IMF Revenue Push: The IMF urged Nigeria to introduce new taxes on fuel products and telecom services, and to extend VAT to fuel, warning reforms must be paired with cash transfers to cushion the poor. FX & Reserves: Nigeria’s external reserves rose to $50.42bn as of June 10, extending gains above $50bn and supporting naira stability. Naira Moves: The naira weakened at the official window to about N1,362.05/$1 after a small loss. Anti-Drug Crackdown: NDLEA arrested a Brazil-based businessman at Lagos airport over 6.1kg cocaine hidden in shirts and towels, as part of wider seizures. Oil Theft Fight: The Nigerian Navy disrupted renewed illegal refining in Rivers, recovering suspected stolen crude and illegally refined AGO. Security & Transport: Bandits killed two and injured several in back-to-back ambushes on Oyo’s Kishi-Igbeti and Igboho-Igbeti roads; Kogi also imposed a night travel and okada ban in Kabba/Bunu corridors. Governance & Labour: NASU demanded allowance parity with ASUU in FG renegotiations. Business & Youth: Sterling Bank sponsored the 2026 Lagos schools debate competition, backing youth skills. South Africa Xenophobia Fallout: South Africa repatriated 2,745 foreigners in a week amid anti-migrant unrest, while local workers protested xenophobia’s economic impact.