Compilations of top 10 key latest happenings that you need to know this Wednesday morning, 10th December, 2025
Governors vs NNPC: Tension rise over alleged $42bn oil revenue shortfall
A renewed clash has emerged between the Nigerian National Petroleum Company Limited and Periscope Consulting, the audit firm hired by the Nigeria Governors’ Forum to examine an alleged under remittance of oil revenue totalling $42.37bn (about N12.91tn) to the Federation Account between 2011 and 2017.
The dispute, revived by fresh submissions from both sides, has forced the Federation Account Allocation Committee to mandate a joint reconciliation session to determine the true state of remittances and resolve the long-running impasse.
This was disclosed in the Federation Account Allocation Committee’s post-mortem review for November 2025, which detailed fresh exchanges between both parties over the alleged unremitted fund. The document was obtained by our correspondent on Tuesday.
A renewed clash has emerged between the Nigerian National Petroleum Company Limited and Periscope Consulting, the audit firm hired by the Nigeria Governors’ Forum to examine an alleged under remittance of oil revenue totalling $42.37bn (about N12.91tn) to the Federation Account between 2011 and 2017.
The dispute, revived by fresh submissions from both sides, has forced the Federation Account Allocation Committee to mandate a joint reconciliation session to determine the true state of remittances and resolve the long-running impasse.
PDP attacks APC over Fubara’s defection
The Peoples Democratic Party on Tuesday blasted the All Progressives Congress over the defection of Rivers State Governor, Siminalayi Fubara, accusing the ruling party of orchestrating the political crisis that pushed Fubara out of the PDP.
Reactions emerged from both the state and national levels of the opposition party, with leaders insisting that Fubara’s exit neither weakened the PDP nor altered its structure in Rivers State.
On Tuesday, Fubara officially announced his defection from the PDP to the APC.
Fubara joined Delta State Governor, Sheriff Oborevwori; Akwa Ibom State Governor, Umo Eno; Enugu State Governor, Peter Mbah; and his Bayelsa counterpart, Duoye Siri, all of whom defected from the opposition PDP.
With Fubara’s official declaration, all six states in the South-South – Edo, Bayelsa, Akwa Ibom, Rivers, Delta and Cross River – are governed by the APC.
Fubara, speaking during an emergency stakeholders meeting at the Government House, Port Harcourt, on Tuesday, said he left his former party for two reasons:
First, that the main opposition party could not protect him, and second, that he is still being addressed as “His Excellency, the Governor,” rather than “former governor,” because of President Bola Tinubu.
At the meeting held 24 hours after visiting the Presidential villa, Abuja, Fubara said his defection was in the interest of the state.
Abuja man planning to buy ammunition for bandits arrested
The Federal Capital Territory Police Command has arrested a 32-year-old man, Ahmed Abubakar, for allegedly attempting to procure ammunition for bandits operating in Zamfara State.
Abubakar, reportedly from Gusau but residing in Anguwan Dodo, Gwagwalada, was picked up by operatives of the Mabushi Division on December 7, following what the police described as credible intelligence.
Security expert Zagazola Makama, in a post on X on Tuesday, stated that the suspect had allegedly contacted a serving soldier, Corporal Yusuf Mohammed, to help him source 1,000 rounds of ammunition, purportedly for bandit groups in Zamfara, in exchange for a cash reward.“
The Federal Capital Territory Police Command has arrested a 32-year-old man suspected of attempting to procure ammunition for bandits operating in Zamfara State.
Sources told Zagazola Makama that the suspect, identified as Ahmed Abubakar of Gusau, Zamfara State, and currently residing at Anguwan Dodo, Gwagwalada, was arrested on December 7 at about 3:30pm by operatives of the Mabushi Division following credible intelligence.
Soyinka decries Seyi Tinubu’s ‘excessive’ security escort
Professor Wole Soyinka says President Bola Tinubu must be cautious about his approach to regional security, domestic governance, and the use of state protection for privileged individuals.
The nobel laureate said this at the 20th Wole Soyinka Centre for Investigative Journalism Awards in Lagos on Tuesday.
All these were captured in a now viral four-minute, 25-second video shared on Tuesday night by #Nigeriastories on X.
Soyinka had recounted an encounter which he described as recent in his hotel room in Ikoyi, Lagos State, that left him shocked at what he considered an extravagant display of state securit
He said was “sufficient to take over a small country.”
Soyinka revealed that the young man turned out to be Seyi Tinubu, the President’s son.
US congressman visits Benue, seeks global attention to IDP crisis
United States Congressman, Riley Moore, on Wednesday shared accounts of violence against Christian communities in Benue State, recounting what he said he was told during a visit to camps for internally displaced persons.
Writing on X, Moore said, while in Benue, he met “dozens of Christians who were driven from their homes and subjected to horrific violence and now live in IDP camps.”
According to the congressman, those he spoke with described attacks that left entire families dead and forced survivors to flee their villages.
“They told harrowing stories that will remain with me for the rest of my life,” Moore wrote.
He cited the case of one woman who, he said, “was forced to watch as they killed her husband and five children. She and her unborn child barely escaped.
Osun gov poll: Why I joined Accord Party — Adeleke
LESS than 24 hours to the governorship primary of the Accord Party, AP, in Osun State, Governor Ademola Adeleke, yesterday, officially joined the party
It would be recalled that Governor Adeleke resigned from the Peoples Democratic Party, PDP, on December 1.
However, the governor, yesterday, joined Accord Party to contest the election in 2026.
The governor’s spokesperson, Mr Olawale Rasheed, in a statement, disclosed that Accord Party is the new political platform, where the Governor intends to seek a second term.
The announcement was made at the Banquet hall of the Government House in the presence of national and state leaders of the Accord Party.
Governor Adeleke explained that his decision to join the party was done after due consultations.
He said: “I joined the Accord Party more than a month ago, precisely November 6, as a platform to seek re-election in 2026.
This was after weeks of consultation and deliberations with stakeholders and opinion leaders.
“We opted for the Accord Party because its mission of welfarism aligns with our passionate focus on citizens and workers’ welfare.
Dollar to Naira exchange rate today, December 10, 2025
The exchange rate between the Naira and the US Dollar remained relatively stable across both the official and parallel markets on Wednesday, December 10, 2025, as the market continues to react to the Central Bank of Nigeria’s (CBN) recent structural overhaul of the Bureau de Change (BDC) segment.
NFEM (Official) RateData from the Nigerian Foreign Exchange Market (NFEM), also known as the official window, shows the Naira trading at approximately ₦1,452.16 per Dollar today.
The currency opened the day’s trading session at roughly ₦1,451.30, reflecting a slight intraday depreciation of less than 0.1%.
Throughout the week, the official rate has hovered within a tight band, with the CBN reporting a closing rate of ₦1,454.00 earlier in the week on Monday, December 8.
The market has seen a “High” of around ₦1,457.00 and a “Low” of ₦1,450.25 in recent sessions, signaling improved liquidity and reduced volatility compared to previous quarters.
CBN revamps agric guarantee scheme, targets smallholder farmers
The Central Bank of Nigeria (CBN) has launched a major overhaul of the Agricultural Credit Guarantee Scheme Fund (ACGSF), unveiling a new strategic direction aimed at expanding credit access to smallholder farmers and accelerating national food security efforts.
Speaking in Abuja at the inauguration of the reconstituted ACGSF Board, CBN Governor, Mr. Olayemi Cardoso, described the revamp as “a new dawn” for agricultural financing.
He said the initiative reflects the Federal Government’s renewed commitment to reposition agriculture as a driver of inclusive growth, rural development, and economic diversification.
Cardoso noted that the ACGSF-established in 1977-remains one of the country’s most impactful development finance tools.
Yet, despite employing nearly two-thirds of Nigeria’s labour force and contributing over 20 per cent to GDP, the agric sector continues to receive less than five per cent of total bank credit.
This structural mismatch, he said, has stunted the potential of millions of farmers for decades.
Senate probes utilisation of ₦15bn Safe Schools Fund, queries police’s ₦6.2bn allocation
The Senate has raised serious concerns over the utilisation of funds released to agencies implementing the Safe Schools Initiative (SSI), particularly the Nigerian Police Force, which received the largest single allocation of ₦6.225 billion from the ₦15 billion disbursed in 2023.
The concerns were disclosed by Senator Orji Uzor Kalu (APC, Abia North), chairman of the Senate Ad-hoc Committee investigating the implementation of the programme, following the committee’s grilling of the National Coordinator, Financing Safe Schools in Nigeria, Hajia Halima Iliya.
The committee queried reports of financial irregularities and questionable consultancy spending in the multi-agency security programme designed to protect schools from terrorist attacks and mass abductions.
Kalu ordered a full reconciliation of all financial records and directed the Safe Schools Financing Office to return with a comprehensive and rectified breakdown of all funds released, expenditures made, names and details of contractors, and complete documentation from the Central Bank of Nigeria (CBN) Trust Fund account.
He stressed that the committee would not proceed without clear and verifiable record
“Na so Christmas shopping take set for my family and me” – Nkechi Blessing in awe as she hails Toyin Abraham over her grand movie premiere invite
Nollywood actress Nkechi Blessing has hailed her senior colleague, Toyin Abraham, over her grand movie premiere event.
Kemi Filani reported that the filmmaker, who is gearing up for the premiere of her movie this weekend, had rolled out the invite for the premiere.
Making things different, Toyin had given out foodstuffs rather than using the invitation box.
Sharing a video of the food items the movie star gave her, Nkechi said Abraham has relieved her of Christmas shopping.
“Over sabi aunty for a reason, cus WHAT? Egbami ooooo @toyin_abraham is it a mistake? Na so Christmas shopping take set for me and my family oooo.
Haha, second video loading as soon as I land in Lagos, this one choke.
Don’t forget Dec 19th OVER SABI AUNTY will be showing in all cinemas Nationwide Omo we OUTSIDE ooo”.
Reacting to it, Ashabi wrote, “How this invite wan reach Ogun State iyami
Toyin Abraham commented with, “Ode”.
