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States Didn’t Receive N570bn, Gov Makinde Counters President Tinubu

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Governor Seyi Makinde of Oyo State has denied a statement by President Bola Tinubu that the federal government gave N570 billion to all the States in the country.

Makinde said this while addressing Nigerians in a broadcast during the #EndBadGovernance nationwide protests against hunger and hardship.

President Bola Tinubu had said his administration had disbursed ₦570bn to the 36 states, Makinde in a newsletter shared on his X handle on Thursday, said the state was not in the know of such a grant.

He said, “I responded to a question from a concerned citizen of Oyo State regarding the claim that the Federal Government ‘gave’ States over N570 billion as some kind of ‘hardship fund’ for citizens.

“Let me state categorically that this is yet another case of misrepresentation of facts. The said funds were part of the World Bank-assisted NG-CARES project—a Programme for Results intervention.

“The World Bank facilitated an intervention to help States in Nigeria with COVID-19 Recovery. CARES means COVID-19 Action Recovery Economic Stimulus.

“It was called the Programme for Results because States had to use their money in advance to implement the programme.

“After the World Bank verified the amount spent by the State, it reimbursed the States through the platform provided at the Federal level. The Federal Government did not give any State money; they were simply the conduit through which the reimbursements were made to States for money already spent.

“It is important to note that the World Bank fund is a loan to States, not a grant. So, States will need to repay this loan. Note also that NG-CARES, which we christened Oyo-CARES in our State, predates the present federal administration.”

He further explained that the loan came in two tranches to states, saying Oyo State got ₦5.98 billion in the first tranche and ₦822 million in the second tranche.

“So, in direct response to the message, the Federal Government did not give Oyo State any money. We were reimbursed funds (₦5.98 billion in the first instance and ₦822 million in the second instance).

“We invested in the three result areas of NG-CARES, which includes inputs distribution to smallholder farmers within our State. In fact, when the World Bank saw our model for the distribution of inputs preceded by biometric capturing of beneficiary farmers, they adopted it as the NG-CARES model,” governor Makinde added.

 

 

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Rivers Assembly Suspends Impeachment Move Against Fubara After Tinubu’s Intervention

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The Rivers State House of Assembly has officially suspended impeachment proceedings against Governor Siminalayi Fubara and his deputy, Ngozi Odu, following President Bola Tinubu’s intervention.

The House moved the motion to halt the impeachment process on Thursday at its resumed sitting in Port Harcourt, the state capital.

JomogNews had reported that during its first sitting of 2026, the House had begun impeachment proceedings against the governor and his deputy over allegations of gross misconduct, including the demolition of the State Assembly complex and alleged spending without legislative approval, among other claims.

More details later….

 

 

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Reserves Surge To $48.5bn As Nigeria Reclaims 2013 Peak Levels

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Nigeria’s foreign exchange (FX) reserves have reached $48.5 billion, their highest level in nearly 13 years.

This milestone, confirmed by data from the Central Bank of Nigeria (CBN), surpasses previous multi-year peaks and represents the strongest balance since May 14, 2013, when reserves stood at approximately $48.51 billion.

However, the data showed that the foreign reserves increased steadily by 6.45 percent or $2.94 billion year-to-date, from $45.56 billion reported on January 1 to $48.5 billion.

Further checks showed that the FX reserves figure was $48.36 billion on Monday.

According to the CBN, FX reserves are assets held on reserve by a monetary authority in foreign currencies, which are used to back liabilities and influence monetary policy.

On December 22, 2025, the apex bank projected that the country’s external reserves would rise to $51.04 billion in 2026, saying the increase will be supported by FX reforms.

“Reforms in the foreign exchange market are expected to sustain exchange rate stability, while external reserves are projected to increase to US$51.04 billion,” CBN said.

On February 10, Olayemi Cardoso, governor of CBN, said the bank will do “whatever it takes” to safeguard the value of the naira, while strengthening the country’s external reserves.

Looking ahead to 2030, he said the CBN’s targets include achieving single-digit inflation and growing foreign exchange (FX) reserves driven by non-oil exports, foreign direct investment, and diaspora remittances.

 

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Ogun Police Launch Investigation Into TikToker Mirabel’s Sexual Assault Claims

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The Ogun State Police Command has launched an investigation into sexual assault allegations made by a TikToker known as Mirabel (@mirab351), who is currently receiving treatment in an Intensive Care Unit (ICU).

The case gained widespread attention after she posted emotional videos on Monday, February 16, detailing an attack she claimed occurred at her home the previous Sunday.

The command’s Public Relations Officer, Oluseyi Babaseyi, disclosed the development on Thursday while speaking on The Morning Brief.

Babaseyi confirmed that Mirabel voluntarily visited the Ibafo Police Division on Tuesday, February 17, to lodge a formal complaint and was subsequently admitted to the hospital for medical care due to her unstable condition.

“When the DPO in Ibafo met with her, she was taken to the hospital for medical analysis. She wasn’t as stable as necessary, but we ensured the investigation continued.

“As we speak, she is in the intensive care unit getting appropriate care. Her medical well-being is more important to us at this point. When she is stable, we can now continue investigations and get the necessary facts,” Babaseyi said.

According to Babaseyi, the incident reportedly occurred in Ogijo, a border community between Ogun and Lagos states.

The police have established that Mirabel was not arrested, but rather, she is being treated as a victim.

The command urges individuals with useful information to come forward and assist with the investigation.

“She was not arrested by the police. She reported a case, and we are investigating. Nothing like her arrest happened,” he said.

“If the allegation is established to be true, the perpetrator will be arrested and charged to court appropriately. Otherwise, the law also addresses giving false information,” the police stated.

The police said they will rely on evidence to reach a logical conclusion and take appropriate action.

“We advise people not to jump to conclusions based on emotions. We are investigating and will rely on evidence to reach a logical conclusion,” Babaseyi said.

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