• Supreme Court dismisses suit against Tinubu, fines ex-presidential candidate ₦5m
• Inflation rises to 34.6% as food prices continue increasing
• Burkina Faso, Mali and Niger announce visa-free travel and residency rights to ECOWAS states
• Tinubu promises that the tax reforms will promote equity
• EFCC arrests 792 people suspected to be cyber-fraudsters in Lagos

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

Supreme Court dismisses suit against Tinubu, fines ex-presidential candidate ₦5m

The Supreme Court dismissed a suit filed by an ex-presidential candidate, Ambrose Owuru, and fined him ₦5 million for submitting a frivolous suit against President Bola Tinubu.

Ambrose Owuru had contacted the Supreme Court, requesting President Tinubu’s removal from office under Section 157 of the 1999 Constitution.

In the suit, the former presidential candidate claimed that the Nigerian president, Bola Tinubu, was under the control of foreign powers as he (Tinubu) had been called an active agent of the CIA.

Inflation rises to 34.6% as food prices continue increasing

The inflation in Nigeria has only gotten worse as it surged to 34.60% from 33.88% in October 2024.

Nigerian agencies had predicted that inflation would reduce within the next six months; however, this sudden increase in inflation mirrors Nigeria’s economic challenges.

The increase in inflation is primarily caused by rising food prices, which continue to burden Nigerian households. On a month-to-month basis, the headline inflation rate showed a slight slowdown, at 2.638% in November compared to 2.640% in October.

Burkina Faso, Mali and Niger announce visa-free travel and residency rights to ECOWAS states

The three African states currently under military rule, Burkina Faso, Mali and Niger, have all announced that despite their exit from the Economic Community of West African States (ECOWAS), they would still permit visa-free travel and residency rights to all citizens of the 15 member-states of ECOWAS.

This announcement was made as a gesture of good faith, friendship, and an effort to strengthen the centuries-old relationship between African people.

Burkina Faso, Mali and Niger have revealed that they would exit ECOWAS by January 29, 2025, for imposing inhumane and irresponsible coup sanctions on them while failing to address their internal challenges.

Tinubu promises that the tax reforms will promote equity

President Bola Tinubu has pledged that his four Tax Reform Bills will promote equity among all states in the country.

He claimed that the Northern leaders have vehemently resisted the tax reforms, which are aimed at boosting Nigeria’s revenue.

Represented by the Director General of the Nigeria Institute of Peace and Conflict Resolution, Dr Joseph Ochoku, the President said, “These reforms, when enacted, promise to streamline tax administration, enhance revenue generation, and promote equitable resource allocation.” 

EFCC arrests 792 people suspected to be cyber-fraudsters in Lagos

The Economic and Financial Crimes Commission (EFCC) has proudly announced the arrest of 792 criminals alleged to be involved in romance scams and cyber and cryptocurrency investment fraud.

The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, revealed that 193 foreign suspects were among 792 individuals caught at the seven-storey Big Leaf Building on No. 7 Oyin Jolayemi Street, Victoria Island.

During a press conference at the Lagos Zonal Directorate of the Commission, Olukoyede, represented by the Director of Public Affairs, EFCC, Wilson Uwujaren, stated that the 193 foreigners were 148 Chinese, 40 Filipinos, two Kazakhstani citizens, one Pakistani, and one Indonesian.