Author: Adejuyigbe Francis

The Central Bank of Nigeria (CBN) has denied a report suggesting that it plans to redenominate the country’s legal tender, the Naira, with effect from January 2024. The rebuttal followed the wide circulation of a text message suggesting that the Bank plans to redenominate the Naira. In a release signed by the Director of Corporate Communication, Dr Isa AbdulMumin, the Apex bank said: “We are concerned that this narrative, which we had refuted before now, appears to be gaining traction with several debates on the implication of such a policy for the Nigerian economy. “We wish to reiterate that the…

The Court of Appeal in Abuja has reversed the nullification of the candidacy of the All Progressives Congress (APC) in the November governorship election, Chief Timipre Sylva, thus clearing the coast for his participation in less than 12 days to the poll. The appellate court in a judgment delivered on Tuesday held that Justice Donatus Okorowo of the Federal High Court was wrong in ordering the sack of Sylva as a candidate of the APC in the November 11, governorship election in Bayelsa State. According to the judgment, the trial court erred by assuming jurisdiction in the matter on grounds…

Vinícius Júnior has extended his contract at Real Madrid until June 2027, the LaLiga club announced on Tuesday. The Brazil forward, 23, joined Madrid in July 2018 and has established himself as one of the club’s most important players. “Real Madrid CF and Viní Jr. have agreed the extension of the player’s contract, who will remain at the club until June 30, 2027,” Madrid said in a statement. “Viní Jr. arrived at Real Madrid in July 2018, aged just 18 years old, and made his debut for Real Madrid Castilla on August 26. In his six seasons wearing the first team shirt he has played…

Saudi Arabia is set to host the men’s 2034 World Cup after Australia decided against bidding to stage the tournament. Football Australia confirmed its decision only hours before Fifa’s deadline for declarations of interest on Tuesday. Saudi Arabia is the only other nation to bid. “We have reached the conclusion not to do so for the 2034 competition,” read a statement from Football Australia. Australia’s governing body says it intends to focus its efforts on hosting the AFC Women’s Asian Cup in 2026 and the Club World Cup in 2029. The 2026 World Cup will take place in the US,…

Dr. Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation, has alerted Nigerians on the existence of portal designed by undesirable elements to defraud Nigerians. ”The said portal is fake, created by undesirable elements with the sole intention of defrauding unsuspecting members of the public. ”There will never be a portal from either the ministry, departments and agencies of government or its partners to apply in order to access funds from the humanitarian and poverty alleviation trust fund. ”The general public is, therefore, advised to discountenance the link being circulated,” the minster said.

Abdulazeez Fashola, popularly known as Naira Marley, and prominent Lagos socialite, Samson Eletu, also known as Sam Larry, have taken legal action against their prolonged detention by the Police. In the suit, the Police and Chief Magistrate Adeola Olatunbosun, who ordered their remand for 21 days, have been named as defendants. Naira Marley and Sam Larry are each seeking ₦20 million in damages from the defendants. Their lawyer, Olalekan Ojo (SAN), filed the suit, urging the court to declare their continued detention at the Homicide Section of the Lagos State Police Command a violation of their rights. The deponents in the affidavits attached…

Governor Simi Fubara of Rivers State and Nyesom Wike, his predecessor, are currently at the Presidential Villa in Abuja. The duo, who reportedly fell out less than six months after succession, have been in the news since the reported move of the Rivers House of Assembly to impeach the governor. Fubara had stormed the assembly while some lawmakers said loyal to Wike were said to be planning his removal. More to come…

The Abuja Division of the Court of Appeal has affirmed the Peoples Democratic Party (PDP) candidate, Natasha Akpoti-Uduagan as the rightful winner of the Kogi Central Senatorial Election. The Appellate Court in a ruling on Tuesday, affirmed the ruling of the Tribunal which declared Akpoti as the winner of the February 2023 election. In declaring Akpoti as the winner, the court dismissed the appeal filed by Abubakar Ohere of the All Progressives Congress (APC) for lacking in merit. Earlier in September, the Kogi State Election Petition Tribunal sitting in Lokoja had nullified the victory of Ohere as the winner of the Kogi Central Senatorial Election. The…

Super Eagles and Napoli star forward Victor Osimhen has been voted as the eighth best player in the world in the 2023 Ballon d’Or ceremony in Paris. The 24-year-old striker was instrumental for the Partenopei as they claimed a first league crown since 1990. He won the league’s Capocannoniere and was named as the Striker of the Year with 26 goals and four assists in 32 league appearances. The Nigerian striker also scored five goals in six UEFA Champions League appearances for Napoli as they reached their farthest in the competition, bowing out to AC Milan in the quarterfinals. Osimhen is the…

President Tinubu, on Monday, said Nigeria’s power sector privatisation had failed to meet its objectives. Tinubu moted that the national grid was serving only about 15 per cent of the country’s electricity demand despite being privatised 10 years ago. Tinubu spoke during the Nigeria Electricity Supply Industry market participants and stakeholders roundtable that focused on privatisation, calling for the recapitalisation of power distribution companies. Represented by the Special Adviser, Energy and Infrastructure, Office of the Vice President, Sodiq Wanka, the President said, “10 years on, I believe it is fair to say that the objectives of sector privatisation have, by…

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has revealed that payment of taxes in dollars to stop before December. “This whole idea of paying levies taxes in foreign currency will stop before the end of this year,” he said. “If you are a Nigerian company or individual who does business in naira, why should we pay taxes in dollars? We shouldn’t be creating demand against our currency.” He said his committee is discussing with state governors and looking at “suspending multiple taxes that frustrate businesses and find money from government agencies where there…

Lionel Messi was named the Ballon d’Or 2023 winner at a ceremony in Paris on Monday, the eighth time he has won the prestigious award. Messi captained Argentina to 2022 World Cup success in Qatar last winter, the first time he won the tournament which ended a 36-year wait for La Albiceleste. The 36-year-old scored twice in a blockbuster final against France in December which finished 3-3 after extra-time, scored in the penalty shoot-out and was named player of the match. Messi fought off competition from Manchester City’s Erling Haaland and former Paris Saint-Germain team-mate Kylian Mbappe, as well as…