News on the Go: 5 things that should matter to you today

• Babangida justifies $12.4bn Gulf oil windfall mismanagement despite Okigbo report
• Diesel shortage may cause nationwide telecom shutdown, ATCON warns
• Ukraine: Zelensky willing to give up presidency for Nato membership

We have highlighted the five most important developments in the news today, Monday, February 24, and present them below.

5 issues in the news that should matter to you today

1. Babangida justifies $12.4bn Gulf oil windfall mismanagement despite Okigbo report: The former military President, General Ibrahim Babangida, says Nigeria failed to maximise its oil boom years due to what he described as a nationwide “profligacy” and “conspicuous consumption” that undermined the economy’s long-term development.

He also justified the spending of the $12.4 billion oil windfall by his government.

“What I have done is not unusual in this country. Somebody did it before me, but I won’t mention names. We did undertake the construction of various ports and other projects (including bridges)”, he stated.

2. SERAP sues CBN over ATM charges hike: Socio-Economic Rights and Accountability Project has sued the Central Bank of Nigeria (CBN) “over the failure to reverse the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine transaction fees.”

In the suit number FHC/L/CS/344/2025 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to determine “whether the decision by the CBN to increase ATM transaction fees is not arbitrary, unfair, unreasonable, and contrary to the provisions of the Federal Competition and Consumer Protection Act 2018.”

3. Diesel shortage may cause nationwide telecom shutdown, ATCON warns: The Association of Telecommunications Companies of Nigeria has raised an urgent alarm over a diesel supply crisis caused by an ongoing strike by the Petroleum Tanker Drivers, a branch of the National Union of Petroleum and Natural Gas Workers.

ATCON President, Mr. Tony Emoekpere, disclosed in a statement on Sunday, February 23, that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.

4. FBI tells workers to ignore Elon Musk’s request for proof of work: Federal employees have been advised to disregard an email from Elon Musk demanding they submit weekly accomplishment reports.

Multiple agencies, including the FBI, FEMA, IRS, NOAA, CDC, and the Department of Energy, have instructed staff to ignore it while awaiting further guidance.

5. Ukraine: Zelensky willing to give up presidency for Nato membership: Ukraine President, Volodymyr Zelensky, has said he would be willing to give up his presidency in exchange for peace ahead of the third anniversary of Russia’s full-scale invasion of Ukraine.

“If you need me to leave this chair, I am ready to do that. And I also can exchange it for Nato membership for Ukraine,” the Ukrainian president said in response to a question during a news conference.