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The presidential candidate of Allied Peoples Movement (APM), Oyo State Governor Seyi Makinde and his party have sued Abia State Government, the Governor, Alex Otti and two others over their alleged unlawful imposition of N200million mandatory campaign fee on any presidential candidate wishing to have his or her campaign materials displayed in any part of the state.

In the suit marked: HC/214/2026 filed at the High Court of Abia State through their lawyer, Musibau Adetunbi (SAN), the plaintiffs faulted the fee, arguing that it violated the Constitution, the Electoral Act 2026 and other relevant laws.

The claimants, who said they learnt about the fee while preparing to begin their nationwide campaign, argued that if every state was to impose such a huge fee, it would be impossible for any presidential candidate to abide by the campaign funding limit imposed by the Electoral Act 2026.

Listed along with the governor, as defendants in the suit are the state’s Attorney General, Abia State Signage and Advertisement Agency (ABSAA), and the state House of Assembly.

They raised six questions for the court’s determination and are praying for eight reliefs, including an order setting aside the regulations made by ABSAA in respect of political campaigns, including the imposition of campaign fee of N200million on presidential candidates or any amount.

They also want an order of injunction restraining the defendants and their agents from enforcing the campaign or signage fee and from ‘removing, defacing, destroying and obstructing the placement of the complaints’ political campaign billboard and outdoor advertisements within Abia State.

Makinde and the APM are seeking a declaration that by the combined operation of Item F Section 15(a) and (f) of the Third Schedule of the Constitution, Sections 92 and 99 of the Electoral Act, 2026 and sections 1(3) and 4(5) of the Constitution, the imposed campaign fee schedule of N200,000,000 by the ABSAA is inconsistent with federal legislation, unconstitutional, and null, and void ab initio.

They also want a declaration that by the provision of Section 99(2) of the Electoral Act, 2026, ABSAA’s imposition of N200million as campaign fee for presidential candidates in order to display campaign materials in Abia State’s advertising space is in contravention of the Electoral Act, 2026, which prohibits the employment of state’s apparatus or regulatory bodies to the advantage or disadvantage of any political party or candidate at an election and also contravenes the principle of level playing field for all contestants and political parties.

Justifying the need for the suit, the plaintiffs stated that by virtue of Item F, Section 15(a) and(f) of the Third Schedule of the 1999 Constitution (as amended) and Section 9(1) of the Electoral Act, 2026, INEC is the body exclusively vested with the power to make rules and regulations in respect of political campaigns for the candidates and political parties for the purpose of elections.

They argued that Section 99(2) of the Electoral Act 2026 strictly forbids using state apparatus,

including administrative bodies, regulatory boards, and pricing mechanisms to the advantage or disadvantage of any candidate and/or political party, adding that by publicly fixing an exorbitant fee, the defendants are using ABSAA as a state apparatus to constructively exclude non-incumbent candidates from public visibility.

The plaintiffs noted that under Section 92 of the Electoral Act 2026, the total expenditure for a presidential election campaign is strictly capped at N10billion nationwide, arguing that if other states and the Federal Capital Territory (FCT) were to impose such humongous amount, such a fee would constitute over 80 per cent of the allowed statutory limit, on bill boards alone, thereby making compliance with federal campaign spending limits a practical impossibility.

They argued that while Section 99 of the Electoral Act 2026 guarantees political candidates the unhindered right to campaign publicly once the statutory period opens, the defendants’ imposition of the exorbitant campaign fee of N200million contravenes the provisions of the Constitution and the Electoral Act, 2026.

The plaintiffs further argued that while outdoor signage regulation falls under the Residual List under State law, state regulatory powers cannot be exercised in a prohibitive or discriminatory manner that frustrates, contradicts, or overrides an Act of the National Assembly governing campaigns for elections.

They equally argued that by virtue of Sections 1(3) and 4(5) of the 1999 Constitution, any State law, public directive, or administrative regulation that is inconsistent with an Act of the National Assembly (the Electoral Act 2026) is null, void, and of no legal effect to the extent of its inconsistency.

The plaintiffs stated that unless the court swiftly intervenes to declare the imposed fee illegal and restrain the defendants, the APM’s presidential candidate will suffer irreparable harm to his constitutional right to seek public office, and the democratic principle of a level playing field will be severely compromised.

Nigeria has signed an agreement with the United States to acquire 12 AH-1Z Viper attack helicopters for the Nigerian Air Force (NAF).

The agreement was formalised during a beam-signing ceremony at Bell Textron in Amarillo, Texas, where the Chief of the Air Staff (CAS), Air Marshal Sunday Aneke, led a NAF delegation to mark the milestone.

This followed the federal government’s delivery of five new helicopters to the Nigerian Air Force (NAF) as part of efforts to strengthen air operations.

The platforms comprise three AW-109 Trekker B helicopters manufactured by Leonardo Helicopters of Italy and two H-125 helicopters produced by Airbus Helicopters.

In a statement, NAF spokesperson Air Commodore Ehimen Ejodame said the acquisition is part of the Nigeria-United States defence cooperation programme and is expected to strengthen Nigeria’s airpower capabilities in tackling current and emerging security threats.

He described the acquisition as a ‘major milestone in the NAF’s efforts to build a more capable and mission-ready force.’

He said, ‘The acquisition of the AH-1Z Viper helicopters represents an important milestone in our continuing efforts to build a more capable, professional and mission-ready Nigerian Air Force.’

The CAS said the acquisition reflected the Federal Government’s commitment to enhancing the operational effectiveness of the Armed Forces and ensuring that the NAF remained adequately positioned to fulfil its constitutional responsibilities.

He said the programme also aligned with his command philosophy of sustaining a highly motivated and professional force capable of delivering decisive airpower effects in synergy with surface forces to achieve national security objectives.

Aneke stressed the need to ensure that the capabilities being acquired translated into enhanced operational effectiveness in support of national security.

He expressed appreciation to President Bola Ahmed Tinubu for his ‘strategic leadership, unwavering support and commitment’ to strengthening Nigeria’s defence and security architecture.

The CAS also acknowledged the support of the United States Government, Bell Textron, Programme Management Air 276 and other stakeholders involved in the AH-1Z Viper programme.

He said sustained defence cooperation, technical collaboration and capability development were essential to the successful implementation of the programme, while reaffirming the NAF’s commitment to strengthening strategic partnerships and professional excellence.

The NAF delegation also inspected the AH-1Z Viper production line at the Bell Textron facility as part of the visit.

‘The acquisition marked another step in the Federal Government’s efforts to modernise the Armed Forces and expand the NAF’s capacity to provide air support for ongoing and future military operations,’ the statement said.

President Bola Ahmed Tinubu has warned that the Nigeria Police Force must not become an instrument of any political interest as Nigeria heads into the 2027 general election, insisting the force belongs to the nation, not to any political actor.

He gave the charge at the sixth annual Conference and Retreat for Senior Police Officers (CARSPO) in Owerri, themed: ‘Developing a Nigeria Police roadmap for effective management of election security.’

Representing the Secretary to the Government of the Federation (SGF), Senator George Akume, Tinubu said police impartiality was fundamental to public trust and the credibility of Nigeria’s democracy.

‘The police must be seen not as an instrument of any political interest, but as a national institution serving the Nigerian people and protecting the constitutional order,’ Tinubu said.

He said every Nigerian, regardless of political affiliation, ethnicity, religion, social status or geographical location, must feel protected by the police, and charged the force to maintain the highest standards of professionalism and impartiality in its electoral duties.

He promised full support for the Police ahead of the general election, saying the Federal Government would continue to support measures to enhance the force’s operational capacity, professionalism, welfare and institutional effectiveness.

According to the President, next year’s election demanded intelligence-led operations and close coordination among security and electoral stakeholders.

‘The Federal Government expects the Nigeria Police Force to maintain the highest standards of professionalism and impartiality in the discharge of its electoral responsibilities,’ Tinubu said.

He commended Inspector-General of Police, IGP Olatunji Rilwan Disu, for efforts to reposition the force, while acknowledging the sacrifices of officers battling kidnapping, banditry, terrorism, cultism and armed robbery across the country.

Also speaking at the event, Imo State Governor, Hope Uzodimma, explained that his administration’s decision to host the retreat for a third time and to continue committing state resources to security, despite policing being constitutionally a federal responsibility, was shaped by the trauma of April 5, 2021, when armed men attacked the Imo State Police Command Headquarters and the Owerri Custodial Centre, forcibly releasing 1,844 inmates.

‘Security ceases to be an abstract subject the moment fear begins to alter the ordinary rhythm of life, and the institutions expected to protect society are themselves under attack,’ Uzodimma said, adding that his administration could not treat insecurity as ‘somebody else’s assignment.’

He said prolonged insecurity carries a high economic cost, shrinking economic activity, driving businesses to shut down and pushing residents to relocate, which is why his administration has tied its security spending to its wider development agenda.

In his welcome address, IGP Disu unveiled a six-point agenda to guide police deployment for Nigeria’s 2027 general election, covering early intelligence gathering, rigorous training, joint command with sister agencies, rapid communication, partnership with the public and strict political neutrality.

Under the roadmap, the IGP directed that flashpoints and criminal networks be mapped immediately, with credible intelligence reaching commands in time for action. He warned that ‘a polling unit where these citizens feel unsafe is a polling unit where the election has already failed,’ referring to women, the elderly and persons with disabilities.

Officers would be trained in crowd management, the protection of electoral materials and personnel, and human-rights-compliant policing, while joint exercises with the Independent National Electoral Commission (INEC) and other agencies would establish clear lines of command before incidents occur.

Disu also raised concerns about election disinformation, directing that fake results, forged police statements and inflammatory videos be monitored and countered swiftly, with those who incite violence online facing prosecution.

Citing lessons from the recent Osun State governorship election, which he described as largely peaceful despite isolated cases of voter intimidation and inducement, Disu ordered a review of the Force’s intelligence, response times and training gaps.

He warned that any officer who takes sides, harasses voters or colludes with political actors during the elections would be investigated and punished, and directed all Commissioners of Police to publish official contact numbers for public access.

Disu tasked the retreat with producing a practical framework for training, deployment and command structure, insisting it must not become ‘another document on a shelf,’ and set a deadline of October 12 for a finished roadmap and an election-security taskforce.

He closed his address with a call-and-response charge to officers, urging them to be ‘Neutral. Prepared. Present. Accountable’ as they return to their commands.

On the Force’s operational scorecard, Disu said police have arrested 1,643 suspects and rescued 1,066 kidnap victims since his assumption of office in February, giving a breakdown of the eight-month tally: 251 terrorists and suspected bandits, 343 murder suspects, 566 armed robbery suspects and 483 suspected cultists arrested, alongside the recovery of 947 firearms and more than 22,000 rounds of ammunition.

He acknowledged the figures offered little comfort to Nigerians still living under the threat of kidnapping, banditry, terrorism and communal violence. ‘Numbers do not console a grieving family. We will not slow down on these threats because an election is coming. We will fight them and secure the elections at the same time,’ he said.

The IG paid tribute to officers who died in the line of duty and pledged improved welfare for their families and serving personnel, noting the retreat coincided with the International Day of Peace, marked globally under the theme ‘Invest in Peace -For Everyone, Everywhere, Every Day.’

The opening ceremony at the Emmanuel Iwuanyanwu International Convention Centre, Owerri, was attended by the Secretary to the Government of the Federation (SGF), representing President Bola Tinubu; Imo State Governor, Senator Hope Uzodimma; a representative of the Senate President; military and security chiefs; and captains of industry.

Organised annually by Lenders Consult in collaboration with the Force Headquarters and other sponsors, CARSPO provides a platform for police management and security stakeholders to chart a way forward for effective and accountable policing. Disu thanked Uzodimma for hosting the sixth edition of the retreat, commended Lenders Consult Nigeria Limited for its support, and praised Tinubu for backing the Force with improved welfare, equipment, recruitment and funding.

In their goodwill messages, former Inspectors General of Police (IGPs) Mike Okiro (rtd) and Usman Alkali Baba (rtd), along with the Police Service Commission (PSC), tasked the force with developing a standing roadmap covering issues ranging from criminal sponsorship of banditry to artificial intelligence- generated disinformation ahead of the general election.

Okiro said the country’ s security architecture was under severe strain, adding that unresolved allegations linking political, military, traditional and business interests to the funding of banditry and kidnapping had eroded public trust and complicated intelligence gathering.

He urged the retreat to confront the issue candidly, proposing that any roadmap should rest on three pillars: inter- agency synergy under a unified, police- led command structure involving the Army, the Department of State Services and the Nigeria Security and Civil Defence Corps.

He warned that police officers must resist political inducement, and that welfare and accountability for deployed personnel must take priority.

He called for closer international intelligence- sharing with INTERPOL and foreign counterparts to counter cross- border arms flows and offshore disinformation campaigns, and warned officers to prepare for fake news, AI- generated deepfakes, drone use by non- state actors, attacks on INEC facilities and attempts to kidnap candidates. He urged clear procedures for arrest, evidence preservation and prompt prosecution of electoral offenders.

Baba drew on his experience overseeing the 2023 general elections, which involved more than 176, 176,000 polling units and 93 million registered voters, and described it as one of the most complex security operations in recent history.

He attributed that outcome to planning, partnership through the Inter-Agency Consultative Committee on Election Security, and professionalism.

The retired police chief said the approach reduced ballot-box snatching and disruption compared with earlier elections, though attacks on INEC facilities, isolated violence, and misinformation persisted.

Baba called for a standing roadmap that institutionalises lessons from the 2019 and 2023 general elections and off-cycle polls in Kogi, Imo, Edo, Ondo, and Osun states, and that embraces intelligence-led, data-driven deployment.

He identified vote-buying, drone use, and AI-generated fake news as emerging threats, and named disinformation on WhatsApp, hacking of INEC and party databases, and election-themed financial scams as the main cybercrime risks. He said the police would work with INEC, telecommunications operators, and social media platforms, including Facebook, WhatsApp, and TikTok, to take down false content, and called for the protection of women, persons with disabilities, youths, and ad hoc INEC staff.

Representing the Chairman of the Police Service Commission, Commissioner (PSC) Hashim Agungun (rtd) and DIG Taiwo Lakanu (rtd) commended Disu for reforms, including intelligence-led and technology-driven policing, strengthened internal accountability, community engagement, and the establishment of a Violent Crime Response Unit. He said the force had prioritised officer welfare through housing, healthcare, and prompt payment of insurance benefits, in collaboration with the Nigeria Police Trust Fund, and had intensified training on the Electoral Act and rules of engagement for officers on election duty.

Lakanu cited the recent Osun State governorship election as an example of the force’s improved planning, including the strategic deployment of senior officers to protect voters, INEC personnel and electoral materials. He said the commission, which is constitutionally responsible for the recruitment, promotion and discipline of police personnel other than the Inspector-General, remained committed to supporting the force’s professionalism and public accountability.

Speakers urged that the retreat’s outcome translate into a practical, costed and time-bound roadmap owned by police commands, rather than end as a ‘talk shop,’ ahead of the 2027 polls.

The South South Reawakening Group (SSRG) is set to host a stakeholders’ roundtable conference on infrastructure, power generation and investment opportunities in Bayelsa State as part of activities marking the state’s 30th anniversary.

The conference, titled ‘Bayelsa @30 Roundtable: Focusing on Power Infrastructure and Its Value Chain Potentials’, will hold on Tuesday, September 22, 2026, at the Alamieyeseigha Banquet Hall in Yenagoa from 10am.

The event is expected to bring together experts from the investment, academic, electricity and regulatory sectors to examine challenges and opportunities in Bayelsa’s power sector and their implications for economic development.

Convener of SSRG, Joseph Ambakederimo, said the roundtable was designed to expand the conversation beyond electricity supply to the wider economic opportunities that could emerge from a functional power sector.

He said: ‘As Bayelsa marks 30 years, this is an opportunity to look critically at where we are, where we want to go and how reliable power infrastructure can support investment, industry, jobs and sustainable development.’

Ambakederimo said SSRG would continue to provide platforms for informed discussions on issues affecting Bayelsa and the wider South-South region.

The conference is part of the group’s recent engagements on development issues across the Niger Delta, particularly Bayelsa State.

In April, SSRG organised an infrastructure roundtable, Infrastructure Rebirth 2.0 Breakfast Roundtable, in Yenagoa to examine the state’s development trajectory.

In July, the group held a conference focused on infrastructure protection, electricity and continuity of development projects.

SSRG also organised a media breakfast in August to examine ‘Federalism with Equity: Fair Resources, Fair Opportunities’, including issues of resource control and fiscal federalism.

The September 22 roundtable will build on the previous engagements, with a specific focus on electricity and the wider economic value that can be created from Bayelsa’s power sector.

Veteran journalist Daniel Abia will moderate the discussion, while Ambakederimo, an Associate Environmental Professional, will deliver the welcome and keynote address.

Expected resource persons and panellists include Ebipere (Ebi) Clark, Senior Investment and Advisory Professional and Managing Partner, Frontier Alpha LLC; Professor Francis Sikoki, Dean, Faculty of Basic and Applied Sciences, Niger Delta University; Engineer Olice Kemenanabo, Managing Director, Bayelsa Electricity Company Limited; and Dr Rosalyn Dressman, Director-General, Bayelsa Electricity Regulatory Agency.

The Federal Government has threatened to shut down the Lagos-Calabar Coastal Highway within two weeks if persistent vandalism, indiscriminate parking, overspeeding and other illegal activities on the road are not brought under control.

The Federal Controller of Works in Lagos State, Olufemi Dare, who issued the warning during an inspection of the highway, said the decision followed worsening security and safety challenges on the road.

He said the Minister of Works had directed that the road be shut down if there was no significant improvement within two weeks, noting that the Lekki-Epe Expressway remained an alternative route.

He said, ‘In another two weeks, if there is no improvement, His Excellency has directed that it is coming back to shut down the road.’

According to him, lives are being lost regularly on the road as motorists ignore the 30km per hour speed limit imposed because construction is still ongoing.

‘People come to the coastal road and get to a speed of 120km per hour on the coastal road, and where construction is going on. Bridge construction is going on.

‘We have said your speed on the coastal road must not be more than 30km per hour,’ he said.

The controller also warned truck and articulated vehicle operators against parking along the highway, saying enforcement would be intensified.

Dare said the Federal Government was also cracking down on illegal U-turns, commercial motorcycles, tricycles, animal grazing, street trading and illegal settlements along the highway.

He said more than 100 commercial motorcycles were arrested on the road in the previous week alone.

‘Okada is completely banned. Keke Maruwa is completely banned. All manner of tricycles are banned on the coastal highway,’ he said.

He added that illegal occupants and shanties along the road would also be removed, while hawking and sleeping on the median would no longer be tolerated.

The controller expressed concern over extensive vandalism of infrastructure installed along the highway, including clear-view fencing, directional signs and manhole covers.

He said about five kilometres of clear-view fencing had been removed, while manhole covers covering an estimated 18 kilometres had also been vandalised and taken away.

According to him, the vandals operate mainly at night, despite police patrols along the route.

‘They come in the night; they remove the clear-view fence that was used to barricade the communities from the coastal highway. They remove it; they cut it,’ he said.

Dare disclosed that the government was considering replacing the clear-view fence with concrete block walls due to repeated vandalism.

He said that although the clear-view fencing was easier and faster to install, vandals often removed it within days.

‘In areas where we have block walls, to this day, we do not have any problem with them. But you see, it is easier and faster to install this fence. And it’s beautiful. You saw it. It’s beautiful to behold. But if you install it today, in less than one week, it’s gone,’ he said.

He also disclosed that some members of the coastal guard initiative had been attacked while trying to protect the infrastructure, adding that two guards had been stabbed.

Dare said the coastal guard scheme was being reorganised and would operate under the direct supervision of the Lagos State Commissioner of Police.

He said members would be recruited from communities along the highway to monitor and protect sections within their communities.

‘We want to make it community-based. So each community will volunteer members of this Coastal Guard to guard their location where their community is located,’ he said.

He added that traditional rulers, including baales and obas in communities along the route, had been informed and were being involved in the security arrangement.

First Lady Oluremi Tinubu has urged Nigerians to make their homes the starting point for building a more peaceful nation, saying enduring peace must take root within families before extending to the wider society.

Mrs Tinubu made the call on Monday in her message commemorating the 2026 International Day of Peace, marked annually on September 21.

She said the responsibility for creating a peaceful society rests on everyone, stressing that the values required to sustain harmony should be cultivated in homes and carried into schools, workplaces and communities.

‘Peace begins in our homes and extends to our schools, workplaces, and communities. It is strengthened through tolerance, patience, justice, mutual respect, and dialogue’, the First Lady said.

Reflecting on this year’s theme, ‘Invest in Peace-For Everyone, Everywhere, Every Day’, Mrs Tinubu said lasting peace could not be achieved without the commitment and participation of all members of society.

‘The ‘International Day of Peace 2026’, with the theme ‘Invest in Peace-For Everyone, Everywhere, Every Day,’ reminds us that lasting peace requires the commitment and participation of all of us’, she said.

The First Lady also urged Nigerians to resist tendencies capable of deepening divisions in the country and instead strengthen the values and bonds that unite them.

‘I encourage all Nigerians to reject division and embrace the values that unite us as one people. Let us invest in peace through our words, choices, and actions every day’, she said.

Mrs Tinubu emphasised that peace should be reflected not merely in public declarations but also in the everyday choices and conduct of citizens towards one another.

She said tolerance, patience, justice, mutual respect and dialogue remained essential ingredients for peaceful coexistence, beginning at the family level and extending across society.

The First Lady wished Nigerians and the international community a happy International Day of Peace 2026.

Doha-based humanitarian organisation Qatar Charity has announced a $10 million investment in an integrated housing project in Nigeria.

The Abuja integrated housing project is part of a major effort to scale up sustainable development and social welfare projects nationwide.

Details of the strategic expansion were finalised during a courtesy visit by Nigeria’s Ambassador to Qatar, Prof. Mahmood Yakubu, to Qatar Charity’s headquarters in Doha, where he held formal talks with Executive Vice President and Global Programs Officer Nawaf Abdullah Al-Hammadi.

The meeting focused on expanding Qatar Charity’s long-term development presence in Nigeria, prioritising sustainable community interventions over short-term relief. Central to this plan is the Gaduwa housing development in Abuja, which will feature residential units alongside an on-site health clinic and a school.

Welcoming the investment, Prof. Yakubu assured Qatar Charity of the Nigerian Embassy’s commitment to facilitating diplomatic clearances and inter-agency coordination to help replicate the integrated housing model across other regions in Nigeria.

‘Qatar Charity has demonstrated a genuine and practical commitment to the well-being of Nigerian communities,’ Prof. Yakubu said.

‘Housing alone is not enough; access to basic healthcare and education must go hand in hand. We see this partnership as contributing not only to development outcomes on the ground but also to the wider framework of Qatar-Nigeria relations.’

Nigeria today assumes a higher ranking in the global investment market as the country’s designation as a frontier market deepens its ability to attract foreign direct and portfolio investments.

Following extensive macroeconomic and institutional reviews, FTSE Russell, a global market assessor that serves institutional investors worldwide, is upgrading Nigeria from ‘Unclassified’ to ‘Frontier Market Status’, effective from beginning of trading today.

The confirmation of the upgrade followed extensive reviews of Nigeria’s foreign exchange (forex), liquidity, capital repatriation, market infrastructure and overall macroeconomic environment.

With the upgrade, 30 Nigerian companies are featuring in FTSE Frontier Index Series, providing increased global prominence for Nigerian capital market and its quoted companies.

The addition of 30 companies to the FTSE Frontier Index Series is expected to further stimulate global investors’ appetite for the Nigerian market.

These eligible companies included Guaranty Trust Holding Company (GTCO) Plc, Zenith Bank Plc, MTN Nigeria Communications Plc, Dangote Cement Plc, Stanbic IBTC Holdings Plc, Aradel Holdings Plc, First HoldCo Plc, Nestlé Nigeria Plc, Nigerian Breweries Plc and Presco Plc.

Other listed Nigerian companies were Oando Plc, United Bank for Africa, Okomu Oil Palm Plc, Access Bank Plc, Dangote Sugar Refinery Plc, FCMB Group Plc, Fidelity Bank Plc, Guinness Nigeria Plc, Unilever Nigeria Plc, Wema Bank Plc, Custodian and Allied Insurance Plc, Fidson Healthcare Plc, Julius Berger Plc, NASCON Allied Industries Plc, Nigerian Aviation Handling Company (NAHCO) Plc, Nigerian Exchange Group (NGX Group) Plc, Vitafoam Nigeria Plc, Sterling Financial Holdings Company Plc, Transnational Corporation of Nigeria (Transcorp) Plc, U A C of Nigeria Plc and United Capital Plc.

SandP Dow Jones Indices had also placed Nigeria on its Watch List for potential reclassification to Frontier Market status as part of its 2027 Country Classification Annual Review.

Group Managing Director, Nigerian Exchange Group (NGX Group), Mr. Temi Popoola, yesterday described the upgrade as a gateway that opens the door to greater international attention on Nigeria, with a chance to translate global visibility into meaningful, long-term investment.

He said: ‘Nigeria’s restoration to FTSE Russell’s Frontier Market status is an important recognition of the progress made in our capital market and the strengthening of the infrastructure that supports it’.

He pointed out that the timing of the upgrade is particularly significant as there have been renewed interest from major Nigerian businesses in the capital market as a route to mobilise capital and broaden ownership.

He noted that all stakeholders now have the responsibility to ensure that the market has the efficiency, accessibility and depth investors need to participate with confidence.

‘At NGX Group, we remain focused on strengthening the connections between Nigerian enterprise and capital, at home, across Africa and around the world. The next chapter is about turning renewed global interest into greater capital formation, broader participation and a market that can play an even more significant role in financing Nigeria’s growth,’ Popoola said.

The confirmation of the upgrade to ‘Frontier Market Status’ by FTSE Russell Index Governance Board was sequel to favourable reports by FTSE Equity Country Classification Advisory Committee, which affirmed that there were no ‘no material settlement, operational or funding issues’ around the Nigerian market, even with the transition from a three-day, T+2 transaction cycle to a two-day, T+1 settlement cycle. Nigeria had transited from a T+2 to T+1 settlement cycle on June 1, 2026.

Nigeria had been downgraded to ‘Unclassified’ status in 2023 due to challenges around forex liquidity and capital repatriation as the country grappled with depleted forex reserves, overdue forex obligations, low national revenues, and a spiraling black market in the face of officially pegged but unavailable forex.

President Bola Ahmed Tinubu’s administration took decisive decisions to unify the forex rates under a market-determined framework, remove petrol subsidy and implement string of other reforms that redirect the country’s macroeconomic outlook.

Experts were unanimous on the positive impact of the upgrade for the Nigerian capital market and the economy generally.

President, Chartered Institute of Stockbrokers (CIS), Dr Fiona Ahimie, said the upgrade should be positive development for foreign portfolio investment, as it restores the country’s visibility and eligibility within the FTSE Russell global index framework.

She explained that the upgrade places Nigerian equities back on the radar of global frontier-market investors and gives index-tracking funds the opportunity to consider Nigerian stocks within their investment universe.

‘For the domestic market, the more meaningful benefits could emerge gradually through improved liquidity, broader investor participation and stronger valuations. Increased foreign participation could boost trading activity and potentially reduce the valuation discount attached to Nigerian equities, especially large and liquid stocks that are more accessible to international investors,’ Ahimie said.

Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe noted that the upgrade was significant because it enhances the international visibility and credibility of the Nigerian capital market.

He said: ‘It signals that some of the market-access concerns that previously limited Nigeria’s participation in global investment indices are being addressed. This could encourage international fund managers, institutional investors and research analysts to pay greater attention to Nigerian equities. Over time, increased visibility can improve price discovery, deepen market participation and strengthen the ability of Nigerian companies to attract international capital through the equities market.’

‘More importantly, the development could strengthen Nigeria’s position within the global capital-market ecosystem. Greater foreign participation would potentially increase market liquidity, broaden the investor base and improve the efficiency of capital allocation. It could also encourage Nigerian listed companies to improve corporate governance, disclosure and investor-relations practices as they compete for international capital’.

Managing Director, GTI Capital, Mr Kehinde Hassan, said the upgrade sends a positive signal to the global investing public on tradability of the Nigerian market.

He expressed optimism that the country would remain within positive radar of global investors, rating agencies and assessors, citing continuing improvements in the country’s forex liquidity and general macroeconomic outlook.

Hassan added that the upgrade could provide impetus for a market recovery as foreign inflows improve.

The Federal High Court in Port Harcourt, Rivers State, has granted a Mareva injunction restraining Fairmont Petroleum Limited from withdrawing, transferring, or dissipating funds in its bank accounts over an alleged debt of $274,620 and N256,976,600 owed to PP Energy Suppliers Limited.

Justice Phoebe M. Ayua made the order in suit marked FHC/PH/CS/157/2026, following an ex parte application filed by ThankGod E. Nwugha, counsel to PP Energy Suppliers Limited.

In the motion ex-parte, the plaintiff sought an order restraining the defendant from withdrawing or tampering with funds in its bank accounts up to the value of the alleged indebtedness, pending the hearing and determination of the Motion on Notice.

PP Energy Suppliers also asked the court to restrain Fairmont Petroleum from dealing with, transferring, selling, or otherwise dissipating its movable and immovable assets, shares, and funds held in any financial institution.

Furthermore, the plaintiff requested an order directing all commercial banks in Nigeria to disclose, on oath, the balances standing to the credit of Fairmont Petroleum within seven days of being served with the court order.

In urging the court to grant the prayers, Nwugha submitted that the outstanding sums represented hire charges for the use of the plaintiff’s vessel, MV Ocean Lady Tiana, for mooring, pushing, towing marine equipment, and other professional services rendered to Fairmont Petroleum.

Counsel informed the court that the services were rendered from 777 Jetty, Port Harcourt, to Fairmont Petroleum’s operational base at Cawthorne Channel 1 and Bonny Anchorage, within Port Harcourt’s coastal and territorial waters.

The motion was brought pursuant to Section 251(1)(g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended); Sections 2(3)(f) and (1) of the Admiralty Jurisdiction Act; Orders 1 and 21, Rule 9 of the Admiralty Jurisdiction Procedure Rules, 2023; Orders 26, 28, and 30 of the Federal High Court (Civil Procedure) Rules, 2019; and the court’s inherent jurisdiction.

After considering the affidavit of urgency and an affidavit in support deposed to by Patrick Otuya, as well as the submissions of Nwugha-who led H. Aigbiremolen Esq. and N. C. Kanu Esq.-Justice Ayua granted the Mareva injunction.

Specifically, Justice Ayua issued the following orders: ‘An order of Mareva injunction of this Honourable Court is made restraining the Defendant from withdrawing, tampering with, or otherwise dissipating the funds in its bank accounts in any bank or other financial institutions within Nigeria up to the sum of $274,620.00 and N256,976,600.00 respectively, being the outstanding hire sum accruable to the Plaintiff’s vessel, MV Ocean Lady Tiana, for mooring, pushing, and towing the Defendant’s marine equipment and other professional services rendered from 777 Jetty, Port Harcourt, to the Defendant’s operational base at Cawthorne Channel 1 and Bonny Anchorage, within the territorial waters of Nigeria and the jurisdiction of this court, pending the hearing and determination of the Motion on Notice.

‘An order of this Honourable Court for a Mareva injunction is made restraining the Defendant from dealing with, dissipating, transferring, selling, or otherwise tampering with any assets (be it movable or immovable), shares, or funds in any financial institution, pending the hearing and determination of the Motion on Notice.

‘An order of this Honourable Court is made directing the Plaintiff/Applicant to serve the Defendant with the Summons, Ex Parte Order, Writ of Summons, Motion on Notice, and the Order of Mareva Injunction before the next adjourned date of September 30, 2026, for the hearing of the Motion on Notice.

‘Hearing Notice shall be issued and served on the Defendant/Respondent before the next adjourned date.’