• CBN retains interest rate at 27.5%
• Teenager killed by stray bullet in Ibadan on way to exam
• EFCC hands over 753 duplexes linked to Emefiele to Housing Ministry
• Tinubu defends emergency declaration in Rivers, cites governance breakdown
• Lagos closes five orphanages over child rights violations

Across Nigeria’s 36 states and the Federal Capital Territory, these are the top five Nigerian news stories you shouldn’t miss.

CBN retains interest rate at 27.5%

The Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5%, following the 300th meeting of its Monetary Policy Committee (MPC).

CBN Governor Olayemi Cardoso announced the decision on Tuesday, stating that the committee unanimously agreed to keep the rate unchanged to better assess short-term economic developments.

The cash reserve ratio (CRR) and liquidity ratio were also retained at 50% and 30% respectively. Cardoso noted improvements in key macroeconomic indicators, which are expected to help ease economic pressures.

Teenager killed by stray bullet in Ibadan on way to exam

The Oyo State Police Command has confirmed the death of 14-year-old Kehinde Alade, who was struck by a stray bullet on Tuesday in the Gbagi area of Ibadan.

Kehinde was reportedly heading to sit for the ongoing WASSCE, accompanied by his twin brother and father, when the incident occurred along Gbagi market road in Egbeda LGA.

According to police spokesperson Adewale Osifeso, officers were on a joint traffic enforcement operation with Oyo State Traffic Management Authority (OYTMA) when they attempted to stop a car driving against traffic. The car, a black Honda Accord (LAGOS FST 639 JJ), was being driven by Kehinde’s father, Odunayo.

EFCC hands over 753 duplexes linked to Emefiele to Housing Ministry

The Economic and Financial Crimes Commission (EFCC) has handed over 753 uncompleted duplexes, linked to former CBN governor Godwin Emefiele, to the Ministry of Housing and Urban Development.

EFCC Chairman, Ola Olukoyede, transferred the forfeited estate to Housing Minister Ahmed Dangiwa on Tuesday. The estate, located in the Lokogoma area of Abuja, is now under the ministry’s control following a directive from President Bola Tinubu.

Dangiwa said the buildings would be completed and allocated to the public through a transparent and accountable process. He also noted that a full structural assessment and infrastructure upgrade would be conducted to ensure the estate is safe and livable.

Tinubu defends emergency declaration in Rivers, cites governance breakdown

President Bola Ahmed Tinubu has told the Supreme Court that Rivers State lacked a functioning government when he declared a state of emergency there on March 18, 2025.

In an affidavit filed with the apex court, Tinubu said the move was necessary to prevent a breakdown of law and order due to a prolonged crisis between the state’s executive and legislature.

The affidavit, submitted alongside the Attorney-General of the Federation, Prince Lateef Fagbemi (SAN), Rivers State Administrator Admiral Ibok-Ete Ibas, and suspended Governor Siminalayi Fubara, described the situation as an “intractable conflict” posing a serious threat to public safety.

Lagos closes five orphanages over child rights violations

The Lagos State government has shut down five orphanages in the past year due to baby trafficking and violations of the Child Rights Law of 2015.

Mobolaji Ogunlende, Commissioner for Youth and Social Development, announced this during a press briefing on Tuesday in Ikeja to mark Governor Babajide Sanwo-Olu’s second year in office.

He said the move is part of efforts to protect children and stop illegal activities in care homes. “We won’t tolerate any facility involved in harmful practices like baby trafficking. We have the records,” he added.

Ogunlende also noted that the ministry has a monitoring team that ensures all orphanages follow the rules and put children’s welfare first.