Lagos scraps Greater Lagos Fiesta hours to New Year, urges residents to pray

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December 31, 2025

2025-12-31 09:21:00

Figures cited by PUNCH show the Lagos State Government called off the Greater Lagos Fiesta 2025 scheduled for December 31, directing residents to mark the period with personal prayers for the nation and the state instead.

The decision was communicated in a statement attributed to the governor’s media team, positioning the cancellation as a shift from mass celebration to reflection and prayer ahead of 2026.

The annual event is one of Lagos’ flagship end‑of‑year entertainment programmes, so the abrupt cancellation has sparked debate in the city’s creative economy and among residents.

Vanguard reported that the government “announced the cancellation of the 2025 Greater Lagos Fiesta,” while Guardian Life quoted the statement: “Lagos State Government cancels Greater Lagos Fiesta 2025.”

Echotitbits take: The optics matter—Lagos is Nigeria’s entertainment capital and the fiesta is a tourism/creative‑economy signal. Watch whether the state replaces the lost economic activity with alternative programmes, and whether security or governance concerns drove the decision.

Source: The Punch — December 31, 2025 (https://punchng.com/lagos-cancels-greater-lagos-fiesta-2025/)

The Punch December 31, 2025

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Rivers assembly rejects N100,000 Christmas credit, cites due‑process breach

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B.O.B Echoload

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December 31, 2025

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2025-12-31 09:14:00

In a report published by PUNCH, members of the Rivers State House of Assembly said they rejected—and moved to return—N100,000 credited to each lawmaker’s account as a Christmas bonus, arguing it did not follow proper authorisation.

The lawmakers framed the transfer as an ‘unapproved’ payment and linked it to the wider political standoff in the state, insisting the executive must adhere strictly to constitutional and budget processes.

The development adds another flashpoint to Rivers’ tense political climate, with analysts watching for how it affects governance, budgeting and the executive‑legislature relationship in early 2026.

Vanguard reported that assembly members “have returned the N100,000 Christmas bonus given to them by the governor,” while Leadership said lawmakers “have rejected the N100,000 Christmas Bonus credited to their personal bank accounts.”

Echotitbits take: Beyond the headline, this is a proxy fight over legitimacy and control of state institutions. Expect more legal manoeuvres and competing public narratives. Watch whether public finance processes (appropriation, releases, oversight) become the next battleground.

Source: The Punch — December 31, 2025 (https://punchng.com/rivers-lawmakers-reject-fubaras-n100000-christmas-bonus/)

The Punch December 31, 2025

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Ondo Amotekun arrests 39 suspects after Sokoto airstrike spillover scare

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B.O.B Echoload

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December 31, 2025

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2025-12-31 09:07:00

Reporting by PUNCH indicates the Ondo State Amotekun Corps arrested 39 suspects it says fled Sokoto State and moved into forest reserves in Ondo following recent airstrikes targeting extremist hideouts in the North‑West.

The corps said the arrests were made near the Elegbeka axis in Ose LGA during an operation that also netted other suspects linked to kidnapping and armed robbery, as the state tightens security around forest corridors.

Officials said profiling is ongoing, including possible prosecution or handover to relevant authorities depending on the outcome of investigations.

Channels Television reported that the suspects “confessed that they are fleeing from the northern part of the country due to the recent attacks launched against them,” while TheCable wrote Amotekun “has arrested 39 suspected terrorists who allegedly fled Sokoto and relocated to forest reserves in the state.”

Echotitbits take: This is the ‘balloon effect’ of counter‑terror pressure—fighters scatter into softer targets and forest belts. Expect more inter‑state coordination in the South‑West and tighter controls on forest reserves; watch how prosecution is handled to avoid recycling suspects.

Source: The Punch — December 31, 2025 (https://punchng.com/us-strike-39-fleeing-sokoto-suspects-arrested-in-ondo/)

The Punch December 31, 2025

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CBN flags 2026 growth at 4.49%, expects inflation slide to 12.94%

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B.O.B Echoload

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December 31, 2025

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2025-12-31 09:00:00

According to The Nation, the Central Bank of Nigeria’s latest macro outlook projects real GDP growth of about 4.49% in 2026, while average inflation is expected to ease to roughly 12.94% as reforms, forex stability and improved output begin to bite.

The outlook points to a mix of stronger non‑oil activity and a steadier external position, with the apex bank signalling that structural reforms and better macro coordination could support a more durable recovery.

Markets will watch whether the assumptions—especially oil output and FX conditions—hold into Q1 2026, and how the forecast shapes monetary-policy expectations.

Reuters also reported that the CBN “forecasts 4.49% economic growth” and sees inflation “easing to an average 12.94% in 2026,” while BusinessDay similarly wrote that Nigeria’s economy is “projected to expand by 4.49 percent in 2026.”

Echotitbits take: The headline numbers look optimistic versus Nigeria’s recent inflation experience. The real test is whether disinflation is driven by supply (food, logistics, energy) and FX stability—not just base effects. Watch Q1 inflation prints and CBN messaging on rates/liquidity.

Source: Guardian — December 31, 2025 (https://guardian.ng/business-services/cbn-projects-4-49-growth-lower-inflation-in-2026-outlook/)

Guardian December 31, 2025

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AFCON 2025: Nigeria finish group stage perfect after 3–1 win vs Uganda

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B.O.B Echoload

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December 31, 2025

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2025-12-31 09:03:00

In a dispatch by PUNCH, Nigeria beat Uganda 3–1 to close the group stage with a perfect points haul, with Paul Onuachu scoring and Raphael Onyedika netting twice as Uganda’s game collapsed after a red card.

The result reinforced Nigeria’s depth, coming amid squad rotation, while also underlining the tournament’s fine margins—one dismissal can swing the entire tactical balance.

For Uganda, the loss confirmed elimination, while Nigeria’s momentum now carries into the knockout phase with confidence and options.

Validation: Reuters said “Onyedika nets twice for Nigeria with Onuachu also on target.” and Al Jazeera reported “Raphael Onyedika has scored twice, and Paul Onuachu has netted his first international goal in four years.”

Echotitbits take: Nigeria’s biggest advantage is depth—if the team avoids suspensions and manages minutes well, they can outlast most opponents. Watch for injury updates and how the coach balances rotation vs rhythm in the last-16 tie.

Source: The Punch — 31 December 2025 (https://punchng.com/afcon-2025-nigeria-beats-uganda-3-1/)

The Punch 31 December 2025

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Military reports arrest of suspected suicide bomber; 189 AK-47s recovered in NW ops

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B.O.B Echoload

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December 31, 2025

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2025-12-31 08:56:00

In an update published by PUNCH, the Nigerian military says operations led to the arrest of a suspected suicide bomber in Borno and the recovery of 189 AK-47 rifles in the North-West, alongside ammunition seizures and kidnapping-rescue outcomes.

The report says troops also intercepted materials described as precursors for improvised explosive device production, framing the actions as intelligence-led efforts to disrupt planning and logistics.

In the North-West claim-set, the military also highlighted wider results under Operation Fasanyama, including recovered weapons and rescued victims across multiple states.

Validation: Voice of Nigeria said “a potential terror attack was averted in Borno State as troops… arrested a suspected suicide bomber and intercepted materials.” and HQ Nigerian Army reported “TROOPS APPREHEND SUSPECTED SUICIDE BOMBER, INTERCEPT IED MATERIALS IN BORNO.”

Echotitbits take: Counterterrorism reporting is increasingly contested—note the competing institutional claims and the need for independent verification. Watch for official follow-up briefings, prosecutions, and community-level impact in affected areas.

Source: The Punch — 31 December 2025 (https://punchng.com/military-arrests-suicide-bomber-recovers-189-ak-47-rifles/)

The Punch 31 December 2025

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EFCC arraigns Malami, wife, son over alleged ₦8.7bn money laundering

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B.O.B Echoload

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December 31, 2025

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2025-12-31 08:49:00

In a report carried by PUNCH, the EFCC has arraigned former Attorney-General Abubakar Malami alongside his wife and son in an Abuja court over alleged ₦8.7bn money laundering, with proceedings focusing on the agency’s stated charges and the defendants’ responses.

The case is one of the most politically sensitive anti-graft developments of the period, given Malami’s former role at the centre of federal legal and justice architecture.

Beyond courtroom drama, the prosecution’s ability to present clean money trails—and the defence’s ability to challenge them—will shape how the public reads the credibility of the anti-corruption push.

Validation: EFCC said “a 16-count charge bordering on conspiracy… and laundering proceeds of unlawful activity.” and Premium Times reported “conspired to disguise the origin of funds… in violation of the Money Laundering… Acts.”

Echotitbits take: This is a test-case for high-profile prosecution quality—paperwork, evidence integrity, and judicial pace. Watch adjournments, bail terms, and whether related asset actions (if any) emerge.

Source: The Punch — 31 December 2025 (https://punchng.com/money-laundering-malami-wife-son-to-spend-new-year-in-prison/)

The Punch 31 December 2025

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US plans to deport Nigerian national linked to Bloods gang after multiple convictions

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B.O.B Echoload

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December 31, 2025

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2025-12-31 08:42:00

According to PUNCH, US immigration authorities say they plan to deport Ibrahim Ijaoba, a Nigerian national described as a former member of the Bloods gang, following convictions including armed robbery and drug-related offences.

The report says the case is being driven by US Immigration and Customs Enforcement (ICE), with officials emphasising his immigration status and criminal record as the basis for removal.

The development sits within a wider US enforcement trend where immigration violations combined with violent felony convictions accelerate deportation actions.

Validation: Premium Times said “over multiple criminal convictions, including armed robbery and drug sales.” and The Guardian reported “following his conviction for multiple violent crimes, including armed robbery, drug sales and aggravated assault.”

Echotitbits take: Deportation stories often ripple into diaspora community politics—especially when they touch gangs and public safety. Watch whether Nigerian authorities comment, and whether there’s a broader enforcement wave tied to specific categories of offenders.

Source: The Punch — 31 December 2025 (https://punchng.com/us-to-deport-nigerian-over-gang-membership/)

The Punch 31 December 2025

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Afreximbank-backed “gold bank” initiative takes shape with Egypt partnership

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B.O.B Echoload

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December 31, 2025

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2025-12-31 08:35:00

In coverage from PUNCH, Afreximbank is moving toward a pan-African “gold bank” concept via a formal partnership with Egypt’s central bank, aimed at building structured value chains around Africa’s gold sector.

The initiative is being framed as an institutional push to formalise gold trade, strengthen reserves management options, and reduce fragmentation that often leaves value outside producer economies.

For African commodity strategy, the bigger idea is shifting from “raw export” to financeable, standardised flows that can support industrial policy, reserves, and cross-border trade.

Validation: Afreximbank said “Memorandum of Understanding… for the Establishment of a Gold Bank programme in Egypt.” and Egypt Today reported “to establish a gold bank aimed at transforming Africa’s gold industry.”

Echotitbits take: If executed well, this could be a template for commodity-backed trade finance that keeps more value within Africa. Watch for governance details, bullion standards, custody frameworks, and how smaller producer states are brought in.

Source: Tanzaniatimes — 31 December 2025 (https://tanzaniatimes.net/egypt-and-afreximbank-to-establish-a-pan-african-gold-bank/)

Tanzaniatimes 31 December 2025

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GTCO moves to raise ₦10bn via private placement as recapitalisation pressure builds

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B.O.B Echoload

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December 31, 2025

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2025-12-31 08:28:00

As reported by PUNCH, Guaranty Trust Holding Company (GTCO) says it will raise ₦10bn through a private placement involving 125 million ordinary shares, positioned within its regulatory and capital-raising framework.

The company says the transaction follows relevant guidelines for financial holding companies, and it’s structured as a targeted placement rather than a broad public offer.

In a market where banks are racing to meet higher capital thresholds, deals like this signal a preference for faster, cleaner capital injections—especially if investor demand is solid.

Validation: Investegate said “undertaking a private placement to raise ₦10 billion by issuing 125,000,000 ordinary shares at ₦80 per share.” and TheCable reported “has secured approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).”

Echotitbits take: Private placements are speed tools—good for timelines, but they test investor appetite and pricing discipline. Watch the pricing mechanics, investor mix, and whether more tier-1 banks follow with similar structures.

Source: The Punch— 31 December 2025 (https://punchng.com/gtco-to-raise-n10bn-through-private-placement/)

The Punch 31 December 2025

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