Author: Naija Daily News

By Douglas Maha, with agency reports The sharp surge in global oil prices triggered by the escalating Iran–United States war is reshaping fiscal expectations for Nigeria’s 2026 budget, offering prospective major revenue windfall for the government and also raising the danger of increased inflation, exchange-rate instability and structural fiscal slippage. Nigeria’s Brent crude climb above the $100-per-barrel threshold, compared with benchmark assumptions of roughly $75–$80 in recent fiscal planning frameworks. This could significantly increase expand oil revenues if sustained through the budget cycle. Analysts estimate that every $10 increase in crude prices above the benchmark could translate into several hundred…

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a 74-year-old man, Ikwuakalom Nwakoro Emeka, at the Nnamdi Azikiwe International Airport in Abuja after discovering 11 kilograms of cocaine concealed in food items inside his luggage. The arrest occurred on Saturday, March 14, 2026, as the suspect attempted to board a British Airways flight BA082 bound for London. According to the agency, Emeka claimed he was travelling to the United Kingdom for vacation. However, a search conducted by NDLEA officers at the airport’s departure hall uncovered blocks of cocaine hidden inside ground dry pepper and carefully wrapped in…

The Kanam Development Association of Plateau State has raised alarm over the killing of no fewer than 20 security personnel, including local vigilantes, by bandits in Kanam Local Government Area of the state. The group said the security operatives were part of a patrol team ambushed by heavily armed bandits in the Garga area on Friday. It was gathered that the incident occurred around 4 p.m. when a combined team of military personnel and vigilantes travelling in two vehicles on routine patrol across Garga, Kyaram, Gyambau and neighbouring communities came under heavy attack near Wanka. In a statement issued on…

The Permanent Secretary of the Ministry of Defence, Richard Pheelangwah, has urged the Military Pensions Board (MPB) to prioritise the timely payment of pensions to retired military personnel. Pheelangwah made the call during a visit to the headquarters of the board in Abuja, according to a statement issued on Saturday by Queenet Iheoma-Hart on behalf of the Director of Press and Public Relations. He emphasised the critical role of the board in safeguarding the welfare of retired members of the armed forces and advised that pension payments should be prioritised ahead of those of serving officers. Describing military veterans as…

The Nigeria Security and Civil Defence Corps (NSCDC) in Imo State has arrested a 52-year-old orphanage owner, Tochukwu Ogaranya, alongside five pregnant women aged between 25 and 33 over alleged involvement in child trafficking. The command also disclosed that five newborn babies were rescued from the suspects. The NSCDC Commandant in the state, Basil Igwebueze, made this known on Saturday in Owerri while briefing journalists on recent operations carried out by the command. Igwebueze said the suspects, including an alleged accomplice identified as Godwin Nnamdi, 47, were apprehended at an orphanage in the World Bank area of Owerri, where they…

The Central Bank of Nigeria (CBN) has fixed 18 years as the minimum age for the registration of the Bank Verification Number (BVN) as part of new measures aimed at strengthening identity verification and improving security across Nigeria’s banking system. The directive was contained in a set of circulars issued by the apex bank to banks, financial institutions and payment service providers on March 12, 2026. Under the new rule, only individuals aged 18 and above will be eligible to enrol for a BVN. The CBN said the policy is intended to strengthen customer identification processes and reduce the misuse…

Members of a reconciliation committee drawn from camps loyal to the Minister of the Federal Capital Territory, Nyesom Wike, and governors of the Peoples Democratic Party (PDP) are expected to meet on Monday as efforts intensify to resolve the party’s prolonged leadership crisis. A senior PDP official, who spoke on condition of anonymity because he was not authorised to comment publicly, disclosed that the joint panel would reconvene to harmonise conditions presented by both factions in a bid to restore unity within the party. Officials from the governors’ camp, the Tanimu Turaki-led National Working Committee (NWC), and the party’s National…

Nigeria’s football community has been thrown into mourning following the death of former Super Eagles midfielder Henry Nwosu at the age of 62. The news of his passing was confirmed by former Nigerian international Segun Odegbami, who shared the announcement in an emotional message that quickly circulated across the country’s football community. Nwosu was widely regarded as one of the most talented midfielders of his generation. Renowned for his creativity, vision and composure on the ball, he played a key role during one of the most successful periods in Nigerian football. He was a prominent member of the Green Eagles…

The Economic and Financial Crimes Commission (EFCC) on Friday handed over a total sum of $225,895 and ₦62,790,000 to foreign victims of fraud from the United States and South Africa. EFCC spokesperson, Dele Oyewale, disclosed this in a statement issued in Abuja, noting that the restitution ceremony was presided over by the Secretary to the Commission, Mohammed Hammajoda. Representatives of the victims’ countries attended the event, including the Assistant Law Enforcement Attaché of the Federal Bureau of Investigation, Mike Fukuda, and the Acting High Commissioner of South Africa to Nigeria, Lindi Mminele. Speaking during the handover, Hammajoda described corruption as…

The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion as Federation Account revenue for February 2026 among the Federal Government, state governments and local government councils. This was disclosed in a statement issued on Friday by Bawa Mokwa, Director of Press and Public Relations in the Office of the Office of the Accountant-General of the Federation. According to the statement, the revenue distribution was approved during the March 2026 FAAC meeting held in Abuja. The committee stated that the N1.894 trillion distributable revenue consisted of N1.274 trillion from statutory revenue and N619.119 billion from Value Added…