News March 18, 2026 Nigeria’s Economy now better equipped to absorb global shocks — Cardoso

 

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says Nigeria’s economy has grown stronger and is now better positioned to withstand global economic shocks, following recent reforms that are boosting investor confidence.

Speaking at the Africa Capital Forum in London, on the sidelines of Bola Ahmed Tinubu’s state visit to the United Kingdom, Cardoso noted that the apex bank has implemented disciplined monetary policies and institutional reforms to reinforce the financial system.

He said the CBN is reviewing its policies to make them more predictable and transparent, reducing uncertainty for investors and ensuring a more consistent policy environment.

Cardoso also revealed that the bank has finalized a new national payments system vision, which will soon be launched to position Nigeria as a key player in digital payments and cross-border transactions across Africa.

On the foreign exchange market, he highlighted improved transparency and liquidity, adding that a revised FX manual has eased restrictions and simplified operations for businesses and investors.

Providing an update on bank recapitalisation, Cardoso disclosed that over 30 banks have already met new capital requirements, with verification ongoing for others. He added that about 28 percent of the funds raised came from foreign investors, reflecting growing trust in Nigeria’s financial system.

He further noted a significant rise in diaspora remittances, which has strengthened foreign exchange reserves and enhanced economic stability.

“Our focus is to protect the stability achieved so investors can plan with confidence,” Cardoso said, assuring continued transparency, better communication, and higher policy standards.

On digital finance, he said the CBN is working closely with fintech firms to remove regulatory bottlenecks and drive financial inclusion across Nigeria and Africa.

He also stressed the importance of coordination between monetary and fiscal authorities, noting that stronger collaboration is key to sustaining economic growth.

Cardoso added that inflation is easing, exchange rate stability is improving, and ongoing reforms are setting the stage for growth driven by local investment, oil sector reforms, and renewed global confidence.

He concluded by urging global investors to see Nigeria as “an economy to watch,” as reforms shift the country from stabilisation toward investment-driven growth.

News March 18, 2026 NELFUND disburses N206bn in student loans

 

The Nigerian Education Loan Fund (NELFUND) has disbursed more than N206 billion in student loans across 270 tertiary institutions nationwide.

The agency said the funds were released within 23 months of its launch by President Bola Ahmed Tinubu.

According to NELFUND, a total of 1,751,669 applications have been received since the loan portal opened in May 2024, with 1,164,222 students benefiting from the scheme.

Of the total disbursed, N128.84 billion was paid directly to institutions for tuition, while N77.45 billion was provided to students as upkeep allowances to cover academic and living expenses.

The agency also recorded 969 new applications in its latest update, reflecting a 0.1 per cent increase, which it described as continued public interest and trust in the programme.

Speaking on a television programme, NELFUND Managing Director, Akintunde Sawyerr, said the initiative aims to provide interest-free loans to ensure that financial challenges do not prevent students from starting or completing their education.

He assured that no qualified student would be barred from examinations due to lack of funds, while noting that proper checks are in place to ensure transparency and accountability in the disbursement process.

Sawyerr also commended Delta State University, Abraka, for allowing students with verified or approved loan status to sit for examinations upon presenting proof of application, describing it as a student-friendly approach aligned with the scheme’s objectives.

He added that such collaboration supports the broader goal of expanding access to higher education while promoting fairness and inclusiveness.

Meanwhile, the Tinubu Media Support Group (TMSG) described NELFUND’s performance as a significant milestone in the education sector, noting that over 1.16 million students have benefited in less than two years.

The group highlighted that the loans are interest-free, with repayment beginning two years after completing the National Youth Service Corps (NYSC), subject to employment, with provisions for deferment where necessary.

TMSG further stated that participation by 270 institutions and over one million students reflects growing acceptance of the scheme and expressed optimism that more beneficiaries will be reached before the end of the administration’s first term.

News March 18, 2026 JUST IN: Kano Govt approves Sanusi to head Sallah Durbar activities

 

The Kano State Government has announced that the Emir of Kano, Muhammadu Sanusi II, will lead this year’s Eid-el-Fitr Durbar, even as it unveiled strict guidelines to prevent a breakdown of law and order during the celebrations.

The government said the decision, approved by Governor Abba Kabir Yusuf, followed credible intelligence reports indicating attempts by some individuals to create unrest during the Sallah period.

In a statement issued on Wednesday by the Commissioner for Information and Internal Affairs, Ibrahim Abdullahi Waiya, the government said it remained committed to preserving Kano’s cultural heritage but would prioritise peace and security.

According to the statement, Hawan Idi (Eid Durbar) will be conducted by Emir Sanusi from the Kofar Mata Eid Ground through designated routes to Gidan Shettima, terminating at Kofar Fatalwa of the emir’s palace.

It added that Hawan Nasarawa would be held in a modified form without horseback displays, while Hawan Daushe, Hawan Fanisau and Hawan Dorayi have been suspended for the time being in the interest of public safety.

The government said all security agencies had been directed to intensify surveillance and ensure strict compliance with the directives before, during and after the festive period.

It urged residents to remain calm, law-abiding and cooperative with security agencies, while cautioning against the spread of unverified information.

The government further assured the public of its commitment to a peaceful and hitch-free Sallah celebration, wishing Muslims in the state a joyous Eid-el-Fitr.

The Durbar, a centuries-old cultural procession, has been thrown into uncertainty following conflicting statements from government officials on whether it will hold this year, given the unresolved legal battle between Sanusi II and Aminu Ado Bayero.

While Governor Yusuf reinstated Sanusi II in 2024, Bayero continues to contest his dethronement in court, leaving the emirship in dispute.

The government recently hinted that the stool controversy would soon be resolved.

News March 18, 2026 Court affirms Nigerians’ right to film Police during stop-and-search operations

 

A Federal High Court in Delta State has ruled that Nigerians are legally permitted to record police officers during stop-and-search operations in public spaces.

Justice Hyeladzira Nganjiwa delivered the judgment on Tuesday while ruling on a fundamental rights suit filed by lawyer Maxwell Nosakhare Uwaifo against the Inspector-General of Police, the Nigeria Police Force, the Police Service Commission, and the Attorney-General of the Federation.

Describing the decision as far-reaching, Uwaifo said the court affirmed that “anonymous policing is unconstitutional,” stressing that officers must be identifiable while carrying out public duties.

The case stemmed from the lawyer’s encounter with unidentified officers along the Sapele roundabout in May 2025, where he alleged intimidation and was prevented from recording their actions.

In its ruling, the court held that citizens have a constitutional right under Section 39 of the 1999 Constitution to document law enforcement activities in public. It further declared it unlawful for officers to harass, intimidate, arrest, or confiscate devices from individuals for recording them.

Justice Nganjiwa also ruled that police personnel must wear uniforms displaying visible name tags and force numbers during operations, warning that failure to do so violates constitutional provisions.

The court awarded N5 million in damages for the violation of Uwaifo’s rights and an additional N2 million to cover legal costs, reinforcing accountability and transparency in policing.

News March 18, 2026 Troops crush ISWAP invasion in Borno, 61 insurgents killed

 

Troops of Operation Hadin Kai, working alongside the Nigerian Air Force, have reportedly eliminated at least 61 ISWAP fighters during a failed infiltration attempt in Malam Fatori, Abadam LGA of Borno State.

According to counter-insurgency sources, the insurgents launched a pre-dawn assault on Wednesday, advancing on foot and deploying armed drones in a bid to breach military positions at the 68 Battalion.

However, the attack was met with heavy resistance as troops, backed by precision air strikes, engaged the fighters in a fierce battle. The coordinated ground and air response inflicted significant casualties, forcing the insurgents into a chaotic retreat.

Reports indicate that multiple air interdiction strikes targeted enemy تجمعات, crippling their operational strength and limiting movement. Additional support from Nigerien air forces intensified pressure on the fleeing fighters, though full damage assessments are ongoing.

Despite the intensity of the clash, only four soldiers sustained minor injuries and have since been stabilised.

News Politics March 18, 2026 2027: Labour Party fixes date for presidential primaries

 

The Labour Party (LP) has scheduled May 23, 2026, for its presidential primaries, according to its approved timetable ahead of the 2027 general elections.

This was disclosed in a communiqué issued after a National Executive Council (NEC) meeting held in Abuja on Tuesday, with officials of the Independent National Electoral Commission (INEC) in attendance.

The party also announced that it will submit its membership register to INEC on April 15, 2026. Primaries for governorship, Senate, House of Representatives, and State Houses of Assembly are set for May 15, 2026.

NEC ratified the actions of the party’s national leadership under Senators Nenadi Usman and Darlington Nwochocha, including preparations for ward, local government, and state congresses scheduled for March 26, 28, and 31, 2026, respectively. The party’s National Convention is slated for April 11, 2026.

The council also reviewed recent internal developments, including the reported invasion of the party’s national secretariat by suspected hoodlums allegedly backed by “rogue elements.”

Following recommendations from its Peace, Reconciliation and Disciplinary Committee, NEC approved the suspension of several members over alleged indiscipline, anti-party activities, and involvement in the disruption at the secretariat.

Among those suspended are Eneyi G. Zidougha, Hilda Doukubo, Lincolin Charles, Muhammed Sabitu Aliyu, Ogar Osim, Vincent Okwuokei, Casmir Agbo Uchenna, Simon Zubairu Bamga, Abduljamid Sa’ad Suleiman, Emmanuel Agida, Auwala Ahmed, Ularama Jubrila, Grace Zafara Posat, Suleiman Abdurahman Abdul, Ajibade Adekunle Samson, Alexander Emmanuel Ombugu, Elizabeth Ativie, and Godwin Jioke, among others.

Additionally, NEC approved the ongoing expansion of the party’s membership register using a hybrid system that combines digital registration with manual processes in rural communities. The initiative aims to modernise the party’s database, boost participation, and improve transparency and efficiency in line with the Electoral Act 2026.

The council further resolved that vacant positions within party structures will be temporarily filled through interim appointments to ensure continuity, pending the conduct of formal congresses.

NEC also urged members to utilise internal dispute resolution mechanisms to address grievances, promote unity, and reduce internal conflicts.

News Sport March 18, 2026 Senegal to challenge ‘unjust’ AFCON verdict

 

Senegal’s football authorities have vowed to appeal to the Court of Arbitration for Sport after the country was stripped of its Africa Cup of Nations title on Tuesday.

In a statement, the Senegalese Football Federation condemned the ruling as “unjust, unprecedented, and unacceptable,” warning that it damages the reputation of African football. The body said it will move swiftly to file an appeal with CAS in Lausanne to defend the nation’s rights and interests.

The controversy stems from the AFCON final in Rabat on January 18, when several Senegalese players briefly walked off the pitch in protest over a late penalty awarded to hosts Morocco. Although the team later returned and went on to win 1-0 after extra time, CAF ruled in favour of Morocco following an appeal.

CAF declared Senegal to have forfeited the match, awarding Morocco a 3-0 victory in line with competition regulations regarding teams that abandon play without the referee’s approval.

Morocco’s football federation maintained that its appeal was not aimed at disputing the match result but at ensuring the rules were properly applied.

The final was marred by chaotic scenes, including a near pitch invasion by fans and a prolonged stoppage as Senegal’s players protested the penalty decision. Despite the disruption, Senegal had initially secured victory through a late extra-time goal.

Following CAF’s decision, Senegalese players and officials expressed outrage, with the federation insisting it will pursue justice through the appropriate legal channels.