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Wednesday, July 1, 2026

Nigerian Military Eliminates 224 Terrorists, Rescues 279 Kidnap Victims in Major Northwest and North-Central Offensive

Nigerian military personnel conducting counter-terrorism operations against armed terrorists and bandits in Northwest and North-Central Nigeria.
  Premium News Naija 


The Nigerian Armed Forces have recorded another significant success in the country's fight against terrorism and banditry, announcing the elimination of 224 terrorists and the rescue of 279 kidnapped victims during coordinated military operations across the Northwest and North-Central regions.

According to military authorities, the operations targeted terrorist enclaves, armed bandit camps and criminal hideouts responsible for persistent attacks on communities, highways and rural settlements. The offensive forms part of ongoing efforts to restore peace and improve security across northern Nigeria.

Major Counter-Terrorism Breakthrough

Military officials disclosed that intelligence-led operations involving ground troops and other security assets resulted in fierce encounters with terrorist groups operating in several locations.

The coordinated offensive led to the neutralisation of 224 terrorists while several others reportedly fled with injuries. Troops also destroyed criminal camps and disrupted logistics networks used by armed groups.

Security experts say sustained military pressure is gradually weakening the operational capacity of terrorist organisations and armed bandits operating across the affected regions.

279 Kidnapped Victims Freed

One of the major highlights of the operation was the successful rescue of 279 kidnapped victims.

The rescued victims include women, children and elderly persons who had been held captive by terrorists and bandits. They have reportedly received medical attention and humanitarian assistance before being reunited with their families or handed over to relevant government agencies.

Weapons and Equipment Recovered

The military also recovered a significant cache of weapons and operational equipment during the raids.

  • Assault rifles
  • Locally fabricated firearms
  • Large quantities of ammunition
  • Motorcycles used by terrorists
  • Communication gadgets
  • Other logistics equipment

Officials said the recovered weapons would help reduce the operational capabilities of criminal groups.

Military Intensifies Security Operations

The latest operation forms part of broader nationwide efforts to combat terrorism, banditry, kidnapping and other violent crimes.

Security agencies have increasingly adopted intelligence-driven operations, enhanced surveillance and closer collaboration with local communities to identify criminal hideouts and prevent attacks.

Military authorities reaffirmed their commitment to sustaining offensive operations until terrorist networks are dismantled and peace is restored across affected communities.

Government Calls for Public Support

The Federal Government has continued to urge Nigerians to support security agencies by providing timely and credible intelligence.

Authorities believe community cooperation remains essential in preventing attacks and strengthening national security.

The elimination of 224 terrorists and the rescue of 279 kidnapped victims represent another important milestone in Nigeria's fight against insecurity.

Although security challenges remain, analysts believe sustained military operations, improved intelligence gathering and stronger collaboration between security agencies and citizens will continue to improve safety across the country.

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CBN Shuts Down 46 Microfinance Banks Over Insolvency and Regulatory Breaches

Central Bank of Nigeria (CBN) official logo representing Nigeria's apex financial institution overseeing monetary policy, banking regulation and financial stability.
  Premium News Naija 


Nigeria's banking industry has witnessed another significant regulatory action following the decision by the Central Bank of Nigeria (CBN) to revoke the operating licences of 46 microfinance banks over persistent regulatory violations, insolvency and failure to meet statutory obligations.

The action, announced through an official gazette, reflects the apex bank's commitment to strengthening financial stability, protecting depositors and ensuring that only financially sound institutions remain in operation. According to the CBN, the affected banks failed to comply with key provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the Revised Regulatory and Supervisory Guidelines for Microfinance Banks.

Reasons Behind the Licence Revocation

The Central Bank stated that the affected microfinance banks were found to have committed serious regulatory breaches, including:

  • Persistent insolvency and inability to meet financial obligations.
  • Failure to maintain minimum capital requirements.
  • Prolonged inactivity or cessation of banking operations.
  • Failure to submit statutory returns.
  • Repeated non-compliance with CBN directives.
  • Poor corporate governance and weak risk management.

Financial experts say these deficiencies threaten the safety of depositors' funds and undermine confidence in Nigeria's financial system.

What Happens to Depositors?

The revocation of licences does not automatically mean depositors will lose their money. The Nigeria Deposit Insurance Corporation (NDIC) is expected to oversee the liquidation process and reimburse insured depositors in accordance with the law.

The NDIC has advised customers of affected banks to await official announcements regarding claims verification and payment procedures.

Impact on Small Businesses and Financial Inclusion

Microfinance banks play a critical role in Nigeria's economy by providing financial services to small businesses, traders, farmers, artisans and low-income households that often lack access to conventional banking services.

While the closure of 46 institutions may create temporary challenges for some communities, analysts believe the long-term effect will be a healthier and more resilient microfinance sector.

Removing weak institutions is expected to improve public confidence, encourage stronger corporate governance and promote responsible banking practices.

CBN Tightens Banking Supervision

The latest enforcement action forms part of the Central Bank's broader effort to strengthen supervision across Nigeria's financial sector.

Over the past few years, the regulator has intensified monitoring of commercial banks, mortgage institutions, finance companies and microfinance banks to ensure compliance with prudential guidelines and capital adequacy requirements.

The CBN maintains that institutions that fail to meet regulatory standards cannot be allowed to continue operating because they pose significant risks to depositors and financial stability.

Advice to Customers

Customers of the affected banks are advised to:

  • Confirm whether their bank is among those affected.
  • Keep account records and identification documents safe.
  • Follow official announcements from the CBN and NDIC.
  • Avoid relying on unverified reports circulating on social media.


The revocation of 46 microfinance bank licences demonstrates the Central Bank of Nigeria's determination to enforce banking regulations and maintain confidence in the country's financial system.

Although the decision may cause short-term disruption for some customers, financial experts argue that removing insolvent institutions ultimately strengthens the banking industry by promoting transparency, accountability and financial discipline.

As Nigeria continues to pursue financial inclusion and economic reforms, stronger regulatory oversight is expected to improve the resilience of the banking sector and protect the interests of millions of depositors.


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