Here is today’s summary from Nigerian Newspapers:

1. The Central Bank of Nigeria, CBN, has cleared the $7 billion foreign exchange (FX) backlog inherited by Governor Yemi Cardoso. This move fulfills a key pledge on his appointment and signifies a significant step towards restoring confidence in the economy. In a statement on Wednesday, CBN’s Acting Director of Corporate Communications, Hakama Sidi Ali, confirmed settlement of all valid FX backlog claims.

2. A Federal High Court in Abuja has declined the request by Edo State Deputy Governor, Philip Shaibu for an order directing parties in a suit he filed, including Governor Godwin Obaseki, the House of Assembly and others to maintain status quo pending the hearing and determination of the suit to stop his impeachment. Shaibu, is by the suit, seeking to among others, frustrate the move by the state House of Assembly to impeach him.

3. The Senate Joint Committee on Army, Navy, Defense, and Air Force, on Wednesday, March 20, held a meeting over the recent killing of soldiers in Delta State. The purpose of the hearing was to investigate the horrific deaths of military personnel that occurred last Thursday in the Okuama community of the Ughelli South Local Government Area of Delta State.

4. There is no one left in Okuama community in Ughelli South Local Government Area of Delta State where Army officers and men were killed, Governor Sheriff Oborevwori said yesterday. Describing the incident as strange, he said he was unable to reach any of the community leaders.

5. The National Assembly, on Wednesday, passed the Students Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. This comes after separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and TETFund.

6. The naira rebounded against the United States dollar on Wednesday at the official and parallel markets, with the local currency recording a significant gain against the greenback at the black market.

On Wednesday, the naira closed trading at 1,410/dollar at the parallel market and N1,492 at the official Nigerian Autonomous Foreign Exchange Market, according to data compiled from the FMDQ Securities Exchange.

7. The Kwara State Police Command has rescued PengChao Zhang, a Chinese national, from his abductors in a forest within the state, after spending 10 days in the kidnappers’ den. Zhang, known as Williams Kaka among his business associates, was rescued on Tuesday by police operatives after a series of searches and investigations by the Police Tactical Team and vigilantes in the state forest.

8. President Bola Tinubu has appealed to members of the National Assembly to exercise restraint in summoning heads of ministries, departments, and agencies before parliamentary committees. He spoke on Wednesday at the breaking of Ramadan fast with the Speaker of the House of Representatives, Tajudeen Abbas, and the leadership of the House.

9. Katsina State governor, Mallam Dikko Umaru Radda, has said he decided not to negotiate with bandits because he did not want them to feel the government was helpless. Radda who also advocated for state policing as part of measures to tackle insecurity that has plagued states, including Katsina, said governors need to be in charge of security in their states.

10. Properties worth millions of naira were destroyed in an early morning fire that consumed buildings in the Dosumu area of Idumota, Lagos Island on Wednesday. The fire which allegedly started from the second floor of a four-storey building later spread to four others.