The Managing Director and CEO of Ultimate Health Management Services, Otunba Lekan Ewenla, has called for a nationwide awareness campaign to ensure private-sector compliance with the Federal Government’s directive mandating employers with at least five staff to enrol their workers in health insurance programs.
Ewenla urged stronger collaboration between Health Maintenance Organisations (HMOs) and the Nigeria Employers’ Consultative Association (NECA) to drive public enlightenment, stressing that companies must understand both the benefits and obligations of the policy. He said HMOs, as key drivers of health insurance, should work closely with the National Health Insurance Authority and NECA to deepen awareness and secure systematic compliance.
He explained that employers are already legally responsible for the medical needs of their staff, and compliance with the directive does not require additional spending. Firms simply need to convert the medical allowances currently paid to employees into health insurance premiums. “The standard configuration of the payroll includes a certain percentage of the basic salary as medical allowance along with other benefits like housing, transportation, and utility,” he said.
Ewenla recalled that during the rollout of the public-sector health insurance scheme in 2005, the Federal Government converted 10 percent of civil servants’ basic salaries, previously paid as medical allowances, into health insurance premiums. He argued that the same approach applies to private-sector firms, noting that “compliance with the directive does not have to lead to spending more on medicals for staff, as whatever any company is paying as medical allowance is what is expected to be converted to health insurance premium.”
He added that the mandatory-enrolment directive also aims to create a unified national database of enrollees linked to their National Identification Numbers, improving planning and accountability. Ewenla expressed optimism that increased health insurance enrolment would help curb the migration of medical professionals abroad, as higher subscriber numbers would boost financial inflows into the health sector and improve healthcare infrastructure.
“We will see many doctors and nurses returning to take up appointments. Healthcare facility operators will pay better because, like every business, healthcare thrives on the volume of patronage,” he said.
The National Insurance Commission (NAICOM) has partnered with the Ministry of Interior to address bottlenecks in travel insurance and related matters in Nigeria. The agreement, signed during a courtesy visit by NAICOM’s Commissioner for Insurance, Olusegun Ayo Omosehin, to Interior Minister Dr. Olubunmi Tunji-Ojo in Abuja, aims to reduce the financial burden on taxpayers while enhancing economic stability.
A key focus of the partnership is mitigating repatriation costs, particularly for individuals entering Nigeria on short-stay visas. Government agencies noted that billions of naira are spent annually on repatriation, and agreed that travel insurance could transfer some of these costs to insurance companies, creating a more efficient and cost-effective system.
Both parties also agreed to establish a technical working group to explore a comprehensive travel and repatriation insurance policy. The group will develop a centralised material management system, facilitate inter-agency data synchronisation, and oversee implementation to ensure a successful rollout.
NAICOM reaffirmed its commitment to monitoring insurance operators through a robust solvency control and intervention framework to safeguard financial stability and protect consumer interests. The initiative also includes enhancing data verification processes, with the National Identity Management Commission (NIMC) providing a single-source verification system to reduce fraud and improve efficiency in the insurance sector.
This collaboration marks a significant step toward streamlining travel insurance in Nigeria, easing costs for citizens, and strengthening regulatory oversight in the sector.
The United States Citizenship and Immigration Services (USCIS) has issued an official update announcing revised immigration fees scheduled to take effect from January 1, 2026, in line with the annual inflation adjustment required under H.R. 1.
The new fee structure reflects inflation measured between July 2024 and July 2025 and is part of the yearly update mandated by H.R. 1, which requires the Department of Homeland Security (DHS) to revise several immigration-related charges at the start of every fiscal cycle.
USCIS confirmed that the adjustments will now recur automatically each year beginning FY 2026. The agency emphasised that any application postmarked on or after January 1 must include the updated fee amount or risk being rejected, potentially delaying work permits, asylum filings and TPS renewals.
Breakdown of Updated Fees
The revised charges affect categories relating to Employment Authorization Documents (EAD), Temporary Protected Status (TPS) filings, parole-based applications and asylum-related processes — though the asylum application fee remains frozen due to an ongoing court injunction.
Asylum-related updates include:
Annual Asylum Application Fee: from $100 to $102 (still on hold by court order).
Initial EAD for asylum applicants: from $550 to $560.
Parole-related EAD fee adjustments:
First-time parole EAD: $550 → $560
Parole EAD renewal/extension: $275 → $280
Form I-131 (Part 9) for re-parole EAD: $275 → $280
Temporary Protected Status (TPS) adjustments:
Initial TPS EAD: $550 → $560
TPS renewal or extension EAD: $275 → $280
Form I-821 TPS application: $500 → $510
Fees Remaining Unchanged
Despite inflation updates, several costs have been left untouched for the 2026 cycle:
Form I-589 Asylum Fee: $100
Asylum-based EAD renewal/extension: $275
Form I-360 Special Immigrant Juvenile Fee: $250
The agency noted that DHS will issue a separate document later outlining future adjustments to the parole fee structure.
USCIS warned applicants, attorneys and filing assistants to double-check the revised amounts to prevent delays, especially for individuals relying on time-sensitive applications such as work authorizations, TPS benefits and asylum-linked documentation.
Nigeria’s foreign exchange market saw renewed momentum on Thursday as the naira advanced against the US dollar, driven largely by a wave of dollar sell-offs from offshore investors repositioning into naira-denominated fixed-income instruments.
Analysts monitoring the market said the improvement in the official exchange window was further boosted by a fresh $50 million liquidity intervention from the Central Bank of Nigeria (CBN), introduced to ease pressure after days of sustained currency depreciation.
According to data published by the CBN, the spot exchange rate appreciated by 14 basis points, gaining ₦2.05 to close at ₦1,452.1342/$. During the session, the local currency traded between ₦1,459.99/$ and ₦1,450.00/$, reflecting increased supply conditions.
Foreign exchange dealers noted that the uptick was a direct outcome of the central bank’s injection, which pushed market supply above existing demand, reversing the losses recorded earlier in the week when dollar shortages triggered back-to-back declines.
Meanwhile, the CBN’s latest figures show Nigeria’s external reserves climbed by $71.1 million, rising to $44.1 billion as of November 19, 2025. Market strategists believe this strengthened reserve position will help guide the naira’s performance in the coming sessions, particularly as liquidity levels stabilise.
On the global energy front, crude oil prices dipped following reports that the U.S. administration under President Donald Trump intensified efforts to pressure Ukraine into accepting a peace deal with Russia, aimed at ending the three-year conflict.
Brent crude rose 32 cents (0.51%) to $63.32 per barrel, while U.S. West Texas Intermediate (WTI) slid 30 cents (0.51%) to $58.95 as traders assessed the geopolitical implications for energy supply.
Gold prices also weakened as markets processed stronger-than-expected U.S. jobs data for September, which lowered expectations of a potential Federal Reserve rate cut in December. Spot gold slipped 0.63% to $4,055.91/oz, while U.S. gold futures edged down 0.19% to $4,075.11/oz.
Investors are expected to trade cautiously heading into Friday, with sentiment tilted toward safe-haven assets amid ongoing geopolitical uncertainties.
The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi, has called on officers and men of the Service to uphold the highest standards of integrity as the organisation intensifies reforms to enhance trade facilitation and regional cooperation.
Adeniyi made the call on Thursday in Abuja at the opening of the 2025 Comptroller-General of Customs (CGC) Conference themed “Building Future Partnerships: Lessons from Customs – Partnership for African Cooperation in Trade (PACT)”.
The conference, which spans two days, is designed to consolidate the gains of the recently concluded Customs–PACT (C-PACT) Conference jointly convened by the NCS and Afreximbank, with support from the World Customs Organisation (WCO), to reposition African trade within the framework of the African Continental Free Trade Area (AfCFTA).
In his address, the CGC emphasized that professional conduct, regulatory compliance, and operational integrity must remain the foundation of Customs operations across all commands.
“You cannot sustain external credibility without internal integrity,” he said. “This conference is turning the mirror on ourselves — not to criticise, but to honestly assess where we stand, recognise what is not working, and collectively commit to fixing it.”
Adeniyi noted that while the Service has made strides in policy reforms and revenue generation, internal inconsistencies threaten its ability to achieve full institutional excellence. He identified gaps in coordination, technology utilisation, knowledge management and communication—issues he said must be addressed to strengthen the NCS’s transition from a “good” administration to a “great” one.
“We have technology that works brilliantly in one location but remains unused elsewhere. We have officers with innovative ideas but no channels to express them. We lose institutional knowledge when seasoned officers retire without their experience properly documented,” he said.
He emphasised that the CGC Conference aims to embed the successful principles that guided the C-PACT conference—including disciplined execution, unified messaging and effective coordination—into daily Customs operations nationwide.
Over the two days, participants will deliberate on strengthening institutional cohesion, enhancing capacity for implementing modernisation tools and innovations, and aligning operations with WCO standards and policy frameworks.
Adeniyi also expressed concern that some reforms initiated by previous administrations were abandoned once leadership changed, urging officers to treat such initiatives as institutional rather than personal legacies.
He encouraged participants to propose realistic and sustainable solutions to operational challenges, warning that the Service cannot effectively fulfil its national mandate if gaps in coordination and capacity persist.
Despite the internal challenges, Adeniyi affirmed that the NCS has continued to record significant progress, including consistently meeting—and exceeding—its revenue targets in recent years, with strong performance already reflected in its 2025 projections.
The Nigeria Customs Service (NCS), Kirikiri Lighter Terminal (KLT) Command, held a strategic engagement with operators in the oil and gas sector on Tuesday,as part of efforts to strengthen regulatory compliance and improve efficiency in vessel and jetty operations within its area of responsibility.
According to a press statement issued by the Chief Superintendent of Customs, Victor Ogagbor, the Public Relations Officer of the command, on 21st November, 2025, the Customs Area Controller, Comptroller E.J. Edelduok, described the oil and gas industry as a central pillar of Nigeria’s revenue base and energy stability.
She stressed the importance of transparent documentation, accurate product accountability, and timely Customs processes in ensuring the smooth discharge, storage and evacuation of petroleum products.
Edelduok urged operators to raise operational concerns without hesitation, assuring them of the Command’s readiness to refine procedures in line with ease-of-doing-business reforms while safeguarding government revenue.
Superintendent of Customs Emmanuel Okoka, Officer-in-Charge of Boarding, highlighted statutory requirements guiding vessel movement into the country. He explained that all foreign vessels calling Nigeria for the first time must berth at a government jetty for mandatory Customs clearance before proceeding to private terminals. The process, he said, is essential for compliance checks, national security reinforcement and revenue protection.
Discussions during the session focused on vessel scheduling, discharge timelines and the transfer of petroleum products to storage facilities. Stakeholders commended the Command for sustaining open engagement and recommended the issuance of a formal circular to streamline berthing procedures.
Comptroller Edelduok concluded by reaffirming the Command’s commitment to transparency, improved accountability, and continued collaboration with industry operators to ensure seamless petroleum product operations along the KLT corridor.
The Nigerian Copyright Commission (NCC) has ordered the suspension of several .ng domain names implicated in the widespread, unauthorised distribution of copyrighted music, films, and other creative works.
The enforcement action, undertaken in collaboration with the Nigerian Internet Registration Association (NiRA), followed a formal complaint by the International Federation of the Phonographic Industry (IFPI). The affected domains—now taken offline by their respective registrars—include val9ja.com.ng, tunesloaded.com.ng, voxnaija.com.ng, music.360media.com.ng, medianub.com.ng, naijalevels.com.ng, and mp3juice.com.ng.
According to the NCC’s Special Taskforce Against Online Piracy (STOP), investigations confirmed that the platforms were “blatantly infringing copyright” by illegally sharing unlicensed music and audiovisual content belonging to Nigerian and international rights holders. The Commission noted that the illegal distribution significantly undermined legitimate digital platforms and deprived creators and investors of revenue.
In a statement issued to The Guardian, the NCC said the intervention forms part of its strengthened enforcement efforts under the Copyright Act, 2022, which empowers the Commission to curb copyright violations across websites, streaming outlets and other online distribution channels.
“The NCC worked closely with NiRA throughout the process and continues to engage domain registrars to ensure swift suspension of any .ng domain found to be in breach of copyright law,” the statement read.
Reaffirming the Commission’s resolve, NCC Director-General, Dr John Asein, said the latest suspensions send a strong message that Nigeria will not tolerate digital piracy. He thanked NiRA and the concerned registrars, assuring rights holders that the Commission—working with national and international partners—will continue to strengthen its anti-piracy framework.
Asein also urged members of the public to report suspicious platforms or online copyright violations via stop.copyright.gov.ng.
“The Nigerian Copyright Commission remains vigilant and fully prepared to take decisive action against all forms of copyright infringement to safeguard Nigeria’s creative space and its digital future,” he said.
The NCC’s crackdown forms part of a renewed campaign targeting online piracy. In a similar action facilitated by NiRA, the Commission recently secured the suspension of MovieBox.ng, a website known for streaming pirated films, music and live sports content sourced from within and outside Nigeria.
Debate intensified in Washington on Thursday as the United States House Foreign Affairs Subcommittee on Africa held a public hearing on President Donald Trump’s decision to redesignate Nigeria as a Country of Particular Concern (CPC) over alleged widespread persecution of Christians.
The hearing, chaired by Congressman Chris Smith, exposed deep divisions among lawmakers, religious leaders, and senior officials of the US Department of State, who offered sharply contrasting views on the scale and drivers of violence in Nigeria and the appropriate US response.
President Trump’s redesignation, announced earlier in the week, was accompanied by a controversial threat that the US military would intervene in Nigeria “guns-a-blazing” to eliminate Islamic extremists accused of atrocities against Christian communities.
US Officials Questioned Over Rising Violence
Appearing before the panel were Jonathan Pratt, Senior Bureau Official for African Affairs, and Jacob McGee, Deputy Assistant Secretary in the Bureau of Democracy, Human Rights, and Labour. Both faced intense questioning from lawmakers seeking clarity on the administration’s policy direction.
Pratt expressed concern over the spread of extremist violence beyond Nigeria’s North-East, citing Boko Haram, ISIS-West Africa, Ansaru and other armed groups as major drivers of insecurity. He said the Middle Belt had become a major flashpoint, with Christian communities frequently targeted.
“Terrorists, separatists, bandits and criminal militias are active across the country,” he said. “More must be done to protect vulnerable communities and bring perpetrators to justice.”
Pratt disclosed that a comprehensive plan was being developed to press the Nigerian government to prioritise Christian protection and improve religious freedom. The plan, he said, would involve coordinated action from the State Department, Treasury and potentially the Department of War.
Lawmakers Split on Motive and Responsibility
Rep. Chris Smith cited figures claiming that 89 per cent of Christians martyred globally were killed in Nigeria, accusing militant Fulani herders and jihadist groups of operating with “total impunity”. He blamed the previous US administration for removing Nigeria from the CPC list against expert advice.
Michigan lawmaker John James described Nigeria as “the deadliest place on earth to be a Christian”, accusing the Nigerian government of selective enforcement of the law and referencing the continued detention of separatist leader Nnamdi Kanu despite court rulings.
He pressed US officials on Nigeria’s response to the redesignation. Pratt confirmed that Abuja had “taken the designation very seriously”, noting that a senior Nigerian delegation was already in Washington for high-level meetings.
Congressman Bill Huizenga criticised what he called the Nigerian government’s inadequate response to Islamist attacks, accusing both US lawmakers and international media of downplaying religious-related killings. He questioned the effectiveness of US humanitarian support, especially in Benue State, where he said 1.4 million people were displaced.
Another representative, Johnny Olszewski, however urged caution against framing the crisis solely as religious persecution. He acknowledged the scale of Christian suffering but argued that Nigeria’s principal challenge was “a capacity problem, not institutional intent”. He stressed that both Muslims and Christians were victims of extremist violence.
Concerns Over US Rhetoric and Legality of Military Action
Representative Pramila Jayapal challenged the “oversimplification” of the crisis as purely religious, warning that such framing distorted the underlying causes and risked escalating tensions. She criticised President Trump’s threat of military intervention, asking US officials to clarify the legal basis for any potential strikes in Nigeria.
Jayapal warned that unilateral military action would violate international law and jeopardise critical US-funded health programmes in Nigeria.
Her concerns were echoed by Congresswoman Sara Jacobs, who described Trump’s rhetoric as “reckless”, saying it risked inflaming Christian-Muslim relations and worsening civilian harm. “Problems created by men with guns cannot be solved by turning to men with guns,” she added.
Bishop Anagbe Warns of ‘Near-Extinction’ of Christianity in Parts of Nigeria
In one of the most emotional submissions, Bishop Wilfred Anagbe of Makurdi Catholic Diocese warned that Christianity faced the threat of extinction in parts of Nigeria’s North and Middle Belt due to persistent attacks, displacement and alleged government inaction.
He described a series of deadly attacks, including the killing of several relatives in his hometown and the attempted assassination of a priest, Father Solomon Atongo. He referenced the June massacre in Yelwata, Benue State, where he said 278 people were killed.
“The government’s silence has deepened feelings of abandonment,” he said, urging targeted sanctions, stronger humanitarian assistance and the passage of the proposed Nigerian Religious Freedom and Accountability Act.
He thanked President Trump for the CPC designation but emphasised that “words must be followed by concrete action”.
A Divided Congress, An Unsettled Future
Thursday’s hearing highlighted an increasingly polarised US Congress, with some lawmakers insisting that Nigerian Christians face genocidal-level persecution, while others argued that the crisis is multifaceted, rooted in governance failures, corruption, weak security institutions and resource-based conflict.
What remained clear, however, is that Washington is recalibrating its engagement with Abuja. As Pratt noted, “Nigeria is a key partner, but the government must deliver results on the ground.”
The subcommittee said it will continue reviewing policy options, including sanctions, enhanced security cooperation, development support and diplomatic engagement.
Nigeria’s money market saw a decline in funding costs this week even as the Central Bank of Nigeria (CBN) conducted a series of aggressive open market operations (OMO) to manage excess liquidity in the financial system.
The central bank intensified its liquidity management approach after previous OMO maturities significantly expanded banking system liquidity. Despite this, short-term interest rates remained largely unshaken, signalling robust liquidity conditions.
Market data indicated that the financial system opened Thursday with a surplus balance of ₦2.7 trillion, an increase of ₦220.2 billion from the previous session. Deposit Money Banks (DMBs) also maintained strong activity at the CBN’s Standard Deposit Facility (SDF), posting placements worth ₦1.5 trillion, according to AIICO Capital Limited.
The CBN absorbed ₦3 trillion through an OMO auction earlier in the week and followed up with another auction on Wednesday, allotting ₦909.4 billion across 174- and 188-day maturities.
Despite these liquidity-tightening measures, the average funding rate slipped by 14 basis points. The Open Repo Rate (OPR) declined by 10 bps to 24.50%, while the Overnight Rate (O/N) dropped 18 bps to 24.92%.
Analysts expect funding costs to rise gradually in the coming sessions as OMO and treasury bill settlements drain liquidity. However, they note that the expected inflow of ₦689.5 billion from maturing treasury bills could provide temporary relief.
In the secondary market, treasury bill yields recorded mixed movement as investor focus shifted toward the midweek primary auction.
The Nigerian equities market closed Thursday’s session in the red as investor portfolios on the Nigerian Exchange (NGX) declined by approximately N292 billion, driven by significant sell-offs in Wema Bank, Oando, and several other tickers.
Weak sentiment dominated throughout the day, pulling major performance indicators lower by 0.32%. The All-Share Index dipped by 458.98 points to settle at 144,187.03, while the overall market capitalisation fell to ₦91.71 trillion after shedding ₦291.93 billion in value.
The downtrend was primarily influenced by price declines in WEMABANK, TANTALIZER, OANDO, IKEJAHOTEL, MAYBAKER, and others. Several block transactions were also executed off-market, adding to the quiet mood across the bourse.
Activity levels fell sharply, as trading volume slumped 60.87% to 349.29 million units, while turnover value dropped 60.51% to ₦9.30 billion. The number of executed deals also shrank by 7.28% to 18,753. Analysts noted that the decline largely reflected a slowdown in institutional trading activity, with retail investors also maintaining a cautious stance amid heightened risk aversion.
FIDELITYBK led the volume chart, contributing 15.73% of total market turnover. It was followed by FCMB (8.80%), TANTALIZER (8.62%), GTCO (7.44%), and ACCESSCORP (5.20%).
GTCO dominated the value chart, accounting for 23.27% of the day’s total transaction value. On the gainers’ table, NCR led with a 10% rise, followed by ROYALEX (+7.57%), CILEASING (+6.00%), LIVINGTRUST (+3.87%), RTBRISCOE (+3.55%), UNIVINSURE (+2.56%), and several others.
Meanwhile, thirty-eight stocks recorded losses. OMATEK and NEIMETH topped the laggards after dropping 10% each. They were followed by TANTALIZER (-9.75%), INTENEGINS (-9.62%), WEMABANK (-8.63%), IKEJAHOTEL (-7.32%), and OANDO (-5.59%).
Market breadth closed negative with 14 gainers against 38 losers. Sectoral performance was broadly weak: Insurance declined the most at -3.82%, while Banking (-1.06%), Oil & Gas (-0.40%), Consumer Goods (-0.32%), and Industrial (-0.01%) also closed lower. The Commodity sector remained unchanged.
The naira recorded a rebound against the US dollar in Nigeria’s foreign exchange market after the Central Bank of Nigeria (CBN) released $50 million to authorised dealer banks in a move aimed at improving liquidity conditions.
Before the intervention, the local currency had faced renewed pressure as dollar demand continued to outpace available supply. Following the fresh FX injection, sentiment in the market improved, pushing the naira 0.14% higher to ₦1,452.13/$ at the official window, while the parallel market saw a 0.32% appreciation to ₦1,469/$.
Latest trading figures from the CBN revealed that the spot exchange rate hit an intraday high of ₦1,459.99 per dollar at the official window, slightly better than the ₦1,460.50 recorded in the previous session.
Throughout the day, the naira traded between an intraday low of ₦1,450 and a high of ₦1,499.99 before eventually settling at ₦1,459.95 per dollar. Meanwhile, the US Dollar Index climbed by roughly 0.65%—its strongest daily gain since September—and closed above the 200-day moving average for the first time since early March.
In the broader global currency market, the dollar posted modest gains against major G10 currencies as the North American trading session progressed, although the momentum from yesterday’s rally appeared limited.
Crude oil markets also showed signs of recovery. Light crude futures edged higher on Thursday after a steep drop in the previous session pushed prices into a key retracement zone between $59.23 and $58.44. The main bottom at $58.07 helped stabilise prices, offering traders a strong technical support level following Wednesday’s sharp sell-off. The rebound came amid efforts by the global oil market to regain balance after a 2.1% decline linked to geopolitical uncertainties.
The House of Representatives Ad Hoc Committee overseeing the Naira-for-Crude Oil Policy has directed all involved parties to submit their previously requested documents no later than November 27.
Committee Chairman, Rep. Boniface Emerengwa (PDP–Rivers), announced the order during an abridged sitting on Thursday in Abuja after several stakeholders failed to provide documents or appear before the committee as instructed.
He stated that the investigative session slated for November 20, 2025, had to be postponed due to what he described as “gross negligence and a lack of seriousness” by stakeholders linked to the policy.
Emerengwa criticised the failure to comply, noting that despite sufficient advance notice, most stakeholders disregarded the vital oversight role of the legislature by failing to submit required materials within the given timeframe.
According to him, such conduct undermines the integrity of the committee’s work and reflects poorly on a matter of significant national importance.
He said, “This behaviour constitutes a direct disregard for the legislative process and an insult to the Nigerian citizens whom we are mandated to defend. The delay in submission has obstructed our ability to carry out due diligence and has slowed the pace of the investigation.”
The chairman explained that the new deadline is the final opportunity for stakeholders to show their commitment to transparency and cooperation.
The investigative hearing has now been rescheduled for December 2, 2025, at 12:00 noon in Conference Room 440, with Emerengwa stressing that the new date is final and cannot be changed.
He warned that non-compliance will attract strict punitive measures, including subpoenas, public disclosure of defaulters, recommendations for sanctions, and escalation to the House plenary for further action.
He reiterated that the committee was established to ensure accountability and proper oversight of a policy that holds major implications for Nigeria’s economic stability and development.
Stakeholders were urged to honour the new deadline and prepare for the rescheduled hearing.
The Federal High Court in Abuja on Thursday issued a life imprisonment ruling on Nnamdi Kanu, the leader of the banned Indigenous People of Biafra (IPOB), after finding him guilty of terrorism-related charges.
Justice James Omotosho, who had earlier declared Kanu culpable on all seven counts filed by the Federal Government, stated in the judgment that prosecutors had successfully established their case beyond reasonable doubt.
In delivering the sentence, Justice Omotosho ruled that Kanu would serve life imprisonment on counts one, four, five, and six—penalties that would have ordinarily required a death sentence. The judge explained that the court opted for a life term because “life remains sacred in the eyes of God.”
Additionally, the judge imposed a 20-year sentence on Kanu for count three, while count seven carried a three-year imprisonment term.
Yields on Nigerian government bonds ticked upward as investors reduced their exposure across short-, mid-, and long-term instruments in the secondary market. Trading activity ended on a bearish note, driven largely by portfolio adjustments ahead of next week’s monetary policy committee meeting.
Cowry Asset Management reported that significant sell-offs were concentrated on the May-2033 and June-2033 maturities, indicating fragile market sentiment amid persistent naira volatility and widespread economic uncertainty.
Bond instruments maturing in 2033 recorded notable yield increases, resulting in a 4-basis-point rise in the mid-section of the yield curve.
Analysts at Cordros Capital Limited observed that the average yield climbed in the mid-tenor range by 4 basis points, largely due to heavy sales of the JUN-2033 bond, which expanded by 15 basis points. Meanwhile, yields at the short and long ends of the curve remained unchanged.
With no immediate catalysts expected, analysts predicted continued investor caution, noting that market direction will hinge on the upcoming monetary policy rate decision.
Market consensus reflects expectations that fixed-income yields will continue trending downward in line with shifts in major macroeconomic indicators such as inflation and interest rates.
The Central Bank of Nigeria (CBN) has formally distanced itself from Zuldal Microfinance Bank Limited, issuing a public warning that the organisation operates unlawfully and without any regulatory approval.
In a detailed advisory released on Thursday, the Acting Director of Corporate Communications, Hakama Sidi Ali, cited the Banks and Other Financial Institutions Act (BOFIA) 2020. She referenced Section 2(1), which clearly stipulates that banking operations in Nigeria can only be carried out by a duly incorporated company holding a valid CBN licence.
The apex bank said it became aware of reports indicating that the company—claiming branches in Lagos, Abuja, Kaduna, and Kano—presents itself as an accredited CBN-regulated microfinance bank.
The CBN clarified that “Zuldal Microfinance Bank Limited is not a licensed Microfinance Bank and has not received any form of approval or authorisation from the Central Bank of Nigeria to conduct banking or microfinance activities.”
According to the statement, the bank’s claims of being licensed are entirely false, and such assertions should be ignored by the public. Nigerians were urged to avoid conducting any form of business with the organisation, with the CBN stressing that transactions with unregulated financial operators expose individuals to substantial risks.
The apex bank concluded by urging citizens to “disregard any licensing claims made by Zuldal Microfinance Bank Limited and refrain from entering financial dealings with the entity, as such engagements are carried out at one’s personal risk.”
Oil prices edged upward on Thursday after the United States reported a larger-than-expected drop in crude inventories, while ongoing diplomatic discussions surrounding the Russia-Ukraine conflict added new layers of uncertainty to global supply projections.
Brent crude traded at $63.19 per barrel, a slight gain from Wednesday’s closing price of $63.15. Similarly, US West Texas Intermediate (WTI) rose to $59.33 per barrel, up from $59.28 in the previous session.
New figures released by the US Energy Information Administration (EIA) showed commercial crude inventory levels down by around 3.4 million barrels last week, far surpassing market forecasts of a 600,000-barrel decline. Analysts attributed the steep drawdown to accelerated refinery activity and sustained export demand. However, a simultaneous increase in gasoline stocks raised questions about domestic usage trends.
Geopolitical factors also contributed to market volatility. Fresh diplomatic efforts aimed at ending the Russia-Ukraine war heightened speculation that a peace pathway could pave the way for the removal of sanctions on Russian crude, thereby expanding global supply. This possibility has continued to exert downward pressure on prices despite the recent rally.
US Output Trends
According to the EIA, US crude oil production slipped by 28,000 barrels per day to 13.83 million bpd for the week ending December 14. During the same period, US crude imports surged by 729,000 bpd to 5.95 million bpd, while exports grew by 1.34 million bpd to 4.16 million bpd.
In its Short-Term Energy Outlook published on November 12, the EIA estimated that US oil production will average 13.59 million bpd in 2025, reflecting expectations for continued output strength.
The Lagos State Government says it could channel over ₦400 billion annually into healthcare financing if 20 million residents enroll in the state’s health insurance scheme.
Commissioner for Health, Prof. Akin Abayomi, disclosed this during the inauguration of the Lagos Private Health Partnership (LPHP), an initiative designed to expand insurance coverage, restructure health financing, and improve access to quality care through public–private collaboration.
Abayomi explained that the target funding assumes an average annual premium of ₦20,000 per enrollee. He warned that without broad participation, Lagos’ insurance ecosystem would remain fragmented, limiting equitable, people-centred care.
“Despite Lagos’ economic strength and a population exceeding 25 million, the state faces persistent health financing gaps, low insurance penetration, workforce attrition, and growing medical tourism,” he said.
The LPHP introduces a unified digital platform for enrolment, provider selection, fund flow, claims management, and reporting, aiming to shift competition from price-based rivalry to value-driven outcomes and quality assurance. A state-managed risk equalisation and solidarity fund will require private insurers to contribute 13% of premiums to protect vulnerable populations and sustain universal coverage.
Governor Babajide Sanwo-Olu, represented by Secretary to the State Government, Abimbola Salu-Hundeyin, described the LPHP as a historic step toward resilient, future-driven health financing. He noted that over 70% of healthcare in Lagos is delivered by private providers and emphasised that the LPHP would standardise service quality while balancing profitability and equity.
The initiative follows Lagos’ domestication of the National Health Insurance Authority Act (2022) through an executive order in July 2024. Health sector stakeholders, including Dr. Adebayo Adedewe (LASHMA) and Dr. Jimi Arigbabuwo (HCPAN), welcomed LPHP as a credible solution to longstanding challenges, stressing the importance of fair compensation for providers to reduce medical tourism and sustain patient satisfaction.
The Lagos State Government on Tuesday met with retirees of its public service to address concerns about healthcare access, pension administration, and overall post-service welfare. The interactive session, held at the Adeyemi Bero Auditorium, Alausa, was led by the Head of Service, Olabode Agoro, represented by the Permanent Secretary, Sunkanmi Oyegbola.
Oyegbola said the meeting was part of the state’s ongoing efforts to receive direct feedback from retirees and improve support systems built around their needs. She noted that Lagos considers its senior citizens “invaluable contributors” to the state’s progress and remains committed to timely pension payments and better communication channels.
“This engagement is one of the ways the Lagos State Government listens and responds to issues affecting our esteemed retirees,” she said.
Retirees at the forum described the initiative as a welcome opportunity to interact directly with government officials. They raised questions bordering on pension processing timelines, access to healthcare services, and opportunities for continued participation in community programmes.
The Head of Service assured them that the government would continue to strengthen systems that safeguard retiree welfare. She added that such sessions would become a regular feature to ensure sustained inclusion of senior citizens in the state’s developmental plans.
The event is part of Lagos State’s broader effort to enhance pension administration and improve the retiree experience across its public service.
Retirees of First Bank on Wednesday staged a protest at the bank’s headquarters in Marina, Lagos, demanding an immediate review of their pensions and medical allowances. They accused the bank of neglecting their welfare for more than 20 years.
The protesters carried placards and alleged that their monthly pension remains at N15,000, while medical allowance has stayed at N30,000 annually. They said several appeals to the bank had been ignored despite worsening inflation and rising living costs.
This is not the first time the retirees have raised concerns. In September 2024, the National Union of Pensioners FBN Unit accused the bank of refusing to comply with court rulings, pension reforms and previously signed agreements.
Vice Chairman of the group, Sunny Aluko, said many members had died while waiting for an adjustment. He said the retirees had visited the bank several times without results and accused the management of inaction.
General Secretary of the union, Paul Imhoagene, said the current payments leave pensioners unable to meet basic responsibilities. He said the number of retirees had dropped from more than 4,000 last year to fewer than 2,900, adding that many had died due to inadequate support.
He said the pensioners are proposing a new annual medical allowance of N500,000 and a monthly pension of N350,000. He also claimed that a consultant hired by the bank suggested a one-time payout of N1 million, which the retirees rejected.
One of the protesters, Adetokunbo Onibudu, said the bank had failed to act with compassion. She said the current allowance could no longer cover basic medical needs and accused management of ignoring those who served the bank for decades.
National Trustee (1) of the union, Adekunle Ajibola, said the bank had previously created a pensioners trust fund for situations like this. He said retirees had been denied access to the fund despite a court judgement in their favour.
Another retiree, Kaosarat Thani, said she earns N18,000 monthly, which makes her one of the highest paid among them. She said many others have received only N15,000 for more than two decades and accused the bank of prioritising new projects over staff who built the institution.
Union leaders said they are not out to damage the bank’s reputation but to demand fairness. They vowed to extend the protest nationwide and internationally if necessary.
As of press time, First Bank management had not issued a public response to the latest protest.
Welcome back to another Thursday, my people. Gather round, pull up a chair, adjust your wig, sip your zobo, and let’s talk like family. Today’s topic is one we all know too well; in fact, whether you invited it or not, Nigeria has introduced you to it personally. Yes, we are talking about insecurity, that unwanted guest that keeps entering the country without a visa, without invitation, and without shame.
Let’s be honest: living in Nigeria sometimes feels like living in a group chat where anything can happen at any time. You can be laughing with your neighbor this minute, and the next minute, you’re hearing, “Did you hear what happened on that road yesterday?” And suddenly everybody goes quiet, adjusts themselves, and begins to pray silently. Because truly, you don’t know what to expect anymore. Nigeria has become that movie where the suspense is too much, and the director did not allow us to read the script before acting the role of “concerned citizen.”
From kidnappings to robberies to banditry, nobody is spared; rich, poor, tall, short, man, woman, even goats and cows are not safe anymore. You hear stories and start wondering if some people are doing extra lessons in wickedness. And the annoying part? Nigerians have now adapted in ways you would think insecurity is a school subject we are preparing for WAEC. The way we observe our surroundings before entering a taxi now, it’s like we’re FBI trainees. Even the way we check the number plate, face of the driver, and interior of the car before entering, you’d think we are doing border control.
There’s a kind of alertness that insecurity has given Nigerians that even caffeine cannot match. You could be walking down the street and someone shouts “HEY!” behind you; before you even ask questions, you’ve jumped three steps forward. It’s not fear, it’s experience. The survival instinct is now an integral part of our character development.
But beneath the humour and our ability to make jokes out of pain (because Nigerians will joke about anything), insecurity has become a daily reality affecting everyone. It affects businesses because people are scared to travel. It affects food prices because farmers are not safe on farmlands. It affects education because some students can’t even confidently go to school. It affects mental health because fear has turned into a quiet roommate living in many minds.
And then there is the way Nigerians now share safety tips like broadcast messages. “Don’t pass that road by 7pm o.” “Avoid this route for now.” “If you see a roadblock that is not looking like police, turn back immediately.” “If the driver is acting somehow, tell him your stomach is paining you so he can stop you.” You see, we have turned safety strategies into daily lifestyle.
But insecurity is not just about fear; it also shapes how we behave. We’ve become more united in some ways; Nigerians look out for each other more than ever. When someone enters a bus and announces, “Please help me note my location,” everybody nods like a committee member. And if anything looks suspicious, Nigerians will whisper to each other like secret agents until someone boldly says, “Driver, stop o! Something is not right.”
Despite everything, Nigerians are resilient. That spirit is unmatched. We find ways to laugh through pain, to push through fear, to keep hoping that tomorrow will be better. And that’s the funny thing about us: even in insecurity, we still find joy. We still hustle. We still pray. We still dream. Because we believe that one day, this country will get it right, or at least behave small.
Insecurity may be trending, but so is our strength. So is our courage. So is our ability to adapt, survive, and still be soft-hearted people who help strangers on the road. Deep down, we want peace. We want to live normally. We want to drive at night without sending our location to ten different people. We want to travel interstate without checking news for road updates. We want a country where parents don’t sleep with one eye open.
And truly, it’s not too much to ask. Safety is not a luxury; it’s a right. Every Nigerian deserves to feel secure, whether in Lagos, Abuja, Kano, Kaduna, Kwara, Jos, Benin, Osun, or anywhere else. And while we pray, complain, and hope, we also keep pushing, reporting, protecting, observing, and staying prepared, because your instinct in this country must be sharper than a tailor’s needle.
As you go about your day, remember to stay aware, stay smart, and stay connected. Check on your people. Update someone when you move. Trust your gut. And most importantly, don’t let fear swallow your joy. Nigeria is tough, but so are you.
Another Thursday, another truth. See you next week, my people — same time, same gist, same chronicles.
