Nigeria

By Salmanu Isa Darazo


Nigeria’s banking sector has entered a new phase of strength and global relevance following the successful completion of a sweeping recapitalisation exercise spearheaded by the Central Bank of Nigeria (CBN).

The exercise, which mandated banks to meet new capital thresholds by March 31, 2026, is widely regarded as the most significant reform since the 2005 consolidation era—signalling a bold regulatory shift aimed at repositioning the financial system for long-term economic transformation.


A Strategic Reform Anchored by the CBN

At the heart of the exercise is the CBN’s vision to build a resilient, well-capitalised banking system capable of supporting Nigeria’s ambition of a $1 trillion economy. By enforcing higher capital requirements, ranging from ₦10 billion for regional non-interest banks to ₦500 billion for international commercial banks—the apex bank has effectively reset the industry’s financial architecture.

The results are striking: Nigerian banks collectively raised ₦4.65 trillion, with 33 institutions meeting the new thresholds. Notably, the recapitalisation attracted both local (72.55%) and international (27.45%) investments, underscoring renewed investor confidence in Nigeria’s financial system and regulatory credibility.


Strengthening Stability and Global Competitiveness

Analysts note that the recapitalisation significantly enhances banks’ ability to absorb economic shocks while aligning Nigeria’s financial system with global standards such as Basel III.

Beyond compliance, the reform signals a transition to stronger corporate governance, improved risk management, and enhanced regulatory oversight—all driven by the CBN’s supervisory framework.

This positions Nigerian banks not just as domestic financial intermediaries, but as competitive players in the global financial ecosystem.


Unlocking Financing for National Development

A key outcome of the CBN-led reform is the expansion of banks’ lending capacity. With stronger balance sheets, financial institutions are now better equipped to fund large-scale projects across critical sectors, including infrastructure, energy, manufacturing, and technology.

This increased capacity is expected to accelerate Nigeria’s industrialisation drive and support export diversification—key pillars of the Federal Government’s economic agenda.


CBN’s Role in Policy Coordination and Economic Stability

The recapitalisation also reflects growing synergy between monetary and fiscal authorities. By aligning its policies with government growth objectives, the Central Bank of Nigeria is strengthening policy transmission mechanisms, improving liquidity management, and reinforcing inflation control measures.

This coordinated approach enhances macroeconomic stability while ensuring that financial sector reforms translate into real economic outcomes.


A Foundation for Inclusive Growth

Beyond macroeconomic gains, the reform carries significant implications for financial inclusion. A stronger banking system is better positioned to expand credit access to small and medium enterprises (SMEs), support grassroots economic activities, and deepen financial penetration across underserved communities.

The CBN’s broader objective, analysts say, is to build a financial system that is not only robust but inclusive—capable of delivering growth that is both sustainable and widely shared.










The Road Ahead

While most banks have met the new requirements, those yet to fully recapitalise remain operational and are progressing toward compliance under CBN supervision.

Industry observers agree that the recapitalisation marks a turning point—laying the groundwork for a stronger, more transparent, and globally competitive banking sector.

Conclusion

The recapitalisation exercise is more than a regulatory adjustment—it is a strategic economic intervention led by the Central Bank of Nigeria. By strengthening financial institutions, boosting investor confidence, and aligning with national development goals, the CBN has set the stage for sustained economic growth and stability.

For Nigeria, the message is clear: a resilient banking system is not just desirable—it is essential for the future.

Salmanu Isah Darazo is an analyst and publisher, he can be reached via Salmanudrz@gmail.com

By Rabi Ummi Umar

On the cool evening of Thursday, April 2nd, 2026, I returned home after an exhausting day of accomplishing my mission in Edo State, popularly known as the “Heartbeat of the Nation” for its rich cultural heritage. 

As I took a moment to unwind and pack my bags for my return journey to the Federal Capital Territory, Abuja, a thought struck me, echoing a conversation from earlier that would not easily be shaken off.

It circled back to a personal reflection titled “When We Focus on What Truly Matters.” After that heartfelt conversation with a friend, one can’t help but wonder whether we’ve truly been living out the “sermon,” especially in our own lives. 

Yet, those moments of self-doubt reveal something profound: the beauty of life lies in its openness. As long as we remain receptive, each day presents a renewed chance for self-examination and an invitation to learn and grow.

This friend, who is deeply involved in politics, spoke passionately about his thing. While I don’t typically report on government affairs, my discipline as a communicator gives me more than enough to follow along. 

Nonetheless, that specific dialogue shifted my perspective entirely. It made me realise how many others might change their minds if they were privy to the same insights. That realisation is exactly why putting those to paper became an inspiration.

The weeks in Edo allowed me to embrace a spirit of exploration, stepping outside my comfort zone to truly thrive even in spaces I never thought possible or even imagined visiting. It was the unpredictable beauty of life, perhaps why travelling is said to be a form of gaining from the vast body of knowledge.

During Ramadan, there was an event for the “City Boy Movement.” Initially, I assumed it was strictly “for the boys,” and, to be honest, the concept caught my fancy, but I kept an open mind. 

Surprisingly, it was organic and inclusive, spanning 36 states and involving men, women, the elderly, and, interestingly, the physically challenged. While “rice sharing” politics was never something to admire, I walked away that day with a much deeper understanding of the grassroots and its place in politics.

A few weeks later, a conference organised by the Senior Special Assistant (SSA) to the Governor on Student Welfare and Development, a dear friend, took place. Some attendees like myself were there simply “to see,” but the event was blown away. As someone who values authenticity and integrity over political optics, I found the turnout genuinely impressive. 

Despite being born and raised in Edo and being the daughter of a former SSA to the State Government (2023), I had never witnessed an event of this calibre in the state before. It stood out as a beacon of what is possible if everyone played their part, if and when youths are involved in the scheme of things. 

These encounters brought a realisation that while the state, like many in Nigeria, still faces significant lapses, the progress is undeniable. From new flyovers and school construction to massive infrastructural shifts, the developments in education and youth empowerment are particularly striking. 

This experience made me wonder, if so much is happening here beneath the surface, how many “small wins” are we overlooking in other states? Nigeria, as a whole, is currently weathering a storm that cannot be ignored. 

We are battling banditry, kidnapping, insecurity, and a staggering cost of living. To many, it feels as though things are only getting worse. Yet if you look more closely, there is incremental progress.

Take the education sector, for example. The era of constant Academic Staff Union of Nigeria (ASUU) strikes has finally lost its steam compared to years past. The Nigerian Education Loan Fund (NELFUND) is also there, providing loans and stipends to students; it is systematically reducing the number of students who would otherwise miss tertiary education across the country.

Of course, the heartbreak of insecurity remains. It is illogical and devastating when groups attack villages without demands, leaving only grief behind. In these moments of unrest, it is easy to point fingers solely at President Tinubu. But some of our issues start much closer to home, with us, the citizens.

I remember a friend whose father was assassinated at his doorstep; despite the proximity, every neighbour claimed they “saw nothing.” Another friend was robbed during our university days; when she screamed for help, neighbours simply locked their doors tighter. 

The bitter reality is that we rarely look out for one another. How can we expect a transformation at the top when we refuse to show humanity to those beside us?

We have become a nation of finger-pointers. Many have traded accountability for ignorance, blaming leadership for even the smallest personal failings. Too many youths today avoid research and critical thinking, choosing instead to sit back and complain, a habit that only digs our collective hole deeper.

Yes, there is a mountain of work left to do. But we must acknowledge the work already being done. Our government is trying. From my vantage point, the President is a solution-oriented leader doing his best under immense pressure.

Consider this: when inflation hits, marketers and drivers are the first to hike prices. We understand why. But when the economy stabilises, and costs drop, those prices stay sky-high under the guise of “old stock.” Is that the President’s fault, or are we our own worst enemies?

As Nigerians, we need to have these uncomfortable conversations. The popular saying “change begins with me” is not just a poetic catchphrase; it is a practical necessity. We must be the change we seek if we ever hope to experience the Nigeria we want.

As I head back to Abuja, I am carrying the lessons from Edo with me. We are making progress, but there is still a lot more to do. We all just need to pitch in to get to the utopia we deserve.

Rabi Ummi Umar is a corps member in Abuja. She can be reached via rabiumar058@gmail.com.

By Sabiu Abdullahi

The Speaker of the Kebbi State House of Assembly, Muhammad Usman Zuru, has passed away.

Zuru died on Monday night in an Egyptian hospital, where he was receiving treatment for an undisclosed illness. Sources close to the Kebbi State Government confirmed his death, but details of his condition were not released.

Until his passing, Zuru represented Zuru Constituency in the state assembly and was considered a key figure in the legislature.

Confirming the development, an aide to the governor on Communication and Strategy, Idris Zuru, described the news as shocking.

“The death of the Speaker, Rt. Hon. Muhammad Usman Zuru, came to us as a rude shock. It is a painful loss not only to Kebbi State but to the entire nation,” he said.

He added that further information would be shared by the government.

“We are still gathering full details surrounding his passing. The government will make an official statement and announce burial arrangements in consultation with the family,” Idris Zuru stated.

Additional announcements regarding funeral arrangements are expected from both the state government and the family.

By Abdullahi Mukhtar Algasgaini

The Independent Broadcasters Association of Nigeria (IBAN) has demanded that the Minister of the Federal Capital Territory, Nyesom Wike, retract his comments against journalist Seun Okinbaloye and issue a public apology, according to a report by TheCable.

IBAN also threatened to boycott all press briefings organised by Wike if he fails to meet the demand.

The threat follows Wike’s statement that he could “shoot” Okinbaloye while criticising the journalist’s opinion on a television programme. Wike later clarified that he did not mean the remark literally.

The association said that despite the subsequent clarification, such language is unbecoming of a public official, as it could intimidate journalists and further worsen the already challenging environment in which they operate.

IBAN urged the minister to retract his statement, tender an apology, and demonstrate support for press freedom, warning that failure to do so would lead them to suspend coverage of all his official activities.

By Abdullahi Mukhtar Algasgaini

The Independent National Electoral Commission (INEC) has suspended preparations for its proposed nationwide voter revalidation exercise following mounting concerns from political parties, civil society groups, and regional stakeholders.

In a directive issued to all Resident Electoral Commissioners (RECs) on April 4, 2026, the Commission ordered an immediate halt to all publicity and preparatory activities related to the exercise. The letter, signed by INEC Secretary Rose Oriaran-Anthony, instructed RECs to await further directives. The Commission also announced that its scheduled April 9 meeting with RECs will now be held virtually via Zoom.

INEC had earlier proposed the revalidation exercise as a measure to clean up the voter register by removing ineligible entries, including deceased persons, duplicate registrations, and relocated voters, with the aim of enhancing the credibility of future elections.

However, the proposal was met with swift opposition.

The African Democratic Congress (ADC) labeled the exercise a “recipe for chaos,” warning that it could disenfranchise millions of Nigerians less than 10 months before the general elections. The party’s National Publicity Secretary, Bolaji Abdullahi, argued that requiring already registered voters to revalidate their details so close to the polls could suppress turnout and deepen voter apathy.

Similarly, a faction of the Peoples Democratic Party (PDP) led by Kabiru Tanimu Turaki described the timing as “suspicious,” suggesting it could be used to illegally prune the voter rolls.

In the north, a group identifying as Concerned Former Legislators raised alarm that the exercise could reduce the region’s voting strength ahead of the 2027 elections. The group called on northern leaders, including the Arewa Consultative Forum, to intervene and ensure fairness.

Political analysts acknowledged the merit of updating the voter register but warned that the reportedly proposed three-week timeline was grossly inadequate for a country with over 90 million registered voters. They stressed that any such exercise must be inclusive and accessible, particularly for citizens in remote areas.

INEC has defended the original intent of the exercise. Its Director of Voter Education and Publicity, Victoria Eta-Messi, maintained that the goal was to produce a more credible voter register and strengthen, not restrict, electoral participation.

As of press time, the Commission has not announced a new timeline for the exercise or indicated whether it will be scrapped entirely.

By Sabiu Abdullahi

A woman believed to be mentally ill has delivered a baby girl by the roadside in Kwaita village, located in Kwali Area Council of the Federal Capital Territory (FCT).

According to Daily Trust, the incident happened in the early hours of Saturday at about 12:30 a.m. The woman was said to have given birth without assistance.

A local resident, Saidu Musa, explained that the situation came to light after a neighbour spotted the woman, who is often seen around the roadside, and raised an alarm.

“It was my neighbour who first saw her. She usually stays around the road. When he realised she had delivered a baby, he immediately alerted the police patrol team,” Musa said.

Security operatives responded shortly after the report. They moved the woman and her newborn to the General Hospital in Kwali for treatment.

The FCT Police Command also confirmed the development. Its spokesperson, SP Josephine Adeh, said officers on patrol from the Rapid Response Squad first reported the case at about 12:30 a.m.

She noted that the Gender Unit of the Kwali Division acted quickly after receiving the information and proceeded to the scene.

“The mother and her newborn were safely rescued and immediately conveyed to General Hospital, Kwali, where they received medical attention and were subsequently discharged in stable condition,” she said.

Adeh added that the authorities followed due process by informing the Welfare Officer of Kwali Area Council, Mr. Sadiq Kwali. She said both mother and child were later taken to the FCT Children’s Home in Gwako, within Gwagwalada Area Council, where they will receive proper care.

She further stated that the Commissioner of Police in the FCT, CP Ahmed Mohammed Sanusi, praised the officers for their prompt response. He said they showed compassion and professionalism in handling the situation and ensured the safety of the woman and her baby before the arrival of the Gender Unit.

By Abdullahi Mukhtar Algasgaini

President Bola Tinubu has approved a N3.3 trillion payment plan to settle long-standing debts in Nigeria’s power sector, a move aimed at restoring reliable electricity nationwide.

The debt, accumulated between February 2015 and March 2025, was verified and agreed upon as a full and final settlement under the Presidential Power Sector Financial Reforms Programme.

Implementation is already underway, with 15 power plants signing settlement agreements worth N2.3 trillion. The Federal Government has raised N501 billion for the payments, of which N223 billion has been disbursed.

According to a statehouse release, the government expects the settlement to stabilise generation, improve electricity reliability, attract investment, create jobs, and enhance service delivery.

“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector, ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” said Olu Arowolo-Verheijen, Special Adviser on Energy to the President.

She noted that broader reforms, including better metering and service-based tariffs, are also progressing. The government is prioritising power supply to businesses and industries to boost job creation and economic growth.

President Tinubu commended stakeholders involved in resolving the legacy issues and confirmed that the next phase (Series II) will begin this quarter.

By Usman Muhammad Salihu

I watched in horror as news spread of yet another attack on travellers in Plateau State. Young men from Jos, simply trying to earn a living, were killed on their way to Pankshin in a reprisal following earlier killings in Dorowa Babuje. Families are mourning. Communities are tense. Anger is rising.

This is not the first time. Years ago, youths travelling for a wedding near Barkin Ladi were ambushed and killed. Retaliatory attacks followed, claiming even more lives, many of them innocent passersby. That period left deep scars on families and entire communities. It taught a painful lesson: revenge rarely reaches the original perpetrators; it only multiplies suffering.

Recently, another tragedy unfolded along Nding Road. Young, hopeful traders were attacked. Even before the dust settled, calls for retaliation began echoing across the streets and social media. Roads were blocked. Vehicles were targeted. Innocent travellers were exposed to danger. We are dangerously close to repeating a cycle we already know too well.

Over the years, many travellers have been attacked along Plateau’s highways—routes that should symbolise commerce, connection, and coexistence. In too many cases, investigations fade quietly, and justice remains unseen. When there are no visible consequences, anger festers. When justice appears absent, reprisal begins to look like an option. That is how cycles of violence sustain themselves. Jungle justice thrives where trust in formal institutions weakens and where communities feel unheard, unprotected, or unfairly treated.

The perception, rightly or wrongly, that perpetrators are shielded by ethnic, political, or religious affiliations fuels suspicion and collective blame. But collective punishment is neither lawful nor moral. It transforms victims into aggressors and bystanders into casualties. It erodes the moral authority of communities that claim to seek justice and undermines the rule of law that binds a plural society together.

Social media has further complicated the crisis. Unverified reports, inflammatory language, and emotional commentary spread faster than facts. Within minutes, outrage can mobilise crowds before security agencies even understand what happened. In such an atmosphere, rumour becomes fuel and anger becomes action. What begins as grief quickly mutates into organised retaliation, with highways turning into battlegrounds and innocent travellers paying the price for crimes they did not commit.

Plateau has buried too many sons whose only crime was being on the road at the wrong time. Too many promising lives have been cut short by anger that could have been contained. Traders, students, farmers, and artisans now travel with anxiety, unsure whether they will return home safely. A state blessed with cultural diversity and economic potential should not be defined by recurring roadside violence.

Leadership at this moment must transcend emotion. Statements from influential figures—traditional rulers, political actors, youth leaders, clerics, and civil society voices—can either soothe or inflame the situation. Public calls for revenge put ordinary citizens in the crossfire, turning them into substitutes for unseen perpetrators.

Silence in the face of incitement is equally dangerous. Responsible leadership demands restraint, clarity, and an unwavering insistence on lawful redress.

Justice, not vengeance, is the only sustainable path forward. Security agencies must conduct thorough, impartial investigations into all recent attacks and ensure that those responsible are identified and prosecuted, regardless of ethnicity, religion, or social standing. Security presence must be strengthened along vulnerable highways and flashpoints, while rapid-response mechanisms should be improved to prevent escalation after incidents. Communication with the public must also be clear and consistent to rebuild trust and counter misinformation.

Government at both state and federal levels must demonstrate that accountability is neither selective nor symbolic. When arrests are made, the public should be informed. When prosecutions begin, they must be pursued diligently. When convictions occur, they should reflect the gravity of the offence. Justice must not only be done; it must be seen to be done. Beyond enforcement, preventive strategies such as community-based early warning systems, interfaith dialogue platforms, youth engagement programmes, and civic education campaigns are essential to reduce vulnerability to mobilisation for violence.

Retaliation does not restore dignity. It does not bring back the dead. It only creates new victims, new grief, and new reasons for the next cycle of violence. If anger becomes policy and revenge becomes justice, the funerals will continue. But if law, accountability, and responsible leadership prevail, the cycle can be broken.

Plateau deserves better. Travellers should not fear the roads. Traders should not fear earning a living. Communities should not live on the edge of retaliation. If we truly want this violence to end, then justice must speak louder than anger. Anything less will only prepare the ground for the next funeral.

Usman Muhammad Salihu is a PRNigeria Fellow and writes from Jos via: muhammadu5363@gmail.com.

By Abdullahi Mukhtar Algasgaini

The Independent National Electoral Commission (INEC) has announced a mandatory revalidation exercise for every Nigerian who obtained a Permanent Voter’s Card (PVC) between 2011 and 2024.

Contrary to widespread assumptions, this process is not a fresh voter registration but a verification and update exercise.

The revalidation can be completed online via the official INEC portal: https://cvr.inecnigeria.org

Steps for online revalidation:

1. Create an account using your personal details.

2. Enter the Voter Identification Number (VIN) printed on your PVC.

3. The system will direct you on where to upload a recent photograph.

4. INEC’s system will process your data to confirm that you are the legitimate owner of the card.

5. Upon successful verification, you will receive a confirmation message.

For physical revalidation:

Visit the nearest INEC center with your PVC. Officials will capture your details and take a fresh photograph. A confirmation message will then be sent to your registered phone number or email.

By Dr Aminu Tukur Adam

The recent political drama in Kano State, which began as a rumour before metamorphosing into a full-blown political battle, is interesting: how loyalty is being reinterpreted, how personal interest is being transformed into the people’s mandate, and how politics gradually takes over governance. 

It’s now becoming crystal clear to everyone that the Kano State government is not only static but also backtracking. At a critical point of state emergency and national concern, our dear state is being placed on hold. 

To begin with, APC was initially viewed as a disaster by Engr. Rabiu Musa Kwankwaso, Kano State governor and all their supporters; many of the supporters sacrificed their lives to rescue the state from the APC, a party that was hated for its immense corruption, extortion and oppression. 

As big as Kano State is, with its about 20 million population and an over 1 trillion naira budget, it will surprise you to know that the state’s executive council members are currently redundant; the council held only one executive session in the span of 90 days! The previous buzzworthy council is now scheduled for the end of recess. 

That probably explains why the only visible function of this government, road construction, is also neglected; no one is there to approve new projects or supervise the ongoing ones. 

The most unfortunate event was the visit of the Turkish ambassador to Nigeria to the Kano State government house, with the aim of consolidating multimillion-dollar projects, but astonishingly, only the Chief of Staff and two commissioners received a figure like this! For anyone familiar with the Turkish Cooperation and Coordination Agency (TIKA), it must have been a nightmare. 

TIKA isn’t like the usual agencies you see; it’s an international technical assistance agency. This same agency renovated the Kano capital school without a penny from the state government. 

We’re also talking about the Turkish Trading Firm, Direkçi, which has invested over $22 million in Nigerian states, with Kano as a major beneficiary.

The visit was intended to create an opportunity to secure scholarships for Kano state indigenes, to bring the Turkish humanitarian foundation IDDEF to boost humanitarian services in the state, and to commence visa services at the Turkish consulate in the state.

Yet, when that esteemed Ambassador walked into the Government House, he was neither received by the Governor, nor his deputy, nor the SSG.

While the governor plays an absentee landlordism, some villages in the state were burning and many lives were also lost; the recent unfortunate incident in the Katai and Fauda communities in Wudil local government generated widespread reactions, a police officer lost his life and villages were set ablaze; however, no formal press release, no condemnation and no any form of assurance from the state government. 

Astoundingly, when the governor was too busy to hold a council meeting, overwhelmed to meet the Turkish ambassador to Nigeria and also overloaded with responsibilities to comment on the Wudil incident, we saw his face in the convoy of Yilwatda, the APC national chairman, courting the governor of Bauchi state, Bala Muhammad, into APC. 

To add more salt to the injury, when the governor was returning to Kano, the local government chairmen and some of the governor’s aides orchestrated a drama, where a rented crowd were paid to welcome the governor from his political excursion. You may be surprised as to why the welcoming? Was he not just coming back from Abuja? Was the journey not a political journey for the APC’s convention? Is there any significance to this journey in the life of the innocent Kano people? 

This is the Kano first agenda they’re selling. It’s not about you or the state; it’s simply an idea to sell Bola Tinubu and his party.