Category: Nigerian Tribune

As early as 7 a.m. on Monday, security operatives comprising police and military officers took over the protest grounds.

In a viral video, Sowore could be seen running for his life alongside other protesters.

The protesters had intended to march to Aso Rock Villa to demand the release of the leader of the proscribed Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu.

The security operatives fired tear gas canisters at the protesters, including Sowore.

The protest was planned to take off from the Transcorp Hilton area and other parts of the Federal Capital Territory, but the police moved in early, firing multiple rounds of tear gas to disperse participants and passers-by.

The operatives, who had cordoned off the hotel and adjoining streets, began firing tear gas even before protesters arrived in large numbers.

The Governor of Katsina State, Malam Dikko Umaru Radda, has reaffirmed his administration’s unwavering commitment to transforming the state’s power and energy landscape through collaboration, innovation, and strategic partnerships.

Governor Radda, alongside the Governors of Kano and Jigawa States, participated in a two-day high-level strategic meeting with the leadership of the Kano Electricity Distribution Company (KEDCO) and Future Energies Africa held in Marrakech, Kingdom of Morocco.

Speaker of the Katsina State House of Assembly, Hon. Nasir Yahaya Daura, and the Special Adviser to the Governor on Power and Energy, Dr. Hafiz Ibrahim Ahmed, were also in attendance. The Katsina delegation also included Abubakar Abdullahi Matazu, General Manager of the Rural Electrification Board (REB), and Engr. Abdulaziz Kabir Abdullahi, representing the Department of Power and Energy.

The meeting focused on developing a coordinated framework for expanding electricity access to unserved and underserved communities, enhancing grid stability, and improving energy security across the three states. Discussions also centered on the establishment of a Joint Regulatory Commission, designed to harmonize regional energy policies and strengthen public-private partnerships for sustainable electricity delivery.

Governor Radda reiterated Katsina State’s commitment to leveraging its vast renewable energy potential-particularly in solar and wind resources-to support both domestic and industrial demand. He emphasized that energy remains the bedrock of economic development and expressed the state’s readiness to work with credible partners to ensure affordable, reliable, and sustainable power for all citizens.

‘Our administration is determined to bridge the energy access gap and ensure that every sector-from education and healthcare to agriculture and industry-benefits from stable and clean electricity,’ Governor Radda stated. ‘This partnership with KEDCO and Future Energies Africa aligns with our blueprint for sustainable growth and reflects our shared vision for regional energy integration.’

The meeting concluded with a shared resolution among the three governors to pursue coordinated investments in power infrastructure, accelerate renewable energy deployment, and attract credible investors through transparent and investor-friendly policies.

The engagement in Marrakech marks another bold step in the Radda administration’s drive to position Katsina State as a model for subnational energy leadership in Northern Nigeria and a key player in the nation’s energy transition and economic diversification agenda.

The Niger State Police Command has arrested an 18-year-old boy, one Victor Ugwu, a resident of Easy Life Street, Kaduna Road, Niger State, over allegations of involvement in a dating scam and impersonating a woman.

Ugwu, who allegedly claimed to be working at a company in Kaduna, was said to have been sending pictures to his contacts on Facebook and TikTok to lure them into romantic relationships.

Confirming the incident, the spokesman of the state police command, SP Wasi’u Abiodun, narrated that on October 16, 2025, at about 6:00 p.m., a patrol team attached to Maje Division, Suleja Local Government Area, while on routine patrol along Kaduna Road, intercepted the suspect during a public argument with one Peter of the same area.

Abiodun explained that Ugwu had been contacted by Peter, who wanted to meet a lady that Victor claimed to work with. Instead of introducing Peter to his colleague, the suspect allegedly chose to dress up as a woman, took self-pictures, and sent them to Peter via social media. He also reportedly requested money from Peter while pretending to be the lady in the pictures.

Upon further interrogation, Peter stated that within the past year, he had contacted Ugwu to link him up with the said lady, who was supposedly the suspect’s colleague.

The police spokesman further disclosed that during the investigation, a search was conducted in the suspect’s residence, where a wig and female clothing were recovered as exhibits.

Economic and Financial Crimes Commission (EFCC) recovered assets valued at over ?500 billion within the two years of President Bola Tinubu’s administration, according to Vice President Kashim Shettima.

Shettima made the revelation on Monday while declaring open the 7th edition of a three-day capacity-building workshop for judges and justices, jointly organised by the EFCC and the National Judicial Institute in Abuja, according to Channels TV.

He said the government’s policy of non-interference in the operations of anti-graft agencies has strengthened the fight against corruption and improved institutional accountability.

‘As an administration, we have prioritised public accountability by strengthening the anti-corruption agencies and giving them the needed independence to execute their statutory mandates.

‘This enabling environment is evident in the impact that has been made in the last two years. The EFCC, for example, has recorded over 7,000 convictions and recovered assets in excess of ?500 billion,’ Shettima, who represented President Tinubu at the event, said.

The Vice President stated that proceeds from recovered assets are being channelled into key developmental initiatives such as the students’ loan and consumer credit schemes.

‘Recovered proceeds of crime by the agency (EFCC) are being brought back into the economy to fund critical social investment programs, including the students’ loan and consumer credit schemes.

‘We are equally working within the boundaries of separation of powers to support the judiciary in improving the working conditions of judicial officers.

‘The remuneration of judges has improved, and we are committed to further enhancement of their welfare and facilities,’ he said.

Reaffirming the administration’s commitment to the rule of law, Shettima maintained that President Tinubu does not shield political allies from investigation or prosecution.

‘There is no person or group who can accuse this administration of protecting political actors. We have allowed both the judiciary and the anti-corruption agencies to exercise their powers to restore sanity,’ he added.

The Vice President urged judicial officers to uphold integrity and patriotism in their duties, stressing that corruption affects all segments of society.

‘Corruption is no respecter of persons. Judges are not insulated from its consequences. There are no special roads, hospitals, or communities for judges-we all face the same risks from the effects of corruption.’

He called for collaboration among all arms of government to strengthen the anti-corruption campaign.

‘A Nigeria free of corruption is possible if we all commit to doing what is right and ensuring that those who deviate from the norm are held accountable,’ Shettima added.

Nigeria and China have reaffirmed their shared commitment to advancing women’s empowerment and gender equality through strengthened policy cooperation, with both nations pledging to align their initiatives with the United Nations 2030 Agenda for Sustainable Development.

At the China Women’s Film Festival held in Abuja, government representatives and diplomats from both countries underscored the importance of cultural diplomacy and policy collaboration as tools for driving inclusive growth and sustainable development.

Minister of the Chinese Embassy in Nigeria, Zhou Hongyou, said China’s long-standing dedication to women’s empowerment is deeply rooted in its national policies, noting that gender equality remains a key metric in the country’s economic and social planning.

‘China has always believed that empowering women means empowering society,’ Zhou said. ‘Over the years, we have worked tirelessly to create equal opportunities in education and employment, ensuring that women are not only seen but heard, not only included but leading change in every sector.’

He added that China’s integration of women’s development goals into its five-year national plans has made gender equality a measurable part of national progress.

‘China has woven women’s development goals into its five-year plan for economic and social development, using the status of women as a key indicator for evaluating national growth,’ he said.

Zhou announced that the upcoming Global Women’s Summit will further align international efforts with the UN 2030 Agenda, focusing on policies that empower women as agents of sustainable progress.

‘This year’s summit will promote gender equality and women’s development, advancing the implementation of the UN 2030 Agenda for Sustainable Development,’ he added.

Honourable Gabriel Saleh Zock, Chairman of the House Committee on Culture and Creative Economy, commended China’s sustained partnership with Nigeria, describing it as a practical example of how cultural cooperation can reinforce gender policy and inclusion.

‘I commend the Embassy of China and the China Cultural Centre in Nigeria for their consistency in promoting cultural diplomacy,’ Zock said. ‘This partnership strengthens our creative and policy exchange, and it reflects our shared belief that women’s empowerment is central to national and global development.’

He revealed that the National Assembly is taking legislative steps to institutionalise women’s participation in governance.

‘We are currently working on constitutional amendments to reserve 30% of seats for women in governance. Our goal is to ensure that women take their rightful place in decision-making at all levels,’ he stated.

Delivering a goodwill message on behalf of the Minister of Women Affairs, H.E. Iman Suleman-Ibrahim, Ms. Rukkayah said the festival aligns with global advocacy for gender equality and the renewed commitment to the Beijing Declaration and Platform for Action.

‘This festival holds special significance as it coincides with global reflections on the Beijing Declaration-a framework that continues to shape three decades of advocacy for women’s rights and empowerment,’ she said.

She linked Nigeria’s current policy efforts to President Bola Ahmed Tinubu’s Renewed Hope Agenda, emphasising that women’s empowerment remains central to the administration’s social and economic reforms.

‘Under the Renewed Hope Social Impact Intervention Programme, the Federal Ministry of Women’s Affairs is driving transformative policies that strengthen families, empower women economically, and promote welfare for vulnerable groups,’ she explained.

Rukkayah noted that China’s experience in leveraging culture and technology for women’s development offers a valuable model for Nigeria.

‘Deepening collaboration with China holds immense potential for advancing women-led innovation, creative industries, and entrepreneurship,’ she added.

Mr Habib Hashim Habib, who represented the Minister of Art, Culture, Tourism, and Creative Economy, H.E. Hannatu Musa Musawa, said the film festival reflects how creative policy initiatives can support international cooperation and gender inclusion.

‘This festival is a vital cultural bridge between Nigeria and China,’ he said. ‘It celebrates women’s strength, creativity, and resilience, while reinforcing policy collaboration between both nations.’

He reaffirmed Nigeria’s readiness to deepen cooperation with China on cultural and gender development policies.

‘Nigeria remains firmly committed to working with China to promote cultural creativity, gender inclusion, and mutual understanding, ensuring that policy, art, and culture continue to drive unity, empowerment, and shared prosperity,’ he said.

Nigerian comedian and activist, Adebowale Adedayo, popularly known as Mr Macaroni, has reaffirmed his stance on the #EndSARS movement, declaring that Nigerians will never forgive or forget the events of October 20, 2020.

Commemorating five years since the incident in a Facebook post on Monday, he reflected on the tragic loss suffered by Nigerian youths, noting that many lost their lives, jobs, families, and dreams at the hands of corrupt leaders.

He maintained that despite some individuals’ continued loyalty to those in power, the events of October 20 would remain unforgettable and unforgivable.

He wrote, ‘Nigerian Youths lost their lives, jobs, families, and dreams at the hands of the most corrupt and evil People we call Leaders!!!

‘Even though some of us are deeply in love with our Oppressors, this day 20/10/2020 is never to be forgotten nor forgiven!

Across social media platforms, Nigerians have been marking the fifth anniversary of the #EndSARS protest, particularly the Lekki Toll Gate incident in Lagos, where peaceful demonstrators were allegedly shot at by security forces.

On Monday, many Nigerians took to X to honour the memory of those who lost their lives, sharing messages, prayers, and tributes in remembrance.

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An X user, @_DeeeCR7 tweeted, ‘To every soul we lost to police brutality and the End SARS protest – your courage still echoes. You deserved better, but Nigeria has only grown darker under this same wicked system. Rest on, heroes. Your sacrifice will never be forgotten.

Another user, @thisisdmt01 wrote, ‘RIP to the heroes we lost at the end sars protest, you’re never forgotten The 2020 protests witnessed one of the largest youth mobilisations in Nigeria’s history and attracted global attention. ‘

‘On this Day 20th October 2020 we lost our great youths during End SARS Pr0test we will never forget them in our hearts,’ @WonsoulPMGBM opined.

The #EndSARS movement, which began as a campaign against police brutality, quickly evolved into a nationwide call for justice, accountability, and good governance.

However, the demonstrations were overshadowed by violence, culminating in the Lekki Toll Gate shooting on the night of October 20, 2020.

The Nigerian equities market opened the week on a positive note, sustaining its bullish momentum as renewed investor appetite for bellwether stocks lifted the overall performance of the market.

The NGX All-Share Index advanced by 0.65 percent to close at 149,943.27 points, while market capitalisation appreciated by N612 billion to settle at N95.17 trillion.

Consequently, the year-to-date return strengthened to 45.68 percent, reflecting investors’ confidence in market fundamentals ahead of the third-quarter earnings season.

The uptrend was driven mainly by price appreciation in BUA Cement, having appreciated by 6.3 percent; MTN Nigeria by 1.2 percent, and FBN Holdings by 3.5 percent.

Market breadth closed negative as 32 stocks recorded losses against 30 gainers. On the performance board, Union Diagnostics added 10.0 percent; Sovereign Insurance appreciated by 6.4 percent, and Eunisell added 4.5 percent to top the gainers’ chart, while Juli lost 10.0 percent; Thomas Wyatt dipped by 9.6 percent, and DAAR Communications shaved 8.2 percent to lead the losers’ list.

Sectoral performance was broadly positive, with the Industrial Goods Index rising by 2.34 percent, driven by strong demand for BUA Cement shares. Similarly, the Oil and Gas 0.7 percent, Banking 0.5 percent, and Consumer Goods 0.1 percent indices closed in the green, while the Insurance Index declined by 0.7 percent due to profit-taking in select counters.

Market activity showed a mixed pattern, as total traded volume dipped by 14.97 percent to 408.97 million units, even as the total value of transactions surged by 59.08 percent to N26.69 billion across 31,287 deals.

Fidelity Bank led the activity chart by volume with 49.46 million units, while Geregu Power Power topped by value with trades worth N9.29 billion.

The positive start to the week reflects sustained investor positioning in fundamentally sound stocks as the market anticipates fresh earnings releases. Analysts believed that short-term sentiment is likely to remain upbeat amid improved liquidity and cautious optimism over macroeconomic stability.

Human rights activist, Omoyele Sowore, has declared that President Bola Tinubu’s administration has suffered a major setback following Monday’s protest demanding the release of the detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu.

Sowore made the remark in a Facebook post after security operatives dispersed protesters who had gathered in parts of Abuja for the #FreeNnamdiKanuNow demonstration.

He wrote, ‘We have inflicted a crushing defeat on the regime, they attacked and brutalized our people but our determination only intensified from Maiatama to Utako to Apo. #FreeNnamdiKanuNow!’

The protest, which was scheduled to take off from the Transcorp Hilton area, was met with heavy security presence as early as 7 a.m.

Armed police and military officers reportedly took over major locations including Maitama, Utako, and Apo, firing multiple rounds of tear gas to disperse demonstrators and passers-by.

In a viral video, Sowore and several protesters were seen fleeing as officers launched tear gas canisters at them.

The protesters had planned to march to the Presidential Villa to press for Kanu’s release, but the security operatives cordoned off the area and disrupted the rally before it gathered momentum.

Sowore, however, maintained that the resistance against the government’s actions had strengthened the movement’s resolve.

Nigeria’s currency outside the banking system declined to N4.45 trillion in August 2025 from N4.49 trillion in July, according to the latest report by Financial Derivatives Company (FDC) Limited. The data, presented by FDC Managing Director, Mr. Bismarck Rewane, at the firm’s September breakfast meeting held at the Lagos Business School (LBS), indicates a modest but notable shift of cash holdings back into the formal financial system.

Rewane noted that while cash outside banks fell, quasi money – which includes savings and time deposits – rose to N80.21 trillion from N77.5 trillion within the same period. The development, he said, signals growing confidence in Nigeria’s financial institutions and the effectiveness of ongoing monetary tightening by the Central Bank of Nigeria (CBN).

Analysts interpret the decline as an encouraging sign of renewed trust in the banking sector. More Nigerians appear to be depositing their funds into banks, strengthening financial intermediation and making the money base accessible for productive use.

The implications of this trend are far-reaching. First, it supports financial inclusion by drawing more citizens into the formal banking system, allowing the CBN to better monitor and regulate money supply. Secondly, it boosts economic growth potential by increasing funds available for lending and investment.

Thirdly, with less cash circulating outside the system, inflationary pressures could ease, helping to stabilize consumer prices. Additionally, a higher proportion of money within the banking system enables the CBN to implement monetary policies more effectively.

However, challenges remain. Nigeria’s vast informal economy still relies heavily on cash transactions, limiting the full impact of this development. Experts also stress the need for continued efforts to strengthen public trust and improve access to banking services, especially in rural and underserved areas.

Meanwhile, broad money supply (M2) reversed its earlier decline, rising to N119.52 trillion in August from N117.4 trillion in June. Although money supply continues to grow in absolute terms, the rate of expansion has slowed – falling from 15.8% to 11.5% in August. FDC projects that growth could ease further to 10.4% in September as monetary policy restrictions tighten.

Overall, the decline in currency outside banks underscores a positive shift in public confidence and signals greater stability for Nigeria’s financial system.

So far in the year 2025, the Nigerian Exchange Limited (NGX) has witnessed a contraction in its overall market capitalisation, following the exit of eight listed companies that collectively wiped off an estimated N330.7 billion from the equities market.

The delisting of these companies, a mix of regulatory actions and voluntary withdrawals, reflected persistent structural challenges within Nigeria’s capital market, including weak corporate governance, non-compliance with post-listing obligations, and high regulatory costs.

According to corporate filings from the NGX, the companies delisted between January and October 2025 include Tourist Company of Nigeria Plc, Union Homes Savings and Loans Plc, Capital Oil Plc, Goldlink Insurance Plc, Med-View Airline Plc, Notore Chemical Industries Plc, MRS Oil Nigeria Plc, and Smart Products Nigeria Plc.

The wave began in January when the NGX removed Tourist Company of Nigeria and Union Homes for prolonged regulatory breaches.

In April, Capital Oil, Goldlink Insurance, and Med-View Airline were also delisted for failing to meet post-listing and disclosure requirements.

The trend continued into the second half of the year with the voluntary exits of Notore Chemical and MRS Oil, while Smart Products was removed in October for non-compliance and prolonged suspension.

Market data indicated that Notore Chemical Industries Plc accounted for the largest single exit, with a market capitalisation of about N252 billion, representing roughly 0.27 percent of the NGX’s total value of N93 trillion. MRS Oil Nigeria Plc followed with N51.3 billion, while Med-View Airline Plc contributed N15.79 billion. Smaller exits such as Tourist Company of Nigeria, Union Homes, Capital Oil, and Goldlink Insurance had market values ranging between N0.9 billion and N5.6 billion at the time of delisting.

In total, the eight firms collectively accounted for about 0.35 percent of the Exchange’s total capitalisation, according to data compiled from NGX disclosures.

Although the losses seem modest relative to the size of the market, analysts warn that the trend signals deep-seated issues within the capital market ecosystem.