March 2026 – Page 138

Banks’ Letter Of Credit Payments Down 9.15% To $793.18m

17.03.2026

The amount used by deposit money banks (DMBs) in the country in settling Letter of Credit (LC) fell by 9.15 per cent, or $79.90 million, to $793.18 million in 2025, compared with $873.07 million in the preceding year, according to the Central Bank of Nigeria’s (CBN) latest data on international payments. New Telegraph’s analysis of...

How Malami’s Wife Wired Funds Via Hotel’s Account –Witness

17.03.2026

The trial of the immediate past Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), on money laundering charges continued before the Federal High Court in Abuja yesterday, as a bank official revealed how funds were repeatedly wired to the defendant through the bank account of a hotel. The witness, Mr Daniel...

Lawmaker Rejects Fayose’s Alleged Consensus Endorsement

17.03.2026

A member of the Ekiti State House of Assembly representing Irepodun-Ifelodun Constituency II, Hakeem Jamiu, has rejected claims that he endorsed Boluwatife Fayose as the consensus candidate for the constituency’s House of Assembly seat. Jamiu made the clarification following reports circulating on line that he was among stakeholders who backed Fayose during a constituency meeting...

Fani-Kayode Slams El-Rufai Over Rights Abuses, AIT Shutdown

17.03.2026

Former Minister of Aviation, Femi Fani-Kayode, has criticised the human rights record of former Kaduna State Governor, Nasir El-Rufai, particularly during his tenure as Minister of the Federal Capital Territory (FCT). Fani-Kayode alleged that ElRufai attempted to shut down African Independent Television (AIT), owned by the late media entrepreneur Raymond Dokpesi, and seize the land...

Probe Begins After Kaduna-Abuja Train Accident Injures Many

17.03.2026

The Nigerian Railway Corporation and the Nigerian Safety Investigation Bureau have confirmed that a train operating on the Kaduna-Abuja rail corridor was involved in an accident on Monday, leaving several passengers injured. The incident occurred near the Asham section of the rail line in Kaduna State while the train was travelling from Rigasa Station in...

Nigerian ports reform drives maritime revival and trade

17.03.2026

Years of congestion, outdated infrastructure, and bureaucratic delays have long hindered Nigeria’s ports, but ongoing infrastructure upgrades and digital trade reforms are beginning to reshape maritime operations, ARINZE NWAFOR writes Nigeria’s maritime sector, which handles more than 80 per cent of the country’s international trade, is currently undergoing a series of reforms aimed at improving...

Nigerian Artists Earn N60bn from Spotify Streams in 2025

17.03.2026

Nigerian musicians earned more than N60bn from Spotify in 2025, highlighting the country’s rapidly expanding music streaming market and the growing global reach of its artists, according to the platform’s latest data. The figures were disclosed in Spotify’s annual Loud & Clear report, which examines how artists generate income from streams and how listeners engage...

A power reset to unlock 1,600MW capacity

17.03.2026

Nigeria’s electricity sector faces a persistent shortage of reliable power, affecting homes and businesses. To address this, the Federal Government is proposing the Grid Asset Management Company Limited, a commercial vehicle, to unlock stranded generation capacity and strengthen transmission infrastructure. LAOLU AFOLABI examines the rationale, expectations, and potential impact of the proposal. For decades, Nigeria’s...

FG Warns Against Unauthorised Public Video Sharing

17.03.2026

The Federal Government has warned social media users and content creators about the unauthorised capture and sharing of images and videos of the general public, signalling that violations could attract legal sanctions. The Nigeria Data Protection Commission, acting on behalf of the FG, raised concerns about individuals who record unsuspecting members of the public, particularly...

Togo to Increase Electricity Imports from Nigeria’s NDPHC

17.03.2026

The Republic of Togo has expressed interest in increasing its electricity purchases from Nigeria’s Niger Delta Power Holding Company to meet rising demand and extend reliable electricity supply to newly connected customers nationwide. The request was made during a strategic meeting between the management of the Niger Delta Power Holding Company and a delegation from...