General News
Nigeria’s foreign reserves exceeds target, rises above $52.5bn
By Our Reporter with agency report
The Central Bank of Nigeria (CBN) Tuesday disclosed that Nigeria’s foreign reserves has exceeded the its annual target and has climbed above $52.5 billion as of July 17, 2026, representing a 17-year high.
The apex bank attributed the country’s rising foreign reserves to renewed investor confidence and sustained capital inflows, saying its ongoing economic reforms are restoring stability to Nigeria’s financial system.
The Acting Director of Corporate Communications and Investor Relations Department of the CBN, Mrs. Hakama Sidi Ali, made the assertion while delivering the CBN Governor, Mr Yemi Cardoso’s opening remarks at the CBN Fair held at the International Conference Centre, Gombe.
She said the increase was supported by sustained foreign exchange inflows and renewed investor participation across various asset classes in the Nigerian economy, reflecting growing confidence in the country’s economic management.
According to her, the reforms introduced under the leadership of CBN Governor Olayemi Cardoso are beginning to produce measurable gains, including improved macroeconomic stability, easing inflation and greater confidence in the foreign exchange market.
She noted that headline inflation declined slightly from 15.93 per cent in May to 15.91 per cent in June 2026, while both food and core inflation also moderated during the period due to disciplined monetary tightening, exchange-rate unification and improved market transparency.
The CBN Acting Director of Corporate Communications further stated that the naira has continued to strengthen, with the gap between the official exchange rate and Bureau de Change rates narrowing to below two per cent, a development she described as evidence of improving foreign exchange market stability.
She highlighted other reforms undertaken by the apex bank over the past 34 months, including banking sector recapitalisation, the launch of the non-resident Bank Verification Number (BVN), the B-Match foreign exchange trading platform, the Nigeria Payments System Vision 2028 and the introduction of the Nigerian Overnight Financing Rate benchmark.
Earlier, the Branch Controller of the CBN Gombe Branch, Mr Yunusa Buba Mubi, described the CBN Fair as an annual engagement platform designed to educate the public on the Bank’s policies and provide an avenue for stakeholders to ask questions and offer feedback.
General News
INEC announces Adeleke as winner of Osun governorship election

By Akin Osinwo
The Independent National Electoral Commission (INEC) has declared Osun State Governor, Ademola Adeleke, the winner of Saturday’s governorship election, after he secured the highest number of votes across the state.
The State Returning Officer for the election and Vice-Chancellor of the Federal University, Oye Ekiti, Prof. Joshua Ogunwole, announced the final results at about 7:24am on Sunday.
Adeleke, who contested the election on the platform of the Accord, polled 511,067 votes to defeat the candidate of the All Progressives Congress, Bola Oyebamiji, who garnered 444,815 votes.
With the victory, the incumbent governor has secured another term in office.
Adeleke won in 19 of the state’s 30 local government areas, while Oyebamiji prevailed in 11 LGAs.
The governor recorded victories in Ede North, Ede South, Ejigbo, Iwo, Egbedore, Ife North, Ife East, Ife Central, Oriade, Ifelodun, Orolu, Ayedaade, Ayedire, Odo Otin, Boluwaduro, Ilesa West, Ifedayo, Osogbo and one other local government area.
Oyebamiji, on the other hand, secured victory in Irewole, Isokan, Olorunda, Atakumosa East, Atakumosa West, Ilesa East, Boripe, Irepodun and Obokun, among others.
Giving the final figures, Ogunwole said, “Accredited voters, 1010684, total votes received by political parties, A, 511067, AA, 2308, AAC, 1458, ADC, 17180, ADP, 2946, APC, 444815, APGA, 1475, APM, 234, APP, 114, BP, 111, NNPP, 118, PRP, 83, SDP, 155, YPP, 534, ZLP, 2482, total valid votes, 985079, rejected votes, 207, total vote cast, 1,005,800.”
Following the endorsement of the results by agents representing the participating political parties, the Returning Officer formally declared Adeleke the winner.
“That Ademola Nurudeen-Jackson Adeleke having satisfied the requirements of the law is hereby declare the winner of the August 15 Governorship election and returned elected,” Ogunwole said.
The African Democratic Congress candidate, Najeem Salaam, finished third in the election.
The result brings to a close the keenly contested governorship poll, with Adeleke retaining the governorship after defeating the APC challenger across a majority of the state’s local government areas.
General News
Lakurawa terrorist group kills 4 soldiers in deadly Sokoto attack

By Mohammadu Ahmad
At least four soldiers are feared dead following an attack by suspected Lakurawa terrorists in Kebbe, Kebbe Local Government Area of Sokoto State, on Friday.
The attackers, reportedly numbering more than 300, stormed the town on motorcycles and engaged troops in a fierce gun battle before allegedly attacking shops, vehicles and a hospital.
The heavily armed group was said to have arrived in Kebbe at about 10am, prompting soldiers deployed at a military base on the outskirts of the town to engage them.
A security expert in the state, Bashar Altine, who confirmed the incident, said four soldiers were feared to have died during the confrontation.
However, the reported casualty figure could not be independently verified as of the time of filing this report.
The spokesman for the Sokoto State Police Command, Ahmed Rufai, also confirmed that an attack occurred but said the command was still working to establish the details.
Rufai said he could not confirm reports of casualties, including the alleged deaths of the four soldiers.
Attempts to obtain confirmation from the spokesman of the 8 Division, Nigerian Army, Lt. Col. Olaniyi Osoba, were unsuccessful, as he had yet to respond to a message sent to him as of press time.
Altine said the attackers moved into the heart of Kebbe after the confrontation with the troops, particularly the Sabon Gari area, where they allegedly broke into shops and stole large quantities of mobile phones and bread.
He said the militants also attacked a military vehicle equipped with a mounted rocket-propelled grenade, damaging three tyres and breaking its windscreen.
The attackers reportedly proceeded to the General Hospital, Kebbe, where they allegedly smashed the windows of vehicles parked within the hospital premises, including the vehicle of the Divisional Police Officer and an ambulance.
“They also seized mobile phones belonging to patients at the hospital,” Altine added.
He further alleged that the terrorists took four motorcycles belonging to residents before beginning their withdrawal from the town.
According to Altine, the attackers eventually left Kebbe in the evening through the direction of the police station and proceeded towards communities west of the town.
“Reports from villages west of Kebbe indicate that they entered Ungushi town, one of the districts in Kebbe Local Government Area,” he said.
Altine said there was no confirmation that any of the attackers had been killed despite the reported gun battle with security forces.
“As of the time of writing this report, we have not seen the body of even one Lakurawa fighter that the soldiers succeeded in killing,” he said.
(PUNCH)
General News
Anambra billionaire businessman Joseph Ezeokafor (Jezco) regains freedom from kidnappers’ den

Joseph Ezeokafor
By Ogechi Eloka
Kidnapped Anambra businessman, Joseph Ezeokafor chairman of Jezco Group of Companies, popularly known as Jezco, has regained his freedom.
According to a social media Facebook post by Fred Chukwuelobe, versatile journalist and public affairs commentator, Ezeokafor was released near the boundary between Enugu and Anambra States, close to Ebenebe, near Awka. He was subsequently picked up late at night (Friday) by a family member.
Ezeokafor, the father of popular social media personality Jowi Zaza, was abducted in the early hours of Tuesday while on his way to a prayer ground in Awka, Anambra State.
His release came after days in captivity, during which his abductors reportedly established contact with his family and initially demanded a ransom of N700 million before allegedly raising the demand to N1.5 billion.
Details surrounding his release, including whether any ransom was paid and where he was released, were not immediately available as of the time of filing this report.
The development is, however, a major relief to the family, friends and associates of the businessman, whose abduction had generated widespread concern across Anambra and beyond.
Ezeokafor is the founder of Jezco Oil and Lubricants, a business he established in 1980 and subsequently expanded into other areas of manufacturing and business.
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