Central Bank of Nigeria (CBN) is set to raise N700 billion through a Nigerian Treasury Bills auction scheduled for May 7, marking its first issuance for the month in line with its second-quarter borrowing plan.

Details from the tender notice, issued on behalf of the Debt Management Office (DMO), show that the offering will be split across three maturities using the Dutch auction system.

The apex bank plans to issue N100 billion in 91-day bills, N50 billion in 182-day bills, and N550 billion in 364-day bills, with the longer-tenor instrument expected to attract the strongest investor demand due to higher yields.

The auction forms part of the Federal Government’s broader domestic borrowing strategy aimed at managing liquidity and funding short-term obligations.

It also kicks off two planned NTB issuances for May, with another N650 billion auction scheduled later in the month.

Investor participation is expected to remain strong, supported by favourable system liquidity and sustained interest from institutional players such as pension fund managers and financial institutions.

Analysts say the auction outcome will offer key insights into yield direction and overall market sentiment as the second quarter progresses.

Recent activity in the Treasury bills market highlights the government’s aggressive borrowing pace.

In April alone, total allotments exceeded initial targets, signalling robust demand and the government’s willingness to take advantage of market conditions.

Access Bank has said that scammers are impersonating, Aigboje Aig-Imoukhuede, former group chairman, with fraudulent WhatsApp investment groups and warned Nigerians to avoid and report groups.

The fake WhatsApp investment groups masquerading under the name “Value Growth Club,” lure unsuspecting members of the public into investment schemes.

In a public disclaimer issued yesterday, the bank said the fraudsters were falsely presenting themselves as associates of Aig-Imoukhuede and linking his name to Gotham Capital in a calculated bid to lend credibility to the scam.

Access Bank said checks had confirmed that Aig-Imoukhuede has no affiliation whatsoever with the WhatsApp groups or any related investment platform, stressing that the respected banker neither created, endorsed, nor authorised any initiative known as “Value Growth Club.”

The lender emphatically stated that its former chairman was not involved in any WhatsApp-based investment competition, trading group, or financial initiative tied to Gotham Capital or any similar entity, and described the representations as false, misleading, and fraudulent.

It urged members of the public not to join the groups, or send money, or disclose personal or financial information to anyone claiming to be associated with the purported platform.

The bank also advised individuals who may have encountered the groups to exit immediately, report the accounts through appropriate channels, and ignore further contact from the operators.

The warning comes amid heightened regulatory concern over the proliferation of digital investment scams in Nigeria.

Earlier this year, the Securities and Exchange Commission (SEC) similarly flagged the Value Growth Platform, warning that the entity displayed characteristics consistent with a Ponzi-style operation.

The commission said the platform had portrayed itself as a sophisticated investment service offering market intelligence, portfolio guidance, and third-party trading services, but investigations showed that its claims were misleading and potentially unlawful.

John Nwabueze, chief executive officer, Tax Ombudsman, has assured Nigerians that complaints relating to taxes, levies, and regulatory charges will be resolved within 14 to 30 days.

John Nwabueze, chief executive officer, Tax Ombudsman,

Nwabueze made this known while addressing journalists at a breakfast meeting in Lagos, noting that the timeline is in line with the provisions of the Joint Revenue Board of Nigeria (Establishment) Act, 2025.

He explained that the Tax Ombudsman was established as an independent and impartial body to resolve disputes between taxpayers and tax authorities, while also safeguarding taxpayer rights and promoting fairness and transparency in tax administration.

“We will ensure we keep to that timeline of between 14 to 30 days that the law stipulates. We will work with all authorities concerned to dispose of complaints in a timely manner,” he said.

Nwabueze urged journalists to play an active role in educating the public on the functions of the Office of the Tax Ombud, particularly on how taxpayers can file complaints and obtain redress at no cost.

To enhance accessibility, he disclosed that the Office is set to launch a website and a toll-free call centre, aimed at making its services more reachable to Nigerians.

According to him, the establishment of the Office provides a new platform for citizens to actively engage in the nation’s economic development, while strengthening confidence in the tax system.

He noted that the initiative reflects Nigeria’s commitment to building a modern, people-focused tax system that balances revenue generation with justice and due process.

The Ombudsman added that a fair, responsive, and transparent tax system is critical to encouraging voluntary compliance and fostering public trust.

Nwabueze commended His Excellency, President Bola Tinubu, for leading a transformative tax reforms that are rooted in fairness, inclusiveness, and sustainability for revenue growth and economic prosperity adding that at the core of the reforms” lies a renewed social contract, one in which taxpayers are not passive partakers, but active partners in nation-building”.

Further, the Tax Ombud acknowledged Mr. Taiwo Oyedele, minister of Finance and Coordinating minister of the Economy, for his leadership in the reform process.

Nwabueze explained that his Office neither “determines tax liability, nor has it replaced the courts or the Tax Appeal Tribunal” but was rather established to ensure that tax administration is conducted in a fair, transparent, and accountable manner.

He added that beyond dispute resolution, the Office of the Tax Ombud plays a systemic role in identifying recurring issues in tax and revenue administration and recommending reforms to improve efficiency, fairness, and transparency.