Morning recap: NYSC kidnappers slash ransom to N100m, Nigerians’ personal loans hit N2tn, other top stories

Politics Spice Special Features Education Sex & Relationship Interview Columns Opinion Advertise with us Morning recap: NYSC kidnappers slash ransom to N100m, Nigerians’ personal loans hit N2tn, other top stories News October 5, 2026 9:18 am File: Corps members

Kidnappers holding 20 prospective NYSC members in Imo State have reduced their ransom demand from N1bn to N100m as families raise fresh concerns over the victims’ safety.

Personal loans obtained by Nigerians have risen to an estimated N2.06tn amid persistent cost pressures and weak consumer spending, according to the Central Bank of Nigeria.

The Nigerian Army has bade farewell to discharged Master Warrant Officers at Depot Nigerian Army, Zaria, with their former command urging them to remain good ambassadors of the service.

The Dangote Refinery IPO has left investors weighing when they could begin to see returns from their investment, with analysts warning against borrowing to buy shares.

Afrobeats singers Tiwa Savage and Teni have sparked excitement after Savage accepted Teni’s proposed N1.5bn boxing challenge.

Temi Nkem has emerged as the winner of Big Brother Naija Season 11, taking home a prize package valued at N160m after beating Aikou and Sheba.

A 34-year-old woman accused of spying for China on the family of Taiwan’s president has been arrested by the FBI in the United States.

The West African Examinations Council has officially appointed 56-year-old Suleiman Kum as the new Head of its Nigeria National Office, succeeding Amos Dangut.

Brazil’s presidential election is heading for a run-off after Flavio Bolsonaro surprisingly finished ahead of President Luiz Inacio Lula da Silva in the first round.

Kidnappers holding 20 prospective National Youth Service Corps members abducted along the Owerri-Onitsha Road in Imo State have reduced their demand from N50m to N5m per victim. The families, however, remain deeply worried after alleging that the victims are being beaten in captivity.

Read full story: https://punchng.com/nysc-kidnap-kidnappers-slash-ransom-to-n100m-as-outrage-mounts/ File: Dangote Refinery

2. Dangote shares: How soon will returns come?

As the Dangote Refinery IPO progresses, investors are seeking clarity on when they could begin earning returns from their shares. Analysts say dividends could take time, while the share price itself could determine whether investors make gains or losses.

Read full story: https://punchng.com/dangote-shares-how-soon-will-returns-come/ The discharged senior officers. Photo: Nigerian Army

3. [ICYMI] Army sends off discharged senior officers

The Nigerian Army has held a send-off ceremony for discharged Master Warrant Officers of the Depot, Nigerian Army, Zaria. The command urged the former soldiers to maintain peaceful relationships in their communities and remain good ambassadors of the Army.

Read full story: https://punchng.com/army-sends-off-discharged-senior-officers/ File: CBN HQ

4. Personal loans rise to N2tn as Nigerians borrow more

Personal loans obtained by Nigerians reached an estimated N2.06tn in May 2026, accounting for nearly two-thirds of outstanding consumer credit. The increase comes amid weak consumer spending, elevated costs and growing repayment pressures.

Read full story: https://punchng.com/personal-loans-rise-to-n2tn-as-nigerians-borrow-more/

5. Tiwa Savage accepts Singer Teni’s boxing challenge

Tiwa Savage has accepted Teni’s playful proposal for a boxing bout after the singer offered a N1.5bn purse in a viral video. Savage responded with a brief challenge of her own, telling Teni to pick a date, although no fight has been formally scheduled.

Temi Nkem has won the 11th season of Big Brother Naija after beating Aikou and Sheba in the grand finale. Nkem will receive N100m in cash and a new SUV, taking the total prize package to N160m.

Read full story: https://punchng.com/temi-nkem-wins-bbnaija-160m-prize/

7. US arrests woman accused of spying for China on Taiwan leader’s family

US authorities have arrested Wanying Zhang, 34, over allegations that she acted as an unregistered Chinese agent and surveilled the family of Taiwan President Lai Ching-te. Prosecutors allege that she photographed the family’s home and vehicles and sent information to Chinese handlers.

Read full story: https://punchng.com/us-arrests-woman-accused-of-spying-for-china-on-taiwan-leaders-family/

The West African Examinations Council has formally appointed Suleiman Kum as the new Head of the Nigeria National Office. Kum, a longtime WAEC official, succeeds Amos Dangut, whose three-year tenure ended on October 1.

Read full story: https://punchng.com/waec-confirms-new-nigeria-head/

9. Bolsonaro shocks Lula as Brazil heads to run-off

Flavio Bolsonaro has unexpectedly finished ahead of President Luiz Inacio Lula da Silva in Brazil’s presidential election, forcing a run-off on October 25. Bolsonaro secured 47 per cent of the vote against Lula’s 45 per cent, in a result that defied opinion polls.

Read full story: https://punchng.com/bolsonaro-shocks-lula-as-brazil-heads-to-run-off/

Adetutu has three years experience in publishing stories on gender, health, education, metro and fact-checking.

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