WHALEXTRA

The Centre for the Promotion of Private Enterprises (CPPE) has disclosed that the naira traded within the range of N1,340 to N1,430 against the dollar in the official market in the first quarter of 2026. Chief Executive Officer of CPPE, Muda Yusuf, made this known in a weekend statement while reviewing Nigeria’s economic performance in Q1 and providing an outlook for the second quarter. According to him, the relative stability of the naira during the period helped to moderate imported inflation and boost investor confidence. He attributed the exchange rate stability to improved external reserves, which climbed to about $50 billion as of March 11, 2026. Despite the gains, Yusuf noted that the cost-of-living crisis remained severe for many Nigerians, driven by high energy costs, insecurity, and persistent structural challenges within the economy.

  Tension is mounting in Katsina State as Governor  Dikko Umaru Radda  convenes an emergency Security Council meeting at the Government House to address serious security concerns. The meeting, which is still ongoing, has brought together top security officials, underscoring the urgency of the situation. Those present include senior officers of the Nigerian Army, officials from Defence Headquarters, and operatives of the Department of State Services (DSS) and the Nigeria Police Force. Also in attendance are representatives of the Nigeria Immigration Service, the Nigeria Security and Civil Defence Corps (NSCDC), the Nigeria Customs Service, the Federal Road Safety Corps (FRSC), the Federal Fire Service, and the National Drug Law Enforcement Agency (NDLEA). Chairmen of affected local government areas are also participating, alongside the Commissioner for Internal Security and Home Affairs, traditional rulers, religious leaders, and other senior government officials.

Four-time world champion Max Verstappen, who had declared himself “beyond frustrated” after qualifying for the ⁠Japanese Grand Prix, said he was considering his future in the sport after finishing eighth in Sunday's race at Suzuka. Speaking to  BBC ‌Radio 5 Live , the Red Bull driver said his lack of enjoyment at driving the ‌new generation of cars was making him question whether racing in ‌the sport was still worth it. "I'm thinking about everything inside this paddock,"  he ‌said in the interview. "You also wait for 24 ‌races. This time it's 22. But normally 24. And then you just think about, is it worth it?" Verstappen  has been an outspoken critic of Formula 1's new ‌regulations and engine era.

  Spain released Arsenal midfielder Martin Zubimendi from their squad on Sunday because of knee discomfort. "To avoid any risk whatsoever and safeguard the player's health, he has been released from the squad," said the EURO 2024 winners in a statement. " Arsenal 's medical staff have been fully informed of the entire process." Zubimendi  came on as a substitute in  Spain 's 3-0 win over Serbia on Friday. The 27-year-old will miss Tuesday's friendly  against Egypt in Barcelona . Zubimendi has been a key part of Premier League leaders Arsenal's midfield this season, playing 44 times across all competitions.

Saudi Arabia announced that the Eid al-Fitr holiday marking the end of the Islamic fasting month of Ramadan will begin on Friday. “The Supreme Court has decided that tomorrow, Thursday, is the completion of the 30th day of the month of Ramadan. Friday is the day of the Blessed Eid al-Fitr,” the Saudi Press Agency reported. The timing of the holiday, which marks the end of the fasting month of Ramadan, is determined by the sighting of the crescent moon, in accordance with the Muslim lunar calendar. Observing the Ramadan fast is one of the five pillars of Islam, requiring believers to abstain from eating, drinking, smoking and sex during daylight hours. Ads by  Observant Muslims are also encouraged to donate to the poor.

  Vice President  Kashim Shettima  has declared that those behind the recent attacks in Maiduguri, the Borno capital, will be decisively confronted. Shettima said this on Wednesday in Maiduguri when he visited victims of the bomb blast who are receiving treatment at the University of Maiduguri Teaching Hospital. The vice-president, who restated the Federal Government’s resolve to defeat terrorism, said his visit was to sympathise with the injured and families affected by the tragedy. He noted that beyond the presidential directive to security chiefs, the Federal Government had been investing more in equipment and other logistics to boost the fight against terrorism across the country. Shettima condemned the gory multiple explosions in Maiduguri on Monday in which more than 100 people were affected, with over 20 confirmed dead.

State governments have called for a forensic audit of Nigeria’s crude oil-backed borrowing arrangements , warning that opaque crude-for-loan and swap deals may be undermining inflows into the Federation Account. The PUNCH earlier reported that the Nigerian National Petroleum Company Limited pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn, according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements. According to The PUNCH’s findings, NNPC has already fully repaid $2.61bn in loans, representing 29.4 per cent of the total credit facility, while $6.25bn or 70.6 per cent, remains outstanding. Also, out of the $8.86bn credit facility, only about $6.97bn has been received from seven crude-for-loan deals, as of December 2023. The demand was contained in a communiqué issued at the end of the 2026 retreat of the Federation Account Allocation Committee Post-Mortem Sub-...

  President Bola Tinubu  has approved the procurement of new equipment for the armed forces and other security agencies to enhance the fight against terrorism and banditry across the country, the Minister of Defence, Gen Christopher Musa (retd.), has disclosed. Musa, who briefed State House correspondents after a nearly two-hour security meeting at the Presidential Villa, Abuja, on Thursday, said the President remained committed to supporting security agencies in their operations against insurgents. “The President has promised more equipment for us to be able to protect the nation, and we assure victory,” Musa stated. However, he did not specify the type or quantity of equipment approved by the President. Rather, he explained that the meeting, which was the first attended by the new Inspector General of Police, Tunji Disu, since his appointment, was convened to brief the President on the current security situation following recent attacks on military formations.