Home Blog Page 8

Nigeria Police Force foils banditry and cattle rustling attacks in Katsina

By
Kehinde Victor
-

Public safety

Keypoints

  • The Katsina State Police Command recovered two AK-47 rifles, 42 rounds of live ammunition, and 70 rustled animals during separate operations.
  • A bandit attack on a Fulani settlement in Jibia LGA was repelled, resulting in the recovery of 20 cows and 40 sheep.
  • Operations in Musawa and Matazu LGAs led to the recovery of two military jackets and a motorcycle after gun duels with suspects.
  • Several suspects reportedly escaped with gunshot injuries following a confrontation at a hideout in Dangani Village.
  • Commissioner of Police Ali Umar-Fage reaffirmed the command’s commitment to protecting lives and property across the state.

Main Story

The Nigeria Police Force has foiled separate banditry and cattle rustling attacks in Katsina, recovering rifles, ammunition and 70 rustled animals.

Police spokesman, DSP Abubakar Sadiq-Aliyu, disclosed this in a statement issued on Wednesday, May 13, 2026, in Katsina. He said the operations were conducted under Commissioner of Police, Ali Umar-Fage, with support from other security agencies and vigilantes.

The first attack occurred on Monday at about 5 p.m. in Danya Bakwai, Jibia Local Government Area, where about 10 armed bandits rustled 20 cows and 40 sheep. Following a distress call, an Armoured Personnel Carrier patrol team, supported by the military and local vigilantes, blocked escape routes and forced the suspects to abandon the animals.

Another operation followed on Tuesday morning in Musawa and Matazu Local Government Areas after a distress call from Gwarjo Village. Patrol teams engaged bandits in a gun battle before advancing to Dangani Village, identified as a criminal hideout. During the exchange of gunfire, several suspects escaped with gunshot injuries.

Items recovered from the scene included two AK-47 rifles, six empty magazines, 42 rounds of live ammunition, a TVS motorcycle, a GSM handset, and two military jackets. Surveillance and patrols have since been intensified to apprehend the fleeing suspects.

The Issues

  • The use of motorcycles by bandits allows for high mobility in rural areas, complicating the ability of security forces to intercept them before they reach remote hideouts.
  • Cattle rustling remains a significant economic threat to pastoralist settlements, often serving as a primary source of funding for bandit groups.
  • The presence of military uniforms and high caliber rifles among the recovered items indicates the sophisticated level of equipment utilized by these criminal elements.

What’s Being Said

  • “The joint security team blocked the bandits’ escape routes and engaged them in a gun duel. The suspects abandoned the rustled animals and fled due to superior tactics and firepower,” said DSP Abubakar Sadiq-Aliyu.
  • “Following the distress call, the Divisional Police Officer mobilised an Armoured Personnel Carrier patrol team to the scene,” the spokesman stated regarding the Jibia operation.
  • “We remain committed to protecting lives and property across Katsina State,” said Commissioner of Police Ali Umar-Fage.
  • “Another exchange of gunfire ensued, during which several suspects escaped with gunshot injuries,” Sadiq-Aliyu noted regarding the Musawa encounter.

What’s Next

  • Police and local vigilante groups will conduct combing operations in the forests around Musawa and Matazu to track suspects with gunshot wounds.
  • Recovered livestock will be processed for return to the rightful owners in the Danya Bakwai settlement.
  • Security agencies are expected to maintain heightened surveillance along known escape routes in the border local government areas.

Bottom Line

Coordinated efforts between the police, military, and local vigilantes in Katsina have resulted in the recovery of significant weaponry and rustled livestock, though several armed suspects remain at large following intense gun battles.

UN urges investigation into deadly airstrikes in Northern Nigeria

UN urges investigation into deadly airstrikes in Northern Nigeria

By
Kehinde Victor
-

Keypoints

  • The United Nations has called for investigations into military airstrikes in Northern Nigeria that allegedly resulted in significant civilian casualties.
  • Reports indicate an airstrike in Zamfara on May 10 allegedly killed at least 100 civilians at a market.
  • Separate Chadian military strikes reportedly killed dozens of fishermen in northwestern Nigeria.
  • Nigeria’s Defence Headquarters has rejected the casualty reports, stating the operation targeted terrorist leaders.
  • UN deputy spokesperson Farhan Haq stated that investigations must be prompt, independent, and impartial.

Main Story

The United Nations has urged Nigerian and Chadian authorities to investigate deadly military airstrikes that allegedly killed civilians in northern Nigeria.

United Nations deputy spokesperson, Farhan Haq, made the appeal on Wednesday at a news conference in New York. The call follows reports of a Nigerian airstrike on a market in Zamfara on May 10 that allegedly killed at least 100 civilians.

Additionally, separate Chadian military strikes reportedly killed dozens of fishermen in northwestern Nigeria, raising further humanitarian concerns. Haq expressed alarm and shock, joining UN Human Rights Chief Volker Türk in calling for governments to take all feasible precautions to protect civilians.

Meanwhile, Nigeria’s Defence Headquarters has rejected reports of civilian casualties following a recent joint operation in Zamfara. Maj. Gen. Michael Onoja stated that troops targeted terrorist leaders at Tumfa village in Shinkafi Local Government Area.

He described the circulating casualty figures as speculative and inconsistent with official military assessments. Onoja maintained that the Armed Forces remain committed to professionalism and accountability. However, the UN insists that those responsible for any violations must be held to account through independent and impartial investigations.

The Issues

  • Discrepancies between official military assessments and reports from the ground regarding the scale of civilian casualties in conflict zones.
  • The humanitarian impact of cross border military operations, specifically involving Chadian forces operating within Nigerian territory.
  • Challenges in conducting independent investigations in volatile regions like Zamfara where security constraints limit access for neutral observers.

What’s Being Said

  • “We join the UN Human Rights Chief, Volker Türk, in expressing alarm and shock over reported civilian deaths in northern Nigeria,” said Farhan Haq.
  • “Those responsible for any violations must be held to account. Both militaries must take all feasible precautions to protect civilians,” Haq added.
  • “The casualty figures circulating remain speculative, unverified and inconsistent with official military assessments,” stated Maj. Gen. Michael Onoja.
  • “Those responsible for any violations must be held to account,” Haq emphasized during the New York briefing.

What’s Next

  • The UN Human Rights Office will likely continue to monitor the situation and push for a formal transparent report from both the Nigerian and Chadian governments.
  • Civil society organisations in Zamfara are expected to call for local testimonies to verify the impact of the May 10 market strike.
  • The Nigerian Defence Headquarters may release further operational details to support its rejection of the reported civilian death toll.

Bottom Line The United Nations is demanding accountability following reports of over 100 civilian deaths in Zamfara and northwestern Nigeria, placing pressure on both Nigerian and Chadian militaries to justify their recent counter terrorism airstrikes.

Top 7 business models driving solar growth in Nigeria

Top 7 business models driving solar growth in Nigeria

By
Kehinde Victor
-

When people talk about solar, they often focus on the technology. Panels, batteries, and inverters. But investors are not really investing in equipment. They are investing in how money is made around that equipment.

In Nigeria, solar growth is not coming from one single approach. It is being driven by different business models, each solving a specific problem in the market. Understanding these models is what shows where real value is being created.

1. EPC (Engineering, Procurement, and Construction)

This is the most straightforward model.a A customer pays a company to design and install a solar system, and once the job is done, the transaction is mostly complete. The company earns its money upfront. This works best for customers who already have cash and want full ownership immediately. It is similar to hiring a builder to construct a house. You pay, they deliver, and the relationship largely ends there.

2. Energy-as-a-Service

Here, the customer does not buy the solar system. Instead, they pay for the electricity it produces over time. The company owns and maintains the system, while the customer pays regularly for usage. This removes the burden of upfront cost and technical responsibility. It is similar to using a generator service where you only pay for power without owning the equipment.

3. Lease-to-own

This model allows customers to pay for a system gradually and eventually take ownership. It reduces the barrier of large upfront payments while still giving the user a sense of ownership at the end. The company earns over time while expanding access to more customers. It is like buying a car or phone on installment until it becomes fully yours.

4. Mini-grids

Instead of serving one customer, this model serves an entire community. A central solar system is installed and distributes electricity to multiple homes and businesses, who then pay to use it. This is especially useful in areas without reliable grid power. It works like a shared water system where everyone connects and pays for access.

5. Commercial and industrial (C&I) solar solutions

This model focuses on businesses that rely heavily on power to operate. Systems are designed based on how each business uses electricity, often combining solar with generators or grid supply. Revenue can come from upfront payments or ongoing agreements. It works because businesses already spend consistently on diesel and are motivated to reduce that cost.

6. After-sales service and maintenance

Many solar systems run into problems after installation, and support is often limited. This has created a model where companies focus on maintaining, repairing, and monitoring systems over time. Instead of earning once, they earn continuously. It is similar to servicing a car regularly to keep it running properly.

7. Solar financing platforms

These businesses focus on making solar affordable rather than installing it. They provide loans, payment plans, or partner with installers to help customers spread the cost. This unlocks demand that would otherwise remain inactive. It is similar to how banks enable people to buy houses through mortgages rather than building the houses themselves.

Bottom line

Solar growth in Nigeria is not just about selling equipment. It is about structuring access, payment, and usage in ways that fit how people actually live and spend. Each model solves a different constraint in the market, and together they are what drive adoption. For investors, the real opportunity lies in understanding which model is removing the biggest barrier and capturing the most value.

REA deploys 200kWp solar mini-grid in Bauchi under DARES programme

REA deploys 200kWp solar mini-grid in Bauchi under DARES programme

By
Kehinde Victor
-

Keypoints

  • The Rural Electrification Agency (REA) has inaugurated a 200kWp solar mini-grid in Gangalawai Village, Bauchi State.
  • The project was deployed by Zanoplus under the Distributed Access through Renewable Energy Scale-up (DARES) programme.
  • This initiative aims to support Nigeria’s national goal of achieving universal electricity access by 2030.
  • The deployment aligns with the federal government’s ambition to reach 30,000MW of total generation capacity.
  • The project contributes to Nigeria’s long-term pathway toward achieving net-zero emissions by 2060.

Main Story

The Rural Electrification Agency (REA) has announced the successful deployment of a 200kWp solar mini-grid project in Gangalawai Village, Bauchi State.

Dr. Abba Aliyu, Managing Director of the REA, confirmed that the installation was completed by Zanoplus under the Distributed Access through Renewable Energy Scale-up (DARES) programme.

The initiative is part of a strategic effort to bridge Nigeria’s energy access gap by providing reliable electricity to underserved rural communities.

Aliyu noted that while energy progress is often measured in infrastructure, the real impact is seen in small businesses staying open longer and students having light to study at night.

The Gangalawai project is a component of a larger national journey to ensure universal electricity access across Nigeria by the year 2030.

According to the REA, every additional kilowatt deployed supports the country’s broader ambition to scale its national generation capacity to 30,000MW. Furthermore, these renewable energy projects are integral to Nigeria’s commitment to environmental sustainability, specifically the pathway toward reaching net-zero emissions by 2060.

Aliyu emphasised that the work of the agency remains focused on a “community by community” approach to link Nigerians to new economic opportunities through power.

The Issues

  • Scaling renewable energy to meet the 30,000MW goal requires significant private sector involvement and sustained investment in rural grid infrastructure.
  • Maintaining mini-grid systems in remote locations like Gangalawai poses long-term technical and operational challenges that require local capacity building.
  • Reaching the 2030 universal access target necessitates a rapid acceleration of project deployments to cover thousands of currently unserved Nigerian communities.

What’s Being Said

  • “In Gangalawai Village, Bauchi State, another important step has been taken under the DARES programme, with Zanoplus deploying a 200kWp mini-grid project,” said Dr. Abba Aliyu.
  • “Every single day at the Rural Electrification Agency, we continue pushing to close Nigeria’s energy access gap, community by community, connection by connection, kilowatt by kilowatt,” Aliyu added.
  • “What keeps me encouraged is knowing that behind every project are real people whose quality of life improves when reliable electricity arrives,” the REA chief stated.

What’s Next

  • Zanoplus and the REA will monitor the Gangalawai mini-grid to ensure stable power delivery and manage local distribution.
  • The DARES programme is expected to roll out similar solar mini-grid projects in other identified rural clusters across the northern region.
  • The Federal Government will continue to track progress toward the 2030 universal access milestone through the Energy Transition Office.

Bottom Line

The deployment of the 200kWp solar grid in Bauchi signifies the REA’s shift toward decentralized, renewable solutions as a primary tool for achieving Nigeria’s 2030 universal power goals.

Court delivers crushing verdict as ex-Power Minister gets 75 years for ₦33.8bn laundering

Tehran struck by magnitude 4.3 earthquake on Tuesday night

By
Kehinde Victor
-

Key points

  • A magnitude 4.3 earthquake struck the Iranian capital, Tehran, at 11:46 pm on Tuesday, May 12, 2026.
  • The U.S. Geological Survey (USGS) and Iranian state broadcaster IRIB provided varying magnitudes of 4.3 and 4.6 respectively.
  • The tremor originated near the Pardis area, east of the capital, at a shallow depth of approximately 10 kilometres.
  • Tremors were felt as far west as Karaj, roughly 40 kilometres from Tehran.
  • There were no immediate reports of casualties or significant structural damage following the event.

Main Story

An earthquake struck the Iranian capital Tehran late on Tuesday, the U.S. Geological Survey (USGS) said. The USGS reported that the magnitude 4.3 quake occurred at 11:46 pm (2016 GMT).

However, Iranian state broadcaster IRIB put the magnitude at 4.6 and said it struck east of the capital in the Pardis area at a depth of around 10 kilometres.

While the tremor caused concern across the metropolitan area, there were no immediate reports of damage or injuries. IRIB noted that the tremor was also felt in the suburb of Karaj, located around 40 kilometres west of Tehran.

Iran is one of the world’s most seismically active countries, located at the complex convergence of the Arabian and Eurasian tectonic plates. The region frequently experiences high-magnitude earthquakes that result in significant casualties due to shallow epicenters and vulnerable infrastructure.

Historical precedents for such seismic activity include the 1990 Rudbar-Tarom magnitude 7.4 quake, which killed more than 40,000 people, and the 2003 Bam magnitude 6.6 quake, which resulted in over 26,000 deaths.

The Issues

  • The shallow depth of the earthquake (10 km) increases the intensity of the shaking felt at the surface, even for moderate magnitudes like 4.3.
  • Tehran’s dense population and varying infrastructure quality remain a point of concern for emergency planners during seismic events.
  • Discrepancies between international (USGS) and local (IRIB) magnitude readings are common in the immediate aftermath of tectonic shifts.

What’s Next

  • Seismologists will continue to monitor the Pardis area for potential aftershocks over the next 48 hours.
  • Emergency services in Tehran and Karaj are expected to conduct routine inspections of critical infrastructure to ensure no hairline structural damage occurred.
  • Local authorities may issue updated safety guidelines for residents living near the epicentral zone east of the capital.

Bottom Line

Despite causing widespread alarm in Tehran and its suburbs, the magnitude 4.3 earthquake resulted in no reported casualties, serving as a reminder of the city’s precarious position on active tectonic fault lines.

Court delivers crushing verdict as ex-Power Minister gets 75 years for ₦33.8bn laundering

Court delivers crushing verdict as ex-Power Minister gets 75 years for ₦33.8bn laundering

By
Leonard Offiong
-

Key points

  • Former Minister of Power, Saleh Mamman, has been convicted on all 12 counts bordering on money laundering, conspiracy, and criminal breach of trust.
  • The Federal High Court in Abuja sentenced him to 75 years imprisonment over the diversion of ₦33.8 billion linked to major power projects.
  • The funds were allegedly siphoned from the Mambilla and Zungeru Hydroelectric Power projects.
  • The EFCC secured the conviction after presenting 17 witnesses and 43 exhibits before the court.
  • The judgment is being viewed as one of the most significant anti-corruption victories in Nigeria’s power sector in recent years.

Main story

In what many observers have described as a watershed moment in Nigeria’s anti-corruption campaign, the Economic and Financial Crimes Commission (EFCC) has secured the conviction of former Minister of Power, Saleh Mamman, over a multi-billion naira fraud scandal tied to critical national infrastructure projects.

Justice James Omotosho of the Federal High Court in Abuja handed down the judgment, finding Mamman guilty on all 12 amended charges relating to money laundering and diversion of public funds amounting to ₦33.8 billion.

Mamman, who served under former President Muhammadu Buhari between 2019 and 2021, was subsequently sentenced to a cumulative 75 years behind bars.

The case centred on funds allocated to the Mambilla and Zungeru Hydroelectric Power projects — two major electricity initiatives expected to improve Nigeria’s troubled power supply.

According to court proceedings, the former minister allegedly diverted huge sums through cash transactions, proxy accounts, and Bureau de Change operators. One of the transactions presented before the court involved a cash payment of $655,700 for a property in Abuja.

The court held that the prosecution established its case beyond reasonable doubt, describing the evidence presented by the EFCC as compelling and largely uncontested by the defense.

Mamman’s conviction follows months of legal proceedings that drew national attention, especially after his absence during an earlier court session forced the judge to issue a bench warrant to compel his appearance for sentencing.

The ruling has sparked widespread reaction across political and civil society circles, particularly in Taraba State, where the former minister remains an influential political figure reportedly linked to permutations ahead of the 2027 governorship race.

While supporters insist the case was politically motivated, many Nigerians have hailed the judgment as a long-awaited sign that high-ranking public officials can finally be held accountable for corruption.

What’s being said

The judge stated that rather than confronting the country’s worsening power crisis, Mamman chose to “live large at the expense of ordinary citizens.”

Analysts and public affairs commentators have also described the conviction as a major warning to corrupt public office holders.

“This should serve as a warning to public officials. Nigerians have suffered enough from corruption, especially in critical sectors like power,” one commentator noted.

EFCC officials, reacting to the verdict, reiterated their commitment to pursuing high-profile corruption cases across government institutions.

According to the commission, “public office is a trust,” stressing that anti-graft agencies would continue to intensify efforts against financial crimes in the public sector.

The issues

Nigeria’s power sector has long been synonymous with massive budget allocations, abandoned projects, and recurring corruption allegations despite decades of reform promises.

The alleged diversion of funds meant for flagship projects like the Mambilla Hydroelectric Power Plant — one of Africa’s biggest proposed hydroelectric schemes — has once again exposed deep-rooted institutional failures and weak accountability systems.

For years, inadequate electricity supply has crippled businesses, discouraged investment, and worsened living conditions for millions of Nigerians forced to rely on costly alternatives such as generators and inverters.

The case has also reignited concerns over political influence in corruption trials, enforcement of bail conditions, and the slow pace of justice in high-profile financial crime cases.

Mamman’s earlier failure to appear in court further fueled public skepticism about whether politically exposed persons are truly held to the same standards as ordinary citizens.

What’s next

The former minister is expected to begin serving his prison sentence immediately, although legal observers anticipate that his defence team may challenge the judgment at the appellate court.

Meanwhile, the EFCC has indicated that investigations into alleged corruption within the power sector and other government ministries will continue.

Anti-corruption advocates believe the conviction could strengthen public confidence in the EFCC and signal a tougher stance against financial crimes under the current administration.

There are also growing calls for the government to go beyond convictions by ensuring the recovery of looted funds and the completion of abandoned power projects tied to corruption scandals.

Bottom line

The conviction and 75-year jail sentence handed to Saleh Mamman marks one of the strongest judicial statements yet against corruption in Nigeria’s public sector.

Beyond the courtroom victory, the case reflects the devastating human and economic consequences of corruption in critical sectors like electricity — where billions meant for national development allegedly disappeared while millions of Nigerians remained trapped in darkness.

For many Nigerians, the ruling is more than just a sentence; it is a test of whether accountability can finally take root at the highest levels of government.

Dollar To Naira Exchange Rate Today, May 13th, 2026

By
Boluwatife Oshadiya
-
Stears Africa FX Monitor Predicts Continued Naira Volatility

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1377 per $1 on Wednesday, May 13th, 2026. The naira traded as high as 1372 to the dollar at the investors and exporters (I&E) window on Tuesday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1387 on Tuesday 12th May, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1400
Buying Rate₦1387

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1377
Lowest Rate₦1372

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

US-based Nigerian doctor brutalised, SUV torched after false kidnap accusation

US-based Nigerian doctor brutalised, SUV torched after false kidnap accusation

By
Leonard Offiong
-

Key points

  • A United States-based Nigerian doctor was nearly lynched by an angry mob in Ibadan after he was wrongly accused of kidnapping.
  • The mob reportedly set his Lexus RX 330 SUV on fire before police officers intervened.
  • Two teenage girls found inside the vehicle were later confirmed not to have been abducted.
  • Police say the incident was triggered by suspicion after the girls were seen half-naked inside the vehicle and could not properly communicate in English or the local language.
  • The Oyo State Police Command has launched an investigation and vowed to arrest those involved in the mob attack.

Main story

Tension erupted in Ibadan, the Oyo State capital, after a United States-based medical doctor narrowly escaped death following a false kidnapping allegation that sparked violent mob action.

The incident, which occurred on Monday around the 2nd Powerline Area in Ologuneru along the Eleyele-Ido Road, drew widespread attention after residents reportedly descended on the doctor and set his vehicle ablaze before police officers arrived at the scene.

According to a statement issued on Wednesday by the Police Public Relations Officer in Oyo State, DSP Ayanlade Olayinka, officers responded swiftly to a distress call claiming that a suspected kidnapper had been apprehended by an angry crowd.

Police authorities later identified the victim simply as Dr. Afolabi, describing him as a Nigerian doctor based in the United States and not a kidnapper as widely alleged in circulating social media claims.

Investigators said the two girls found inside the vehicle had been handed over legally to the doctor for domestic assistance at his mother’s residence.

What’s being said

“Upon lowering the vehicle’s window glass, the two girls were allegedly seen half-naked, a situation which immediately aroused suspicion among bystanders and security personnel.” the statement said.

“It was gathered that the victim’s inability to provide satisfactory answers to questions asked at the scene, coupled with his decision to turn away from the checkpoint, further heightened suspicion.”

“Further findings established that the two girls found inside the vehicle were legally taken from one Mrs. Idowu Abimbola, aged 56 years, of Eleyele Area, Ibadan, with the intention of delivering them to the victim’s mother for the purpose of assisting with household chores.”

“In the course of investigation, Mrs. Idowu Abimbola was invited to the station where she confirmed the arrangement, while the two girls equally corroborated the account and related freely with the said woman, thereby dispelling the suspicion of abduction,” the statement added.

What’s next

The Oyo State Police Command says efforts are ongoing to identify and arrest all individuals involved in the attack, destruction of property, and attempted jungle justice.

Commissioner of Police, CP Abimbola Olugbenga, condemned both the mob action and the spread of unverified information capable of inciting panic and public unrest.

He warned residents against taking the law into their hands or amplifying unconfirmed claims on social media.

The police commissioner also ordered a full-scale investigation into the incident and assured that all suspects linked to the attack would be prosecuted in accordance with the law.

Bottom line

What began as suspicion quickly spiraled into violent mob action, leaving a medical doctor brutalised and his vehicle reduced to ashes — all over a kidnapping claim police now say was false.

The incident once again highlights the growing dangers of jungle justice, misinformation, and social media-fuelled panic in Nigeria.

UNEP warns of global sand crisis as extraction outpaces natural replenishment

By
Kehinde Victor
-

Key points

  • A new UN Environment Programme (UNEP) report warns that humanity is extracting 50 billion tonnes of sand and gravel annually.
  • Global demand for sand in buildings is projected to rise by 45 per cent by 2060.
  • Population growth in Africa, expected to double by 2050, is identified as a major driver for future infrastructure demand.
  • Sand extraction is increasingly occurring in fragile ecosystems, including rivers, coastal zones, and protected marine areas.
  • UNEP is advocating for the use of “ore-sand” and compressed straw as sustainable alternatives to traditional sand.

Main Story

The UN says humanity is extracting sand and gravel faster than nature can replenish it, warning that sand is not an endless resource.

This is contained in a new UN Environment Programme (UNEP) report, “Sand and Sustainability: An Essential Resource for Nature and Development”.

UNEP said surging global demand for sand, driven by population, economic, urbanisation and infrastructure growth, is outpacing sustainable sand supply, threatening the ecosystems and livelihoods on which we depend.

The UN agency decried the sand dilemma, saying “we depend on ‘dead’ sand for infrastructure and ‘alive’ sand for natural services”.

The study found sand demand for buildings is expected to rise by 45 per cent by 2060, triggering UNEP’s warning that the world may be left without sand.

While it took nature hundreds of thousands of years to generate sand through geological erosion, humans are using it at a rate of 50 billion tonnes per year. Pascal Peduzzi, a senior UNEP official, noted that while demand was previously fueled by booming economies in Asia, the focus will shift to Africa as its population is set to double by 2050.

The report found that extraction is increasingly taking place in fragile rivers, lakes, and coastal zones. Climate change is also driving demand, as sand is required for sea walls to protect against rising oceans.

The Issues

  • The “sand dilemma” highlights a conflict between the need for “dead” sand used in construction and the vital role of “alive” sand in supporting natural ecosystem services.
  • Current extraction practices often prioritize the lowest cost sourcing, leading to significant long term environmental damage in protected marine and riverine areas.
  • Most governments continue to view sand as a cheap, abundant commodity rather than a strategic resource linked to water security and biodiversity.

What’s Being Said

  • “Sand is extracted for various infrastructure needs that underpin modern society and development,” UNEP said.
  • “It took nature hundreds of thousands of years to generate sand through gradual, geological erosion processes. Yet we are using sand at the staggering rate of 50 billion tonnes per year,” the report stated.
  • “We have seen that particularly in Asia and Southeast Asia where the economy was booming. But we will see it now in Africa because the population is going to double from now to 2050,” said Pascal Peduzzi.
  • “We depend on ‘dead’ sand for infrastructure and ‘alive’ sand for natural services,” the UN agency noted regarding the resource’s dual role.

What’s Next

  • UNEP is urging governments to adopt stronger environmental oversight and greater transparency regarding extraction permits.
  • Industry players are being encouraged to expand the use of “ore-sand,” a by-product of mineral processing, to reduce pressure on coastal ecosystems.
  • Research into alternative building materials, such as compressed straw and recycled glass, is expected to accelerate to meet the 2060 demand projections.

Bottom Line

With global sand consumption reaching 50 billion tonnes annually, the UN is calling for a fundamental shift in how the world manages sand, moving from seeing it as an infinite material to treating it as a strategic resource essential for climate resilience.

Former VON DG Osita Okechukwu defends political zoning as essential for national cohesion

Former VON DG Osita Okechukwu defends political zoning as essential for national cohesion

By
Kehinde Victor
-
IPOB: VON DG Urges Group To Reconsider Planned Lockdown Of South-East

Key points

  • Former Director-General of Voice of Nigeria (VON), Osita Okechukwu, stated that political zoning is necessary for equity and inclusion.
  • Okechukwu responded to comments by former Vice President Atiku Abubakar, who described zoning as “self-defeating” and “intellectually dishonest.”
  • The APC chieftain characterized Atiku’s claims as a “classic case of self-denial.”
  • Okechukwu argued that zoning is a foundational mechanism designed to prevent the monopoly of power.
  • He cited historical precedents, including the 2022 PDP primaries, as evidence for why zoning conventions should be upheld.

Main Story

The former Director-General of Voice of Nigeria (VON), Mr Osita Okechukwu, says political zoning is essential for maintaining national cohesion, inclusion, and equity in Nigeria.

Okechukwu said this on Tuesday in Enugu while responding to questions from newsmen on the statement describing political zoning in Nigeria as “self-defeating” and “intellectually dishonest” credited to former Vice President Atiku Abubakar.

He dismissed the self-defeating claim as a ”classic case of self-denial, which does not subscribe to the truth and realism”. Okechukwu stated that zoning is a foundational element designed by statesmen to ensure a sense of belonging across Nigeria’s diverse regions.

Zoning, he said, is seen as a mechanism to prevent the monopoly of power, ensuring that all regions have an opportunity to hold high office. The APC chieftain questioned if Atiku could have become Vice President without a zoning arrangement.

He cited historical precedents, such as the perceived negative impact of breaching zoning conventions in the 2022 PDP primaries, as reasons why the arrangement should be upheld.

Okechukwu noted that equity cannot be discussed in fragments or based on convenient arithmetic, reinforcing that the system is a mechanism for regional sense of belonging.

The Issues

  • The debate over zoning highlights a fundamental tension between merit-based political competition and the need for regional representation in a diverse federation.
  • Critics argue that zoning restricts the pool of available leadership talent, while proponents see it as a safeguard against ethnic or regional dominance.
  • The perceived breach of zoning conventions in previous election cycles continues to influence internal party dynamics and voter perceptions of fairness.

What’s Next

  • Political parties are expected to continue debating the merits of formal versus informal zoning ahead of the next major election cycle.
  • Legal and constitutional discussions regarding the formalization of power rotation may gain more prominence in legislative chambers.
  • Stakeholders will monitor how major political figures align themselves with the zoning debate as a strategy for future primary elections.

Bottom Line

Osita Okechukwu has positioned political zoning as a non-negotiable tool for Nigerian stability, countering opposition views by framing the arrangement as the primary reason for past and future inclusion in high office.

Fidelity Bank and You Matter Foundation empower 500 women in Delta State

Kano tomato association seeks urgent government intervention for processing industries

By
Kehinde Victor
-

Keypoints

  • The Kano State Tomato Growers, Processors and Marketers Association is calling for the establishment of processing plants to reduce post-harvest losses.
  • Chairman Sani Danladi-Yadakwari reported that fertiliser prices have risen to N55,000 per bag.
  • Transportation costs for moving tomatoes from Kano to Lagos have reached approximately N1 million per truck.
  • Post-harvest losses currently stand between 5% and 10% due to reduced production volumes.
  • The association is advocating for subsidised inputs, including tractors, irrigation facilities, and credit to sustain farming.

Main Story

The Kano State Tomato Growers, Processors and Marketers Association has called for urgent government intervention to establish tomato processing industries to sustain production and reduce post-harvest losses.

Chairman of the association, Sani Danladi-Yadakwari, made the call in an interview with the News Agency of Nigeria (NAN) in Kano on recently.

He urged the government to make farm inputs more affordable, stating that the lack of processing companies and reliable off-takers remains a major challenge. Many farmers are currently forced to transport produce outside the state or country to find buyers.

Danladi-Yadakwari noted that rising production costs, particularly for fertilisers and irrigation, have forced many smallholder farmers to reduce cultivation or switch crops.

Fertiliser now costs about N55,000 per bag, while high fuel prices have pushed the cost of transporting a truck of tomatoes to Lagos to N1 million.

While post-harvest losses have dropped from 30% to between 5% and 10%, the chairman attributed this to lower production volumes rather than improved infrastructure. The association is appealing for access to subsidised tractors and credit facilities to boost the local tomato value chain.

The Issues

  • The absence of local processing facilities forces farmers into long-distance logistics, exposing highly perishable produce to significant spoilage risks.
  • Skyrocketing costs for essential inputs like fertiliser (N55,000/bag) and transportation (N1 million/truck) are making tomato farming economically unviable for smallholders.
  • Reduced production volumes have artificially lowered post-harvest loss percentages, masking the underlying lack of storage and processing infrastructure.

What’s Being Said

  • “Our major challenge is market access. We do not have enough processing companies to absorb our produce locally, and this affects farmers seriously,” said Sani Danladi-Yadakwari.
  • “That is why we are appealing to the government and private investors to support tomato processing industries so that farmers can have guaranteed markets,” he added.
  • “So many farmers are often forced to transport their produce outside Kano, and sometimes outside the country, in search of buyers,” the chairman stated regarding the market search.

What’s Next

  • The association plans to continue engaging with private investors to highlight the profitability of establishing processing plants in Kano.
  • Farmers are awaiting government response regarding the provision of subsidised fertilisers and irrigation equipment ahead of the next planting cycle.
  • Ongoing monitoring of fuel prices will determine if transportation costs to southern markets like Lagos will remain at the current N1 million threshold.

Bottom Line

Kano’s tomato industry is facing a dual crisis of high input costs and a lack of local processing, prompting a plea for industrial intervention to prevent farmers from abandoning the crop entirely.

President Bola Tinubu advocates for African industrialisation and financial reform at Nairobi summit

Fans and colleagues mourn as Nollywood actor Alexx Ekubo passes away

By
Kehinde Victor
-

Key points

  • Nollywood actor Alexx Ekubo has reportedly passed away after a prolonged battle with cancer.
  • The news surfaced on Tuesday, May 12, 2026, leading to widespread mourning across social media platforms.
  • High profile colleagues including Funke Akindele, Richard Mofe-Damijo, and Bolanle Ninalowo have shared tributes.
  • Human rights activist Omoyele Sowore described the late actor as a “rare talent” in a condolence message.
  • Ekubo had been absent from the public eye and social media since December 2024.

Main Story

Fans and followers of late Nollywood actor Alexx Ekubo across social media platforms have expressed sadness over his demise, describing the incident as shocking and heartbreaking.

The Nigerian entertainment industry has been thrown into mourning since Tuesday when news of the actor’s passing surfaced online. Social media posts by close colleagues and media reports stated that he died after a prolonged battle with cancer.

The incident has generated a frenzy on social media, with fans pouring in tributes. Born on April 10, 1986, Ekubo was regarded as one of Nollywood’s most versatile actors, though his prolonged absence from the public and social media since December 2024 had previously raised concerns among fans.

Colleagues and celebrities have shared emotional messages following the news. Actress Funke Akindele shared that she had tried to reach out to him one last time, while Richard Mofe-Damijo noted that he struggled to fully process the news.

Human rights activist Omoyele Sowore also issued a statement, recalling Ekubo’s screen presence and offering condolences to his family. The actor’s last public social media activity occurred shortly after reports emerged regarding the end of his engagement to model Fancy Acholonu.

The Issues

  • The actor’s long withdrawal from public life and social media since late 2024 left a void in the industry and fueled long-standing concerns regarding his wellbeing.
  • The sudden confirmation of a terminal illness has sparked discussions among fans regarding the private battles celebrities face despite their public personas.
  • The loss marks the departure of a versatile talent who was a staple in both hit films and television productions over the last decade.

What’s Being Said

  • “Hmmmmmm. Rest in peace, Alex. I tried to reach out to see you one more time, but I guess you knew best,” wrote Funke Akindele.
  • “Life is not only fickle, it can also feel unreal. Even as I type this, I still struggle to fully process it, and it deeply saddens me to hear this news,” stated Richard Mofe-Damijo.
  • “He was a rare talent whose presence lit up the screen effortlessly. May he rest in power,” said Omoyele Sowore.
  • “Omoh, sometimes when I hear such news I just sit down and think about life. Everything we’re struggling for can just end in one moment. It’s really scary,” posted @SAMPSOLO on X.

What’s Next

  • Funeral arrangements and official statements from the Ekubo family are expected to be released in the coming days.
  • Nollywood guilds and associations are likely to organize a night of tributes or a memorial service to honor the actor’s contributions to the industry.
  • Fans are expected to continue holding virtual vigils and sharing clips of his most memorable performances as a form of digital memorial.

Bottom Line The passing of Alexx Ekubo at the age of 40 has left Nollywood in a state of shock, ending his two year absence from the public eye with the revelation of a private battle against cancer.

ECOWAS reiterates commitment to information integrity and digital governance ahead of 2027 elections

Fidelity Bank and You Matter Foundation empower 500 women in Delta State

By
Kehinde Victor
-
Fidelity Bank Notifies Public Of Change On Board Of Directors

Key points

  • Fidelity Bank Plc and the You Matter Foundation donated N40 million in cash grants to 400 market women in Delta State.
  • An additional 100 women received 50 sewing machines and 50 grinding machines as part of an empowerment package.
  • The 500 beneficiaries were selected from all 25 Local Government Areas of the state.
  • The initiative was funded through the Fidelity Helping Hands Programme (FHHP) and the Give Her Power (GHP) initiative.
  • Delta Governor’s wife, Mrs Tobore Oborevwori, matched the bank’s N20 million donation with an additional N20 million to increase individual grants.

Main Story

Fidelity Bank Plc, in partnership with the You Matter Foundation, a pet project of the Wife of the Delta Governor, Mrs Tobore Oborevwori donated N40 million to 400 market women in Delta State.

Another set of women received 50 sewing machines and 50 grinding machines. The 500 beneficiaries were selected from the 25 Local Government Areas of the state.

The gesture formed part of the bank’s Corporate Social Responsibility under the Fidelity Helping Hands Programme (FHHP) and Give Her Power (GHP) initiative.

Dr Nneka Onyeali-Ikpe, the bank’s Managing Director/CEO, represented by Mrs Pamela Shodipo, described the initiative as part of the bank’s women-focused proposition, “HerFidelity.”

The bank’s staff in Delta raised N10 million, which was matched by management to reach N20 million. Mrs Oborevwori then added another N20 million, ensuring 400 beneficiaries received N100,000 each instead of the initial N50,000. Onyeali-Ikpe stated that the GHP initiative is rooted in the belief that empowerment must be practical and sustainable.

The governor’s wife encouraged the women to treat the donations as a “seed” to be nurtured into something greater. Regional Bank Head Mrs Augusta Anyanwu-Egbom advised the women to explore the bank’s small and micro enterprises hub to develop a savings culture and grow their businesses.

The Issues

  • Ensuring the sustainability of micro-businesses requires more than one-time grants; beneficiaries need ongoing access to credit and financial literacy training.
  • The logistics of distributing heavy equipment like grinding and sewing machines across all 25 LGAs involves significant transport and setup challenges for the recipients.
  • Inflationary pressures in the economy may affect the purchasing power of the N100,000 grants, making efficient business scaling critical for the market women.

What’s Being Said

  • “The FHHP is a corporate social responsibility platform through which our staff across business locations identify projects that address real needs in their immediate communities, raise funds to support those projects,” said Dr Nneka Onyeali-Ikpe.
  • “At least, 400 beneficiaries will receive cash grants, totalling N20 million, 50 women will receive grinding machines, while another 50 women will receive sewing machines. On my part, I am adding an additional N20 million,” stated Mrs Tobore Oborevwori.
  • “This means that 400 women will go home with N100,000 each, instead of the initial N50,000,” the governor’s wife added.
  • “When women are empowered economically, the benefits extend beyond the individual to families, small businesses and the wider community,” Onyeali-Ikpe noted.

What’s Next

  • Beneficiaries are expected to begin utilizing the sewing and grinding machines to provide services within their respective communities.
  • Fidelity Bank’s SME hub will engage with the 500 women to provide further guidance on business growth and savings strategies.
  • The You Matter Foundation will likely monitor the progress of the “seeds” planted by these grants as part of its ongoing social welfare assessments in Delta State.

Bottom Line

By combining staff-led fundraising with executive matching and government foundation support, Fidelity Bank has provided a N40 million capital injection and industrial equipment to bolster the micro-economies of women across all 25 LGAs in Delta State.

President Bola Tinubu advocates for African industrialisation and financial reform at Nairobi summit

ECOWAS reiterates commitment to information integrity and digital governance ahead of 2027 elections

By
Kehinde Victor
-
ECOWAS Imposes Penalties On Niger Military Junta's Supporters

Keypoints

  • The ECOWAS Commission pledged to strengthen strategic communication and responsible digital governance to safeguard Nigeria’s 2027 elections.
  • More than 500 journalists across the region have been trained in the last year to combat misinformation and disinformation.
  • A “Practical Guide for Regulatory Bodies” was introduced to provide stakeholders with strategies for addressing risks within digital platforms.
  • The initiative is part of the Praia Policy Framework, aiming to improve the governance of digital platforms while protecting human rights.
  • Partners including GIZ and the Media Foundation for West Africa are collaborating with Nigerian regulators and civil society.

Main Story

The ECOWAS Commission on Tuesday reiterated its firm commitment to strengthening strategic communication, democratic resilience, and responsible digital governance across Nigeria’s space.

Francis Ezekiel of the Directorate of Communication, ECOWAS Commission, gave this assurance in Lagos at the ongoing Meeting of Nigerian Regulators on Information Integrity in the context of the forthcoming 2027 elections.

The two-day meeting brought together Nigerian regulators, development partners, and civil society organisations to deliberate on strategies to safeguard information integrity and avoid deepfakes.

Ezekiel noted that over the last year, ECOWAS has trained more than 500 journalists across the region in combating misinformation and has organised its communication policy to address challenges relating to social media, artificial intelligence, and disinformation.

The meeting focused on the “Practical Guide for Regulatory Bodies,” a policy guide aimed at addressing emerging risks within the digital ecosystem while promoting transparency and institutional independence.

Ezekiel stated that Nigeria plays a central role in shaping information flows across the continent, making its experiences vital to broader regional responses. Ms Lillian Seffer of GIZ Nigeria underscored that addressing disinformation is not merely a technical issue but is deeply linked to trust and democratic governance.

The Practical Guide is an offshoot of the Praia Regional Conference and seeks to promote a coherent approach to information integrity, improve the governance of digital platforms, and strengthen the resilience of populations against hate speech.

The Issues

  • The rapid advancement of artificial intelligence and deepfakes presents a significant challenge to ensuring information integrity during election cycles.
  • Coordination between government, media practitioners, and civil society is required to create a systemic response to disinformation that does not infringe on human rights.
  • Safeguarding democratic governance requires rebuilding public trust in credible communication channels amidst a crowded digital space.

What’s Being Said

  • “In the last one year, the ECOWAS Commission in partnership with GIZ and the Media Foundation for West Africa have trained more than 500 journalists across the region in combating misinformation and understanding its impact on peace and stability in the region,” said Francis Ezekiel.
  • “Addressing disinformation is not a technical issue only. It is linked to trust, transparency, credible public communication and ultimately democratic governance,” stated Ms Lillian Seffer of GIZ Nigeria.
  • Ezekiel added that Nigeria “played a central role in shaping information flows and public discourse across the continent.”

What’s Next

  • Nigerian regulatory bodies will begin implementing the Practical Guide for Regulatory Bodies as part of their standard operating procedures ahead of 2027.
  • Further training sessions for media practitioners and civil society groups are expected to scale across West Africa to broaden regional resilience.
  • Stakeholders will monitor the effectiveness of the Praia Policy Framework in reducing the spread of deepfakes and hate speech on digital platforms.

Bottom Line

ECOWAS is positioning Nigeria’s 2027 elections as a testing ground for its new regional digital governance framework, focusing on journalist training and regulatory transparency to counter the growing threat of AI-driven misinformation.

Trump downplays tensions with Xi Jinping over Iran war ahead of Beijing visit

President Bola Tinubu advocates for African industrialisation and financial reform at Nairobi summit

By
Kehinde Victor
-

Keypoints

  • President Bola Tinubu led Nigeria’s delegation to the Africa Forward Summit in Nairobi, co-hosted by Presidents Emmanuel Macron and William Ruto.
  • Tinubu offered Nigeria’s Deep Blue Project maritime intelligence infrastructure as a shared data hub for Gulf of Guinea states.
  • Nigeria expressed readiness to host the 2026 CAF Awards during a meeting with CAF President Dr Patrice Motsepe.
  • The President highlighted that Nigeria will spend approximately 11.6 billion dollars on debt servicing in 2026, calling for global financial architecture reforms.
  • Prominent Nigerian business leaders including Aliko Dangote, Abdulsamad Rabiu, Tony Elumelu, and Aigboje Aig-Imoukhuede accompanied the delegation.

Main Story

President Bola Tinubu led Nigeria’s delegation to the Africa Forward Summit in Nairobi, Kenya, on Tuesday, advocating for stronger economic integration that prioritises Africa’s growth and industrialisation.

The summit, co-hosted by French President Emmanuel Macron and Kenyan President William Ruto, brought together leaders from over 30 countries.

According to a statement by Presidential Spokesperson Bayo Onanuga, Tinubu held bilateral meetings with Madagascar’s President Michael Randrianirina and CAF President Dr Patrice Motsepe, expressing Nigeria’s readiness to host the 2026 CAF Awards.

During the summit, African leaders emphasised the need for affordable credit, while the French government advocated for restructuring relations based on equality.

Tinubu highlighted Nigeria’s blue economy potential, noting that insecurity has hindered maritime investments. He made an explicit commitment to offer Nigeria’s Deep Blue Project maritime intelligence infrastructure as a shared data hub for Gulf of Guinea states to intensify regional coordination.

Addressing international financial reforms, Tinubu warned that the global financial architecture risks irrelevance if it fails to address inequities. He noted that Africa’s share of global manufacturing remains below two per cent due to the export of raw materials.

Tinubu detailed Nigeria’s reforms, including fuel subsidy removal and a banking recapitalisation exceeding 45.5 billion dollars, but lamented that the country would spend 11.6 billion dollars on debt servicing in 2026. On migration, he urged partners to invest in infrastructure and digital skills to address root causes, stating that people with hope rarely risk dangerous migration journeys.

The Issues

  • High borrowing costs in Africa, which Tinubu noted are five to ten times higher than in Europe or North America, severely limit the competitiveness of African manufacturers.
  • “Sea blindness” and maritime insecurity in the Gulf of Guinea continue to act as a barrier to unlocking the full economic potential of the continent’s blue economy.
  • The current global financial system remains a point of friction, with Nigeria demanding a fair system that enables the local refining of crude oil and processing of minerals.

What’s Being Said

  • “Today, I make an explicit commitment: Nigeria will intensify regional coordination by offering our Deep Blue Project’s maritime intelligence infrastructure as a shared data hub for willing Gulf of Guinea states,” said President Bola Tinubu.
  • “How can an African manufacturer compete with competitors in Europe, Asia, or North America when borrowing costs in Africa are five to ten times higher?” Tinubu asked during financing discussions.
  • Tinubu stated that Africa must move from “sea blindness to ocean sovereignty,” describing the continent’s oceans as a “shared heritage requiring collective protection.”

What’s Next

  • Nigeria will begin formal discussions with Gulf of Guinea states regarding the integration of maritime intelligence data through the Deep Blue Project hub.
  • Following the meeting with Dr Patrice Motsepe, Nigeria will pursue the formal bidding and preparation process to host the 2026 CAF Awards.
  • The Nigerian government will continue to push for the outcomes of the Nairobi summit to be mainstreamed into the G7 agenda during the upcoming meeting in France.

Bottom Line

President Tinubu is leveraging Nigeria’s regional security assets and domestic economic reforms to demand a fundamental shift in how the global financial system treats African industrialisation and maritime sovereignty.

U.S. appeals court temporarily reinstates Trump’s 10 per cent import tariffs

U.S. appeals court temporarily reinstates Trump’s 10 per cent import tariffs

By
Kehinde Victor
-

Key points

  • A federal appeals court has suspended a lower court ruling that had declared President Donald Trump’s 10 per cent global import tariffs unlawful.
  • Importers must continue paying the duties while the appeals judges consider the administration’s full request.
  • The Court of International Trade in New York previously ruled that the president exceeded his authority by misinterpreting the 1974 trade law.
  • The 10 per cent levy was introduced on February 24, 2026, as an emergency measure after the Supreme Court struck down previous tariffs.
  • Plaintiffs, including the state of Washington, have seven days to respond to the appeals court’s decision.

Main Story

U.S. President Donald Trump has secured an interim victory in the legal battle over his tariff policy. A federal appeals court on Tuesday temporarily suspended a lower court ruling that found Trump’s temporary tariffs on imports from around the world unlawful last week.

As a result of this stay, importers must continue paying the 10 per cent duties for the time being. The appeals court’s decision is not a final ruling; instead, it pauses the judgment by the Court of International Trade in New York while the judges evaluate the administration’s request.

The plaintiffs, which include the state of Washington and two private companies, have seven days to file their response.

The dispute centers on a 10 per cent tariff imposed on most imports since February 24, 2026. Trump introduced these duties immediately after the Supreme Court declared many of his previous trade measures unlawful.

To implement the new levy, the president relied on an emergency provision of a 1974 trade law that limits such collections to a maximum of 150 days.

However, the Court of International Trade concluded last week that the president had misinterpreted the law and exceeded his authority.

The U.S. administration argued that striking down the tariffs would “severely undermine the President’s trade agenda and will destabilise efforts to remedy our longstanding trade deficit,” warning that duties already collected could be permanently lost if the ruling stood.

The Issues

  • The legal interpretation of the 1974 trade law is the central point of contention, specifically whether it allows for broad “emergency” global levies after previous tariffs were struck down.
  • Businesses and state governments argue that the 10 per cent duty creates significant economic instability and increased costs for consumers.
  • The administration maintains that the tariffs are a necessary tool to address the trade deficit and that a sudden cessation of collection would cause fiscal chaos.

What’s Being Said

  • The U.S. administration argued that the lower court’s decision would “severely undermine the President’s trade agenda and will destabilise efforts to remedy our longstanding trade deficit.”
  • The Court of International Trade ruled that Trump had “exceeded his authority” and “misinterpreted the trade law cited as the basis for the measure.”
  • Administration officials noted there was a risk that “tariffs already collected, as well as future duties, could be permanently lost.”

What’s Next

  • The plaintiffs have seven days to submit their legal response to the appeals court regarding the temporary suspension of the lower court’s ruling.
  • If the appeals court ultimately decides against the administration, the case is expected to move to the Supreme Court for a final determination.
  • The 150-day limit stipulated in the 1974 trade law remains a looming deadline for the “emergency” solution regardless of the judicial outcome.

Bottom Line

By obtaining a temporary stay from the federal appeals court, the Trump administration has kept its global 10 per cent tariff policy on life support, ensuring that duty collection continues while the legal battle over presidential trade authority intensifies.

Naira weakens across FX markets as official, parallel rates converge

Trump downplays tensions with Xi Jinping over Iran war ahead of Beijing visit

By
Kehinde Victor
-

Key points

  • President Donald Trump stated he would have a “long talk” with Chinese President Xi Jinping regarding the ongoing war in Iran.
  • Trump expressed “100 per cent” confidence that he can stop Iran’s uranium enrichment and ensure they never obtain a nuclear weapon.
  • Despite U.S. sanctions on Chinese firms buying Iranian oil, Trump described Xi as having been “relatively good” regarding the naval blockade.
  • Peace negotiations remain stalled over Iran’s 440 kilogrammes of 60 per cent enriched uranium.
  • Trump reiterated that the United States would obtain Tehran’s stocks of highly enriched uranium but did not specify the method.

Main Story

President Donald Trump has downplayed potential friction with Chinese President Xi Jinping concerning the Iran war as he prepares for a high-profile summit in Beijing.

Speaking to reporters on Tuesday, May 12, 2026, Trump remarked that he and Xi would have “a long talk” about the conflict, while noting that the Chinese leader has been “relatively good” despite China remaining the primary purchaser of Iranian oil.

This comes as the U.S. Treasury Department continues to impose sanctions on Chinese refineries for unauthorized trade with Tehran. Trump signaled a positive personal rapport with Xi, describing the upcoming trip as “very exciting” and suggesting that “a lot of good things are going to happen.”

The diplomatic landscape remains tense as the war enters its third month. Peace efforts have stalled over the specific handling of Iran’s nuclear program, which includes approximately 440 kilogrammes of uranium enriched to 60 per cent.

During an interview with radio station 77 WABC, Trump expressed absolute certainty in his ability to halt Iran’s nuclear ambitions.

He also stated that the U.S. intended to take possession of Tehran’s highly enriched uranium stocks, though he left the details of such an acquisition open. When asked if Xi’s assistance was needed to resolve the war, Trump maintained that the U.S. did not require help with Iran.

The Issues

  • China’s status as the most important buyer of Iranian oil provides Tehran with a financial lifeline that complicates the U.S.-led naval blockade.
  • The presence of 440 kilogrammes of 60 per cent enriched uranium in Iran remains a central technical and security hurdle for any peace agreement.
  • Ongoing U.S. sanctions against Chinese companies create a recurring point of tension in Washington-Beijing relations despite the friendly tone of the presidency.

What’s Being Said

  • “I think he’s been relatively good, to be honest with you,” Trump told reporters regarding President Xi Jinping.
  • “You look at the blockade – no problem. They get a lot of their oil from that area. We’ve had no problem,” Trump added.
  • Asked if he was convinced he could stop Iran from obtaining a nuclear weapon, Trump said: “100 per cent. They’re going to stop.”
  • Regarding the prospect of Chinese assistance, Trump stated: “I don’t think we need any help with Iran.”

What’s Next

  • President Trump will depart for Beijing to engage in direct talks with President Xi Jinping on energy trade and regional security.
  • The U.S. Treasury is expected to monitor Chinese refinery activity for any further violations of unauthorized trade with Iran.
  • International nuclear observers will wait to see if the summit produces a concrete framework for the transfer or disposal of Iran’s 60 per cent enriched uranium stocks.

Bottom Line

President Trump is banking on personal diplomacy with President Xi to navigate the complexities of Chinese-Iranian oil trade while asserting total confidence in his ability to force the cessation of Iran’s nuclear enrichment program.

Dollar To Naira Exchange Rate Today, May 12th, 2026

Dollar To Naira Exchange Rate Today, May 12th, 2026

By
Boluwatife Oshadiya
-
BREAKING: CBN Officially Unifies All Exchange Rate Windows

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1375 per $1 on Tuesday, May 12th, 2026. The naira traded as high as 1367 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1387 on Monday 11th May, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1400
Buying Rate₦1387

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1375
Lowest Rate₦1367

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Governor Ahmadu Fintiri launches Adamawa’s E-Mobility initiative with Yola-assembled tricycles

Naira weakens across FX markets as official, parallel rates converge

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • The naira depreciated across both the official and parallel foreign exchange markets amid rising demand for dollars for offshore payments and business settlements.
  • The official exchange rate weakened to N1,373 per dollar, while the parallel market rate fell to N1,395 per dollar.
  • FX turnover at the official market declined significantly to $51.17 million from $78.15 million recorded at the previous session.
  • Nigeria’s external reserves dropped slightly to $48.33 billion, according to Central Bank of Nigeria data.
  • Analysts expect the naira to remain relatively stable in the near term, supported by sustained CBN interventions and improved foreign inflows.

Main Story

The Nigerian naira depreciated across major foreign exchange markets as mounting demand for dollars for offshore transactions and corporate settlements continued to pressure liquidity conditions.

Data released by the Central Bank of Nigeria (CBN) showed that the intraday exchange rate weakened to as low as N1,375 per dollar, while the strongest quoted rate for the session settled at N1,367 per dollar.

At the official Nigerian Foreign Exchange Market (NFEM) window, the local currency closed at N1,373 per dollar, reflecting a weaker performance compared to previous trading sessions.

Market turnover also declined sharply, with total interbank FX transactions falling to $51.17 million across 67 deals, down from $78.15 million recorded at the close of trading before the weekend.

The parallel market also reflected increased pressure on the local currency, with the naira depreciating to N1,395 per dollar amid persistent scarcity of dollar liquidity in the informal market segment.

As a result, the spread between the official and parallel market exchange rates narrowed to N21.84 per dollar from N32.61 per dollar recorded previously.

Despite the latest depreciation, the naira had posted gains in the preceding week after reversing earlier losses. At the official market, the currency appreciated by 1 percent week-on-week to close at N1,361.40 per dollar.

The naira had opened the previous week around N1,365.25 per dollar before strengthening to an intraweek high of approximately N1,355.85 per dollar.

Meanwhile, activity at the parallel market remained relatively unchanged on a weekly basis, with the currency closing flat at N1,400 per dollar.

Consequently, the premium between both market segments narrowed slightly to 2.84 percent, equivalent to N38.61 per dollar.

Further data from the apex bank showed that Nigeria’s gross external reserves declined marginally by $38.11 million to $48.33 billion.

The development comes as the CBN continues efforts to stabilise the foreign exchange market through periodic interventions, tighter monetary policy measures and reforms targeted at improving transparency and liquidity within the market.

The apex bank has also sustained efforts to clear outstanding FX obligations, improve diaspora remittance inflows and attract foreign portfolio investors into the Nigerian economy.

What’s Being Said

Foreign exchange analysts said the naira is expected to trade within a relatively stable range in the short term despite persistent demand pressures.

Analysts attributed the expected stability to continued interventions by the CBN, improved foreign portfolio investment inflows and ongoing market reforms aimed at enhancing liquidity and investor confidence in the foreign exchange market.

Market participants also noted that global oil price movements and Nigeria’s external reserve position would remain key factors influencing the direction of the naira in the coming weeks.

What’s Next

Investors and market participants are expected to closely monitor the CBN’s next policy actions, including possible FX interventions and liquidity management measures.

Attention will also remain on Nigeria’s external reserve performance, crude oil earnings and foreign capital inflows, all of which are critical to sustaining exchange rate stability.

Analysts expect the apex bank to maintain a tight monetary stance as part of broader efforts to curb inflationary pressures and defend the local currency.

Bottom Line

The naira remains under pressure from elevated dollar demand and declining market liquidity, although ongoing CBN interventions and improving investor sentiment continue to provide some support for exchange rate stability.

Dollar To Naira Exchange Rate Today, May 11th, 2026

Banks’ deposits at CBN facility decline after aggressive OMO auctions

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Deposit money banks’ placements at the CBN Standing Deposit Facility declined after aggressive Open Market Operations auctions.
  • The apex bank sterilised about N3.3 trillion from the financial system through multiple OMO auctions.
  • Money market liquidity fell by more than 13 percent to N4.92 trillion.
  • Overnight and Open Repo rates edged higher following tighter liquidity conditions.
  • Investor demand for OMO bills remained strong across all auction tenors.

Main Story

Deposit money banks reduced their placements at the Central Bank of Nigeria’s Standing Deposit Facility (SDF) window following aggressive liquidity mop-up operations conducted through Open Market Operations (OMO) auctions.

The Central Bank sterilised approximately N3.3 trillion from the financial system through two separate OMO auctions conducted last week, reinforcing its liquidity tightening strategy amid inflationary pressures and efforts to stabilise the foreign exchange market.

The liquidity withdrawal came despite inflows of about N2.71 trillion from matured OMO bills.

According to market data, the Nigerian money market liquidity position moderated by 13.18 percent to N4.92 trillion as banks’ deposits at the apex bank declined after participating heavily in the cash-intensive auctions.

Banks’ placements at the Standing Deposit Facility fell by 14.84 percent to N4.64 trillion from N5.44 trillion recorded previously.

At the close of the trading session, money market rates tightened marginally. The Overnight lending rate rose by two basis points to 22.21 percent, while the Open Repo rate settled at 22 percent.

During the first OMO auction conducted by the CBN last week, the apex bank offered N600 billion worth of bills across the 8-day and 134-day tenors.

Investor appetite remained strong, with subscriptions rising to N1.71 trillion, representing a bid-to-offer ratio of 2.9 times. Total allotments stood at N1.70 trillion.

Stop rates for the auction cleared at 21.90 percent and 19.97 percent respectively, with the apex bank fully allotting N1.07 trillion on the shorter 8-day tenor.

At the second auction conducted later in the week, the CBN offered another N600 billion across the 33-day, 75-day and 96-day maturities.

Demand again remained robust as total subscriptions reached N1.64 trillion, while allotments closed at N1.60 trillion.

Stop rates for the respective tenors settled at 21.57 percent, 20.63 percent and 20.45 percent.

The sustained investor interest highlights continued appetite for high-yield fixed income instruments amid elevated interest rates and tight liquidity conditions in the financial system.

The CBN has intensified OMO auctions in recent months as part of broader monetary tightening efforts aimed at controlling excess liquidity, moderating inflation and supporting the stability of the naira.

Nigeria’s inflation rate has remained elevated despite a series of monetary policy rate hikes implemented by the Monetary Policy Committee over the past year.

What’s Being Said

Coronation Merchant Bank stated that the apex bank sterilised approximately N3.30 trillion through both OMO operations, underscoring the persistence of the CBN’s liquidity tightening measures.

Financial market analysts said the aggressive liquidity mop-up reflects the central bank’s commitment to reducing excess cash within the banking system and maintaining higher interest rates to combat inflationary pressures.

Analysts also noted that strong investor participation at the auctions signals sustained confidence in government securities despite prevailing macroeconomic uncertainties.

What’s Next

Market participants expect the CBN to sustain tight liquidity management measures in the near term as inflationary concerns persist.

Banks and investors are also expected to monitor future OMO auction stop rates and liquidity trends for indications of the apex bank’s monetary policy direction.

Analysts believe additional liquidity tightening measures could keep short-term interest rates elevated across the money market.

Bottom Line

The sharp decline in banks’ deposits at the CBN facility reflects the impact of aggressive liquidity sterilisation through OMO auctions, as the apex bank continues efforts to tighten monetary conditions, curb inflation and stabilise financial markets.

Lagos State inaugurates technical committee for commercial biogas and biomethane production
1...789...3,167Page 8 of 3,167

Recent Posts