Ibadan – President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn after a reconciliation of records between both parties.
This is contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission and presented at the November meeting of the Federation Account Allocation Committee.
The report, titled “Report of October 2025 Revenue Collection Presented at the Federation Account Allocation Committee Meeting Held on 18th November 2025,” was obtained by The PUNCH on Sunday.
Ibadan explosion: Fayose releases documents, insists Makinde got N50bn from FG
Former Ekiti State Governor, Ayo Fayose, has released what he described as documentary evidence to support his claim that Oyo State Governor, Seyi Makinde, received N50 billion from the Federal Government as a special intervention fund following the January 2024 explosion in Ibadan.
Fayose made the documents public on Sunday in a statement accompanied by a memo from the Office of the Accountant-General of the Federation.
He said the disclosure followed a challenge by Makinde to substantiate his earlier claim that the Oyo State Government received the funds.
2027 battle: Makinde, Fayose lock horns over N30bn relief fund
Oyo State Governor Seyi Makinde on Sunday hit back at former Ekiti State governor Ayodele Fayose over claims that the Federal Government released N50bn to Oyo State as relief funds following the January 2024 explosion in Bodija, Ibadan.
In a statement issued by his Special Adviser on Media, Dr. Sulaimon Olanrewaju, Makinde clarified that while Oyo State requested N50bn, the Federal Government only released N30bn.
Fayose had sparked controversy on Friday during a TVC programme when he accused Makinde of failing to disclose that he received N50bn from the President Bola Tinubu administration to support victims of the Bodija explosion.
Fayose argued that Makinde only declined the President’s request to help organise the All Progressives Congress in Oyo State, but did not inform Nigerians about the alleged federal assistance.
Tinubu must complete eight years as president – Wike
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Sunday cautioned those he described as “emergency singers” of the slogan “On your mandate, we shall stand” to honour existing agreements, declaring that no one can deceive them with sudden displays of support for President Bola Ahmed Tinubu.
Wike stressed that agreements must be respected, noting that late political sloganeering would not erase past realities. “For us here, agreement is agreement. You can be singing ‘on your mandate we shall stand’ in support of President Bola Ahmed Tinubu, which is fine, but we have been supporting the President since 2023. Your new slogans will not help you,” he said.
Politicians scheming over N600bn in Rivers coffers –Wike
The Minister of the Federal Capital Territory, Nyesom Wike, has alleged that politicians are now scheming to get a share of the N600bn left in Rivers State coffers by the former Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd.), following the lifting of the six-month emergency rule in the state.
Wike made the allegation on Saturday evening when he met with members of the Rivers State House of Assembly at their legislative quarters along Aba Road, Port Harcourt, claiming that the disclosure of the funds had triggered the interest of politicians from within and outside the state.
According to Wike, some prominent politicians who recently visited Rivers State and met with Governor Siminalayi Fubara were not motivated by goodwill or political solidarity but by the desire to access the N600bn reportedly left behind by the Sole Administrator.
President Tinubu departs Lagos for Europe
President Bola Tinubu departed Lagos for Europe on Sunday, continuing his end-of-year break ahead of his official trip to Abu Dhabi in the United Arab Emirates.
Bayo Onanuga, Special Adviser to the President (Information & Strategy) disclosed this in a statement.
According to him, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, has invited President Tinubu to participate in the 2026 edition of Abu Dhabi Sustainability Week (ADSW 2026) Summit, which will take place in the emirate early in January.
‘Tinubu unwell’ – Sowore reveals reasons for president’s European trips
Former presidential candidate Omoyele Sowore on Sunday disclosed that President Bola Tinubu is unwell and managing his health.
Sowore also claimed that Senate President Godswill Akpabio is “practically dying.”
He made the revelation while explaining the reason for Tinubu’s abrupt trip abroad.
Tinubu, who was in Lagos State for the Christmas and New Year holiday, left Nigeria for Europe today.
A statement by Tinubu’s spokesman, Bayo Onanuga, said the president is also scheduled for an official visit to Abu Dhabi in the United Arab Emirates.
ISWAP terrorists attack Yobe communities, injure village head, loot health centre
Suspected ISWAP terrorists have carried out coordinated attacks on Ja Jibiri and Ladu villages in Yobe State, injuring a village head, abducting a driver, and looting a health facility.
The incident was disclosed in a post on X on Sunday by counter-insurgency security expert Zagazola Makama.
Makama said the attacks occurred at about 12;20 am on December 27, 2025, citing security sources.
Edun: economy remains stable despite airstrikes in Sokoto
The Federal Government yesterday said its concerted efforts and international collaboration in tackling terrorism would have no negative effect on the overall economy.
Such decisive actions, it believes, have the potential to reinforce investor confidence and economic growth.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in a statement, said the country’s security operations were designed to strengthen security rather than create uncertainty in financial or investment circles.
CBN introduces USSD code to verify licensed financial institutions
The Central Bank of Nigeria (CBN) has introduced a new Unstructured Supplementary Service Data (USSD) code to enable Nigerians to verify the authenticity of banks and other financial service providers operating in the country.
In Episode 11 of its ongoing Consumer Education Series, the apex bank announced that members of the public can now confirm whether a financial institution is licensed and regulated by the CBN by simply dialing *959#. The service provides direct access to the CBN’s official database, helping consumers guard against fraud and dealings with unlicensed operators.
According to the CBN, the initiative is part of broader efforts to strengthen consumer protection, promote financial literacy, and enhance trust in the financial system. The bank urged Nigerians to stay informed and take advantage of the platform to protect their money.
Obaseki fumes as suspected political thugs strip cousin naked
Suspected political thugs on Sunday stripped the Chief Executive Officer of Hosamudia Farm, Don Pedro Obaseki, naked in Benin City, the Edo State capital.
In a video circulating online, Obaseki, a cousin of former Governor Godwin Obaseki, was attacked while playing football at Uwa Primary School.
The assailants reportedly abducted him and took him to the Oba’s palace, forcing him to kneel at the palace gate.
The thugs told palace guards that they had brought in an “Oghion (enemy) of Oba.”
Kano people have agreed that Kwankwaso, Gov Yusuf defect to APC – Rogo
The Director-General of the Protocol Directorate of Kano State Government House, Abdullahi Rogo, has said that the citizens of the state and voters have agreed that the former governor and incumbent, Rabiu Kwankwaso, and Governor Abba Yusuf should defect to the All Progressives Congress, APC, from the New Nigeria People’s Party, NNPP.
He disclosed this in a viral video released by Arewa Update on Sunday.
According to him, the planned defection of the two political heavyweights to APC follows a meeting with the Speaker of the Kano State House of Assembly.
