Compilations of top 10 key latest updates that you need to know this Monday morning, 5th January, 2026
NNPC subsidiaries’ debt balloons 70% to N30tn
Despite its transition into a commercial entity, the Nigerian National Petroleum Company Limited is grappling with mounting financial pressure as unviable and underperforming subsidiaries deepen inter-company indebtedness, pushing outstanding obligations owed to the company to N30.30tn.
Latest findings from NNPC’s 2024 audited financial statements showed that debts owed by subsidiaries, joint ventures, and other related entities rose by 70.4 per cent, or N12.52tn, from N17.78tn in 2023 to N30.30tn as of December 31, 2024.
The sharp increase has raised fresh concerns about the company’s liquidity management and long-term financial sustainability.
An analysis of the audited accounts, recently released by the oil firm, conducted on Sunday, revealed that several of the national oil company’s core operating subsidiaries—particularly its refineries, trading arms, and gas infrastructure units—accounted for the bulk of the ballooning intercompany receivables.
The report showed that while the national oil company operates 32 subsidiaries, only eight are not indebted to the parent company, leaving the majority burdened with varying levels of inter-company debt.
Tinubu orders manhunt as terrorists kill over 40 in Niger
President Bola Tinubu has ordered a manhunt for the terrorists responsible for a deadly attack on communities in Niger State that left more than 40 people dead and many others abducted.
In a statement on Sunday personally signed by him, the President said he had directed the Minister of Defence, the Chief of Defence Staff, the Service Chiefs, the Inspector-General of Police and the Director-General of the Department of State Services to track down the perpetrators of the Kasuwan Daji attack and ensure they are brought to justice.
“These terrorists have tested the resolve of our country and its people. They must face the full consequences of their criminal actions,” Tinubu said.
“No matter who they are or what their intent is, they must be hunted down. In addition, those who aid, abet or enable them will also be brought to justice,” he added.
The President further ordered the immediate rescue of all abducted victims and directed that security operations around vulnerable communities, particularly those near forests, be intensified.
“These times demand our humanity.
We must stand together as one people and confront these monsters in unison. United, we can and must defeat them and deny them any sanctuary.
We must reclaim peace for these attacked communities,” Tinubu said, praying for the repose of the victims’ souls.
The presidential directive followed coordinated attacks by suspected bandits on Saturday afternoon in Agwara and Borgu local government areas of Niger State.
Anambra State Commissioner of Police
The Commissioner of Police, Anambra State Command, CP Ikioye Orutugu, has commended police operatives and other security agencies for their dedication and professionalism during the Yuletide security operations across the state.
In a statement on Monday signed by Police Public Relations Officer, SP Tochukwu Ikenga, the Commissioner stated that the cooperation between the Police Command, sister security agencies, and other stakeholders was key to the peaceful celebrations witnessed during the festive season.
“The synergy among the Police Command, sister security agencies, and other security stakeholders was instrumental to the peaceful celebration during the Yuletide,” he said.
The police chief also expressed appreciation to residents of Anambra for their vigilance and support, emphasising the importance of community partnership in ensuring effective policing.
Pound to Naira exchange rate today, January 5, 2026
The Nigerian foreign exchange market opened the first week of 2026 with the British Pound Sterling (GBP) maintaining a significant spread between official and informal trading channels.
As of the morning of Monday, January 5, the Naira continues to face volatility across the various market segments.
At the Nigerian Foreign Exchange Market (NFEM), the Pound Sterling started the day trading at an average rate of 1,936.43 NGN.
This official window, which reflects the central bank’s regulated activity and major institutional trades, has seen the Naira hover around this range as the market adjusts to early-year liquidity demands.
Real-time data from the official window shows the rate fluctuated between a low of 1,927.43 NGN and a peak of 1,937.56 NGN during the early trading hours.
This minor intraday volatility suggests a steady but high demand for the British currency for official trade and services.
Equity investors sustain last year end rally to gain N2.05trn
The investors on the Nigerian Exchange Limited, NGX sustained the 2025 year-end rally, gaining N2.05 trillion in the four trading days of the week.
Financial analysts noted that investors returned to fundamentally strong stocks across the Banking, Information Communications Technology , ICT and select Consumer Goods sectors.
Analysis of trading shows that the NGX market capitalisation, which represents total value of equity investment on the Exchange, surged to N99.938 trillion from N97.890 trillion the previous week.
Similarly, another performance indicator, NGX All Share Index, ASI rose by 1.9% to close last week at 156,492.36 points from N153,539.83 points the previous week.
Further transactions at the market show that a total turnover of 7.821 billion shares worth N134.471 billion in 150,799 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.876 billion shares valued at N63.832 billion that exchanged hands the previous week in 80,229 deals.
Dollar to Naira exchange rate today, January 5, 2026
The Nigerian Naira opened the first full week of 2026 with continued fluctuations across the various market segments. As of the morning of January 5, 2026, the local currency showed a slight recovery trend compared to the closing figures of the previous year, though it remains under pressure due to consistent demand for the greenback.
Official Market Rates (NFEM)In the Nigerian Foreign Exchange Market (NFEM), the official window where the Central Bank of Nigeria monitors transactions, the Naira is currently trading at an average of 1,441.85 per US Dollar.
This follows a period of volatile trading during the early morning hours, where the rate hit a low of 1,437.10 before stabilizing near the current mark.
Market analysts note that the volume of liquidity in the official window remains a key factor in price discovery as the government continues its efforts to unify exchange rates.
Makinde reshuffles cabinet, appoints new SSG, others
Oyo Governor Seyi Makinde has announced a cabinet reshuffle.
According to a statement by his Special Adviser (Media), Sulaimon Olanrewaju, Makinde has relieved the Secretary to the State Government, Professor Olanike Adeyemo, of her appointment with immediate effect.
Professor Musibau Adetunji Babatunde has been appointed as the new Secretary to the State Government.
The statement further said that Temilolu Seun Ashamu has been moved as Commissioner from the Ministry of Environment and Natural Resources to the Ministry of Budget and Economic Planning.
Also, Governor Makinde announced his Senior Special Assistant on Public Works, Ademola Aderinto, as a commissioner-designate.
Fed Govt set for AfCFTA’s preferential terms, says Oduwole
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole has disclosed that the government is ready to trade within Africa under the preferential terms of the African Continental Free Trade Area (AfCFTA) Agreement, confirming that the country had fulfilled key obligations under the agreement and protocols on trade in goods and services, as well as digital trade by gazetting the relevant legal instruments.
This was disclosed during the Nigeria AfCFTA Achievements Report 2025, stating that the ministry had taken concrete steps to position and equip Nigerian businesses to succeed in the AfCFTA market, adding that Nigerian businesses and products could benefit from better and preferential treatment in the AfCFTA market.
According to her,
“The FMITI has undertaken strategic initiatives to position and equip Nigerian businesses to succeed in the market.
The African Continental Free Trade Area (AfCFTA) Agreement is the apotheosis of Africa’s journey of trade-led economic integration. Through the progressive elimination of tariffs, removal of other barriers, and regulatory cooperation among AfCFTA State Parties.
Organisation condemns smear campaign against IGCivil society organisation, Advocates for Good Governance, has lauded the Police for ‘notable achievements’ in 2025, while condemning sustained smear campaigns and alleged attempts to force Inspector-General of Police, Kayode Egbetokun, out of office.
The group said the police, under Egbetokun’s leadership, recorded progress in professionalism, discipline, and internal reforms, despite persistent attacks at discrediting it and its leadership.
In a statement yesterday by Abe Kolawole, Publicity secretary and Ibrahim Ahmed, president general, the organisation warned that media attacks and online campaigns against the Police chief were part of efforts by disgruntled elements to derail reforms in the Police.
“These smear campaigns and attempts to get the IG out of office are dangerous to national security,” it said.
“They are driven by individuals who lost out under the reform-oriented leadership and are bent on destabilising the Police.”
The group noted that Egbetokun’s enforcement of rules on retirement age, years of service, promotions, and postings has blocked entrenched interests that previously thrived on impunity, triggering backlash against his leadership.
“Normalise praying” – Lateef Adedimeji admonishes the public in New Year message
Nollywood actor and movie producer Lateef Adedimeji has urged the public to normalise praying.
In his New Year’s message, he said people aren’t jealous of material things anymore, but are jealous of one’s aura, personality, natural leadership abilities, and things that money can’t buy.
Normalise praying. People aren’t jealous of material things anymore.
They’re jealous of your Aura, your personality, and the way people love and support you.
Your natural leadership abilities.Things money can’t buy”.
