bestowed on Ibadan-based businessman, Chief Dotun Sanusi by Ooni.
The PUNCH reports in August that the Ooni had bestowed the title on Sanusi during the unveiling of 2geda, an indigenous social media and business networking platform, at Ilaji Hotel, Ibadan.
But in a statement signed by his media aide, Bode Durojaiye, the Alaafin declared that no traditional ruler other than him has the authority to confer a title covering the entire Yorubaland. He issued a 48-hour ultimatum to the Ooni to revoke the title or “face the consequences.”
READ ALSO:Why I’m Yet To Visit Ooni Of Ife — Alaafin Of Oyo
Reacting to Alaafin’s ultimatum, the Ooni’s spokesperson, Moses Olafare, said the monarch had directed him to ignore the Alaafin’s outburst and leave the matter “in the court of public opinion.”
“We can not dignify the ‘undignifyable’ with an official response. We leave the matter to be handled in the public court of opinion, as it is already being treated.
“Let’s rather focus on narratives that unite us rather than the ones capable of dividing us. No press release, please. 48 hours my foot!” he wrote on his Facebook page.
(PUNCH)
News
Court Remands Man Who Beat Wife In Viral Video
A 57-year-old sawmiller, Fatai Quadri, who was seen in a viral video assaulting his wife, 50-year-old Rukayat Quadri, was on Monday remanded at the Correctional Centre at Ijebu Ode till October 17 for further hearing into the suit instituted against him by the police before the Ijebu Ode Magistrate Court.
Quadri, according to documents made available to our correspondent on Tuesday during his arraignment, was charged with a count bordering on assault, domestic violence, and breach of peace, among others.
The charge sheet reads “That you Quadri Fatai Abiodun ‘m on the 15/09/2025 at about 0600hrs at No: 11, Bakare Street, Oke-Owa, Ijebu-Ode, Ogun State in the Ijebu-Ode Magisterial District did wilfully and unlawfully assault Mrs Rukayat Quadri 50yrs your wife, by beating her with a stick and several fist blow all over her body, which caused her bodily injuries and thereby committed an offence punishable under Section 355 of the criminal code, Vol.1, Laws of Ogun State of Nigeria, 2006.
“That you Quadri Fatai Abiodun “M’ on the same date, time and place in the aforementioned Magisterial District did unlawfully beat Mrs Rukayat Quadri 50yrs your wife and by so doing committed “Domestic Violence” an offence punishable under Section 21(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.
“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did unlawfully assault, beat and caused injuries to Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under section 4(1) of the Violence Against Persons Prohibition Law, Laws of Ogun State of Nigeria, 2017.
READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident
“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did intentionally intimidated, injured and threatened to the life of Mrs Rukayat Quadri 50yrs your wife not to go on the land you built 10 Rooms and Parlour Self Contains with Other Flats or otherwise and thereby committed an offence Punishable under Section 86 of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006.
“That you Quadri Fatai Abiodun ‘m’ on the same date, time and place in the aforementioned Magisterial District did willfully and unlawfully conduct yourself in a manner likely to cause the breach of public peace by using a stick with several fist blows to beat and injured Mrs Rukayat Quadri 50yrs your wife and thereby committed an offence punishable under Section 249(1) (d) of the Criminal Code Vol. 1, Laws of Ogun State of Nigeria, 2006”
Magistrate P O Odunsi has, however, adjourned the matter till October 17 for further hearing into the bail application of the suspect.
The Ogun State Police Command had on Saturday confirmed arresting Fatai seen in a viral video violently assaulting his wife, Rukayat, at their residence in Illese-Ijebu on the 15th of September, 2025.
Quadri, who was seen inflicting fist blows on the victim, resulting in bodily harm, was said to have been promptly apprehended by operatives of the Igbeba Divisional Police Headquarters, Ijebu Ode.
READ ALSO:Police Detain Lagos NURTW Leader For Killing Resident
The spokesperson of the state police command, Omolola Odutola, disclosed this in a statement sent to journalists on Saturday.
Odutola said that “Preliminary investigation revealed that the assault stemmed from a marital dispute arising from allegations of infidelity.
“The investigation further indicated that the suspect had transferred ownership of a 10-room en-suite apartment, jointly built with his wife, to another woman, which provoked the violent attack.
“The victim is presently receiving medical treatment, while the suspect remains in custody and will be charged in court upon conclusion of the investigation”
The Commissioner of Police, Lanre Ogunlowo, however, used the opportunity to reiterate the command’s zero tolerance for domestic violence and warned that anyone found culpable of such an act will face the full wrath of the law.
READ ALSO:
Speaking over the incident, the Commissioner for Justice and Attorney General of the state, Oluwasina Ogungbade, SAN described the incident as very reprehensible, saying that the government was unhappy with such criminal acts and that the suspect, who is already in police custody, would be taken to court on Monday.
Ogungbade explained that “the government is aware of the viral video and we condemn it in its totality. The suspect is in police custody already.
“The Commissioner of Police, Lanre Ogunlowo, has been very proactive concerning it.
“The matter is being transferred to the Gender Unit. He will be arraigned in Court on Monday”
The Attorney General said that the state government has always warned against all sorts of criminal acts, particularly gender-based violence and that this particular incident will be another opportunity to drive home the present administration’s posture of zero tolerance to such condemnable acts.
READ ALSO:Court Remands Tiktoker Who Claimed President Tinubu Died
The Commissioner for Women Affairs and Social Development, Adijat Adeleye, also said that she had already briefed one of the state officials to follow up on the incident, pledging that the government would ensure justice is served on the matter.
Adeleye said that “The government is not happy with such criminal acts, our position has always been zero tolerance to gender-based violence. Definitely, the suspect will account for his misdeeds, justice will be served, I assure the residents of the state.
“Already he has been picked up by the police and should be taken to court on Monday; the ministry officials will be there to lend our support and ensure that justice is served.”
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