Clarus of The New Masquerade dies in Lagos

Veteran Nollywood actor, Davis Offor, popularly known as Clarus in the iconic Nigerian television sitcom, The New Masquerade, has died.

The news was confirmed by his fellow actor on the sitcom, Dr Tony Akposheri, alias Zacky, this morning to Emdee David.

Clarus was a veteran actor and comedian who entertained Nigerians in the 1980s and early 1990s, best known for his role as the wide-eyed houseboy who worked alongside Gringory Akabuogu (played by the late James Iroha) and for Chief Zebrudaya (Chika Okpala).

Key aspects of his biography and life:

Rise to Fame: Clarus was a main character in The New Masquerade, a beloved NTA sitcom that ran from the 1980s into the early 1990s, focusing on social satire, class, and comedy.

Career Transition: After the peak of his comedy career, Offor left the entertainment industry, not due to his health, but to focus on a calling to become a minister of God.

Spiritual Life: He was ordained as a minister in the London-based Aetherius Temple and has been delivering weekly spiritual messages for over 25 years.

Health and Advocacy: Despite suffering from visual impairment (blindness) for many years, Offor has continued his ministry, stating that his sight condition is not a hindrance to his life or work.

Current Status: As of early 2026, he is known as Rev. David Offor and resides in Aba, where he focuses on his spiritual ministry.

Offor was part of the original, highly acclaimed cast of The New Masquerade that included Chief Zebrudaya, Gringory, Ovuleria, Jegede Shokoya, and others. Emdeedavid.com

Peter Obi Media Office warns of clandestine plot to block his candidacy as huge threat to Democracy

by Okey Muogbo

The Media Office of Peter Obi, the presidential front-runner for the 2027 election and the Labour Party’s candidate in the 2023 election, strongly alerts the nation and the international community to a sinister scheme orchestrated by President Bola Ahmad Tinubu and his ruling party aimed at denying Obi a platform for the upcoming January 2027 poll.

This underhanded plan has been in motion since the conclusion of the 2023 election, deliberately injecting crises into Obi’s Labour Party to prevent him from securing a foothold for the election.

It said that despite Obi’s relentless efforts to restore peace within the party, government infiltrators, aided by a compromised judiciary, have consistently thwarted these attempts.

It also recalled that in April 2025, the Supreme Court of our land delivered a ruling regarding the rightful control of the party. Yet, the ruling party has cavalierly disregarded this decision, using lower courts to undermine the authority of the Supreme Court effectively. When credible intelligence indicated that internal turmoil would persist until Obi was ousted, he made the difficult decision to exit the party to safeguard its future. As predicted by this scheme, when Obi left on December 31, 2025, the courts that had previously ignored the Supreme Court’s ruling suddenly took action on January 7, 2026, dismissing the meddlesome intrusions of Julius Abure and his faction.

Going further, the Media Office said that “after fully aligning with the African Democratic Congress (ADC) Coalition and bringing renewed vigour to the party, the ruling party escalated its efforts to sabotage him. They pursued bizarre legislative changes that culminated in a detrimental amendment to the Electoral Act, explicitly designed to exert pressure on the ADC and undermine Obi’s presidential ambitions.

“Obi’s visit on March 22, 2026, to the former Governor of Kano State and the 2023 presidential candidate of the NNPP, Senator Rabiu Kwankwaso, where he was warmly welcomed by Kwankwasiyya members, intensified the ruling party’s hostility toward him.

“The tipping point occurred during the ADC’s resounding rally in Kano on March 30, 2027, where Kwankwaso officially joined forces with the ADC. In a desperate move, the government manipulated the so-called Independent National Electoral Commission (INEC) to reinterpret an Appeal Court ruling, leading to the delisting of the ADC’s leadership and putting Obi and other aspirants at serious risk of being denied a platform.

“The Peter Obi Media Office meticulously documents these alarming developments to inform Nigerians and the international community of this orchestrated manoeuvre to disenfranchise Obi and pave the way for President Tinubu’s uncontested candidacy. They are attempting to create an illusion of democratic choice by propping up surrogates in various political parties while scheming for a one-party system in a nation of over 200 million people with rich diversity.

“For this dictatorial agenda to succeed, it would profoundly disservice to millions of Nigerians—particularly the youth, women, and intellectuals—who desire a transformative vision for Nigeria based on production rather than consumption, curbing waste, and eradicating deep-seated corruption within the system.

“The Media Office of Peter Obi categorically condemns this disturbing trend as a blatant scheme to undermine democracy, establish dictatorship, and continue exploiting the nation’s resources through corrupt practices.

“We emphasise the importance of transparency and integrity in our democratic system. We are dedicated to informing both Nigerians and the global community about these developments, urging a collaborative approach to strengthen our democracy.

“True democracy allows citizens to make informed choices about their leadership. As we move forward, it is crucial that the voices of the people—especially the youth, women, and intellectuals—are heard and respected. They seek a vision for Nigeria that prioritises production over consumption and works tirelessly to eradicate corruption.

“We therefore call on all stakeholders to uphold the values of democracy, ensuring that Peter Obi has the opportunity to present his vision for Nigeria to the electorate. Together, we can build a brighter future. A NEW IS POSSIBLE,” the Media Office concluded.

Before Iran, there was Zamfara: The rescue story Nigerians choose to forget

By Chidi Omeje

In the aftermath of the widely reported rescue of a downed American pilot following a missile strike in Iran, a familiar pattern has emerged in Nigeria’s digital public square: admiration for foreign prowess, quickly followed by derision for our own. Social media commentary has been rife with comparisons between the United States military and the Nigerian Armed Forces, comparisons that are not only intellectually lazy but also historically uninformed and unfair.

Yes, the United States possesses unmatched technological superiority, global reach, and decades of refined combat doctrine. But to suggest that Nigeria lacks the capability, courage, or operational coherence to rescue its own in hostile territory is to ignore a compelling and recent counterexample: the rescue of Flight Lieutenant Abayomi Dairo in Zamfara State in July 2021.

Let us revisit the facts.

Dairo’s fighter jet was downed after coming under heavy fire from armed bandits during an air interdiction mission. He successfully ejected, only to find himself stranded deep within hostile territory, under threat from bandit terrorists who were actively hunting him. What followed was not a tale of helplessness, but one of skill, resilience, and coordinated military response.

Using sheer survival instinct, Dairo evaded capture, navigating dangerous terrain and seeking temporary refuge. As night fell, he leveraged basic tools: a mobile phone for navigation, and his training to maneuver through bandit-controlled areas. Eventually, he reached a Nigerian Army unit, where he was safely extracted.

But this was no solo act of heroism. The Nigerian Air Force, under the directive of the Chief of Air Staff, immediately activated a multi-layered rescue operation. Intelligence, Surveillance, and Reconnaissance (ISR) platforms were deployed. Helicopter gunships provided close air support. Special Forces and ground troops coordinated a search-and-rescue mission under perilous conditions. The presence of NAF aircraft in the area alone was enough to deter pursuing bandits and buy the pilot crucial time to escape.

This is what a functioning military rescue operation looks like: adapted to context, constrained by resources, yet effective. So why the rush to dismiss it?

The answer lies partly in a deeper national malaise: a tendency to undervalue local competence while over-glorifying foreign systems. It is a mindset shaped by years of frustration with governance and infrastructure, but one that becomes dangerous when it blinds citizens to objective reality. Criticism is healthy in a democracy but it must be grounded in facts, not fueled by inferiority complexes.

Military operations are not one-size-fits-all. The terrain of Zamfara is not the deserts of the Middle East. The adversaries, bandits operating in decentralized clusters, are not conventional state actors like Iran. The resources available to Nigeria are not comparable to those of a global superpower. Yet within these constraints, the Nigerian military executed a successful rescue mission that preserved the life of its pilot and demonstrated operational synergy.

Moreover, such dismissive comparisons do a disservice to the men and women in uniform who risk their lives under extremely challenging conditions. These are individuals who operate with limited equipment, often in difficult terrains, against elusive enemies. And yet, time and again, they rise to the occasion.

This is not to argue that the Nigerian military is beyond criticism, especially when one recalls the unfortunate incident involving Brig Gen Uba of the Nigerian Army who was stranded in frontline and later captured and killed by Boko Haram terrorists. Far from it. Issues of funding, welfare, equipment, and strategy remain valid areas of concern. But critique must not descend into contempt. There is a difference between demanding better and denying what already exists.

National pride should not be mistaken for blind loyalty. It is, rather, an honest acknowledgment of effort, sacrifice, and achievement, especially when those achievements are hard-won.

The rescue of Flight Lieutenant Abayomi Dairo stands as a testament to what is possible when courage meets coordination, even in the face of adversity.

It is a reminder that while Nigeria may not yet match the technological sophistication of the United States, it possesses something equally vital: resilient personnel, adaptive strategy, and an unyielding commitment to mission success.

Before we rush to celebrate others at the expense of our own, we must first learn to see clearly. Because sometimes, the failure is not in our institutions but in our perception of them.

Chidi Omeje is the publisher of Security Digest (www.securitydigestng.com)

17 feared dead as gunmen attack Benue community on Easter Sunday

At least 17 people have been reported dead following a fresh attack on a community in Benue State.

The incident happened in Mbalom, Gwer East Local Government Area, on Sunday, April 5. the same day residents were observing Easter, Premium Times reported.

According to local accounts, gunmen stormed the community without warning and opened fire on villagers.

Residents said the attackers also set houses on fire, forcing many people to flee into nearby bushes for safety.

Several people are still reported missing as search efforts continue.

“This is heartbreaking. People were caught unawares. Many are still missing,” a resident said.

The attack has once again raised concerns about the recurring violence in parts of Benue, especially in rural farming communities.

Reacting to the incident, Governor Hyacinth Alia condemned the killings, describing the attack as “heinous” and unacceptable.

In a statement issued through his Chief Press Secretary, Tersoo Kula, the governor expressed sympathy to the affected families and assured residents that those responsible would be pursued.

He also pointed to what he described as a pattern of targeted attacks in some parts of the state and promised stronger security measures.

The governor commended security agencies for their response so far and urged them to intensify efforts to apprehend the attackers.

This is not the first time Mbalom has experienced such violence.

In April 2018, suspected herders attacked a Catholic church in the same community, killing two priests and several others during a morning service.

Sunday’s incident mirrors that earlier attack, with reports of killings, destruction of property, and displacement of residents.

Across Benue State, repeated attacks like this continue to disrupt lives and livelihoods, especially for communities that depend on farming. Dailyblast.

INEC orders suspension of nationwide voter revalidation

The Independent National Electoral Commission (INEC) has ordered all Resident Electoral Commissioners (RECs) to stop all arrangements and publicity for the planned voter revalidation exercise.

Newspotng reports that the directive was contained in a letter addressed to RECs, dated April 4, 2026, signed by its Secretary, Rose Oriaran-Anthony.

All RECs were ordered to pause their activities and await further instructions from the electoral commission.

The notice said the meeting of the commission with RECs, scheduled for April 9 at 11am, will now be held via Zoom.

The development comes amid concerns from stakeholders, including political scientists and the opposition, about the exercise.

The INEC had announced a nationwide revalidation exercise aimed at sanitising the voter register by removing ineligible entries and strengthening the credibility of future elections.

The African Democratic Congress (ADC) had earlier alleged that the voter revalidation exercise would be a “recipe for chaos” as it could disenfranchise millions of Nigerians ahead of the elections.

In a statement signed by the National Publicity Secretary, Mallam Bolaji Abdullahi, the party argued that requiring registered voters to revalidate their details less than 10 months to the polls would suppress turnout, deepen voter apathy, and unfairly exclude those unable to travel.

The ADC also questioned why such a major exercise is emerging just days to its proposed commencement, cautioning the INEC against actions that could be perceived as aiding “electoral manipulation.” Newpot.

Governor Idris felicitates with Kebbi on Easter celebration

By Okey Muogbo

Comrade Governor Nasir Idris of Kebbi has joined other world leaders in celebrating the Easter period with the Christian world, expressing satisfaction with the peaceful coexistence among the variou ethnic and religious communities in the state.

He noted that as stakeholders in the governance of the state, they have been making remarkable contributions through meaningful advice and active participation, particularly to his administration.

Governor Idris reminded them of the need for respecting the significance of the religiously obligated period and adherence to the religious related services.

He assured that his administration would sustain its policy of all inclusive government by ensuring the inclusion of all segments of the society in its pempowerment programmes, skills acquisition, educational opportunities and fair share of the state common wealth.

While appealing for their continous support for his administration, the Comrade Governor wished them a happy and memorable Easter celebration

Obi at Easter, preaches expectations after Good Friday sorrow

The African Democratic Congress ADC Presidential frontrunner and the Labour Party’s 2023 Presidential flagbearer Peter Obi has urged Nigerians at Easter to be very hopeful of an Alleluya Sunday after the Good Friday sorrow.

Writing in his X handle the former Anambra state Governor said in his Easter message to Nigeria christians, “As you commemorate the resurrection of Jesus Christ amid severe hardships, I urge you to remain hopeful bearing in mind that “Good Friday must come before Easter Sunday.”

“At Easter, I sincerely share with you the weight of the economic burden on families, even as I encourage you not to lose heart. Let us see our current struggles as a temporary “cross” that we must bear before our nation can experience a political and economic rebirth.

“Our dear country is bedevilled by poor leadership, leading to a period of intense suffering—symbolised by the crucifixion of Jesus Christ. However, the possibility of a “New Nigeria” (the resurrection) still exists through our resilience and better governance especially as our

Redeemer lives and assures us that a New Nigeria is possible.” We are very hopeful that even though the road to Alleluia may be rough and challenging, we believe it must arrive by 2027 by the grace of God. END

Bauchi Governor Mohammed Felicitates With Christians On Good Friday, Easter Celebrations

By George Coben, Bauchi

The Bauchi State Governor, Senator Bala Mohammed has extended warm Easter greetings to Christians in the state and across Nigeria as they commemorate Good Friday and Easter Monday.

A statement from the Governor’s Media/Publicity Adviser, Mukhtar Gidado, said that in a goodwill message to mark the occasion, Governor Mohammed congratulated christian faithful on the successful completion of the Lenten season and called on all citizens to embrace the core values of Easter; love, sacrifice, forgiveness, and peaceful coexistence.

He noted that Easter which commemorates the death and resurrection of Jesus Christ serves as a powerful reminder of hope, renewal and God’s enduring love for humanity, urging residents of all religious persuasions to reflect deeply on their relationship with God and with each other, emphasizing the need for unity beyond ethnic, religious, and political differences.

Governor Mohammed acknowledged the prevailing socio-economic and security challenges facing the nation, including global economic pressures, rising energy costs linked to international conflicts, expressing concern over them but reassured citizens of his administration’s commitment to safe guarding lives and property, while working tirelessly to improve living conditions across the state.

He further reiterated government’s commitment to sustaining peace, fostering resilience, and implementing policies in collaboration with the Federal Government aimed at alleviating hardship and promoting economic stability, calling on all citizens to support government’s efforts through cooperation, prayers, and continued faith in the collective strength of the people to overcome challenges.

“As a people known for our resilience, i am confident that we shall emerge stronger. Let us use this sacred season to renew our hope and commitment to building a peaceful and prosperous Bauchi State,” he stated.

The Governor concluded by wishing all christians a joyful and hitch-free Easter celebration, praying for Divine guidance, protection, and lasting peace in the state and Nigeria as a whole. END

Governor Idris felicitates with Kebbi on Easter celebration

By Okey Muogbo

He noted that as stakeholders in the governance of the state, they have been making remarkable contributions through meaningful advice and active participation, particularly to his administration.

Governor Idris reminded them of the need for respecting the significance of the religiously obligated period and adherence to the religious related services.

While appealing for their continous support for his administration, the Comrade Governor wished them a happy and memorable Easter celebration

Easter: Primate Ndukuba declares Christ the anchor of Living Hope

The 40-day Lenten fasting and praying observed by Christian faithful culminated in Easter Sunday celebrations marked by solemn reflection and renewed spiritual conviction across churches.

At the Cathedral Church of the Advent, worshippers gathered in large numbers for a thanksgiving service presided over by the Primate of the Church of Nigeria (Anglican Communion), Henry Ndukuba, who served as Chief Celebrant.

Delivering a sermon drawn from the Gospel according to Matthew 28:1–10, and themed *“The Living Hope,”* the Primate underscored the centrality of the resurrection of Jesus Christ to the Christian faith, describing Easter as “the celebration of great news and abiding gladness.”

Ndukuba said Christ’s resurrection represents a defining moment for humanity, offering believers a pathway to eternal hope. He emphasised that by conquering death, Jesus secured for all who believe in Him the promise of everlasting joy and redemption.

He further urged worshippers to interpret the Lenten season—characterised by fasting and prayer—as a period of expectation, noting that the resurrection serves as divine assurance that prayers are heard and answered.

Reflecting on the purpose of human existence, the Primate posed a rhetorical question on the essence of life without Christ, affirming that “He remains ever present with us.” He added that the future of believers is assured, anchored in the redemptive work of Christ, and called for humility and steadfast faith irrespective of life’s circumstances.

Concluding, Ndukuba reaffirmed that Jesus Christ remains “our enduring and everlasting hope,” urging the faithful to live in the fullness of that assurance. Newpot.

Tonight is the night that ended all nights

By Matthew Hassan Kukah

Tonight is the night. The night that ended all darkness. Tonight is the night. The night that split history. Tonight is the night. The night that sealed the wedding between heaven and earth. Tonight is the night. The night when the test of the cross became a testament of assurance. Tonight is the night. The night of promise fulfilled. Tonight is the night. The night that ended all nights. Tonight is the night. The night when all tears ended. Tonight is the night. The night when all fear melted. Tonight is the night. The night of victory. Tonight is the night. The night that ended all history. Tonight is the night. The night that answered all questions. I welcome you dear friends to the night that swallowed all nights. Tonight is the night. The night that united the voices of heaven and earth into one orchestra.

Tonight is the night. The night that those nails and thorns became a bouquet of God’s love. Tonight is the night. The night when the veil of the temple was split and the throne of God’s mercy was open to us. Tonight is the night. The night when the Golgotha, the hill of pain and suffering, became a lighthouse for our salvation. Tonight is the night. The night when the bitter vinegar became the foretaste of the blood of our redemption. Tonight is the night. The night when Pilate the judge became the accused, held prisoner by a tortured conscience which could not recognise the Truth when it stood before him. Tonight is the night. The night when mercy and justice were locked in an embrace that would bring forth peace. Tonight is the night. The night when humanity casts off the flesh and wears the spirit of immortality.

Tonight is the night. The night when salvation does not depend on finding ten righteous men but the night on which the portals of righteousness are opened for all to enter. Tonight is the night when yesterday and tomorrow are merged into one moment that our Saviour calls the Hour. Tonight is the night. The night that sleep surrenders to eternity. Tonight is the night. The night when doors closed by the disobedience of Adam and Eve give way to the portals of eternal life. Tonight is the night. The night when neither the seal on the grave nor mother earth could hold back the omnipotent one. Tonight is the night. The night when the lost sheep heard the voice of the master and returned home to safety. Tonight is the night. The night when like Thomas, our doubts are replaced by the words, My Lord and My God. Tonight is the night. The night he showed us his raw wounds. Tonight is the night. The night that made all prophesy redundant.

Tonight is the night. The night when those imprisoned by sin and death are, like Lazarus told to: come forth! Tonight is the night. The night that the betrayal of Eden finds redemption in the cross on the hill of Golgotha. Tonight is the night. The night when the stripes of humiliation, the tortured body, become testimonies of eternal love. Tonight is the night. The night we recall how Adam and Eve ate the fruit of a tree. Tonight is the night that a tree has become a cross, the symbol of our salvation and forgiveness. Tonight is the night. The night that a sword pierced his side and blood and water flowed. Tonight is the night we celebrate the waters of baptism and the blood of our redemption. Tonight is the night. The night that what was shame in our eyes, became a synonym with victory.

My dear friends, welcome to the final assurance of eternity. Welcome to the night when the cheque of promises issued by the prophets is finally cashed in the bank of eternity. Welcome to the night when fear is put into prison to serve a sentence for eternity. This is the night that ended our long, frustrating journey of uncertainty. Tonight is the night. The night that soldiers, fully armed and placed to protect the body of the Lord testified that they were likedead men.Tonight is the night of irony when falsehood was dressed up as truth and punishment became a reward. Tonight is the night. It is the night that ended all nights. Tonight, like the musician Johnny Nash said: We can see clearly now the rain is gone. All obstacles are gone!

My dear brothers and sisters, our five readings tonight are mostly from the Old Testament. The idea is to be remind us of how far we have travelled on the road of our salvation. The first reading reminds us of the story of our creation, a story that we are all familiar with. The second reading from the Book of Exodus highlights the drama of the crossing of the red sea. The third reading from the Book of Ezekiel draws our attention to the consequences of the disobedience of the people of Israel. Yet, God reveals His mercy when Ezekiel says: I will giveyou a new heart and place a new spirit within you, taking from your bodies your stony heartsand giving you natural hearts (Ezekiel 36: 27). The reading from the New Testament is from Romans and it speaks to the fact that: we were baptised into the death of Christ (Romans 6:3).

The Gospel recounts the drama of Mary Magdalene and her visit to the tomb. She, who was not a man or an apostle, suddenly becomes the announcer of the news of the risen Lord. She is to announce to the apostles that all is not ended and indeed a new chapter in their lives is now opening. Confused, she is told by the angel: Do not be afraid. Go and tell my brothers to go to Galilee where they will see risen Lord. From Galilee, a new ministry will begin, a ministry that we are now part of to the glory of God.

Now, my dear brothers and sisters, let me end by asking each and every one of us to examine ourselves. What we celebrate tonight is the climax of what started with Ash Wednesday. Some of us undertook the Lenten season and preparation in different ways, depending on the level of our commitment to our faith. Some fasted in different ways, others were at the Stations of the Cross, others prayed the Rosary along with other forms of devotion and works of mercy. Now, we have reached the zenith which we celebrate tonight. So, what will you take home from going forward? This celebration is our life as Christians. I therefore want to leave you with a few points to ponder between now and the next Easter night.

First, be a Mary Magdalene. Her faithfulness was rewarded and she became the first person to see Jesus when he rose from the dead. It was love, dedication and faithfulness that took her to the tomb. She went to the grave to perform a simple ritual and she thus she became a bearer of good news to the apostles.

Two, be a Veronica. In the Sixth Station of the Cross, Veronica wiped the face of Jesus. Veronica did not have the weapons to confront the soldiers, nor could she give the bloodied Jesus a new set of clothing. Moved by love, she used her head gear. She was left with an imprint of the Lord’s face! Each of us can do something to mend our broken world, to make the world a better place. Do not wait for a perfect moment or for the big stage. It may never come. God gives us the opportunities on our streets, our markets, every day and everywhere.

Three, be Simon of Cyrene. Whatever fate brings your way, any day and anywhere, take it in good faith. He was forced to help Jesus carry his cross. He could have run, but he took the challenge. Always learn to stand in the gap when circumstances present themselves.

Four, be a Joseph of Arimathea. He appeared at the right place and the right time and had his choice property at the right place. A rich man who had secured his place of final rest now has to give it up. Always be ready to make a sacrifice when the need arises. God gave us His only son. We should be ready to give the things we hold dear when the master needs it. God will be there whenever you need him.

Five, be like the thief on the right side of Jesus. It is never too late to approach the throne of God’s limitless grace and mercy. Imagine. Against the run of play, how could an armed robber be the next person to enter Heaven after Jesus? He did not even confess his sins, but it was enough that he sought for help. I often wonder, how did Jesus introduce him to His Father?

Finally dear friends, heed the words of one of my favourite songs of all time, the “Old Rugged Cross” where the writer exhorts us to: Cherish the rugged cross,/Till your trophies you lay down./Let us all cling to the old rugged cross and exchange it some day for a crown. May you receive your crown this Easter. Rejoice tonight, rejoice for the Lord is risen. A happy Easter. God bless our dear country.

** Matthew Hassan Kukah is the Bishop of the Catholic Diocese of Sokoto, Nigeria.

Nigeria’s money supply slips as domestic credit gains momentum

Nigeria’s broad money supply (M3) declined marginally to N123.15 trillion in February 2026 from N123.36 trillion recorded in January, according to the latest money and credit statistics released by Central Bank of Nigeria (CBN). Despite the slight month-on-month drop, the data still reflects strong year-on-year expansion from N110.71 trillion in February 2025, signaling that liquidity conditions in the economy remain elevated even as policymakers attempt to manage inflationary pressures.

Broad money (M3), which measures the total stock of money available in an economy including currency in circulation, savings deposits, demand deposits, time deposits and foreign currency holdings; remains a key indicator of economic activity, lending appetite and investment capacity. The marginal decline suggests a cautious tightening of liquidity conditions, consistent with the CBN’s ongoing effort to stabilise prices, support the naira and moderate inflation expectations without choking economic growth.

A breakdown of the figures shows mixed movements across key liquidity drivers. Narrow money supply (M2), which excludes foreign currency deposits, slipped slightly to N123.14 trillion from N123.35 trillion in January, indicating mild short-term liquidity tightening. Net foreign assets declined to N28.41 trillion from N29.61 trillion, reflecting reduced external inflows and weaker foreign buffers, while net domestic assets increased to N94.74 trillion from N93.76 trillion, suggesting that local credit expansion is increasingly driving liquidity growth in the economy.

The trend highlights a gradual shift in Nigeria’s liquidity structure, with domestic credit playing a more dominant role as foreign exchange inflows remain volatile. This rebalancing comes amid broader macroeconomic adjustments, including sustained efforts by the CBN to maintain price stability while ensuring adequate funding flows to productive sectors of the economy. Policymakers have retained a relatively tight monetary stance in recent months, balancing inflation control with the need to sustain economic momentum.

Further supporting the outlook, credit to the private sector rose by about N380 billion within one month, increasing from N75.241 trillion in January to N75.62 trillion in February. Private sector credit which includes loans, trade finance and other bank exposures to businesses, is widely regarded as a measure of the banking system’s contribution to economic expansion and productive investment. The increase signals continued financial sector support for businesses despite cautious liquidity management.

Overall, the marginal decline in money supply reflects the delicate balancing act confronting monetary authorities: containing inflationary pressures, stabilising the exchange rate and sustaining credit growth without triggering excessive liquidity expansion. Developments in money supply, particularly movements in M2 and net foreign assets, will remain critical indicators of the direction of monetary policy and the broader health of Nigeria’s macroeconomic environment. Newsscroll.

QUOTE: