Nigeria’s Presidential Spokesman, Bayo Onanuga, In an interview on Channels Television’s Politics Today program, spoke about the potential economic consequences of unchecked activity by cryptocurrency trading platform Binance in Nigeria. Onanuga warned that failure to rein in Binance’s activities could lead to dire consequences for the country’s economy. “If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate,” Onanuga stated Nigeria is presently facing numerous economic difficulties, including soaring inflation, particularly in food prices, a foreign exchange crisis, and overall economic hardship exacerbated by the recent removal of petrol subsidies.…
Author: Omolemi Eboisetale
The Chief of Defence Staff, General Christopher Musa, has called upon citizens to refrain from directing curses towards their own nation. General Musa made this plea during a one-day seminar organized by the Defence Correspondents’ Association of Nigeria (DECAN) at the Nigerian Army Resource Centre in Abuja. Addressing attendees at the seminar themed “Civil Military Relations: Non-Kinetic Efforts of the Nigerian Military in Security Management, Challenges, and Prospects,” General Musa emphasized the importance of national unity and ownership. He asserted that cursing or insulting the country does not contribute to its growth or development. General Musa stressed, “Cursing the country…
In response to mounting concerns over extortion and sexual exploitation, the Abia State government has taken a decisive step by banning all forms of beauty contests within its jurisdiction. This announcement was made by the Senior Special Assistant to the Governor on Entertainment and Tourism, Okey Justice Martins, during a press briefing held in Umuahia. Martins emphasized that the ban was prompted by reports stating the exploitation of participants in beauty pageants. He pointed out that certain individuals had been exploiting Abia girls under the guise of beauty contests, making false promises, and even facilitating their involvement in illicit activities.…
President Bola Tinubu has appointed Mr. Ibrahim Khalil Gaga as the Executive Director of Corporate Services at the Nigerian Export-Import Bank (NEXIM). This was disclosed in a statement released by Ajuri Ngelale, the special adviser to the President on media & publicity. Mr. Gaga, a seasoned lawyer with over 25 years of experience in both the banking sector and legal services, previously served as the Board Secretary and Legal Adviser of NEXIM Bank. His educational background includes an LLB Degree in Law from Bayero University, Kano, and a BL from the Nigerian Law School. Additionally, he holds…
The Nigeria Labour Congress (NLC) has decided to suspend its nationwide protests stating they’ve been able to achieve their objectives on the first day of demonstrations. This decision came after the NLC’s National Executive Council meeting, where it was concluded that the protest had effectively conveyed the pressing issues affecting the nation. The protests, which were staged in various states across the federation, aimed to address rising inflation, food inflation, forex crisis, and overall economic hardship exacerbated by the removal of petrol subsidy. Despite last-minute talks between the Presidency and labour leaders on Monday night, the protest went ahead as…
President Bola Ahmed Tinubu of Nigeria has stated his reason to eliminate the subsidy on petrol, stating it as a necessity for fostering a transparent and accountable energy sector. Speaking at the inauguration of the 2024 Nigeria International Energy Summit (NIES) in Abuja, President Tinubu acknowledged the hardships faced by citizens, particularly those with lower incomes, but assured that the economy would ultimately benefit from the decision. Represented by the Minister of Information and National Orientation, Mohammed Idris, President Tinubu stressed that energy security remains a top priority for his administration. He highlighted the strain that petroleum subsidies have placed…
Ajuri Ngelale, the Special Adviser to the President on Media and Publicity during an interview with TVC on Tuesday, termed the NLC nationwide protest as needless. Amidst Nigeria’s economic challenges, the NLC initiated a two-day protest aimed at pressuring federal and state governments to address widespread hunger and other pressing issues affecting citizens. NLC President, Joe Ajaero, presented a list of demands to the National Assembly in Abuja on Tuesday, calling for the full implementation of welfare measures, job creation initiatives, immediate subsidies to farmers to boost agricultural output, and the restoration of the nation’s four refineries, among other appeals.…
The Naira’s ascent against the US Dollar persists, with the currency experiencing further appreciation in the foreign exchange market amidst the ongoing Central Bank of Nigeria Monetary Policy Committee meeting. According to data sourced from FMDQ, the Naira surged significantly to N1,582.94 per USD on Monday, marking a notable increase from Friday’s rate of N1,665.50. This translates to a substantial 3.4% appreciation, indicating a positive trend for the Nigerian currency. Concurrently, at the parallel market, the Naira traded at N1,600 per USD on Monday, representing a notable rise from Sunday’s average of N1,500. Over the weekend, the Naira showcased a…
Islamic cleric Idris Tenshi has issued a public apology to Remi Tinubu, wife of Nigerian political leader Bola Tinubu, following his controversial remarks calling for her demise. Tenshi’s comments, made during a sermon where he labeled Mrs. Tinubu as an “infidel” and advocated for her killing, sparked widespread condemnation and calls for his prosecution. The cleric’s retraction came swiftly after facing immense backlash from various quarters, including the Muslim Media Watch Group of Nigeria and the Youth Wing of the Christian Association of Nigeria (YOWICAN), who demanded his arrest and legal action. Tenshi, acknowledging his error, expressed remorse in…
In Lagos State, and across Nigeria, members of the Take It Back Movement and the Nigeria labour congress staged a protest against government indifference to the plight of Nigerians after the NLC and representatives of the government led by President Bola Tinubu, failed to reach a resolution during a two-day meeting. The deadlock ensued despite last-minute efforts by Secretary to the Government of the Federation (SGF), Senator George Akume, to prevent the protest by inviting labour leaders for discussions. The meeting, attended by key government officials including ministers and the Director General of the Department of State Service (DSS),…
US President, Joe Biden, said that he hopes there’ll be a ceasefire in the Israel-Hamas conflict by “next Monday,” as the death toll in Gaza approaches 30,000, according to health officials. “Well I hope by the beginning of the weekend, I mean, the end of the weekend,” Biden said after being asked when a ceasefire might start during an appearance on Monday at an ice cream shop in New York City with comedian Seth Meyers. “My national security adviser tells me that we’re close. We’re close, it’s not done yet. And my hope is that by next Monday we’ll have…
Governor Babajide Sanwo-Olu’s administration disclosed that 90% of properties in Lagos currently operate without proper building approval. The announcement was made during the deployment of innovative ICT tools to streamline physical planning activities in the state, marking a significant leap towards efficiency and transparency. Governor Sanwo-Olu, represented by Dr. Olajide Babatunde, the Special Adviser on e-GIS and Urban Development, emphasized the administration’s commitment to enhancing the ease of doing business in Lagos. He outlined measures aimed at simplifying the process of obtaining building permits, including online accessibility to the Lagos State Planning Information Centre (LASPIC) for certified true copies…