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CBN borrowing to FG hits N34.2trn in December 2025

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The Federal Government’s lending from the Central Bank of Nigeria (CBN) surged to N34.2 trillion in December 2025, marking the highest level recorded within the year.

This was revealed in the latest CBN Money and Credit Statistics report.

The figure represents a sharp increase from N26.3 trillion recorded in November 2025, signalling rising government dependence on central bank financing.

Additionally, the December 2025 borrowing exceeded the N27.1 trillion recorded in the same month of 2024, highlighting a significant year-on-year growth.

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What the data is saying

Government borrowing from the CBN reached N34.2 trillion in December 2025, the peak level for the year. This was a substantial rise from N26.3 trillion in November 2025, reflecting a steep month-on-month increase.

The December 2025 figure surpassed the N27.1 trillion recorded in December 2024, indicating a continued year-on-year rise in central bank financing.

•The surge reflects increasing fiscal pressures, growing expenditure obligations, and persistent revenue shortfalls towards the year-end.

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These developments have sparked concerns about fiscal sustainability and the inflationary risks associated with heavy borrowing from the apex bank.

The data demonstrates growing government reliance on Ways and Means Advances, a temporary funding mechanism provided by the CBN.

The Federal Government has long relied on CBN Ways and Means Advances to bridge funding gaps, especially during periods of revenue shortfalls and rising expenditure pressures.

Since the Petroleum Industry Act was enacted in 2021, the government has made efforts to stabilise public finances, including securitising portions of these advances to ease immediate fiscal pressures.

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However, sustained borrowing has raised concerns about compliance with statutory limits set under Section 38 of the CBN Act, which caps borrowing at 5% of the previous year’s actual revenue.

Despite initiatives to manage borrowing levels, the government’s dependence on central bank financing has often sparked debates about its potential impact on inflation, fiscal sustainability, and credit availability for the private sector.

In 2024, the government settled N7.3 trillion in Ways and Means Advances, signaling a commitment to reduce outstanding debt while pledging increased reliance on domestic resources.

What you should know

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A recent CBN report highlights positive external sector developments. Nigeria moved into a net lending position of $320 million in Q3 2025.

•This improvement was driven by a sharp rise in foreign direct investment (FDI) liabilities, which increased to $0.72 billion in Q3 2025 from $0.09 billion in Q2 2025, signalling stronger long-term investor confidence in the Nigerian economy.

•Conversely, portfolio investment inflows declined to $2.51 billion from $5.28 billion in the previous quarter, indicating a moderation of short-term capital while longer-term investments improved.

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Shettima @60: Speaker Abbas Hails VP’s Service, Loyalty to Tinubu

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By Gloria Ikibah

The Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas has congratulated Vice President Kashim Shettima on his 60th birthday, describing him as a dedicated public servant and a strong ally of President Bola Ahmed Tinubu.

In a congratulatory message issued on Wednesday by his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, Speaker Abbas praised Shettima for his commitment to democracy and public service.

The Speaker described the Vice President’s loyalty to President Tinubu as exemplary, saying his record in public office had prepared him for the responsibilities of his current position.

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Speaker Abbas eulogised Shettima as a leader of exceptional qualities and described him as one of the most patriotic Nigerians alive.

He also commended the Vice President for his contributions to the Tinubu administration, noting that his experience and achievements in previous public offices had continued to strengthen his performance as Vice President.

According to the Speaker, Shettima’s experience as governor of Borno State, senator and in other public positions had made him one of the most experienced public servants in government today.

The statement read: “The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, Ph.D., GCON, has extended his congratulations to the Vice President, Senator Kashim Shettima, GCON, on the occasion of his Diamond Jubilee, praising the VP’s steadfast commitment to democracy and devoted public service.”

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Speaker Abbas described Senator Shettima as a “reliable ally to President Bola Ahmed Tinubu, GCFR, praising his loyalty as exemplary and worthy of emulation.”

The Speaker further said Senator Shettima “continues to be one of the most patriotic Nigerians alive,” while highlighting his “invaluable contributions” to the Tinubu administration.

On the 2027 presidential election, Speaker Abbas expressed confidence in the APC ticket, following the decision by President Tinubu to retain Shettima as his running mate.

“With Senator Shettima returning as President Tinubu’s running mate in the 2027 presidential election, the ruling All Progressives Congress (APC) ticket is a winning one”, he said

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The Speaker also prayed for the Vice President’s continued good health and longevity.

He prayed to Allah (SWT) “to grant Senator Shettima mercy, grace, longevity, and good health so he can continue contributing value to the Tinubu administration and the nation as a whole.”

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PFIPC Probe: HoR Panel Clears Gbajabiamila, Says Evidence Shows He Acted Against Fake Agency

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The House of Representatives Ad Hoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has found no evidence linking Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, to the establishment or activities of the organisation.

Instead, the committee said its preliminary findings showed that Gbajabiamila acted to alert relevant security and investigative agencies and commenced administrative verification after concerns about the purported agency were brought to his attention.

The committee chairman, Yusuf Gagdi, disclosed this while presenting the panel’s preliminary findings at a press briefing on its investigation into the alleged inclusion of PFIPC in the Federal Government’s budget framework.

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According to the panel, the matter was first brought to Gbajabiamila’s attention following an alert from the Nigerian Investment Promotion Commission (NIPC) over suspected fraudulent activities and alleged misuse of government materials.

The committee said the Chief of Staff responded within a day by communicating with relevant security and investigative bodies, including the Nigeria Police Force, the Office of the National Security Adviser, the Department of State Services and the Economic and Financial Crimes Commission.

It added that Gbajabiamila also initiated administrative checks through relevant government institutions to establish the status of the purported organisation.

The panel said further concerns, including those surrounding a proposed world investment summit, prompted additional communications from the Chief of Staff seeking investigation and appropriate action.

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“The documentary evidence presently before the Committee does not establish that the Chief of Staff authorised, approved, established or participated in the activities of the purported organisation,” the committee said.

“On the contrary, the evidence demonstrates repeated steps to secure investigation, institutional verification and appropriate administrative action.”

Based on the evidence before it, the committee said it “preliminarily commends” Gbajabiamila for the security and administrative interventions he undertook whenever the matter was formally brought to his attention.

Alleged Fake Appointment Letter

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The committee also raised questions over a letter purportedly appointing Prince Adeniyi Adeyemi as Director-General of the PFIPC.

The document was allegedly presented as an official presidential appointment and purportedly carried the authority and signature of Gbajabiamila.

However, the panel said evidence obtained from the State House indicated that no such appointment was made or approved by the Presidency.

It said Gbajabiamila neither issued nor signed the letter.

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The committee further said the letterhead used in the document was not an authentic State House letterhead and that the purported reference number did not correspond with the official referencing system.

According to the panel, the format, language and other administrative features of the document also differed materially from established State House correspondence.

The committee therefore made a preliminary finding that the purported appointment letter was fabricated and falsely attributed to the Presidency.

‘Executive Order, National Assembly Act Were Not Genuine’

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The panel also said documents presented as a Presidential Executive Order and an Act of the National Assembly establishing the organisation were not authentic.

It said the purported Executive Order No. 5, dated February 24, 2026, was neither issued nor approved through the lawful processes of the Presidency.

Similarly, the committee said the document presented as an Act of the National Assembly was never passed by both chambers, was not assented to by the President and was not gazetted as an Act of the Federation.

It further alleged that portions of an instrument belonging to another institution appeared to have been electronically alter

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Wike Suspends FCDA Director Over Illegal Approvals On Abuja Waterways

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The Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has disclosed the suspension of a director of the Federal Capital Development Authority (FCDA) for allegedly granting illegal building approvals on waterways in Abuja.

Wike said the action was part of efforts by the FCT Administration to address recurring flooding in the nation’s capital, which he attributed partly to years of illegal construction on waterways and the impact of climate change.

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Speaking during a media chat in Port Harcourt, Rivers State, the minister said structures erected along waterways had obstructed natural drainage channels, worsening the flooding experienced in parts of Abuja during heavy rainfall.

“The floods in Abuja today are a result of people building on waterways in Abuja illegally over the years,” Wike said.

He added that the administration had moved against an official allegedly involved in facilitating illegal developments.

“We suspended a director in the FCDA according to the Civil Service rule who was illegally giving building approvals to build on waterways,” the FCT Minister said.

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Wike, however, noted that illegal construction was not the only factor responsible for the flooding, as climate change had also contributed to the recent situation.

“Climate change is also responsible for the flooding being experienced recently in Abuja,” he said.

The minister’s comments come amid growing concerns over flooding in several parts of the Federal Capital Territory following heavy rainfall.

The FCT Administration has, in recent months, intensified efforts to remove illegal structures and developments obstructing waterways and drainage channels as part of measures to reduce the risk of flooding in the capital.

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