TWN NEWS
Lagos, Nigeria
News Roundup
🎉 Happy Birthday Dr. Mrs. Omobonike Odegbami-Leigh! 🎉
TWN News is delighted to celebrate this extraordinary woman — a Veteran. Leader. Mentor. Scholar. Inspiration. — on her special birthday today, August 14th. As featured on the cover of Elevate Magazine's August 2026 Special Birthday Edition, Dr. Mrs. Omobonike Odegbami-Leigh embodies a purpose-driven life of impact. From military service to academic leadership, hers is a journey of resilience, excellence, and unwavering faith. Beauty. Intelligence. Integrity. Courage. — she lives them all. She served. She leads. She elevates. May this new year of your life be filled with abundant blessings, radiant health, peace, and even greater impact. We celebrate you today and always! 🙏🥂👑
NGX Opens Week at Record ₦160.4 Trillion Before Profit-Taking Kicks In — YTD Still +56.28%
The Nigerian Exchange opened the week in spectacular fashion on Monday, August 10, with market capitalisation rising 1.20% to ₦160.421 trillion and the All-Share Index advancing 2,956.15 points to close at 248,529.75 — the exchange's highest-ever market cap. The market's year-to-date return reached 59.71%, driven by buying interest in Fortis Global Insurance, Chams, NAHCO, Airtel Africa and Sovereign Trust Insurance. However, profit-taking in mega-cap stocks on Tuesday wiped N1.17 trillion off market value, with MTN Nigeria shedding 4.73% to ₦805 and Dangote Sugar falling 4.11%. By Thursday, the ASI settled at 243,017.38 with market cap at ₦156.88 trillion as selling pressure persisted. Despite the mid-week retreat, the prior week's close of 245,573.60 reflected a YTD return of 57.81% — still one of the world's strongest equity market performances in 2026. AVA Capital emerged the week's biggest gainer at +33.33%, followed by FCMB Group (+13.10%) and FirstHoldCo (+12.23%).
NRS Reports Economy Fully on Recovery Lane; AfCFTA Adopts Nigeria's Customs Model; Airtime Credit Changes Ahead
The Nigeria Revenue Service's 2023-2026 report confirms the economy is fully on a recovery lane, with strong indicators across revenue mobilisation, export growth, and fiscal discipline. President Tinubu hailed the AfCFTA's adoption of Nigeria's customs modernisation model as a landmark recognition of Nigeria's trade leadership on the continent — a development that positions Nigeria as a standard-bearer for African trade facilitation. In a development affecting millions of mobile users, regulatory changes are expected to affect airtime credit service costs, with analysts warning consumers to prepare for higher charges. The Nasarawa State Government also confirmed the N44 billion Mararaba-Nyanya flyover will be ready by December 2026, marking a major infrastructure delivery for the FCT satellite region.
Osun Governorship Election Holds Today — Stakeholders Call for Peace at the Polls
As the people of Osun State vote today, Saturday August 15, INEC and all stakeholders have been reminded that an election is a democratic contest, not a war. The incumbent Governor Adeleke faces a tough challenge from APC and ADC candidates in what is being described as one of the most consequential state elections of 2026. Atiku Abubakar urged voters to elect the ADC's Adeleke, while the Kabiru Turaki-led PDP faction endorsed Accord Party's Adeleke — reflecting the complex factional dynamics at play. Governors Oyebanji and Ododo met with Senator Omisore for last-minute APC consultations. The Governor's wife also led a women's protest for a peaceful poll. TWN News urges all Osun residents to vote peacefully and return home safely. Every vote counts. 🗳️
Tinubu Approves Military Pay Rise; Vows No Negotiation With Terrorists; Interfaith Peace Summit Holds
President Tinubu approved a pay rise for the Nigerian Armed Forces this week — a welfare boost widely welcomed as long overdue given the enormous sacrifices of Nigeria's military personnel. The President also reiterated his uncompromising stance against negotiating with kidnappers and terrorists, declaring Nigeria would never pay ransom or release detained criminals to secure hostage releases. In a sign of Nigeria's growing role in regional religious diplomacy, the Muslim World League Secretary-General arrived Nigeria for an Interfaith Peace Summit — a significant gathering aimed at fostering dialogue and reducing religiously motivated violence. Tinubu also hailed AfCFTA's adoption of Nigeria's customs modernisation model at the Nigeria Diaspora Economic Conference in Toronto, where he was represented by senior officials.
Army, DSS Arrest Kidnap Kingpin in Enugu; Niger Police Recover 9 Bodies; PTI Attack Rocks Delta
The Army and DSS arrested a suspected kidnap kingpin and recovered four AK-47 rifles in an Enugu forest in a significant counter-kidnapping operation. Niger State Police Command arrested 147 suspects in raids across the state, recovering weapons and cannabis. Police in Niger State also confirmed the recovery of nine dead bodies on the Wawa-Lumma road in Borgu Local Government Area — a grim reminder of the dangers on Nigerian highways. In Delta State, the government suspended the Works Commissioner following an attack on the Petroleum Training Institute. A farmer also died in a kidnapp
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