Economy
FG declares joyful Eid ul Adha public holidays in Nigeria
Eid ul Adha public holidays Nigeria: FG declares Wednesday and Thursday as holidays, urging prayers, reflection, and national unity
The Federal Government of Nigeria has declared Wednesday, 27 May 2026, and Thursday, 28 May 2026, as public holidays to mark the celebration of Eid ul Adha across the country.
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The announcement was made by the Minister of Interior, Olubunmi Tunji-Ojo, through a statement signed by the Permanent Secretary of the Ministry, Magdalene Ajani, in Abuja on Monday, 25 May 2026.
The declaration reflects the government’s recognition of the religious significance of Eid ul Adha, a major Islamic festival observed by Muslims in Nigeria and across the world in commemoration of sacrifice, obedience, and devotion.
According to the statement, Olubunmi Tunji-Ojo extended the Federal Government’s felicitations to Muslim faithful in Nigeria and in the diaspora, describing the festival as one rooted in compassion, faith, and obedience to God.
The Eid ul Adha public holidays Nigeria announcement also urged citizens to use the period for prayer and sober reflection, while seeking divine guidance for the continued peace, security, and prosperity of the nation.
The minister further emphasised that the celebration should reinforce national unity and shared humanity, calling for a spirit of brotherhood among Nigerians during the festive period.
Also read: Eid-El-Fitr: FG Declares Wednesday, Thursday As Public Holidays
He added that the government remains committed to fostering harmony and ensuring that citizens of all faiths are able to celebrate their religious observances in peace and safety.
Cash outside Nigerian banks rose to N4.92tn in September 2026 as Nigeria’s broad money supply increased to N146.6tn, CBN data show
Cash outside Nigerian banks rose to N4.92tn in September 2026, an increase of N48.73bn from the N4.87tn recorded in August, according to monetary data published by the Central Bank of Nigeria.
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The latest figures also showed an expansion in Nigeria’s broad money supply, which increased to N146.6tn in September from N139.09tn in the previous month.
The growth represents an increase of N7.51tn within one month, reflecting a broader expansion in the amount of money circulating across the economy.
The CBN data further showed that narrow money, which consists of currency in circulation and highly liquid deposits, rose to N44.05tn in September from N43.11tn in August.
Cash held outside banks refers to physical currency kept by individuals and businesses rather than within the banking system.
Broad money, by contrast, covers a wider range of monetary assets, including cash, demand deposits, savings and time deposits, as well as foreign currency deposits.
Nigeria’s broad money supply increased by 18.3 per cent between January and September, rising from N123.95tn to N146.6tn, the data indicated.
The latest increase followed the CBN’s decision in September to reduce its benchmark interest rate by 350 basis points, bringing it down from 26.5 per cent to 23 per cent.
The reduction was reported as the largest cut in the benchmark rate since December 2006.
Despite the rate cut, the Monetary Policy Committee retained the Cash Reserve Requirement for commercial banks at 45 per cent and merchant banks at 16 per cent.
The committee also maintained the 75 per cent reserve requirement on non-Treasury Single Account public-sector deposits.
The Cash Reserve Requirement determines the proportion of eligible deposits that banks must hold as reserves with the central bank.
It is one of the monetary policy tools used to influence banking-sector liquidity and credit conditions.
The rise in cash outside Nigerian banks formed part of the broader increase in money supply.
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However, the figures alone do not establish why households and businesses held more physical cash or how much of the increase was driven by spending, savings behaviour or other economic factors.
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