NIGERIA NEWS
Naira maintains N1,950/£1 rate as British Pound’s outlook looks shaky
The Nigerian naira demonstrated some stability in relation to the British pound, trading at N1,950//£ at the official market. This represents a minor depreciation of the naira thus far this year due to stabilizing Nigerian reforms and economic challenges in the United Kingdom.
Divergent economic recoveries between the two economies and policy responses have caused this rate to fluctuate between a 52-week high of roughly N2,231/£ and a low of N1,846/£.
Fiscal reforms in Nigeria (New tax administration) bolstered the naira’s positive outlook, while £26 billion in UK budget tax increases increase fiscal space but put a burden on British households.
Foreign exchange inflows from Nigerians in diaspora ($20 billion+ a year to Nigeria, up 10% YoY) bolster the naira’s long-term horizon, while the British pound sterling is constrained by UK consumer spending (1% growth).
Africa’s most populous economy’s exposure is reduced due to diversification (services/agriculture at 60 per cent GDP); The United Kingdom’s exports are severely impacted by US tariffs and the eurozone slowdown (0.9 per cent growth).
If Nigerian crude oil falls below $60 per barrel, the local currency could test the N2,000/£ band
width. However, Dangote refinery ramp-up may limit the downside of the naira’s depreciation. The naira’s strength is favored by Nigeria’s 4.2 per cent growth and declining inflation (forecast: N1,850//£–N1,900//£ by end-2026). The British pound’s upside is limited by the UK’s 1.3–1.4 per cent growth and fiscal consolidation, though productivity recovery could stabilize it.
The UK’s economic situation, the Bank of England’s (BoE) monetary policy, geopolitical issues, and global risk perception have a significant impact on the British pound’s value as a critical international currency.
Though Nigeria’s insecurity disruptions on agriculture could undo the naira’s bullish outlook
The United Kingdom’s economic fundamental weighs on the British Pound
The British pound sterling/dollar pair is currently $1.34-mark, broader strength over the previous month (2 per cent surge) and year (5.73 per cent). This performance has been bolstered by a declining US dollar amid Federal Reserve rate cuts, although sticky UK inflation and fiscal tightening present challenges.
The British economic growth is slowing due to high inflation and rising unemployment, but currency traders bet on the anticipated gradual BoE easing (possibly to 3.75 per cent by year’s end) and a better-than-expected Autumn Budget. Forecasts indicate that the GBP will appreciate moderately in 2025, likely settling at $1.35–$1.41 by year’s end.
However, gains may be limited due to risks from disruptions in global trade and changes in US policy.
The Monetary Policy Committee (MPC) of the Bank of England has successfully negotiated a “narrow path” between reducing inflation and promoting growth by progressively lowering rates from 5.25 per cent in the middle of 2024.
Concern over ongoing wage growth and service inflation was reflected in the 5-4 vote to hold at 4 per cent in November, but new data probabilities have increased due to easing core CPI.
According to KPMG, rates will drop to 3.75 per cent in December and stabilize at 3.25 per cent in 2026 as inflation declines. The GBP has been strengthened, despite divergence, by this slower rate of easing in comparison to the Fed, which cut to 3.50–3.75 per cent in December.
U.S dollar index turns slightly red
The US Dollar Index (DXY), which measures the US dollar’s strength against six major currencies, appears vulnerable near its new seven-week low of 98.1.
The US dollar (USD) has been under intense pressure as traders anticipate that the Federal Reserve (Fed) will lower interest rates than what officials collectively predicted at Wednesday’s policy meeting. There is a 58% chance that the Fed will lower borrowing rates at least twice through October 2026, according to the CME FedWatch tool.
Conversely, the Fed’s dot plot revealed that officials believe the Federal Fund Rate will drop to 3.4 per cent by the end of 2026, indicating that there will be one interest rate reduction the following year. Following Wednesday’s 25 basis point (bps) cut, US President Donald Trump has called for additional interest rate reductions.
White House spokesperson Karoline Leavitt told reporters on Thursday, “I know there was a quarter-point reduction this past week, and the President was pleased to see that, but he thinks more should be done.”
A public affairs analyst, Matthias Tsado, has said it was embarrassing to learn of President Bola Tinubu’s shock over the backlog of projects ought to have been funded by his government.
Tsado expressed his concerns in a statement on Friday, when he appeared as a guest in an interview on ‘Sunrise Daily’, a programme on Channels Television monitored by DAILY POST.
The analyst stressed that the expression of shock by the president over his own responsibility is a failure of leadership.
“It’s an embarrassment for us to discuss this issue, if at all. It was just two days ago that the president of the Federal Republic of Nigeria realized that backlogs of projects that are supposed to have been funded by his government, that it has not been done.
“It’s just like they always say, the president expresses shock that such kinds of things are happening in his government. It’s a failure of leadership in the simplest term that I can put it.
“This means that you, as the man at the helm of affairs, you are not aware of what is happening within your environment, and that tells you why we are having so many of these kinds of problems.
“I am rather embarrassed on behalf of the President. It’s not something that you come on air to let the whole world know that you as a president of the country do not know what you are doing, because that is what it means,” he said.
The Economic Community of West African States (ECOWAS) has backed the candidacy of President John Dramani Mahama of Ghana for the Chairmanship of the African Union in 2027.
Naija News understands that ECOWAS arrived at the decision during the 95th ordinary session of the ECOWAS Council of Ministers held in Abuja.
In a statement on Thursday, ECOWAS said the recommendation reflects its commitment to work in a concerted manner to support the candidacies of ECOWAS Member States or their nationals in international organisations, including the African Union, in order to ensure that the interests of ECOWAS continue to be promoted and protected.
Speaking on the endorsement, Sam Okudzeto Ablakwa, Foreign Minister of Ghana, said, “ECOWAS Council of Ministers meeting in Abuja, Nigeria has unanimously endorsed President John Dramani Mahama of Ghana as the sole candidate from ECOWAS for Chairperson of the African Union when the rotating chairmanship gets to West Africa’s turn in 2027.”
“The Authority of Heads of State and Government is expected to adopt this declaration on Sunday,” Ablakwa said.
Acknowledging the support from ECOWAS ministers, Ablakwa said, “I thank colleague Ministers greatly. Ghana is exceedingly grateful to ECOWAS for the confidence and support for our beloved visionary and Pan-African President, H.E. John Dramani Mahama. Ghana shall keep making Africa proud.”
The Council recommended that the Authority of Heads of State and Government adopt a declaration of support for Ghana’s candidacy.
ECOWAS emphasised that Ghana is an important Member State whose leadership would contribute to the bloc’s international representation.
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The former Minister of Labour and Productivity, Chris Ngige, has been remanded in Kuje prison, pending the determination of his bail application.
A Federal Capital Territory (FCT) High Court gave the order on Friday, December 12, following his arraignment by the men of the Economic and Financial Crimes Commission (EFCC).
New Telegraph had earlier reported that Ngige was arraigned on Friday before Maryam Hassan, presiding judge, on an eight-count charge bordering on misuse of office, contract fraud and receiving gratification.
In the charge dated October 31, the commission alleged that the former minister used his position to confer undue advantage by awarding multiple contracts to associates and companies linked to him.
The EFCC alleged that between September 2015 and May 2023, Ngige, while serving as supervising minister of the Nigeria Social Insurance Trust Fund (NSITF), approved seven contracts for consultancy, training and supply to Cezimo Nigeria Limited, valued at N366,470,920.68.
The company’s managing director, Ezebinwa Amarachukwu Charles, is described as an associate of the former minister.
The offence, according to the anti-graft agency, violates section 19 of the Corrupt Practices and Other Related Offences Act, 2000.
The charge sheet also lists other companies that allegedly benefited from contracts approved under Ngige.
Zitacom Nigeria Limited, whose managing director (MD)/chief executive officer (CEO) is Ezebinwa, was said to have received eight contracts for supply, training and consultancy worth N583,682,686.
Jeff & Xris Limited, owned by Nwosu Jideofor Chukwunwike, allegedly secured eight contracts valued at N362,043,163.16.
Olde English Consolidated Limited, led by Uzoma Igbonwa, was listed as receiving four contracts for consultancy, training and construction totalling N668,138,141.
Shale Atlantic Intercontinental Services Limited, also linked to Igbonwa, allegedly received another four contracts worth N161,604,625.
The former Anambra governor was also alleged to have corruptly accepted a N38,650,000 gift through the
Chris Nwabueze Ngige Campaign Organisation from Cezimo Nigeria Limited (Zenith Bank Account Number 1011901119), a contractor with the Nigeria Social Insurance Trust Fund (NSITF).
He was also said to have received another N55,003,000 gift through his organisation called Senator (r) Chris Ngige Scholarship Scheme from Zitacom Nigeria Limited (Zenith Bank Account Number 1017263219), a contractor with the Nigeria Social Insurance Trust Fund (NSITF).
Upon arraignment, Ngige pleaded not guilty to all the counts.
Sylvanus Tahir, prosecution counsel, asked the court to remand the defendant in prison custody and fix a date for trial to commence.
However, Patrick Ikwueto, Ngige’s counsel, told the court that he had filed a bail application for his client. Although he acknowledged that the application was premature, he prayed the court to allow him to move an oral bail application for his client.
Ikwueto said the defendant was granted administrative bail by the EFCC and has abided by the bail conditions. He also said his client has been in custody of the EFCC for three days and is unwell.
He prayed the court to grant his client bail in the interim to allow him access to medical attention.
Opposing the bail condition, Tahir said Ngige is a flight risk. He said the defendant was granted administrative bail in October and allowed to go for medical treatment abroad on the condition that he must return his international passport upon arrival.
The prosecution lawyer said Nigige has failed to submit the passport since his return to Nigeria on November 19.
Responding, Ikwueto said his client had written to the commission upon his return informing them that he was robbed in London and important items, including documents, his international passport and cash, were stolen from him.
He said he was able to return using a travel certificate. But Tahir said he was unaware of such a letter.
In her ruling, Hassan ordered the defendant to be remanded in Kuje correctional facility and adjourned the case to Monday, November 15, to hear the bail application.
She also ordered that the defendant be allowed access to medical practitioners while in custody.
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The Nigerian Civil Aviation Authority (NCAA) stepped in on Thursday after a bird strike on a United Nigeria Airlines (UNA) aircraft forced the cancellation of a flight and left over one hundred passengers stranded at the domestic wing of Nnamdi Azikiwe International Airport, Abuja.
NCAA spokesperson Michael Achimugu said the regulator acted quickly to prevent further escalation and restore order at the terminal.
“To avert further disaster at the domestic wing of the Abuja airport, my team and I needed to rush down to the terminal where I addressed the over one hundred passengers scheduled to fly Abuja–Owerri via United Nigeria Airline,” he said.
The authority confirmed that the aircraft had suffered a bird strike, which made the cancellation unavoidable. However, delays in communication from the airline escalated tensions among passengers.
“Passengers became irate, and some of them, violent. One of them destroyed laptops belonging to the airline, assaulted their staff, and injured a FAAN AVSEC personnel,” Mr Achimugu added.
Passenger Compensation
Mr Achimugu said he addressed passengers to explain why they could not fly and the available remedies. The airline agreed to provide affected passengers a 15 per cent discount on their next flight and reschedule the Abuja–Owerri travel for 10 a.m. the following day.
NCAA also instructed that an email confirming the arrangements be sent to passengers by 4 p.m.
“While taking questions from the initially agitated but now calm passengers, we did not deny the fault of the airline, even though the disruption was due to force majeure,” he said.
The NCAA spokesperson noted that the Authority has regularly advised airlines to improve communication with passengers, particularly during the disruption-prone month of December, and confirmed it would monitor United Nigeria Airlines’ compliance until all affected travellers reach their destinations safely.
Airline’s Response
In a statement from its Corporate Communications Unit on Thursday, United Nigeria Airlines confirmed the cancellations, attributing them to the bird strike on one of its operating aircraft. The airline said the affected aircraft had been grounded for mandatory technical checks in line with safety protocols.
“As a result, and in strict adherence to our safety standards, the affected aircraft has been withdrawn from service for comprehensive inspection before returning it to service,” the airline said.
The carrier appealed to passengers for patience and assured that its team was working to minimise disruptions and provide support, including rebooking assistance.
Aviation experts describe bird strikes, collisions between aircraft and birds during takeoff or landing, as a common operational hazard that can damage engines or critical components, leading to delays, cancellations, or inspections.
Globally, such strikes have occasionally contributed to major emergencies, including US Airways Flight 1549, which ditched in the Hudson River in 2009 after colliding with birds shortly after takeoff, a rare case where all 155 people on board survived.
In Nigeria, bird strikes are not isolated to the Abuja incident. Domestic carriers have reported multiple disruptions in recent years.
READ ALSO: NNPC speaks on explosion at Escravos–Lagos pipeline
In early 2025, Air Peace grounded three of its aircraft within 24 hours due to bird strikes, forcing inspections and rescheduling while accommodating affected passengers. Between 2021 and 2022, aviation stakeholders reported at least 127 bird strike incidents across Nigerian airports, with Lagos among the major hotspots.
NCAA said its intervention was aimed at restoring order, ensuring passenger safety, and holding the airline accountable.
“Had the airline personnel addressed the customers in a transparent, timely manner, the chaos would have been averted. Having successfully handled this situation and restoring order at the terminal, we will monitor United Nigeria Airlines’ compliance with the regulations until their customers have safely been brought to destination,” Mr Achimugu said.
NIGERIA NEWS
Fulani Ex-Muslim Man Shares Deep Story Behind His Conversion to Christianity: “I Had to Run Away”
- A Fulani man who was once a Muslim has opened up about how he converted to Christianity after reading a verse in the Quran
- He shared what he found out after comparing the Bible to the Quran, opening up about how he built his faith in Jesus Christ
- His video caught people’s attention as he narrated his family’s reaction to his conversion, sparking reactions from netizens
A Fulani man, Musa Bello Musa, who was born and bred in an Islamic home, shared why he converted to Islam.
He stated that his father was the chief of a Fulani community in Kaduna State, which was predominantly Muslim.
Ex-Muslim man shares why he converted to Christianity. Photo: Musa BM Azzaman
Source: Facebook
Ex-Muslim man shares how he converted to Christianity
Identified on Facebook as Musa BM Azzaman, the ex-muslim shared what led to his conversion in a video he shared on his page.
The video was captioned:
“The truth will always remain the truth. The journey wasn’t easy for me, but God have always been faithful. Be blessed as you listen.”
Read also
“I have a feeling:” Man explains why Joshua Selman and Sandra Areh aren’t married yet
In the video, he said:
“My own conversion is conversion by research, a comparison between the Bible and the Quran.”
He also quoted the verse he had read in the Quran that had made him doubt his Islamic faith, as he compared several passages from both holy books.
Sharing how his father reacted to his conversion, Musa said:
“I had to run away for my dear life.”
Watch his full video below:
Reactions trail man’s conversion experience
James Noble said:
“Exactly then we are going to Evangelist then their thoughts us this very place in Qur’an where Anabi Muhammed said he doesn’t know where he’s going either he can save anyone that they should be in prayer for him. May God Open people Eyes to see the Salvation.”
Ogheneochuko Jesuschild said:
“Preach it brother! God bless you and may HE continue to use you to do exploits for HIS Kingdom!”
Adams Dabo said:
Read also
Mr P returns to Jos after 20 years: Video shows how residents ignored him on the streets
“May God open the eyes of everyone to acknowledge salvation And The Lord make us to be found faithful. Amen!”
Selistine Pinalo said:
“Wow Wow! What a mighty God we serve! He is full of Mercy and Love. To God be the Glory for your wonderful testimony. May God Almighty Bless you and Keep you in Jesus name.”
Sotola Olusegun said:
“Creator will continue to protect you from your enemies in Jesus mighty Name Amen.”
Rabiu Iliyasu said:
“Musa BM Azzaman You totally didn’t understand the verse 46:9. Go and read again and again.”
Asibi K Lucky said:
“May almighty God continue guide an protect you protect you from any harm and to fulfill your destiny in the land of the living.”
An ex-Muslim man opens up about his conversion to Christianity. Photo: Musa BM Azzaman
Source: Facebook
In related stories, a lady shared why she stopped attending church, while another man shared how a pastor stopped his parents from sending him abroad.
Lady abandons Christianity to become water priestess
Meanwhile, Legit.ng reported that an apostle’s daughter who quit Christianity to become a water process shared the reason behind her drastic decision.
Read also
Apostle Selman opens up on marital status amid rumoured relationship with ‘Selwoman’
In a video, she opened up about her parents’ reaction to her decision to embrace her ancestors’ way of worship.
Her video caught people’s attention, as many shared their thoughts and similar experiences about her mode of spirituality.
Source: Legit.ng
The All Progressives Congress, APC, in Rivers State has formally registered Governor Siminalayi Fubara as a member of the party.
In a photograph shared by the media aide to the state APC chairman, Tony Okocha, Fubara is seen placing his thumbprint in a book believed to be the party’s register.
The registration took place at the Government House in Port Harcourt on Friday.
DAILY POST reports that Governor Fubara had earlier announced his intention to join the APC on Tuesday.
He explained that his defection from the Peoples Democratic Party, PDP, to the APC is in the interest of the people of Rivers State and also a gesture of appreciation to President Bola Tinubu, whom he credited as the reason he remains the Governor of Rivers State.
The Tony Okocha-led All Progressives Congress (APC) in Port Harcourt, Rivers State, has officially issued a membership card to the state governor, Siminalayi Fubara.
Fubara went through the documentation process on Friday to become a member of the party, few days after he announced his defection to the APC.
Okocha, who led the executive committee of the party in the state presented the card to Fubara during a courtesy visit to the governor at the Government House, Port Harcourt.
The Minister of Aviation and Aerospace Development, Festus Keyamo, who was in the state for project inauguration and flag-off witnessed the registration process.
Details shortly…
The Youth Wing of the Christian Association of Nigeria (YOWICAN) has celebrated Governor Hope Uzodimma, of Imo state on his 67th birthday.
YOWICAN described Uzodimma as one of the most transformational leaders in the south-east and a “pillar of the Igbo nation.”
Belusochukwu Enwere, president of YOWICAN, said in a message on Friday that Uzodimma had redefined governance in Imo state.
He said the governor had earned recognition as one of the leading champions of Igbo renaissance.
Enwere said Uzodimma’s commitment to development, security and unity aligned with the renewed hope agenda of President Bola Tinubu.
His words: “Governor Hope Uzodimma is not just the governor of Imo state; he is a stabilising force and a dependable pillar of the Igbo nation.”
“At 67, he stands tall as a transformational leader who has brought renewed hope, infrastructure rebirth and restored peace to Imo state.”
YOWICAN said Uzodimma had shown courage and determination in repositioning Imo state for sustainable development.
It cited infrastructural projects and fiscal reforms aimed at reviving the state’s economy.
Enwere said the state had witnessed a turnaround in road construction, digital public services, investment policies and empowerment initiatives.
He said, “Today, Imo state is no longer the state of despair and infrastructural decay it once was. Governor Uzodimma has transformed Imo into a construction hub.”
He said the governor had strengthened security through coordination with security agencies and community leaders.
He said the state had regained calm after periods of attacks by criminal groups, adding that Uzodimma’s influence extended beyond Imo state.
The group said the governor had championed Igbo interests, national unity and regional integration, describing him as a bridge-builder committed to ensuring that the Igbo people take their rightful place in national politics.
YOWICAN congratulated the governor and urged him to sustain his reform-driven leadership.
“On this auspicious 67th birthday, we celebrate a leader with uncommon determination, a man who embodies renewed hope for the Igbo nation and Nigeria at large,” the statement concluded.
Nigeria’s Minister of Interior, Olubunmi Tunji-Ojo, will lead a high-powered delegation of Nigerian leaders to the United Kingdom for Triangle International Magazine’s 10th anniversary celebration and the Fourth FACE of Africa Leadership Awards.
The prestigious event, hosted in partnership with King’s College London, promises to be a star-studded showcase of African excellence.
The Nigerian delegation includes governors from Imo, Anambra, and Gombe states, as well as Ministers,Together, they will join distinguished African personalities and leaders whose work continues to shape the continent’s future.
Set for Thursday, April 2, 2026, at the historic Great Hall of King’s College London, the celebration will also feature a special lecture themed: “Harnessing the Role of Nigerians in the Diaspora for National Development – Collaboration, Investment, Knowledge Transfer, and Civic Engagement.”
The lecture aims to spotlight the critical contributions of Nigerians abroad in driving progress back home.
Speaking on the upcoming celebration, Triangle International Magazine’s publisher, Otunba Femi Salako, said: “Triangle has spent a decade highlighting African excellence. Having Nigeria’s top leaders join us in London underlines the significance of this milestone. This year’s event will be our most remarkable yet, and we are thrilled to share the full programme soon.”
The 10th anniversary and award night promise an unforgettable evening of recognition, culture, and high-profile glamour, bringing together Africa’s brightest minds on one global stage.
- The Federal Government of Nigeria, through the Federal Inland Revenue Service (FIRS), has signed a significant MoU with France’s Directorate Générale des Finances Publiques (DGFP) to enhance tax administration and compliance monitoring.
- The agreement, finalized on December 10, 2025, focuses on digital transformation, technology transfer, modern compliance systems, and extensive capacity building for Nigerian tax officials.
The Federal Government of Nigeria, through the Federal Inland Revenue Service (FIRS), has signed a landmark Memorandum of Understanding (MoU) with France’s Directorate Générale des Finances Publiques (DGFP) to collaborate on tax collection and compliance monitoring.
The partnership, signed on December 10, 2025, is focused on modernizing Nigeria’s tax administration through digital transformation, capacity development, and advanced technological assistance.
The agreement is designed to strengthen bilateral cooperation and improve Nigeria’s tax system using proven practices from France. The key areas of collaboration include:
Technology Transfer: Utilizing France’s advanced technological capabilities to build resilient tax administration systems.
Compliance Management: Developing new systems for compliance monitoring, taxpayer services, and data-driven enforcement.
Capacity Building: Committing to extensive training programs and professional development for Nigerian tax officials.
International Tax Issues: Deepening cooperation on global issues such as information exchange, transfer pricing, and Base Erosion and Profit Shifting (BEPS).
FIRS Chairman, Dr. Zacch Adedeji, emphasized that the cooperation will help Nigeria develop innovative solutions for cross-border taxation and Artificial Intelligence deployment as the country transitions to the new Nigeria Revenue Service (NRS) in January 2026.
“Nigeria And France Have Signed An Agreement To Collaborate On Tax Collection And Compliance Monitoring Using France’s Tax System And Technology. France Will Now Be Assisting Nigeria In Its Tax Collection.”- Oralvault pic.twitter.com/ZiSvQj6ktN
— Somto Okonkwo (@General_Somto) December 12, 2025