A communal clash between Hausa and Fulani residents in the Alwasa community of the Argungu Local Government Area of Kebbi State has left three people dead and several others displaced.

The violence began following a disagreement between Hausa and Fulani youths over reckless motorcycle riding, which escalated into a confrontation.

During the clash, a Fulani youth allegedly stabbed a Hausa youth, triggering further violence.

Speaking during a visit by the Kebbi State Governor, Nasir Idris, to assess the situation, the chairman of the Argungu Local Government, Sani Gulma, said the incident worsened after the suspect fled the scene.

“After the suspect ran away, some Hausa youths launched a reprisal attack on a Fulani settlement, leading to the death of two persons and the displacement of many,” he said.

“Most of those killed were innocent and not directly involved in the conflict, yet they paid the ultimate price,” he added.

Governor Idris, while condoling with the affected community, condemned the violence and warned against further reprisals.

“I have directed security agencies to track down the individual who initiated this crisis. I assure you that justice will be served,” the governor stated.

He emphasised the long-standing peaceful coexistence between the two communities.

“Alwasa has enjoyed over 100 years of peaceful coexistence between the Hausa and the Fulani. We will not allow a few individuals to disrupt this harmony,” he said.

Idris also announced a donation of two million naira each to the families of the deceased as support.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged African financial regulators to strengthen cooperation in managing cross-border risks.

He also restated the CBN’s commitment to entrenching robust corporate governance in Nigeria’s financial system.

Speaking at the fourth Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held at the CBN headquarters in Abuja on Tuesday, March 24, 2026, Cardoso explained that, as African banks and financial systems become increasingly interconnected, collaboration among regulators is not optional but essential to safeguard stability and ensure shared prosperity across the continent.

The CBN governor urged African regulators to deepen cooperation in managing cross-border risks, emphasising that regional financial integration is outpacing political coordination.

He called for the adoption of shared prudential principles tailored to Africa’s realities, noting that this framework would enable regulators to respond jointly and effectively to emerging vulnerabilities while supporting inclusive growth.

Building on this continental vision, the apex bank’s governor outlined how Nigeria’s regulatory and supervisory reforms exemplified proactive leadership.

He recalled that in 2024, the CBN anticipated upcoming challenges and launched the Banking Sector Recapitalisation Programme to strengthen the resilience of Nigerian banks.

This proactive policy, he noted, inspired similar reforms across Africa, adding that Nigerian banks, despite navigating subsidy removals and exchange rate reforms, attracted ₦4.61 trillion in new capital, nearly 27 per cent from foreign investors, while even expanding their footprint across African markets.

Cardoso reaffirmed the bank’s commitment to robust corporate governance, emphasising decisive measures such as ending years of regulatory leniency and restricting banking services to chronic defaulters.

“Our stance on corporate governance is unequivocal: zero tolerance for violations. By ending years of regulatory forbearance, we have reinforced accountability, tightened supervision, and elevated compliance standards across the sector,” he declared.

“In line with this, we have implemented a restriction of banking services to non‑performing large‑ticket obligors. This decisive step underscores our commitment to credit discipline, financial integrity, and accountability.

“By curbing access to banking services for chronic defaulters, we are reinforcing the culture of repayment, protecting depositors, and safeguarding the stability of the financial system,” Cardoso added.

On the policy front, he reiterated that the CBN remains firmly anchored in orthodox monetary policy, focused on restoring price stability, strengthening policy credibility, and anchoring expectations through discipline and consistency.

Speaking further on the transformative role of financial technology, the governor outlined the bank’s deliberate strategy to engage and regulate Fintechs in a way that balances innovation with stability.

He said the CBN’s Fintech Policy Report and structural reforms were part of ongoing efforts to build supervisory capacity for a fast-evolving digital financial ecosystem.

Cardoso stated that the forum should continue to serve as a platform for collective learning and action, where regulators can analyse shared challenges, exchange insights, and develop a cohesive African response to global financial trends.

He visualised a future where collaboration among African regulators becomes the continent’s strongest defence and greatest asset, transforming its financial systems into catalysts for sustainable growth and development.

In his opening remarks, the Director, IMF/AFRITAC West 2, Ivohasina Fizara Razafimahefa, said the gathering served as a platform for open dialogue between staff of the International Monetary Fund (IMF) and national financial regulators, enabling the sharing of practical experience, technical insights, and policy innovations across participating countries.

According to him, the forum concentrated on emerging and rapidly evolving risks affecting financial stability, noting that this year’s discussions centred on collective strategies to tackle challenges arising from digital finance, fintech expansion, artificial intelligence (AI), and climate-related financial risks.

These issues, he observed, would demand regional coordination, proactive regulation, and ongoing dialogue among stakeholders to protect the resilience of Africa’s financial systems.

The IMF AFRITAC West 2 High-Level Executive Forum, which attracted senior representatives, including Central Bank Deputy Governors, from six member countries, reaffirmed its commitment to collaboration and shared learning in addressing the region’s evolving financial stability challenges.

The Minister of Power has apologised to Nigerians over power outages but is promising improvements across the country in the coming days. 

Nigeria’s Minister of Power, Adebayo Adelabu, made the promise on Tuesday during a press conference on his achievements in the last three years.

“I want to apologise to Nigerians, officially now, coming from me as the minister of power, for this temporary issue that is leading to hardship being experienced, especially during this dry season, where there is so much heat everywhere,” he said.

“Businesses are being affected, schools have been affected, and industries have been affected. It is not our wish to find ourselves in this situation, but it is due to some factors that are actually beyond our control.”

The minister attributed the current challenges to gas supply shortfalls to the generation companies due to the huge amounts of money owed to gas suppliers.

He hinted that the current war in the Middle East could further worsen the problems.

Nigerians have experienced power outages in recent weeks, leading to calls on authorities to address the issue.

The country’s power sector relies on gas-fired plants. But they have continued to face disruptions largely due to inadequate gas supply, pipeline maintenance issues, ageing infrastructure, and liquidity constraints.

“These issues collectively impact both the quantity and quality of gas delivered to power plants, leading to underutilisation of installed generation capacity, increased outages, and inefficiencies in power production,” the minister said.

To address this challenge, the minister suggested “scaling up renewable energy solutions, particularly off-grid and mini-grid systems”.

“Renewable energy offers a cost-effective and sustainable pathway to expand access without overburdening the national grid,” he said.

He also called for the integration of additional renewable energy into the grid. The minister said this will help diversify energy sources and reduce overall generation costs, particularly by lowering dependence on gas-fired power.

“Integrating utility-scale solar, hydro, and other renewables will also enhance energy security and support climate objectives,” he said.

“This will require investments in grid monitoring and control systems and system planning to effectively manage intermittency while maintaining grid stability.

Away from the power sector, Adelabu, whom observers suggest is eyeing the Oyo governorship seat in the 2027 elections, did not confirm if he is contesting for the post.

President Bola Tinubu gave appointees at the federal level a March 31st deadline to resign if they have political ambitions.

But the minister says he still has some days until the deadline. He insisted that, either at the national or subnational level, he aims to serve.