Chatham House Warns Nigeria Against Reversing Naira Depreciation…Nigerian Forces Destroy Boko Haram Bases, Free Captives…Military Pressure Mounts as Another Bandit Kingpin Falls in Nigeria…Terrorists Retaliate, Kill 11 After Leader’s Death
- Chatham House to Nigeria: Don’t Fight Naira Depreciation, It’s Helping the Economy
Chatham House, a British economic policy institute, has cautioned the Nigerian government against efforts to strengthen the naira, arguing that its depreciation has made the economy more competitive.
TheCable reports that in an article titled “Nigeria’s Economy Needs the Naira to Stay Competitive,” the organization stated that while inflation has surged under President Bola Tinubu’s reforms, the policies offer long-term benefits.
“At the center of the reforms has been Tinubu’s decision to allow a very substantial devaluation of the naira,” the report noted, adding that “Nigeria is arguably now more competitive than at any time in the past 25 years.”
Chatham House highlighted two key benefits: an improved balance of payments and increased government revenue. While acknowledging inflation concerns, it warned that a stronger naira could reverse economic gains. Instead, it urged policymakers to focus on improving monetary policy and boosting public revenue.
- 75 Civilians Rescued as Nigerian Army Strikes Boko Haram Camps
Nigerian troops under Operation Hadin Kai, the military’s counterinsurgency mission against Boko Haram and ISWAP in the Northeast, have rescued 75 civilians from captivity in Sambisa Forest, officials announced Monday
Major General W. Shaibu, Theatre Commander of Operation Hadin Kai, said the rescue was conducted by the 21 Special Armoured Brigade and the 199 Special Forces Battalion as part of Operation Desert Sanity IV, an offensive aimed at clearing terrorist strongholds.
“Key terrorist enclaves in Ukuba, Ujimla, Sabil Huda, Garin, Fajula, and Gobara were cleared, leading to the rescue of 75 civilians, including seven adult males, 34 women, and 34 children,” Shaibu said, as cited by The Punch.
Troops also destroyed insurgent facilities, including “command and logistics bases, makeshift shelters, weapon caches, and materials used for making improvised explosive devices (IEDs).”
The rescued civilians were handed over to the Borno State Government and Commissioner for Women Affairs and Social Development, Zuwaira Gambo, promised to “provide them with livelihood support, counseling, mental health and psychosocial support.”
- Nigerian Military Take Down Infamous Bandit Chief in Northwest Nigeria
Nigerian troops have killed a notorious bandit leader, Yellow Aboki, in a military operation targeting armed groups in Zamfara State, security sources confirmed to Zagazola Makama.
Aboki was a close associate of Hassan Bamamu, a feared warlord who was recently killed by the military. He had taken control of criminal operations in the Northwest State, overseeing violent attacks and kidnappings in multiple villages.
The military operation, known as Operation FANSAN YANMA, targeted Aboki in Tsafe, a district in Zamfara plagued by banditry. His death is part of a larger crackdown on criminal gangs terrorizing rural communities.
Zagazola Makama reports tat the military has weakened the bandits’ ability to fight back, forcing them to attack remote villages instead. “The sustained pressure has diminished the capacity of the bandits,” the security analyst said.
- Terrorist Group Kill 11, Burn Villages in Northern Nigeria Reprisal Attack
Militants killed 11 people and burned six villages in Kebbi State, Northeast Nigeria, in retaliation for a recent security operation that eliminated their leader, Maigemu, police confirmed Monday.
The Lakurawa militants launched the attack Sunday in Arewa town, targeting Birnin Dede and surrounding villages. Witnesses reported that homes were set ablaze, with only one village spared due to a military presence.
The Punch reported police spokesperson Nafiu Abubakar as saying, “They targeted six villages, killing 11 people and leaving two others in critical condition.”
Abubakar said security forces have intensified operations to track down the assailants: “We are on their trail, and God willing, we will apprehend them soon.”
Ezinwanne Onwuka reports for TruthNigeria from Abuja.
