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The Nigerian Naira concluded a week of steady gains on Friday, 13 March 2026, appreciating by 0.3% in the official market. Data from the Central Bank of Nigeria (CBN) showed the currency closed at N1,366.23 per dollar, up N5.27 for the week’s final trading session. This performance caps a five-day rally that began with the…
The Federation Account Allocation Committee (FAAC) has disbursed N1.894 trillion to Nigeria’s three tiers of government for February 2026. The distribution, approved during a meeting in Abuja on Friday, saw the Federal Government take N675.088 billion, while the 36 states shared N651.525 billion. The 774 local government councils received N456.467 billion. Although the total shared…
The Nigerian military has neutralised a high-value jihadist commander and 21 other insurgents in separate strikes across the north. Major General Michael Onoja, Director of Defence Media Operations, confirmed on Friday that troops killed Abu Yusu, the “Munzir” of Dursula, during a botched ISWAP raid in Yobe State. Meanwhile, a patrol in Benue State uncovered…
The Central Bank of Nigeria (CBN) has banned large-scale loan defaulters from accessing new credit and essential banking services. In a directive issued on 12 March 2026, the regulator ordered all financial institutions to immediately freeze the accounts of “large-ticket obligors” with non-performing loans. The move aims to instill credit discipline and protect the banking…
Nigeria has ended the era of “paper oil” by enforcing strict relinquishment rules for exploration licences. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that operators must now develop assets or lose them. This “drill-or-drop” provision, enshrined in Section 94 of the Petroleum Industry Act, targets companies that previously held blocks for decades without investment….
A Boeing 737-700 operated by Arik Air suffered extensive structural damage following a mid-air engine failure on 11 February 2026. A preliminary report by the Nigerian Safety Investigation Bureau (NSIB) reveals that at least 23 separate components were impacted when the Number 1 engine broke apart during a climb. The aircraft, registered as 5N-MJF, was…
Nigeria’s economy does not move in straight lines. It accelerates, stalls, pivots, and surprises. For institutional investors, portfolio managers, and FDI strategists operating in or around Africa’s largest economy, that unpredictability is not just a nuisance. It is a material risk. The question heading into 2026 is no longer whether Nigeria faces structural headwinds. It…
Chelsea captain Reece James has ended speculation over his future by signing a new six-year contract that will keep him at Stamford Bridge until the summer of 2032, committing the peak years of his career to the boyhood club he joined as a six-year-old . The deal, confirmed by the club on Thursday, secures the…
Elon Musk’s social media platform, X, has formally proposed changes to its controversial blue checkmark verification system in a bid to resolve a high-stakes dispute with European Union regulators, following a record €120 million ($138 million) fine imposed in December. The European Commission confirmed on Friday that it had received remedies from the company addressing…
The Iranian national football team has issued a firm rebuke to United States President Donald Trump, declaring that “no one can exclude” them from the 2026 World Cup after Trump suggested their participation would be inappropriate “for their own life and safety.” The war of words, playing out on social media platforms, has thrust the…
