Author: Naija Daily News

By Deborah Nnamdi The Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent, signaling a shift in its monetary stance. Governor Olayemi Cardoso announced the decision on Tuesday at the end of the Monetary Policy Committee (MPC) meeting in Abuja. In addition to lowering the benchmark interest rate, the committee retained the standing facilities corridor at +50 to -450 basis points around the MPR. The apex bank also left the Cash Reserve Requirements unchanged, maintaining 45 per cent for deposit money banks, 16 per cent for merchant banks, and 75…

A major fire outbreak on Monday afternoon disrupted flight operations at the international wing of Murtala Muhammed International Airport, Lagos, forcing several foreign airlines to divert their inbound flights to Abuja and airports in neighbouring countries. The inferno, which affected Terminal 1 of the country’s premier aviation gateway, led to the diversion of flights operated by British Airways, Lufthansa, and Emirates. The fire also triggered the temporary evacuation of 12 air traffic controllers stationed at the airport’s control tower. They were safely evacuated using cranes and other specialised equipment as emergency responders battled thick smoke and intense heat that engulfed…

A speeding truck killed a Lagos State Traffic Management Authority (LASTMA) officer and a pedestrian on Monday in the Badagry area of Lagos, the agency said on Tuesday. The accident occurred at the Badagry Roundabout inward Seme and involved a fully loaded SHACMAN truck owned by the Dangote Group, LASTMA General Manager Olalekan Bakare-Oki said in a statement. According to the agency, the truck driver failed to brake while approaching the roundabout, striking the traffic officer who was on duty before hitting a pedestrian. The vehicle continued for about 200 metres after the initial impact, killing another individual before coming…

Former Anambra State governor and Labour Party presidential candidate Peter Obi on Tuesday warned that Nigeria’s rising debt burden could worsen the country’s economic challenges if loans are not channelled into productive sectors. Obi’s comments followed recent World Bank data showing Nigeria as the institution’s third-largest debtor, with outstanding obligations estimated at $18.7 billion. Bangladesh ranks first at about $23 billion. “There’s nothing inherently wrong with borrowing,” Obi wrote on X. “Nations borrow to improve productivity and stimulate growth. Debt becomes a problem only when it finances consumption, inefficiency, or corruption rather than investment.” He argued that the sustainability of…

After weeks of uncertainty following the death of Deputy Governor Lawrence Ewhrudjakpo, Bayelsa State has a new deputy governor designate, following the nomination and confirmation of Pastor (Hon.) Peter Pereotubo Akpe by the State House of Assembly Governor Douye Diri on Tuesday forwarded Akpe’s name to the lawmakers, who approved the nomination shortly after deliberation, bringing an end to months of uncertainty that followed the death of former Deputy Governor, Senator Lawrence Ewhrudjakpo, on Dec. 11, 2025. Akpe currently serves as Chief of Staff at the Government House, a role in which he has been widely regarded as one of…

The U.S. House Committees on Appropriations and Foreign Affairs on Monday submitted a report to the White House detailing findings and recommendations on the alleged persecution of Christians in Nigeria. The submission follows President Donald Trump’s decision to redesignate Nigeria as a Country of Particular Concern, prompting an investigation led by Congressman Riley Moore and House Appropriations Committee Chairman Tom Cole into violence against Christian communities and broader security challenges in the country. Moore said the report was formally presented at the White House on Monday and described it as the result of months of bipartisan investigation. The inquiry included…

Lagos State accounts for 26% of the N4.002 trillion owed by Nigeria’s 36 states and the Federal Capital Territory (FCT) as of Sept. 30, 2025, underscoring the concentration of subnational debt in the country’s commercial hub, according to data released by the Debt Management Office (DMO). With a debt stock of N1.045 trillion, Lagos remains by far the most indebted state, reflecting its aggressive infrastructure financing and expansive urban development projects. Overall, subnational debt represents 2.61% of Nigeria’s total public debt of N153.29 trillion during the same period, with the federal government accounting for the majority of the national debt…

Nigeria’s Attorney General of the Federation has withdrawn a criminal case filed against senior lawyer Mike Ozekhome (SAN) by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), a court heard on Tuesday. The Director of Public Prosecution of the Federation, Rotimi Oyedepo (SAN), told the High Court of the Federal Capital Territory in Maitama that the Attorney General would review the case and determine the appropriate next steps. Justice Peter Kekemeke subsequently struck out the three-count charge, which included allegations of forgery, after the prosecution’s application was not opposed by the defence counsel, Paul Erokoro (SAN). Oyedepo had…

By Deborah Nnamdi Former Kaduna State Governor, Nasir El-Rufai, has filed a N1 billion fundamental rights enforcement suit against the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over the alleged unlawful invasion and search of his Abuja residence. In the suit marked FHC/ABJ/CS/345/2026, El-Rufai named the ICPC as the first respondent. He also joined the Chief Magistrate of the Magistrate’s Court of the Federal Capital Territory (FCT), Abuja Magisterial District; the Inspector-General of Police; and the Attorney-General of the Federation as second to fourth respondents, respectively. Through his team of lawyers led by Oluwole Iyamu, SAN, the former…

By Deborah Nnamdi The All Progressives Congress has defended the Minister of the Federal Capital Territory, Nyesom Wike, over his support for candidates of the ruling party in the February 21 Area Council elections in the FCT, insisting that he is constitutionally entitled to campaign for any candidate of his choice. Speaking on Channels Television’s Morning Brief on Monday, APC National Publicity Secretary, Felix Morka, dismissed criticisms trailing Wike’s involvement in the polls, stating that the former Rivers State governor acted within his constitutional rights. “If Nyesom Wike wants to go on campaigning for any candidate in any party whatsoever,…