NIGERIA IN BRIEF: Petrol cross N1000 per litre, Ndume urge Sambisa offensive, 30 banks meet capital threshold and stories

Petrol prices cross N1000 per litre, queues resurface nationwide

Long queues have resurfaced at filling stations across Lagos where petrol is still selling below N1,000 per litre, as motorists scramble to buy cheaper fuel. A BusinessDay market survey found that many stations on the mainland and island have raised pump prices above N1,000, triggering the rush for lower-priced outlets.

Ndume urges Tinubu to launch an offensive in Sambisa, Lake Chad

Ali Ndume, the Senator representing Borno South Senatorial District, has called on Bola Ahmed Tinubu to intensify military operations against insurgents in Nigeria’s North-East, urging the Federal Government to launch coordinated clearance offensives in major terrorist strongholds including Lake Chad, Sambisa Forest, and the Mandara Mountains.

Ndume said sustained and well-coordinated military action in these areas is critical to dismantling insurgent networks and restoring lasting security across the troubled region.

CBN says 30 banks meet capital threshold, three undergoing verification 

Nigeria’s banking sector recapitalisation drive is gaining momentum, with 30 banks already meeting the new minimum capital requirements set by the Central Bank of Nigeria (CBN).

The apex bank said 33 lenders have raised fresh capital through rights issues, initial public offerings, and private placements under the programme launched in 2024, while the capital positions of the remaining banks are undergoing regulatory verification, according to a statement signed by Hakama Sidi Ali, acting director of corporate communications.

 

Anxiety amongst PDP supporters as Appeal Court delivers judgement 

Tension rose at the Court of Appeal in Abuja on Monday as rival factions of the Peoples Democratic Party (PDP) gathered ahead of a crucial judgment on the party’s disputed national convention held in Ibadan last year. The court is set to rule on nine consolidated suits challenging the legality of the November 15–16 convention and other key decisions within the party.

Suspected Lakurawa members set Kebbi police station on fire, seize ammunition

Suspected Lakurawa militants stormed a police station in Illo town, Bagudo LGA, Kebbi State, late Sunday, setting it ablaze and looting cartons of ammunition. Gunfire sent the community into panic as the attackers made a swift escape.