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We met our yearly revenue target in August, let Trump do his worst – Tinubu

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BREAKING NEWS: 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!President Bola Tinubu has declared that Nigeria has already met its revenue target for the year in August — affirming that the country’s economy is now stable, resilient, and less vulnerable to external shocks, regardless of what global actors like US President Donald Trump may do.

The President made this known while receiving a delegation of former members of the defunct Congress for Progressive Change (CPC) at the Presidential Villa in Abuja on Tuesday, including governors, lawmakers, and other political leaders drawn from across the federation.

“Today, I can stand here before you to brag — Nigeria is not borrowing. We have met our revenue target for the year and we met it in August. Let Trump do his worst, we are stable,” Tinubu said.

He attributed this progress to improved non-oil revenue performance, asserting that Nigeria now has no reason to fear international economic developments, citing robust mechanisms already in place to keep the nation on course.

“If non-oil revenue is going well, then we have no fear of whatever Trump is doing on the other side,” Tinubu stated.

According to him, when he took over, the exchange rate had ballooned to N1,900 to the US dollar. But thanks to reforms and fiscal discipline, the rate has stabilised around N1,450, without the need for elite-level backchannel connections to the Central Bank of Nigeria (CBN).

“Nobody is trading pieces of paper for exchange rate anymore. You don’t have to know a CBN governor to get forex. All you have to do is export, import, and create jobs for the people,” he said.

Tinubu noted that his administration was focused on “fixing the economy” and “bringing hope to the people,” describing agriculture as the backbone of Nigeria’s long-term food security plan.

He revealed that he had just signed off on a major agricultural mechanisation programme that will be deployed in every region, complete with training centres and support infrastructure.

“We are doing mechanisation and training — that is our backbone: food sovereignty, food security. If we remove hunger, we have defeated poverty,” he said.

Addressing the CPC bloc of the ruling All Progressives Congress (APC) directly, the President assured them of his continued commitment to their shared ideals, while acknowledging the delays in political appointments.

He noted that ambassadorial positions were still available but insisted that fixing the economy was his primary focus.

“I couldn’t appoint everybody at once, and thank you for your patience. I still have some slots for ambassadorial positions that so many people are craving for. But it’s not easy stitching those names,” he said.

Tinubu spoke warmly of his long-standing political relationships with the CPC bloc, recalling the early days of the merger talks leading to the formation of APC.

“You brought back the memory of the beginning of the alliance. When we sat down to fashion out which way. We disagreed to agree. We even argued on symbol — he [Buhari] insisted on parliament, and I insisted on broom. He’s so stubborn,” Tinubu jocularly said.

Reflecting on his commitment to building on the legacies of the late President Muhammadu Buhari, Tinubu praised the virtues of honesty, justice, and discipline that he said he inherited from his predecessor.

“Part of what we inherited from Buhari was his honesty, transparency, justice. That’s all. You won’t have anything less than that,” he said.

The President also commended the unity and loyalty of CPC stakeholders, stating that their solidarity strengthens his resolve to work even harder.

“When I see people like you, my determination is to work harder. We are certain we are going to succeed,” Tinubu said, promising to build a ‘Buhari House’ that would serve as a symbol of joy and prosperity in honour of the late President.

Speaker of the House of Representatives, Tajudeen Abbas, who led the CPC delegation, assured Tinubu of their unwavering loyalty and pledged grassroots mobilisation in support of the administration’s second term in 2027.

“I want to seize this opportunity, Mr. President, to assure you of the unconditional support of all former members of the CPC,” Abbas said.

He dismissed notions that the CPC bloc was fractured or not aligned with the current administration, declaring: “From the calibre of people you see here, you will be convinced that the notion that CPC is broken or not with this administration is a lie.”

He further commended Tinubu for standing by the Buhari family and the CPC political family during the former President’s passing, noting that the burial was handled with unprecedented dignity and honour.

“It was unprecedented in the history of Nigeria for any former leader to be accorded such kind of respect,” Abbas said, citing the presidential delegations to the UK and the personal presence of Tinubu and the First Lady at multiple events in Katsina and Kaduna.

“We are together today with you, tomorrow and forever,” he concluded.

Also speaking, Senator Tanko Al-Makura, a former governor of Nasarawa State and leader of The Buhari Organisation (TBO), offered heartfelt appreciation to Tinubu for what he described as a dignified, transparent, and loyalty-driven handling of Buhari’s death.

“You did not only bury Muhammadu Buhari but honoured him and ensured a befitting state burial with full military honours,” Al-Makura said.

He praised Tinubu for sharing a vision with Buhari that was founded not on “political assemblage” or benefits, but on values of discipline, justice, economic sovereignty, and responsible governance.

“You and President Muhammadu Buhari shared more than a political alliance. You were united by purpose and vision, not benefits,” Al-Makura said.

He said the Renewed Hope Agenda was not just a slogan, but a “scientific, pragmatic, and rewarding blueprint for national restoration.”

Pledging the full support of CPC loyalists nationwide, Al-Makura added, “Our loyalty and commitment to you and your government is irrevocable.”

As the meeting ended, Tinubu promised that “the joy at the end of this journey” will belong to all Nigerians — and that the path of recovery had already begun.BREAKING NEWS: 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!

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National Pension Commission (PenCom) changes price disclosure rule

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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.

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

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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.

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