- Senate calls on DSS, NSA, NIA over allegations of USAID terrorism funding
- FG moves to restrict 60,000 fuel tankers from moving on roads
- CBN investigates 19.7 million dormant bank accounts
- FG files $81 billion suit against Binance
- NMDPRA reveals NNPCL and Dangote refineries produce below 50% of Nigeria’s fuel demand
Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.
Senate calls on DSS, NSA, NIA over allegations of USAID terrorism funding
The Senate has called upon the National Security Adviser (NSA), Nuhu Ribadu, along with the leaders of security intelligence agencies, to investigate the claims made by U.S. Congressman Perry Scott. He alleged that the United States Agency for International Development (USAID) has been financing terrorist groups, including Boko Haram.
Senator Mohammed Ndume, who represents Borno South Senatorial District, raised concerns, urging the Senate to take these allegations seriously and to conduct a thorough inquiry.
Senate President Godswill Akpabio supported the resolution but claimed that national security matters are best discussed privately. He stated that intelligence officials could provide the Senate with a clearer understanding during a private briefing.
FG moves to restrict 60,000 fuel tankers from moving on roads
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has implemented a ban on 60,000-litre fuel tankers from operating on Nigerian roads starting on March 1, 2025. This action aims to address the rising incidents related to trucks in transit, some of which have resulted in devastating fires and fatalities.
Ogbugo Ukoha, Executive Director for Distribution Systems, Storage, and Retailing Infrastructure at NMDPRA, explained that this decision stems from the growing number of accidents involving large petroleum tankers.
Additionally, the agency indicated that from the fourth quarter of 2025, no trucks with a capacity greater than 45,000 litres will be allowed to load petroleum products.
“This decision is significant because, for the first time, a consensus has been reached among all stakeholders, and we will continue to strive for a collaborative approach to ensure the safe transportation of petroleum products across the country,” Ukoha stated.
CBN investigates 19.7 million dormant bank accounts
According to the industry customer account database published by the Nigeria Inter-Bank Settlement System, there are over 19.69 million dormant bank accounts in Nigeria.
The data, which monitors monthly account activity throughout 2024, shows a continuous increase in inactive accounts, which aligns with new regulations from the Central Bank of Nigeria. These regulations mandate commercial banks to disclose information about dormant accounts.
The directive from the CBN aims to enhance transparency and facilitate the return of unclaimed funds to their rightful owners, addressing concerns over numerous accounts that have been inactive for long periods.
FG files $81 billion suit against Binance
The Nigerian Federal Government has launched a new legal action against Binance Holdings Limited in a Federal High Court, seeking a total compensation of $81 billion for economic damages and tax evasion.
The Federal Inland Revenue Service (FIRS) filed the lawsuit, demanding a penalty of $79 billion for economic losses, $2 billion in unpaid income taxes, and ₦231 million for financial damages incurred by Nigeria due to Binance’s activities.
The FIRS claims that Binance, along with its executives Tigran Gambaryan and Nadeem Anjarwalla, contributed to the economic losses in Nigeria by not registering its cryptocurrency operations with the agency.
NMDPRA reveals NNPCL and Dangote refineries produce below 50% of Nigeria’s fuel demand
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that the country’s three active refineries provide less than half of the daily petrol consumption.
At a press conference in Abuja, NMDPRA Chief Executive Farouk Ahmed revealed that the agency, functioning under the Petroleum Industry Act 2021 guidelines, has been issuing import licenses. He noted that Nigeria would likely face a fuel shortage without these imports.
