General News
Victory hands Buhari second chance to lead Nigeria
By Lukman Otunuga, FXTM Research Analyst.
The people of Nigeria have decided to grant President Muhammadu Buhari another chance to restore and stabilize the economy. Although there was a combination of uncertainty, confusion and anxiety following Buhari’s election victory, this is poised to fade as focus returns back to macroeconomic conditions. With the elections done and dusted, the key question on the mind of many investors is what this means for the Nigerian economy in 2019 and beyond.
Buhari’s re-election certainly suggests continuity, something that offers the nation a chance to build on its economic recovery and growth strategy. This fact alone is a welcome development for foreign investors, especially those attracted to stability and consistency in economic policy. The truth of the matter is that the president faces an extensive to-do list within a four-year timeframe, including rekindling economic growth, boosting infrastructure and most importantly, diversification. On top of all of this, there are external risks in the form of trade tensions, slowing global growth and depressed Oil prices, all of which l have the potential to threaten the nation’s recovery.
Digging deeper into Nigeria’s economic conditions, unemployment has risen to over 23% in the last four years while the nation’s stock markets are one of the world’s worst performing. While it’s easy to point fingers and blame Nigeria’s leadership for its woes, external risks in the form of falling Oil prices was a primary culprit behind the recession. Lessons from the past should encourage the administration to invest in infrastructure and step up its efforts in finding growth from other sustainable sources. With Nigeria boasting a youthful population and fertile land, one of the solutions to attaining stability could be found in agriculture.
With the Economic Recovery and Growth Plan (ERGP) already in place, this may result in Nigeria’s economic growth hitting roughly 2% YoY. Nigeria however, like many other Oil export-dependent emerging markets, remains exposed to US-China trade developments, global growth fears and Oil prices. If the two largest economies in the world are unable to find a middle ground on trade, global growth decelerates and Oil prices tumble, it will bring nothing but bad news for Nigeria.
In regards to the foreign exchange, this is another grey area that impacts investor sentiment towards the Nigerian economy. There is a possibility that Buhari’s victory results in the continuity of the current fixed/multiple system by the Central Bank of Nigeria. While this has resulted in Naira stability in recent years, it has come at a heavy cost in the form of foreign exchange reserves. Will the CBN ever allow the natural forces of supply and demand to determine the equilibrium value of the Naira? This remains a question on the mind of many investors.
On the bright side, PricewaterhouseCoopers (PwC) reported that Nigeria remains the largest economy in Africa for the second year in a row. However, much work is needed for the nation to keep this title. The story defining Nigeria’s economy remains one that depends on Oil exports for more than half of its government revenues. This represents a major downside risk, as falling Oil prices will not only cut revenues but also spark foreign exchange instability by sabotaging the Central Bank of Nigeria’s efforts to shield the Naira. The negative knock-on effect from such a development would most likely ripple through all concerns of the economy.
At the end of the day, the quicker Nigeria is able to source sustainable growth from non-Oil sectors, the quicker there will be a positive change in sentiment towards the largest economy in Africa.
MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.
MultiChoice
The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.
MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”
Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.
According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”
The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.
Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.
Tinted glass permit
The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.
An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.
Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.
The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.
IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.
Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.
Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.
According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.
The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.
Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.
He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.
Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.
In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.
Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.
Fidelity Bank Appoints Onwughalu as New Chairman After Chike-Obi’s Tenure
DStv Offers Instant Package Upgrade for Customers from January to February
HURIWA Demands Accountability from SEDC Over N140Bn Budget Utilisation
FIRS Transforms into NRS as Nigeria Ushers in New Tax Era
MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Report Reveals Half of 2025’s Compromised Passwords were Already Leaked
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
General News3 days agoNigeria Police suspends tinted glass permit enforcement over court injunction
Broadcasting2 days agoDStv Offers Instant Package Upgrade for Customers from January to February
E-Financial2 days agoFidelity Bank Appoints Onwughalu as New Chairman After Chike-Obi’s Tenure
Broadcasting2 days agoFIRS Transforms into NRS as Nigeria Ushers in New Tax Era
News2 days agoHURIWA Demands Accountability from SEDC Over N140Bn Budget Utilisation
General News2 days agoMultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal