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International Row Looms as 34 Embassies Risk Shutdown in Nigeria Over Ground Rent
FCTA Threatens Closure of 34 Embassies Over 11-Year Ground Rent Debt....KINDLY READ THE FULL STORY HERE▶
No fewer than 34 embassies in Abuja risk being shut down by the Federal Capital Territory Administration (FCTA) for failing to pay ground rents for over a decade.
A document obtained by The PUNCH revealed that the listed diplomatic missions have allegedly defaulted on their land use charges since 2014, accumulating a combined debt of ₦3,662,196.
On May 26, FCT Minister Nyesom Wike ordered enforcement action against 4,794 properties whose titles were revoked due to non-payment of ground rents — with some debts dating as far back as 43 years.
Meanwhile, in the financial markets, the parallel exchange rate is expected to remain under pressure due to persistent FX inflow risks and speculative demand. This could cause the gap between the official and parallel market rates to remain wide in the near term.
In May, the naira experienced a slight appreciation at the Nigerian Foreign Exchange Market, indicating stable FX supply aided by the Central Bank of Nigeria’s continued intervention. However, the naira depreciated month-on-month in the parallel market, expanding the gap between both rates from N1.69/$ in April to N24.25/$ in May.
Meristem, in its latest monthly report, noted that this marked the first significant divergence since March 2025, attributing it to sustained FX demand pressures and speculative trading amid growing global economic uncertainties.
On the corporate front, economist Bismarck Rewane highlighted positive developments, noting strong revenue and profit growth among Nigerian firms. He credited this to increased local borrowing, which has insulated businesses from exchange rate volatility typically associated with foreign-denominated loans.
According to Rewane, local companies now enjoy faster access to domestic credit for short-term financing needs, with an uptick in commercial paper issuances reflecting confidence in local funding sources. This shift has supported business expansion and bridge financing.
As a result, the private sector outlook remains optimistic. Corporations are adapting through pricing strategies, local sourcing, and digital innovation. Investor sentiment is gradually improving, buoyed by forex market reforms, clearer government policies, and early signs of macroeconomic stability.
Rewane added that investor interest is particularly strong in banking, infrastructure, and energy, although many remain cautious, monitoring the policy landscape. Portfolio investors are beginning to return, encouraged by rising yields, a more flexible exchange regime, and improved transparency from the central bank.
The 2026 Unified Tertiary Matriculation Examination (UTME) began nationwide on Thursday, with over 2.2 million candidates expected to participate across accredited centres.....KINDLY READ THE FULL STORY HERE▶
The exam, conducted by the Joint Admissions and Matriculation Board (JAMB), will run from April 16 to April 22 in multiple daily sessions.
JAMB Registrar, Prof. Is-haq Oloyede, urged examination officials to remain highly committed and professional, noting that the success of the exercise depends largely on their dedication.
He gave the charge during a virtual final briefing for technical officers ahead of the examination, where he also praised staff, ad hoc personnel, service providers, and technical advisers for their roles in the successful conduct of the mock exam.
Oloyede said many of the issues recorded during the mock exercise were due to poor assessment of centres by some technical officials.
He further stated that incentive packages would be awarded to teams that perform exceptionally, particularly in handling exam materials and submitting timely reports.
Reiterating JAMB’s zero-tolerance stance on malpractice, he warned candidates against bringing prohibited items into examination halls.
He also disclosed that biometric verification and real-time monitoring systems have been deployed to protect the integrity of the exercise.
Candidates whose biometrics cannot be verified, he added, will be rescheduled to write the exam at approved centres.
Meanwhile, a NAN correspondent monitoring proceedings at Aduvie International School, Jahi, reported that the first session scheduled for 8:30 a.m. began slightly behind schedule at about 8:40 a.m.
The Commissioner of Police for the Federal Capital Territory (FCT), CP Ahmed Muhammed Sanusi, on Thursday inspected security deployments at Joint Admissions and Matriculation Board (JAMB) Computer-Based Test (CBT) centres across Abuja.....KINDLY READ THE FULL STORY HERE▶
According to the FCT Police Command spokesperson, SP Josephine Adeh, the inspection is part of proactive measures to ensure a smooth, peaceful, and hitch-free conduct of the ongoing examinations.
The UTME is scheduled to run nationwide from April 16 to 18, 2026.
During the exercise, CP Sanusi assessed security arrangements put in place to safeguard candidates, examination officials, and CBT facilities.
He also engaged with centre supervisors, assuring them of adequate security presence throughout the examination period.
Adeh added that the CP reaffirmed the command’s commitment to maintaining law and order, warning that any attempt to disrupt the examinations would be met with decisive action in line with the law.
Over 700 former terrorists who have undergone deradicalisation and rehabilitation are set to be reintegrated into their communities.....KINDLY READ THE FULL STORY HERE▶
The Nigerian military has also dismissed reports alleging that beneficiaries of Operation Safe Corridor are being recruited into military institutions.
According to African Independent Television, the Coordinator of Operation Safe Corridor, Brigadier-General Yusuf Ali, made this known during a media tour of the Deradicalisation, Rehabilitation and Reintegration Centre in Gombe, North-East Nigeria.
He said many Nigerians still misunderstand the Federal Government’s structured counter-terrorism initiative, which is designed to restore peace in communities affected by insurgency.
Brigadier-General Ali explained that the programme focuses on rehabilitation and peaceful reintegration of repentant individuals into society.
During the tour, some of the participants also shared accounts of their involvement in offences that led to their admission into the programme.
The facility inspection was part of preparations for the graduation of over 700 clients who have completed the deradicalisation and rehabilitation process and are set for reintegration.
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