Nigeria Secures Hosting Rights for 2027 Intra-African Trade Fair

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March 10, 2026

Reporting by Freshangle indicates that the Federal Republic of Nigeria has officially signed the host agreement for the fifth Intra-African Trade Fair (IATF2027). The signing ceremony, held in Lagos, positions Nigeria to host what is expected to be the continent’s largest marketplace, with a target of over $50 billion in trade and investment deals.

The event, organized in partnership with Afreximbank and the AfCFTA Secretariat, aims to attract 100,000 visitors and over 2,500 exhibitors. Nigeria takes over the baton from Algeria, signaling its renewed leadership role in advancing the African Continental Free Trade Area.

Validation: The Sun and Channels TV verified the agreement. The Sun mentioned that “IATF2027 will feature a Creative Africa Nexus (CANEX) showcase,” and Channels TV reported, “Nigeria is gearing up for Africa’s biggest trade marketplace.”

Echotitbits take: Hosting IATF2027 is a massive diplomatic and economic win. The focus on “Global Africa” suggests that the government is finally looking to leverage the creative and tech sectors as primary drivers of intra-continental trade.

Source: Dawan – https://www.dawan.africa/news/lagos-set-to-become-africas-trade-powerhouse-iatf-2027-promises-continental-surge, March 10, 2026

Photo credit: Guardian

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NEPC Laments 10% Non-Oil Export Share Despite Robust Trade with EU

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Bob Echols’s

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March 10, 2026

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Figures cited by Vanguard show that Nigeria’s non-oil exports to the European Union currently account for a mere 10% of the total $21.87 billion trade volume recorded with the bloc. The Nigerian Export Promotion Council (NEPC) has expressed concern over this disparity, urging local agro-exporters to adopt stricter international standards to penetrate the EU’s 400 million-strong consumer market.

The Council noted that while the trade volume is high, it remains heavily dominated by petroleum products. To bridge this gap, the NEPC is pushing for improved traceability and adherence to sustainable principles among Nigerian farmers and manufacturers.

Validation: Daily Trust and Premium Times reported on the trade imbalance. Daily Trust quoted the NEPC as saying, “Global trade is no longer driven by price but by standards,” while Premium Times noted that “Nigeria is missing out on billions in non-oil revenue from Europe.”

Echotitbits take: This is a wake-up call for the “Export 30” initiative. Without a drastic improvement in packaging and phytosanitary standards, Nigeria will remain a “petro-dependent” trader even in its most lucrative bilateral relationships.

Source: Vanguard – https://www.vanguardngr.com/2026/03/nigerias-non-oil-exports-to-eu-lag-at-10-despite-21-87bn-trade-nepc/, March 10, 2026

Photo credit: Vanguard

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Parallex Bank Hits N50bn Capital Requirement Ahead of CBN Deadline

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Bob Echols’s

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March 10, 2026

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In an update published by BusinessDay, Parallex Bank Limited announced that it has successfully crossed the N50 billion minimum capital threshold mandated by the Central Bank of Nigeria for regional commercial banks. This milestone marks a significant achievement for the institution, which transitioned from a microfinance bank to a commercial entity just a few years ago.

The bank’s Managing Director, Olufemi Bakre, stated that the successful recapitalization would empower the institution to expand its lending capacity and deepen financial inclusion. This development comes as the CBN intensifies its oversight to ensure that all deposit money banks are sufficiently cushioned against systemic shocks.

Validation: The Nation and Leadership also reported on the banking sector’s progress. The Nation reported that “Parallex joins the list of early bird compliant banks,” while Leadership noted that “CBN says 30 banks have now met the capital threshold.”

Echotitbits take: Parallex’s success is a signal that the banking sector’s “recapitalization fever” is yielding results. Expect a wave of mergers and acquisitions among smaller players who fail to meet the deadline in the coming weeks.

Source: The Guardian – https://guardian.ng/business-services/business/parallex-bank-completes-recapitalisation-positions-for-accelerated-growth/, March 10, 2026

Photo credit: The Guardian

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Geopolitical Tensions Push Naira to Two-Month Low Against Dollar

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Bob Echols’s

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March 10, 2026

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Reporting by Vanguard indicates that the Nigerian Naira has faced renewed pressure, depreciating to N1,425 per dollar in the official market as of Tuesday. This downturn is largely attributed to the escalating conflict in the Middle East, which has triggered a significant exit of Foreign Portfolio Investors (FPIs) seeking “safe haven” assets.

To mitigate the sharp decline, the Central Bank of Nigeria (CBN) reportedly injected approximately $500 million into the foreign exchange market. Despite these interventions, the gap between the official rate and the parallel market has widened slightly, reflecting heightened speculative activity and global economic jitters.

Validation: Market shifts were also tracked by The Punch and ThisDay. The Punch highlighted that “the indicative exchange rate for the naira rose to N1,425 per dollar,” while ThisDay quoted market analysts saying, “The decline comes amid intensified demand driven by escalating Middle East tensions.”

Echotitbits take: The CBN’s $500m intervention shows a “defense-at-all-costs” strategy for the Naira. However, if the Israel-Iran friction persists, we may see the Naira test the N1,500 mark before the end of the month unless oil prices provide a significant cushion.

Source: BusinessDay – https://businessday.ng/news/article/naira-posts-weekly-loss-as-dollar-strength-and-middle-east-tensions-drive-fx-demand/, March 10, 2026

Photo Credit: BusinessDay

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Tinubu Pledges Decisive Victory Over Terrorism and Economic Fragility

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Bob Echols’s

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March 10, 2026

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According to reporting by the News Agency of Nigeria (NAN), President Bola Tinubu has reaffirmed his administration’s unwavering commitment to eradicating the remnants of insurgency while steering the national economy toward a period of sustained prosperity. Speaking on Monday, the President emphasized that although security threats remain desperate, the military is successfully neutralizing agents of instability across the federation.

The President further noted that the nation has effectively moved past the “brink of bankruptcy” and is now entering a phase of fiscal stability. He highlighted that the federal government’s reforms are already yielding fruit, notably through improved liquidity for state governments, which has eliminated the need for commercial borrowing to settle civil service wages.

Validation: This development was also captured by Vanguard and Daily Post. The Vanguard noted that “The President assured that terrorists are getting barraged and defeated,” while Daily Post reported that Tinubu stated, “Nigeria will never surrender to agents of instability.”

Echotitbits take: This address serves as a strategic confidence booster for both foreign investors and the local populace. Watch for increased military spending in the Q2 supplementary budget and further policy shifts aimed at easing the cost of living as the “economic corner” is turned.

Source: Vanguard – https://www.vanguardngr.com/2026/03/well-defeat-terrorists-strengthen-economy-tinubu-assures-nigerians/amp/, March 10, 2026

Photo credit: The Guardian

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Baba Ijesha Stirs Controversy with New Song Claiming “Set-Up”

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March 10, 2026

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According to Punch Newspaper, convicted Nollywood actor Olanrewaju Omiyinka, better known as Baba Ijesha, has sparked fresh outrage by releasing a song titled “Eniwaye Daran.” In the track, the actor maintains his innocence, claiming that the sexual assault case that led to his imprisonment was a coordinated setup by a former colleague.

The music video, uploaded to his YouTube channel, features a narrative version of the events leading to his arrest. This move has been met with mixed reactions online, with many advocacy groups condemning the attempt to “re-write” the legal verdict through entertainment.

Legal experts suggest that while the actor has the right to release music, using it to challenge a judicial conviction in the court of public opinion is a sensitive move. The controversy has reignited debates about accountability and “cancel culture” within the Nollywood industry.

* Premium Times: “The actor insisted that the incident… was orchestrated by his former colleague.”

* Official @Punchng (X): “Baba Ijesha’s new track causes a stir as he narrates his version of the sexual assault case.”

Echotitbits Take:
Baba Ijesha is attempting the “victim” narrative to regain some semblance of a career, but the public’s memory of the evidence remains vivid. This “musical defense” is highly unlikely to clear his name in the eyes of the law or the majority of the public, and it may even backfire by provoking further legal scrutiny or protests from gender-based violence advocates.

Source: Punch Nigeria — https://punchng.com/baba-ijesha-insists-sexual-assault-charge-was-a-set-up-in-new-song/ March 9, 2026

Image Credit: Punch Nigeria

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2Baba Announces 25th Anniversary Milestone Concert “The Experience”

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Bob Echols’s

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March 10, 2026

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According to Vanguard News, legendary Afrobeats pioneer 2Baba is set to celebrate his 25th year on stage with a landmark concert titled “The Experience.” Scheduled for March 29, 2026, at the Eko Hotel in Lagos, the event is designed to honor the singer’s massive contribution to the global rise of Nigerian music.

The concert promises a deep dive into 2Baba’s extensive discography, featuring high-profile guest appearances from across the industry. Organizers describe the event as more than just a musical show, but a historic reflection on the evolution of African sound since the late 90s.

Industry veterans and fans have already begun flooding social media with tributes to the “African Queen” crooner. The celebration will serve as a lead-up to several other planned activities commemorating his silver jubilee in the entertainment industry.

* The Nation (Online): “The countdown to the 2Baba Experience has begun… it’s a celebration of a legacy that reshaped African pop.”

* Official @2babaofficial (Instagram): “25 years of grace, music, and the best fans in the world. See you at Eko Hotel on March 29th!”

Echotitbits Take:

2Baba’s 25-year run is a rare feat in an industry known for rapid turnover. This concert isn’t just about nostalgia; it’s a strategic move to solidify his legacy as the “Godfather” of the modern Afrobeats era. Expect a star-studded lineup that bridges the gap between old-school legends and the “New Wave” stars who grew up on his music.

Source: Vanguard — https://www.vanguardngr.com/2026/03/2baba-celebrates-25-years-on-stage-at-the-experience-concert/ March 9, 2026

Photo Credit: Vanguard

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Arsenal Holds Slim Lead as Premier League Title Race Heats Up

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Bob Echols’s

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March 10, 2026

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In a report by Las Vegas Sun Sports, the English Premier League standings for March 9, 2026, show Arsenal maintaining a 7-point lead at the top of the table. With 67 points from 30 games, the Gunners are under intense pressure from Manchester City, who sit at 60 points with a crucial game in hand.

The recent weekend saw Manchester United climb to third place after a 2-1 victory over Crystal Palace, while Chelsea secured a massive 4-1 win against Aston Villa to move into the top five. The race for European spots remains congested, with only three points separating Manchester United from Liverpool.

As the season enters its final stretch, the focus shifts to the upcoming March 14 fixtures, including a high-stakes clash between Arsenal and Everton. Pundits are predicting that the title race could go down to the final day, especially with Manchester City’s clinical form in recent weeks.

* Premier League Official: “Arsenal remain the team to beat, but Manchester City’s game in hand makes them a constant shadow.”

* Sky Sports News: “Chelsea’s 4-1 demolition of Villa proves they are back in the Champions League conversation.”

Echotitbits Take:

Arsenal’s “bottle” narrative will be tested over the next three weeks. While 7 points looks comfortable, Pep Guardiola’s City has a history of 10-game winning streaks in April. For Nigerian fans, the performance of Super Eagles players in these top-tier clubs remains a major talking point in every viewing center across the country.

Source: NY Times — https://www.nytimes.com/athletic/live-blogs/brighton-vs-arsenal-live-updates-premier-league-score-result/MHJjheFyrwtF/w9VxOjbNdHKV/ March 9, 2026

Image Credit: NY Times

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Nollywood Thriller “The Weekend” Secures HBO Max Global Deal

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Bob Echols’s

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March 10, 2026

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According to Broadcast Media Africa, the Nigerian thriller “The Weekend” has officially launched on HBO Max, marking another major win for Nollywood’s international expansion. The film’s addition to the global streaming platform is part of a broader trend of high-concept Nigerian cinema finding a home alongside Hollywood blockbusters.
The movie, which follows a tense family gathering gone wrong, has been praised for its production quality and departure from traditional Nollywood tropes. Its success on HBO Max follows the recent announcement that the animated series “Iyanu: Child of Wonder” will also premiere on the same network and Cartoon Network.

Industry experts suggest that the “HBO Max effect” could lead to more co-production deals between Nigerian filmmakers and international studios. The film is currently trending in several international markets, proving that West African storytelling has a universal appeal when given the right platform.

* HBO Max (Press Release): “We are thrilled to bring ‘The Weekend’ to our global audience… a testament to Nollywood’s evolving craft.”

* FilmOne Entertainment (X): “Nollywood to the world! ‘The Weekend’ is now streaming globally on HBO Max. Don’t miss this thriller.”

Echotitbits Take:

Nollywood is no longer just “exporting” movies; it’s competing for primetime global viewership. The move to HBO Max is a significant prestige boost compared to the oversaturated Netflix library. Watch for “The Weekend” to potentially spark a new wave of psychological thrillers from Lagos, as filmmakers move away from standard comedies to chase global streaming metrics.

Source: The Guardian — https://guardian.ng/art/the-weekend-now-streaming-on-hbo-max-in-central-eastern-europe/ March 9, 2026

Photo Credit: The Guardian

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Cardi B and Latto to Headline 2026 ESSENCE Festival

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Bob Echols’s

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March 10, 2026

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A press release from ESSENCE Festival of Culture has confirmed that Cardi B and Latto will lead the first wave of performers for the 2026 Evening Concert Series in New Orleans. The festival, which takes place July 3–5, is themed around celebrating women who have “set standards and broken ceilings” in the Hip-Hop and R&B landscape.

Cardi B will be making her debut at the legendary festival, marking a significant milestone in her career as she continues to dominate the commercial and cultural space. Latto joins her as a representative of the new era of Southern rap, highlighting the festival’s commitment to both legends and rising powerhouses.

The lineup also features soul icon Patti LaBelle and R&B favorites Brandy and Monica, promising a multi-generational musical experience. The 2026 edition is expected to be one of the largest gatherings of Black female talent in recent years, with additional names to be announced in the coming weeks.

* Las Vegas Sun: “Cardi B will make her ESSENCE Festival debut… bringing a career that reshaped the commercial landscape.”

* Official @Essence (Instagram): “The ladies are taking the stage. Cardi B, Latto, and more are coming to the Caesars Superdome!”

Echotitbits Take:

Landing Cardi B for her ESSENCE debut is a massive win for the festival’s organizers. It signals a shift toward more contemporary, high-energy Hip-Hop while maintaining the festival’s “Soul” roots with LaBelle. For Cardi, this is a strategic move to re-affirm her “A-list” status amid a highly competitive female rap scene in 2026.

Source: Fox8Live — https://www.fox8live.com/2026/03/09/cardi-b-latto-brandy-monica-announced-essence-fest-2026/ March 9, 2026

Photo Credit: Fox8Live

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