• Nigeria’s debt profile set to mark ₦138trn as Tinubu seeks new ₦1.8trn loan
• CBN alerts Nigerians against using fake SWIFT messages during FX transfers
• Four Nigerian students imprisoned in UK for violent street fight
• Dangote Refinery begins exporting fuel to West African countries
• Agboola Ajayi breaks silence after defeat to Lucky Aiyedatiwa in the Ondo Gubernatorial election

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

Nigeria’s debt profile set to mark ₦138trn as Tinubu seeks new ₦1.8trn loan

Nigeria’s debt grows further as President Bola Tinubu requested a fresh loan of ₦1.8 trillion ($2.2 billion), raising the country’s debt profile to ₦138 trillion.

President Bola Tinubu has requested that the National Assembly approve his $2.2 billion external loan to support the 2024 budget in a letter written to the Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas.

In 2024, Nigeria borrowed a total of ₦7.83 trillion, with ₦6.06 trillion identified as domestic loans and ₦1.77 trillion, external loans. The fresh loans comprise Eurobonds and Sukuk offerings, valued at $1.7 billion and $500 million, respectively.

CBN alerts Nigerians against using fake SWIFT messages during FX transfers

The Central Bank of Nigeria (CBN) has warned Nigerians against using fake SWIFT messages during foreign exchange transactions.

In a statement signed by the acting director of the corporate communications department, Hakama Sidi-Ali, the CBN said, “It has become imperative to state that the SWIFT ack copy and SWIFT MT103 that these claimants usually attach as evidence of remittance to beneficiary banks in Nigeria are not reliable.”

SWIFT messages are sent through the Society for Worldwide Interbank Financial Telecommunications network to provide access to transactions between banks and financial institutions.

Four Nigerian students imprisoned in UK for violent street fight

Four Nigerian students, identified as Destiny Ojo, Joshua Davies-Ero, Ridwanulahi Raheem, and Habib Lawal, all aged 21, were caught with knives, a baseball bat, and a crutch as weapons in a street fight in the United Kingdom.

The boys were all found guilty after a six-week trial in the Leicester Crown Court, sentencing the boys to jail.

Ojo was sentenced to seven years imprisonment for violent disorder, attempted grievous bodily harm, and committing grievous bodily harm with intent, Raheem to a three-year prison sentence for violent disorder and possession of a bladed article, Lawal was jailed for five years for violent disorder, attempted grievous bodily harm, and committing grievous bodily harm with intent.

Dangote Refinery begins exporting fuel to West African countries

Dangote Refinery has started exporting its fuel products to other West African countries, branding itself as a regional oil marketer.

A report by Bloomberg revealed that a tanker with a shipment of gasoline from the Dangote  Refinery has set off for Togo, a West African country to sell its product to willing buyers interested in doing business with the Nigerian refinery.

Agboola Ajayi breaks silence after defeat to Lucky Aiyedatiwa in the Ondo Gubernatorial election 

Peoples Democratic Party (PDP) Ondo State gubernatorial candidate Agboola Ajayi has spoken out since his defeat to APC’s Lucky Aiyedatiwa, stating that he did not accept the results published by INEC.

The defeated candidate claimed that he would seek redress at the tribunal, as he believed that the All Progressives Congress (APC) and Independent National Electoral Commission (INEC) had manipulated the election results, giving the crown to Aiyedatiwa when he may have won the election.

“Elections conducted by INEC since the APC assumed power in 2015 have continued in the tradition of hijacking the process and delivering results that are diametrically in contrast with expressed electoral desires,” Ajayi stated.