The Big Story
Military Denies Civilian Deaths as Amnesty Alleges 100+ Killed in Zamfara Market Airstrike
Nigeria's military is facing fresh scrutiny after an airstrike on Tumfa town in Zamfara State left Amnesty International and local Red Cross officials alleging at least 100 civilians — including children — were killed. The armed forces insist there is "no verifiable evidence" of civilian casualties, saying the operation targeted armed groups. The incident fits a pattern researchers say has killed hundreds of civilians in Nigeria's conflict-hit north since 2017, raising pressure for an independent probe and tighter rules of engagement. The controversy also risks straining Nigeria's security partnerships as it continues to position itself as a key regional counterterrorism ally. [AP News]
What Else Is Happening
▪ Makinde set to formally launch 2027 presidential bid on APM platform at Ibadan rally.
The Oyo governor is expected to declare on the Allied Peoples Movement platform at a Unity Mega Rally, unveil APM candidates across offices and cement a new PDP-APM alliance that could reshape opposition politics ahead of 2027. [Punch]
▪ Ex-power minister Saleh Mamman sentenced to 75 years in prison for fraud.
A Nigerian court convicted the former minister on multiple counts of multibillion-naira fraud in one of the toughest recent penalties handed to a former federal minister. [Reuters]
▪ Fubara insists he remains APC member amid deepening Wike tensions.
The Rivers State governor publicly pushed back against resignation rumours and reports he walked out of the party's governorship screening, as his standoff with FCT minister Wike continues to cast uncertainty over his 2027 re-election prospects. [Premium Times]
▪ Civil society coalition warns SERAP judgment threatens civic space and anti-corruption advocacy.
A coalition of 52 organisations said the NGN100m defamation ruling against SERAP in favour of SSS operatives, and alleged delays in releasing the certified judgment, risk chilling advocacy and undermining judicial transparency. [Premium Times]
Market Watch
FX Naira held at NGN1,370.56/USD on May 13, broadly flat on recent levels, pointing to relative calm at the official window even as structural dollar demand remains high. [NGN Rates]
Equities NGX ASI edged up 0.04% to 252,508.2 on May 13, a fresh high, with market cap at NGN161.8trn. First HoldCo led activity but fell 10%; the banking index slipped 2.53% even as industrials and consumer goods posted modest gains. [Nairametrics]
Macro Total FX inflows hit $112.27bn in 2025, with autonomous private sources — remittances, portfolio flows and non-oil exports — supplying nearly 65% of supply. Private capital has overtaken the CBN as the main driver of dollar liquidity, redefining how Nigeria funds its currency market. [Nairametrics]
Quick Hits
→ Gunmen invaded a residential estate in Ogun State and abducted three members of a family, reinforcing concerns that violent kidnappings are spreading well beyond traditional hotspots in the northwest and north-central. [Vanguard]
→ The World Bank and NUC signed a $65m deal for a new phase of the SPESSE capacity-building project, targeting training for 24,000 Nigerians in procurement, environmental and social standards. [Nairametrics]
→ Nigerians remain among the world's most active USDT stablecoin users in 2026, reflecting continued use of crypto as a hedge against naira volatility and informal capital controls. [Nairametrics]
On a Lighter Note
Team Nigeria delivered a standout Day 2 at the African Athletics Championships in Accra, winning six medals including Tobi Amusan's third consecutive African 100m hurdles title and gold in the mixed 4x400m relay — a dominant performance that reaffirms Nigeria's status as the continent's athletics powerhouse. [Olympics.com]
Why It Matters
  The Zamfara airstrike allegations are the most serious civil-military accountability moment since the Kwara detention camp story — 100 civilians, including children, allegedly killed in a market demands an independent probe, not just a denial. Makinde's 2027 declaration reshapes the opposition landscape significantly; a Yoruba governor on APM changes the regional calculus. Mamman's 75-year sentence is the stiffest recent penalty for a former minister — it matters not just as punishment but as deterrence signalling. And the FX inflows data tells a quietly important story: Nigeria's currency stability is increasingly private-sector driven, not CBN-engineered — a structural shift with long-term implications for monetary policy independence.
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Produced with AI assistance using open-source web content. Sources have not been independently verified by Frontier Brief Media. Readers are encouraged to consult original sources before acting on any information herein.

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