TWN NEWS – Weekly Roundup
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TWN NEWS
WEEKLY EDITION
Week Ending: Saturday, 10 May 2026
Edition No. 2026-19 | Lagos, Nigeria
Edition No. 2026-19 | Lagos, Nigeria
■ Nigeria's Premier Weekly News Digest
Sunday, 10 May 2026 | Lagos Time (WAT)
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Top Stories — 4 to 10 May 2026
News Roundup
🗳️ Politics — 2027 Race
01
Tinubu Submits 2027 Re-election Forms; 12 APC Governors Escort Shettima; Jonathan Eligibility Suit Filed
The 2027 presidential race moved from political whisper to official campaign this week as twelve APC governors — representing Plateau, Ogun, Niger, Kaduna, Ondo, Katsina, Borno, Cross River, Taraba, Yobe, Nasarawa, and Bayelsa — escorted Vice President Kashim Shettima to formally submit President Bola Tinubu's nomination and expression of interest forms to APC national officers in Abuja. Alimosho Federal Constituency APC members additionally endorsed Tinubu for a second term and threw their weight behind Deputy Governor Obafemi Hamzat — who was screened and cleared by the APC Governorship Screening Committee — as preferred Lagos governor for 2027. A Federal High Court also fixed May 8 to hear a suit by lawyer Johnmary Jideobi seeking to declare former President Goodluck Jonathan constitutionally ineligible for the presidency. Hayatu-Deen became the first official ADC presidential aspirant, meeting Jonathan in Abuja and picking up the party's N100 million nomination form.
⚖️ Anti-Corruption
02
Ex-Power Minister Saleh Mamman Convicted for ₦33.8bn Money Laundering; Senate Reverses Standing Orders
In a landmark anti-corruption ruling, the Federal High Court in Abuja convicted former Minister of Power Saleh Mamman on a 12-count money laundering charge, finding him guilty of diverting approximately ₦33.8 billion in public funds. Justice James Omotosho held that the EFCC proved its case beyond reasonable doubt — a verdict hailed as a major milestone in Nigeria's anti-graft campaign. Separately, the Senate this week rescinded controversial amendments to its Standing Orders 2026 following concerns that some provisions were inconsistent with the 1999 Constitution — a rare instance of parliamentary self-correction. Drama erupted in the chamber when Senate President Akpabio and former governor Oshiomhole clashed openly during the debate, in a clash that went viral on social media.
📊 NGX Markets
03
NGX Sustains Bull Run — ASI Hits 244,776; Market Cap ₦153.9 Trillion; 12-Month Gain Now 125%
The Nigerian Exchange sustained its extraordinary 2026 bull run through the week ending May 10, with the All-Share Index climbing to approximately 244,776 points on May 8 — a 2.10% daily gain — while market capitalisation held at ₦153.9 trillion (USD 113 billion). The 12-month return now stands at a stunning 125%, cementing Nigeria as one of the best-performing equity markets globally this year. Thursday's session saw CAP lead gainers at +9.99%, followed by FTN Cocoa Processors (+9.99%), Berger Paints (+9.97%), and Zichis Agro (+9.97%). Mecure and Neimeth also posted near-limit gains. University Press led losers at -10.00%, followed by Red Star Express (-9.59%). The NGX also confirmed that 2026 is shaping up as a record dividend year — with BUA Foods (₦28 final dividend, ex-date June 4) and Beta Glass (₦7.20 final dividend, ex-date June 3) among the standout upcoming payouts.
🌍 Security
04
Army Rescues 9 Orphanage Abductees in Kogi; Katsina: 5 Bandits Killed, 32 Hostages Freed; Flood Warning for 19 States
Troops of the 12 Brigade rescued the remaining nine victims abducted from the Daarul-Kitab Islamic Orphanage in Zariagi, Lokoja, Kogi State, while foiling an alleged terrorist logistics operation — a significant operational success that brought relief to the affected families. In Katsina, intensified joint security operations against banditry resulted in the killing of five suspected bandits and the rescue of 32 kidnap victims. The Nigerian Meteorological Agency (NiMet) this week issued an urgent warning that 19 states across the country face a serious risk of flash flooding in the coming days due to expected heavy early rains — with Lagos, Kogi, Benue, and Delta State among the most vulnerable. The NLC wrote formally to COSATU in South Africa urging a mass campaign against xenophobia and the violence against African migrants.
🎭 Culture & Awards
05
AMVCA 2026: 'The Herd' vs 'Gingerrr' in Nine-Nomination Showdown at Eko Hotels; Falconets Qualify for U20 World Cup
The 2026 Africa Magic Viewers' Choice Awards (AMVCA) took place this weekend at Eko Hotels and Suites, Lagos, in a night of glamour, fashion, and celebration of African storytelling. 'The Herd' and 'Gingerrr' led all nominations with nine apiece, setting up a gripping battle for top honours. On the sports front, Nigeria's U20 women's team — the Falconets — secured qualification for the 2026 FIFA U20 Women's World Cup in Poland, edging past Malawi's Young Scorchers 3-2 on aggregate in a hard-fought two-legged tie. Victor Osimhen was again linked to Paris Saint-Germain in fresh reports from France, while Uzbekistan striker Shomurodov and Paul Onuachu battled for the Super Lig golden boot. Former international coach Onigbinde will be buried on June 26 in Modakeke.
💼 Diplomacy & Appointments
06
Fani-Kayode Named Ambassador to South Africa; Senate Confirms Tegbe as Power Minister; Bala Mohammed Eyes Senate Seat
Former Aviation Minister Femi Fani-Kayode announced his appointment as Nigeria's Ambassador-Designate to South Africa — a redeployment he personally requested from an earlier posting to Germany, citing personal and professional considerations, following President Tinubu's approval. The Senate confirmed Tegbe as Nigeria's new Minister of Power — a critical portfolio as Nigeria battles its chronic electricity crisis. Bauchi Governor Bala Mohammed formally picked up the Allied Peoples Movement nomination form for the Bauchi South Senatorial District seat in the 2027 elections — in a move that reshapes his political positioning. FCMB opened interest-free loan applications of ₦5 million and ₦10 million for women entrepreneurs as part of its gender-focused financial inclusion drive.
🎓 Education & Examinations
07
NECO to Go Fully Computer-Based in 2026; Talent Scarcity Debate: Rejoinder to Moniepoint CEO Fired; BBNaija Season 11 Teased
Education Minister Dr. Tunji Alausa announced at NECO's 25th anniversary celebration in Abuja that the National Examinations Council will commence full computer-based examinations in 2026 — a modernisation push aimed at curbing exam malpractice. The announcement comes after JAMB's successful CBT implementation. In the ongoing talent debate sparked by Moniepoint CEO Tosin Eniolorunda's "global standard" remarks, a strongly-worded rejoinder was published this week challenging the framing and calling for structural investment in workforce development. BBNaija teased the return of Season 11 and opened its audition process, generating enormous excitement among Nigeria's largest reality TV audience.
⚡ Energy & Economy
08
Petrol Prices Under Upward Pressure as Crude Soars; Coalition Faults NNPC China Refinery Deal; UAE Exits OPEC
Petrol pump prices in Nigeria face renewed upward pressure this week as global crude oil prices continued to climb — complicating the downstream deregulation story just as consumers were beginning to see modest relief. A coalition of civil society groups formally faulted the NNPC's refinery deal with Chinese firms, demanding transparency and accountability in the terms. The UAE's shock exit from OPEC was the subject of major editorial analysis in Nigerian newspapers, with analysts debating implications for cartel pricing power and Nigeria's own production targets. Sycamore's ₦3 billion commercial paper was oversubscribed by 230%, closing at ₦6 billion — a sign of strong institutional appetite for Nigerian fixed income at current yields.
🏗️ Governance & State News
09
Ekiti Cabinet Donates ₦100m for Oyebanji's Re-election; Tinubu Saves Uzodimma from PGF Removal; APC ADC Crisis Deepens
Ekiti State Governor Abiodun Oyebanji received a ₦100 million campaign boost from his cabinet members ahead of the June 20, 2026 governorship election, as he urged voters to use their votes to "secure continuity." A revolt against Imo State Governor Hope Uzodimma as PGF chairman was quelled after President Tinubu personally intervened to defuse the tension among APC governors. The ADC court crisis continued to deepen after a Federal High Court granted indefinite adjournment in the Nafiu-Bala Gombe suit challenging David Mark's leadership. Former ADC members — including ex-senate chief whip figures — defected to the NDC in Edo, further fragmenting the opposition landscape. NDC zoned its 2027 presidential ticket to Southern Nigeria for a single four-year term.
🌍 Global & Tech
10
LinkedIn Under Data Investigation; Lateef Adedimeji Welcomes Triplets; Fuji Icon Pasuma Becomes Grandfather
LinkedIn faces a formal complaint over its alleged sale of user data to third parties — a development with major implications for Nigeria's growing professional network of over 12 million LinkedIn users. Elon Musk launched a tirade against French judicial authorities investigating possible abuses on his X social network. Nollywood actor Lateef Adedimeji announced the arrival of triplets — "A love so big it became three" — in an emotional post that generated overwhelming social media warmth. Fuji music icon Pasuma also welcomed a grandson this week. Actress Bimpe Akintunde, who recently announced the end of her marriage, received an outpouring of support from fans. The Obi–Kwankwaso alliance continued to reshape northern political calculations ahead of 2027, with analysts warning of defections that could significantly alter the national opposition landscape.
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