News
Reps invite CBN gov for lifting forex ban on toothpicks, others
The lifting of the ban on foreign exchange for 43 items by the Central Bank of Nigeria may ruin local economy, a member of the House of Representatives, Sada Soli, warned on Tuesday on the floor of the House of Representatives.
This is just as the House invited the Governor of the Central Bank of Nigeria, Yemi Cardoso, to appear before it following the apex bank’s decision to lift the foreign exchange ban on fertiliser, cement, toothpick, and 40 other items.
The 43 items were in 2015 restricted from accessing forex at the official market rate.
CBN’s sudden decision to lift the ban comes against the backdrop of high volatility levels experienced in the foreign exchange market owing to the unification of all trading windows into the investors’ and exporters’ window (the official FX market) by President Bola Tinubu’s administration.
The apex bank had in a statement issued by its Director of Corporate Communications, Isa AbdulMumin said, “The CBN reiterates that the prevailing Foreign Exchange (FX) rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.”
At a plenary session on Tuesday, the Green Chamber passed a resolution to summon the CBN governor following the adoption of a motion of urgent public importance sponsored by Sada Soli, a member of the House representing Jibia/Kaita Federal Constituency, Katsina State on the platform of the All Progressives Congress.
Justifying the significance of the motion, Soli said the decision of the apex bank may lead to the closure of factories and ultimately erode the nation’s capacity to build the local economy.
In his words, it is doubtful if the new policy would make any meaningful impact on the Nigerian economy, stressing that “middlemen” may take undue advantage of it for their own good.
Contributing to the motion, a lawmaker representing Oshodi/Isolo II Federal Constituency, Lagos State, Jesse Onuakalusi, called for the immediate reversal of the policy until the House concludes a legislative action on the matter; a prayer that was rejected by the lawmakers.
An amendment to the motion by Kingsley Chinda, representing Obio/Akpor Federal Constituency, Rivers State noted that the Cardoso should appear before the House Committee on Regulatory Banking, Finance and Customs to explain the rationale behind the lifting of the ban was thereafter adopted.
News
US military strikes in Nigeria killed 155 Lakurawa terrorists -Report
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
Military strikes conducted by the US in December 2025 killed 155 Lakurawa terrorists in Sokoro, a report by The New Humanitarian has claimed.
The US focus was Lakurawa though the strikes didn’t touch other jihadist groups including Boko Haram, as well as the al-Qaeda-linked Ansaru.
The publication also claimed that the attacks left 200 additional Lakurawa fighters missing in the week following the operation.
The strikes, carried out in collaboration with Nigerian authorities, were believed to have involved Tomahawk missiles launched from a US destroyer positioned in the Gulf of Guinea.
The missiles targeted three districts in Sokoto State: Isa, Tangaza, and Tambuwal, though only Tangaza is widely recognised as a core area of Lakurawa.
It is believed that Tambuwal is not generally associated with organised armed violence; while Isa is a bandit stronghold largely controlled by Bello Turji.
Although details of the strike on Isa remain unclear, Turji is widely believed to have survived the attack.
A Lakurawa camp in Tangaza, however, reportedly suffered significant losses.
The New Humanitarian reports that there were two missile hits.
The first reportedly killed around 30 fighters. As surviving members converged to assess the damage and assist the wounded, a second missile struck, killing those who had gathered.
In total, an estimated 155 Lakurawa were killed, including 19 who were initially injured but later succumbed to their wounds.
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
However, in the week following the strikes, about 200 Lakurawa fighters were reported missing. The group was also said to have lost nearly half of its cattle, which is a major source of its revenue.
(The Sun)
News
Curfew, restriction for Akran of Badagry’s burial rites
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
Following the death of the 89-year-old monarch, De Wheno Aholu Menu-Toyi I, the Akran of Badagry., restrictions have been imposed on vehicular movements around the palace vicinity with some sections of the road leading to the place barricaded.
Commuters were said to be directed to take alternative routes.
Sources said the traditional worshippers have started observing rites necessitated by the demise of the monarch.
Security and palace officials were seen restricting movement in the immediate vicinity.
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
News
Akran of Badagry is dead, aged 89
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
Photo: Akran of Badagry, De Wheno Aholu Menu-Toyi
The traditional ruler of the Badagry local government area in Lagos State, the Akran of Badagry, De Wheno Aholu Menu-Toyi, is dead, aged 89.
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
According to the palace, the Akran was pronounced dead by medical experts, after a brief illness, and the traditional rites for his burial have gradually commenced.
Residents of Badagry, who are currently mourning the loss of their revered monarch, described his death as a heavy blow, noting that the town has lost not just a king but a father figure whose wisdom, counsel and presence brought reassurance in moments of uncertainty.
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