Echotitbits – Nigeria News

Category: News

  • Senate Under Fire as Stakeholders Reject Changes to Electoral Act

    Senate Under Fire as Stakeholders Reject Changes to Electoral Act

    In an update published by Premium Times, civil society organizations and political analysts have voiced a strong rejection of the Senate’s recent vote on the Electoral Act amendment bill. The upper chamber’s decision to decline provisions for the mandatory real-time electronic transmission of results has sparked fears that the 2027 general elections could be compromised, as critics argue that digital transparency is essential for credible outcomes.

    The legislative move has been described as a setback for Nigeria’s democratic evolution, with experts warning that it risks erasing the progress made during the 2023 polls. Opponents of the Senate’s stance argue that without a legal mandate for electronic results, the window for manual manipulation during collation remains dangerously wide.

    This growing outcry was corroborated by Daily Post, where analyst Mahdi Shehu stated, “The Senators have abandoned the very reasons Nigerians elected them,” emphasizing that the move is an “assault” on the electorate. Similarly, The Nation reported that legal experts are already preparing for a constitutional challenge, with one lawyer noting that “the law must reflect the technological realities of the 21st century to ensure every vote counts.”

    Echotitbits take: This is a high-stakes political tug-of-war. By stripping away mandatory electronic transmission, the National Assembly is essentially opting for a “status quo” that favors established political structures over grassroots transparency. Expect this to become a primary rallying cry for opposition parties and the “Obidient” movement as the 2027 election cycle begins to heat up.

    Source: Premium Times – https://www.premiumtimesng.com/news/headlines/854928-csos-reject-senate-vote-on-electoral-bill-warn-of-threat-to-credible-elections.html?tztc=1, February 7, 2026

    Photo credit: Premium Times

  • Nigeria’s External Reserves Hit $46.91bn as Naira Closes at N1,366.19

    Nigeria’s External Reserves Hit $46.91bn as Naira Closes at N1,366.19

    According to Daily Post reporting, the Nigerian Naira concluded the week at N1,366.19 against the US Dollar at the official foreign exchange market, marking a slight daily depreciation from its previous standing. Despite this minor dip, the nation’s economic outlook remains bolstered by a significant surge in external reserves, which have now climbed to $46.91 billion as of early February 2026.

    The local currency’s performance showed resilience on a week-on-week basis, gaining approximately N20.36 at the official window. Meanwhile, the parallel market—often referred to as the black market—saw the Naira ending the week with a notable N10 gain, settling at a rate of N1,450 per dollar. This convergence of rates is seen as a positive sign of stabilizing liquidity within the financial system.

    Market analysts note that the steady accumulation of foreign reserves provides the Central Bank of Nigeria (CBN) with a stronger buffer to manage exchange rate volatility. This development was further validated by The Punch, which noted that “the robust reserve level is a testament to improved crude oil receipts and tighter fiscal controls,” while Vanguard added that “the stability in the FX market is increasingly attracting the interest of offshore portfolio investors.”

    Echotitbits take: The climb to $46.91bn in reserves is a major milestone for the Tinubu administration’s economic team. It suggests that the aggressive monetary tightening and FX reforms are finally yielding a “liquidity cushion.” Watch for whether the CBN will use this surplus to intervene more frequently in the retail end of the market to further close the gap between official and parallel rates.

    Source: Daily Post – https://dailypost.ng/2026/02/07/naira-closes-week-at-n1366-19-per-dollar-as-nigerias-external-reserves-hit-46-91bn/, February 7, 2026

    Photo credit: Daily Post

  • Pep Guardiola Defies Critics Over Comments on Global Conflicts

    Pep Guardiola Defies Critics Over Comments on Global Conflicts

    In a post shared by @GuardianSport, Manchester City manager Pep Guardiola has doubled down on his right to speak out on international affairs, specifically the conflicts in Gaza, Ukraine, and Sudan. Following criticism from the Jewish Representative Council of Greater Manchester, which urged him to “focus on football,” Guardiola insisted that he is a human being first and a manager second.

    During a heated press conference ahead of City’s crucial weekend fixture, Guardiola questioned why his profession should prevent him from expressing empathy for victims of war. He clarified that his condemnations are universal, targeting the killing of innocent people regardless of the country involved.

    The backlash began earlier this week after Guardiola used his platform to highlight the “genocide in Palestine” and the humanitarian crises in other regions. While some fans have praised his moral courage, others—including some local community groups—believe his comments are divisive and outside his professional remit.

    The controversy comes at a high-pressure moment for Manchester City, as they continue to chase Arsenal in the Premier League title race. Guardiola’s refusal to be “silenced” adds a political layer to the club’s narrative as the season enters its most critical phase.

    * The Guardian quoted the manager’s defiance: “I don’t agree but I respect all opinions… why should I not express what I feel? Just because I’m a manager?”

    * Sky Sports reported on the club’s stance: “While the club has not officially distanced itself from the comments, the focus remains on the upcoming pitch battles as the title race intensifies.”

    Echotitbits take: Guardiola is joining a growing list of sports figures who refuse to stick to the “shut up and dribble” script. In the modern era, the “manager as a moral leader” role is becoming more common, but it carries immense risk for a club’s global brand and local community relations. Watch for whether the Premier League or the club hierarchy attempts to implement tighter media guidelines following this public pushback.

    Source: The Guardian — https://www.theguardian.com/football/2026/feb/06/premier-league-news-guardiola-manchester-city-newcastle-united February 6, 2026

    Photo Credit: The Guardian

  • Nigerian CEOs Express Record Optimism for 2026 Economic GrowthI

    Nigerian CEOs Express Record Optimism for 2026 Economic GrowthI

    In a report published by ThisDay, a survey conducted by PwC Nigeria reveals that 91% of Nigerian Chief Executive Officers expect the country’s economy to improve significantly in 2026. This surge in confidence, up from 64% in the previous year, is attributed to the stabilizing impact of disciplined monetary reforms and the successful transfer of several oil and gas assets to indigenous operators.

    The optimistic outlook was echoed in reports by The Sun and Vanguard, which analyzed the impact of these sentiments on the capital market. The Sun reported that “business leaders are now pivoting from survival mode to growth strategies,” while Vanguard quoted a leading economist saying, “The 2026 horizon looks bright if the current fiscal discipline is maintained.”

    Despite the optimism, the survey also flagged rising cyber risks as a major threat to corporate stability. CEOs noted that as operations become more digitized, the exposure to high-level data breaches has increased, necessitating greater investment in national cybersecurity infrastructure.

    Echotitbits take: High CEO confidence is a leading indicator of increased capital expenditure and job creation. However, the government must address the “cyber risk” warning mentioned by these leaders to ensure that the digital economy doesn’t become a new bottleneck for growth.

    Source: ThisDay — https://www.thisdaylive.com/2026/02/02/pwc-nigeria-91-ceos-expect-nigeria-economic-growth-in-2026/, February 6, 2026

    Photo credit: ThisDay

  • Senate Faces Public Backlash Over Controversial Electoral Act Amendments

    Senate Faces Public Backlash Over Controversial Electoral Act Amendments

    Reporting by Leadership indicates a growing wave of public anger directed at the Nigerian Senate following the passage of the Electoral Act Amendment Bill 2026. Senator Victor Umeh, representing Anambra Central, admitted during a television appearance that lawmakers have been subjected to insults because the version of the bill passed—specifically regarding the electronic transmission of results—did not reflect the expectations of the citizenry.

    The legislative tension was further highlighted by Daily Trust and Sahara Reporters, both of whom documented the disconnect between the Senate’s “transmission” versus “transfer” terminology. Daily Trust noted that “voters feel betrayed by the lack of real-time upload requirements,” while Sahara Reporters quoted Senator Umeh saying, “We have to take the insult because we have disappointed the people with the news they got.”

    The controversy centers on whether the Independent National Electoral Commission (INEC) is mandated or merely permitted to use electronic means to transmit results. Civil society organizations have already begun mobilizing for a protest, demanding a further review of the bill before it receives presidential assent.

    Echotitbits take: The “transmission vs. transfer” debate is more than semantics; it is the frontline of Nigeria’s democratic transparency. Expect legal challenges to follow if the President signs the bill without clarifying these controversial clauses.

    Source: Vanguard — https://www.vanguardngr.com/2026/02/electoral-act-senate-passes-bill-rejects-mandatory-electronic-transmission-of-results/, February 6, 2026

    Photo credit: Vanguard

  • Federal Government Deploys Army Battalion to Kwara Following Deadly Attack

    Federal Government Deploys Army Battalion to Kwara Following Deadly Attack

    According to The Punch reporting, President Bola Tinubu has ordered the immediate deployment of an army battalion to Kaiama Local Government Area in Kwara State following a brutal attack that left over 160 residents dead. The new military command will spearhead “Operation Savannah Shield,” a targeted offensive designed to track down the gunmen who targeted innocent villagers in what the President described as a “cowardly and beastly” campaign of terror.

    The security crisis was also covered by Daily Post and Tribune Online, which provided updates on the humanitarian response. Daily Post confirmed that “relief materials are already being moved to the affected communities,” while Tribune Online quoted Governor AbdulRahman AbdulRazaq saying, “We will not rest until the perpetrators of this massacre are brought to justice.”

    The U.S. government has reportedly condemned the killings and expressed support for the Nigerian government’s security deployment. Security experts remain concerned about the vulnerability of border communities in Kwara and have called for permanent military outposts in the region to prevent future incursions by bandits.

    Echotitbits take: The rapid deployment of “Operation Savannah Shield” shows a proactive stance, but the 10-hour delay reported by locals before troops arrived indicates a massive gap in early-warning systems. The focus must shift from reactive deployment to proactive intelligence gathering.

    Source: Channels TV – https://www.channelstv.com/2026/02/05/kwara-attack-tinubu-orders-deployment-of-troops-condemns-incident/, February 6, 2026

    Photo credit: Channels TV

  • Trump Recognizes Nigeria’s First Lady at National Prayer Breakfast in Washington

    Trump Recognizes Nigeria’s First Lady at National Prayer Breakfast in Washington

    In an update published by Channels TV, United States President Donald Trump publicly acknowledged Nigeria’s First Lady, Senator Oluremi Tinubu, during the National Prayer Breakfast held in Washington, D.C. Trump paused his address to highlight her dual role as a high-ranking political figure and a Christian pastor, describing her as a woman of profound influence and spirituality within the African continent.

    The event was further detailed by The Nation and ThisDay, which both noted the significance of the diplomatic gesture. The Nation reported that “the recognition underscores the growing interpersonal diplomacy between the Trump administration and the Tinubu presidency,” while ThisDay included a short quote from a diplomat at the event: “It was a rare moment of personal recognition that signals strong bilateral rapport.”

    The First Lady’s presence at the annual gathering, which brings together world leaders and clergy, is seen as part of Nigeria’s ongoing efforts to strengthen ties with the U.S. government. Analysts believe such high-level interactions could pave the way for deeper cooperation on faith-based initiatives and social welfare programs between the two nations.

    Echotitbits take: This public shout-out from Trump is more than just a courtesy; it signals a “soft power” win for Nigeria. It positions the First Lady as a key bridge between the two administrations, particularly in areas of religious and social cooperation.

    Source: Vanguard – https://www.vanguardngr.com/2026/02/us-president-acknowledges-nigerias-first-lady-as-respected-woman/, February 6, 2026

    Photo credit: Vanguard

  • Naira Maintains Stability Against Dollar Amid Low Speculative Demand

    Naira Maintains Stability Against Dollar Amid Low Speculative Demand

    Figures cited by Vanguard show that the Nigerian Naira opened at ₦1,367.10 per dollar in the official window this Friday, maintaining a steady course below the ₦1,400 threshold. Financial analysts attribute this relative calm to the Central Bank of Nigeria’s (CBN) consistent market interventions and a transparent electronic trading framework that has significantly dampened the activities of currency speculators.

    The currency’s performance was also tracked by BusinessDay and The Cable, which both reported a narrowing gap between the official and parallel markets. BusinessDay observed that “the absence of aggressive hoarding has stabilized retail demand,” while The Cable quoted a BDC operator in Abuja saying, “The market is no longer as volatile as it was last year; supply is more predictable now.”

    Market experts suggest that the current stability is a result of a 15.15% moderating inflation rate and the CBN’s decision to maintain the Monetary Policy Rate at 27.00%. This high-interest-rate environment has continued to attract foreign portfolio investment, providing the necessary liquidity to support the local currency.

    Echotitbits take: The Naira’s stability is a win for the CBN’s orthodox monetary policies. However, for this to be sustainable in the long term, Nigeria needs to significantly diversify its export base to move beyond total reliance on oil-driven forex inflows.

    Source: Legit.ng – https://www.legit.ng/business-economy/economy/1695016-dollar-stumbles-year-naira-opens-month-a-surprise-surge/, February 6, 2026

    Photo credit: Legit.ng

  • Anti-Graft Commission Initiates Investigation into Ex-Minister’s Alleged Certificate Forgery

    Anti-Graft Commission Initiates Investigation into Ex-Minister’s Alleged Certificate Forgery

    According to Premium Times reporting, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has officially launched a probe into allegations that Uche Nnaji, the former Minister of Innovation, Science and Technology, submitted falsified academic and NYSC records. The investigation follows a detailed exposé indicating that the former cabinet member allegedly presented forged documents to both the Senate and President Bola Tinubu during his 2023 clearance process, a scandal that ultimately led to his resignation late last year.

    The development has been mirrored in reports by AllAfrica and The Gazette Nigeria, which confirm that investigators are currently verifying the authenticity of the degree certificates with the respective institutions. AllAfrica noted that “the former minister could face criminal prosecution if the ICPC investigation confirms the forgery,” while The Gazette quoted a source stating, “This is a matter of institutional integrity that cannot be swept under the carpet.”

    Legal experts suggest that the outcome of this probe could set a significant precedent for political appointees in the current administration. The ICPC is reportedly under pressure to ensure a transparent process, given the high-profile nature of the suspect and the gravity of the accusations involving the nation’s highest legislative body.

    Echotitbits take: This investigation serves as a litmus test for Nigeria’s anti-corruption agencies. If handled decisively, it could deter future political aspirants from misrepresenting their qualifications; however, any perceived foot-dragging will likely be viewed as a lack of political will to hold former high-ranking officials accountable.

    Source: Premium Times – https://www.premiumtimesng.com/news/top-news/826505-certificate-forgery-premium-times-to-sue-ex-minister-nnajis-spokesperson-over-false-bribery-allegation.html , February 6, 2026

    Photo credit: Premium Times

  • Wike Announces Grand Plans for FCT at 50 Celebrations

    Wike Announces Grand Plans for FCT at 50 Celebrations

    According to reporting by The Punch, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, has officially announced plans for a landmark celebration to mark Abuja’s 50th anniversary. The “FCT at 50” events are expected to showcase the city’s transformation from a virgin territory in 1976 to a modern African metropolis. The Minister noted that the celebration would include the commissioning of several multi-billion naira infrastructure projects.

    The festivities are designed to promote Abuja as a premier destination for tourism and investment in West Africa. Wike emphasized that the milestone provides an opportunity to reflect on the city’s master plan and recommit to urban renewal efforts. Key highlights will include cultural festivals, investment summits, and the honoring of the city’s founding fathers.

    Daily Post and Leadership have both featured the Minister’s announcement. Daily Post reported that “the FCT administration is collaborating with private sector partners to fund the anniversary events.” Leadership Newspaper mentioned that “residents are expecting a facelift of several satellite towns as part of the celebratory projects.”

    Echotitbits take:

    Under Wike’s tenure, Abuja has seen a rapid acceleration of road and bridge construction. Using the 50th anniversary as a deadline for these projects is a clever political and administrative move to ensure completion. Expect a significant boost in the local hospitality sector during the anniversary month, though residents should prepare for temporary traffic diversions.

    Source: The Guardian – https://guardian.ng/news/abuja-50-golden-jubilee-drives-renewed-infrastructure-push-wike/, February 5, 2026

    Photo credit: The Guardian