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  • What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    The Central Bank of Nigeria (CBN) has upgraded the operating licences of several leading financial technology firms and microfinance banks (MFBs) to national status, allowing them to operate fully across all States of the Federation.

     Director of the Other Financial Institutions Supervision Department at the CBN, Yemi Solaja, announced this during the annual Committee of Heads of Banks’ Operations (CHBOs) conference held in Lagos.

    Solaja explained that the licence upgrade is not automatic, noting that affected institutions were required to meet specific regulatory, compliance and operational benchmarks before qualifying.

    He said many digital lenders and payment service providers had expanded their operations beyond the limits of their original licences, prompting the regulator to formally update their authorisations to reflect their nationwide reach.

    Under the revised framework, major players including Moniepoint Microfinance Bank, OPay, Kuda Bank and other fintechs now hold national licences, granting them approval to operate across Nigeria rather than within restricted regions.

    The CBN said the move is aimed at strengthening regulatory oversight of fast-growing fintech operators while sustaining momentum in the expansion of financial inclusion nationwide.

    Here are things to know about the CBN’s National Licence Upgrade:

    1. Nationwide operations now permitted

    The national licence allows fintechs and microfinance banks to operate legally across all states, removing previous regional or state-level restrictions.

    Read Also: CBN calls for inclusive cash, digital payments system

    2. Stronger regulatory oversight

    The upgrade closes a regulatory gap by bringing fast-growing fintechs fully under CBN supervision, with tighter monitoring of operations nationwide.

    3. Higher capital and compliance standards

    National microfinance banks must now maintain a minimum capital base of about ₦5 billion, alongside stricter reporting, governance and risk-management requirements.

    4. Physical presence is mandatory

    Licensed institutions are required to establish physical branches or service centres in key locations, improving access for customers who need in-person support.

    5. Improved consumer protection and dispute resolution

    Expanded oversight and physical outlets are expected to enhance complaint handling, transaction reversals and customer redress mechanisms.

    6. Fintechs remain distinct from commercial banks

    Despite the upgrade, fintechs and MFBs are not deposit money banks and are still limited to services permitted under their licence categories.

    7. Agent banking networks will expand

    Nationwide approval enables firms to scale agent networks across Nigeria, boosting access to cash-in, cash-out and payment services, especially in underserved areas.

    8. Boost for financial inclusion and rural economies

    The move supports the CBN’s cashless and financial inclusion agenda, improving access to digital payments, savings and credit for rural communities and informal workers.

    9. Rising operational costs for operators

    Maintaining nationwide infrastructure, compliance teams and physical outlets is expected to increase operating expenses for affected firms.

    10. Pressure on smaller fintechs

    Higher capital and compliance demands may strain smaller players, potentially leading to mergers or market consolidation.

    11. Greater focus on data protection and cybersecurity

    As operations scale nationally, regulators are expected to intensify scrutiny of data privacy, cybersecurity and customer information protection.

    12. Increased competition for traditional banks

    Commercial banks may face stiffer competition in retail payments and SME services, particularly where fintech agents are more accessible than bank branches.

    13. Stricter penalties for regulatory breaches

    National licence holders face tougher sanctions for violations, including fines, operational restrictions or licence withdrawal.

    14. Higher transparency expectations

    The CBN will require more frequent disclosures, audits and performance reports to monitor financial stability risks.

    15. Potential boost to investor confidence

    National regulatory approval may strengthen investor trust in Nigeria’s fintech sector and attract additional local and foreign investment.

  • Federal Fire Service saves 55 lives, N8.7bn property in Kano

    Federal Fire Service saves 55 lives, N8.7bn property in Kano

     The Federal Fire Service (FFS), says it has saved 55 lives and property worth N8.7 billion from 433 incidents in the last one year in Kano State.

    Kazeem Sholadoye, the Command’s Controller in the state, said this in a statement by the service’s Public Relations Officer, Al-Hassan Kantin, on Tuesday in Kano.

    He said that 19 persons lost their lives due to fire outbreaks, road accidents among others while property worth N263 million destroyed by the fire in 2025.

    Sholadoye said the service responded to 21 emergency calls and 107 false alarms within the period under review.

    The controller urged residents of the state to handle fire with care and switch off electrical appliances before going out to prevent unforeseen circumstances.

    (NAN)

  • Nigeria, UAE jointly waive off tariffs on some products

    Nigeria, UAE jointly waive off tariffs on some products

    Federal Government signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) to remove tariffs on some products.

    Rep. Sam Onuigbo a member of the Governing Board of the North East Development Commission in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday said that the game changer in Abu Dhabi was CEPA which Nigeria signed with UAE at the Abu Dhabi Sustainability Week which took place from Jan. 11–15.

    NAN reports that Onuigbo was a member of the House of Representatives of Nigeria who represented Ikwuano/Umuahia North and South Federal Constituency and served as Chairman of the Committee of Climate Change in the House of Representatives of Nigeria during the 8th Assembly.

    “The CEPA signed in January 2026, the UAE will eliminate tariffs on 7,315 Nigerian products. This includes immediate duty-free access for 2,805 products (38.3 per cent), with the remainder phased out over three to five years, covering agricultural and industrial goods.

    “Similarly, under the Nigeria/UAE CEPA also signed in January 2026, Nigeria has eliminated tariffs on 6,243 products imported from UAE. That agreement creates these wonderful opportunities between Nigerians, the Emirates,” he said.

    Read Also: Nigeria, UAE to partner on $400b commodities sector

    Onuigbo said that the agreement is massive and would facilitate an environment for business persons in Nigeria, who have businesses that are verifiable, identifiable, to go over there and open offices also to work there for three months and come back.

    He commended President Bola Tinubu for the agreement, saying that the agreement was geared and targeted towards how to reposition Nigeria, create the enabling environment for employment, and of course make everybody happy.

    “Nigeria is ready for business. Nigeria’s carbon market framework policy was unveiled again there in Abu Dhabi

    Nigeria is a nation of nearly 250 million people and has had, over the years, the challenge of enough energy or power to be able to attain its economic and industrialisation targets.

    “And because of that, Nigeria has been engaging in different activities, for instance, the Energy Transition Plan, enactment of the Climate Change Act, the Electricity Act which the President signed barely eight days after he assumed office in 2023.

    “This shows the importance of addressing the energy gap having enough energy, electricity is a fundamental point to developing industrially which nigeria deems necessary.

    Onuigbo lauded Nigeria’s participation at the Abu Dhabi summit saying that the summit would further enable global economic opportunity for people to work together within Nigeria and UAE.

    He added that the President’s collaboration would address the challenges and devastating effects of climate change as well as to build up Nigeria’s economy in 2026.

    (NAN)

  • Troops rescue 11 kidnapped victims in Kaduna

    Troops rescue 11 kidnapped victims in Kaduna

    Troops of the Nigerian Army have rescued 11 kidnapped victims in Kachia Local Government Area of Kaduna State following a swift operation along the Kaduna–Abuja road.

    A military source told the News Agency of Nigeria (NAN) on Tuesday that the operation was carried out on Monday night after troops deployed at Forward Operating Base (FOB) Doka detected suspicious movement with the aid of a long-range CCTV camera mounted in the area.

    The source said the troops sighted armed terrorists moving through the bush along the Gidan Duna–Amale axis with kidnapped victims and immediately mobilised in pursuit.

    “On sighting the approaching troops, vehicles and motorcycles, the terrorists abandoned the victims and fled into the bush.

    “The troops secured the area and fired probing shots to forestall any possible counterattack, but no further contact was made,” he said.

    The source disclosed that a total of 11 victims were rescued, comprising five adult males, three females and three children.

    He added that the victims revealed they were abducted from Gada Mallam Maman community in Kachia LGA on Oct. 26, 2025.

    He added that the rescued persons were later conveyed back to their community, where they were reunited with their families.

    The military source reaffirmed the commitment of the Nigerian Army to sustained operations aimed at degrading criminal elements and ensuring the safety of lives and property along major routes and communities.

    (NAN)

  • Man City vs. Galatasaray: Osimhen’s Turkish giants chase historic 250th  UCL goal

    Man City vs. Galatasaray: Osimhen’s Turkish giants chase historic 250th  UCL goal

    Turkish giants Galatasaray will be chasing a historic milestone when they visit Manchester City for their Matchday 8 fixture tomorrow at the Etihad Stadium—aiming to become the first Turkish club to reach 250 goals in UEFA Champions League history.

    Both sides will be fighting for three crucial points to bolster their position in the revamped 36-team league phase. Manchester City currently sit 11th with 13 points from seven matches, while Galatasaray occupy 17th place with the same number of games played.

    Under the new Champions League format, teams finishing in the top eight automatically qualify for the Round of 16, while those placing ninth to 24th must compete in a two-legged knockout playoff. Sides finishing 25th  or lower face elimination without dropping into the Europa League—making tomorrow’s clash vital for both teams.

    Manchester City’s only previous UEFA competition encounter with a Turkish club came against Fenerbahce in the first round of the 1968/69 European Cup, with the Istanbul side winning 2-1 on aggregate. Meanwhile, Galatasaray carry an impressive unbeaten record against English opposition in their last four UEFA matches, with three wins and a draw.

    Read Also: NFF  urges  Super Eagles to shine  at Morocco 2025

    Needing just two goals to reach the 250-goal milestone, tomorrow’s match presents an intriguing opportunity for Galatasaray’s talismanic Nigerian striker Victor Osimhen. The danger man for Okan Buruk’s side recently registered his 50th  goal for the club during the weekend’s 3-1 league victory over Fatih Karagumruk and has already netted six times in this Champions League campaign.

    Galatasaray will be strengthened by two former Manchester City stalwarts. Midfielder İlkay Gündoğan, who scored 65 goals in 358 appearances for City and captained the club to their sole Champions League triumph in 2022/23, will face his former employers.  Just  as well as  midfielder Leroy Sané also played under Pep Guardiola at City, scoring 39 times in 135 matches.

    UCL FIXTURES

    Ajax vs Olympiakos

    Arsenal vs. Kairat

    Athletic vs. Sporting

    Atletico vs Bodø / Glimt

    Barcelona vs. Copenhagen

    Leverkusen vs. Villarreal

    Benfica vs. Real Madrid

    Dortmund vs. Inter

    Brugge vs. Marseille

    Frankfurt vs. Tottenham

    Liverpool vs. Qarabağ

    Man City vs. Galatasaray

    Monaco vs. Juventus

    Napoli vs. Chelsea

    PSV vs. Bayern

    Pafos vs. Slavia Prague

    PSG  vs. Newcastle

    Saint-Gilloise vs. Atalanta

  • Super Falcons to grace WAFU B  tourney ahead of WAFCON

    Super Falcons to grace WAFU B  tourney ahead of WAFCON

    Five Nigerians listed in IFFHS Women’s Africa XI

    The Nigeria Football Federation (NFF) has entered the Super Falcons for the WAFU B Four-Nation Tournament in Abidjan as part of preparations for the 2026 Women’s Africa Cup of Nations (WAFCON) in Morocco.

    The preparatory tournament will take place in Côte d’Ivoire between February 27  and March 7 ahead of WAFCON scheduled for March 17 to April 3.

    NFF Director of Competitions, Ruth David, confirmed Nigeria’s participation, describing it as a crucial step in ensuring the reigning African champions are fully prepared for the continental showpiece.

    According to her, the WAFU B Secretariat has invited Côte d’Ivoire, Ghana, Nigeria and Senegal — all WAFCON participants — for the mini-tournament. She added that the Super Falcons’ squad list submitted by head coach Justin Madugu will be released in the coming days through official channels.

    In a related development,  five Super Falcons stars  have been nominated  into the IFFHS Women’s Africa XI for 2025.

    Read Also: Super Eagles: NFF  demands compensation from Airtel over ambush marketing

    Goalkeeper Chiamaka Nnadozie, defenders Michelle Alozie and Ashleigh Plumptre, and midfielders Christy Ucheibe and Rasheedat Ajibade were all named in the team released by the International Federation of Football History and Statistics (IFFHS).

    Nnadozie’s inclusion reflects her consistency and authority at both club and international level, with standout performances in Europe enhancing her reputation as one of Africa’s top goalkeepers.

    Alozie and Plumptre anchor a solid defence, while Ucheibe and Ajibade provide balance, energy and creativity in midfield. Morocco’s Ghizlane Chebbak, Zambia’s Barbra Banda and Malawi’s Temwa Chawinga complete a star-studded XI.

    The IFFHS explained that the selection is a projection based on form, consistency and statistical analysis rather than a retrospective award, highlighting Nigeria’s continued leadership in African women’s football.

  • Poland 2026: Aduku expresses confidence as Falconets gear up for Senegal clash

    Poland 2026: Aduku expresses confidence as Falconets gear up for Senegal clash

    Head Coach Moses Aduku has expressed satisfaction with the progress of the Nigeria U20 girls, Falconets, as the two-time FIFA World Cup silver-medallists continue preparations for the third-round FIFA U20 Women’s World Cup qualifying fixture against Senegal.

    The past weeks spent in camp have been productive, with all invited players fully present and responding positively to training. The technical crew has focused on tactical organization, team cohesion, and overall strategy, and the players have demonstrated commitment, discipline, and intensity throughout preparations.

    Aduku emphasized that attention remains firmly on the upcoming qualifier, stressing the importance of securing a strong result in the first leg on home soil. Friendly matches have been vital in assessing and refining the team’s system of play, with focus on strengthening attacking play while maintaining defensive balance. He described performances so far as encouraging.

    Read Also: Mikel berates  NFF on Super Eagles’ preps for AFCON 2025

    Nigeria will host the first leg of the fixture at the Lekan Salami Stadium, Ibadan, on Saturday, 7th  February, with the return leg scheduled for Saturday, 14th  February in Dakar, Senegal.

    The Falconets, who also reached the semi -finals of the FIFA World Cup in Japan 14 years ago, will travel to Ibadan on 27th January to continue their preparations ahead of the fixture. While refraining from bold predictions, Coach Aduku expressed belief in the quality and mentality of the players, citing their competitive displays in recent friendly matches. He concluded by re-affirming the team’s determination to make the nation proud and secure qualification.

    The winner of the Nigeria/Senegal fixture will go into the last round of the qualifying series, to confront the winner of the Guinea Bissau/Malawi fixture, for one of Africa’s four tickets at the final tournament.

    The 12th edition of the FIFA U20 Women’s World Cup finals will be staged in Poland between  September  5th and 27th.

  • ITTF World Championships: Nigeria draw ‘old enemy’ South Africa, Saudi, Hong Kong

    ITTF World Championships: Nigeria draw ‘old enemy’ South Africa, Saudi, Hong Kong

    Nigeria has been drawn alongside Hong Kong, Saudi Arabia, and South Africa in Group 15 of the ITTF World Team Table Tennis Championships Finals, set to take place in London between April 28  and May 10.

    The draw, held  at The Shard, marked the beginning of a historic celebration of 100 years of the World Championships.

     “From London to London, we have come full circle,” ITTF President Petra Sörling said yesterday. “England has hosted the World Championships on seven occasions, but returning to where it all began makes this centenary edition truly special. This event is already historic, but I am confident it will also be unforgettable.”

    The Quadri Aruna-led men’s team will face tough opposition from Asian giants Hong Kong, who boast some of the finest young players in the world, as well as Middle Eastern powerhouse Saudi Arabia and continental rivals South Africa.

    In the women’s category, Fatimo Bello will captain Nigeria in Group 11, where they will battle against Australia, Uzbekistan, and Wales.

    African champions Egypt, led by Omar Assar, received a favourable draw in the men’s event, facing Kazakhstan, Turkey, and Thailand.

    Read Also: W’Cup 2026: NFF begs Tinubu, Nigerians over  Super Eagles’ setback

    Rising star Hana Goda will lead Egypt’s women’s team against Algeria, South Africa, and Syria.

    Reigning champions China, winners of the last 11 editions, headline Group 1 alongside host nation England, five-time winners Sweden, and Korea Republic. France, silver medallists at the last edition, will face Japan, Germany, and Chinese Taipei in Group 2 as they bid to lift the Swaythling Cup for the first time.

    In the women’s competition, hosts England were drawn in Group 2 with Japan, Germany, and France, while China, 23-time Corbillon Cup winners, lead Group 1 against Korea Republic, Chinese Taipei, and Romania.

    The draw ceremony was attended by ITTF President and IOC Member Petra Sörling, ITTF Executive Vice President Beatrice Romanescu, World Table Tennis CEO Steve Dainton, Chair of Table Tennis International Events Richard Scruton, Table Tennis England Chair Clare Briegal MBE, Table Tennis England President and World Championship medallist Jill Parker MBE, England men’s athlete and three-time Olympian Paul Drinkhall, ITTF Nominations Committee Chair Sandra Deaton, and UK Sport Deputy Director Esther Britten MBE.

    The top eight seeds in each competition will contest Stage 1a at OVO Arena Wembley from May 2–3, with all teams progressing to Stage 2. Group performances will determine seeding for the knockout rounds. Stage 1b will take place at the Copper Box Arena from April 28–May 1, where 56 teams in each competition will battle for the remaining 24 places in the Main Draw.

    London 2026 marks 100 years since the first World Championships were held in the city in 1926, making this the most significant edition in the event’s history.

  • Court orders substituted service in contempt case

    Court orders substituted service in contempt case

    The Federal High Court in Lagos has ordered that the Inspector-General of Police (IGP) Kayode Egbetokun be served with Forms 48 and 49, directing him to show cause why an order of committal should not be made against him for alleged disobedience of a court order.

    Justice Alexander Owoeye ruled that the contempt processes, including Forms 48 and 49, be served on the IGP by substituted service through the Commissioner of Police, Legal Department, Nigeria Police Force Headquarters, Abuja.

    The order followed the grant of an ex-parte motion filed by a businesswoman, Mrs. Mabel Alabijah Hussein, through her counsel, Kola Sodiya.

    The application alleged a breach of an earlier court order directing all parties to maintain the status quo pending the hearing and determination of a suit she filed against the IGP and others, marked FHC/L/CS/1468/2025.

    Also joined as respondents in the suit are the Deputy Inspector-General of Police, Force CID, Area 10, Abuja; the Assistant Inspector General of Police, Force CID Annex, Alagbon, Ikoyi, Lagos; the Assistant Inspector General of Police, Zone 2, Onikan; CSP P. Bolugi; Inspector Aba Yomi Michael; the Economic and Financial Crimes Commission (EFCC); Adedeji Adesiyan; and Citadel Views Gardens and Estates Ltd., listed as the second to ninth respondents.

    The application arose from the alleged disobedience of an earlier order made on October 9, 2025, in which the court restrained all the respondents from taking further steps in connection with the suit and directed them to maintain the status quo pending the hearing and final determination of the applicant’s fundamental rights application.

    READ ALSO: ‘Nigeria has not recovered from military rule’

    In her ex parte motion, the applicant sought leave to serve Form 48 dated January 6, 2026, Form 49, and all other processes relating to the contempt proceedings on the IGP by substituted means, through the Commissioner of Police, Legal Department, at the Nigeria Police Force Headquarters, Louis Edet House, Area 11, Garki, Abuja.

    The applicant alleged that the IGP, the eighth respondent, and the Divisional Police Officer (DPO) of Ogombo Police Station, Eti-Osa Local Government Area of Lagos State, disobeyed the subsisting court order by failing to maintain the status quo.

    She alleged that they took further steps in the matter by making attempts to arrest her and her eight-year-old daughter on December 16, 2025, contrary to the court’s order restraining such actions pending the determination of the suit.

    She further claimed that, despite the restraining order issued on October 9, 2025, the eighth respondent continued to instigate police officers to harass, investigate, and attempt to arrest her.

    As a result, she said she and her daughter had been living in fear and had gone into hiding since December 16, 2025, following repeated police visits and invitations.

    The applicant also alleged that the DPO of Ogombo Police Station, who invited her for questioning on December 16, 2025, acted under the authority and direction of the IGP.

    She further claimed that efforts were being made to arrest her with the intention of taking her daughter away and handing the child over to the eighth respondent.

    After hearing the submissions of the applicant’s counsel and reviewing the processes before the court, Justice Owoeye granted the application.

    Ruling, the judge held that the applicant was entitled to serve the contempt processes by substituted means.

    He ordered that Form 48 dated January 6, 2026, Form 49, and all other processes relating to the contempt proceedings be served on the IGP through the Commissioner of Police, Legal Department, Nigeria Police Force Headquarters, Abuja.

    The matter was adjourned to March 10 for a report of service.

  • Teacher jailed for life for sexual assault of pupil

    Teacher jailed for life for sexual assault of pupil

    By Olamide Olakanse

    Justice Rahman Oshodi of an Ikeja Sexual Offences and Domestic Violence Court has sentenced  a teacher, David Oddion a Social Studies teacher at a private school, to life imprisonment for the sexual assault of an eight-year-old student (names withheld).

     Justice Oshodi convicted Oddion of a two-count charge offence brought against him by the state.

    The convict was sentenced for life for sexual assault by penetration and  got a seven-year sentence for the indecent treatment of a child. 

    The judge said both sentences are to run concurrently starting from the date of his arrest on February 8, 2021.

    The judge also ordered that the convict’s name be written in the Lagos State Sexual Offenders Register.

    The incident, which happened at Hilltop Grade International School (HGIS), Agungi Road, Lekki, Lagos  came into the open when the victim, a Grade 3 pupil, informed her mother, that her teacher was “weird.”

    Upon further questioning, the child revealed a pattern of abuse, stating that the defendant had touched her private parts more than 10  times.

    READ ALSO: Accord, APC, ADC ready for battle

    The incident led  to the arrest of the convict who was a Social Studies teacher in the school,  by the police.

    During trial, the court heard that Oddion had set aside the exam scripts of five students who failed, calling them into his classroom one by one for corrections.

    The court heard that the  victim was the third student called and that after the other students had gone home, the defendant remained alone with the victim, during which time point he penetrated her with his finger.

     The court heard that the convict  removed her underwear, touched her, kissed her on the forehead and cheeks, and hugged her before her mother arrived to pick her  up at about  3:00 pm.

     Following the child’s disclosure, her mother confronted the school’s  head teacher, Mrs. Linda.

    The court heard that  the defendant initially denied the allegations, but his account was inconsistent.

    After the school head advised him that only the truth would set him free, the convict confessed to the acts.

    The court was told that this led to his immediate arrest and a subsequent medical examination of the survivor at a private hospital by Dr. Makanjuola, who also testified as a witness in the matter.

     During the trial, the prosecution team, I.E. Sholarin, S.O. Adesina, and I.E. Balogun, argued that the evidence against the defendant was overwhelming.

    Delivering  judgment in the matter, Justice Oshodi noted that the prosecution had proved its case beyond a reasonable doubt.

    The judge remarked on the defendant’s position as a mentor and trainer, stating that parents entrust their children to teachers and that such a gross violation of trust was unacceptable. The judge also observed that the defendant had shown no remorse throughout the proceedings.

    The defense counsel, H.O. Ndubuisi, pleaded with the court to temper justice with mercy, noting that the defendant was a student at an Open University and a first-time offender.

    However, Justice Oshodi maintained that the law must take its course to serve as a deterrent to others and subsequently sentenced him to life imprisonment.