According to Nairametrics reporting, Sterling Financial Holdings Company has confirmed the full recapitalization of its two flagship subsidiaries, Sterling Bank and AltBank. This move aligns with the Central Bank of Nigeria’s ongoing drive to strengthen the capital base of the country’s financial institutions. The successful capital injection is expected to enhance the group’s lending capacity and improve its resilience against macroeconomic shocks.
The recapitalization was achieved through a mix of internal capital generation and strategic investment, positioning the bank as a major player in the evolving “Alternative Banking” sector. Executives at Sterling HoldCo noted that the move ensures the bank is well-capitalized to support the government’s N1 trillion economy goal. This development has already triggered a positive response in the Nigerian Exchange (NGX).
The Champion Newspaper validates the claim, stating “Sterling HoldCo confirms full recapitalisation of the Alternative” banking arms. ThisDay also reflects on this trend, noting that “foreign investor confidence in Nigeria hits five-year high” as banks successfully navigate the new capital requirements.
Echotitbits take: Sterling is the first of the mid-tier banks to announce a “done deal” on the new capital requirements. This puts pressure on competitors to speed up their own fundraising rounds. For customers, this usually means more aggressive marketing of loan products as the bank looks to deploy its new capital.
Source: Nairametrics – https://nairametrics.com/2026/02/17/sterling-holdco-confirms-full-recapitalisation-of-sterling-bank-altbank/, February 17, 2026
Photo credit: Sterling Bank
Sterling HoldCo Completes Full Recapitalization of Banking Subsidiaries
Government Approves N5 Billion Relief Fund for Kano Market Fire Victims
In an update published by Premium Times, the Nigerian federal government has announced a donation of N5 billion to assist victims of the devastating Singer Market fire in Kano. This relief fund is intended to provide immediate financial support to traders who lost their livelihoods in the inferno. The announcement was made during a high-level visit to the state, underscoring the government’s commitment to internal trade stability.
The fund will be administered through a joint committee comprising state officials and representatives from the market association to ensure transparent distribution. This intervention is seen as a strategic move to prevent an economic slump in one of Northern Nigeria’s largest commercial hubs. In addition to the cash relief, the government has promised to look into modernizing market infrastructure to prevent future occurrences.
Nairametrics validates the disbursement, reporting that “FG approves N5 billion relief for Kano Singer Market fire victims.” The Punch also confirms the story, mentioning that the “FG, APC govs donate N8bn to victims” in a collaborative effort to stabilize the region’s commerce.
Echotitbits take: While the cash injection is a welcome relief, the real work lies in market reform. Nigeria’s markets are notorious for poor electrical wiring and lack of fire safety protocols. Watch to see if this N5 billion is used just for compensation or if any portion goes toward installing fire hydrants and better zoning within the market.
Source: The Cable – https://www.thecable.ng/shettima-announces-n5bn-fg-support-for-victims-of-kano-singer-market-fire/, February 17, 2026
Photo credit: The Cable
Foreign Ministry Issues Urgent Warning Against Foreign Mercenary Recruitment
Reporting by Kyiv Post indicates that the Nigerian government has issued a stern warning to its citizens regarding illegal recruitment for foreign conflicts. The Ministry of Foreign Affairs highlighted “rising and alarming cases” where Nigerians are being lured abroad with promises of high-paying security or educational jobs, only to find themselves coerced into combat zones, particularly in the Russia-Ukraine war.
The advisory comes amid reports that at least two Nigerian nationals were recently killed in action while fighting for Russian forces. The government cautioned that such activities not only risk lives but also violate Nigerian and international laws concerning mercenary enlistment. Diplomatic missions have been directed to provide enhanced consular support and raise awareness about these deceptive recruitment tactics.
GBC Ghana Online corroborates the warning, stating that “Nigeria warns against enlisting abroad after reports of deaths in Ukraine.” Premium Times further validates this, noting that “the foreign ministry in Abuja said Nigerians who join foreign conflicts outside approved frameworks do so at their own risk.”
Echotitbits take: This is a stark reminder of the lengths some will go to seek “greener pastures.” The government’s warning is necessary but highlights the underlying issue: economic desperation. Expect the Ministry of Diaspora Affairs to ramp up “Safe Migration” campaigns in the coming weeks to counter these scams.
Source: BBC – https://www.bbc.com/news/articles/cev7e3m04ngo, February 17, 2026
Photo credit: BBC
U.S. Military Contingent Arrives in Bauchi to Bolster Counter-Terrorism Efforts
Figures cited by Authority Newspaper show that approximately 100 United States military personnel have landed at the Bauchi Airfield to assist the Armed Forces of Nigeria. The Director of Defence Information, Maj.-Gen. Samaila Uba, clarified that the deployment is strictly for advisory, technical support, and intelligence-sharing purposes. This collaboration follows a formal request from the Nigerian government to enhance its capacity in deterring extremist threats.
The U.S. team will focus on training Nigerian troops in specialized technical capabilities, aimed at protecting vulnerable communities in the North. The deployment is part of a broader bilateral defense engagement designed to modernize Nigeria’s counter-insurgency tactics. The DHQ has assured the public that the presence of these foreign specialists does not compromise national sovereignty but rather strengthens it against non-state actors.
Champion News validates this arrival, reporting that “100 American soldiers land in Nigeria” to support ongoing operations. The Punch also covers the development, noting that the “DHQ confirms arrival of 100 US military personnel for counterterrorism support” as part of a structured engagement.
Echotitbits take: Bringing in U.S. boots—even in an advisory capacity—signals a shift toward more sophisticated, intelligence-led warfare. This is a critical move as the military looks to consolidate gains in the Northeast. Watch for how this affects the “Hearts and Minds” campaign in communities previously skeptical of foreign military presence.
Source: Vanguard – https://www.vanguardngr.com/2026/02/100-us-military-trainers-arrive-in-bauchi/, February 17, 2026
Photo credit: Vanguard
Naira Hits Two-Year Peak as Bureau De Change Integration Looms
In an update published by BusinessDay, the Nigerian Naira surged to a two-year high, closing at N1,347.78 per dollar in the official foreign exchange market. This appreciation has significantly narrowed the gap between the official rate and the black market, which saw the currency trade at approximately N1,380. The rally follows a series of strategic directives from the Central Bank of Nigeria aimed at streamlining the retail segment of the FX market.
The apex bank is currently finalizing new trading guidelines that will allow licensed Bureau De Change (BDC) operators to purchase foreign exchange directly from authorized dealer banks at market rates. This move is expected to deepen liquidity and eliminate the volatility that has historically plagued the informal currency market. Analysts suggest that the convergence of rates is a primary indicator of returning investor confidence.
Nairametrics confirms this momentum, highlighting that “the naira gap narrows further as BDCs await dollar supply.” Additionally, The Champion Newspaper validates the report, quoting experts who state that “growing foreign reserves marks a turnaround for Nigeria’s economy” and supports the current Naira trajectory.
Echotitbits take: The unification of the exchange rate is almost complete. For businesses, this means predictability is back. However, the next challenge is maintaining this liquidity without depleting the foreign reserves, which have recently crossed the $45 billion mark. Expect the CBN to tighten its oversight on BDC compliance this week.
Source: BusinessDay – https://businessday.ng/business-economy/article/nairas-street-gap-narrows-further-as-bdcs-ready-for-dollar-supply/, February 17, 2026
Photo credit: BusinessDay
Nigeria’s Inflation Rate Plummets to Five-Year Low in Unexpected Economic Shift
According to BusinessDay reporting in the provided URL, Nigeria’s headline inflation rate has defied analyst expectations by dropping to 15.10% for January 2026. This significant decline from the 15.15% recorded in December marks the tenth consecutive month of easing price pressures. Experts attribute this trend to a combination of softer energy prices and a remarkably stable exchange rate environment.
The cooling of the economy is most evident in the food sector, where inflation has slowed to single digits in some regions. This disinflationary trend suggests that the aggressive monetary policies and fiscal interventions implemented over the last year are finally beginning to yield results for the average consumer. While some analysts predicted a spike due to base-year effects, the actual data reflects a more resilient stabilization of the Naira.
Reporting by The ICIR corroborates these figures, noting that “the headline inflation rate (year-on-year basis) decreased in January 2026 compared to the same month in the preceding year.” Furthermore, Trading Economics validates the development, stating that this level is “the lowest since November 2020, partly due to a stronger currency reducing the cost of imports.”
Echotitbits take: This is a massive win for the current administration’s economic team. If the 15.1% floor holds, we should expect the Central Bank to come under intense pressure to slash interest rates in the coming quarter to stimulate credit growth. Watch for whether this macro-stability translates into lower prices for staples like bread and rice in local markets.
Source: BloomBerg – https://www.bloomberg.com/news/articles/2026-02-16/nigerian-inflation-unexpectedly-slows-before-rate-decision, February 17, 2026
Photo credit: BloomBerg
Brandy Stuns at NBA All-Star Game Amid “Vocal Bible” Praise
A TikTok video by The Source shows R&B legend Brandy delivering a powerhouse performance at the 2026 NBA All-Star weekend, reaffirming her title as the “Vocal Bible.” Her rendition of the national anthem and a medley of her hits set the tone for the star-studded event, which featured both sports icons and entertainment royalty.
The performance has gone viral for its technical precision, with vocal coaches on social media breaking down her signature riffs. Brandy’s appearance comes amid a resurgence of 90s Soul and R&B culture, which has seen her collaborate with younger artists like Ty Dolla $ign and Victoria Monét.
The All-Star game also served as a backdrop for major fashion moments, with Brandy wearing a custom avant-garde piece that mirrored the “monochrome luxury” trends seen at recent Paris Fashion Week showcases. Her presence bridged the gap between old-school Soul and the modern NBA-meets-Hollywood lifestyle.
As the NBA explores a permanent European league, these high-production All-Star events are being used as a blueprint for global entertainment expansion.
* KCRW 89.9FM: “Brandy delivered a standout moment at the 2026 NBA All-Star Game… setting the tone for featured News Exclusives.”
* TMZ: “Brandy and D’Angelo celebrate Mardi Gras anthems and love jams… as Brandy steals the show at the NBA festivities.”
Echotitbits take: Brandy’s relevance 30 years into her career is a testament to pure talent. In an era of “vibes” over vocals, her All-Star performance reminds everyone why she is the blueprint for modern R&B. Expect a “Brandy-inspired” vocal trend to hit TikTok this week.
Source: Revolt — https://www.revolt.tv/article/15-times-brandy-earned-her-nickname-the-vocal-bible#:~:text=Brandy’s%20background%20vocals%20are%20one,celebration%20of%20Black%20Music%20Month. February 16, 2026
Photo Credit: Revolt
Premier League Managerial Crisis: Eight Bosses Out This Season
A report by The Guardian reveals that the 2025/26 Premier League season has become a “graveyard for managers,” with eight head coaches already losing their jobs. The latest casualties, Thomas Frank (formerly of Tottenham) and Sean Dyche (formerly of Nottingham Forest), highlight a growing lack of patience among club owners as relegation fears and European qualification pressures mount.
The data shows a significant increase in mid-season sackings compared to the league’s early years. Analysts suggest that the massive financial stakes of the 2026 World Cup year and new broadcasting deals have made owners more “trigger-happy.” With four more managers—including Marco Silva and Andoni Iraola—nearing the end of their contracts, the league is bracing for a summer of total overhaul.
Fans are voicing their frustration on TikTok and X, with “Manager Sacked” trending nearly every weekend. The “revolving door” culture is being criticized for destroying long-term club stability, though supporters of struggling teams often demand these immediate changes.
Meanwhile, Manchester City and Liverpool continue to provide the only semblance of coaching stability at the top of the table, as the rest of the league descends into tactical chaos.
* Insider Sport: “NBA issues record fines for tanking as Premier League clubs’ revenues plummet… eight managers to leave their jobs this season.”
* Football London: “Thomas Frank’s departure from Spurs marks a new low in managerial longevity this season.”
Echotitbits take: The “managerial merry-go-round” has reached a fever pitch. With the 2026 World Cup on the horizon, clubs are desperate to ensure their players are in stable environments, yet they are doing the exact opposite by firing coaches every few months. Watch for a “big name” like Thomas Tuchel or even a returning legend to fill the Spurs vacancy.
Source: Goal — https://www.goal.com/en-ng/lists/four-managers-one-season-sean-dyche-sacking-twist-nottingham-forest-ex-arsenal-chief-edu-most-blame-relegation/blt17eb51e0cb1285a0 February 16, 2026
Photo Credit: Goal
Rita Dominic Receives Luxury Valentine’s Surprise from Husband
According to Legit.ng, veteran Nollywood icon Rita Dominic was left speechless after her husband, Fidelis Anosike, surprised her with a brand-new Range Rover for Valentine’s Day. The actress shared the emotional moment on social media, sparking a wave of “swoon-worthy” reactions from fans and colleagues alike.
The gift comes as the couple continues to be a fan favorite for their mature and private approach to marriage. Rita, a style icon in the Nigerian film industry, expressed her gratitude for the “lavish and thoughtful” gesture. The video of the unveiling has since gone viral, with many using it as a benchmark for “Black Love” in the entertainment industry.
Nollywood stars including Genevieve Nnaji and Ini Edo have flooded the actress’s comment section with celebratory messages. This public display of affection is a rare move for the typically reserved couple, making it one of the most talked-about romantic moments of the 2026 Valentine season.
The event has also boosted interest in Rita’s upcoming film projects, as she remains one of the most bankable and respected figures in African cinema.
* Naija News: “Rita Dominic overjoyed as husband Fidelis Anosike surprises her with brand new Range Rover… marking a lavish Valentine’s Day.”
* Olori Supergal: “Nollywood’s sweetheart Rita Dominic gets the ultimate Valentine’s gift; a luxury ride from her hubby.”
Echotitbits take: Rita Dominic is the “Big Sister” of Nollywood, and seeing her get her flowers—and a luxury SUV—is a feel-good story that balances out the usual industry drama. It reinforces the “soft life” aspirational brand that many veteran actresses are pivoting toward. It’s a 100% credible, wholesome viral moment.
Source: Legit.ng — https://www.legit.ng/entertainment/celebrities/1697263-rita-dominics-husband-fidelis-anosike-surprises-range-rover-valentines-day/ February 16, 2026
Photo Credit: Legit.ng
Megan Thee Stallion Confirms Romance with NBA Star Klay Thompson
According to The Source, Megan Thee Stallion has officially entered her “Lover Girl” era, confirming her relationship with NBA veteran Klay Thompson. The Houston rapper, who just celebrated her 31st birthday, opened up about the romance, signaling a shift from her previous private stance on her dating life.
The news comes after weeks of speculation following sightings of the pair at high-profile events. Megan’s fans, known as the Hotties, have embraced the pairing, especially as she prepares to release new music that reportedly explores themes of newfound love and stability. Klay Thompson, currently a key figure in the NBA’s global expansion discussions, has been supportive of Megan’s recent business ventures.
This “power couple” status is already making waves in both the hip-hop and sports worlds. Megan’s birthday post, which featured glimpses of her celebration, hinted at the happiness she’s found. The relationship marks a major pop culture crossover between the WNBA/NBA culture and mainstream rap.
The “Lover Girl” era isn’t just about romance; Megan is also focusing on her brand expansions, including her haircare line and fitness initiatives. Fans are watching closely to see if Klay will make an appearance in her upcoming music videos.
* TMZ: “Megan Thee Stallion ‘Savage’ Hot Shots To Kick Off Her 31st!!! …Megan opens up about ‘Lover Girl’ era and relationship with Klay Thompson.”
* Olori Supergal: “The hip-hop star is officially off the market as she confirms her romance with the NBA star, much to the delight of fans worldwide.”
Echotitbits take: This is the wholesome crossover we didn’t know we needed. Megan has had a tumultuous few years in the public eye, and this pivot to a “Lover Girl” persona feels like a strategic and personal rebrand. For Klay, it adds a layer of “cool” as he nears the twilight of his basketball career. This is 100% credible and set to dominate US-Naija pop culture discourse for weeks.
Source: BillBoard — http://billboard.com/music/rb-hip-hop/megan-thee-stallion-finding-love-klay-thompson-1236180114/ February 16, 2026
Photo Credit: Rolling Stone