Welcome to NowNowNaija! The Northern Youth Council pushes to end kidnappings by targeting ransom payments. Find out why this law could change the security landscape.

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The Northern Youth Council of Nigeria (NYCN) has urged authorities to criminalise ransom payments to stop rampant kidnappings. NYCN’s president, Isah Abubakar, says paying ransoms fuels banditry by providing funds that arm kidnappers and grow their networks.

This move could directly affect how families, businesses, and government respond to kidnappings, discouraging ransom payouts that inadvertently fund crime. If enforced, it may reduce kidnappers' resources and pressure security agencies to adopt tech-driven rescues, potentially making communities safer. Nigerians who have paid ransoms might need to reconsider, and companies could shift towards investing in security partnerships rather than ransom negotiations.

Source: The Nation Newspaper
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Rates shown are as of 6:00 AM Lagos time.

Starting January 1, 2026, a new tax law has come into effect, replacing the ₦50 Electronic Money Transfer Levy with a Stamp Duty charge on transfers of ₦10,000 and above. Banks have begun notifying customers about these changes and new daily withdrawal limits, stirring concerns among Nigerians about their dwindling purchasing power and the impact on small businesses.

This new tax hits your daily financial activities, making money transfers and withdrawals more costly. For many Nigerians, especially low-income earners and small business owners, this means tighter budgets and reduced spending power right as the year begins. Some are already changing financial habits, like withdrawing larger cash amounts in advance or prepaying expenses, to avoid the new deductions. The law also raises deeper worries about government transparency and the fairness of taxing when public funds seem mismanaged. Brace for a period of financial adjustment and cautious spending as this policy unfolds.

Source: Business News Nigeria
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What else is happening:

The GoodFellas International Club of Nibo announced plans to build a modern ICT and Innovative Skills Development Centre aimed at empowering youth with digital skills. The project was introduced at their annual Charity Ball in Anambra State, highlighting a commitment to community growth through education and technology.

This new ICT centre could transform opportunities for young people in Nibo and beyond, equipping them with practical skills needed for today’s digital economy. It means more access to technology training and innovation resources for the youth, which can lead to better jobs and entrepreneurial ventures. For communities across South-East Nigeria, this project signals a major step toward bridging digital divides and supporting local development futures. The club's call for wider support also shows potential for expanding impact through partnerships.

Source: The Guardian
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Analysts and experts are optimistic about Nigeria’s economy in 2026, citing improved external reserves, stabilizing inflation, and rising exports. The Central Bank of Nigeria forecasts reserves rising to $51 billion, supported by oil earnings and remittances. Key sectors like manufacturing, banking, and technology are expected to drive growth.

This means you could see a gradual easing in inflation and a more stable naira, helping your purchasing power improve over the year. Increased oil production and export growth mean stronger foreign exchange inflows, which may stabilize prices for fuel and goods. Corporate earnings growth could boost job opportunities and investment, while reforms may open more avenues for private-sector expansion that benefit small businesses and consumers alike.

Source: The Nation Newspaper
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What else is happening:

The Detty December Fest held in Ilubirin, Lagos, from December 7 to 29, brought a vibrant celebration of music and culture with global stars and top African artists. The festival featured headliners like Busta Rhymes, Gunna, Wizkid, and Tiwa Savage, blending established acts with emerging talents. It has quickly become one of Africa’s most anticipated year-end music events.

This festival puts Lagos firmly on the map as a hub for world-class live music and cultural events, attracting both local fans and holiday tourists. Its mix of legendary performers and fresh faces energizes the city’s entertainment culture, creating new opportunities for artists and boosting the local economy. For music lovers in Nigeria, it offers a unique chance each year to connect with global trends without leaving home. The festival’s success also signals growing recognition of Nigerian culture on the international stage.

Source: This Day Live
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The Social Feed:

Mozambique head coach Chiquinho Conde expressed respect for Nigeria's Super Eagles ahead of their Africa Cup of Nations round of 16 match. While recognizing Nigeria as favorites, Conde emphasized his team's readiness and determination after securing a historic first AFCON win.

This matchup highlights growing football rivalry and pride across African nations, drawing intense interest from fans and communities. For Nigerian supporters, this means rallying behind their team while being aware of Mozambique’s rising competitiveness. The match's outcome could influence team morale and fan enthusiasm deeply, shaping local support and passion for African football as the tournament advances.

Source: The Nation Newspaper
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Quote of the Day

“The payment of ransom only strengthens terrorists and prolongs insecurity.”
— Muhammadu Buhari