• FG denied allegations made against it by Binance executive
• Osun monarch charged with alleged Covid-19 fraud in the US
• Police rescue seven from a trafficking ring in Ogun State
• IMF reports Nigeria’s economy downturn as GDP drops by 72%
• Yoruba Imams and Alfas reveal start date of Ramadan

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

FG denied allegations made against it by Binance executive

Binance executive Tigran Gambaryan faced backlash from the Federal Government and two House members after alleging that National Security Adviser Nuhu Ribadu and others sought a $150 million bribe during an investigation. 

Minister of Information Mohammed Idris called the allegations outrageous, while Deputy Spokesperson Philip Agbese deemed them unfounded and issued a seven-day ultimatum for retraction or legal action.

Gambaryan, a US citizen, was arrested in Nigeria in February 2024 and charged with laundering $35.4 million, which he and Binance deny.

Osun monarch charged with alleged Covid-19 fraud in the US

Concerns are rising in Ipetumodu regarding the situation of Oba Joseph Olugbenga Oloyede, the Apetu, as community members and residents are urging Osun State Governor Ademola Adeleke to intervene and shed light on the mystery surrounding his disappearance.

Oba Oloyede, an accountant and information system expert in the United States, was appointed Apetu in July 2019. 

Recent information indicates that the king, who was last seen in his community in March 2024, has been detained by US authorities due to his alleged involvement in a COVID-19 fraud scheme alongside an individual named Oluwasanmi. This resulted in his absence, as the US government denied him the right to travel.

Police rescue seven from a trafficking ring in Ogun State

The Ogun State Police Command has rescued seven individuals from a suspected human trafficking ring in the Oja-Odan area of Yewa North Local Government Area.  

Omolola Odutola, the command’s spokesperson, confirmed that security personnel saved the seven victims after stopping a white Volkswagen bus believed to be transporting them along the Oja-Odan/Ohunbe Road on Monday, February 12, 2025.  

The police disclosed that the victims, aged between 18 and 25, were reportedly en route to the Republic of Gambia when the authorities intervened.

IMF reports Nigeria’s economy downturn as GDP drops by 72%

The International Monetary Fund (IMF) has announced that Nigeria’s economic situation has deteriorated, with its GDP per capita plummeting by 72.35%.

According to data from the IMF’s website, Nigeria’s GDP per capita decreased significantly from $3,022 in 2014 to only $835.49 in 2024, indicating a severe reduction in the average economic output per individual.

Moreover, the country’s overall Gross Domestic Product—representing the total value of goods and services produced—also experienced a dramatic decline, dropping from $568.5 billion in 2014 to $194.96 billion in 2024, a disappointing reduction of 65.71%.

Yoruba Imams and Alfas reveal start date of Ramadan

The League of Imams and Alfas in Yorubaland, Edo, and Delta has announced that the Ramadan fasting period 2025 will start on Friday, March 1. This information was shared through the office of the Grand Mufti of Yorubaland.

The announcement is part of the Raabitah report for the year 1446 AH (2025) and was issued by the Grand Mufti’s office in a statement dated Thursday, February 13, 2025.

The group indicated that the tarawih prayer will be held on Friday evening, February 28, with Ramadan fasting commencing on Saturday, March 1, 2025. The statement also noted that this schedule is consistent with 98% of Muslims globally.