NUPRC plans crude swap to boost refinery supply

NUPRCThe Nigerian Upstream Petroleum Regulatory Commission has confirmed the commencement of consultations with relevant industry stakeholders on a domestic crude oil and gas swap arrangement aimed at cutting supply costs and ensuring more crude is available to Nigerian refineries.

The initiative is expected to strengthen compliance with the Domestic Crude Supply Obligation and Domestic Gas Supply Obligation while reducing the need to physically transport crude over long distances to meet supply requirements.

The NUPRC Chief Executive, Oritsemeyiwa Eyesan, disclosed this during a courtesy visit to the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja on Thursday.

In a statement issued by the NUPRC Head of Media and Corporate Communications, Eniola Akinkuotu, on Friday, Eyesan said the proposed arrangement would allow producers and refiners to optimise existing logistics and supply networks

She said the commission was consulting relevant stakeholders to develop the modalities for the scheme, which would also involve the Gas Aggregation Company Nigeria Limited.

Eyesan explained that a swap arrangement would enable crude producers with export facilities to meet the obligations of producers closer to domestic refineries, eliminating the need to transport crude unnecessarily across the country.

The statement read, “The Nigerian Upstream Petroleum Regulatory Commission is consulting widely with stakeholders in the industry on the idea of a domestic crude oil and gas swap that would reduce cost and increase availability of products in the country.

“Once all the modalities are finalised, there would be improved compliance with the Domestic Crude Supply Obligation and the Domestic Gas Supply Obligation. How the swap works is that I have an obligation somewhere and I am close to an export facility. Somebody else has an obligation inland and his own (facility) is close to a domestic offtaker.

“So, instead of trying to move from one end to the other, we just agree on a swap arrangement, and there is a mechanism for them netting off,” she said.

The proposal comes against the backdrop of a significant improvement in crude deliveries to domestic refiners. NUPRC data showed that 53.7 million barrels of crude oil were supplied to local refiners between April and June 2026, representing 97.4 per cent performance under the DCSO during the second quarter.

Despite the improvement, crude oil imports into the country have continued, with some refiners still relying on foreign crude to sustain operations.

Refiners have repeatedly complained that some crude producers sell locally supplied crude at premium prices, making it more expensive for them to source Nigerian crude than imported alternatives and undermining the competitiveness of domestic refining.

Eyesan said the persistence of imports had made it necessary for the commission to explore more efficient mechanisms for allocating and delivering domestic crude to refineries.

She, however, noted that discussions on a crude oil swap were still at an early stage, stressing that all necessary modalities would have to be agreed upon before implementation.

The NUPRC boss also pledged to strengthen collaboration with the NMDPRA to address challenges across the petroleum value chain.

Responding, the NMDPRA Chief Executive, Rabiu Abdullahi Umar, congratulated the upstream commission on what he described as a seamless and credible 2025 licensing round.

Umar also commended the NUPRC for improving enforcement of domestic crude supply to local refineries, saying the development was important to the growth of Nigeria’s refining industry. He noted, however, that pricing remained a major consideration in domestic crude transactions.

According to him, although the Petroleum Industry Act provides for transactions to be conducted on a willing-buyer, willing-seller basis, the price of crude remains critical to the viability of domestic refining.

The NMDPRA therefore expressed support for the establishment of strategic petroleum reserves, saying such reserves would strengthen Nigeria’s energy security and contribute to price stability.

The proposed crude swap arrangement adds to ongoing efforts by regulators to ensure that increasing domestic refining capacity is matched by reliable and competitively priced crude supplies.

With the Dangote Petroleum Refinery and other private refineries expanding operations, regulators face growing pressure to ensure that domestic crude supply obligations translate into actual feedstock availability for local refiners.

2027: Kwankwaso’s ally, Abdullahi dumps NDC for APC

Kabiru Abdullahi, a long-time ally of the vice-presidential candidate of the Nigeria Democratic Congress, NDC, Rabiu Kwankwaso, has defected to the All Progressives Congress, APC.

Abdullahi announced his resignation from the NDC in a letter addressed to the party chairman of Kofar Ruwa Ward in Dala Local Government Area of Kano State.

The ardent supporter of the Kwankwasiyya political movement attributed his decision to what he described as years of unfulfilled promises within the party.

He further stated that he would now support President Bola Tinubu’s re-election bid on the platform of the APC.

“I have been with Kwankwaso for 29 years but have only benefited from failed promises. I will go to where I will be respected more,” Abdullahi said.

He pointed out that his prolonged association with Kwankwaso had not produced the political recognition and benefits he expected, thanking the NDC for the opportunity to serve but announced that his withdrawal from the party took immediate effect.

He subsequently declared support for the APC and Tinubu ahead of the 2027 general election.

His defection came months after he publicly defended Kwankwaso amid political controversy in Kano State.

Osun election: Defections, court battles, violence shape Accord, APC, ADC showdown

All eyes will be on Osun State tomorrow, August 15, 2026, as residents go to the polls to elect their next governor.

the months leading up to the election, political realignments, prolonged legal battles, local government disputes, defections, allegations of political violence, and an increasingly competitive struggle for control of the state have characterized the contest.

The election is the latest chapter in a political contest that began with the 2022 governorship poll, when Ademola Adeleke of the Peoples Democratic Party, PDP, defeated the incumbent governor, Adegboyega Oyetola of the All Progressives Congress, APC, by 403,371 votes to 375,027, according to figures announced by the Independent National Electoral Commission, INEC.

Four years later, the political landscape has changed substantially.

Governor Adeleke, who won the 2022 election on the PDP platform, is seeking a second term under the Accord Party, while Oyetola, now Minister of Marine and Blue Economy, has stepped aside from the governorship contest and backed the APC candidate, Bola Oyebamiji.

Former Speaker of the Osun State House of Assembly, Najeem Salaam, is also contesting under the African Democratic Congress, ADC.

These are the three frontline contenders for the governorship position.

The 2022 election and the battle in court

The 2022 election did not end with INEC’s declaration of Adeleke as governor-elect. Oyetola challenged the result, alleging over-voting and other irregularities.

Osun State Governorship Election Petition Tribunal, in January 2023, overturned Adeleke’s victory in a split decision and declared Oyetola the winner. Adeleke rejected the judgment and immediately announced that he would challenge it at the Court of Appeal.

“I call on our people to remain calm. We will appeal the judgment and we are sure justice will be done,” Adeleke said at the time, insisting that he remained the rightful winner of the election.

The Court of Appeal later reversed the tribunal’s decision and restored Adeleke’s victory. Oyetola subsequently took the matter to the Supreme Court, extending a legal battle that had already consumed several months.

On May 9, 2023, the Supreme Court affirmed Adeleke’s victory, effectively bringing the 2022 election dispute to an end.

The apex court held that Oyetola and the APC had failed to establish the allegation of over-voting sufficiently to overturn the election result.

The judicial outcome left Adeleke in office, but it also preserved a formidable APC political structure around Oyetola and his allies. When President Bola Tinubu subsequently appointed Oyetola Minister of Marine and Blue Economy, the former Osun governor moved from the state political arena into the Federal Executive Council.

His federal position became politically significant to Osun’s 2026 contest.

Under Oyetola’s ministerial portfolio, former Osun Commissioner for Finance, Bola Oyebamiji was appointed Managing Director of the National Inland Waterways Authority (NIWA) in October 2023. The Federal Government described the appointment as one made on the recommendation of the Minister of Marine and Blue Economy.

Oyebamiji would later become the APC 2026 governorship candidate, creating a direct political link between the former governor’s federal influence and the party’s new governorship campaign.

The local government crisis

If the 2022 election created the first major legal battle between Adeleke and Oyetola, the 2025 local government election deepened the institutional and political confrontation.

The dispute originated from the controversy surrounding the local government election conducted in October 2022. A Federal High Court judgment had nullified that election, while subsequent appellate proceedings became the subject of competing interpretations by the APC and the PDP.

By February 2025, the disagreement had reached another critical point. The APC maintained that its previously elected council officials had been restored by a Court of Appeal decision and should return to their offices.

The PDP-controlled state government disagreed, arguing that the earlier election had been nullified and that there were vacancies across the state’s 30 local government areas.

On February 21, 2025, an Osun State High Court ordered the Osun State Independent Electoral Commission to proceed with the local government election scheduled for the following day. The court also directed security agencies to provide adequate security for the exercise.

The APC subsequently announced its withdrawal from the election, arguing that the Court of Appeal judgment meant the local government seats were no longer vacant. The party said its officials had resumed office and considered the planned election unnecessary and unlawful.

The election eventually took place on February 22.

The PDP won all the chairmanship and councillorship seats, according to the Osun State Independent Electoral Commission, OSSIEC.

But the election did not resolve the dispute. Instead, it created a parallel governance structure, in which the newly elected PDP council officials and the previously elected APC officials continued to claim legitimacy.

Before the poll, violence had already become a major concern. In Ilesa, PDP and APC supporters reportedly clashed during campaign activities, with dangerous weapons, including machetes and axes, displayed during the confrontation.

The violence and legal uncertainty produced an unusual post-election situation. Adeleke swore in the newly elected council chairmen and councillors on February 23 but instructed them not to immediately occupy the council secretariats.

“Please stay away from the council secretariats to prevent any clashes,” Adeleke told the newly inaugurated officials, urging them to allow the legal process to determine the next step.

That instruction became one of the defining moments of the local government crisis.

Rather than settling the dispute, the confrontation continued through court proceedings, political protests and competing claims over who controlled the councils.

In January 2026, Adeleke again described the APC officials occupying the council secretariats as having been removed by court decisions, while maintaining that the February 2025 election produced the lawful local government leadership in the state.

The local government crisis subsequently became intertwined with the 2026 governorship election, with both APC and Accord accusing each other of using the dispute as part of a broader political strategy.

Defections reshape Osun’s political map

The political realignment did not stop at the local government level.

Two Osun senators, Francis Fadahunsi and Olubiyi Fadeyi, defected from the PDP to the APC in July 2025. At the time, an aide to Adeleke described the move as a political miscalculation.

The more consequential movement, however, came from Adeleke himself.

After years of operating under the PDP, Adeleke resigned from the party and joined the Accord Party in December 2025, declaring his intention to seek another term as governor.

His defection was followed by another major movement in February 2026, when 25 members of the Osun State House of Assembly elected on the PDP platform defected to Accord. The lawmakers said their decision followed their parliamentary meeting and their desire to align with the governor.

The defections significantly altered the structure of the 2026 contest.

The governor was no longer seeking re-election as the candidate of the party that brought him to office in 2022. Instead, he was taking the incumbent’s political structure into a different party, while the APC sought to consolidate opposition forces around its own candidate.

APC settles on Bola Oyebamiji

APC’s own journey to selecting a candidate was marked by intense negotiations.

Eight governorship aspirants met President Bola Tinubu at the State House in December 2025 and agreed to support a consensus candidate. The aspirants included Benedict Alabi, Dotun Babayemi, Akin Ogunbiyi, Babajide Omoworare, Kunle Adegoke, Babatunde Hareter Oralusi, Mulikat Abiola Jimoh and Bola Oyebamiji.

The agreement was intended to prevent a repeat of the internal divisions that had affected APC’s 2022 campaign.

Oyebamiji eventually emerged as the party’s candidate through affirmation at the APC primary in Osogbo.

A total of 1,660 delegates from the state’s 332 wards participated in the exercise, with the delegates affirming Oyebamiji as the party’s flagbearer.

Oyebamiji subsequently presented himself as a candidate focused on poverty reduction, education, healthcare and economic development. In his acceptance speech, he described Osun as being at a crossroads and promised to address what he considered deficiencies in the state’s governance.

Oyetola’s decision not to contest the primary further strengthened the emergence of Oyebamiji as the APC candidate.

In July 2025, Oyetola announced his withdrawal from the 2026 governorship race and said his priority was to support APC’s return to power in Osun.

Najeem Salaam and the ADC factor

While the major contest remained between Accord and APC, the ADC introduced another significant political variable.

Najeem Salaam, a former Speaker of the Osun State House of Assembly and political ally of former Governor Rauf Aregbesola, emerged as the ADC governorship candidate.

Salaam was the sole contestant at the party’s primary. Of 528 accredited delegates, 520 valid votes were cast in his favour, while eight votes were declared invalid.

His emergence gave the electorate another established political figure with experience in Osun politics and legislative administration.

Salaam has subsequently campaigned on governance and development issues. In May 2026, he said his administration would prioritise electricity and engage investors and stakeholders to address the state’s power challenges.

The ADC candidate’s presence has, therefore, added another layer to the contest, particularly in a political environment where alliances and defections have become central to the campaign.

Motor parks become another political flashpoint

As the election approached, political tension moved beyond party offices and campaign rallies into commercial transport spaces.

In July 2026, rival factions of the National Union of Road Transport Workers, NURTW, clashed in Osogbo after one faction protested alleged restriction of access to motor parks.

The confrontation reportedly involved gunshots and disrupted commercial activities in parts of the state capital. The police subsequently deployed officers to several motor parks.

The police described the incident as a clash between rival factions and urged the groups to embrace dialogue.

“All stakeholders are urged to exercise restraint and avoid actions or statements capable of further escalating tensions,” the police said.

The motor park crisis subsequently entered the political debate, with the Accord campaign team accusing opposition elements of attempting to gain control of transport infrastructure. The APC rejected such allegations.

The dispute demonstrated how election-year competition had extended into institutions and networks capable of influencing movement, mobilisation and political activities across the state.

INEC has also maintained that it is not aware of any crisis between the transport unions in the state, as it has entered into a Memorandum of Understanding, MOU, with the national bodies of the transport unions in order to cater for election logistics.

The controversy surrounding CP Ibrahim Gotan

Security has become one of the most contested aspects of the Osun election.

In June 2026, civil society organisations, the National Association of Nigerian Students and other groups protested in Osogbo and called for the removal of Osun Commissioner of Police, Ibrahim Gotan.

The protesters alleged that political violence was increasing and questioned the neutrality of the police command. They called on the Inspector-General of Police to replace Gotan ahead of the election.

The commissioner, however, also received support from certain quarters.

Days after the protest, another group organised a solidarity march in Osogbo, backing Gotan and praising his handling of security matters.

The competing demonstrations reflected the sharply divided perceptions surrounding the police command.

Gotan subsequently held meetings with political parties, the military, INEC and other stakeholders as security concerns increased. He warned political actors against destroying campaign billboards and other materials belonging to opponents.

The police have also investigated specific incidents connected with the campaign, including alleged attacks and the destruction of political materials.

Security preparedness

The Nigeria Police Force has deployed 15,000 personnel across the state to provide security before, during and after the poll. The deployment covers officers assigned to polling units, strategic locations and other areas considered vulnerable to violence.

IGP Disu has also deployed a Deputy Inspector-General of Police to coordinate the overall security operation for the election.

In the heat of the protests against CP Gotan, IGP Disu visited the state, where he met with the governor. During the meeting, Disu pointed out that there were allegations that criminals were being harboured inside the Osun State Government House. He, however, assured that the Nigeria Police, as the lead agency for election security, would maintain its neutrality.

The Nigeria Security and Civil Defence Corps, NSCDC, also announced the deployment of 10,210 personnel, comprising 10,000 operatives drawn from 10 neighbouring state commands and additional specialised tactical and operational units. About 1,000 personnel are being contributed by each of the Oyo, Ondo, Ekiti, Ogun, Lagos, Kwara, Edo, Kogi, Delta and Federal Capital Territory commands.

The NSCDC Commandant General, Ahmed Abubakar Audi, in company of the Osun State Commandant, Igbalawole Sotiyo, on Wednesday, August 12, paid a visit to Governor Adeleke as a means of assuring residents of the state’s preparedness and the corps’ commitment to ensuring a peaceful and violence-free poll.

The personnel include uniformed and undercover operatives, while specialised units are also being deployed to reinforce the Osun Command and protect voters, electoral officials, observers, journalists and critical infrastructure.

The Nigerian Army is also participating in the election security arrangement under Operation SAFE CONDUCT, with troops deployed to support the police and provide outer-cordon security. However, unlike the police and the NSCDC, the Army has not publicly disclosed the exact number of soldiers deployed to Osun.

Major General Auwalu Mahmuda, General Officer Commanding 2 Division, directed the troops to remain politically neutral, avoid polling units unless intervention becomes necessary and strictly observe the Code of Conduct for election duty.

Also, personnel of the Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices and Other Related Offences Commission, ICPC, are in the state as part of preparations for the poll on Saturday.

Campaign claims and counterclaims

The campaign season has been marked by frequent accusations and rebuttals between the Imole Campaign Council, representing Adeleke’s re-election bid and the Osun APC Governorship Campaign Council.

One of the earliest major disputes concerned campaign billboards.

The Imole Campaign Council alleged that APC-linked actors destroyed Adeleke and Accord campaign billboards in several local government areas. The council called for an investigation and prosecution of those responsible.

The APC rejected the accusation and said its own campaign materials had also been destroyed.

Oluremi Omowaiye, head of the APC campaign council’s media and publicity committee, described the allegation against the APC as false and politically motivated.

The disagreement eventually prompted the police to announce an investigation into billboard destruction.

Police spokesperson, Abiodun Ojelabi said the command condemned the destruction of billboards and other public symbols, warning that such actions could heighten tension.

“The police condemn the destruction of billboards and other government symbols within the state and have launched an investigation to identify, arrest and prosecute perpetrators,” he said.

The campaign councils have also exchanged accusations over political violence, alleged attacks on their supporters, alleged assassination attempts and the conduct of security agencies.

In July, the Accord camp questioned the police account of an alleged assassination attempt involving APC campaign Director-General, Oluwole Oke, after a video involving one of the arrested suspects circulated online. The APC and the police maintained their own accounts of the incident.

The claims remain matters of investigation and political dispute rather than established findings against either of the campaign organizations.

INEC and the road to August 15

Amid the political confrontation, INEC has continued preparations for the election.

The commission originally scheduled the Osun governorship election for August 8, 2026, but the poll is now officially scheduled for tomorrow, Saturday, August 15.

Former Osun Resident Electoral Commissioner, Dr Mutiu Agboke, played a substantial role in preparations before his transfer.

In April 2026, INEC transferred Agboke from Osun to Ondo State. In his farewell message, he thanked stakeholders for their support during his tenure. Before his departure, he had continued meetings with stakeholders and discussions on voter-related issues and logistical concerns.

He was replaced in Osun by Oluwatoyin Babalola, an experienced INEC legal practitioner and administrator.

According to INEC’s official profile, Babalola joined the commission in 1990, rose to become Director of Legal Services and Director of Legal Drafting and Clearance, and was appointed Resident Electoral Commissioner in December 2023.

Her arrival generated its own controversy.

Some Osun residents staged a protest at the INEC headquarters in April, asking Babalola to maintain neutrality and expressing concern over speculation about the reason for her deployment.

Babalola has repeatedly said INEC will enforce the electoral rules without favouring any political party.

She said strict compliance with the Electoral Act and the INEC guidelines would guide the commission’s actions before, during and after the election.

Operational preparations have also advanced.

INEC said 3,763 BVAS devices would be deployed to the state’s 3,763 polling units, with 664 additional devices kept as backups. The commission said the devices would be used for voter accreditation and the uploading of polling-unit results to the INEC Result Viewing Portal.

The commission has also invited accredited civil society organisations to observe the election, with the formal observer accreditation process opened ahead of the August 15 poll.

Civil society enters the election space

Beyond political parties and government institutions, civil society organisations have played a growing role in the preparations.

The International Press Centre, IPC, and Centre for Media and Society, CEMESO, have organised stakeholder engagements aimed at strengthening cooperation among electoral actors, promoting peaceful participation and addressing issues capable of undermining the election.

A wider election observers hub, involving CEMESO, ElectHER, IPC, the Nigerian Women Trust Fund, TAF Africa, the Kukah Centre and Yiaga Africa, also presented a pre-election assessment of the state.

The organisations identified political competition, institutional tension, security concerns, information disorder and the exclusion of marginalised groups as issues requiring attention ahead of the poll.

Kimpact Development Initiative has also maintained election violence monitoring in the state.

KDI reported that it documented 44 election-related violent incidents between October 2025 and June 2026, resulting in 13 fatalities, injuries and property destruction. It also recorded 24 non-election-related violent incidents during the same period, with 23 fatalities.

KDI Executive Director, Bukola Idowu said the election should be associated with peaceful participation and informed citizen choice rather than bloodshed and intimidation.

“The 2026 Governorship Election should be remembered for peaceful participation, credible competition, informed citizen choice, and the collective maturity of stakeholders, not for bloodshed, intimidation, and fear,” Idowu said.

TAF Africa has concentrated particularly on inclusion.

The organisation trained 150 Persons With Disabilities, PWDs, as election observers under its Able2Vote initiative ahead of the Osun poll. It has also participated in citizens’ town hall activities and discussions on inclusive reporting and participation.

The Kukah Centre, Yiaga Africa and other organisations have similarly been involved in voter education, observation, stakeholder engagement and election-integrity initiatives.

These interventions have added another layer to the election beyond the activities of the political parties.

What awaits Osun on August 15

The political history leading to the 2026 election has, therefore, been marked by continuity and change.

Adeleke goes into the contest as the incumbent governor who won the 2022 election, survived a tribunal defeat and ultimately received final judicial confirmation from the Supreme Court.

Oyetola is in the election indirectly, having left the governorship contest but remaining a central figure in the APC’s political structure and supporting the party’s campaign for a return to government.

Oyebamiji is flying the APC flag after a consensus-based primary involving 1,660 delegates.

Salaam leads the ADC into the battle after securing 520 valid votes at his party’s primary.

Meanwhile, Adeleke’s movement from PDP to Accord changed political discourse in the state, reshaping the traditional party alignments that existed when he won.

UN decries Taliban actions against Afghan women, girls

A new report by the United Nations said women and girls in Afghanistan have been systematically stripped of their rights since the Taliban seized power in August 2021.

The UN decried the imposition of over 100 decrees targeting women and girls, restraining work, freedom of movement, and education, calling it “institutionalised discrimination”.

The exclusion of females from schools, jobs, public life, justice systems, and healthcare has intensified since 2025, worsening the “world’s most severe women’s rights crisis”, UN Women said.

The agency observed that the restrictions, alongside shorter life expectancy, higher risks of maternal death, child marriage, and gender-based violence, have also triggered a mental health crisis.

Half of the women interviewed by the UN body revealed they leave home only once or twice a month and feel unsafe outside without a male guardian, confirming waning fundamental rights.

UNESCO estimated that, as of 2026, 2.4 million girls remain excluded from secondary education, with limitations reversing two decades of progress in expanding access to education.

In a statement, the agency declared Afghanistan is the only country on earth to formally prohibit access to education for girls and women beyond the primary level.

UNESCO insists the situation violates their fundamental human right to learn and “risks condemning Afghanistan to decades of lost potential, deepening poverty, and irreversible harm”.

In another report, the UN noted that Afghanistan, under the Taliban rule, is witnessing human rights violations, detention, and discrimination against women and girls.

The UN Assistance Mission reported a significant lack of public information on the status of investigations or actions to hold perpetrators of human rights violations accountable.

As part of Sharia Law implementation, the Taliban set up the Security and Filtration Commission and the Ministry of Propagation of Virtue and Prevention of Vice, replacing the constitution.

UNAMA urges the authorities to strengthen accountability across all security institutions by ensuring clear rules, procedures, and codes of conduct, consistent with international standards.

Kebbi police reactivate Operation Velvet, strengthen traffic enforcement

Kebbi State Police Command has reactivated Operation Velvet, a traffic enforcement exercise aimed at improving road safety, enforcing traffic regulations and maintaining order across the state.

The development was contained in a statement issued on Thursday by the Police Public Relations Officer, SP Bashir Usman.

According to the statement, the operation will commence on Friday, August 14, 2026, and cover violations involving tinted-glass permits, one-way driving, vehicle registration, fake or obscured number plates and other traffic-related offences.

The Commissioner of Police, Umar M. Hadejia, said the exercise would complement ongoing security operations, noting that criminals could exploit unregistered vehicles and obscured number plates to evade detection and facilitate criminal activities.

The command directed officers participating in the exercise to conduct themselves professionally and respect the rights of road users.

It warned that officers found engaging in extortion, harassment or other forms of misconduct would face disciplinary action.

The command urged motorists to ensure their vehicles comply with applicable regulations and to observe traffic rules.

It also encouraged members of the public to report suspicious activities, extortion or unprofessional conduct by police personnel through appropriate channels.

CDCFIB recruitment: FG disowns postponement notice

The Federal Ministry of Interior has dismissed a widely circulated notice claiming that the ongoing recruitment exercise by the Civil Defence, Correctional, Fire and Immigration Services Board, CDCFIB, has been postponed until after the 2027 general election.

The ministry described the document with the title: “CDCFIB Recruitment Update”, dated August 11, 2026, as fake and fraudulently attributed to the Minister of Interior, Olubunmi Tunji-Ojo.

In a statement issued on Thursday, it said, “The Ministry wishes to state unequivocally that this press release is fake, unauthorised, and fraudulent. The Minister did not sign or issue this statement”.

The ministry also rejected claims that funding challenges had forced the government to suspend the exercise, insisting that no such decision had been taken.

“No decision has been made to defer the recruitment exercise until after the 2027 general election. The exercise is ongoing,” the statement added.

The clarification comes amid concerns among applicants following the circulation of the alleged postponement notice on social media.

The ministry urged the public to rely only on official communication channels for recruitment updates.

“Members of the public and applicants are strongly advised to disregard this document in its entirety and to rely solely on information published through the Ministry’s and CDCFIB’s verified platforms,” it stated.

The statement was electronically signed by the Permanent Secretary of the Ministry of Interior, Dr. Magdalene Ajani, who also warned applicants to be cautious of misleading recruitment information circulating online.

Abia govt bans tricycle operators on selected routes

Abia State Government has ordered all tricycle operators to stop operating on the Umuahia–Obowo–Owerri route.

It also directed the immediate stoppage of tricycle movement from Umuahia to Ohafia and Arochukwu, with a directive that all defaulters be arrested.

In a statement, the state’s Commissioner for Transport, Chimezie Isaac Ukaegbu, said the measure was aimed at ensuring sanity, order, and safety on the state’s roads.

He warned that any tricycle operator found violating the directive would be arrested, adding that the tricycle belonging to the violator would be impounded.

The government urged all affected tricycle operators, popularly known as Keke NAPEP, as well as members of the public, to comply with the directive.

Responding to panic among operators in Umuahia, Ukaegbu said the policy was targeted only at long-distance journeys, stressing that it was not a total ban on tricycles in the state.

“Keke (tricycle) operators are not banned from operating in Abia State.

“The restriction only applies to the use of tricycles for long-distance passenger transportation to destinations such as Owerri, Obowo, Mbaise, and Arochukwu,” Ukaegbu said.

Recapitalisation to drive H2 2026 lending, tech expansion

The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso.Nigeria’s banking industry is heading into the second half of 2026 with improved capital positions after completing the Central Bank’s recapitalisation exercise, as lenders are expected to channel the additional funds into expanding credit, enhancing technology and building long-term resilience. JIDE AJIA reports

Following the conclusion of the CBN’s 24-month recapitalisation exercise, financial institutions across the country are entering the second half of 2026 with significantly fortified capital bases.

The policy, introduced by the CBN Governor Olayemi Cardoso in March 2024, mandated substantial capital increases, raising minimum paid-in capital to N500bn for international commercial banks and N200bn for national lenders, to build sector resilience and support Nigeria’s target of a $1tn economy by 2030.

The newly injected capital proceeds, raised via public offers, rights issues and private placements, are now set to reshape industry strategy as the primary catalyst for expanded credit delivery to the real sector and accelerated technology investments.

Highlighting this strategic pivot, analysts at Meristem Research, in their monthly review released on Wednesday, stated, “In light of the recently completed recapitalisation exercise for the banking sector, as indicated, we anticipate that banks within our universe of coverage will utilise the proceeds to grow their capital base, invest in improved technological adoption, and increase loan advances to the real sector”.

Market intelligence indicates that domestic lenders plan to deploy these expanded capital buffers towards building resilient loan books and upgrading critical operational infrastructure.

This strategic redeployment comes at a pivotal juncture, enabling institutions to navigate ongoing high-yield environments while positioning themselves for long-term operational resilience.

Beyond capital accumulation, the deployment strategy emphasises technology adoption to improve efficiency and customer reach. Financial institutions within the coverage universe are leveraging their enhanced capital positions to upgrade IT systems, automate core banking infrastructure and broaden institutional coverage.

Simultaneously, the expanded equity base enables banks to absorb credit risks more effectively, facilitating targeted credit flows into key real-sector industries, including manufacturing, agriculture and commerce.

The structural changes are already reflecting positively across financial market metrics. In July 2026, the Nigerian Banking Index posted a sharp month-on-month recovery of 22.10 per cent, reversing earlier profit-taking trends as institutional investors positioned themselves around Tier-1 heavyweights.

Strong performance across top-tier lenders, such as FIRSTHOLDCO, which posted record half-year gross earnings of N1.93tn, underscores how diversified revenue models and improved funding efficiency are translating into robust shareholder value.

Looking ahead to the remainder of 2026, analysts maintain a broadly positive outlook for the banking landscape, noting that the combination of newly raised recapitalisation proceeds, sustained net interest margins and ongoing digital transformation is expected to drive sector earnings, spur corporate growth and reinforce overall systemic stability.

NGX sheds N613bn as bearish momentum persists

NGXThe Nigerian Exchange Limited closed trading on Thursday on a slightly bearish note, extending a multi-day pullback. The All-Share Index declined by 949.71 points, or 0.39 per cent, to close at 243,017.38 points, down from the 243,967.09 points recorded on Wednesday.

In tandem with the index decline, total equities market capitalisation contracted by N613.08bn to settle at N156.88tn.

Selling pressure was broad-based across major market sectors, as reflected in the sectoral indices. The NGX Main-Board Index slid to 10,939.43, while the NGX 30 Index dropped to 8,907.98. Banking equities recorded a soft retreat, with the NGX Banking Index dipping to 2,553.87.

The Insurance Index fell to 1,145.85, Consumer Goods decreased to 4,056.39, Industrial Goods slipped to 10,379.12, and the Growth Index contracted to 27,380.30. The Sovereign Bond Index remained unchanged at 668.35.

Market sentiment closed negative, as decliners comfortably outnumbered advancers across the trading floor.

Overall equities activity saw 4.24 billion shares exchanged across 41,389 transactions.

The equities market gainers were led by International Energy Insurance Plc, which advanced 10.00 per cent to close at N4.84, gaining N0.44. John Holt Plc followed closely, adding 9.89 per cent to settle at N10.00, while Trans-Nationwide Express Plc grew 9.75 per cent to end the session at N2.59.

SUNU Assurances Nigeria Plc appreciated 8.48 per cent to close at N3.58, and NEM Insurance Plc rounded out the top performance chart with a 6.25 per cent rally to N34.00.

On the losing side, Unilever Nigeria Plc led the decliners after shedding 9.97 per cent to close at N118.30, down by N13.10. Chellarams Plc plummeted 9.66 per cent to N10.75, while Chapel Hill Denham NIDF dropped 9.55 per cent to N147.70.

DAAR Communications Plc recorded a decline of 9.25 per cent to close at N1.57, and Cornerstone Insurance Plc sank 9.09 per cent to finish at N5.00.

Large-cap and tier-one banking counters displayed mixed movements throughout the trading session. United Bank for Africa Plc advanced 1.21 per cent to N46.00, and Ecobank Transnational Incorporated gained 3.64 per cent to reach N74.00.

On the other hand, Zenith Bank Plc slipped 2.24 per cent to N122.00, and Access Holdings Plc declined 3.28 per cent to settle at N26.50.

Trading in Exchange Traded Products logged 746 trades with 307,433 units executed. Top gains in the segment were led by The SIAML Pension ETF 40, which rallied 8.20 per cent to close at N2,600.00, and Meristem Value ETF, which added 1.54 per cent to end at N132.00.

Conversely, Vetiva Banking ETF fell 3.31 per cent to N34.81, and VSPBond ETF dropped 3.06 per cent to N222.00.

Oil output, reforms sustain Nigeria’s economic growth – OPEC

Oil output, reforms sustain Nigeria’s economic growth – OPECNigeria’s economic outlook remains positive as improved macroeconomic stability, steady oil production, recovering private-sector activity and continued reforms support economic expansion, the Organisation of the Petroleum Exporting Countries has said.

OPEC stated this in its latest assessment of the Nigerian economy, noting that the country’s economy expanded by 3.9 per cent year-on-year in the first quarter of 2026.

The growth rate was only slightly below the 4.0 per cent recorded in the fourth quarter of 2025, confirming that economic growth remained close to recent highs.

According to the oil producers’ organisation, the non-oil economy continued to provide the main support for growth, with activity driven by agriculture, manufacturing, construction, trade, finance and insurance.

It said higher oil output had also improved fiscal revenues, foreign exchange inflows and external buffers. “The economy expanded by 3.9 per cent, year-on-year, in 1Q26, only slightly below the 4Q25 pace of 4.0 per cent, confirming that growth remains close to recent highs,” OPEC stated.

The organisation said survey indicators pointed to continued, though moderating, momentum in private-sector activity. It noted that the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index eased to 52.5 in July, from 53.4 in June and 54.1 in May.

The July reading, it said, was the weakest since March but still signalled a sixth consecutive monthly improvement in private-sector conditions. OPEC said firms again reported a marked increase in new orders, supported by improved customer demand, better pricing and new product launches.

It added that output and employment also rose modestly during the month. The organisation said higher domestic refining capacity, particularly improved fuel supply from the Dangote Petroleum Refinery, should further support energy availability and reduce some of the pressures associated with petroleum imports.

“Higher domestic refining capacity, including improved fuel supply from the Dangote refinery, should continue to support energy availability and reduce some import-related pressures,” OPEC stated.

The Dangote refinery, with a nameplate capacity of 650,000 barrels per day, has become a major source of locally refined petroleum products as its operations have expanded.

The refinery’s increased supply of petrol and other refined products has also reduced some of the country’s reliance on imported petroleum products, in line with the impact highlighted by OPEC.

On inflation, OPEC said pressures had begun to soften, with headline inflation standing at 15.9 per cent year-on-year in both June and May. “The July PMI pointed to softening input costs, despite higher fuel and raw material costs,” the organisation stated.

The report said the moderation in input costs was an indication that some cost pressures facing businesses had begun to ease, although higher fuel and raw material costs remained a challenge.

OPEC said Nigeria’s near-term outlook remained positive, with oil production, reform progress, infrastructure investment and stronger business activity providing support.

“Overall, Nigeria’s near-term outlook remains positive, supported by oil production, progress on reforms, infrastructure investment, and stronger business activity,” it stated.

The organisation’s assessment comes as increased oil production continues to strengthen Nigeria’s fiscal position and foreign exchange inflows, while reforms and infrastructure investment support activity outside the petroleum sector.

The non-oil economy’s contribution remains significant, with agriculture, manufacturing, construction, trade, finance and insurance identified as the major drivers of activity.

Meanwhile, the July PMI data indicated that private-sector businesses continued to expand despite the moderation in the pace of growth. Firms reported increased new orders as customer demand improved, while better pricing and new product launches also supported activity.

Output and employment recorded modest increases, pointing to continued expansion in business activity. OPEC said the combination of improved macroeconomic stability, steady oil production and continued reform momentum had strengthened Nigeria’s economic outlook.

With domestic refining capacity also increasing, the organisation expects improved fuel availability to support energy supply while easing some import-related pressures.

The organisation maintained that the country’s near-term prospects remained favourable, supported by higher oil output, reforms, infrastructure investment and stronger private-sector activity.