Compilations of top 10 key latest updates that you need to know this Thursday morning, 15th January, 2026
FG orders banks, fintechs to remit VAT on service fees
The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.
The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days.
Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
FG, ASUU unveil agreement to end strikes, varsities closures
The Federal Government and the Academic Staff Union of Universities on Wednesday unveiled a renegotiated agreement aimed at resolving long-standing disputes in Nigeria’s tertiary education sector, resulting in incessant strikes and closure of universities.
The 2025 agreement is the conclusion of a renegotiation process that began in 2017 to review the 2009 FG–ASUU pact, which was due for revision in 2012.
Several committees set up under past administrations chaired by Wale Babalakin, Munzali Jibrin and Nimi Briggs failed to deliver a final agreement.
The breakthrough came under the current administration, which inaugurated the Yayale Ahmed-led renegotiation committee in October 2024.
An agreement was reached about 14 months later, focusing on improved conditions of service, funding, university autonomy, academic freedom and broader reforms to reverse sectoral decay, curb brain drain and reposition universities for national development.
A major provision of the agreement is the upward review of the remuneration of academic staff in federal universities by 40 per cent, with effect from January 1, 2026.
AFCON 2025: Morocco beat Nigeria 4–2 on penalties, to face Senegal in final
Nigeria’s Super Eagles on Wednesday lost 4–2 in a penalty shootout to host nation Morocco at the 2025 Africa Cup of Nations after a tense 0–0 draw at the Prince Moulay Abdellah Stadium.
The semi-final was an evenly contested affair over 120 minutes, with Morocco dominating much of the attacking play, registering 16 shots to Nigeria’s 2.
Both sides created chances, but Nigeria’s Stanley Nwabali and Morocco’s Yassine Bounou kept their teams in the game with key saves.
Star forwards Victor Osimhen and Ademola Lookman struggled to influence the match, and their efforts in extra time were thwarted by the hosts’ defence and goalkeeper.
Morocco captain Achraf Hakimi was superb at right-back, as was his counterpart on the left side, Noussair Mazraoui.
Both played prominent roles in the attack, keeping pressure on Nigeria while also limiting the impact of the Super Eagles’ attackers.
AFCON 2025: Nigeria remains proud of you, FG tells Super Eagles
The Federal Government has commended the Super Eagles for their performance at the 2025 Africa Cup of Nations, assuring the team that Nigerians remain proud of them despite their semi-final exit from the tournament.
In a statement released on Thursday by the Minister of Information and National Orientation, Mohammed Idris, the government praised the players for representing the country with pride, dignity and resilience throughout the competition.
“Nigeria remains proud of you,” Idris said, noting that the Super Eagles displayed character, teamwork and commitment even in defeat.
He said the players’ conduct and fighting spirit embodied the values associated with the national colours, stressing that the team’s effort mattered as much as the final result.
Kogi invalidates fake land titles, reclaims properties
The Kogi State Government has uncovered widespread fraud in the processing and issuance of Certificates of Occupancy in the state, invalidating all documents found to have been illegally obtained.
This was disclosed in a statement issued on Thursday in Lokoja by the State Commissioner for Information, Kingsley Fanwo.
Fanwo said investigations revealed that many of the affected CofO lacked proper documentation, had no corresponding files, and did not pass through the required statutory processes.
“In many cases, official codes were fraudulently misapplied or manipulated in an attempt to circumvent established due process”, the statement partly read.
Atiku salutes troops on Armed Forces Remembrance Day
Former presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has paid tribute to fallen soldiers and serving members of the Nigerian Armed Forces, praising their courage, sacrifice and commitment to the unity and security of the country.
According to a post via his verified X handle on Thursday to mark Armed Forces Remembrance Day, Atiku said he and his family joined millions of Nigerians in solemn remembrance of military personnel who lost their lives in the line of duty.
“Today, my family and I join millions of Nigerians in solemn remembrance and deep gratitude to the brave men and women of our Armed Forces,” he said.
The former Vice President also honoured troops who made what he described as the supreme sacrifice in defence of the nation, while also commending those currently serving across the country.
Dollar to Naira exchange rate today, January 15, 2026
The Nigerian Naira started the day with slight fluctuations against the United States Dollar across both the official Nigerian Foreign Exchange Market (NFEM) and the informal parallel market.
As the first month of 2026 progresses, market participants are closely monitoring liquidity levels and the impact of central bank interventions on the local currency.
In the early hours of Thursday, January 15, data from the Nigerian Foreign Exchange Market indicated that the Naira opened at approximately 1,422.25 per Dollar.
Following early morning trading activity, the rate saw a marginal depreciation, settling around 1,423.42 per Dollar.
The intraday movement suggests a relatively stable start for the official window, though it remains sensitive to the volume of available forex.
Analysts attribute this narrow trading range to the ongoing efforts by the Central Bank of Nigeria to manage volatility and bridge the gap between various segments of the market.
FG threatens to withdraw licenses of dormant oil blocks
The Federal Government is set to revoke the licenses of some oil blocks in the country over delays in development of the oil blocks by the license holders.
Confirming this yesterday at the Licensing Round Pre-bid Conference in Lagos, Minister of State, Petroleum Resources, Heineken Lokpobiri, added that there will be no refund of bid fee or signature bonus following the revocation
He stated further:
“Licenses are no longer status symbol.
They belong to the government. Every licensee must develop the assets within the given time frame.
“Some licensees have held their licenses for 20 years without developing their assets. Such will not be tolerated any.
BUA chairman says $500,000 reward to Super Eagles still active
The Chairman of BUA Group, Abdul Samad Rabiu, has commended Nigeria’s Super Eagles for their gallant display at the 2025 Africa Cup of Nations.
He said that the monetary pledge he made still stands in spite of the semifinal defeat by host Morocco.
Nigeria’s Super Eagles suffered a heartbreaking loss from the 2025 AFCON after losing 4-2 on penalties to host Morocco in a tense semi-final clash at the Prince Moulay Abdellah Stadium, Rabat, on Wednesday
Rabiu praised the players’ courage, unity and determination, describing their performance as worthy of national pride and celebration.
He disclosed this in his official X handle, where he congratulated the Super Eagles for their impressive performance and national pride.
“You fought with your hearts, gave your all, and showed true courage on the pitch. Every Nigerian is proud of you,” Rabiu said.
Gov Mbah: Why we’ll continue to prioritise child welfare, education
Governor of Enugu State, Dr. Peter Mbah, says his administration will continue to prioritise the welfare and education of children in the state, as it remains the only way to guarantee a prosperous and decent future for the state.
Mbah has also reiterated his administration’s zero tolerance for all forms of child abuse, including child marriage, sexual abuse and exploitation, child labour, child trafficking, among others.
He spoke when he received the Enugu State Children’s Parliament, led by the Honourable Speaker, Miss Chimamanda Amobi, at the Government House on Tuesday.
Mbah, who has consecutively invested over 30 per cent of the state’s 2024, 2025 and 2026 budgets in education, said that a society that fails to invest in the quality education and welfare of its children had already compromised its future.
