The Federal Capital Territory Administration (FCTA) has granted exclusive licenses to Nairaxi and Bolt for operating ride-hailing apps in Abuja under its Public Transport Management Scheme. The announcement was made yesterday by the FCTA Transportation Secretariat through its Public Transport Management Scheme under the Directorate of Road Traffic Services (DRTS-FCT). This strategic decision designates Bolt and Nairaxi as the only licensed ride-hailing operators authorized to provide on-demand transport and logistics services through mobile applications in the Federal Capital Territory. “The Administration will soon commence enforcement operations on non-compliant operators, and others are expected to initiate their licensing processes to avoid…
Author: Omolemi Eboisetale
The CBN Governor stated that the new policies by the apex bank, ushered in an era of accessibility to foreign exchange, eliminating the need for personal connections within the banking sector. The Central bank Governor, Cardoso, revealed these transformative policies during a pre-recorded interview with Arise TV on Monday, February 5, 2024. Cardoso emphasized that the primary objective of these reforms is to eradicate the need for Nigerians to have personal connections within the central or commercial banks to secure foreign exchange. The governor highlighted the importance of creating a transparent system where individuals can easily access foreign exchange without…
On World Cancer Day, the dire situation of cancer care in Nigeria became an issue of concern, heightened by the exorbitant treatment costs leading to an annual death toll of 78,899. Statistics reveal that about 124,815 Nigerians are diagnosed with cancer each year, but due to the lack of affordable care, a large portion succumbs to the disease. The financial burden on individuals seeking treatment is substantial, ranging from N10 million to N30 million per patient, making it a luxury beyond the means of many in a country where over 80 million people are considered multidimensionally poor. Early detection and…
British Prime Minister Rishi Sunak Admitted that his government has fallen short on its key healthcare promise to reduce waiting lists in the National Health Service (NHS). Sunak, who outlined five major policy pledges at the beginning of 2023, including a commitment to tackle the strained NHS waiting lists, acknowledged, “We have not made enough progress.” The confession comes against a backdrop of mounting concerns, with a near-record 7.6 million people in England waiting for non-emergency NHS hospital treatment, a stark increase from the figures when Sunak assumed office in late 2022. Official data from last November indicates a…
The national grid has been restored, bringing relief to numerous areas in Nigeria that experienced a power outage due to a system failure on Sunday. Eko Electricity Distribution Company, in an update on its Twitter handle (now X), informed customers that electricity supply has been successfully restored across the nation. The power outage was a result of a drop in the country’s power supply, plummeting by 93.5% to 273 megawatts in the early hours of the day. This decline was drastic compared to the 4,182MW recorded on Monday, creating a pressing situation for both consumers and the power sector. The…
In response to the current forex challenges plaguing Nigeria, the Central Bank of Nigeria (CBN) has prohibited the use of foreign currencies for transactions within the country. Underlining its stance, the CBN invoked the provisions of the CBN Act, 2007, which explicitly designates the local currency as the legal tender in Nigeria. Individuals and corporate entities are now cautioned against accepting or making payments in foreign currencies for goods and services, with violations carrying severe consequences. According to a statement by Ibrahim Muazu, the CBN’s Director of Corporate Communications, the central bank has observed a rising trend of…
U.S. President Joe Biden secured a decisive win in the South Carolina Democratic primary, marking the official kickoff of the party’s nominating season. Edison Research reported that Biden garnered an impressive 96.4% of the votes with 93.3% of precincts reporting, leaving his two main challengers, U.S. Representative Dean Phillips and self-help author Marianne Williamson, far behind. This victory holds significant importance as South Carolina’s Black electorate, which comprises more than half of the Democratic voter base, reaffirmed its support for Biden. Notably, the state played a pivotal role in Biden’s 2020 campaign, with the Black vote propelling him to…
Socio-Economic Rights and Accountability Project (SERAP) has called on President Tinubu to initiate a thorough investigation into the alleged disappearance of a $3.4 billion loan obtained from the International Monetary Fund (IMF). In a letter dated February 3, 2024, SERAP urged the President to direct the Attorney General of the Federation and anti-corruption agencies to probe the allegations of missing, diverted, or unaccounted funds. The 2020 annual audited report published by the Auditor-General of the Federation last week revealed troubling findings, including the absence of documents tracking the movement and spending of the IMF loan. SERAP emphasized the importance…
The nation experienced a widespread blackout on Sunday morning as the Transmission Company of Nigeria (TCN) managed grid collapsed at approximately 11:51 AM. This reduced the electricity system’s capacity from 2,407 megawatts to a mere 31MW by noon, ultimately reaching zero by 1 PM. Despite the Federal Government’s privatization of the sector over eleven years ago, the power grid’s persistent unreliability has failed consumers on more than 141 occasions. Distribution companies are already alerting customers about the situation, while generation companies express growing concerns over the impact on the safety and durability of their equipment. Kaduna Electric confirmed that…
Faleh al-Fayyad, the head of Iraq’s pro-Iran Hashed al-Shaabi alliance, has called for the immediate withdrawal of US-led coalition forces from the country. This demand comes in the aftermath of deadly US strikes that targeted Hashed al-Shaabi positions in western Iraq. Allegedly responding to a January attack on a Jordanian base that claimed the lives of three US soldiers, the recent US strikes have escalated tensions between the two sides. During a funeral ceremony for Hashed al-Shaabi members killed in the strikes, al-Fayyad accused the coalition of hitting administration offices, a hospital, and forces responsible for protecting borders. …
The Federal Inland Revenue Service (FIRS) has announced plans to enforce tax payments for social media content creators and influencers in Nigeria. According to Dare Adekambi, Special Adviser on Media to the FIRS chairman, these influencers constitute a significant group of tax evaders. Adekambi highlighted that many content creators, including skit makers and influencers, are not fulfilling their civic obligation to pay taxes despite earning income in dollars. The FIRS aims to collaborate with the Corporate Affairs Commission (CAC) to bring these digital entrepreneurs into the tax net. While acknowledging the challenge of tracking these individuals, Adekambi emphasized…
On Thursday, a wedding convoy in Damari town, Sabuwa Local Government Area of Katsina State, was targeted by suspected bandits, Reports confirm that at least 55 wedding guests, who were escorting a bride home, were kidnapped in a brazen attack. Details reveal that the victims were traveling in an open van referred to as a canter vehicle when the hoodlums launched their ambush. Regrettably, the attempt to rescue the abducted guests resulted in the loss of three local security volunteers. The targeted wedding guests numbered over 70, primarily friends of the bride, and some managed to escape by…