2027 elections: Resign now if you are contesting – Kano govt tells officials

The Kano state government has directed all public office holders planning to contest in the 2026 elections to step down from their positions on or before March 31, 2026.

The directive was issued in an official circular signed by the Secretary to the State Government, Umar Farouk Ibrahim, and dated March 24, 2026.

It was addressed to top government officials, including commissioners, advisers, directors-general, and other senior appointees across the state.

According to the statement, the decision is in line with the Electoral Act and other relevant regulations guiding the conduct of public officers.

It stressed that political office holders who intend to participate in the upcoming elections must resign their appointments to comply with the law.

The government explained that the move is aimed at enforcing Section 88(1) of the Electoral Act 2026, which regulates the involvement of public servants in partisan political activities. It added that the directive is also meant to protect the core values of the civil service, including neutrality, accountability, and integrity.

“All public officers who are interested in contesting in the forthcoming general elections are requested to resign or retire as the case may be on or before Tuesday, 31st March 2026,” the circular stated.

The government further urged all relevant authorities to ensure the directive is widely circulated and strictly followed.

Insecurity will end soon – Shettima assures as Lawal joins APC in Zamfara

Vice President, Kashim Shettima has expressed confidence that Nigeria will soon overcome its security challenges, assuring citizens that the Federal Government is working hard to restore peace across the country.

Shettima made the statement on Tuesday in Gusau, the Zamfara State capital, during a ceremony where he formally received Governor Dauda Lawal and his supporters into the All Progressives Congress (APC) on behalf of President Bola Ahmed Tinubu.

“We pray for more unity and progress under President Bola Ahmed Tinubu because as our leader, he is working very hard to ensure the safety of lives and property across Nigeria,” Shettima said.

He noted that the move by the Zamfara governor to join the ruling party would strengthen ongoing efforts to tackle insecurity, particularly in troubled states.

The Vice President also assured Lawal of the full backing of both the Federal Government and the APC, while praising the people of Zamfara for their support.

Earlier, Deputy Senate President Jibrin Barau, who represented Senate President Godswill Akpabio, said lawmakers elected on the APC platform were fully in support of the governor’s defection.

“The Governor will now be working together with other governors to help address the problems of the state and further enhance development,” Barau said.

He added that while security challenges are not unique to Zamfara, they can be addressed through cooperation among leaders.

Speaker of the House of Representatives, Tajudeen Abbas, described the defection as a significant political development, saying it marked a new phase for the state.

“Today there is no opposition in Zamfara State,” Abbas said, urging residents to support the governor for greater development.

Chairman of the Progressive Governors Forum and Governor of Imo State, Hope Uzodimma, also welcomed the move, describing it as beneficial to both the state and the party.

“APC is a moving train and we are happy that the State has joined that train. All Governors of APC will support Governor Lawal to do more for this State,” he said.

Similarly, APC National Chairman Nentawe Yilwatda declared that Zamfara had now fully aligned with the ruling party. He commended Lawal’s performance, especially in infrastructure development, and presented him with the party’s flag.

In his remarks, Governor Lawal thanked former governors, including Minister of State for Defence Bello Matawalle and Senator Abdulazeez Yari, for their support.

“I will embrace all my predecessors, and I will work hard for the progress of Zamfara State,” Lawal said, pledging loyalty to the APC and commitment to development.

Southern Kaduna raises alarm over imminent terrorists attack

The Southern Kaduna Community Development Associations (CDAs) Forum has raised the alarm over threats by terrorists, militias and bandits to attack some of its communities.

Chairman of the CDAs forum, Dr. Samuel T. Achie in a statement said terrorists are targeting Kachia, Chikun and Kajuru Local Government Areas of Southern Kaduna.

It said over the last four days, the leadership of the Southern Kaduna Community Development Associations Forum has become aware of security alerts circulating in the media on threats by terrorists, militias and bandit gangs to attack communities in Kachia, Chikun and Kajuru Local Government Areas in Southern Kaduna.

*It is with much concern that the leadership of the CDAs Forum views these threats as dangerous because such threats have occurred many times over the last ten years, and they have almost unfailingly been followed by devastating attacks by terrorists in the Southern Kaduna region.

“We are concerned because we have seen no visible efforts being made by the federal, state and local government to apprehend these threats,” the statement said.

The forum further alerted security agencies that hundreds of people have been taken into captivity in these very Local Government Areas in the last three months.

The CDAs Forum said that it is aware that the threats of attacks are coming from different quarters, and must be taken seriously by the government.

“While the leadership of the CDAs forum is aware of some of the efforts by the government to ensure peace across the nation, it still becomes necessary to call the attention of the government and security agencies, as well as other critical stakeholders in Kaduna State to intensify efforts to ensure the entire Kaduna State and Southern Kaduna in particular are kept safe.”

Lagos begins 2026 promotion exercise for civil servants

Lagos State Government has commenced its 2026 promotion exercise for civil servants and personnel in its parastatal and agencies.

The development was announced via the state government’s official X handle, indicating that the exercise covers officers on Grade Levels 01–05 within the core civil service and those on Grade Levels 01–16 in parastatal organisations.

As part of the process, officers on Grade Levels 01–05 in the mainstream service and Grade Levels 01–10 in parastatals are participating in the Revised Structured Training Programme, RSTP, while those on Grade Levels 12–16 in parastatal agencies are undergoing the Structured Evaluation Assessment Programme, SEAP.

SEAP is being introduced for the first time as a formal requirement for senior-level promotions, incorporating written examinations and computer-based tests, in line with the state’s push for a merit-driven system.

According to officials, the initiative is designed to ensure that career advancement is determined by competence, performance, and professional development, in line with the government’s broader reform agenda.

The exercise is currently taking place at the Public Service Staff Development Centre in Magodo and the Women Development Centre in Agege.

A total of 388 officers are participating in the SEAP, while 4,870 officers are undergoing the structured training programme.

The Commissioner for Establishments and Training, Afolabi Ayantayo, who monitored the exercise, described the conduct of participants and the coordination at the centres as orderly. He encouraged officers to remain committed throughout the process, urging them to “approach the process with dedication and a strong sense of responsibility.”

Ayantayo noted that the introduction of SEAP would ensure that promotions are based on proven knowledge, skills, and competence, while also strengthening the capacity of the public workforce.

Also speaking, the Permanent Secretary, Olubusola Abidakun, expressed satisfaction with the level of organisation and preparedness, reiterating the ministry’s resolve to sustain reforms aimed at boosting efficiency and productivity within the civil service.

The promotion exercise is expected to continue through the week and into the following week, with various sessions designed to prepare officers for higher responsibilities.

In line with civil service regulations, promotion committees will assess eligible candidates, while officers who are unsuccessful retain the right to appeal within a stipulated period.

I apologize to Nigerians over poor electricity – Minister of Power, Adelabu

The Minister of Power, Adebayo Adelabu, has apologised to Nigerians over the ongoing power challenges across the country, assuring that the situation is temporary and efforts are underway to restore stable electricity supply.

Adelabu expressed remorse that the disruption has caused hardship for citizens, particularly during the current dry season marked by intense heat, affecting businesses, schools and industries nationwide.

He tendered his apologies during a press conference on Tuesday in Abuja.

Adelabu explained that the challenges were caused by factors beyond the government’s control but stressed that authorities are working round the clock to resolve them.

“I want to apologise to Nigerians for this temporary issue that is causing hardship, especially during this dry season where there is so much heat everywhere and where businesses, schools and industries are being affected,” Adelabu said.

According to him, the government was not expecting the situation but has intensified efforts to address it.

“It is not our wish to find ourselves in this situation, but some factors are actually beyond our control. However, we are not relenting. We are working on it 24/7 to make sure we return to the trajectory we achieved in 2025,” he said.

“In 2025, you commended us, praised us for a job well done. If we were able to provide such a service then, this is 2026 and we are willing to do even more and do better,” the minister added.

He further assured Nigerians that the current power challenges would soon be resolved.

“I can assure Nigerians that in the next few weeks all these issues will be over,” Adelabu said.

IG redeploys AIGs, CPs

The Inspector General of Police, Olatunji Disu, has ordered the posting of senior officers to various strategic positions across the Nigeria Police Force as part of efforts to strengthen operational efficiency, enhance leadership capacity and improve service delivery nationwide.

The postings, according to a statement on Tuesday by the  Force spokesman, DCP Anthony Placid, are in line with the police commitment to an effective command structure and strategic deployment of personnel across commands, formations and departments.

Under the new arrangement, he said AIG Ado Emmanuel was posted to Research and Planning, Force Headquarters, Abuja; AIG Joseph Eribo to the Department of Armament; AIG Miller Dantawaye to the Department of Operations; AIG Henry Ifeanyi Uche to the Department of Training and Development; AIG Olanrewaju Peter Ogunlowo to Police Accounts and Budget; while AIG Dahiru Mohammed was deployed to Zone 15, Maiduguri.

“Similarly, AIG Dankombo F. Morris was posted to Zone 4, Makurdi; AIG Bello Shehu to Zone 14, Katsina; AIG Ibrahim Balarabe Maikaba to the Department of Legal Services; AIG Ahmed Musa to Community Policing; AIG Olohundare Moshood Jimoh to Zone 2, Lagos; AIG Simeon U. Akpanudom to FCID Annex, Lagos; and AIG Haruna Olufemi to the Special Protection Unit, Force Headquarters, Abuja,” the statement added.

The IG also redeployed several Commissioners of Police to state commands and other formations.

CP Haruna Yahaya was posted to Jigawa State Command; CP Betty  Otimenyin to Welfare, Force Headquarters; CP Olugbenga Abimbola to Oyo State Command; CP Yemi John Oyeniyi to Delta State Command; CP Olubode Ojajuni to Ogun State Command; CP Michael  Falade to Ekiti State Command; and CP Yakubu Dankaro to Adamawa State Command.

Others include CP Muhammed Ahmed to the Federal Capital Territory Command; CP Olatunji  Fatai to Lagos State Command; CP Morkwap  Dongshal to Taraba State Command; CP Ahmed  Bello to Zamfara State Command; CP Umar Fagge to Katsina State Command; and CP Hayatu Shaffa Hassan to Sokoto State Command.

In further postings, CP Akan Ezima was named Director, NPF-NCCC, Abuja; CP Abbas Sule to the Special Protection Unit; CP Ajo Geoffrey Ordue to INTERPOL, Abuja; CP Mnwadiogbu Cletus as Deputy Commandant, POLAC; CP Danjuma I. Yahaya to General Investigation, FCID Annex, Kaduna; CP Sheikh M. Danko to FCID Annex, Lagos; and CP Moses Ashu Otta to SWAT, Abuja.

Additional redeployments include CP Abdulrahim A. Shuaibu to Eastern Ports Authority; CP Sarah Ehindero to Administration, FCID Abuja; CP Edwin Ogbegbghagha to Provost, Force Headquarters; CP Preye R. Egbe to INEC, Abuja; CP Adebisi Bola Lateef to Master Printing, Lagos; CP Bolou O. Etete to Community Policing, Research and Planning; and CP Ojugbele E. Adebola to General Investigation, FCID Alagbon, Lagos.

Also affected are CP Fidelis N. Ogarabe, posted to INTERPOL Annex, Lagos; CP Theodore C. Obasi as Deputy Commandant, Police College, Ikeja; CP Eloho E. Okpoziakpo to Special Fraud Unit, Ikoyi; CP Kayode Uthman Magaji to K9, Dei-Dei; CP Markus Ishaku Basiran to Courses, POLAC; CP Mohammed Babakura to Administration, Department of Operations; CP Silas Bamidele Aremu to Safer Highway, Department of Operations; CP Magaji Ismaila to Community Safety and Crime Prevention; and CP Rebecca Uchenna Okereke as Director of Music, Force Headquarters, Abuja.

“Tunji Disu charges the officers to bring their wealth of experience to bear in their respective assignments and to uphold the highest standards of professionalism, discipline, and service in the discharge of their duties,” he said

Financial reforms gain traction with global recognition

Governor of the Central Bank of Nigeria, Olayemi CardosoThe Central Bank of Nigeria secured a major global endorsement last week after it was named Central Bank of the Year 2026 by the Central Banking Awards Committee in London, a recognition that underscores the institution’s role in steering Africa’s largest economy through a difficult period of instability toward gradual recovery.

Announced at the 13th annual Central Banking Awards, the honour has drawn international attention to Nigeria’s ongoing financial sector reforms and the central bank’s efforts to stabilise the macroeconomic environment. It also reflects a broader narrative of economic adjustment, highlighting both the severe pre-reform challenges and the progress recorded in exchange rate stability, foreign investment inflows, and domestic economic resilience.

Under the leadership of its Governor, Olayemi Cardoso, the apex bank has gained global recognition for implementing far-reaching reforms that have helped redirect the Nigerian economy toward a path of stability and growth. The awards committee noted that the country faced an acute economic crisis before the current reform programme began, requiring bold and coordinated policy responses.

According to the committee, Nigeria’s economic conditions prior to the reforms were deeply strained. When President Bola Tinubu assumed office in May 2023, he inherited an economy that was nearing what observers described as “hyperinflation” and “fiscal bankruptcy.” The naira had been depreciating rapidly, while inflationary pressures continued to intensify, eroding purchasing power and undermining confidence.

In response, the administration introduced a series of sweeping reforms aimed at addressing structural imbalances. Among the most consequential were the removal of fuel subsidies and the liberalisation of the foreign exchange market. While these measures were widely seen as necessary, their immediate effects were difficult for many Nigerians, as they triggered a sharp rise in prices and pushed inflation to 34.80 per cent by December 2024—the highest level recorded in nearly three decades.

Despite the initial hardship, the Central Banking Awards Committee observed that the Central Bank of Nigeria, under Cardoso’s leadership, embarked on a reform agenda designed to restore stability, rebuild trust, and reinforce the financial system. The strategy centred on disciplined monetary policy, institutional restructuring, and enhanced transparency in policy implementation.

A key aspect of the reforms involved discontinuing quasi-fiscal interventions, where the central bank had previously extended direct credit to various sectors of the economy. This practice had contributed to excess liquidity and rising inflation. By ending such interventions, the apex bank signalled a return to orthodox monetary policy, aimed at restoring credibility and controlling price pressures.

Internally, the institution also undertook significant restructuring. Staff numbers were reduced, cases of misconduct were addressed, and personnel were redeployed to areas considered critical for achieving the bank’s objectives. These changes were part of a broader effort to strengthen governance and improve operational efficiency.

A senior official of the bank explained that transparency and accountability have become central pillars of its operations. The CBN has improved the way it communicates policy decisions, strengthened internal oversight, and adopted more robust analytical tools to guide decision-making. These measures have helped build confidence among stakeholders, including investors and market participants.

One of the most significant areas of reform has been the foreign exchange market. The central bank replaced the multiple exchange rate system with a willing-buyer, willing-seller framework, allowing market forces to play a greater role in determining the value of the naira. In addition, it introduced an electronic foreign exchange matching system to improve transparency and efficiency in transactions.

Cardoso stated that these changes have led to a substantial reduction in the disparity between official and parallel market exchange rates, bridging the gap to less than two per cent from over 60 per cent previously. He also noted that the bank has cleared a backlog of foreign exchange obligations, a move that has helped restore confidence among investors and businesses operating in the country.

Nigeria’s external reserves have also strengthened, reaching approximately $46.7bn by November 2025—the highest level recorded in nearly seven years. This improvement has provided a buffer against external shocks and enhanced the country’s ability to meet its international obligations. The International Monetary Fund commended these efforts, noting that reforms in the foreign exchange market have improved liquidity and facilitated more effective price discovery.

Beyond the FX market, the central bank has worked to deepen financial markets by collaborating with the Securities and Exchange Commission and the National Pension Commission. Together, they have introduced measures to enhance transparency in the fixed-income market and promote long-term investment, which is critical for sustainable economic growth.

DLM Capital initiates N30bn SBCN plan with maiden payout

DLM Capital GroupDLM Capital Group has officially moved from proof-of-concept to proven execution, announcing the successful disbursement of the first principal and coupon payments on its Sovereign Bond-Backed Composite Notes.

The payment marks a decisive turning point for the N30bn programme, which seeks to blend the high-yield opportunities of corporate structuring with the rock-solid security of sovereign collateral. The Series 1 Notes, which include the N7.30bn Tranche A and N1.70bn Tranche B, are currently listed on the FMDQ Exchange.

The milestone is particularly significant given the initial market climate. When the instrument launched in July 2025, it was met with “cautious interest” from an investment community wary of new structures. However, the timely fulfilment of these financial obligations has silenced sceptics and bolstered the reputation of the AAA-rated instrument.

The leadership at DLM Capital and market analysts have been vocal about what this payout represents for the Nigerian capital markets: “This first payment is a clear validation of the structure. It demonstrates that the SBCNs are not just innovative but dependable,” said DLM Capital Group.

“The instrument has delivered on its core promise: strong credit quality, reliable cash flows, and enhanced returns. With momentum building toward Series 2, DLM Capital is setting a new standard for structured debt innovation in Nigeria’s capital markets,” the statement added.

The SBCNs have distinguished themselves through their unique risk-reward profile. Tranche A has notably emerged as the most valuable AAA-rated corporate bond in Nigeria, offering an impressive 40.62% Hold-To-Maturity return.

Backed by sovereign bond collateral and rated AAA by both GCR and DataPro, the notes have successfully addressed the “flight to quality” currently seen among institutional investors. By providing a bridge between capital preservation and yield optimisation, DLM Capital appears to have carved out a new niche for high-quality fixed-income opportunities.

As the Group prepares for the Series 2 issuance, the successful servicing of the Series 1 debt provides a robust track record that is expected to drive even higher subscription rates from pension fund administrators and insurance firms seeking stable, high-yield assets.

Global trade moves 500 billion tonnes virtual water – Report

World-BankGlobal trade transports an estimated 500 billion tonnes of virtual water every year, the hidden water embedded in goods such as food, textiles and industrial products, indicating the growing link between international commerce and water sustainability, according to a new World Bank report.

The report explains that virtual water refers to the large volumes of freshwater used during production processes but not visible in the final product. For example, producing a single cup of coffee can require about 150 litres of water, while sugar, milk and baked goods add significantly more, meaning a typical breakfast may consume more water than many households use daily.

According to the World Bank, the scale of virtual water flows is immense, amounting to roughly a quarter of global water use and about 50 times the weight of goods shipped annually by sea. Over the past two decades, virtual water trade has expanded by about 50 per cent, driven by rising incomes, changing diets and increasingly complex global value chains.

The report notes that trade can improve global water efficiency by shifting production to regions where water resources are more abundant. Crop trade alone saves around 500 billion cubic metres of water annually, as agricultural goods are often produced in locations that use water more efficiently than importing countries.

Water-dependent sectors, including agriculture, energy and industry, support approximately 1.7 billion jobs worldwide, underscoring the economic importance of efficient water use.

However, the benefits are uneven. About one-fifth of irrigation water embedded in traded goods originates from water-stressed regions where water is used less efficiently, effectively exporting scarce water resources and increasing long-term economic risks for those countries.

The World Bank said trade policy plays a critical role in determining where water-intensive production occurs.

Import tariffs, subsidies and regulatory standards influence competitiveness in sectors such as agri-food, textiles, leather, pulp and paper, and chemicals. Meanwhile, tariffs on water-saving technologies, including drip irrigation systems, smart meters and wastewater treatment equipment, can slow the adoption of efficiency solutions.

Governments are increasingly using non-tariff measures such as product standards and sustainability regulations to manage water use. Australia’s water-efficiency labelling scheme and the European Union’s corporate sustainability due diligence rules were cited as examples of policies shaping water outcomes across supply chains.

Private companies are also playing a growing role. Multinational firms are setting targets to reduce water use in manufacturing and working with suppliers to improve irrigation and processing efficiency across global sourcing networks.

The report added that trade agreements could further promote sustainable water use by incorporating environmental commitments and cooperation mechanisms. Examples include agreements between the European Union and Chile and between Japan and Australia, which encourage collaboration on efficient water management.

The World Bank cautioned that aligning trade with water sustainability will require gradual policy reforms to avoid disrupting producers and consumers, particularly in developing economies. Measures such as phased disclosure of water footprints, improved supply-chain traceability and investment in water-efficient technologies could help businesses remain competitive while reducing environmental risks.

SEC DG, Agama Re-Elected AMERC Vice Chair

The Securities and Exchange Commission Nigeria (SEC Nigeria) is pleased to announce the re-election of its Director-General, Emomotimi Agama, as Vice Chair of the Africa/Middle-East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO) for a second term spanning 2026–2028.
IOSCO was established in 1983, serves as the global standard-setter for the securities industry and is recognised as the leading international policy forum for securities regulators. Its members regulate more than 95 per cent of the world’s securities markets across over 100 jurisdictions.

 

 

This appointment, confirmed by IOSCO, reflects the growing recognition of Nigeria’s capital market and its strategic importance within the Africa and Middle East region. It highlights the confidence of peer regulators in Nigeria’s leadership, regulatory progress, and continued commitment to strengthening capital market systems.

 

The re-election also presents a significant opportunity for SEC Nigeria to deepen its engagement at the highest level of global securities regulation. As AMERC Vice Chair, Nigeria will maintain a seat on the IOSCO Board, the organisation’s highest policy-making body, where critical decisions shaping global capital market standards, regulatory frameworks, and cross-border cooperation are made. This position ensures that Nigeria’s perspectives, experiences, and priorities are represented in key discussions that influence the direction of international financial markets.

 

 

According to Agama, “Beyond representation, this development enhances Nigeria’s ability to contribute meaningfully to global regulatory dialogue, particularly in areas such as enforcement cooperation, market integrity, and investor protection. It creates a stronger platform for collaboration with other jurisdictions on cross-border regulatory issues, including tackling illicit financial flows and strengthening supervisory frameworks. The role further supports ongoing efforts to align Nigeria’s capital market with international best practices, fostering greater investor confidence and facilitating increased participation in global financial markets.

 

“Ultimately, this milestone reinforces Nigeria’s position as a leading voice in regional and global capital market development. It is expected to contribute to building a more resilient, transparent, and robust capital market ecosystem, not only within Nigeria but across the broader Africa and Middle East region. SEC Nigeria remains committed to leveraging this opportunity to advance regulatory excellence, deepen market integration, and support sustainable economic growth”