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Major News Headlines In The Papers Today: CBN makes upward review of cash withdrawal limits

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1. The Central Bank of Nigeria (CBN) has made an upward review of its cash withdrawal limit directive 15 days after issuing the policy as individuals can now withdraw N500,000 cash weekly and up to N5 million for corporate entities from 9th January, 2023.

2. The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has written to the House of Representatives explaining why he will not honour the invitation sent to him in person, saying he is currently attending to health issues outside the country. The letter was read by the Speaker, Femi Gbajabiamila at the plenary on Wednesday.

3. The Speaker of the Taraba State House of Assembly, Professor Joseph Aibasu Kunini has resigned, citing personal grounds. His resignation notice was contained in a letter transmitted to the lawmakers on Wednesday.

4. Five suspected kidnappers have been arrested by anti-kidnapping operatives of the Kwara State Police Command. The five suspects belong to two separate gangs of kidnappers. Members of the first gang include Babagida Buguda, 30, described as a kingpin, Bashiru Yakuba, 35, and Mohammed Umaru, 26.

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5. The presidential candidate of the Labour Party (LP), Peter Obi, yesterday, accepted the resignation of Doyin Okupe as Director-General of the party’s presidential campaign council. In a letter addressed to Okupe, Obi said he respected the decision of his former campaign DG.

6. The queues for Premium Motor Spirit, popularly called petrol, which were gradually abating recently, suddenly re-emerged on Wednesday in many cities, including Lagos and Abuja. The development clearly shows that Nigerians face bleak Christmas as fuel scarcity has started taking a toll on motorists, who have hiked their fares.

7. Nigeria’s domestic debt rose to N22.57tn as the Federal Government on Wednesday proposed a last-minute supplementary budget for the 2022 fiscal year. President Muhammadu Buhari is seeking the approval of the National Assembly for a N819.54bn supplementary budget, which it planned to finance through domestic borrowing.

8. The Inspector-General of Police, Mr Usman Baba, on Wednesday, described the agitation for Biafra in the South Eastern part of the country as a smokescreen for criminality. He warned those behind the agitation that the government will not be intimidated by their activities.

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9. The police have started investigation into the killing of the Youth President of Inen community in the OrukAnam Local Government Area of Akwa Ibom State, Mr Hezekiah Adaiden. The State’s Police Public Relations Officer, Odiko Mcdon described the killing of the youth president as barbaric, adding that the perpetrators would be brought to book.

10. Millions of people took to the streets of Buenos Aires Tuesday to celebrate Argentina’s World Cup title, disrupting a planned parade route and forcing Lionel Messi and his teammates to abandon an open-top bus to instead fly over the city in helicopters.

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Police rescue Adebayo Adelabu’s sister, her twin sons

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The Nigeria Police Force has rescued Mrs Olaide Busayo Adegoke John-Paul and her 12-year-old twin sons, Peter and Paul, alive during a rescue operation carried out around 7:30 p.m. on Saturday. 

According to reports, two suspected kidnappers were neutralised in a gun duel with police operatives, while two firearms were recovered from the gang.

The victims, including the younger sister of the former Minister of Power, Chief Adebayo Adelabu, were abducted around 7:30 a.m. on June 3, 2026, while on their way to drop the children at school in Ibadan, Oyo State.

Police sources disclosed that sustained intelligence tracking and tactical pressure forced the kidnappers into a confrontation with operatives, leading to the successful rescue of the victims.

The source disclosed that security operatives are still combing nearby areas for fleeing members of the kidnapping syndicate, some of whom are believed to have escaped with gunshot wounds.

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In a statement confirming her abduction, Adelabu’s media aide, Femi Awogboro, said the victims were kidnapped at about 7:30 a.m. while Mrs John-Paul was taking her children to school, leaving the family in distress.

“We are deeply distressed by this unfortunate incident but remain hopeful that the victims will be rescued safely. We appeal to the public to remain calm, avoid speculation, and support ongoing efforts with prayers,” the family’s statement read in part.

She is the youngest of five children of Mrs Olufunmilayo Aduke Adegoke Adelabu, who reportedly retired voluntarily from her career at First Bank Pension Custodian in 2025 before relocating to Ibadan with her children.

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Police debunk claim abducted schoolgirl died in captivity

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The police command in Oyo state has dismissed claim that one of the schoolchildren abducted in Ahoro-Esiele, Oriire LGA, died while in captivity.

In a statement issued on Friday, the command described the report as false, misleading and designed to incite panic among residents.

The police said neither the police nor any security agency involved in efforts to rescue the abducted pupils had confirmed such development.

“The report is false, misleading, mischievous, and without any factual basis whatsoever,” the statement reads.

The command accused the authors of the report of deliberately using unverified claims and emotional narratives to manipulate public opinion and create fear.

“It is particularly disturbing that the authors of the report deliberately employed emotional narratives, speculative claims, and unverified accounts in a calculated attempt to manipulate public opinion and generate anxiety among residents,” the statement added.

The police said ongoing rescue operations are being pursued with professionalism and confidentiality, warning that the spread of false information could undermine security efforts and inflict further trauma on affected families.

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The command cautioned bloggers, social media influencers, online content creators and media organisations against publishing unverified security-related information.

“The indiscriminate sharing of false reports, particularly those capable of inciting fear or causing public disorder, is irresponsible and unacceptable,” the statement said.

The police urged residents to disregard the report and rely only on information released through official channels of the Nigeria Police Force and other authorised government agencies.

The command reiterated its commitment to public safety and assured residents that verified updates on the incident would be communicated as necessary.

Several schoolchildren were recently abducted by gunmen in Ahoro-Esiele, Oriire LGA, prompting a coordinated rescue effort by security agencies.

The police said investigations and rescue operations remain ongoing.

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Oyo school attack: Terrorists’ four-point demand before releasing pupils, teachers

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The abductors of teachers and pupils from three schools in Oriire Local Government Area of Oyo State have reportedly made a four-point demand before they will free the captives.

According to media reports, the abductors, who attacked schools in Esinele, Yawota and Alawusa communities on May 15, are reportedly demanding the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law,  reports.

The two commanders whose release is reportedly being sought are Mahmud Usman, also known as Abu Bara’a or Abbas Mukhtar, and his deputy, Abubakar Abba, alias Isah Adam or Mahmud Al-Nigeri, also called Mallam Mamuda.

The two terrorists are leaders of Jama’atu Ansarul Muslimeena Fii Bilaadis Sudan, JAMBS, also known as Ansaru — a breakaway faction of Boko Haram — and are alleged to have aided and abetted acts of terrorism in the country between 2013 and 2015.

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The two were arrested between May and July 2025 and are currently standing trial on terrorism charges before Justice Emeka Nwite of the Federal High Court, Abuja, in a suit marked FHC/ABJ/CR/464/2025, with their trial commencing on January 15, 2026.

Usman was sentenced to 15 years in prison by Justice Emeka Nwite of the Federal High Court, Abuja, on September 11, 2025, after pleading guilty to one count of illegal mining — which he admitted he used to fund arms procurement for terrorism and kidnapping.

He denied 31 other counts and remains in DSS custody pending trial on those charges.

His deputy, Abba, pleaded not guilty to all 32 counts and is also standing trial before the same court.

Unconfirmed reports also claimed that the terrorists are demanding a ransom put at ₦1bn, which is to be paid into a bank account in the Republic of Benin.

Security analysts have warned that releasing the commanders would pose serious risks to national security.

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Meanwhile, the Oyo State Government has declined to comment on the demands or the state of negotiations, with the Commissioner for Information, Dotun Oyelade, saying it would be “unhelpful” to disclose the government’s strategy while efforts to secure the victims’ release were ongoing.

On May 17, two days after the attack, the abductors released a video showing the beheading of one of the kidnapped teachers, Michael Oyedokun, a mathematics teacher at Community High School, Ahoro-Esinele.

Governor Seyi Makinde confirmed the killing in a statement on Monday, May 18, describing it as deeply painful.

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