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Cardoso applauds AU approval of Nigeria’s seat on African Monetary Institute board

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Akpo Ojo

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has applauded the decision of the African Union (AU) to grant Nigeria a permanent membership on the board of the African Monetary Institute (AMI).

The AMI, created under the AU’s financial institutions framework, is designed to serve as a transitional body ahead of the establishment of the African Central Bank (ACB), which is to be headquartered in Abuja.

Cardoso described the development as a major step forward for both Nigeria and the continent, noting that hosting the AMI and subsequently the ACB places Nigeria at the centre of Africa’s evolving monetary union project.

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He said the AU’s decision strengthens Nigeria’s influence in shaping the framework for Africa’s proposed single currency and deepens its role in continental financial governance.

“This historic decision represents a key milestone in Africa’s journey toward financial integration and reinforces Nigeria’s strategic importance in shaping the continent’s emerging financial architecture,” Cardoso said.

The CBN governor added that implementation of the decision would accelerate macroeconomic convergence, strengthen monetary cooperation among member states, and advance Africa’s long-term goal of financial sovereignty and economic integration.

At the summit, AU heads of state and government reaffirmed Nigeria’s standing representation on the AMI board throughout its transitional phase, pending the formal establishment of the African Central Bank.

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The CBN, alongside the Federal Ministries of Foreign Affairs, Justice, and Finance, played what Cardoso described as a pivotal role in securing the milestone.

Over the years, the apex bank led technical efforts that contributed to drafting the AMI Statute, which was approved at the Fifth Extraordinary Meeting of the Specialised Technical Committee on Finance in Abuja.

The CBN also provided initial hosting facilities and logistics to facilitate the institute’s take-off.

In addition, the apex bank worked closely with the federal government through inter-ministerial collaboration and sustained diplomatic engagement to advance Nigeria’s case at the highest political levels.

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Cardoso attributed the achievement to ongoing structural reforms and strengthened macroeconomic management, including improvements in monetary stability, external reserves management, banking supervision, and payment system modernisation.

He said these measures have enhanced Nigeria’s credibility and standing across the continent.

“We will continue to work with the African Union Commission, the Association of African Central Banks, member states, and development partners to lay a solid foundation for the African Central Bank and the future African Single Currency,” he stated.

The permanent seat allocated to Nigeria is limited to the AMI’s transitional period and includes a sunset clause that takes effect upon the establishment of the ACB.

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The arrangement, according to officials, aligns with AU principles of rotation, equity, and regional balance, while ensuring continuity during the institute’s formative phase.

Cardoso also expressed appreciation to President Bola Tinubu and Vice President Kashim Shettima for their support and strategic leadership, describing the development as a significant achievement not only for Nigeria but for Africa’s broader integration and monetary ambitions.

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Sad: Gunmen kill Miyetti Allah chairman two sons

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Two sons of the South-East Zonal Chairman of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Alhaji Haruna Sale, have been killed after gunmen attacked a cattle settlement in Oheoyya Community, Ezeagu Local Government Area of Enugu State.

The attackers also reportedly slaughtered about 40 cattle belonging to members of the association during the incident.

The attack was said to have happened at about 5:00 p.m. on Saturday, July 25, 2026, when armed men invaded the settlement and opened fire on the residents.

The victims were identified as Ahmadu and Umaru, who were both sons of the MACBAN zonal chairman.

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In a statement issued by the association’s National Deputy Director-General, Gidado Siddiki, MACBAN said the attackers carried out the assault before killing dozens of cattle kept at the settlement.

The group described the incident as a painful attack on citizens involved in lawful livestock business.

The association said security personnel later found the bodies of the two victims in a nearby forest.

Their remains were recovered and handed over to their families, who buried them according to Islamic rites.

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MACBAN thanked the Enugu State Government and security agencies for responding after the attack and assisting in recovering the bodies.

However, it called for a full investigation into the incident and urged authorities to arrest and prosecute those responsible.

The association also stated that its members across the South-East are engaged in legal cattle breeding, rearing and trading activities and deserve the same protection as every other Nigerian.

It appealed to residents of Enugu State to continue supporting peaceful relations between herders and host communities, saying cooperation remains necessary for peace and economic activities.

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MACBAN also restated its commitment to obeying the law and working with governments, host communities and security agencies to promote peace, improve security and strengthen unity across the country.

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Doctors Perform First Successful Manhood Transplant on 43-Year-Old Man

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A team of doctors in Vietnam has successfully performed the country’s first penis transplant, marking a major milestone in reconstructive and transplant surgery.

The recipient, a 43-year-old man, underwent the groundbreaking procedure at Hanoi’s Viet Duc Friendship Hospital after losing most of his penis during a partial penectomy performed four years ago.

According to the medical team, the patient was selected for the transplant after undergoing extensive medical, psychological, immunological and ethical assessments, which confirmed he was a suitable candidate for the rare procedure.

A penectomy is the partial or complete surgical removal of the penis, commonly performed to treat penile cancer or, in some cases, as part of gender-affirming surgery.

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Associate Professor Dr. Nguyen Quang, Director of the hospital’s Andrology Centre, explained that the complex operation involved reconstructing the penis while reconnecting delicate blood vessels and nerves using advanced microsurgical techniques.

“In this transplant procedure, we reconstructed the anatomical structures of the penis, including the urethra, corpus spongiosum and corpora cavernosa, while simultaneously performing microsurgical anastomosis of minute arteries, veins and nerves,” he said.
He noted that combining reconstructive and microsurgical techniques required exceptional precision to ensure the transplanted organ remained viable and functional.

Doctors said the patient is recovering well, with no early complications recorded. The transplanted organ is healing as expected, and the patient is responding positively to anti-rejection medication.

Before the transplant, the patient had been able to urinate normally following his earlier surgery. However, only a very small portion of his penis remained, leaving him with significant psychological distress that negatively affected his quality of life and mental wellbeing.

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Medical experts cautioned that it will take time to determine whether sensation, erectile function and long-term urinary function are fully restored. The patient will also continue to undergo close monitoring for any signs of organ rejection.

Hospital Director Dr. Duong Duc Hung described the procedure as Vietnam’s first penile transplant using an organ donated by a brain-dead patient.

He said the surgical team spent months preparing for the operation, studying international medical experience and coordinating specialists from multiple disciplines before carrying out the complex transplant.

According to international medical literature, only five successful penile transplants had been reported worldwide before the Vietnamese operation, making the procedure one of the rarest and most advanced reconstructive transplant surgeries ever performed.

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Oyedele mourns ex-Finance minister, Alhaji Abubakar Alhaji

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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele; the Permanent Secretary, Finance, Mr. Raymond Omachi; the Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma; and the management and staff of the Federal Ministry of Finance have received with deep sadness news of the passing of former Minister of Finance, Alhaji Abubakar Alhaj.

Describing his death as a great loss to the nation, Mr. Oyedele said the late elder statesman devoted his life to public service, distinguishing his career with integrity, discipline, and sound judgement, and leaving a lasting imprint on Nigeria’s economic management and national development.

Beyond his stewardship of the nation’s finances, Mr. Oyedele noted, Alhaji Abubakar Alhaji also served Nigeria with distinction as High Commissioner to the United Kingdom, and was held in high esteem in traditional leadership as the Sardaunan Sokoto, a record of service and leadership that earned him respect across the country.

Mr. Oyedele said his legacy extends well beyond the offices he held, describing him as a thoughtful leader whose experience, wisdom, and commitment to the public good continue to inspire generations of public servants long after he left active service. He added that the late former Minister played an important role in strengthening Nigeria’s public finance architecture and institutions, a legacy that will continue to resonate within the Federal Ministry of Finance and across the public service.

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The Honourable Minister extended his heartfelt condolences to the family of the deceased; the Governor and Government of Sokoto State; the Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar III; the Sultanate Council; and the people of Sokoto State.

He prayed that Almighty Allah forgives the shortcomings of the late Alhaji Abubakar Alhaji, grants him Aljannatul Firdaus, and grants his family and all who mourn him the strength and fortitude to bear this irreparable loss.

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