Court fixes date to hear suit challenging PDP candidates’ nomination for Rivers LG polls

A Rivers State High Court in Port Harcourt has scheduled April 14, 2026, for the hearing of all pending applications in a suit instituted by three aggrieved members of the Peoples Democratic Party, PDP, in the state.

The defendants in the matter include the factional state chairman of the PDP, Aaron Chukwuemeka; the Rivers State Independent Electoral Commission (RSIEC); the PDP; the Rivers State Government; as well as three local government council chairmen, Obio-Akpor, Port Harcourt City, and Ogba/Egbema/Ndoni, along with their respective vice chairmen and councillors.

The claimants, Enyi Uchechukwu, Wisdom Kalio, and Uche Amadi, are seeking judicial clarification on whether the Aaron Chukwuemeka-led state executive committee, whose emergence was nullified by a prior court judgment, possessed the legal authority to submit a list of candidates to RSIEC for the recently concluded local government elections.

They further request the court to determine whether the PDP validly nominated candidates through the said leadership for participation in the August 30, 2025 council polls.

At the resumed hearing on Tuesday, counsel representing the PDP and the affected local government councils, most of whom are Senior Advocates of Nigeria, informed the court that they had only been served with the originating processes on March 13, 2026.

They consequently requested additional time to respond on points of law.

The application for adjournment was not opposed by counsel to the claimants, Glory Chizim-Chinda.

Presiding over the matter, Justice Stephen Jumbo granted the request and adjourned proceedings to April 14, 2026, for the hearing of all pending motions and possible rulings before the substantive issues are addressed.

Osun 2026: Oyebamiji, Accord bicker over alleged presidential alliance

A fresh political dispute has emerged in Osun State following conflicting claims by rival political groups over alleged support from Bola Ahmed Tinubu ahead of the 2026 governorship election.

The controversy centres on accusations and counter-accusations involving supporters of Governor Ademola Adeleke and those aligned with Munirudeen Bola Oyebamiji, the Osun All Progressives Congress, APC, governorship candidate, as well as allies of former governor, Adegboyega Oyetola.

The AMBO Media Fronts, speaking for Bola Oyebamiji, dismissed claims of any alliance between President Tinubu and Governor Adeleke.

The group in a statement by Adebayo Adedeji, Coordinator, AMBO Media Fronts, described such reports as “false and misleading.

It insisted that “the President would not support the re-election of the incumbent governor.”

It argued that “Oyebamiji remains a loyal party member with a track record in public service. His tenure at the National Inland Waterways Authority as evidence of administrative capacity.”

The AMBO Media Fronts also raised concerns about governance in Osun State, including policies on education funding and the status of certain projects, alleging gaps in implementation.

However, the Governor Ademola Adeleke aligned Accord Media Centre countered him by highlighting what it described as the governor’s popularity and acceptance among key demographic groups in the state.

The Accord Media Centre, in a statement, criticised former governor Adegboyega Oyetola and Bola Oyebamiji, accusing them of actions it said were capable of embarrassing the President and deepening divisions within the All Progressives Congress.

The group alleged that the minister and the APC candidate had demonstrated divisive and cantankerous conduct, claiming their actions were weakening party cohesion in the state.

It further stated that “internal disagreements within the APC had led to dissatisfaction among party members, alleging that the imposition of candidates had alienated some stakeholders.”

According to the Accord Media Centre, “those who genuinely support the President have moved beyond internal disputes and are aligning with the preference of the people of Osun.”

The group maintained that Governor Adeleke enjoys widespread grassroots backing across various sectors, including labour groups, artisans, students, and farmers.

It added that political assessments and reports, which it described as credible, indicate that Adeleke remains a strong contender in the forthcoming August 15, 2026 election.

The statement also urged former governor Oyetola and Oyebamiji to “refrain from conduct that could portray the President in a negative light.”

Ozoro: Youths protest at Lagos Assembly, demand justice

Nigerian youths on Sunday staged a protest at the Lagos State House of Assembly, calling for justice for victims of an alleged sexual assault incident said to have occurred during a fertility festival in Ozoro, Isoko North Local Government Area of Delta State.

The demonstrators, operating under the banner of the “End The Rape Culture” campaign, expressed outrage over reports and videos circulating online, which allegedly showed victims crying out and pleading for help during the incident.

Speaking during the protest, the Executive Director of Hacey Health Initiative, Rhoda Robinson, described the situation as deeply disturbing, stressing that the issue goes beyond headlines and reflects a broader societal problem.

“It is heartbreaking. I keep asking myself, what if it were me? This is a stark reminder that rape culture still exists,” she said.

Robinson recalled that when the campaign was launched alongside Sunshine Rosman and other advocates, there were claims that rape culture was no longer prevalent in Nigeria.

She, however, questioned that assertion, noting that survivors were often silenced, blamed and denied justice.

“How can anyone say rape culture does not exist when victims are still being silenced and justice remains elusive?” She asked.

She cited data indicating that a significant number of women and girls in Nigeria experience sexual violence, with many cases going unreported due to fear, stigma, and societal pressure.

According to her, even reported cases rarely result in justice for survivors.

Robinson also referenced the widely reported case of Ochanya, a young girl who was repeatedly abused by close relatives and later died from complications related to vesicovaginal fistula and trauma. She said the case underscores the persistent vulnerability of many girls across the country.

According to her, Ochanya’s experience is not an isolated case, as many victims continue to suffer in silence.

“The reality is harsh: victims are blamed, families suppress the truth, and systems fail to protect. Women and girls continue to face oppression, and this must change. We need stronger safeguards, effective laws, and justice that is consistent, not selective. No one should be forced to endure such suffering in silence,” she added.

Meanwhile, the Delta State Commissioner of Police, Aina Adesola, visited the affected area alongside senior officers, including the Deputy Commissioner of Police in charge of Operations, Olumuyiwa Adejobi, as part of efforts to address the situation.

Shettima arrives Lagos to brief Tinubu on Maiduguri security situation

Vice President Kashim Shettima on Sunday arrived in Lagos to brief President Bola Tinubu on the prevailing security situation in Maiduguri, Borno State.

His visit comes shortly after a presidential directive that took him to the Borno State capital for an on-the-spot assessment following a series of bomb explosions in the city.

During the trip, the Vice President met with victims, bereaved families, community leaders, and relevant authorities as part of a condolence visit aimed at evaluating the impact of the attacks.

He is expected to present his findings and observations to the President.

Maiduguri was recently shaken by multiple explosions suspected to have been carried out by Boko Haram insurgents, leading to casualties and injuries.

Following the briefing, Shettima is also expected to lead a delegation of serving governors on a courtesy visit to the President later in the day.

The meeting will serve as an opportunity to extend Eid-el-Fitr greetings to the President, while also providing a platform for discussions on enhancing collaboration between different levels of government to tackle emerging security challenges and improve rapid response strategies nationwide.

‘It’s misleading’ – IGP denies disbanding all police units, squads nationwide

The Inspector General of Police, Olatunji Disu, has clarified the report making the rounds over the alleged disbanding of all police units and squads in state commands.

In a statement by Police Spokesperson Anthony Placid, IGP Disu described the claim of disbanding units nationwide as misleading.

According to IGP Disu, the police under his leadership only directed the reduction of the tactical teams at the zonal and state command levels to a maximum of five and at the area command and divisional levels to a maximum of three to avoid proliferation and duplication.

“This report is a misrepresentation of the IGP’s directives. The IGP, a grassroots officer with a profound network across Nigerian society, is aware of public concerns about police tactical teams’ operations and the creation of multiple teams by Commissioners of Police and Heads of formations, with attendant backlash.

“Having held command positions nationwide and witnessed tactical teams in action, the IGP values their contribution to crime-fighting.

.”He is, however, uncomfortable with their proliferation, which drains Police Divisions and Posts of required manpower and brings issues that affect the Force’s integrity because of the excesses of the poorly supervised teams.

“To address these issues, the IGP directed the reduction of the tactical teams at the Zonal and State Command levels to a maximum of five and at the Area Command and Divisional levels to a maximum of three.

“This can be achieved by merging or disbanding teams, at the heads of formations’ discretion. The teams referred to exclude state government-created outfits like Lagos’ Rapid Response Squad, Oyo’s SRS, Bayelsa’s Operation DOO-AKPOR, and other similar outfits across the country. The IGP expects this move to free personnel for police stations, reducing complaints about tactical team excesses.

“Having emphasized accountability and a people-friendly force in his maiden address to Nigerians, the IGP took this step to enhance supervision of existing teams, strengthen police divisions, and remove causes of complaints against the force by members of the public,” the statement read.

State police: Nigerian governors submit proposal to National Assembly

The Nigeria Governors’ Forum, NGF, has announced that it has submitted a framework for the establishment of state police to the 10th National Assembly.

NGF’s chairman and Governor of Kwara State, Abdulrahman AbdulRazaq, disclosed this during a Sallah homage paid by 25 governors to President Bola Ahmed Tinubu at his Ikoyi residence in Lagos on Sunday.

He said the move is part of renewed and coordinated efforts under President Tinubu to address the nation’s persistent security challenges.

The governors further vowed to strengthen coordinated efforts to tackle insecurity while advancing infrastructure development and improving socio-economic outcomes for citizens, in alignment with the administration’s broader development agenda.

“On the issue of state police, discussions are ongoing among various security organizations, led by the National Security Adviser, and the NGF has made its contribution. That document will be taken to the National Assembly to see how we can have a legislative framework for state police.

“We commit to renewing our collaboration with security forces to defeat terrorism, to steadily expand infrastructure opportunities, and to improve the lives of our people. Together, we must see that breaches of security all over the country come to an end.”

Also, Kwara Governor, whose state battles insecurity, also lauded President Tinubu for the implementation of the Renewed Hope Agenda, which he said has deepened citizens’ sense of inclusion in national development and holds promise for improved security outcomes.

“Together, we must see that breaches of security all over the country come to an end,” he stressed.

Governors at the meeting were Sen. Hope Uzodinma, Imo State; Alex Otti, Abia State; Umo Eno, Akwa Ibom State; Douye Diri, Bayelsa State; Hyacinth Alia, Benue State; Bassey Otu, Cross River State; Sheriff Oborevwori, Delta State; Francis Nwifuru, Ebonyi State; Monday Okpebholo, Edo State; Peter Mbah, Enugu State; Mohammed Inuwa Yahaya, Gombe State; and Umar Namadi, Jigawa State.

Others: Abba Kabir Yusuf, Kano State; Dikko Umaru Radda, Katsina State; Ahmed Usman Ododo, Kogi State; Babajide Sanwo-Olu, Lagos State; Abdullahi Sule, Nasarawa State; Caleb Mufwang, Plateau State; Siminalayi Fubara, Rivers State; Agbu Keffas, Taraba State; Mai Mala Buni, Yobe State; and Lucky Aiyedatiwa, Ondo State.

DAILY POST reports the deputy governor of Borno State, Umar Usman Kadafur, was also at the meeting.

Recall that at different forums President Tinubu has reiterated commitment to state police. Recently there has been a resurgence of bombing in the Northeast, especially Borno State.

FX trades drive FMDQ turnover to N60.77tn in January

FMDQFMDQ Group recorded a massive total turnover of N60.77tn for the month of January as the Nigerian financial markets opened 2026 with a surge in liquidity.

The performance, detailed in the 136th edition of the FMDQ Spotlight newsletter, underscores a market increasingly driven by foreign exchange activity and high-level institutional participation.

Data reveals a market heavily weighted toward currency and short-term liquidity instruments. Foreign Exchange (Spot and Derivatives) remained the primary engine of growth, accounting for 31.81 per cent of the total turnover. Close behind was Repurchase Agreements, which contributed 23.15 per cent, while Open Market Operations Bills also saw significant action, recording over N19.33tn in turnover. In contrast, traditional FGN Bonds and Treasury Bills accounted for 7.48 per cent and 7.04 per cent of the market share, respectively.

A major highlight of the period was the Lagos State Government’s landmark listing. The state approved the listing of a N14.82bn five-year 16.00 per cent Series 3 Fixed Rate Green Bond alongside a massive N230.00bn ten-year 16.25 per cent Series 4 Fixed Rate Bond.

On the corporate front, Accion Microfinance Bank quoted a N2.02bn Commercial Paper to support small businesses, while other major players, including UAC of Nigeria PLC, Citibank Nigeria, and Johnvents Industries, successfully quoted CPs totalling over N100bn combined.

The report highlighted the strategic direction of the Exchange and the dominant players within the ecosystem.

Commenting on the performance, the Group Chief Operating Officer of FMDQ Group PLC, Ms Tumi Sekoni, stated, “Market activity remained steady in February 2026, supported by strong institutional participation and sustained operational efficiency. As the year progresses, we will continue to collaborate closely with our stakeholders to deepen market liquidity and promote sustainable market growth.”

The report further noted that the top ten Dealing Member (banks) accounted for 72.85 per cent (N44.27tn) of the overall turnover, while the top three alone accounted for 52.97 per cent of the secondary market turnover recorded by the top ten.

Regarding the state’s intervention, the report added, “FMDQ Exchange has approved the listing of Lagos State’s Green Bond… in a landmark demonstration of its steadfast commitment to advancing Nigeria’s debt capital markets and promoting sustainable finance.”

The competitive landscape for January 2026 saw Stanbic IBTC Bank Limited, Coronation Merchant Bank Limited, and First Bank of Nigeria Limited emerge as the top three most active dealers. Their combined dominance reflects the highly concentrated nature of the Nigerian secondary market, where the top ten players continue to facilitate the vast majority of trade volumes.

As FMDQ Clear and FMDQ Depository continue to stabilise clearing and settlement activities, the market appears poised for further expansion in the second quarter of 2026, particularly in the infrastructure and sustainable energy sectors.

NGX sees 8.761bn shares traded in three days

Nigerian Exchange LimitedThe Nigerian Exchange Limited witnessed an extraordinary surge in activity as investors traded 8.761 billion shares valued at N267.253bn in 193,473 deals, despite a shortened trading week.

This massive turnover, which occurred in just three business days due to the Federal Government declaring public holidays on 19 and 20 March to commemorate the Eid-el-Fitr celebration, stood in stark contrast to the previous week’s total of 3.321 billion shares valued at N164.845bn.

The ICT industry dominated the activity chart by volume, accounting for 5.330 billion shares worth N46.825bn and contributing a staggering 60.84 per cent to the total equity turnover. This momentum was largely driven by heavy trading in E-Tranzact International Plc, FCMB Group Plc, and Wema Bank Plc, which together represented nearly 70 per cent of the week’s total volume.

The market’s primary benchmarks reflected this bullish sentiment, with the NGX All-Share Index and Market Capitalisation both appreciating by 1.39 per cent to close the week at 201,156.86 points and N129.126tn respectively.

While the broader market flourished, sectoral performance was mixed; the NGX Insurance, Oil & Gas, and Commodity indices recorded depreciations, while the NGX Sovereign Bond index remained flat. Amidst this volatility, the exchange also expanded its offerings with the listing of NGX30U6 and NGXPENSIONU6 Futures Contracts, alongside new commercial paper issuances from NGN Gram Limited totalling billions in value.

Market analysts have noted that the rush into equities and the tightening of yields in the fixed-income space suggest a strategic shift among institutional players. In their weekly review, analysts at Meristem Securities observed that investors are moving with increased urgency to secure positions before market conditions shift further.

According to the firm’s perspective on the current climate, “As yields begin to trend lower, investors move quickly to lock in still-attractive rates before further declines materialise, a behaviour evident in the significant rise in subscriptions and the downward trend of average Treasury bill yields.”

This aggressive positioning indicates that despite the holiday-shortened window, the appetite for both high-volume equities and debt instruments remains at a peak for the first quarter of 2026.

The current surge in the ICT sector is not just a weekly anomaly; it represents a significant structural shift in the Nigerian Exchange that has been gaining momentum since 2024. Historically, the Financial Services industry has been the traditional heavyweight of the Nigerian market, often accounting for 50 per cent to 70 per cent of total trading activity.

However, the data from March 2026 shows the ICT sector contributing 60.84 per cent of total volume and 17.52 per cent of value, a stark contrast to its historical standing.

The dominance seen in the third week of March 2026 is driven by several critical factors, including the ‘Fintech’ surge. Companies like E-Tranzact have seen their market capitalisations nearly double in the last 12 months, hitting N180bn in March 2026, reflecting the massive adoption of digital payment infrastructure in Nigeria.

The growth is no longer limited to just telecom giants like MTN and Airtel; mid-cap technology firms specialising in cloud computing and data centres are seeing unprecedented trading volumes as Nigeria’s “Digital Public Infrastructure” expands.

The ICT sector’s 58 per cent year-on-year market capitalisation growth in 2025 set the stage for the high-conviction trading seen this month. While the Financial Services sector still leads in value with N95.892bn compared with ICT’s N46.825bn this week, the sheer volume of shares changing hands in ICT indicates that retail and institutional investors are increasingly viewing technology as the primary engine for future growth.

MTN Nigeria rebounds with N1.1tn profit

New-mtn-logoMTN Nigeria has reported a staggering N1.1tn profit for the 2025 financial year. This turnaround marks a significant departure from the fiscal headwinds of 2024, signalling a robust resurgence in the country’s digital economy.

Speaking on Channels Television, the Chief Financial Officer of MTN Nigeria, Modupe Kadri, broke down the numbers that defined the company’s “impressive” performance. He revealed that the firm achieved a 22.9 per cent increase in service revenue, reaching N392.2bn, fuelled by a surge in third-quarter activity.

The recovery was not a matter of chance but the result of aggressive capital expenditure. Kadri disclosed that the company’s investment in the sector has reached unprecedented levels. “We spent about N1tn in 2025, significantly higher than our 2024 investment levels. We will continue now that we have a business case to make this investment,” he explained.

Despite the massive profit and the deployment of over 2,850 new network sites, the CFO offered a grounded perspective on when consumers will feel the full impact of these billions.

He addressed the recurring question of whether increased income immediately equates to better service quality. “The telecommunications industry is capital-intensive. Even when the capital is available, improvements in network infrastructure take time to materialise. We are not out of the woods yet, but the impact of such investments will be fully realised in time,” he said.

Looking towards the future, MTN is shifting its focus toward the “unconnected” segments of the Nigerian population. With the industry’s total investment exceeding $1bn, the company is eyeing a 70 per cent broadband penetration rate through a mixture of traditional and frontier technologies.

“There is a growing need to expand connectivity as Nigeria’s population increases. Areas previously classified as rural require improved population coverage. Our goal is to exceed 2025 investment levels with the Bridge Project and a ‘satellite revolution’ aimed at closing the rural connectivity gap,” he added.

Fidelity Bank to proffer solutions to public sector revenue challenges at high level stakeholders’ Webinar

Leading financial institution, Fidelity Bank Plc, is set to host a high-level virtual webinar focused on helping public institutions to strengthen revenue systems, improve fiscal transparency, and build smarter digital structures for collections, oversight, and accountability.
Scheduled for Tuesday, March 24, 2026, the session, themed Digital Fiscal Transparency: Unlocking Sub-national Opportunities for International Partners, will bring together a cross-section of public sector leaders, development institutions, heads of parastatals and agencies, as well as financial experts to explore practical solutions for stronger public finance management.
“As public institutions seek ways to improve internally generated revenue and strengthen public trust, there has been a renewed focus on fiscal transparency. This is particularly important in the face of recent macro and micro economic developments with many public sector agencies under pressure to do more with limited resources.
“It is against this background that we have conceptualised this session with a particular focus on how digital platforms can support structured invoicing, seamless collections, payment automation, contractor disbursement transparency, real-time revenue oversight amongst other pertinent areas of revenue mobilization and administration in Nigeria”, commented Richard Madiebo, Divisional Head, Public Sector, Fidelity Bank Plc.
The event is expected to offer timely insights into how modern revenue infrastructure can help institutions improve efficiency, drive accountability, and support better fiscal outcomes.
The webinar will address key issues facing many public institutions today, including revenue leakages, fragmented collection channels, weak visibility into revenue performance, poor reconciliation processes, and the growing need for more transparent and technology-driven systems.
According to Madiebo, “The webinar forms part of our commitment to provide practical solutions that support public sector transformation and stronger sub-national development. This is in line with Fidelity Bank’s mandate to help individuals to grow, businesses to thrive and economies to prosper.”
Interested participants may register at www.fidelitybank.ng/publicsectorwebinar