
Good morning,
Today’s Daily Digest brings together the key political, financial, and property market developments shaping Nigeria’s real estate and economic landscape. From a major court-ordered interim forfeiture linked to high-value properties, to the escalating political rivalry in Rivers State and its implications for governance and investor confidence, today’s stories highlight how power, policy, and capital continue to intersect.
As always, the focus is on context, clarity, and what these developments mean beyond the headlines.
Let’s get into it.
Wall Street Isn’t Warning You, But This Chart Might
Vanguard just projected public markets may return only 5% annually over the next decade. In a 2024 report, Goldman Sachs forecasted the S&P 500 may return just 3% annually for the same time frame—stats that put current valuations in the 7th percentile of history.
Translation? The gains we’ve seen over the past few years might not continue for quite a while.
Meanwhile, another asset class—almost entirely uncorrelated to the S&P 500 historically—has overall outpaced it for decades (1995-2024), according to Masterworks data.
Masterworks lets everyday investors invest in shares of multimillion-dollar artworks by legends like Banksy, Basquiat, and Picasso.
And they’re not just buying. They’re exiting—with net annualized returns like 17.6%, 17.8%, and 21.5% among their 23 sales.*
Wall Street won’t talk about this. But the wealthy already are. Shares in new offerings can sell quickly but…
*Past performance is not indicative of future returns. Important Reg A disclosures: masterworks.com/cd.
Court Orders Interim Forfeiture of 57 Properties Worth ₦213bn Linked to Abubakar Malami and Sons
n a landmark anti-corruption move, a Federal High Court in Abuja has ordered the interim forfeiture of 57 properties valued at approximately ₦213.23 billion, allegedly linked to the former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), and his sons.
The ruling was delivered on Tuesday, January 6, 2026, by Justice Emeka Nwite following an ex-parte application moved by the Economic and Financial Crimes Commission (EFCC). The court held that the assets are reasonably suspected to be proceeds of unlawful activities.
Gombe State Government Commits ₦35 Billion to Critical Infrastructure and Urban Renewal
The Gombe State Government has officially signed contract agreements for the execution of several major infrastructure projects valued at over ₦35 billion. This development follows the approval by the State Executive Council (SEC), presided over by Governor Muhammadu Inuwa Yahaya, and aims to expand the state's road network, upgrade public facilities, and enhance urban connectivity. The projects, which cover strategic locations across the state, are a central component of the administration's "Network 11-100" initiative, designed to construct at least 100 kilometres of roads in each of the 11 local government areas.
Political Power Struggles Are Reshaping Investor Confidence and Urban Renewal in Rivers State
In Rivers State, politics has once again spilled beyond party lines and campaign rhetoric into the foundations of bricks, mortar, and land titles. As 2026 opens, the escalating rivalry between Governor Siminalayi Fubara and Federal Capital Territory (FCT) Minister Nyesom Wike has evolved into more than a contest for political relevance, it has become a defining stress test for investor confidence, urban renewal, and the future shape of one of Nigeria’s most valuable subnational economies.
CBN and NDIC Contest Court Power in Mortgage Bank Licence Case
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have formally contested the jurisdiction of the Federal High Court in Abuja regarding a lawsuit over the revocation of operating licences for ASO Savings and Loans Plc and Union Homes Savings and Loans Plc. The regulatory bodies argue that the judiciary lacks the competence to adjudicate on the matter, asserting that the withdrawal of the licences was a valid exercise of statutory powers. This legal confrontation arises as stakeholders seek to overturn the apex bank's decision to shut down the two primary mortgage institutions.
FX MARKET SNAPSHOT
USD > NGN | 1,468.26 | Up by 0.11% |
GDP > NGN | 1,978.15 | Down by 0.00% |
EUR > NGN | 1,715.75 | Down by 0.00% |
CAD > NGN | 1,058.02 | Up by 0.00% |
Economy Watch
From FIRS to NRS: How Nigeria’s New Revenue Service Aims to Eliminate Multiple Taxation
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, has detailed how the transition of the agency into the Nigeria Revenue Service (NRS) will serve as the catalyst for a total overhaul of the country's fiscal landscape. Speaking before the House of Representatives Committee on Finance, Adedeji clarified that the move, enshrined in the Nigeria Tax Bill, is designed to replace the current fragmented tax system with a modern, functional framework. This shift is expected to centralise revenue activities and provide a more transparent environment for both domestic and international investors.
US-Nigeria Relations 2026: Trump’s Impact on Trade, Visas & Security
As of early 2026, the diplomatic landscape between Washington and Abuja has been fundamentally recalibrated. Under the second administration of President Donald Trump, the relationship has shifted from traditional diplomatic cooperation to a high-stakes, transactional model. Defined by a "Trade, Not Aid" mantra and aggressive national security stances, the "Trump 2.0" era is presenting both existential risks and unique opportunities for Africa's most populous nation.
Quote of the day:
“Clarity comes from preparation. The more you understand the risks before you act, the stronger your decisions become.”
Produced by: Amarachi Okeke
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