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Breaking News
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Breaking News

Naira climbs to two-year peak at 1,347/$ amid strong FX inflows

by hassan February 20, 2026
written by hassan

Naira Strengthens to Near Two-Year High Amid Enhanced Forex Market Liquidity

The Nigerian naira has recently climbed to one of its most robust levels in almost two years, closing at ₦1,347.78 to the US dollar in the official foreign exchange market as of Monday, according to the latest macroeconomic insights from CardinalStone.

Year-to-Date Gains Reflect Improved Forex Market Dynamics

Since the start of the year, the naira has appreciated by approximately 6.9% within the official trading window. This upward movement is largely attributed to better liquidity conditions in Nigeria’s foreign exchange market, signaling a healthier supply-demand balance.

Persistent Disparity Between Official and Parallel Market Rates

Despite the naira’s official market gains, a notable divergence remains between the official exchange rate and the parallel (black) market rate. Initially, the parallel market traded at a premium of about 5.7%, but this gap has narrowed to roughly 3.2% following renewed interventions by the Central Bank of Nigeria (CBN) to stabilize the currency.

Central Bank’s Strategic Forex Interventions and BDC Policy Updates

CardinalStone highlights that the shrinking spread between official and parallel rates indicates stronger liquidity in the official market compared to the informal segment. Recently, the CBN authorized licensed Bureau de Change (BDC) operators to purchase foreign currency through authorized dealers at prevailing market rates. Each BDC is allowed to buy up to $150,000 weekly, contingent on compliance with Know-Your-Customer (KYC) protocols.

To prevent currency hoarding, BDC operators must offload any unused foreign exchange balances within 24 hours. Additionally, cash transactions are limited to 25% of total trades, with all settlements required to be processed through licensed financial institutions.

BDC Market Supply and Its Impact on Forex Stability

With 82 licensed BDCs currently operating, the potential monthly foreign exchange supply to this segment could reach around $50 million. This figure is significantly lower than the pre-pandemic monthly supply, which exceeded $1 billion. CardinalStone attributes this decline to improved forex market conditions that have reduced speculative demand and shifted most corporate foreign exchange requirements to the official market window.

This renewed supply has alleviated pressure on retail foreign exchange demand and contributed to narrowing the premium in the parallel market.

Implications for Foreign Investment and Currency Outlook

Market analysts caution that continued appreciation of the naira might lead foreign investors to reconsider their portfolio allocations. Nigeria’s carry trade remains appealing among emerging and frontier markets, attracting substantial foreign portfolio investment (FPI), with outstanding positions estimated between $12 billion and $14 billion.

Given that many of the 2025 capital inflows likely entered the market at exchange rates near ₦1,500 per dollar, a strengthening of the naira to a range between ₦1,200 and ₦1,250 could yield currency gains of approximately 22.4%. Such attractive returns may increase the risk of capital outflows, especially as political uncertainties intensify ahead of Nigeria’s upcoming general elections.

Looking Ahead: Navigating Forex Market Volatility

As Nigeria approaches a critical political cycle, the interplay between forex market liquidity, currency valuation, and foreign investment flows will be pivotal. Policymakers and market participants alike will need to monitor these dynamics closely to sustain the naira’s stability and support economic growth.

February 20, 2026 0 comments
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Breaking News

Kidnapped woman collapses and d!es in captivity; gunmen release six other victims after N25m ransom payment in Ekiti

by hassan February 20, 2026
written by hassan

Six Hostages Freed After N25 Million Ransom Payment in Ekiti Kidnapping Incident

Tragic Outcome as One Victim Dies in Captivity

Gunmen who kidnapped seven individuals from Erinmope-Ekiti in Moba Local Government Area, Ekiti State, have released six of the abductees following a ransom payment of N25 million. Unfortunately, one of the victims, Hawau Suleiman, passed away while in captivity, and her remains have yet to be located.

Details of the Abduction and Initial Demands

The abduction occurred on January 24, 2026, when armed assailants invaded the community and seized five women. Initially, the kidnappers demanded a hefty ransom of N100 million for their release. Among those taken were a nursing mother and a woman who was nine months pregnant at the time.

Harsh Conditions and Extended Captivity

During their ordeal, the hostages were forced to trek barefoot through dense forests spanning Ekiti, Kwara, and Kogi States, enduring weeks of hardship without adequate food or water. Hawau Suleiman reportedly collapsed from exhaustion during this grueling journey and later died.

Failed Negotiations and Additional Kidnappings

In an attempt to secure the release of the five women, two male relatives delivered N10 million to the kidnappers. However, the kidnappers rejected this amount and abducted the two men as well, increasing the total number of hostages to seven.

Release Following Ransom Payment

Sources confirm that the six surviving hostages were freed earlier this week after the family paid a ransom totaling N25 million. The victims were released at different locations across Kogi and Kwara States before making their way back to Erinmope.

Survivors’ Account of the Ordeal

Muhammad Soliu, one of the freed hostages, recounted the harrowing experience, describing the relentless trek through the forest and the emotional toll of losing a fellow captive. “We walked several kilometers barefoot, without food or water, moving from a forest in Kwara to the Kogi border. We had no hope of survival,” he said.

He added, “When the woman collapsed, we begged the kidnappers to help or at least allow us to carry her, but they threatened to kill us if we stopped. They forced us to keep moving without looking back. It was the most terrifying experience imaginable. We are appealing to the authorities to help recover her body so she can be properly buried.”

Captivity Duration and Medical Attention for Pregnant Victim

Soliu revealed that he and his brother were tied together during their captivity and were not allowed to communicate with the five women initially abducted. The brothers spent 11 days in captivity, while the women endured nearly a month. The expectant mother was reportedly taken to a hospital for medical care after her release.

Context and Broader Implications

This incident highlights the ongoing security challenges in parts of Nigeria, where kidnappings for ransom have surged in recent years. According to the Nigerian Security Tracker, kidnappings increased by over 30% in 2025 compared to the previous year, underscoring the urgent need for enhanced protective measures in vulnerable communities.

Communities like Erinmope-Ekiti continue to face threats from armed groups exploiting forested border areas, making coordinated efforts between state and federal security agencies critical to curbing such violent crimes.

February 20, 2026 0 comments
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Breaking News

“Sporty, why??? My house rent is gone” — Woman breaks down after losing rent money to betting

by hassan February 20, 2026
written by hassan

Emotional Viral Video: Woman Loses Rent Money to Sports Betting

A young woman recently captured widespread attention after sharing a heartfelt video online, where she tearfully disclosed losing her house rent money through sports betting.

The Heartbreaking Moment Shared on Social Media

The video, which quickly gained traction on the social media platform X (formerly Twitter), shows the woman visibly upset and crying as she explains how her attempt to increase her rent money through online betting ended in loss.

Risky Gamble with Rent Funds

According to reports, the woman used the money intended for her house rent to place a virtual bet, hoping to multiply the amount. Unfortunately, the bet did not pay off, leaving her without the funds needed for her accommodation.

Sports Betting and Financial Vulnerability

This incident highlights the growing concern around sports betting and its impact on individuals facing financial challenges. Recent studies show that in 2023, over 30% of young adults engaging in online betting have reported financial difficulties as a result. The lure of quick money often overshadows the risks involved.

Understanding the Broader Context

Similar stories have emerged worldwide, where people have jeopardized essential expenses like rent, groceries, or bills in hopes of winning big through betting platforms. For example, a 2022 survey in the UK revealed that 1 in 5 bettors had used money meant for essential living costs on gambling activities.

Watch the Emotional Video

Below is the video capturing the woman’s emotional breakdown after realizing the consequences of her lost bet:

Final Thoughts

This story serves as a cautionary tale about the dangers of gambling with money that is critical for basic needs. It underscores the importance of responsible betting and seeking help if gambling becomes a problem.

February 20, 2026 0 comments
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Breaking News

NAFDAC seals 18 warehouses in Niger over expired products worth N100m

by hassan February 20, 2026
written by hassan

 

 

The National Agency for Food and Drug Administration and Control (NAFDAC) has sealed 18 warehouses in Bida, Niger State, over the discovery of expired food and beverage products worth more than one hundred million naira.

 

A statement released by the Resident Media Consultant at NAFDAC, Sayo Akintola, said the warehouses were shut following a raid by the Agency’s Investigation and Enforcement team, acting on credible intelligence.

 

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Akintola said items recovered during the operation include about 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta, and other assorted expired products. Some of the items were reportedly already packaged for distribution.

 

He added that the managers of the affected warehouses of the company identified as BY Ventures were arrested for interrogation. He also said the Managing Director of the company, Alhaji Yusuf Nadabo, was invited for questioning, where he reportedly admitted ownership of the expired products.

 

‘’At the supermarkets, additional expired products and suspected counterfeit Goya oil were allegedly discovered. The two outlets have also been sealed”’ the statement read

 

The agency said the investigations are ongoing and that appropriate sanctions will be applied at the end of the process to serve as a deterrent.

 

February 20, 2026 0 comments
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Breaking News

AFCON 2025: Moroccan Court jails 19 Senegalese supporters over AFCON Final Chaos

by hassan February 20, 2026
written by hassan

Moroccan Judiciary Imposes Prison Terms on 19 Fans After AFCON 2025 Final Clashes

Background of the Incident

Following the heated conclusion of the 2025 Africa Cup of Nations (AFCON) final between Morocco and Senegal, Moroccan courts have sentenced 19 football supporters to prison for their involvement in violent disturbances. The unrest erupted after a contentious late penalty awarded to Morocco, which sparked outrage among Senegalese fans and led to pitch invasions and confrontations.

Details of the Convictions and Sentences

The convicted group includes 18 Senegalese nationals and one French citizen, all found guilty on charges such as vandalism of sports infrastructure and engaging in violent behavior during the event. After a rigorous hearing lasting over five hours, the presiding judge handed down varied sentences: 11 individuals received one-year imprisonment coupled with fines of approximately $550 each; four were sentenced to six months in jail with fines near $218; and the remaining four were given three-month terms alongside $130 fines. Defense attorney Naima El Guellaf confirmed these details to the Associated Press.

Reactions and Courtroom Atmosphere

The courtroom was charged with emotion as one defendant fainted upon hearing the verdict, and several others resisted orders to be taken to holding cells. Family members of the accused protested the severity of the sentences, asserting their innocence. Defense lawyers have announced plans to appeal the rulings, citing insufficient evidence to justify the convictions.

Context of the AFCON Final and Resulting Violence

The disturbances occurred after Senegalese players briefly exited the field in protest of the stoppage-time penalty decision favoring Morocco. This incident triggered some fans to throw objects onto the pitch and clash with security personnel, necessitating police intervention. Senegal ultimately secured a 1-0 victory in the final.

Impact and Official Responses

Authorities reported that the violent episodes caused extensive damage to stadium property, with losses estimated at over $476,000. The public prosecutor had advocated for the harshest penalties, emphasizing the defendants’ role in disrupting public order. The trial was attended by diplomats from Senegal and France, reflecting the international attention the case attracted.

Historical and Diplomatic Implications

While Morocco has previously encountered football-related violence, this case is notable for the exclusive conviction of foreign nationals. The aftermath of the final heightened tensions between Morocco and Senegal, with officials from both countries urging restraint amid rising inflammatory rhetoric on social media platforms.

Sanctions by the Confederation of African Football (CAF)

In response to the incidents, CAF imposed fines totaling $1 million on both Morocco and Senegal, alongside additional sanctions. Moroccan authorities have expressed their intention to appeal these penalties, labeling them as disproportionate. Despite the turmoil, senior representatives from both nations have reaffirmed their dedication to maintaining strong diplomatic and economic relations forged over decades.

Looking Ahead: Managing Sports-Related Unrest

This episode underscores the ongoing challenges faced by host nations in managing fan behavior during high-stakes international tournaments. With AFCON continuing to grow in popularity—drawing millions of viewers across Africa and globally—organizers and governments are increasingly focused on implementing robust security measures and fostering sportsmanship to prevent future disturbances.

February 20, 2026 0 comments
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Breaking News

A Nigerian man was k!lled by South Africans in Cape Town and nobody is saying anything.”- South African woman blows hot in trendy video

by hassan February 20, 2026
written by hassan

Outcry Over Media Silence Following the Murder of Nigerian E-Hailing Driver in South Africa

A recent tragic event in Cape Town has sparked intense debate about media coverage and xenophobia in South Africa. Isaac Satlat, a 22-year-old Nigerian student and e-hailing driver, was brutally murdered after picking up three passengers. Despite the shocking nature of the crime, many have criticized South African media outlets for their apparent lack of attention to the incident.

Details of the Incident

Isaac Satlat was pursuing a degree in mobile engineering while working as a ride-hailing driver to support himself. A few weeks ago, he accepted a ride request from two men and a woman. Tragically, these individuals strangled him to death during the trip. The horrifying attack was captured on his vehicle’s dashboard camera, providing undeniable evidence of the crime.

Media Response and Public Outrage

In the aftermath, a South African woman publicly condemned the media’s silence, highlighting a perceived double standard in reporting. She argued that if the roles were reversed—if a Nigerian had harmed a South African woman—the story would dominate headlines across all platforms. Instead, the murder of a Nigerian man has been met with near silence, raising concerns about bias and xenophobia within the country’s media landscape.

“If a Nigerian man was accused of drugging or assaulting women, or stealing phones, the blogs and news outlets would be flooded with stories. But now that a Nigerian is the victim of a brutal crime, there’s nothing. This selective outrage is unfair and shows deep-rooted prejudice,” she stated emphatically.

Context and Broader Implications

Isaac was reportedly preparing to graduate next month, making the loss even more poignant for his family and community. This incident has reignited conversations about the treatment of foreign nationals in South Africa, where xenophobic violence and discrimination remain pressing issues. According to recent reports, xenophobic attacks have increased by 15% in the past year, underscoring the urgent need for societal reflection and media accountability.

Call for Balanced Reporting and Justice

Advocates are urging South African media to provide equitable coverage of crimes regardless of the victim’s nationality. Balanced reporting is essential to fostering understanding and combating prejudice. The viral video shared by the South African woman has amplified calls for justice and transparency, demanding that the tragic death of Isaac Satlat not be ignored or minimized.

Watch the Viral Video

Below is the video where the South African woman passionately addresses the media’s silence and calls for fairness in reporting:

February 20, 2026 0 comments
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Breaking News

Kanye West’s daughter, North West follows im his footsteps as she signs record deal with Gamma

by hassan February 20, 2026
written by hassan
North West has marked a pivotal milestone in her burgeoning music journey by reportedly securing a recording contract with Gamma, an independent label known for its innovative approach.
As reported by Rolling Stone, the 12-year-old daughter of Kanye West and Kim Kardashian has officially inked a deal with Gamma, a music company founded by former Apple executive Larry Jackson. Notably, this is the same label collaborating with Kanye West on the release of his highly anticipated 12th studio album, Bully.
North West
This announcement comes on the heels of North’s latest single, “Piercing on My Hand,” which streaming platforms list as a joint release under North West and Gamma. The track debuted on February 6 and serves as both a bold artistic statement and a commentary on the media’s fascination with her distinctive, alternative fashion choices.
Just days before the single dropped, North sparked renewed online buzz by sharing a photo showcasing multiple dermal piercings on her hands, further emphasizing her unique style and personal expression.
In the song, the young artist raps, “Shopping in Japan, that’s where I always stand / Went to school two days, then I got banned,” reflecting her unconventional lifestyle and experiences as a homeschooled pre-teen.
“Piercing on My Hand” was first performed live in January during a concert in Mexico City, where North joined her father on stage in front of an audience of 40,000. The track’s production credits include Kanye West and Will Frenchman, highlighting the collaborative family effort behind the project.
With this new record deal and growing musical portfolio, North West is steadily carving out her own space in the music industry, blending youthful creativity with a bold, alternative edge that resonates with a new generation of listeners.
February 20, 2026 0 comments
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Breaking News

Even if you call soldiers, they cannot stop us” – Tension grips Kebbi community as terrorists issue threat letter, demand N100m

by hassan February 20, 2026
written by hassan

Heightened Anxiety in Utono Community as Terrorists Demand N100 Million Ransom

Residents of Utono community in Ngaski Local Government Area, Kebbi State, are currently engulfed in fear following the receipt of a threatening letter from suspected terrorist elements. The letter, which surfaced in the early hours of Thursday, February 19, 2026, demands a ransom of N100 million, purportedly as a prerequisite for the group to enter the town under the guise of “preaching.”

Threatening Ultimatum Sparks Widespread Panic

The message explicitly warned the community leaders against dismissing the threat, stating, “This is not a joke. We are coming to preach. You must pay us N100 million.” It further cautioned that refusal to comply would result in dire consequences, emphasizing that even military intervention would be ineffective in halting their advance.

Such intimidation tactics have historical precedence; the letter referenced a prior violent incident in Woru community, Kiama Local Government Area, Kwara State, where ignoring a similar threat led to multiple fatalities. This reference has intensified the community’s alarm.

Community Response: Fear and Precautionary Measures

A confidential source within Utono revealed that the letter has unsettled many residents, prompting urgent discussions about safety and contingency plans. “The mention of the Woru attack has made the threat even more terrifying. Families are already strategizing on how to protect themselves should the worst occur,” the source disclosed.

Government and Security Agencies Mobilize to Protect Residents

Confirming the letter’s authenticity, Alhaji Ahmed Idris, Chief Press Secretary to the Kebbi State Governor, informed Punch on Thursday evening that the state government has promptly activated security protocols to prevent any potential attack.

“I have just spoken with the Director of Security, who confirmed the situation and assured me that security forces have been deployed to the area,” Idris stated. He added that the government, in collaboration with security agencies, has intensified surveillance efforts, including aerial monitoring, to safeguard the community.

“The state government remains unwavering in its commitment to the safety of its citizens. His Excellency, the Governor, has been proactive on security issues, and this incident will be no exception,” Idris affirmed.

Contextualizing the Threat: Rising Security Challenges in Nigeria

This incident in Kebbi State reflects a broader pattern of escalating security threats across Nigeria’s northern and central regions. According to the latest data from the Nigeria Security Tracker, terrorist-related incidents have surged by 15% in the past year alone, underscoring the urgent need for coordinated counterterrorism strategies.

Communities like Utono are increasingly vulnerable to extortion and violence, with militants exploiting local governance gaps and limited security presence. Similar ransom demands have been reported in other states, such as Zamfara and Kaduna, where armed groups have targeted villages under the pretext of “protection fees” or ideological preaching.

Looking Ahead: Strengthening Community Resilience

Experts suggest that beyond military responses, empowering local communities through intelligence sharing, early warning systems, and socio-economic development is critical to mitigating such threats. For instance, in Plateau State, community policing initiatives have successfully reduced kidnappings and ransom demands by fostering trust between residents and security agencies.

As Utono grapples with this latest menace, the collaboration between government forces and community members will be pivotal in restoring peace and preventing further escalation.

February 20, 2026 0 comments
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Breaking News

Donald Trump calls ex-Prince Andrew’s arrest ‘a very sad thing’ and ‘so bad for the Royal Family’

by hassan February 20, 2026
written by hassan

Donald Trump Expresses Regret Over Arrest of Former Prince Andrew

Former US President Donald Trump conveyed his sorrow upon learning about the arrest of Andrew Mountbatten-Windsor, the ex-prince, who was taken into custody on allegations of misconduct in public office. The incident occurred on Andrew’s 66th birthday, following a police raid at his opulent Sandringham estate.

Trump’s Reaction and Comments on the Royal Family

Addressing reporters aboard Air Force One, Trump described the arrest as “a very sad thing” and lamented the negative impact it has on the British Royal Family. He emphasized his sympathy by stating, “It’s so bad for the Royal Family. It’s very, very sad.” Additionally, Trump praised King Charles III, calling him “a fantastic person” and mentioned the King’s upcoming visit to the United States.

Renewed Scrutiny Amid Epstein Document Release

The arrest of Prince Andrew comes in the wake of the US Department of Justice’s recent disclosure of over three million documents related to Jeffrey Epstein, the disgraced financier. These files have intensified investigations into Andrew’s connections with Epstein, including a widely circulated photograph showing the former royal in a compromising position with a young woman.

Details of the Arrest and Police Investigation

Andrew was detained for nearly a full day before being released on the evening of the raid, marking the first time a senior member of the British royal family has been arrested in modern history. Thames Valley Police confirmed that a man in his sixties was released but remains under investigation. Authorities also completed a search near Andrew’s Norfolk residence, Wood Farm.

Allegations and Official Responses

Reports suggest that the former Duke of York is suspected of sharing confidential information with Epstein during his tenure as a trade envoy for the UK government. Notably, King Charles III was not forewarned about the arrest, although Home Secretary Shabana Mahmood’s office was briefed early on the day of the incident.

King Charles III’s Statement on the Matter

In an unprecedented public statement, King Charles expressed “deepest concern” over the allegations against his brother and affirmed that “the law must take its course.” He underscored the importance of a thorough and impartial investigation by the appropriate authorities and pledged the royal family’s full cooperation. The King also refrained from further comment, emphasizing the family’s continued commitment to their public duties.

Upcoming Royal Visit Amidst Scandal

Despite the turmoil, plans remain for King Charles III and his heir, Prince William, to visit the United States in late April. This visit comes at a time when the royal family is grappling with one of its most significant controversies since the passing of Princess Diana.

Donald Trump comments on former Prince Andrew's arrest
February 20, 2026 0 comments
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Breaking News

Nigerian lady shares photo of shoes her father wanted to buy for her

by hassan February 20, 2026
written by hassan

A Nigerian Woman Reveals the Bata Shoes Her Father Intended to Purchase for Her

Kaego, a young Nigerian woman, recently took to social media to share images of Bata shoes that her father was considering buying for her. This candid post sparked conversations about parental choices and personal preferences in fashion.

Father’s Choice Sparks Reactions

On Friday, February 20, Kaego expressed her surprise and disbelief on her X (formerly Twitter) account, writing, “Jesus Christ, make una see wetin my papa dey ask me if I like.” Her reaction highlights the generational gap often seen in fashion tastes between parents and their children.

Visuals of the Shoes Shared Online

Bata shoes shared by Nigerian lady
Close-up of Bata shoes
Nigerian lady's Bata shoes

Understanding the Context: Bata’s Enduring Popularity

Bata remains a household name in Nigeria, known for its affordability and durability. Despite the rise of global sneaker brands, Bata shoes continue to be a staple for many families, especially in middle-income households. According to recent market data, Bata holds approximately 25% of the Nigerian footwear market share as of 2024, reflecting its sustained relevance.

Generational Perspectives on Footwear

Kaego’s post sheds light on the common scenario where parents prioritize practicality and value, while younger generations often seek trendy and branded footwear. This dynamic is not unique to Nigeria; globally, many young adults navigate similar differences in taste with their parents. For example, in the United States, parents might prefer classic leather shoes for their children, whereas the youth gravitate towards limited-edition sneakers.

Conclusion: Balancing Tradition and Modernity in Fashion Choices

The conversation sparked by Kaego’s shared photos underscores the ongoing negotiation between tradition and contemporary style preferences within families. While Bata shoes symbolize reliability and heritage, younger consumers are increasingly influenced by global fashion trends. This balance between honoring family values and embracing personal style continues to shape footwear choices across generations.

February 20, 2026 0 comments
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