Osi nacho passed away in April 2022 after allegedly being be@ten by her husband, Peter Nwachukwu.
The High Court of the Federal Capital Territory (FCT), Wuse Zone 2, Abuja, has sentenced Peter Nwachukwu, the husband of late gospel singer Osinachi, to de*th by hanging after finding him guilty of culpable homicide in connection with her death on April 8, 2022.
The court pronounced the sentence on Monday during a ruling delivered by Justice Nwosu-lheme after the court had held that the prosecution had proven the burden of proof placed on it by the law and subsequently found the defendant guilty.
Osinachi passed away in April 2022 after allegedly being be*ten by her husband, Peter Nwachukwu.
While initial reports claimed she died from cancer, testimonies from family, church members, and neighbours revealed that she was a victim of domestic violence.
Witnesses stated that Nwachukwu kicked her in the chest prior to her de*th.
This led to Nwachukwu’s arrest, and he was arraigned on June 3, 2022, by the Office of the Attorney-General of the Federation (OAGF), representing the Federal Government.
He faced a 23-count charge, including culpable homicide (punishable by de*th), cr!minal intimidation, cruelty to children, spousal b@ttery, and other offences.
During the trial, the prosecution presented 17 witnesses, including Osinachi’s two children, who testified as prosecution witnesses. Additionally, 25 documents were submitted as evidence.
Nwachukwu testified in his defence, calling four witnesses and presenting four exhibits.
Before sentencing, Nwachukwu’s counsel, Reginald Nwali, pleaded for leniency, while the prosecuting counsel, Mrs.
Aderonke Imala, urged the court to enforce the law.
In a case that raises serious questions about abuse of office, disregard for due process, and human rights violations, Hon. Chinedu Ogah, member of the House of Representatives for Ezza South/Ikwo Federal Constituency of Ebonyi State, has used the Cybercrime Act as a tool of repression against a 66-year-old activist, Mr. Kindness Jonah.
According to evidence gathered by SaharaReporters, Mr. Jonah has been held in unlawful detention since February 27, 2025, without trial or formal notification to his family—a gross violation of constitutional rights and international human rights standards.
SaharaReporters’ investigation reveals that a team of armed officers from the notorious SARS Abattoir unit in Abuja, led by CSP Ejike Emmanuel, was dispatched to Enugu on February 23, 2025, to apprehend Mr. Jonah. Despite being a federal unit, they failed to report to the Enugu State CID or any local police formation—standard procedure for interstate police operations.
The officers lodged at a hotel and spent four days covertly tracking Mr. Jonah, who was arrested on February 27. Eyewitnesses describe the operation more as an abduction than an arrest. Mr. Jonah was immediately transported to Abuja, bypassing all official channels.
Detention and Secret Charges
Upon arrival in Abuja, Mr. Jonah was detained indefinitely at the SARS Abattoir facility, under the supervision of ACP Victor. During this period, his whereabouts were unknown to his family, who searched tirelessly through police facilities in Enugu with no success.
Meanwhile, police quietly filed charges at the Federal High Court in Abuja, securing May 21, 2025, as an arraignment date—without notifying the accused or his family.
But in a rare twist, the newly appointed FCT Police Commissioner, CP Ajao Saka Adewale, made an unannounced inspection visit to SARS Abattoir on April 11, 2025. Upon discovering the frail and visibly ill Mr. Jonah, CP Adewale ordered his immediate release.
A source told SaharaReporters that after hearing about Mr. Kindness Jonah’s ordeal, the FCT Police Commissioner was visibly upset and ordered the SARS commander, ACP Victor, to release Mr. Jonah. However, according to the source, as soon as the commissioner left, the SARS officials contacted Chinedu Ogah.
It was learnt that within 24 hours of the visit, officers allegedly colluded with Rep. Ogah to defy that order.
Instead of releasing Mr. Jonah, on April 12, 2025, SARS officials took Mr. Jonah to an unknown location, then transferred him to Keffi Maximum Security Prison in Nasarawa State without a court appearance or due process.
SaharaReporters learnt that this was done on the basis of what appears to be a forged detention order from a Wuse Zone 6 Magistrate Court—dated for a Saturday, an unusual and suspicious detail.
Mr. Jonah is now being held pending a fabricated hearing date—April 26, 2025, another Saturday—while awaiting his real court date on May 21.
Visit to Keffi Prison
On April 23, 2025, journalist and whistleblower, Isaac Bristol, also known as ‘PidomNigeria’, visited Mr. Jonah at the Keffi Maximum Security Prison. Though in poor health and visibly weak, the detained activist remains mentally alert and hopeful for justice.
The use of the Cybercrime Act in this instance appears to be a façade for political retribution.
In a two-count charge filed on March 13, 2025, at the Federal High Court, Abuja Judicial Division, E. A. Inegbenoise Esq., representing the Legal/Prosecution Section of the Criminal Investigation Section, FCT Police Command, accused Comrade Kindness Jonah of intentionally referring to Hon. Chinedu N. Ogah as an ex-convict.
This act is alleged to violate Section 24(1)(b) of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024, and is punishable under Section 24(2)(a)(ii) of the same Act.
The charge, marked FHC/ABJ/CR/97/2025, lists the Commissioner of Police, FCT Command, as the complainant and Comrade Kindness Jonah as the defendant.
The counts read: “That you, Comrade Kindness Jonah ‘m’ 66 years old of 22/24, Edinburgh Road, Enugu, Enugu State on diverse dates through the use of computer network in Nigeria, within the jurisdiction of this Honourable Court did commit an illegal act to wit. Cyberstalking, when you knowingly and intentionally accused Hon. Chinedu N. Ogah, OON of being the killer of one Ukamaka Immaculate Ogboji, which you know the content of the various internet posts to be false. You thereby committed an offence contrary to section 24 (1)(b) of the Cybercrimes (Prohibition, Prevention etc.) (Amendment) Act, 2024 and punishable under section 24(2)(a)(i) of the same Act.
“That you, Comrade Kindness Jonah ‘m’ 66 years old of 22/24, Edinburgh Road, Enugu, Enugu Stateon diverse dates through the use of computer network in Nigeria, within the jurisdiction of this Honourable Court did commit an illegal act to wit: Cyberstalking, when you knowingly and intentionally referred to Hon. Chinedu N. Ogah, OON as an ex-convict, which you know the content of the various internet posts to be false. You thereby committed an offence contrary to section 24(1)(b) of the Cybercrimes (Prohibition, Prevention etc.) (Amendment) Act, 2024 and punishable under section 24(2)(a)(ii) of the same Act.”
When SaharaReporters reached out to ACP Victor for a reaction, he declined to comment and directed that the police public relations officer be contacted instead.
“You can contact the police public relations officer. So no comment,” he said.
However, the spokesperson for the FCT Police Command, Josephine Adeh, initially requested time to make inquiries before commenting on the matter, but subsequent attempts to reach her were unsuccessful.
Background
On April 16, SaharaReporters highlighted the unrest in Ihe community, Awgu Local Government Area, over Mr Jonah’s detention. His arrest followed his efforts to challenge the wrongful conviction and death sentence of their son, Ifeanyi Ekoh, for alleged murder.
The case revolves around the brutal killing of seven-year-old Ukamaka Immaculata Ogboji, whose body was dismembered in August 2012. Ogah, a feared and influential politician in Ebonyi State, was reportedly implicated in the ritual murder by suspects arrested by the Department of State Services (DSS).
Despite being in Lagos at the time of the crime and having no ties to Ebonyi State, Ifeanyi Ekoh was convicted of the murder and sentenced to death by the Ebonyi State High Court in 2022. The community asserted that Ekoh had remained in detention despite a strong alibi proving his innocence.
Mr. Jonah, Convener of Voice From The East (VEast), exposed alleged cover-ups in Ekoh’s trial and petitioned Inspector General of Police Kayode Egbetokun to conduct a thorough investigation to identify the actual perpetrators and their sponsors.
Meanwhile, the lawmaker is one of those linked to the killing.
Following his petition, Jonah was grabbed by the police in Enugu on February 27, 2025 and taken to Abuja.
The Sole Administrator of Rivers State, Admiral Ibok-Ete Ibas (retd.), has been urged to clarify his recent appointments of Local Government Sole Administrators and other officials.
Atedo Peterside, President of the ANAP Foundation and Founder of IBTC Bank, stated that the Rivers sole administrator has no authority to come from Cross River State and exacerbate the already tense situation in Rivers State.
He accused Ibas of appointing individuals he described as “riff raffs” to positions of honour in Rivers, challenging him to explain the rationale behind his appointments.
Peterside warned that the people of Rivers will not passively observe as someone from another state undermines their resources and inflames tensions.
In an interview with Arise, he remarked that the Sole Administrator either misunderstood his responsibilities or lacks comprehension of his role. He added that instead of working towards stability and healing in a volatile situation, Ibas may be unintentionally aggravating the conflict.
You see, in every situation, I always believe in giving people time to tell us who they are, what they’re about in effect, before you rush to judgment.
When this Sole Administrator was appointed, please check everywhere. I never made any comment about him, his competence, his integrity or anything. So what has changed?
“What has changed is that I think the Sole Administrator either misread his brief or he has no understanding of what his role is.
“And instead of coming to an inflamed situation with a view to helping to achieve stability and healing, he might be inadvertently adding fuel to the fire.
On a given basis, he’s made some appointments. First of all, he emerged in an irregular manner. I would say the executive were misguided. So he’s a product of the executive being misguided legally, and then the legislator will be introducing rascality to use a voice vote to confirm his appointment.
“That, we all know, a voice vote does not make any sense. It can never prove two thirds, because even in the House of Representatives, we don’t even know how many people were in the room. I saw the TV pictures.
“So here is the man who came in, knows he’s on shifty ground, and what has he done? You know, they say, make some appointments, and I’ll tell you who you are. He’s made some appointments, even at the Rivers State Electoral Commission. He went in there, removed people, made appointments. He then also went to all the Local Governments and appointed Sole Administrators.
So, a man who himself probably has had no proper mandate in a serious country with a serious legal system now decides to add insult to injury. Instead of simply leaving local governments in the hands of the most senior, full-time staff and even reading them the riot act to do the correct thing, he now goes to superimpose people.
“I challenge him to tell the nation through what process he chose those he appointed. Through what process did he make the appointments? Did he advertise the positions? Did he call for nominations? Did he search Rivers State for the most competent, skilled persons of high integrity?
“Like I’ve already said, we know ourselves in Rivers State; you make many appointments from the people you’ve chosen. I can tell you who you are; with due respect for the people he appointed, in my personal opinion, they are riff raffs.
“So a man leaves Cross River State and comes to Rivers State in an inflamed situation. I challenge him to tell the nation what process he used in making the appointments.
“Did he choose people that he knew personally when he was in the Navy? Who did he ask for nominations? When did he produce some of these riff raffs from?
“You’ve got an electoral commission, and you bring in some people that you chose through a method that you can’t explain?
“Please, I challenge him to explain how he chose those persons. Do you want us to accept the elections conducted by some of those people that he chose when we don’t even know how they are mixed?
“And I think that is disrespectful to the people of Rivers State. He should be called to order immediately.
“There should be no mistake whatsoever that we will sit down forever and accept persons being appointed to lord over our state and our resources,” he stated.
When it comes to seeking validation and kneading his ego, Governor Alex Otti is no different from his predecessors.
The Aesopian saying, “Onye ji igu ka ewu n’eso” (Goats obey the man in possession of the palm fronds), coupled with a flurry of sycophantic articles praising him or comparing him to the late Eastern region Premier Michael Okpara and former Imo State Governor Sam Mbakwe, lend credence to this assertion.
Governor Otti seems to relish these anachronistic political tactics, particularly given the substantial resources he allocates to media propaganda and his pursuit of validation from former presidents and their representatives.
Some ludicrous articles by Otti’s supporters on social media read: “Are Ndi Igbo witnessing a reincarnation of Dr Michael Okpara and Dee Sam Mbakwe in Gov. Alex Otti?” “M.I. Okpara + Sam Mbakwe = Alex Otti. This is my answer; you can verify.”
While these fawning write-ups may delude Governor Otti into believing he is on a pedestal, they obscure the realities around him and turn him into a public spectacle.
M.I. Okpara was a colossus whom none of the past and current South-East governors could untie his shoelace. There is no appropriate scale on which to compare Okpara and Otti.
Okpara was the second premier of the defunct Eastern region, which encompassed nine states: Anambra, Imo, Abia, Enugu, Ebonyi, Rivers, Bayelsa, Cross River, and Akwa Ibom.
During his less-than-six-year administration, Okpara built high-quality roads across the eastern region and established many companies, including Golden Guinea Breweries, a ceramics factory, and a brick factory in Umuahia.
He also set up facilities for producing corrugated iron sheets in Port Harcourt, asbestos roofing sheets, ceiling boards, and pipes in Enugu, as well as metal doors and window frames in Port Harcourt. He developed rice farms in Abakaliki and Adani.
Using agriculture as the foundation for both micro and macroeconomic growth, Okpara leveraged the platform of the Eastern Nigeria Development Corporation (ENDC) to create farm settlements for oil palm, rubber, cocoa, cashew, and rice, incorporating intercropping with pineapples, bananas, plantains, and cassava.
He built and equipped the University of Nigeria, Nsukka, and developed infrastructures, companies, and institutions across the region, using proceeds from agriculture.
Okpara’s agricultural, educational, industrial, and infrastructure revolutions led Michigan State University to rank the Eastern Region as the fastest industrialising economy in the world by 1964, ahead of the Asian Tigers – Malaysia, Singapore, Korea, and Taiwan.
This is the man whom Otti’s supporters dare to compare with a governor who, aside from patching, retrofitting, and expanding the roads built by Okpara and Mbakwe, has not achieved anything, despite receiving ₦21 billion in monthly federal allocations.
While Okpara utilised an agricultural and industrial revolution to build the eastern region’s economy, Governor Otti is relying on nonexistent agricultural and infrastructure projects – ₦6.5 billion for recreational facilities, ₦68 billion for school projects, ₦1.6 billion for agricultural facilities, ₦10 billion for research facilities, ₦3 billion for an ICT centre, and ₦7 billion for women’s development – to withdraw billions from Abia’s funds.
Okpara did not use proxies or relatives to acquire filling stations and hotels, nor did he own any property except one built for him in his Umuegwu village by friends after his retirement.
I won’t even delve into Dr Sam Mbakwe, who developed the old Imo region – covering Imo, Abia, and part of Ebonyi – constructing many roads and infrastructures that Governor Otti is still patching, expanding, and re-asphalting today.
Before Dr Otti assumed office in 2023, many regarded him as a classy and stylish leader who would not engage in the empty praise-singing that characterised his predecessors. However, here he is, basking in accolades, even those that invite public criticism.
A report by Thisday Newspaper on May 17, 2008, under the headline “Nigeria’s Harvest of Failed Industries,” summed up Okpara’s unparalleled achievements:
“In the Eastern region, Dr Michael Okpara was another great nation-builder with equally great ideas transformed into action from his palm produce earnings. The agrarian revolution led to the establishment of farm settlements across towns and villages. The Ulomna farm settlement, the Obudu cattle Ranch and industrial villages in Port Harcourt, Aba, Enugu and Umuahia made Eastern Nigeria a region with great promise. His idea was to route development from Port Harcourt to Enugu as one huge urban area back to back..”
This is the man that Governor Otti’s supporters and sycophants compare him to, despite Otti not constructing a single kilometre of road in two years, even after receiving ₦21 billion in monthly Federal Allocations and ₦630.4 billion over 19 months (from June 2023 to December 2024).
Unless Governor Otti wants to be remembered as the governor who only retrofitted and rehabilitated roads in Abia State, he should pay less attention to praise singers, as they will ruin him just as they did his predecessors.
Don Norman Obinna is the Abia State chairman of the African Democratic Congress (ADC).
*Ohanaeze expresses displeasure at the Sudden Closure of Enugu Airport during Easter period by FAAN.*
Ohanaeze Ndigbo Worldwide has expressed displeasure with the Federal Airports Authority of Nigeria (FAAN), over the sudden closure of the runway of the Akanu Ibiam International Airport (AIIA), Enugu. This closure is coming at the height of the Easter festive period when Ndigbo and other air transport users travel in high numbers. The leadership of Ohanaeze Ndigbo Worldwide has described it as unpatriotic and unfair to regular users of the airport, especially Ndigbo. While safety of lives and aircraft that ply the route may be the reason, the timing of the closure could have been better managed.
We are quite disturbed that this is the third time the runway has failed in less than 15 years. Consequently, the apex Igbo organization appeals for President Bola Tinubu’s intervention, for the release of funds to reconstruct the entire runway, rather than the makeshift efforts that have not worked over the years and ensure the timely completion of the project.
Recall that FAAN on Friday night, released a statement announcing a two-week emergency closure of the Enugu airport for runway rehabilitation.
The statement signed by FAAN’s Director of Affairs and Consumer Protection, states in part, “There is a sudden and significant rupture in the asphalt surface at a critical section of the runway. Hence, emergency repairs will be conducted on the portion of the runway from April 22nd to May 6th, 2025
“In compliance with Nigerian civil aviation regulations, FAAN has, therefore, closed the runway during this period.”
However, reacting to the development on Saturday morning, Ohanaeze, called on FAAN to monitor all airport runways nationwide to ensure that they are in perfect condition to avoid accidents which could endanger the lives of people.
We use this opportunity to draw the attention of Chief Festus Keyamo SAN, the Honourable Minister of Aviation to the fact that Akanu Ibiam International Airport, AIIA, is yet to be completed with minimal work done by successive federal administrations. It is in this regard that we commend the complementary effort effort by the Enugu State Government and implore the President Bola Tinubu Administration to fully complete and operationalize the entire airport, in line with international best practices
We look forward to the completion of the project within the said duration.
Ezechi Chukwu, Ph.D is the Spokesperson of Ohanaeze Ndigbo Worldwide.
The Federal Government of Nigeria has announced the temporary closure of Akanu Ibiam International Airport Enugu, Enugu State with effect from April 22, 2025.
A statement from the Federal Airports Authority of Nigeria (FAAN) indicated that the closure of Enugu International Airport is necessary to carry out emergency repairs on the runway.
In the statement, signed by Mrs. Obiageli Orah, Director of Public Affairs and Consumer Protection at FAAN, it was noted that “there is a sudden and significant rupture in the asphalt surface at a critical section of the runway.”
Mrs. Orah added that “emergency repairs will be conducted on that portion of the runway from April 22nd to May 6th, 2025.”
In compliance with Nigerian civil aviation regulations, the Federal Airports Authority of Nigeria (FAAN) has, therefore, closed the runway during this period.”
She further emphasised that “as part of FAAN’s commitment to passenger safety and the modernisation of airport facilities, the runway will not be open for landings or takeoffs during the rehabilitation period.”
While appealing for understanding, FAAN stated that all flights will be diverted to other airports.
“FAAN appeals to all airport users and stakeholders for their understanding and cooperation during this time. All flights to this airport will be diverted to nearby airports.”
The authority also expressed regret over the “late and unexpected notice regarding this closure.”
The naira appreciated against the dollar at the official foreign exchange market on Tuesday, despite the high inflation rate.
Data from the Central Bank of Nigeria showed that the naira strengthened to N 1,598.95 per dollar on Tuesday, compared to the N1,604.48 it traded at on Monday.
This indicates that the naira gained N5.53 against the dollar at the official rate on a day-to-day basis.
Meanwhile, in the black market, the naira remained stable at N1,610 per dollar—the same rate recorded on day to day basis.
Naira appreciated against dollar in the black market on Monday but experienced a slight depreciation at the official market.
The latest appreciation of the naira at the official market comes as Nigeria inflation rate eased to 24.23 percent on Tuesday.
The Enugu State Government has received 100 out of the 1,000 tractors ordered by the state governor, Dr. Peter Mbah, to boost agriculture in the state.
Another batch of 100 is also underway, while the remaining 800 will be assembled at the new Nortra Tractor Assembly Plant and Service Centre established by ODK Group, Danish firm.
Conducting newsmen on an inspection of the tractors in Enugu on Monday, the state’s Commissioner for Agriculture and Agro-Industrialization, Mr. Patrick Ubru, said this was in fulfilment of Governor Mbah’s earlier promise to mechanise agriculture in the state, boost food production, create jobs, and drive the state’s GDP to $30 billion by 2031.
According to Ubru: “What you’re seeing here is a fulfillment of Governor Mbha’s manifesto on mechanising agriculture and ensuring that the agriculture sector in Enugu State takes a different shape and also ensuring that we increase our productivity up to 200 folds by ensuring that Enugu becomes the food basket of Nigeria. This can only be done through mechanisation.
“We have received 100 heads of tractors imported from Denmark through the Notra Tractors Company. Apart from the 100 we just received, they have assured us that in the next 60 to 90 days, another 100 will be delivered to the state, while the balance of 800 tractors will be assembled here in Enugu. We have also seen the implements that will accompany those tractors to the farm.
“The tractors have been tested at the farm estate in Akpawfu, Nkanu East Local Government Area. This model has an engine capacity of 75 horsepower and we have assurance that if we encounter difficult terrains, the company can increase the capacity to 90 horsepower”, he stated.
The commissioner explained that the Assembly Plant would have two production lines capable of assembling 10 tractors per day, with another section dedicated to practical training of tractor operators, adding that to ensure sustainability, the plant would also have a service centre for tractor repair and maintenance.
The Commissioner said the Assembly Plant alone will create 3,600 jobs.
Ubru also observed that the tractors would be made accessible to farmers, stressing that the government’s aim was to empower farmers and make agriculture attractive and profitable.
“A lot of job opportunities for our young people and a lot of value will be created. Prior to this time, our small holder farmers as well as commercial farmers found it difficult to apply mechanization process in their farm and that also hindered productivity. Going forward, tractors will be made accessible to farmers, farming will be easier and an attractive profitable business and no longer merely to satisfy subsistence needs.
Reiterating that the government was in the process of establishing 260 farm estates across the state, the Commissioner said that the estates would provide services for the small holder farmers and serve as centres where tractors could be easily accessed.
“The farm estate is going to be a one-stop-shop that will provide a lot of services for our small holder farmers. Each farm estate will have 200 farmers where we will provide mechanised services. This translates to 52,000 direct jobs. The farm estate will have a tractor shade housing the tractors so that the farmers can get the services of a tractor when they need it. We will have improved seedlings extended to the farmers, and the extension workers in each of the farm estate will provide extension services to the farmers”, he stated.
The commissioner further said that the Ministry of Agriculture was working out the modalities to enable the farmers to access the tractors in time before the next farming season commences in the state in the next two weeks.
Also speaking, the Chairman of All-Farmers Association in the state, Chief Romanus Anayo Eze expressed delight at the new tractors, saying the state had never seen such a large number of tractors.
“I thank Governor Peter Mbah for fulfilling his campaign promises, unlike others in the past, who would tell us they would do this and that, but they won’t fulfil it.
“When the governor said he would make provision for 1,000 tractors in the state, myself in particular and others doubted it. But what we are seeing today is different. For the first time, Enugu is procuring 100 tractors. We are so excited and farmers of Enugu State are happy.
“Since this year, farmers have been calling to ask for tractors, but today, with this, everyone is smiling and happy over this big development.
“This farming season, we are going to be farming with brand new tractors. So, I am happy because these are new ones that won’t break down.
“Before now, we did not have up to four tractors in the Ministry of Agriculture. Before now, some of those tractors could not leave the Ministry to the farm without breaking down on the way. That was what was obtainable before.
“Our promise is that with these tractors, there will be food sufficiency in Enugu State. There will be employment. Most of our youths will be gainfully employed through the farm estates he establishing in the 260 wards”, he said.
Nigerians could soon feel the pinch from the US–China tariff showdown, if this power play doesn’t end soon.
In early April 2025, China imposed export controls on key rare earth minerals as part of its response to new U.S. tariffs. Rare earth elements (like samarium, gadolinium, terbium, dysprosium, etc.) critical for electronics, electric vehicles, and defense were placed on a controlled list.
Beijing’s curbs apply to all countries (not just the US), demonstrating China’s ability to “weaponize” its dominance in these minerals.
But we all know the biggest importer of these minerals are Americans and this move is a response to the tariff hikes.
Since China produces ~90% of the world’s rare earths, this move threatens to squeeze global supply chains for products ranging from smartphones to EV batteries.
Manufacturers worldwide are scrambling to find alternative sources, as these minerals are vital for semiconductors, magnets, and other high-tech components
Meanwhile, the US has slammed a whopping 104% tariff (doubling the price) on Chinese tech gadgets and electric vehicles, and China hit back with an 84% duty on American goods.
Although Nigeria claims it will not respond to the tariff hike.
Less than a week after Trump’s announcement the US claimed that,Nigeria placed an import ban on 25 different product categories which impacts U.S. exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
Hence the 14% tariff hike.
Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit U.S. market access and reduce export opportunities.
Hmmm are we going to grow a back bone?
This tit-for-tat trade war may raise prices of smartphones, laptops, and car parts in Nigeria. Food costs and general inflation could also climb as global supply chains slow down.
Stay prepared, and leave Temu and whiskey alone for now 😃 ( the owner of this shade knows themselves)
The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month.
According to the latest Afrinvest Monthly Market Report titled ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped to N1,536.82/$ and N1,530.00/1.00 at the NAFEM window and parallel market, respectively.
AIICO Capital, in its monthly macroeconomic market report in March, also confirmed that the naira came under a lot of demand pressure despite interventions by the Central Bank of Nigeria to the tune of $668.8m.
“The naira experienced significant depreciation in March 2025 due to persistent demand pressure in the (Nigerian) foreign exchange market.
Despite the Central Bank of Nigeria intervening with substantial dollar sales totalling $668.8m, the naira weakened by 2.97 per cent m/m, closing at N1,536.82/$ from N1,492.49/$ at the start of the month,” stated AIICO Capital.
In the period under review, demand remained robust, particularly from foreign portfolio investors and local corporates. AIICO Capital said that the parallel market mirrored this trend, depreciating by about N43.50/$ to N1,536.00/$.
Although liquidity improved mid-month with CBN interventions, demand continued to outstrip supply.
In the final week, despite continued CBN dollar sales and a slight appreciation of 0.5 0.5 bps, the naira remained under pressure. On a quarterly basis, the naira depreciated by 7 bps q/q at the NFEM window. Meanwhile, external reserves fell by c.$110m to $38.31bn,” AIICO Capital further stated.
In terms of outlook, the investment house sees the CBN sustaining liquidity to stabilise the naira in the near term. “However, global risks—like US tariffs and retaliatory measures—may spur volatility and capital flight,” the report concluded.
Already, the Central Bank of Nigeria has stated that the naira has felt the impact of the global macroeconomic shifts set by the new tariffs imposed by the US president, Donald Trump.
In a statement signed by the Director, Financial Markets Department, Omolara Duke, the apex bank stated that recent movements in the foreign exchange market between April 3 and 4, 2025, made it inject about $197.71m through sales to authorised dealers on Friday into the FX market. The dollars sold between N1,519 and N1,595.20/$, according to analysts.
“In line with its commitment to ensuring adequate liquidity and supporting orderly market functioning, the CBN facilitated market activity on Friday, April 4, 2025, with the provision of $197.71m through sales to authorised dealers. This measured step aligns with the Bank’s broader objective of fostering a stable, transparent, and efficient foreign exchange market.
“The CBN continues to monitor global and domestic market conditions and remains confident in the resilience of Nigeria’s foreign exchange framework, which is designed to adjust appropriately to evolving fundamentals.
All authorised dealers are reminded to adhere strictly to the principles outlined in the Nigeria FX Market Code and to uphold the highest standards in their dealings with clients and market counterparties,” Duke said.
In the past week, the naira recorded heightened volatility at the interbank Nigerian Foreign Exchange Market. Early in the week, it remained relatively stable, trading between N1,525–N1,535/$ on the back of consistent CBN support and moderate offshore inflows. However, by midweek, there was a sharp reversal as offshore demand surged, compounded by weakened oil prices following OPEC+’s supply hike and global risk-off sentiment driven by Trump’s tariff announcements.
This led to strong FX demand pressure and limited supply, pushing the naira to as high as N1,570/$. Despite CBN’s intervention, the naira depreciated by 1.97 per cent w/w to close at N1,567.02/$, and foreign reserves declined by $149m to $38.15bn.
Amid the external pressure on the naira, analysts at Afrinvest said the pressure may be compounded due to the stoppage of the naira-for-crude initiative. It was projected that with the end of the initiative, FX demand would shoot up, as refineries join the “FX-seeking queue while PMS importers source more products from abroad. Against this backdrop, we expect the naira to remain pressured near-term, barring any unforeseen shocks.”
Cardinalstone, in its macroeconomic update on Monday, also affirmed that the Nigerian FX market has been negatively affected by offshore investors’ flight to safety as increasing domestic dollar demand put pressure on the naira (1-month return of -8.6% and YtD of -5.8%).
“Some of the concerns relate to the risk of the government not meeting its revenue target and the higher deficit that could imply. Speaking to this risk, crude production declined to c. 1.67 mbpd in February (vs. 1.74 1.74mbpd in January) amidst the material contraction in oil price (down by 14.2% YtD),” CardinalStone said.
Commenting on the global ripple effects, former Zenith Bank chief economist Marcel Okeke warned that the Trump-led tariff war could trigger inflation globally, with Nigeria particularly vulnerable due to its import dependence. “We’re likely to see an uptick in imported inflation,” he said.
