NEM Insurance begins 3rd She Means Business competition

NEMNEM Insurance Plc has announced the commencement of the third edition of its flagship gender-focused initiative, the ‘She Means Business’ contest.

According to the underwriter, the annual contest opened on 16 February 2026 and is scheduled to close on 28 February 2026.

Speaking on the initiative, General Manager, Corporate Services, NEM Insurance Plc, Mrs Mojisola Teluwo, said that the programme is part of the underwriter’s commitment to promoting entrepreneurship and deepening financial inclusion among women in the country.

In this year’s edition, three outstanding female entrepreneurs will be selected to receive a cash grant of N250,000 each to scale their business operations.

She noted that the contest is a strategic response to the need for grassroots economic empowerment.

Teluwo stated, “At NEM Insurance, our mission extends beyond providing world-class insurance products; we are deeply invested in the growth of the communities we serve.

The ‘She Means Business’ contest, now in its third phase, is our practical way of inspiring inclusion.

“We recognise the pivotal role women play in the economy, and we are proud to provide this N250,000 financial catalyst to help three visionary women turn their business aspirations into reality.”

In a bid to foster creativity and digital engagement, the insurer has outlined a seamless entry process for prospective participants. Participants are to create a one-minute video articulating specific actions to accelerate their business on social media.

Industry observers believe that such initiatives by NEM Insurance continue to enhance the corporate image of the insurance sector, shifting the narrative toward proactive social investment and the development of the Small and Medium-sized Enterprises segment in Nigeria.

Naira hits two-year high at 1,347/$

Naira NotesThe naira has strengthened sharply in recent weeks, reaching one of its strongest levels in nearly two years, even as rising foreign portfolio inflows increase the risk of investor profit-taking later in the year, according to a macro update by CardinalStone.

According to the report, the naira has witnessed a steep appreciation in the official market (+6.9 per cent year to date), reaching one of the strongest levels of the past two years (1,347.78/$ on Monday), which indicates improved liquidity conditions in the official foreign-exchange window.

However, the spread between the official and parallel markets persisted, with the parallel market initially trading at about a 5.7 per cent premium before narrowing to roughly 3.2 per cent following renewed FX interventions by the Central Bank of Nigeria.

CardinalStone said the narrowing spread suggests “there was more liquidity in the official window than in the parallel market.”

Last week, the apex bank permitted licensed Bureau de Change operators to access FX through authorised dealers at prevailing market rates, with a weekly purchase limit of $150,000 per BDC subject to KYC requirements. BDCs must also sell unused balances within 24 hours to prevent hoarding, while cash transactions are capped at 25 per cent of total FX trades, with settlement required through licensed financial institutions.

CardinalStone noted that with 82 licensed BDCs, potential supply to the segment could reach about $50m monthly, which is below the more than $1bn supplied monthly before COVID-19.

The disparity, the report said, reflects “material improvements in the FX market that reduced speculative demand and routed most corporate FX requirements to the official window”.

Still, the renewed supply has eased retail FX pressures, helping compress the parallel market premium.

On the foreign portfolio investment side, the analysts warned that continued currency gains could trigger portfolio rebalancing by foreign investors.

“Nigeria’s carry trade remains one of the most compelling across EM and frontier markets, continuing to attract sizable foreign portfolio inflows. We estimate outstanding FPI positioning at roughly $12.0–$14.0bn.

“Working with the assumption that a significant proportion of the 2025 inflows entered the Nigerian market at a rate of N1,500.00/$, we estimate FX gains of 22.4 per cent on currency alone if the naira strengthens to the midpoint of N1,200.00/$ to N1,250.00/$. Such a gain could potentially increase the risk of foreign portfolio exits, especially considering a likely build-up in uncertainties ahead of the general elections,” said the experts.

Ahead of Monday’s Monetary Policy Committee meeting of the CBN, the analysts noted that the indicators likely to shape the committee’s decision were sending mixed signals.

“On one side, inflation is moderating and short-term rates are converging around 22.0 per cent, which is about 500 bps lower than the MPR of 27.0 per cent. On the flipside, the recent body language of the CBN shows low tolerance for liquidity after the governor stated at the National Economic Conference that the liquidity overhang is a major risk to the stability achieved through recent policy reforms.

“So far this year, the CBN has net-issued N10.9 tn through OMO and has left the SDF rate attractive for banks to deposit with the CBN in a bid to avoid liquidity stoking renewed inflationary pressure. The CBN is also concerned about election-related liquidity, which is expected to become more pronounced in the second half of the year. Furthermore, of the total expected liquidity of N44.2 tn in 2026, over 75.0 per cent is expected in the first half of 2026.

It stated, “As such, we perceive that the CBN may be inclined towards holding the policy rate constant to signal its concern about liquidity risk while making an adjustment to the asymmetric corridor to align the SDF rate to OMO yields with a view to guarding the attractiveness of OMO and securing banks’ presence as key counterparties to investing FPIs. We see a 60.0 per cent probability of this view panning out and a 40.0 per cent probability of an indicative 50-100 bps rate cut.”

Looking ahead, CardinalStone said the forward-market pricing suggests a weaker currency trajectory later in the year. Six-month non-deliverable forwards indicate a rate near N1,449.96/$ in the early second half, with CardinalStone’s base-case range set at N1,350–1,450/$ for 2026.

Banks, telcos end four-year N300bn USSD debt dispute

Gbenga AdebayoBanks and telecommunications operators in Nigeria have ended a four-year dispute over nearly N300bn owed for Unstructured Supplementary Service Data services, with the debt now fully cleared, the Association of Licensed Telecommunications Operators of Nigeria said.

ALTON’s Chairman, Gbenga Adebayo, announced the resolution on Thursday during an official visit to the Chairman of the Nigerian Communications Commission, Idris Olorunnimbe. He credited the intervention of the NCC, led by its Executive Vice Chairman, Dr Aminu Maida, with bringing the long-standing dispute to a close.

“When Dr Maida assumed office, he inherited significant industry challenges,” Adebayo said. “One of the most difficult was the USSD debt crisis, a debt burden that grew over four years to nearly N300bn. It had become a systemic risk to our sector and the digital financial ecosystem.

Through firm leadership, structured engagement, and decisive coordination, Dr Maida and his team resolved this issue.

Today, there is no outstanding USSD debt. The ecosystem has fully migrated to end-user billing. What was once a looming crisis has been converted into a sustainable framework.”

The clearing of the debt ends years of accusations and counter-accusations between banks and telecom operators, which had threatened the stability of digital financial services in the country.

Adebayo praised the NCC’s leadership for steering the telecom sector through one of its most delicate periods, noting other interventions, including last year’s approval of a 50 per cent USSD tariff. He described the resolution of the debt crisis as a milestone for the telecom and digital finance ecosystem, ensuring sustainability and predictability for operators and service providers.

Nigeria’s telco and bank billing for USSD services transitioned to the end-user billing model in mid-2025, moving charges from bank accounts to customers’ mobile airtime, which is deducted directly by telecom operators. This shift resolved the long-standing dispute in which banks owed operators up to N300bn in unpaid USSD fees.

The transition arose from years of tension between telecom operators, including MTN and Airtel, and banks over USSD revenue sharing, with debts peaking at N250–300bn by 2024. The NCC, in collaboration with the Central Bank of Nigeria, developed the EUB framework to standardise billing, enhance transparency, and support financial inclusion for unbanked users who rely heavily on USSD codes.

Under the EUB system, charges are now deducted directly from mobile airtime at N6.98 per session lasting up to 120 seconds, with user consent prompts issued before each deduction. Banks no longer bill for USSD services; telcos handle them exclusively, with regulatory safeguards preventing double-billing. Users can opt in or out of the service, and banks are required to notify customers in advance of any USSD session charges.

Migration to the EUB model began between June 3 and 18, 2025, following partial debt repayments amounting to N171bn. By February 19, 2026, banks had fully cleared the remaining debt, solidifying the EUB rollout.

The model improves user control through immediate airtime deductions and session notifications, similar to voice and SMS billing. While some critics have expressed concern over potential burdens on low-income users, the transition strengthens telecom revenue sustainability and contributes to the stability of Nigeria’s digital financial ecosystem.

FAAN, MTN Nigeria Launch Free Airport WiFi Service in Public-Private Partnership

The Federal Airports Authority of Nigeria (FAAN), in partnership with MTN Nigeria, has launched free WiFi services at the Murtala Muhammed International Airport (MMIA) Terminal 2, Lagos, and the Nnamdi Azikiwe International Airport, Abuja.

The official launch of the internet service took place at MMIA Terminal 2, Lagos, and was launched by the Managing Director/Chief Executive, FAAN, Mrs Olubunmi Kuku, who was represented by the Director of Airport Operations, Captain Abdullahi Mahmood. Also present was Lynda Saint-Nwafor, Chief Enterprise Business Officer of MTN Nigeria, who represented the Chief Executive Officer, Mr Karl Toriola.

The WiFi service, which is completely free for passengers and airport users, will be extended to the MMIA temporary terminal and other international airports across the country within the next three months.

In his address, Captain Mahmood described the launch as a milestone for FAAN and a benchmark for digital infrastructure and passenger experience at Nigerian airports.

He noted that the partnership with MTN Nigeria demonstrates how effective Public-Private Partnership (PPP) alignment can modernize infrastructure and strengthen Nigeria’s digital economy.

The Director of Airport Operations added that the initiative aligns with the Renewed Hope Agenda of Bola Ahmed Tinubu and the transformation drive of the Minister of Aviation and Aerospace Development, Festus Keyamo.

In her remarks, Saint-Nwafor assured that the service would be reliable, secure, and efficient for all users. She commended the FAAN management team for its collaboration and foresight in ensuring the successful completion of the project.
APC holds ward congresses in Kebbi, elects new executives

Kebbi State Governor, Nasir Idris, on Wednesday, monitored the All Progressives Congress, APC, ward congresses held across the state, pledging to work with newly elected party officials.

Idris observed the exercise alongside party leaders, including the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu; Senator Muhammad Adamu Aliero; the APC National Organising Secretary, Suleiman Muhammad Argungu; and the State APC Chairman, Abubakar Kana-Zuru.

The governor visited selected venues, including Kauran Gwandu Primary School and Justice Ibrahim Umar Primary School in Birnin Kebbi, where ward congresses were conducted.

Party officials said the congresses were held across the 225 wards in the state and produced new ward executives through a consensus process.

Speaking at one of the venues, Idris said his administration would cooperate with the newly elected ward leaders in advancing party and government programmes at the grassroots level.

The APC State Chairman, Kana-Zuru, stated that the consensus process followed consultations with stakeholders and complied with party guidelines.

The Chairman of the Ward Congress Committee, Abdulmalik Mahmood, said the exercise adhered to the party’s constitution.

The congresses were conducted on the same day the holy month of Ramadan commenced.

INEC registers over 1.2 million new voters in ongoing CVR exercise

The Independent National Electoral Commission, INEC, has announced a significant rise in voter enrolment under the ongoing Continuous Voter Registration, CVR, exercise, revealing that more than 1.2 million Nigerians have successfully registered in the second phase of the programme.

In an update shared on its official X platform on Thursday, the Commission disclosed that as of February 13, 2026, a total of 1,228,648 eligible voters had completed registration during Phase II, Week Six of the exercise.

This represents a sharp increase from the 884,737 registrants recorded at the close of Week Five.

INEC’s data shows that 673,124 applicants initiated their registration through the online pre-registration portal, while 555,524 individuals finalised the process at designated physical registration centres nationwide.

A state-by-state analysis indicates that Jigawa State recorded the highest number of new registrants, with 98,698 voters, accounting for 8.03 per cent of the total figure.

It is followed by Lagos State (86,307), Sokoto State (77,004) and Kano State (71,990).

The gender distribution reveals that women account for the majority, with 696,891 registrants (57 per cent), while men make up 531,757 (43 per cent).

In terms of age, young Nigerians between 18 and 34 years dominate the registration figures, numbering 848,066, or 69.02 per cent of the total.

INEC also reported that 19,414 Persons with Disabilities, PWDs, have registered nationwide so far.

The Commission noted that the CVR exercise is currently ongoing across the country, except in the Federal Capital Territory, FCT, where registration has been suspended in compliance with the Electoral Act ahead of the February 21, 2026, Area Council elections.

Phase II of the CVR commenced on January 5, 2026, and is scheduled to run until April 2026. It follows Phase I, which took place between August and December 2025, during which approximately 2.78 million new voters were added to the national register.

Gas flare: We no longer sleep at night – Akwa Ibom community (Video)

For the people of Ikot Ebidang in Onna Local Government Area of Akwa Ibom State, sleep has been murdered following the oil and gas exploration activities in their community.

Aside from the smell of the noxious gas discharge that hits anyone who enters the community, the tumultuous sounds from the gas flare sites have sacked some residents and rendered those who do not have alternative homes sleepless.

Ikot Ebidang, host to the Oil and Gas company, Natural Oilfield Service (Sterling Global) has raised the alarm over destruction of their environment, poor crop yield and poor health outcomes through fossil fuel extraction.

One thing remarkable in the sleepy community is the preponderance of darkened and corroded rooftops due to combustion residues from the flare stack.

Speaking during a dialogue on renewable energy, the people decried the destruction of aquatic ecosystems, farm crops, as well as heat and skin rashes which have become very common.

One of the community stakeholders narrated, “We have lost a lot of people in our community, our health is in danger.

“If you are coming into the community, you will be perceiving the gas not to talk of those living around the site. This is not just natural global warming but community burning.

“The soil nutrient is reducing and the gas flare has altered aquatic life. Our forest and rivers are polluted. I don’t know if it’s at the expense of one man or two who wants to do business, we are dying, we need help.

“If you stay here till around 7- 8 pm when everywhere is quiet, the sound alone is like an earthquake, people are afraid of what will happen next.”

Meanwhile, the operating company did not sneak into the community to begin its activities, there must be a Memorandum of Understanding (MoU) between them, the government and the community.

To this end, people of Ikot Ebidang have called for the renegotiation of the MoU granting the company access to their community to adequately address concerns around pollution and environmental harm.

In a communique, the people called on the Akwa Ibom government to halt fossil fuel extraction activities, and the operating company to pipe associated gas away from residential areas rather than flaring within the community.

“Continued flaring within the community worsens health outcomes, environmental degradation, and community vulnerability.

“The community must be compensated for livelihood losses and damages resulting from oil extraction, alongside the provision of adequate health facilities to help residents cope with ongoing impacts,” the communique added.

Gasflaring is illegal – Expert

According to an environmental expert, Dr Nnimmo Bassey, who is also the Executive Director of Health of Mother Earth Foundation, (HOMEF), one of the facilitators of the dialogue, gas flaring remains illegal and a violation of human rights in Nigeria, especially when done where people are living.

He stated that every community in the Niger Delta has serious environmental problems, noting that from the complaints of the people of Ikot Ebidang, they have surface knowledge of the implication and life threatening effects of gas flare.

His words, “Gasflare problem is central because of its implication to human health, environmental health.

“In-fact they have not started experiencing the serious problem of gasflare, not just about noise, heat or rashes which they have largely complained of, if it continues this way, they risk reproductive problems, cancers, blood disorders and so many problems associated with gas flaring. I think people actually have a very surface understanding of what is coming.”

He promised to help the community get environmental justice and achieve their demands.

Document Evidence of Negative Impacts – Community told

Meanwhile, the community has been told to document in real time all evidence of negative impacts of gas flare and oil spill they have witnessed.

Umo Isua-Ikoh of the Peace Point Development Foundation, PPDF, also one of the dialogue facilitators, and Edem Edem, the immediate past African representative of Climate Investment Fund of the World Bank, Washington DC, in their joint presentation, harped on the need to have evidence in case either of the parties wants to institute a legal action.

“In environmental monitoring, we are looking at how you can have a good evidence should you be taken to court or you want to go to court, so you must have something the court must accept such as a real time evidence for instance if there is an oil spill, you must have a picture of the spill with GPS camera so that location will be captured.

“You can also take samples with a container, cork and label so that by the time we present it to NODSRA for testing, the test will be able to detect the asset owner.

“The community should also be able to have a picture of how the community was and how it is today. Not only for the court, also for posterity.

“For us as environmentalists, we want to see how we can encourage the communities to take monitoring and evidence documentation seriously because this will enable them to observe changes in their community.

“They can also equally begin to engage themselves to find lasting solutions to their issues,” they stated.

They also noted that communities must be compensated for livelihood losses and damages resulting from oil extraction, alongside the provision of adequate health facilities to help residents cope with ongoing impacts.

“The government must prioritise the wellbeing of communities such as Ikot Ebidang rather than sacrificing them in efforts to increase oil production to 3 million barrels per day.

“The community should be supported to train and deploy environmental advocates who can centre and champion community interests and environmental perspectives.

“The company should provide renewable energy solutions to help address energy poverty while mitigating the impacts of extractive activities on the community.

“The government must ensure routine environmental monitoring and regular air quality inspections to safeguard community health and environmental integrity,” they concluded.

ICPC takes El-Rufai into custody after release by EFCC

Former Kaduna State governor, Nasir El-Rufai, has been taken into custody by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

El-Rufai was moved to the ICPC headquarter in Abuja after spending 48 hours at the Economic and Financial Crimes Commission (EFCC), where he had earlier been granted bail.

There were initial reports that he had been arrested by the Department of State Services (DSS), which also filed criminal charges against him. However, the ICPC later clarified that the former governor is in its custody.

In a statement issued on Wednesday night, ICPC spokesperson J. Okor Odey confirmed the development.

“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to state that Malam Nasiru El-Rufai, the former Governor of Kaduna state is in our custody as at close of work today Wednesday the 18th day of February, 2026. Malam Nasiru El-Rufai is in the custody of the Commission in connection with investigations,” the statement read.

The commission did not disclose details of the investigation.

The DSS had earlier filed a three-count charge against El-Rufai at the Federal High Court in Abuja, marked FHC/ABJ/CR/99/2026.

The charges followed comments he made during an interview on ARISE Television.

During the programme, El-Rufai alleged that the ICPC, acting on the orders of the National Security Adviser, Nuhu Ribadu, had directed the DSS to arrest him. When asked how he got the information, El-Rufai said someone had tapped Ribadu’s phone and that he heard what the NSA said.

Based on that claim, the DSS accused him of unlawfully intercepting the phone communications of the National Security Adviser, an offence it said violates the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024, and the Nigerian Communications Act, 2003.

In one of the counts, prosecutors alleged that El-Rufai admitted during the interview that he and others “unlawfully intercepted the phone communications” of Ribadu.

Another count claimed he acknowledged knowing someone who carried out the interception but failed to report the individual to security agencies.

The charges also accused him and others still at large of using technical equipment to intercept communications in a manner that compromised public safety and national security.

El-Rufai, who served as governor of Kaduna State from 2015 to 2023, has also faced separate allegations of financial misconduct.

In 2024, the Kaduna State House of Assembly indicted him over the alleged diversion of N423 billion and money laundering, and asked anti-graft agencies to investigate him.

He denied the allegations and later sued the Assembly, accusing it of attempting to damage his reputation.

Lagos bans ‘korope’ buses amid protest

Lagos State Government has faulted the blockage of traffic along the CMS–Lekki–Epe Expressway by some mini-bus operators, popularly known as korope, describing the action as a breach of earlier agreements reached with transport unions.

In a statement issued by the Lagos State Ministry of Transportation, the government said the disruption occurred on Tuesday, February 17, and Wednesday, February 18, 2026, despite extensive consultations with key stakeholders.

According to the statement, the government had engaged the two major transport unions, the National Union of Road Transport Workers (NURTW) and the Road Transport Employers Association of Nigeria (RTEAN), before rolling out reforms for the Lekki–Epe corridor.

Speaking on behalf of the government, the Special Adviser on Transportation, Hon. Sola Giwa, said the actions of the protesting operators undermine the Bus Reform Initiative (BRI), a programme designed to improve transportation services along the busy axis.

“Such disruptions go against the agreements we made with the unions.

“The government has worked closely with all stakeholders to provide safe and efficient transportation for Lagos residents. We strongly encourage all operators to comply with the reform in the interest of commuters and the state,” Giwa said.

The Bus Reform Initiative, which was first discussed in 2024, is aimed at restructuring public transportation on major routes. The plan includes deploying high-capacity buses, relocating korope and mini-buses to inner arterial roads, introducing e-ticketing, regulating bus operations, and strengthening security along the corridor.

At a stakeholders’ meeting held on June 27, 2024, a formal agreement was endorsed by Giwa, the Permanent Secretary of the Ministry of Transportation, and the state leadership of NURTW and RTEAN. The meeting outlined the framework for the reform and stressed the importance of cooperation among all parties.

A follow-up meeting on December 2, 2025, fixed December 8, 2025, as the official commencement date of the reform. The first phase covers four major routes: Ajah–CMS (Marina)/Obalende, Ajah–Oshodi, Ajah–Berger, and Ajah–Iyana Ipaja.

Under the arrangement, one operator provides express services, while others run regular stopping services along the corridor.

All buses participating in the scheme are painted in the standard Lagos State blue-and-white colour scheme. They are fitted with QR codes embedded in PTCS stickers for verification, unique identification numbers, and Touch and Pay (TAP) stickers. Drivers are also required to display official Ministry of Transportation badges to promote accountability and boost commuter confidence.

Giwa reiterated the government’s commitment to formalising transport operations, improving commuter comfort, enhancing safety, and maintaining fare stability across the state.

“The success of this initiative depends on the cooperation of all transport operators.

“The state remains determined to protect commuters’ interests and ensure that Lagos continues to operate as a safe and efficient transport city,” he said.

The State Government added that it will continue engagement with stakeholders while strictly enforcing the Bus Reform Initiative, warning that non-compliance will not be tolerated.

FCT council election: Police restrict movement ahead of Feb 21 election

The Federal Capital Territory (FCT) Police Command has imposed a 12-hour restriction of movement across Abuja from 6 a.m. to 6 p.m. on February 21 to facilitate the conduct of the Area Councils’ elections.

The command’s Public Relations Officer, SP Josephine Adeh, announced the measure on Wednesday, explaining that it applies to all residents except essential service providers and individuals officially engaged in the electoral process.

Adeh said extensive security deployments have been made across the territory to maintain order and ensure a free poll.

The operation involves a joint effort by multiple security agencies, including the Nigerian military, the Department of State Services, and the Nigeria Security and Civil Defence Corps.

“Agencies involved in the deployment include the Nigeria Army, Nigeria Air Force, Nigeria Navy, Department of State Services (DSS), Nigeria Security and Civil Defence Corps (NSCDC), among others,” she said.

She quoted the FCT Commissioner of Police, CP Miller Dantawaye, as directing officers to demonstrate professionalism, and respect for citizens’ rights while on election duty.

“He also advised officers to remain vigilant, impartial, and courteous in the discharge of their duties, while respecting the rights of all citizens,” she said.

The commissioner also appealed to residents to cooperate with security personnel and observe operational guidelines during the elections.

He assured voters that adequate security arrangements are in place to support a free, fair, and peaceful exercise and encouraged them to participate without fear.

Dantawaye further urged members of the public to remain vigilant and report suspicious activities through the police emergency lines: 08032003913 and 08061581938.