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The Nigerian Naira opened the second week of March 2026 with a show of resilience, trading at 1,391.58 per dollar in the official Nigerian Foreign Exchange Market (NFEM) on Monday, March 9, 2026. This represents a slight appreciation from the 1,398.00 closing rate recorded last Friday. Market transparency remains at an all-time high as the…
A shipment of liquefied natural gas (LNG) from Nigeria has been diverted from its European course to Asia, as traders move to capitalise on a massive price premium in the Pacific. Shipping data from Kpler shows the tanker BW Brussels, which loaded at the Bonny Island terminal on February 27, abandoned its westward route toward…
The Central Bank of Nigeria (CBN) has ordered all commercial banks to undergo rigorous stress tests starting April 1, 2026. This directive arrives as the industry enters the final stretch of its recapitalisation journey, with a March 31 deadline for meeting new capital floors. The apex bank intends to measure how lenders would survive “extreme…
The Nigerian Army neutralized 45 terrorists in a high-stakes battle in the Danmusa Local Government Area of Katsina State on Friday. The victory, however, claimed the lives of a captain and two soldiers during a fierce exchange of fire. Commissioner for Internal Security and Home Affairs, Nasir Mua’zu, confirmed the encounter in a statement on…
Nigeria is attempting to pivot from a raw materials exporter to a value-adding industrial power. Delivering a keynote address at the Nigeria–German Economic Forum in Dortmund this week (March 3–5, 2026), Steel Development Minister Shuaibu Abubakar Audu said the country needs European partners to fix its broken industrial chain. The government wants to stop shipping…
President Bola Tinubu has moved to split the state’s monopoly on power transmission by creating the Grid Asset Management Company (GAMCO). The Federal Executive Council approved the plan on Wednesday to address the chronic instability of the national grid. Nigeria privatised its generation and distribution arms over a decade ago but kept the transmission lines…
The United States Embassy in Abuja has cancelled all visa appointments scheduled for Wednesday, 4 March 2026, citing “high potential” for violent protests. This precautionary measure follows the reported death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, during joint US-Israeli airstrikes over the weekend. American citizens residing in the Federal Capital Territory have been strongly…
The Nigerian Army has operationalised 170 forest guards to secure vulnerable communities in the Arewa Local Government Area of Kebbi State. Major General Bemgba Paul Koughna, Commander of Sector 2, Operation FANSAN YAMMA, formalised the deployment on Tuesday at the Kangiwa headquarters. The unit will operate under direct military control to flush out bandits and…
The family of Nasir el-Rufai has dismissed claims by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) that surveillance equipment and secret documents were seized from the former governor’s Abuja home. In a sharp rebuttal issued on Tuesday, the family described the allegations as “theatrical posturing” and a “work of fiction.” The dispute…
Explosions rocked the capitals of Qatar, Kuwait, and the United Arab Emirates on Monday as Iran sustained its third day of retaliatory strikes against American assets. Tehran insists its missiles and drones target US military sites rather than its Arab neighbours. Yet the reality on the ground tells a different story. Shrapnel and missed targets…
