The Historica Nigeria

Author name: Umar Idris Shuaibu

Economy, National, News

Tinubu Directs Regulators to Strengthen Oversight of Stablecoins, Digital Currencies

President Bola Ahmed Tinubu has directed Nigeria’s financial and capital market regulators to intensify oversight of stablecoins and digital currencies, warning that the rapid shift away from traditional banking poses emerging risks that must be addressed proactively. The President, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the directive on Tuesday at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja. “There is a digital revolution. So many people now are not using the banking system to make payments. They’ve turned to stablecoins, they’ve turned to digital currency. To this end, I have directed capital market and banking authorities to get hold of this narrative and track it whilst it is still evolving,” Tinubu said. Read Also: Wike Appoints Acting Head of Service for FCT Administration Engr. Ganduje’s Mega Empowerment Transforms Lives of Kano Youths Aminu Kano Teaching Hospital Launches Free Emergency Ambulance System The Securities and Exchange Commission (SEC) has already begun tightening regulation under the Investment and Securities Act 2025, which classifies digital assets as securities. The law empowers the SEC to license and supervise Virtual Asset Service Providers—including exchanges and custodians—under strict Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. Beyond regulation, Tinubu stressed the need for Nigeria to reinvent its economy through digital adoption, artificial intelligence, and open banking to drive industrialisation and job creation. “Yes, our GDP is growing, but the industrial contribution from manufacturing is not where it should be to create the jobs we need. Innovation is key for adopting digital, AI, and open banking to enhance efficiency,” he noted. The President also reiterated his administration’s commitment to harnessing Nigeria’s youthful population, projected to become the world’s largest workforce by 2050. “Our young population is an asset. By 2050, Nigeria will provide the largest workforce in the world. That is why we are investing in education, infrastructure, and digital skills to prepare them for the opportunities of tomorrow,” he affirmed. On fiscal reforms, Tinubu pointed to measures linking state accounts with the Central Bank of Nigeria (CBN) to boost transparency and revenue. “That linkage with the Central Bank now gives us full visibility on government finances, and that will yield dividends by increasing government revenue,” he said. He emphasised that financial inclusion must be tied to job creation, particularly for young Nigerians. “Inclusion means jobs—quality, attractive jobs, especially for our young men and women. Households must have reliable access to affordable financial services and reputable loans,” he added. Tinubu pledged that his administration will continue to stabilise the economy, reduce poverty, and attract private investment. “Those that innovate, that reform, that collaborate, will thrive. This is the path that Nigeria is firmly committed to,” he declared. Meanwhile, CBN Governor Olayemi Cardoso announced plans to attract at least $1bn in monthly diaspora remittances by 2026. “The Nigerian diaspora is one of the most vibrant in the world. If we are able to harness even a fraction of their earnings and direct them into our economy, the impact will be transformative,” he said. Cardoso revealed that partnerships with banks such as Access Bank and Zenith Bank have already helped boost inflows. “When we started, remittances stood at $250m a month. We set a target to double that to $500m. Now, we are at $600m,” he noted. CIBN President and Council Chairman, Prof. Pius Olanrewaju, highlighted the significance of the conference in shaping economic policy, noting that listed banks have raised N2.5tn since 2024 and non-oil exports generated $3.23bn in the first half of 2025. He also lauded Tinubu’s approval of four tax reform bills consolidating over 100 tax agencies into the Nigeria Revenue Service, which will take effect in January 2026. The conference attracted stakeholders from banking, finance, and technology, focusing on digital innovation, policy reforms, and private investment as drivers of inclusive growth and economic transformation.

Kano, News

Governor Abba Approves Reconstruction of ’Yanshana Bridge After Community Protest

Governor Abba Kabir Yusuf of Kano State has approved the immediate reconstruction of the collapsed ’Yanshana Bridge in Kumbotso Local Government Area. The governor announced the decision on Tuesday at the Government House, Kano, when residents of ’Yanshana staged a peaceful protest to draw his attention to the community’s plight. Governor Yusuf assured the protesters that the State Executive Council, at its Wednesday meeting, would formally approve the commencement of work on the bridge, which has cut off residents from their daily activities since its collapse. Read Also: Kano Govt Panel Describes Abattoir Disposal as Monumental Destruction In addition to the bridge, the governor also directed the completion of an abandoned secondary school project in the area. He further pledged that within two weeks, a new transformer would be installed in the community to boost electricity supply. Governor Yusuf equally instructed the Chairman of Kumbotso Local Government to immediately provide land for a new cemetery to serve the people of ’Yanshana. One of the community leaders thanked the governor for his prompt response, describing the intervention as a great relief for residents who have long endured hardship due to the collapsed bridge and other pressing challenges.

Kano, News

Engr. Ganduje’s Mega Empowerment Transforms Lives of Kano Youths

A wave of renewed hope and opportunity is sweeping through Kano State as more than 7,000 young men and women benefit from a mega empowerment programme championed by Engr. Abba Ganduje, Executive Director Engineering at the Rural Electrification Agency (REA). Through the initiative, youths across Dawakin Tofa, Rimingado, Tofa and neighbouring areas received vital resources to kick-start or expand their livelihoods. Items distributed included motorcycles, grinding machines, irrigation water pumps, sewing machines, fertilizers, and hundreds of bags of rice designed not only to provide immediate relief but also to spark long-term self-reliance and entrepreneurship. The high-profile event, hosted at the Amani Event Centre along Tamandu Road, Nasarawa, drew notable dignitaries, among them Alhassan Ado Doguwa, Engr. Rabi’u Suleman Bichi, Musa Iliyasu Kwankwaso, and Baffa Babba Dan Agundi. Their presence underscored the strategic importance of empowering Kano’s youth in the state’s broader vision for economic progress. Related: Kano’s Political Probe: Ganduje’s Legacy Versus NNPP’s Scandals Abba Ganduje Distributes Over 1,000 Solar Lights to 38 Wards in Kano Jiwa Emirate Confers Traditional Title on Ganduje’s Grandson Addressing the gathering, Engr. Abba Ganduje reaffirmed his commitment to nurturing the potential of young people and equipping them with opportunities to succeed. “Our youths are the backbone of this state. When we empower them, we empower Kano’s future,” he declared. Speaking on the impact of the programme, Director of Training and Programmes in Progressive Institute (TPI), Honourable Sanusi Sa’id Kiru praised the initiative, describing Ganduje as “a leader with a father’s heart, who ensures that every young person has the guidance, opportunity, and resources to succeed. This programme is a clear demonstration of visionary leadership in action.” Celebrated as one of the largest youth empowerment drives in recent years, the initiative is being hailed as a turning point for Kano’s youth transforming them into active contributors to economic growth, social stability, and community development.

Kano, News

Kano Bans Illegal Chainsaw Use, Introduces Permit Framework

The Kano State Ministry of Environment and Climate Change has announced a statewide ban on the illegal use of chainsaws for cutting, felling, or trimming of trees. The announcement was made by the Honourable Commissioner during a press briefing at the Ministry for Local Government’s Conference Hall and later shared with ‘The Historica Nigeria’ on Tuesday. According to the Commissioner, the measure is aimed at protecting the environment from indiscriminate deforestation, safeguarding community livelihoods, and ensuring the long-term sustainability of Kano State’s natural resources. Read Also: Kano Govt Panel Describes Abattoir Disposal as Monumental Destruction Legal Backing The Ministry explained that the ban is supported by key legal provisions, including the 1999 Constitution of the Federal Republic of Nigeria (Section 20), which mandates government to protect and improve the environment; the National Environmental Standards and Regulations Enforcement Agency (NESREA) Act, 2007; and the National Environmental Regulations, 2014, which govern tree cutting and charcoal production. In addition, the initiative aligns with Nigeria’s NDC 3.0 Implementation Strategy, which targets a 60 percent reduction in deforestation and the restoration of degraded forests through sustainable forest management. The Ministry emphasized that the ban and the proposed Chainsaw Usage Permit Framework (CUPF) form part of its broader commitment to combating climate change and promoting environmental sustainability in the state.

Kano, News

Kano Govt Panel Describes Abattoir Disposal as Monumental Destruction

The committee set up by the Kano State Government to investigate the sale of the Nigerian Meat and Allied Products (NIMAP) Abattoir has visited the site in the Challawa area of Kano to assess its current condition. Speaking to journalists during the inspection, the committee chairman, Barrister Muhyi Magaji Rimingado, described the disposal of the multi-million-naira facility as “a monumental destruction of unimaginable magnitude.” Rimingado, a former chairman of the Kano State Public Complaints and Anti-Corruption Commission, said the abattoir was originally designed to provide multiple services that would generate revenue and create job opportunities for residents. Read Also: Waiya: Kano Govt Committed to Ethical Communication, Responsible Governance “The committee has seen for itself the structures that have remained here for the past 35 years. This place once housed many fish ponds that were sustained by the remains of the abattoir’s operations. We were recently told that the government even received proposals from Arab countries to invest in processing halal meat here for both domestic use and export,” he said. He explained that the visit was necessary to establish what happened to the facility, adding that individuals, organizations, or government agencies found culpable would be investigated and recommended for appropriate action. “Though much of the structure is no longer standing, the remains are clear to see. We have all the records on paper, and based on our report, if the government decides to revive the abattoir, it would require no less than ₦20 billion. We are investigating who destroyed the structures, where the equipment is, and we will trace those who bought the facilities,” he added. Rimingado noted that the committee’s mandate also includes identifying those who were allocated or sold portions of the land, assuring that the findings would help recover the abattoir’s lost glory and restore accountability. The abattoir, established more than three decades ago as a key economic and employment hub for Kano, has fallen into neglect following its controversial disposal. Governor Abba Kabir Yusuf, last Wednesday, inaugurated an 11-member panel to investigate the alleged sale of the multi-billion-naira NIMAP facility under the previous administration.

Kano, News

Bridge Collapse in Kumbotso Cuts Off Danshana Residents from Na’ibawa

The Dare Bridge in Kureken Sani, located within the ‘Yanshana community of Kumbotso Local Government Area, Kano State, has collapsed, leaving thousands of residents stranded and unable to carry out their daily activities. The bridge, which served as the only link between the ‘Yanshana communities and Naibawa, had shown signs of deterioration for months before finally giving way after heavy rainfall on Monday night. Speaking to journalists, a community member, Mallam Mustapha Mustapha, described the incident as both “horrific and devastating.” He said the collapse has disrupted the lives of students, patients, traders, civil servants, and other residents who depend on the route for schooling, healthcare, and economic activities. Read Also: Kano Police Warn Motorists as Yaryasa Bridge Collapses “As I speak to you now, we are all desperately searching for alternative routes to carry on with our daily activities. The only available path requires a long and winding journey, stretching several kilometers and leading to a far-off location,” Mustapha stated. He expressed particular concern for children and women who frequently travel to Na’ibawa for school and medical care. “We are grateful that no lives were lost in the incident, as it happened during the night while it was raining,” he added, recalling the terrifying sound of rushing water beneath the collapsed bridge. According to him, residents have started mobilizing to march to Governor Abba Kabir Yusuf’s residence to seek urgent intervention to ease the hardship caused by the collapse. Mustapha also cautioned parents to keep their children away from the collapsed structure, warning of the dangers posed by the raging floodwaters beneath. (Justice Watch)

Delta, News

Lt.-Col. Abducted as Gunmen Attack Lodge in Delta

An army officer was abducted in the early hours of Tuesday after armed men stormed a lodge in Bomadi, Delta State. The senior officer, identified as Lt.-Col. Josiah, had reportedly returned from a wedding in Kpakiama community and was resting at his lodge in Bomadi, headquarters of Bomadi Local Government Area, when the gunmen launched the attack. According to accounts, the incident occurred between 2 a.m. and 2:30 a.m., sparking fear across the riverside town. Soldiers attached to the Joint Task Force (JTF) have since stepped up security patrols in Bomadi and nearby communities. Read Also: Nigeria’s N149trn Debt Threatens Stability – Abbas A witness, who asked not to be named, described how the kidnappers carried out the operation. “The kidnappers came to the hotel about 2 a.m. to 2.30 a.m. They searched every room, took the phones of lodgers and forced the military officer outside. They even fired shots before zooming out of the hotel premises with the military officer in their vehicle. There was also blood on the ground after they had left the premises. “The following day, we heard that the JTF had found the vehicle in which they carried out the operation in neighbouring Tuomo community, which was abandoned by the side of the Tuomo-Ogbobagbene-Tamigbe-Torugbene-Ojobo road. The vehicle has already been brought to their base at Bomadi-Overside,” the source said. Efforts to reach Delta State Police Public Relations Officer, Bright Edafe, for comments were unsuccessful, as calls to his official line went unanswered at the time of filing this report. (Platinum Post)

Abuja, News

Wike Appoints Acting Head of Service for FCT Administration

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved the appointment of Mrs. Sabanti Nathan as the Acting Head of Service of the FCT Administration. Her appointment follows the passing of Grace Adayilo on September 1, 2025. The development was confirmed in a statement issued on Tuesday by Lere Olayinka, Senior Special Assistant on Public Communications and Social Media to the minister. Read Also: FCT Resident Doctors Begin Seven-Day Warning Strike According to the statement, Nathan’s appointment takes immediate effect and will remain in place until a substantive Head of Service is officially named. Until her elevation, Nathan served as Permanent Secretary of the Youth Development Secretariat of the FCTA. She had earlier held the position of Director of Finance and Administration in the Office of the FCT Minister.

Kaduna, National, News

El-Rufai Petitions PSC Over Kaduna Police Conduct, Seeks Probe

Former Kaduna State governor, Nasir El-Rufai, has petitioned the Police Service Commission (PSC), accusing officers of the Kaduna State Police Command of unprofessional conduct and violations of the Police Act. In the petition, El-Rufai stressed the importance of accountability in law enforcement, urging the PSC to act against misconduct that erodes public trust in the police. “I am writing out of concern that the Nigerian Police, warts and all, is the only frontline law enforcement institution that we have. The duty of all citizens is not only to support it at every level, but also to ensure that the Commission is provided opportunities to deliver on its regulatory powers to enforce discipline and promote sound and ethical conduct by all police officers at all times. Read Also: Reps Speaker Clarifies Position on Borrowing, Denies Criticizing Govt FCT Resident Doctors Begin Seven-Day Warning Strike Tinubu Sacks Special Assistant on Digital and Creative Economy “This laudable goal can only be attained if the Commission’s attention is continuously drawn to any egregious conduct of some bad eggs that serve interests other than those conferred by law in Section 4 of the Police Act, 2020. Such conduct negatively affects the image of the Police and undermines public confidence in its leadership,” he wrote. The former governor noted that he had previously petitioned the Inspector-General of Police over what he described as “egregiously unlawful acts” allegedly committed by some officers since the assumption of office by Kaduna Police Commissioner, Rabiu Muhammad, on December 30, 2024. He urged the PSC to conduct an “immediate, impartial, and exhaustive” investigation into the matter. El-Rufai’s petition comes against the backdrop of a police summons requiring him and other leaders of the African Democratic Congress (ADC) in Kaduna to appear before investigators over allegations of criminal conspiracy, incitement, mischief, public disturbance, and causing grievous harm. The invitation, signed by Deputy Commissioner of Police in charge of Criminal Investigation, Zubairu Abdullahi, directed El-Rufai and others to report to the State Criminal Investigation Department (SCID). “This Department is currently investigating the above-mentioned case involving the following members of your party. You are requested to come along with them to SCID to clarify allegations reported against them by the complainants on 8th September, 2025,” the letter stated. However, some ADC members claimed they were not officially served, insisting they only became aware of the summons through social media reports. The controversy followed violent clashes on August 30, when suspected thugs attacked the inauguration of a transition committee formed by a coalition of opposition parties under the ADC in Kaduna. Armed with cutlasses, clubs, and stones, the attackers injured participants and destroyed property, though the event eventually continued amid tension. The coalition, which includes an APC faction opposed to the state leadership as well as the PDP, SDP, NNPP, Labour Party, and ADC, accused the ruling party of sponsoring the violence. The Kaduna Police Command, however, blamed El-Rufai for failing to notify security agencies ahead of the gathering.

National, News

Reps Speaker Clarifies Position on Borrowing, Denies Criticizing Govt

The Speaker of the House of Representatives, Tajudeen Abbas, has dismissed reports claiming that he openly condemned the Federal Government’s borrowing practices. At the West Africa Association of Public Accounts Committees (WAAPAC) conference on Monday, Abbas had raised concerns over Nigeria’s rising debt profile, warning that it had reached “a critical point” and called for reforms in debt management and oversight. “As of the first quarter of 2025, Nigeria’s total public debt stood at N149.39 trillion, about US$97 billion. Even more concerning is the debt-to-GDP ratio, which now stands at roughly 52 per cent, well above the statutory ceiling of 40 per cent set by our laws. This is not just a budgetary concern but a structural crisis that demands urgent parliamentary attention and coordinated reform,” he said. Read Also: Nigeria’s N149trn Debt Threatens Stability – Abbas Tinubu Sacks Special Assistant on Digital and Creative Economy FCT Resident Doctors Begin Seven-Day Warning Strike However, in a clarification issued by his Special Adviser on New Media, Jowosimi Enitan, the Speaker maintained that his comments had been misinterpreted. “For the record, Speaker Abbas Tajudeen, PhD, GCON, never condemned borrowing,” Enitan stated. He explained that Abbas, who was represented at the conference by PDP lawmaker Babatunde Salam, emphasized that borrowing could serve as a useful tool for growth if properly managed. “Public debt, if managed prudently, can be a tool for growth and prosperity. The legislature’s role is to ensure that every naira borrowed delivers tangible value to Nigerians,” Enitan noted. He further highlighted that President Bola Tinubu is already working to reduce reliance on borrowing through a stronger non-oil revenue drive. “For the first time in decades, Nigeria has met its 2025 revenue target ahead of schedule, without reliance on borrowing. This is proof that with discipline, focus, and courage, we can reduce dependence on external loans and secure our economic sovereignty,” he said. Enitan stressed that Abbas’s remarks were not against borrowing itself but a call for transparency, accountability, and effective oversight to ensure that loans are channeled into meaningful development projects such as roads, schools, hospitals, and innovation. “Oversight of public debt is a constitutional duty and a moral responsibility of parliament. The Speaker’s position is about safeguarding Nigeria’s financial future, not playing to the gallery of mischief-makers,” Enitan added.

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