Business
TVET: Benin Chamber Seeks Policy To Promote Private Sector Participation
The Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has called for the formation of a policy that would enhance private sector participation in Technical and Vocational Education and Training (TVET) in Edo State.
Mr Austin Atakpu, President, BENCCIMA, made the call at a meeting with representatives of the Edo State Board for Technical and Vocational Education and Training on Tuesday in Benin.
Atakpu said that the Organised Private Sector (OPS) was ready to support TVET when a policy that would allow them to make inputs was put in place.
READ ALSO: God Ordained Tinubu To Become President, Oba Of Benin Tells Nigerians
“TVET is a programme that covers skills acquisition; and in developing skills, you will require apprenticeship and internship.
“TVET can not run without the organised private sector. The OPS will house those programmes, give the necessary training and at the end of the day, ensure that the trainees stay through the programme.
“There must be a policy document to enhance such arrangement, and the OPS must have a buy-in.
“The government and the private sector must be willing to partner together, the OPS will only buy in if they contribute to the policy document,” he said.
READ ALSO: FG Slashes Wage By N100bn, Labour Kicks
On his part, Dr Terseer Nyulaku, Acting Executive Secretary, Edo Board for Technical and Vocational Education, said the meeting was to mobilise private sector participation and partnership in TVET.
He said, “we have come to mobilise private sector participation and partnership, and this is germane for any technical and vocational training to be useful.
“You need the private sector because they are the employers; they are the key social partner in the process.
“We have come to BENCCIMA to solicit for their partnership, especially as we plan to launch the Edo State Technical Talent Development Policy,” he said.
Business
CBN Retains Interest Rate At 27%
The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the benchmark interest rate at 27 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday following the apex bank’s 303rd MPC meeting in Abuja.
Cardoso stated that the committee also resolved to keep all other monetary policy indicators unchanged.
READ ALSO:CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
He noted that the Cash Reserve Ratio (CRR) remains at 45 per cent for commercial banks and 16 per cent for merchant banks, while the 75 per cent CRR on non-TSA public sector deposits was equally maintained.
Cardoso added that the Liquidity Ratio was retained at 30 per cent, and the Standing Facilities Corridor was adjusted to +50/-450 basis points around the Monetary Policy Rate.
The decision comes as Nigeria records its seventh consecutive month of declining inflation, which eased to 16.05 per cent in September 2025.
Business
CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
The Central Bank of Nigeria, CBN, has issued a definitive directive detailing how financial holding companies should calculate their minimum paid-up capital, following weeks of confusion that delayed the release of some banks’ half-year and nine-month financial statements.
In a circular dated November 14, 2025, the apex bank acknowledged “divergent interpretations” of the term minimum paid-up capital as stated in Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies.
To eliminate ambiguity, the CBN ruled that minimum paid-up capital must be computed strictly as the par value of issued shares plus any share premium arising from their issuance.
READ ALSO:CBN Sets POS Maximum Transactions In Fresh Guidelines
“All Financial Holding Companies are required to apply this definition in computing their minimum capital requirement—without exception for subsidiaries,” the circular stated.
The regulator added that the directive takes immediate effect, noting that any previous interpretation that does not align with the new clarification “should be discontinued forthwith.”
The move is expected to calm market anxiety and provide clarity for lenders navigating ongoing regulatory capital requirements.
Business
Naira Records Massive Week-on-week Depreciation Against US Dollar
The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.
This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.
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However, at the black market, currently battling with low patronage, it remained stable at N1,465, the same rate traded last week.
The development comes despite Nigeria’s foreign reserves rising by 1.25 per cent to $43.64 billion in the last week.
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