After the Bokkos massacre, three persons have been confirmed killed in the Zogu community, Miango District, Irigwe Chiefdom of the Bassa local government area of Plateau State.

The leadership of the Irigwe Development Association, IDA, that confirmed the incident said the deceased are of the same family.

Sam Jugo, the National Publicity Secretary of IDA, said, “IDA has been notified of yet another attack on Zogu village, Miango yesterday the 11th April, 2025 at about 10 pm which claimed the lives of a father and two of his sons namely: Weyi Gebeh, 56 years, Zhu Weyi, 25 years, and Henry Weyi, 16 years old.

“This recent event brings to nine deaths recorded this week alone. IDA expresses its utmost displeasure on the deteriorating situation in Irigweland and calls on the security agencies to do whatever that is required to halt this barbarism on our land and perpetrators apprehended to face justice.

“The way criminal elements invade our motherland and kill with impunity seems to suggest a more sinister motive. IDA therefore calls on the Plateau State government and the security services to do the needful and stop the killing of innocent people in Irigweland.”

In another development, troops of Operation SAFE HAVEN (OPSH) on the ongoing Operation LAFIYAN JAMA’A have arrested two members of the Islamic State’s West Africa Province (ISWAP) in Plateau State. The Media Information Officer of OpSH, Samson Zhakom, in a statement at the weekend, noted, “In a coordinated operation on 11 April 2025, troops of Forward Operating Base (FOB) Shendam busted an ISWAP cell located around Yelwa axis in Shendam Local Government Area (LGA) of Plateau State.

“During the sting operation, two suspected ISWAP members identified as Abdulkadir Dalhatu 25 years-old and Ubaidu Hassan 25 years-old posing as tailors were arrested by troops. Preliminary investigation revealed that the arrested suspects were mandated by ISWAP Commander to use the cover of tailoring to facilitate the establishment of ISWAP bases in Plateau and Bauchi States. The suspects are in custody for further action.

“Additionally, on 11 April 2025, troops of Sector 4 OPSH conducted follow-up operation at the hideout of a wanted criminal at Mazat Village in Barkin Ladi LGA of Plateau State. During the operation, the suspect fled before troops arrived at the scene.

However, troops searched the hideout and recovered 1 AK-47 rifle with registration number 23402 as well as 1 AK-47 magazine buried in the building. The recovered weapons are in custody, while efforts are ongoing to nab the fleeing criminal and also recover other weapons in his possession.

“On the 12 April 2025, troops of Sector 2 OPSH acting on credible intelligence laid ambush against bandits along Road Pinau – Bangalala in Wase LGA of Plateau State. During the operation, troops made contact and neutralized one bandit while others fled with possible gunshot injuries. Troops exploited the general area and recovered one fabricated pistol.”

He called for more credible information to aid the operations of troops as they intensify onslaughts on arm-carrying criminals.

Vanguard

You probably call it something else, but I call it the Loyalty Line: that routine line-up of top government—mostly security-related—officials in front of the presidential jet when a Nigerian leader is about to travel.

You’ve seen it over and over: officials of the National Security Council and the National Defence Council standing against the backdrop of the aircraft.

In case you didn’t know, the NSC advises the President on security matters, including issues relating to organizations or agencies responsible for national security. Similarly, the NDC advises the President on matters concerning the defence of the country’s sovereignty and territorial integrity.

Given Nigeria’s fractured security and the growing lack of public trust in the government, these two overlapping bodies, along with the officials who populate them, are clearly critical today.

And yet, every time the President travels, they have room in their schedules—wherever they are and whatever they’re doing—to show up at the airport. In effect, the Loyalty Line has become more important than the hard work of securing Nigeria as anticipated by the constitution.

If the President travelled by helicopter from the Presidential Villa to the airport in Abuja, it would only take about 20 minutes. By road, every Nigerian knows it’s an exorbitant, exuberant, and expensive power show.

Since the Loyalty Line must be at the airport ahead of his arrival, it stands to reason that the loyalists don’t travel with him. Each must arrive in their individual convoys to pledge their loyalty for a few seconds.

The Loyalty Line is a reminder that officials do not have to deliver results; they simply have to be loyal. And that loyalty is part of why Nigeria remains so insecure. The security architecture, which is based on professionals doing the work of professionals, has been replaced with professionals doing political bootlicking.

But perhaps this is why Nigeria does not work? Key government chieftains are, in practice, gathered in Abuja to please and praise the president rather than being in their offices or out in the field, doggedly working for the Nigerian people. If the National Security Adviser, the Minister of Defence, the Chief of Defence Staff, the Chief of Army Staff, the Chief of Naval Staff, the Chief of Air Staff, and the Inspector-General of Police must gather at the airport simply because the president is going on a flight, who is in the trenches? And why do their subordinates—in or out of Abuja—have any urgency about the 24-hour task ahead of them? Who is out there that the terrorists are afraid of?

Let us remember that in the administration before this—Muhammadu Buhari’s—the practice was the same. Like Tinubu, Buhari appeared to resent the notion of medical care in his own country (or providing it for Nigerians), even ignoring the State House Medical Centre next door.

The former president’s notion of security was a meeting of his “security chiefs.” Repeatedly surrounding himself with them in Aso Rock was his idea of combating Boko Haram.

Because he failed so disastrously and left Nigeria in a far worse situation but enjoys portraying himself as a statesman, I have often had to respond to his propaganda, including in two “Farewell to the General” articles in May 2023; “What Buhari seeks is peace, not rest” (July 2023); “Buhari still hungers for attention,” (September 2023); “Resisting Revisionist History” (December 2024); and “Go away, Muhammadu Buhari” (February 2025).

Last week, Buhari re-emerged, wielding his “integrity” flag and claiming“personal example of not accumulating wealth” and having supposedly departed “with the same physical assets he had before his presidency.”

There are two problems. The first is that Buhari counts poorly. While he only counts five homes, he has never answered the question about “the sprawling Asokoro lakeside mansion located at Number 9, Udo Udoma Street, Asokoro, Abuja,” that Abuja’s Breaking Times reported just days after he took the presidency.

The story curiously disappeared from the newspaper’s website thereafter.

And Buhari also does not list or count any home built for him by the federal government to which he is entitled by law.

Under Nigeria’s “Remuneration Of Former Presidents And Heads Of State (And Other Ancillary Matters) Act,” every former leader receives, among others, “a well-furnished five-bedroom house” anywhere he chooses in Nigeria.

And yet, we now learn that his Kaduna home was “demolished and thereafter rebuilt”—perhaps illegally—by the federal government.  Clearly, Buhari cannot count this property as one of the five he acknowledged since 2015, and yet he is not saying that it was built for him by the government in 2023.

The second problem is that apart from his perennial self-congratulations, nobody knows how wealthy Buhari really is.  He never held himself accountable, and nobody saw the declaration of assets he promised.

Even his cattle, contrary to science, grow fewer annually.

The truth is that Buhari made Nigeria far more corrupt than his predecessors because of the daily, sectoral and routine corruption he nurtured as president, a lot of it documented in the mass media.

That included the office of the Attorney-General of the Federation, Abubakar Malami, whom he authorised to sell billions of dollars in federal assets Buhari never accounted for.

First Lady Aisha Buhari, a woman without a salary, lived in Dubai for six months between 2020 and 2021 as if it were another Nigerian state capital.  Maybe she paid for it with her Aso Rock housekeeping allowance.

It is remarkable that Buhari is now advising leaders to grant some kind of priority to the welfare of the people, but he ought to be saying it directly to Tinubu.

Remember that Buhari, five years ago, declaredthat their APC would lift 10 million Nigerians out of poverty in 10 years, a deceit nobody now addresses.

And then, of course—because the subject has returned—was Buhari’s enthronement of nepotism, which he does not recognise as corruption.

Tinubu, in his two years, has become recognised as an even worse nepotist than Buhari, but it was a practice that Buhari loved during his eight years in office.

A friend who visited him in his hotel in New York during a UN General Assembly told me how stunned he was that nobody around Buhari in the hotel spoke English!

But for Tinubu, it is not about whether he has appointed fewer non-Yorubas; it is that for the most important and strategic positions, the evidence is clear as to how his mind works.

This is the ‘Loyalty Line’ mindset. When loyalty is the underlying emotion, you do not demand or prioritise strategic brilliance, thinking, or accomplishment, let alone measurement or accountability.

That is the formula for traveling in circles: achieving motion but not progress. Our problem is that, in effect, we nurture people who nurture our insecurity.

Nigeria cannot make any progress with her leaders sojourning abroad, loaded with excuses, or by government apparatchiks gathering in Abuja in a vast orchestrated pretense of governance.  We need committed officials who, taking advantage of widely-available domestic and expertise, can fashion and implement a strong strategy to free Nigeria from the grip of insecurity.

What we currently have is a painful political pantomime that is hard to watch.

Punch

He sent his word, and healed them, and delivered them from their destructions ~ Psalms 107:20.

Introduction

We are in an amazing time for technology throughout the world today. Think of the robotics, the cyber networks, the space invasions, the brain and the open heart surgeries, the test-tube fertility programs, the cloning technology, the guided missiles and a host of others. Certainly, most of these simply bespeak stupefying wonders.

However, amazing as they may sound, they could be dubbed as near to nothing when compared with the incredible wonders that God has in store for the believers in Christ Jesus, especially those who stick to His Word in all their daily enterprises (John 14:12-14).

Could you imagine that Peter, a man with a nature like ours, actually walked upon water (Matthew 14:22-35)? Nay! He rather walked upon the strength of God’s Word, “Come”! This is a very important secret to hold unto, very tightly.

Peter cleverly traded with the power in the Word, and he wholesomely relied upon it as he ventured into the water. It was the same secret that the Centurion also knew pretty well when he implored Jesus to “speak the word only” while hoping for the healing of his servant (Matthew 8:5-13).

Now, anytime God wants to advance succor, bring help in difficult situations or intervene in the affairs of an individual, a family or a nation, what He sends is His Word! Your biggest need, therefore, is the Word of God in its right place in your life.

There can be no real wonder without the Word. Inside the Word is salvation, healing, deliverance and victories. It is the Word that births wonders and attracts wealth. What makes our goings great is God’s Word, which lightens up our paths of destiny (Isaiah 8:20).

The Word of God is the inspired and authoritative Voice of God (2Timothy 3:16). It’s powerful in time, and relevant throughout eternity. It’s creative and life transforming (1Peter 1:2). It’s the indomitable, invincible, irrepressible Conqueror of conquerors, and no devil can escape its judgement (Hebrews 4:12-13).

The Word is a living thing (Acts 19:20). It’s forever perfect, having been purified seven times (Psalm 12:6; 119:8). It’s supreme over every culture, opinions, mindset, diseases, sin, Satan, afflictions, etc (Matthew 5:18). It can overrule anything except itself.

Releasing Wonders At Our Desperate Moments

Certainly, every human being has needs for which he looks up to God (Psalm 121:1-2). To have a need is human, to fix it is divine. Hence, David cried unto the Lord: “Arise for our help, and redeem us for thy mercies’ sake” (Psalm 44:26).

God cares for the oppressed and the troubled. It’s His loving responsibility to intervene on their behalf, but it is their duty to call upon Him in prayers. "Prayer can do anything that God can do, and as God can do everything, prayer is omnipotent” (R. A. Torrey).

Howbeit, it’s the Word we invoke in prayers that provokes our wonders (Matthew 17:20). No matter how critical a situation may be, God’s Word is our unfailing tool for wonders, till today. We must always sound it clearly and unapologetically!

Furthermore, we must, as of a necessity, train our hearts, thoughts, minds and mouths to consistently align with God’s Word; they have a direct bearing on our destinies (Exodus 4:11-12; James 3:5). Our mouths are, particularly, very crucial to our victories.

Your mouth is your outlet for wonders. If Satan can cause you not to speak God’s Word, then he has succeeded in stealing your glory. When your mouth is shut, your destiny is equally barred. Contrariwise, when your mouth is fitted with wisdom, and you speak the Word only, your adversaries will never be able to resist you (Luke 21:15).

Moses spoke the Word, and the palace of Pharaoh shook in confusion, and its resistance to the release of Israel collapsed eventually (Exodus 10:11). When you speak God’s Word with boldness and perseverance, like Moses did before Pharaoh, you will definitely see your signs again.

All things were made by God’s Word, and hence under the control of the same (John 1:1-5). No situation will require more than the Word to bow. No mountain will require more than the Word to be leveled. No valley will require more than the Word to be filled. No sickness, failure, pain, poverty, barrenness or lack will require more than the Word to disappear.

Sound is a sign of life. Hence, a foremost evidence of your Christian life is in the sound you produce (Hebrews 3:1). Failures have their root in failing to speak God’s Word. Peter said, “We cannot but speak…” (Acts 4:20). With the Word, you’re a ready wonder (Psalm 71:7)!

Faith In The Workings of Wonders

Signs will always follow faith. Everywhere God ever stepped in, Word-based faith made it happen. Your rewards don’t manifest until your faith is demonstrated (Hebrews 11:6). Yours is to act your faith, and God’s lot is to work signs!

Friends, settle down with God’s Word, the Bible. Seek understanding, stop murmuring and stop giving excuses. Exploits in life answer to acts of faith (Hebrews 11:4). Awake in faith; that’s what you must do before God will work in your favour (Hebrews 6:12).

Peter was troubled when the wind became contrary and, particularly, when he saw what he thought was a ghost. Even then, he exercised faith in the God who could save unto the uttermost (Hebrews 7:25). He knew that, with the Word, nothing could be wanting. Eventually, he was rescued to safety against all odds.

Sometimes, we find ourselves being tossed about either by financial, marital, spiritual, political, mental or academic storms. We should never be dismayed. Our God is our Helper, and He has promised to disgrace all our enemies (Isaiah 41:10-13). We simply need to act in obedience to His Word, however it may come, to release the power of our faith (Luke 17:11-14).

Moses was instructed to take the Rod with him anywhere he expected to see signs (Exodus 4:17). Today, Jesus Christ is the Word and the Rod of God personified (Isaiah 11:1; John 1:1). He’s the Eternal Word that saves and changes lives. Only He can terminate our agonies by His conquest on the Cross (Revelation 5:5).

Herein is the believer’s safety and our gleeful testimonies! Our High Priest — Jesus Christ — is able to save us to the uttermost, at all times and in all cases, by the power of His exceeding grace.

When you accept Him into your life as your Lord and personal Saviour, and you walk true to His Word, He’ll establish praise in your destinies, even as you start to bask in the euphoria of inexplicable wonders.

Brethren, I see God giving you testimonies that will soon shock the world. Your story will take your peers by storm, and daze all those who have, hitherto, looked down upon you. You won’t miss it, in the Precious Name of Jesus Christ. Amen. Happy Sunday!

____________________

Archbishop Taiwo Akinola,

Rhema Christian Church,

Otta, Ogun State, Nigeria.

Connect with Bishop Akinola via these channels:

Facebook: www.facebook.com/bishopakinola

SMS/WhatsApp: +234 802 318 4987

Is it good to go to school; get a good job; build your own house and have lots of money? Not according to Jesus. These things are highly valued by men. But Jesus teaches that: “What is highly valued among men is detestable in God’s sight.” (Luke 16:15).

Therefore, it is not surprising that Jesus had none of these accomplishments as a man. He did not go to school. He was a lowly carpenter. He did not build His own house. He was not a rich man.

In Jesus’ doctrine, the cares of this life are the preoccupations of Satan and men. This makes them offensive to God. Jesus told Peter: “Get behind me, Satan! You are an offense to me, for you are not mindful of the things of God, but the things of men.” (Matthew 16:23). 

This means the things of men are the things of Satan. Jesus asked the chief priests of the Jews: “The baptism of John - where was it from? From heaven or from men?” (Matthew 21:25). If it is from heaven, then it cannot be from men.

God is good

Jesus says: “No one is good but One, that is, God.” (Matthew 19:17). This means only the things about the kingdom of God can be good. Everything about this world is evil. Those things that preoccupy us; going to school, getting good jobs, building houses, and making money, all pertain to this world and, as such, are evil and not of God.

God’s kingdom is not of this world. (John 18:36). Indeed, everything earthly is a human alternative to the will of God in heaven. Continued devotion to the things of this world militates against our desire to be with the Father in heaven and is therefore evil.

Jesus says to His disciples: “If you then, being evil, know how to give good gifts to your children, how much more will your heavenly Father give the Holy Spirit to those who ask Him!” (Luke 11:13).

This indicates He sees men as evil. To be good, men, who Jesus also categorises as “the sons of this world,” have to become “the sons of light;” another word for sons of God. Sons of men must receive from Jesus the power to become sons of God. (John 1:12-13).

This requires all our affinities to men and to this world to be relinquished in favour of God and the kingdom of heaven. These include allegiances to the fatherland, to family and relatives, and race, sex, and creed.

Jesus is categorical: “If anyone comes to me and does not hate his father and mother, wife and children, brothers and sisters, yes, and his own life also, he cannot be my disciple.” (Luke 14:26). He says furthermore: “Whoever of you does not forsake all that he has cannot be my disciple.” (Luke 14:33).

Relative and absolute evil

Men are consumed by the love of life, leading us to regard anything that threatens our life as evil. This makes us define evil erroneously in relative terms. If the enemy kills us, he is evil; but if we kill him, we are good.

However, God sees evil in absolute terms.

Jesus regards as evil anything that undermines God’s will. This makes man’s life the greatest evil of all. The love of life, expressed in our determination to enhance, promote, and safeguard our temporal condition, commands our allegiance even above the first and greatest commandment to love God with all our heart.

Therefore, Jesus regards man’s love of life as the root of all evil and the basis of every sin. Indeed, we steal, cheat, fight, kill and commit adultery to save our lives. We only overcome sin by hating our lives.   

Re-definition of evil

Jesus reveals that the love of life makes men enemies of God. He tells us that God has made the hatred of life in this world the primary prerequisite for the attainment of eternal life. Jesus says: “He who loves his life will lose it, and he who hates his life in this world will keep it for eternal life” (John 12:25).

Thereby, Jesus redefines evil. Since men esteem their lives more than anything else, Jesus defines everything that diminishes our life in this world as good. He requires us to take pleasure in infirmities, in reproaches, in needs, in persecutions and in distresses. For when we are weak, then we are strong. (2 Corinthians 12:10).

Poverty becomes a blessing. Jesus says: “Blessed are you who are poor, for yours is the kingdom of God.” (Luke 6:20). He also categorises adversities as a blessing: “Blessed are you who hunger now, for you will be satisfied. Blessed are you who weep now, for you will laugh.” (Luke 6:21).

He says: “Blessed are you when men hate you, when they exclude you and insult you and reject your name as evil, because of the Son of Man.” (Luke 6:22).

Correspondingly, Jesus tells us not to bother to resist evil anymore: “I tell you, do not resist an evil person. If someone strikes you on the right cheek, turn to him the other also.” (Matthew 5:39). He insists we must love our enemies: “I tell you: Love your enemies and pray for those who persecute you. (Matthew 5:44).

Moreover, Jesus says we should not fear death: “Do not be afraid of those who kill the body and after that can do no more.” (Luke 12:4). Death becomes something good because it leads to our reunification with the Father in heaven: “If you loved me, you would rejoice because I said, ‘I am going to the Father.’” (John 14:28). But life is evil because it keeps us away from God.

Evil misnomer

The problem with the love of life is that men are unaware that it is sinful. If we love life, we will automatically love sin. The love of life militates against the love of God. It blinds men to the truth about good and evil.

Indeed, we define our righteousness by the extent to which we love and promote life; the very thing God hates. To understand good and evil from God’s perspective, we must first break free from the bondage of the love of life.

The love of life prompts us to eat from the God-forbidden tree of the knowledge of good and evil. Everything we make and do has evil and good in it simultaneously. Every good medicine for healing sicknesses has bad side effects. The plane that carries us from Cape to Cairo sometimes falls from the sky and crashes.

We make so-called “evil things” like the atom bomb and the machine gun; and “good things” like the airplane and the aspirin. But both our “good” and “bad” products are evil in God’s sight because they are of the world and not of God.

Accordingly, John counsels: “Do not love the world or anything in the world. If anyone loves the world, the love of the Father is not in him. For everything in the world- the cravings of sinful man, the lust of his eyes and the boasting of what he has and does- comes not from the Father but from the world.” (1 John 2:15-16).

This email address is being protected from spambots. You need JavaScript enabled to view it.; www.femiaribisala.com 

Kerry Hasenbalg 

Idolatry is often thought of as an ancient sin involving golden calves and carved images. However, it’s far more common today than we might admit.

One example of idolatry’s influence is the way public opinion shifts when admired figures experience a fall from grace. While this pattern is often seen in secular fame, it has also crept into church culture. The allure of big platforms and high follower counts pose serious threats to the credibility of the American Church.

When pastors and faith influencers stumble, their followers experience deep disappointment that can lead to disillusionment and even “church hurt.” As trust in the church erodes, the name of Christ is tarnished.

I strongly believe that the way forward is engaging in the practice of soul care. Having walked closely with Christian leaders, I have seen how unaddressed idolatry weakens spiritual foundations and has contributed to the decline of the American Church.

Yet, I have also witnessed the transformative power of soul care to restore what is broken. When we turn from misplaced worship and engage in personal renewal, God transforms brokenness into wholeness in a way only He can do. That transformation is not just for the famous but for the Church as a whole.

In psychology, the concept of BIRG-ing (Basking in Reflected Glory) refers to how “individuals bolster their self-esteem and self-worth by identifying with another group or individual’s success.” Its counter, CORF-ing (Cutting Off Reflected Failure), entails distancing oneself from the failures of others to safeguard one’s own reputation.

These concepts resonate with biblical teachings, identifying them as forms of idolatry. Idolatry is defined as “the elevation of anything above God in one's life,” and is described in the Old Testament as “doing evil in the sight of the Lord.”

An idolatrous heart is a fearful heart seeking rescue through worldly pursuits. Placing hope in our soul’s most significant distractors — power, fame, and wealth — is a dangerous game. In our household, we refer to these temptations as “the three bears” because chasing them directly can harm the soul or, even worse, lead to being devoured.

The rising trend of the Christian “celebrity” is concerning and has become more prevalent with the megachurch culture and social media exposure.

When we elevate individuals beyond their humanity, we inadvertently transform them into “mini gods,” seeking them as a source to meet our needs. We become part of the demand for an unending stream of wisdom, productivity, and influence, fueling the ego’s propensity to “play god.”

The consequences of moral leadership failures bring defamation to what we aspire to embody — Christianity itself. It's important to remember that when we look to humans for validation and guidance instead of to God, we risk our spiritual well-being and the integrity of our faith community.

My mother frequently said, “Idolatry leads to hate.” Seeking superficial glory leads us to “step over a dollar to get to a dime,” where we miss the true worth of those in front of us. If we neglect these lessons, we risk creating human kingdoms instead of building God's Kingdom.

I thought that by taking in these warnings, I could sidestep these pitfalls; however, one phone call would reveal how easy it was for me to fall into these bad patterns and justify my behavior.

My friend told me, “The pastor of the church you recommended preached against bikinis, and now he’s been exposed for cheating on his wife and a porn problem.”

I felt shocked and guilty for recommending the church. I tried to distance myself, unaware I was engaging in CORF-ing — distancing myself from the pastor’s failure and the church. Judgment clouded my perspective, just as flattery does in BIRG-ing.

The failures of Christian leaders feed disillusionment, eroding trust in the Church. Yet, this is not evidence of a powerless God. Rather, it reveals His discipline, as He answers people according to their idols (Ezekiel 14:4). The solution is not to seek better leaders to admire, but to return to true, Bible-based soul care. 

Soul care begins with acknowledging our limitations, repenting, rejecting bitterness, and seeking God as our source of wisdom (James 1:5). Many have looked to misguided sources — leaders, platforms, or influence — for identity and security. Christian leaders can guide us, but they cannot sustain us.

Through decades in ministry and Christian spaces, I’ve seen how flattery and fear of backlash allow moral compromise. Those chasing earthly rewards ultimately harm their souls and those around them. True restoration requires humility, accountability, and repentance.

One of the greatest threats to the Church today is not legalism or atheism — it is idolatry. We cannot heal by idolizing better leaders or condemning fallen ones while ignoring our own brokenness.

That is the purpose of soul care — returning to God as our source, fostering honesty, accountability, repentance, and transformation. Only then can the Church reflect His light, not our own.

Christian Post

U.S. investment bank J.P. Morgan has urged investors to exit long positions in Nigerian Open Market Operation (OMO) bills, warning that global risks—driven by falling oil prices and renewed trade tensions—could deepen Nigeria’s macroeconomic vulnerabilities.

In a research note dated April 9, 2025 seen by Nairametrics, titled“Frontier Local Markets Strategy: Reducing risk further,” the bank advised clients to close their positions in Nigerian T-bills as Brent crude oil approaches sub-$60 levels.

J.P. Morgan, which had previously backed Nigeria’s carry trade for its high yield and relative stability, has now shifted its stance, citing a changing global environment worsened by former President Donald Trump’s re-emergence as a leading candidate in the U.S. elections and his push for sweeping global tariffs.

Nigeria’s central bank had earlier in the month assured stakeholders that it expected an uptick in external reserves, after it declared a net of $23 billion

• “We anticipate a steady uptick in reserves, underpinned by improved oil production levels, and a more supporting export growth environment that is expected to boost non-oil FX earnings and diversify external inflows.” 

It also recently declared a balance of payment surplus of $6.83 billion at the end of  2024, “signalling economic resurgence” and citing ongoing monetary policy reforms.

Oil below $60 threatens Nigeria’s external balance 

However, JP Morgan noted that if oil prices remain below $60 per barrel—the estimated breakeven price for Nigeria—it could push Nigeria’s current account back into deficit.

This would place significant pressure on the naira and intensify the demand for dollar assets. J.P. Morgan had earlier forecasted that in such a scenario, the USD/NGN exchange rate could surpass the 1,700/$1 mark. The current exchange rate trades around 1,500/$1, but is highly dependent on foreign inflows.

• “While Nigeria may well avoid a recession itself,” the report stated, “the substantial decline in oil prices below its break-even of US$60/bbl… would push Nigeria’s current account balance into deficit.” 

As a result, the bank has called time on one of its “highest conviction” trades in frontier markets.

CBN’s FX interventions ramp up 

J.P. Morgan acknowledged the Central Bank of Nigeria’s proactive response in recent weeks, highlighting a 3.6% depreciation in the naira, which it considers relatively moderate.

• The CBN has reportedly sold about $550 million into the market in March to defend the currency, amid rising demand and dwindling supply.
• This trend, the bank warns, could signal increased capital flight, as foreign portfolio investors may see Nigeria as more vulnerable to external shocks—especially if oil revenues decline further.
• J.P. Morgan estimates potential portfolio outflows could total up to $10 billion, although a portion of this may be tied up in private placements or illiquid assets.

The situation reflects a critical reality for Nigeria: the FX market is still heavily reliant on central bank support, and any disruption to CBN dollar inflows—primarily from oil—could create panic in both currency and bond markets.

The CBN has reportedly sold about $550 million into the market in March to defend the currency, amid rising demand and dwindling supply. Nairametrics estimates this at over $1 billion this month.

Local market liquidity falters 

The bank also observed that while the FX market has remained relatively stable, Nigeria’s domestic fixed-income market has shown signs of stress.

• Liquidity for OMO and T-bills has been notably weak, with yields rising by as much as 300 basis points in recent weeks.
• This signals reluctance among investors to absorb short-dated government securities, likely due to inflation concerns, foreign outflows, and oil price uncertainty.
• To cushion the market and prevent disorderly price movements, the central bank has been forced to intervene more actively—either by injecting liquidity or participating directly in auctions to ensure bid-cover ratios are met.

What this means for Nigeria 

J.P. Morgan’s warning highlights the fragile balance Nigeria is walking in 2025. The country’s reform agenda—particularly the unification of its FX rate and removal of fuel subsidies—had earned it positive attention in global markets last year.

But the combination of falling oil prices and rising geopolitical tensions now threatens to undo much of that progress.

• The government had hoped for increased FX inflows through oil exports and multilateral support. However, with oil prices falling and no clear path to alternative revenue streams, the pressure on fiscal and external balances is likely to grow.
• For investors, the warning is stark: Nigeria’s asset prices are highly sensitive to global conditions, particularly oil.

With Trump’s proposed global tariffs casting a shadow over emerging markets and Brent crude slipping closer to sub-$60, Nigeria’s dollar liquidity and currency stability are under threat. 

Despite the near-term risks, J.P. Morgan maintains a medium-term constructive view on Nigeria. The bank believes that Nigeria will continue on its reform path, allowing the exchange rate to find market-clearing levels and reducing its dependence on fuel subsidies.

It also expects the government to rely more on domestic revenue mobilization, including proceeds from the oil sector through the now-commercialized Nigerian National Petroleum Company Limited (NNPC). However, that recovery is contingent on higher oil prices and continued macroeconomic discipline.

The investment bank concluded that the outlook for Nigeria depends largely on how well the country can withstand external shocks and sustain its reform agenda amid global headwinds.

Nairametrics

Nigeria's pension fund regulator wants to diversify investments with more focus on infrastructure and private equity, a spokesperson said on Friday, a move that could unlock a major new source of capital in Africa's most populous nation.

The voluntary and privately managed Retirement Savings Account held assets of 23.26 trillion naira ($14.58 billion) as of February, with 60% of that invested in government debt and less than 10% in corporate securities.

Diversification would allow the fund to seek out higher-yield investments, National Pension Commission (PenCom) spokesperson Ibrahim Buwai told Reuters.

"The current investment strategy can be improved, especially given the issue of inflation. It's safer to have more options in the mix that guarantee real returns," he said.

He added that PenCom was seeking out commercially viable infrastructure investments rather than subsidised projects such as public housing.

The potential investment pivot comes as Nigeria - Africa's biggest oil producer - faces a significant infrastructure deficit, projected by ratings agency Augusto & Co. to reach $878 billion by 2040.

With only 30% of Nigeria's estimated 200,000 km (124,274 miles) of roads paved, the deficit, which extends to bridges, schools, and other public utilities, is a brake on economic growth and development.

In order to diversify investments and put pension resources to work to remedy the problem, however, fund managers say stringent rules for acceptable investable instruments must first be loosened.

In its December mandate, for example, PenCom restricted investment to companies with a corporate rating of A, which are typically multinationals with limited commercial paper issuance.

Pension fund administrators considering B-rated companies, meanwhile, were required to provide additional guarantees.

Buwai said PenCom was pushing for the creation of new investment vehicles that would allow for diversification and improve returns while ensuring acceptable risk levels.

"We are working with the capital market operators to enlarge the scope of qualified financial instruments available for pension fund investments," he said.

($1 = 1,594.9000 naira)

Reuters

Gazans speak out against Hamas for the first time in 18 years

For the first time since Hamas seized power 18 years ago, Gazans are speaking out against Hamas at great personal risk.

The abject desperation in the Gaza Strip is emboldening the population there. For the first time since Hamas seized power 18 years ago, they are speaking out against Hamas at great personal risk.

"Since Oct. 7 people have been blaming Hamas and recognizing Hamas started this war," Moumen Al Natour said.

A Gaza lawyer and former political prisoner of Hamas, Al Natour knows very well the risk he is taking by making public statements against Hamas. 

"I would be lying if I said I was not afraid," he said through a translator. "I am afraid like any citizen living as a hostage under Hamas rule for the last 18 years. If I don’t speak out against Hamas, we will certainly be exposed to something worse in the future."

While Al Natour is taking the dangerous step of speaking out – he even wrote an opinion piece published in The Washington Post – he is not entirely alone. 

On March 26, thousands of Palestinians took to the devastated streets in the Northern Gaza town of Beit Lahiya. They chanted, "Out, out, Hamas get out" and "The people want the fall of Hamas."

A demonstration in Gaza against Hamas would have previously been a guarantee of a heavy-handed response from the terrorist organization. Now, Hamas is weakened, partially by Israeli Defense Forces, partially by the desperation of the Gazans Hamas claims to serve. 

"Recently, anger has been increasing towards Hamas because the situation is deteriorating," said Al Natour.

Power has been a rare luxury in Gaza since Oct. 7, 2023. Video that comes from the Gaza Strip is an accurate reflection of the pervasiveness of the destruction. Al Natour told Fox News only buildings in the center of the Gaza Strip escaped the wrath of Israel's army.

Water is scarce. "Most of the water we have is dirty, unhealthy water," Al Natour said. "It’s very hard to have access to clean water. The water they use for other purposes is seawater, and it’s very salty. It is greatly affecting people's health over here."

Life in Gaza will only return to a healthy standard when the war ends. So, Al Natour says Gazans want to liberate the Israeli hostages. "The people of Gaza are all for the release of all Israeli hostages and sending them back to their houses. But, on the other hand, the civilians in Gaza do not have anything. They do not have the tools or any ability to help in this matter."

He also said that Gazans want an end to Hamas rule, replacing them with local leadership focused less on fighting Israel, less on political affiliation, more on providing the basics of life.

"Gaza is totally destroyed," he said. "We don’t need political affiliations or political programs right now. We only want to give the people services."

The established Palestinian leadership was quick to reject President Donald Trump's proposal to evacuate and then reconstruct the Gaza Strip and call it a freedom zone. "That’s a hell of a place," the president said last Monday.

Living in the destruction, Al Natour thinks Gazans could agree, even if it means leaving the coastal strip for good. "People welcomed Trump’s recommendation because life in Gaza is hell, and no human being can stay in Gaza forever under these circumstances."

Fox News

WESTERN PERSPECTIVE

US envoy Witkoff meets Putin as Trump tells Moscow to 'get moving' on Ukraine

U.S. President Donald Trump's special envoy Steve Witkoff held talks with President Vladimir Putin on Friday in St. Petersburg about the search for a peace deal on Ukraine as Trump told Russia to "get moving".

Putin was shown on state TV greeting Witkoff in St. Petersburg's presidential library at the start of the negotiations and state news agencies later said the talks lasted more than four hours.

"The theme of the meeting — aspects of a Ukrainian settlement," the Kremlin said in a statement after the meeting concluded.

Witkoff has emerged as a key figure in the on-off rapprochement between Moscow and Washington amid talk on the Russian side of potential joint investments in the Arctic and in Russian rare earth minerals.

The Izvestia news outlet earlier released video of Witkoff leaving a hotel in the city, accompanied by Kirill Dmitriev, Putin's investment envoy.

Dmitriev called the talks on Friday productive, according to Russian state news agency TASS.

However, the talks come at a time when U.S.-Russia dialogue aimed at agreeing a ceasefire ahead of a possible peace deal to end the war in Ukraine appears to have stalled over disagreements around conditions for a full pause in hostilities.

Trump, who has shown signs of losing patience, has spoken of imposing secondary sanctions on countries that buy Russian oil if he feels Moscow is dragging its feet on a Ukrainian deal.

Ukrainian officials have in recent days sent Washington a list of targets it believes Russia has struck in violation of the energy infrastructure ceasefire the two countries agreed to last month, according to two people familiar with the list.

On Friday, Trump said in a post on Truth Social: "Russia has to get moving. Too many people (are) DYING, thousands a week, in a terrible and senseless war - A war that should have never happened, and wouldn't have happened, if I were President!!!"

Putin has said he is ready in principle to agree to a full ceasefire, while emphasizing that crucial implementation details remain unresolved and what he describes as the war's root causes have yet to be addressed.

Specifically, he has said that Ukraine should not join NATO, that the size of its army needs to be limited, and that Russia should get the entirety of the territory of the four Ukrainian regions it claims as its own despite not fully controlling them.

With Moscow controlling just under 20% of Ukraine and Russian forces continuing to advance on the battlefield, the Kremlin believes Russia is in a strong position when it comes to negotiations and that Ukraine should make concessions.

Kyiv says Russia's terms would amount to a capitulation.

TRUMP-PUTIN MEETING?

Kremlin spokesman Dmitry Peskov said Putin and Witkoff might discuss the possibility of the Russian leader meeting Trump face-to-face.

Putin and Trump have spoken by phone but have yet to meet in person since the U.S. leader returned to the White House in January for a second four-year term.

However, Peskov played down the Witkoff-Putin talks, telling Russian state media before they started that the U.S. envoy's visit would not be "momentous" and no breakthroughs were expected.

He said the meeting would be a chance for Russia to express its concerns. Moscow and Kyiv have repeatedly accused each other of violating a moratorium on striking each other's energy infrastructure.

The meeting, the third this year between Putin and Witkoff, comes at a time when U.S. tensions with Iran and China, both close allies of Moscow, have been heightened by Tehran's nuclear programme and a burgeoning trade war with Beijing.

Witkoff, who visited a synagogue in St. Petersburg earlier on Friday, is due in Oman on Saturday for talks with Iran over its nuclear programme. Trump has threatened Tehran with military action if it does not agree to a deal. Moscow has repeatedly offered its help in trying to clinch a diplomatic settlement.

U.S. and Russian officials said they had made progress during talks in Istanbul on Thursday towards normalising the work of their diplomatic missions as they begin to rebuild ties.

A February meeting between Witkoff and Putin culminated with the U.S. envoy flying home with Marc Fogel, an American teacher whom Washington had said was wrongfully detained by Russia.

A Russian-American spa worker Ksenia Karelina, who had been sentenced to 12 years in prison in Russia, was exchanged on Thursday for Arthur Petrov, whom the U.S. had accused of forming a global smuggling ring to transfer sensitive electronics to Russia's military.

RUSSIAN PERSPECTIVE

Ukrainians fear frontline encirclement – CNN

Ukrainian soldiers have been raising fear of possible encirclement as Russian forces continue to advance along the front line, CNN has reported, citing data and messages posted on social media.

The Russian military has made new gains in the southwest of the Donetsk People’s Republic (DPR), pushing forward between strategic cities of Pokrovsk (also known as Krasnoarmeysk) and Dzerzhinsk (Toretsk), according to the Russian Telegram channel ‘Operation Z: War reporters of Russian Spring’.

Ukrainian forces still control parts of Donetsk, Kherson, and Zaporozhye regions, including the regional capitals of the latter two. The two Donbass republics as well as Kherson and Zaporozhye regions officially joined Russia in 2022 following referendums.

Some of the fiercest fighting has recently been reported south of Pokrovsk, once a key logistics hub for Ukrainian forces in the remaining parts of the DPR under Kiev’s control.

A Ukrainian officer deployed in the area told CNN this week, citing drone footage and intercepted radio communications, that Russian forces were bringing in additional manpower and vehicles, possibly in preparation for new assaults.

CNN’s analysis of combat engagements recorded by Ukraine’s General Staff reportedly indicated an increase in Russian activity along all parts of the front over the past two weeks.

Posts by Ukrainian soldiers on social media in recent days have described fears of an encirclement in one location and a breach of defensive lines in another, the news outlet wrote.

It quoted a Telegram post by a Ukrainian with a call-sign Muchnoy, who claimed the front line had entered an “active” phase and that “the Russians will not stop.”

“They will enter the Dnepropetrovsk Region – this is one of the key tasks set by the Russian command,” the post reportedly stated.

The potential encirclement of Pokrovsk could pave the way for a broader offensive into Dnepropetrovsk Region, with only six kilometers remaining to the border. Dnepropetrovsk Region borders DPR to the east and Kherson and Zaporozhye regions to the south.

The report suggested that the capture of even a part of Dnepropetrovsk Region could serve as a “bargaining chip” for Moscow in future negotiations, while seriously weakening Kiev’s position.

On Friday, the ‘Operation Z’ channel shared video footage from the fighting near Pokrovsk, showing the 255th Regiment destroying NATO equipment, infantry, and positions of the Ukrainian Armed Forces.

Reuters/RT

It is legitimate to pose the question – is our State drifting towards anarchy? Do we have a social contract with State institutions that provide for our security and welfare? It is a question worth posing, as we note the dramatic breakdown in security provisioning that has created a climate of disillusion in the State as a protector of citizens. Secondly, there is a significant rise and expansion of sectarian conflicts, both ethnic and religious, fuelled in part by massive disinformation and hate speech in both the traditional and social media. Thirdly, Nigeria’s elite consensus on federalism and the federal character principle as a guarantee against group discrimination and marginalisation is badly shaken. We ALL have a collective responsibility to stop the drift and seek pathways to re-establish confidence in the nation-building project.

Beneath the multiple narratives on offer concerning the crisis of the Nigerian State is a three-dimensional crisis. The first one affects the political economy and is generated mainly by public corruption over the past four decades that has created a run on the treasury at the national and state levels threatening to consume the goose that lays the golden egg. The second one is the crisis of citizenship symbolised by ethno-regionalism, the Boko Haram insurgency, farmer-herder killings, agitations for Biafra, militancy in the Niger Delta and indigene/settler conflicts. The third element relates to the frustration of the country’s democratic aspirations in a context in which the citizenry believes in “true democracy” confronted with a reckless political class that is corrupt, self-serving and manipulative. These issues have largely broken the social pact between citizens and the State. This has opened the gates to actors bent on dismantling the State.

This week, the Borno State governor, Babagana Zulum, raised an alarm that the state seems to be losing grounds to terrorists. He was speaking during an expanded Security Council meeting which, he noted, was convened to hear the truth from major stakeholders, including traditional rulers and heads of security agencies in the state. In attendance were the General Officer Commanding 7 Division, Major General Abubakar Haruna; sector commanders; the commissioner of police and heads of other security agencies; the Shehu of Borno, Abubakar Garbai Al-Amin El-Kanemi as well as the emirs of Biu, Uba, Askira and Gwoza.

Zulum expressed concern over the recent Boko Haram attacks on major military formations across the state, saying that the state was at risk of returning to turmoil. Many military locations had been dislodged, especially in Wulgo, Sabongari, Wajirko among others he said. The peace that had been won over the years in Borno State is apparently being lost once again. It is troubling that we cannot sustain the peace.

Meanwhile, in Jos, Plateau State, Governor Caleb Muftwang also said this week that the continuous and sustained attacks in communities in the state should not be described as conflicts between herders and farmers but a genocide against the Plateau natives. This followed the killing of about 52 persons including children on Friday, 28th March, 2025, after armed men carried out attacks on communities in Bokkos and Bassa Local Government Areas and their environs of the State. Similar stories are being told daily in other States such as Zamfara, Katsina, Niger, Benue and Kaduna. Nigerian citizens are very concerned that there are no safe spaces in the country. The problem is that it appears that the Nigerian State is not aware.

Nigeria’s National Security Adviser (NSA), Nuhu Ribadu, claimed this week also that the country has recorded over 90% improvement in security under President Bola Ahmed Tinubu’s administration. He made this assertion in Jos, Plateau state, during a press briefing following a strategic meeting with the commander of Operation Safe Haven, Folusho Oyinlola. The meeting was convened after deadly gunmen attack on the Bokkos community, which tragically claimed the lives of hundreds of residents.

There was no surprise that Ribadu’s statement, given the context of recent violence, sparked mixed reactions from across the political spectrum. Critics argue that the NSA’s comments are aimed at shaping public perception as politicking for the 2027 general election approaches. The remarks were understood by many as part of a broader political narrative to build confidence in the administration. The problem is that we the people also live in Nigeria and we have not seen the remarkable 90% improvement in security in the country. In fact a few days before his comments, Tsiga, a retired general was released by kidnappers only after friends and relations collected money and paid a huge ransom demanded by the almighty kidnappers. Significant security improvement is tangible and would be seen by the people whose lives and livelihoods are affected. There has been some improvement in security provisioning but it has not been significant enough to be noticed by the people.

In a recent lecture, the Director-General the Department of State Services (DSS) says communities a crucial role to play in securing themselves against criminal elements, adding that they must serve as the first line of defence. He specifically stated that it was impossible for all the security agencies to protect all Nigerians across nooks and crannies of the country. If Oluwatosin Ajayi, the head of the secret police, can state this openly, it suggests that there is a shift of security responsibility at the highest level of the State. He was actually speaking in Abuja when he spoke at the maiden annual lecture of the National Association of the Institute for Security Studies in the presence of top echelons from the military, police and other para-military agencies in attendance, on the topic – “Mobilising Stakeholders to Curb Insecurity in Nigeria: A Practical Approach”. The DSS’ boss recounted historical instances where communities successfully defended themselves against insurgents, particularly in Azare and Tafawa Balewa in Bauchi State. I understand his logic, that communities know their territory well and can mobilise themselves to take care of violence entrepreneurs. The reality however is that the said violence entrepreneurs have procured very sophisticated arms and often, the community simply does not have the fire power to confront them. It is also important to know that sometimes, the perpetrators are also from the community and know the layout. There are too many groups that have discovered that obtaining an AK47 can be their pathway to wealth because they are not in government where you can be wealthy by stealing without arms. Given the number of these disaffected young persons who are arming themselves to find solutions to their problems, we can easily fall into anarchy and were that to happen, we will ALL BE LOSERS as our lives would become nasty, brutish and short.

The State is based on a social contract in which it receives taxes and loyalty from the people and it offers them security – the protection of their lives and livelihoods. If it persists in its failure to provide its part of the bargain, then anarchy can loom on the horizon. The drift towards anarchy must be arrested.

** A professor of Political Science and development consultant/expert, Jibrin Ibrahim is a Senior Fellow of the Centre for Democracy and Development, and Chair of the Editorial Board of PREMIUM TIMES.

PT