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CBN Governor, Cardoso calls for stronger economic ties with middle east

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Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, has called for stronger economic ties with the Middle East and the Nigerian diaspora community in the region.

Mr. Cardoso made the call during a meeting with Talal Al-Humond, the Assistant Governor for Monetary Affairs, Saudi Arabia Central Bank.

It was on the sideline of the just-concluded inaugural Conference on Emerging Markets Economies organised by the Ministry of Finance, Saudi Arabia, and the International Monetary Fund (IMF) Regional Office in Riyadh.

Cardoso in a statement by issued by CBN’s Corporate Communications Department on Monday in Abuja, said there were lessons to be learnt from Saudi Arabia in terms of infrastructure development and tourism.

According to him, Saudi Arabia’s dedication to diversifying its economy through innovative environmental projects, large-scale transformation, and tourism investment is essential for development.

He also reaffirmed his dedication to collaborating with the Nigerian Diaspora community in the Middle East to improve remittance flows and strengthen Nigeria’s financial sector.

He said that the CBN would continue enhancing macroeconomic fundamentals to establish an enabling environment that would facilitate the growth of the private sector and the generation of high-quality jobs.

Meanwhile, during a panel discussion, Cardoso cited reforms in the financial markets that addressed distortions in the Nigerian foreign exchange market.

He said that the market had previously experienced a gap of up to 60 per cent between the official and parallel market exchange rates.s

Cardoso said that due to consistent policy direction, improved market confidence, and enhanced transparency in forex trading, the gap had significantly narrowed to approximately about five per cent.

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He highlighted the adoption of an electronic matching system to improve transparency in the market.

The CBN governor said that there was also the newly introduced foreign exchange code of ethics, which all Nigerian banks signed to ensure adherence to market rules.

“As a result of these measures, the country’s foreign reserves have exceeded 40 billion dollars, marking the highest level in nearly three years.

“Nigeria has faced significant economic challenges, including capital flow exits, multiple exchange rate regimes, currency depreciation, high inflation, and a backlog of foreign exchange transactions.

“They led to a loss of confidence in the country’s currency, ” he said.

Talal Al-Humond assured the CBN governor that the Saudi Central Bank would work with him to ensure the attainment of mutually beneficial objectives.

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New Terror Group ‘Mahmuda’ Wreaks Havoc In North Central

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A new terrorist group known as Mahmuda has emerged in Nigeria’s North Central region, launching deadly attacks on communities surrounding the Kainji Lake National Park (KLNP), according to local sources and a report by Sahara Reporters.

The group, which operates with impunity in the national park spanning Kwara and Niger states, has besieged villages in Kaiama and Barutein Local Government Areas (LGAs) in Kwara, as well as Babana and Wawa districts in Borgu LGA, Niger State. On Wednesday, Mahmuda militants attacked a vigilante group in Kemanji, Kwara, killing over 15 vigilantes and villagers, a source confirmed.

“They call themselves the Mahmuda group. Their leader, in a voice note, is threatening all the communities. They kill, kidnap victims, and demand ransom,” a local source told Sahara Reporters.

The KLNP, covering 3,970.29 square kilometres, has become a haven for the militants, who reportedly displaced park rangers over five years ago.

Sources trace the group’s origins to Mokwa LGA in Niger State, from where they were expelled by former Governor Muazu Babangida Aliyu, who accused them of being Boko Haram affiliates.

The group then relocated through various regions, including Kaduna State, before entrenching themselves in the KLNP.

A recent audiotape from the group’s leader suggests they are a moderate Islamist sect that splintered from the extremist Boko Haram faction led by Abubakar Shekau.

The militants, who primarily speak Hausa, identify as the Mahmuda or Mallam Group and claim to be jihadists promoting Sunni Islam.

The Mahmuda group has imposed a reign of terror on local communities.

Herders pay dues to graze cattle, farmers pay levies to access farmland allocated by the militants, and residents are forced to work on the group’s farms as “sadaka” (charity).

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The militants also kidnap locals for ransom, mount illegal roadblocks, and regulate social activities, banning alcohol sales and smoking while settling community disputes.

“They preach Islamic ethics, urge disloyalty to the Nigerian state, and insist disputes be reported to them,” a source said, adding that the group is recruiting locals as informants.

Unconfirmed reports suggest the militants are engaged in illegal mining within the park and threaten herbalists suspected of aiding vigilantes.

In a bid to consolidate control, the group has expelled bandits from the park, kidnapping or executing their collaborators after collecting ransoms.

The rise of Mahmuda highlights Nigeria’s growing insecurity, with ungoverned spaces like the KLNP enabling militant groups to thrive.

Loggers, fishermen, and hunters exploit the park’s resources, with some loggers reportedly negotiating with the militants to harvest trees, providing the group with revenue.

“The surge of insecurity in Nigeria is a source of concern due to its destructive impact on livelihoods,” a source noted.

“New militant groups continue to emerge and occupy ungoverned spaces.”

Locals suspect the authorities are aware of the group’s activities but have failed to act, possibly due to the militants’ sophisticated weaponry. Vigilante groups, frustrated by the lack of security intervention, have resorted to collaborating with Mahmuda to rescue kidnapped victims, further complicating the situation.

The Mahmuda group’s control over a vast swathe of Nigerian territory underscores the challenges facing the country’s security forces. With communities living at the mercy of the militants, the group’s blend of coercion, religious rhetoric, and economic exploitation poses a significant threat to stability in the region.

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As Nigeria grapples with this emerging menace, questions remain about the group’s true origins and affiliations. Some locals speculate the militants may have ties to groups from Benin or Niger Republic, while others see parallels with Boko Haram’s tactics. Further investigation is needed to unmask this faceless group and address the crisis in the KLNP.

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Easter: Caleb Danladi Foundation Celebrates Ham Community, Urges Unity At Tuk-Ham Day

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By Israel Bulus, Kaduna

The Caleb Danladi Foundation has called on the Ham people to embrace unity, cultural pride, and community-driven development as they mark this year’s Easter and Tuk-Ham Day celebration on Saturday.

In an Easter goodwill message signed by the Founder, Capt. Caleb Danladi, the Foundation emphasized the significance of the season as a symbol of hope, renewal, and the enduring triumph of light over darkness.

“As we gather in this sacred season of Easter, the Caleb Danladi Foundation extends warm wishes of peace, love, and renewal to all our friends, partners, and the entire Ham community,” the statement read.

Caleb emphasized that the Tuk-Ham Day celebration, offers a unique opportunity for the people of Hamland to reflect on their shared history, cultural values, and aspirations.

“Tuk-Ham Day is more than a celebration. It is a reminder of who we are—a resilient, proud, and culturally rich people.

“As we mark Easter and this special day, we must recommit ourselves to preserving our heritage and empowering the next generation,” he said.

He added that the Foundation remains committed to supporting youth empowerment initiatives and cultural preservation efforts across Southern Kaduna.

“Our youth are the heartbeat of our future. We must invest in their education, leadership, and entrepreneurial capacity. That is why the Caleb Danladi Foundation is supporting platforms that raise leaders, thinkers, and doers from our communities,” he stated.

Several dignitaries, traditional rulers, and members of the Ham diaspora are expected to be present at the event, to featured cultural displays, musical performances, and community development dialogues.

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Tuk-Ham Day is an annual celebration observed by the Ham people of Southern Kaduna, Kaduna State. It is a cultural renaissance that brings together sons and daughters from across the globe to celebrate their identity and build a stronger community.

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CSOs Praises Tinubu, Matawalle,NSA ,security forces for 90% drop in insecurity

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A coalition of 774 civil society organisations has lauded President Bola Tinubu, Minister of Defence, National Security Adviser Mallam Nuhu Ribadu, and Nigeria’s security forces for their “remarkable progress” in curbing insecurity across the country, claiming a 90% reduction in violence and unrest.

In a statement issued on Friday, the coalition’s publicity secretary, Michael Chukwuma, hailed the administration’s achievements.

He stated that : “In just two years, this government has accomplished what previous administrations failed to do in decades.”

He highlighted restored peace in regions like Kaduna and the Northeast, where farmers have returned to their fields, travellers move freely, and communities feel safer.

He said within two years,bandit commanders and lieutenants, including the following, were killed:Halilu Sububu, Ali Kawajo, Dangote Kachallah, Murus Dan Tsoho, Mino Kachallah, Barumi Kachallah, Jafaru Kachallah, Kachallah Maibuhu Yellow, Yellow Dan Tsoho, Kachallah Dan Muhammadu, and Kachallah Makarko.

Others include Kachallah Hassan Yellow, Kudairu Kachallah, Kachallah Dan Baburki, Kachallah Mai Jankai Dan Auta, Kachallah Dan Isihu, and Kachallah Mati.The troops also eliminated thousands of their members.

In light of these achievements, we commend the federal government and encourage them to continue their efforts.Changes made:

Chukwuma described the security forces and leadership as “patriots who forgo sleep so we may rest in peace,” urging Nigerians to support their efforts rather than criticise them.

He accused detractors of undermining progress for ulterior motives, questioning their silence during past administrations when insecurity was rampant.

“Their complaints today ring hollow,” he said.

The coalition called for collective action, stressing that combating insecurity is not the government’s burden alone.

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“Every Nigerian has a role to play,” Chukwuma said, urging citizens to report suspicious activities and foster unity.

He also called on state governors to prioritise citizens’ welfare over personal luxury, particularly in states like Zamfara, where hunger and fear persist.

The group encouraged Nigerians to hold leaders accountable while supporting their efforts to build a safer nation.

“Together, we can ensure every road is safe, every farm thrives, and every child dreams without fear,” Chukwuma said .

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