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Renewal of Currency Swap with China, Landmark Achievement of Present Administration, Says Tegbe
Renewal of Currency Swap with China, Landmark Achievement of Present Administration, Says Tegbe
By: Michael Mike
The Nigeria-China Strategic Partnership (NCSP) has said with the renewal of the currency swap arrangement with China valued at 15 billion yuan (about $2.2 billion), the present administration of President Bola Tinubu has secured a significant milestone in Nigeria’s economic development.
Director-General and global liaison for the Nigeria-China strategic partnership the Nigeria-China Strategic Partnership (NCSP),
Joseph Tegbe said on Sunday said this landmark deal strengthens economic ties between the two nations, facilitating bilateral trade and investment, reducing reliance on the US dollar, and mitigating financial risks.
He noted the agreement, worth NGN 3.28 trillion, is a testament to the growing relationship between Nigeria and China, with trade value hitting N7.38 trillion as of June 2024. This makes China Nigeria’s number one trading partner, and the partnership is expected to boost bilateral trade and investment, creating new opportunities for economic growth and development.
He said the currency swap agreement is a crucial step towards achieving these goals, and it signifies a deeper financial collaboration between the two central banks, enhancing financial market stability and providing businesses with more financing options and convenience, adding that by enabling direct settlement of transactions in CNY and NGN, Nigerian businesses will benefit from lower transaction costs and reduced exchange rate risks. This is a significant step towards achieving President Tinubu’s vision for a more prosperous and economically independent Nigeria, as outlined in his Renewed Hope Agenda.
He said the establishment of the Nigeria-China Strategic Partnership (NCSP) has been instrumental in fostering bilateral relations and promoting partnerships between the two nations. This development is a testament to President Tinubu’s commitment to expanding Nigeria’s foreign policy thrust. Specifically, it
underscores the importance which the President gives to the comprehensive strategic partnership with the People’s Republic of China.
He said overall, President Tinubu’s administration deserves commendation for this significant achievement, which is expected to contribute to a more prosperous and economically independent Nigeria.
Renewal of Currency Swap with China, Landmark Achievement of Present Administration, Says Tegbe
Fourteen Abducted Victims Released in Maru, Zamfara State; Two Killed in Captivity
By: Zagazola Makama
Fourteen victims abducted in December 2025, including six family members of Inspector Hussaini Abubakar of Maru Police Division, have been released by their captors.
Zagazola reliably gathered that the release occurred at about 1:00 p.m. on Feb. 26, 2026. Unfortunately, two of the victims, identified as Bashir Marafa, aged 45, and Halliru Kabiru, aged 50, were killed while in captivity.
Sources added that a pregnant woman among the abductees delivered a baby girl while in captivity. The victims are currently receiving medical attention at the General Hospital, Maru.
Fourteen Abducted Victims Released in Maru, Zamfara State; Two Killed in Captivity
Two Abducted Victims Rescued in Tsafe, Zamfara; One Killed in Bandit Attack at Talata Mafara
By: Zagazola Makama
Two persons abducted earlier this month in Tsafe Local Government Area of Zamfara State have been rescued, while a separate bandit attack in Talata Mafara LGA left one person dead and others missing.
Sources confirmed that Bashir Adamu Iyatawa, 42, and Kenneth Allahmagani, 35, both from Zaria City, Kaduna State, were abducted at Unguwar Chida Village in Tsafe on Feb. 16, 2026.
They were rescued on Feb. 26, debriefed, and later taken to a hospital for medical attention before being handed over to their relatives.
In a separate incident, armed bandits loyal to a local bandit leader, Na Sanda, attacked the outskirts of Jangebe town in Talata Mafara LGA on Feb. 27 at about 2:00 a.m.
The attack resulted in the death of Misbawu Aminu, 30, and the abduction of an unspecified number of persons to an undisclosed location.
Joint troops of Operation FANSAN YANMA and local vigilante groups are reported to be pursuing the fleeing bandits. Authorities have assured that efforts to rescue the abducted victims and apprehend the culprits are ongoing.
Two Abducted Victims Rescued in Tsafe, Zamfara; One Killed in Bandit Attack at Talata Mafara
Boko Haram Attack on CJTF Leaves One Dead in Gwoza, Borno state
By: Zagazola Makama
One member of the Civilian Joint Task Force (CJTF) was killed following an ambush by suspected ISWAP terrorists along the Warave–Gwoza Road in Gwoza Local Government Area of Borno State.
Sources said the incident occurred on February 25 at about 7:30 a.m. when gunmen attacked members of the CJTF and hunters on routine patrol. Fifty-year-old Bello Adamu, a member of the CJTF, was fatally injured in the attack.
Army troops of Operation HADIN KAI, Police Tactical Units, and CJTF personnel visited the scene, documented the incident, and evacuated the victim to Gwoza General Hospital, where he was certified dead on arrival. His body was released to his family for burial according to Islamic rites.
Monitoring of the area continues to prevent further attacks.
Boko Haram Attack on CJTF Leaves One Dead in Gwoza, Borno state
Fourteen Abducted Victims Released in Maru, Zamfara State; Two Killed in Captivity
Two Abducted Victims Rescued in Tsafe, Zamfara; One Killed in Bandit Attack at Talata Mafara
Boko Haram Attack on CJTF Leaves One Dead in Gwoza, Borno state
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