Connect with us

Breaking News

BREAKING NEWS: Flood hits Abuja city, Katsina LG

Published

on

Quickly! Watch The Video Before It’s Deleted! |Save Hot 3:00 Minutes $3x V!de0s To Ur Phone Directly | Watch 2:00 H0t $3x V!d0es Now!

Did You Miss The 400 $ex T4pe of Equatorial Guinea senior official Baltasar Ebang Engonga? Quickly W4tch! Before They Are deleted Be The First Person To See The Full Videos. Now!

Many roads in Abuja, the nation’s capital, were flooded following a heavy downpour in the early hours of yesterday. Areas affected included Asokoro, Guzape, Jabi, Kado and Wuse.

Also, over 1,000 residents have been displaced and houses destroyed following devastating floods that swept through several communities in Kankia Local Government Area of Katsina State.

In Abuja, many motorists, who spoke to Daily Trust, said they could access major roads in Abuja’s Asokoro and Guzape districts during the heavy downpour.

A video shared on Facebook by one Prince Adebisi Adetunji showed torrents of water covering parts of the road in Asokoro, leaving motorists and residents struggling to navigate the area.

The flood disrupted movement, with vehicles seen wading through deep waters.

Residents allege poor drainage

Residents in the area said the poor drainage system worsened the situation.

A motorist, Musa Ibrahim, told our reporter that many roads in the two districts were difficult to navigate, causing traffic jams.

Another driver, Emmanuel Peter, said he and others had to wait for a while before they could find a safer road the area.

“The FCT Administration needs to find a solution to the poor drainage system in the nation’s capital,” Peter said.

According to him, the issue is not limited to Asokoro or Guzape, but occurs in virtually all districts when it rains heavily.

“This also happens in Jabi, Wuse, and even the Central Business District every year.

“Something needs to be done by those managing the city to address the drainage issue,” he added.

A section of the Obafemi Awolowo Way in Jabi District was also flooded during the downpour.

Many motorists were seen navigating through the flooded section of the road.

Alhaji Nuhu Ademola said his car was stuck in the water at a junction close to Jabi Motor Park.

According to him, he spent close to 30 minutes before the water receded and was able to move out of his car.

Alhaji Ademola called on the FCT Administration to find a lasting solution to the poor drainage system within the nation’s capital.

‘’Of course, we don’t need to be telling them as they can also see it. How do you expect the nation’s capital to be built with a careful and well-planned drainage system,’’ he asked.

Another motorist, who also got stuck at the junction, Madam Evelyn Danjuma, said she had to park by the road side after seeing the volume of water on the main road.

She also attributed the incident to the poor drainage system and called on authorities to find ways of addressing the annual occurrence.

Mallam Awalu Dahiru, a driver who plies Kado to Airport Junction, said the road from the Kado roundabout was flooded during the road.

According to him, many vehicles were stuck under the bridge shortly after the roundabout at Kado.

‘’This happens on this road after every rain. We have been appealing to the FCT Administration to do something about this but nothing is being done,’’ he said.

Our correspondent reports that there was a similar flash flood at the Life Camp area of Abuja as well as at Wuse District.

Town planners speak

An Abuja-based town planner, Lami Ayuba, attributed the flash flood being experienced on major roads in Abuja to both natural and human factors.

She said towards the end of every rainy season, the intensity of the rain is so high that it is difficult for the ground to drain it, causing the water to overflow the drainages.

She also noted that improper waste disposal often leads to blockage of drainages.

She advised relevant FCT agencies responsible to waste evacuation to be alive to their responsibilities by promptly evacuating them.

She also called on such agencies to always ensure constant clearance of the drainages within the city centre.

She advocated deliberate sensitization programmes for residents on waste disposal.

This, she said, should be done alongside providing alternatives for disposing of their refuse.

Another town planner, Adeyemi Iyanda, also attributed the flash flood on major roads in Abuja to infractions to the masterplan of the city.

He cited illegal construction of structures on waterways, calling for immediate action from the FCT Development Control Department.

He also blamed residents for indiscriminate dumping of refuse on drainages.

He asked regulatory bodies to ensure that building laws are strictly adhered to.

He said people are now building on the waterways, leading to overflow whenever it rains.

According to him, the Development Control Department of the FCTA must intensify the monitoring and enforcement functions to check illegal buildings, especially those in flood prone areas.

The town planner also suggested regular clearing of debris from drains and ditches as well as cleaning downspouts and the gutters.

He charged the FCT Administration to educate the citizens on the need to stop indiscriminate buildings and refuse dumping on waterways.

FCTA removes structures on waterways

An official of the FCT Department of Development Control, who spoke to our reporter yesterday, said the FCT Administration had set up a special taskforce to clear illegal structures, especially those on waterways and in flood-prone areas.

According to the official, who craved anonymity, the Director of the Development Control Department, Muktar Galadima, is leading the taskforce.

He said the task force, which started removing some of those structures in Garki, Durumi and Wuse districts of the city.

He said the flash flood in the city could not be immediately or entirely stopped because of the long-time infractions to the masterplan.

He, however, noted that efforts would be made to address the situation.

A staff member of the FCT Emergency Management Department, who also wished to remain anonymous, said that aside from the poor drainage system, some residents also contribute to the problem.

1,000 people displaced, houses destroyed in Katsina

In Katsina, a heavy downpour accompanied by strong winds on Tuesday has displaced over 1,000 people in Kankia Local Government Area, after the Kankia dam overflowed, destroying hundreds of houses.

Residents said the disaster, worsened by the dam’s poor state, reduced many homes to rubble. Some victims now squat with relatives, while others remain stranded.

Though no lives were lost, families were seen salvaging belongings and moving to safer areas.

One victim, Adahama Rabe of Kofar Yamma, said her house collapsed with over 20 people inside.

She appealed for urgent government intervention, stressing that dredging the dam would solve much of the problem.

The Katsina State Emergency Management Agency (SEMA) pledged immediate support, including temporary resettlement and relief materials. Its Executive Secretary, Binta Dangani, urged residents to clear waterways and heed environmental warnings to avert future disasters.

The flood also submerged the 40-year-old JIBWIS Mosque in Layi quarters, forcing worshippers to relocate Friday prayers to an alternative mosque.

Similar flooding was reported in Shinkafi, Unguwar Alkali, Makudawa and parts of Kwado, where many residents lost homes and livelihoods, prompting calls for urgent government support.

The National Emergency Management Agency (NEMA) Kaduna Operations Office, in collaboration with the Katsina State Emergency Management Agency (SEMA) and the Nigeria Red Cross, has launched a joint flood assessment to determine the full scale of the damage in Kankia LGA.

In a statement on Thursday, NEMA said many of the displaced residents have taken shelter at Tashan Lado Primary School near the Kankia Local Government Council Secretariat, with about 200 people currently living in a camp, temporarily provided by concerned authorities.

The statement also said the assessment team observed that hundreds of houses in the Sabon Duniya community were destroyed, with some completely collapsed, leaving many residents homeless.

“The assessment team is facing challenges accessing some severely affected communities as a result of an early-morning rainfall in the area, hindering efforts to determine the full extent of the damage.

“However, NEMA, SEMA, the Red Cross and delegated community elders are working round the clock to provide support for a hitch-free assessment of the incident. “Meanwhile, evacuations are ongoing, with many people already rescued and provided with temporary shelter,” the statement added.

Quickly! Watch The Video Before It’s Deleted! |Save Hot 3:00 Minutes $3x V!de0s To Ur Phone Directly | Watch 2:00 H0t $3x V!d0es Now!

Did You Miss The 400 $ex T4pe of Equatorial Guinea senior official Baltasar Ebang Engonga? Quickly W4tch! Before They Are deleted Be The First Person To See The Full Videos. Now!

Continue Reading

Breaking News

National Pension Commission (PenCom) changes price disclosure rule

Published

on

National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to discontinue the publication of daily unit prices for Retirement Savings Account (RSA) and Retiree Funds on their websites, replacing the requirement with a six-month disclosure of returns based on a three-year rolling average.

The directive was contained in a circular issued by the commission.

Under the new guideline, PFAs must stop implementing Section 2.0 (iv) of the Commission’s March 23, 2013 circular, which required them to display daily unit prices for the last seven days.

Instead, they are to publish on their websites the last six months’ rate of return — calculated as a 36-month compounded rolling average in line with the Circular for the Calculation and Reporting of Rate of Returns by Licensed Pension Fund Operators (LPFOs).

According to the commission, the rate of return must be clearly displayed on the homepage of each PFA’s website.

For instance, the six-month disclosure covering April to September 2025 would reflect the 36-month compounded returns ending in each of those months.

This has however raised transparency concerns in the pension industry.

The 2013 circular on Minimum Information to be displayed on PFA Websites formed part of PenCom’s transparency framework for the Contributory Pension Scheme.

The latest addendum modifies that requirement but does not remove PFAs’ obligation to disclose performance information.

Industry watchers say the development may reignite debate over the balance between long-term investment reporting and real-time transparency in Nigeria’s pension industry.

All enquiries on the addendum, the Commission said, should be directed to its Surveillance Department.

An industry analyst who does not want her name mentioned said the move could reduce contributors’ access to real-time performance data.

She said: “Daily unit prices allowed RSA holders to independently track short-term movements and detect fluctuations in fund valuation.

“With only a three-year rolling average now required, contributors will no longer see recent performance in isolation”, she noted.

The analyst added that while pension funds are long-term vehicles, removing daily disclosure raises concerns about information asymmetry.

“PFAs will still compute daily valuations internally. The issue is whether contributors should be denied access to data that already exists,” the analyst said.

However, another pension expert defended the directive, noting that pensions are structured for long-term accumulation and should be assessed over extended periods.

“A 36-month rolling average smooth’s out short-term volatility and provides a more accurate reflection of sustained performance,” the expert said, warning that excessive focus on daily fluctuations could encourage reactionary fund switching.

Continue Reading

Breaking News

Dollar rises in black market on Monday, traders quote new exchange rate

Published

on

Dollar edges higher against the naira in black market trading Dollar edges higher against the naira in black market trading

The United States dollar at the parallel market increased in value on Monday, Febuary 23 with traders quote at N1,375/$ as the new selling exchange rate.

The new rate is a slight depreciation for the naira when compared to N1,343 a dollar market closed on Friday, February 20, 2026.

Abdulahhi, a forex dealer, told Legit.ng that the new exchange rate follows renew demand in the market.

“I am currently selling dollars at N1,375/$1 and buying at N1,355/$1. The pound is trading at N1,845 to sell and N1,805 to buy, while the euro is also moving steadily in the market.

“It seems this week the dollar will return to over N1,400. I have been getting a lot of request.”

The fall of the naira comes as BDC operators continue to face difficulties in accessing dollars from commercial banks.

BDCs can get dollar

The apex bank had previously issued a circular allowing licensed BDCs to access foreign exchange through authorised dealers at the prevailing market rate.

Under the directive, each BDC is permitted to purchase up to $150,000 weekly, subject to Know Your Customer (KYC) requirements and due diligence checks, Punch reports.

Leadership reported that despite a policy announcement, some operators disclosed that no transactions have been completed under the new arrangement.

A BDC operator, who requested anonymity, said the directive remains largely unimplemented. According to him, the circular provides that disbursements will be made through settlement accounts, a provision that has raised operational concerns.

He questioned the feasibility of seamless, real-time transfers between domiciliary accounts across different banks, noting that such infrastructure may not yet be fully in place.

The operator added that while commercial banks appear supportive of the policy, many are still developing internal processes to align with the CBN’s directive.

He explained that BDCs are required to submit bid orders through their banks, which would then access the market on their behalf.

Naira in the official market

Meanwhile, in the Nigerian Foreign Exchange Market (NAFEM), the naira closed against the US dollar on Friday, February 20 at N1,346.32/$1 from N1,341.35/$1 a day earlier.

At the GTBank FX desk, the naira weakened by N7 against the dollar to quote N1,356/$1.

Continue Reading

Trending

Copyright © 2026 Naijacoaded | All Right Reserved | Powered by Naijacoaded.com |