Saudi Arabia announced on Monday that the crescent of Shawwal has not been sighted, indicating that fasting will continue on Tuesday. The Eid-El-Fitr is set to be celebrated on Wednesday, April 10, marking the beginning of the new Islamic month. This information was shared on Haramin’s official Facebook page, a platform for the global Muslim community. The announcement stated, “The crescent moon was not sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Wednesday, 10th April 2024.” Meanwhile, Nigerian Muslims are awaiting the announcement from the Sultan of Sokoto and President General of the Supreme Council for…
Author: Editor Francis
The Nigerian government has announced that UAE-based airline Emirates is expected to resume flights to Nigeria in June 2024, nearly two years after suspending operations in the country. In September 2022, Emirates announced the suspension of all its flights to and from Nigeria, citing the inability to repatriate funds from ticket sales in the country. At the time, the airline said it had “tried every avenue to address our ongoing challenges in repatriating funds from Nigeria” and had made “considerable efforts to initiate dialogue with the relevant authorities” to find a solution, but there had been no progress. However, the…
Popular Nigerian comedian Ayodeji Makun, better known as AY, has officially announced the end of his 16-year marriage to his wife, Mabel. This announcement, made on Sunday via AY’s Instagram page, marked the culmination of a 20-year relationship. The comedian cited an inability to continue sharing personal family matters publicly and emphasised the importance of protecting his daughter’s mental health from online exposure. Sources close to the couple revealed that underlying issues had plagued their marriage for years, primarily revolving around a lack of respect and understanding of each other’s roles. While specifics regarding who was at fault remain vague,…
Prominent human rights lawyer Femi Falana, SAN, has strongly criticized the recent hike in electricity tariffs, stating that the federal government is making Nigerians “pay for the inefficiency and incompetence of those managing the electricity sector.” Falana, who was a guest on Channels Television’s Sunday Politics, argued that the government had already removed the electricity subsidy in 2022 and was now merely trying to raise funds for cash-strapped electricity distribution companies (DisCos). “The government needs to apologise to Nigerians for the mismanagement of the electricity sector,” Falana said. He added that the recent tariff increase for Band A consumers, those…
Nigeria is poised to bolster its economic recovery with a significant financial boost as it prepares to receive a $1.05 billion syndicated loan backed by its oil resources. Facilitated by the African Export-Import Bank (Afreximbank), this loan is part of a larger $3.3 billion prepayment facility aimed at stabilising Nigeria’s financial landscape. The agreement, orchestrated by Afreximbank, is structured around repayment terms linked to crude oil shipments from the Nigerian National Petroleum Company Ltd. Denys Denya, Afreximbank’s Senior Executive Vice President for Finance, Administration, and Banking, has confirmed the verification process of crude availability, signalling the imminent release of the…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has made a formal appeal to the Central Bank of Nigeria (CBN) to reconsider and lower its prescribed exchange rate, currently set at N1,251 per US dollar, for its members. Aminu Gwadabe, the National President of ABCON, conveyed this request in a letter addressed to the Director of the CBN’s Trade & Exchange Department. The appeal arises from the observation that the parallel market rate, standing at 1,235 Naira per US dollar, is lower than the official buying rate of 1,251 Naira per US dollar (plus a 1.5 percent margin)…
In a bid to establish a robust feedback mechanism between citizens and the government, the Presidency has introduced the Citizens’ Delivery Tracker (CDT) aimed at tracking progress in eight key priority areas under the administration of Bola Tinubu. The President’s Special Adviser on Policy and Coordination, Hadiza Bala-Usman, made this announcement during the official launch of the CDT held in Abuja on Monday. Bala-Usman emphasised that the platform, currently accessible through a web link (app.cdcu.gov.ng), will soon be available as a downloadable app within the coming months. This unveiling marks the culmination of months of meticulous planning since Tinubu’s declaration…
The Edo State House of Assembly has impeached Deputy Governor Philip Shaibu on Monday. This decision comes in the wake of an investigative panel’s report, chaired by retired Justice S.A. Omonua, appointed by the State Chief Judge to probe allegations of misconduct against Shaibu. The panel, which concluded its proceedings on Friday, had summoned Shaibu to defend allegations including perjury and leaking government secrets. Despite being given multiple opportunities, Shaibu failed to appear before the panel, prompting the Assembly to proceed with the impeachment. Shaibu’s counsel, Oladoyin Awoyale, had sought a suspension of proceedings pending the outcome of a suit…
The Central Bank of Nigeria has once more declared its intention to sell dollars to Bureau De Change operators, as revealed in a circular published on its website on Monday. According to the apex bank, it will distribute $10,000 to each BDC at a rate of N1101/$, with a directive for operators to maintain a spread not exceeding 1.5 percent above the CBN rate when selling.
Controversial crossdresser Bobrisky, also known as Okuneye Idris, faces potential detention over the Eid-il-Fitri break following his arrest on April 3. The Federal High Court in Lagos convicted him on Friday, April 5, 2024, after he pleaded guilty to charges of Naira abuse brought against him by the Economic and Financial Crimes Commission (EFCC). The EFCC presented a six-count charge against Bobrisky, with the first four counts related to naira abuse and the remaining two concerning alleged money laundering. During the court proceedings, the EFCC prosecutor requested the dismissal of counts five and six. Bobrisky admitted guilt to the four-count…
In a bid to bolster the stability of the naira, Nigeria’s foreign exchange reserves have encountered a substantial setback, witnessing a decline of approximately $1.02bn within a mere 18-day period. According to the latest data released by the Central Bank of Nigeria (CBN), the reserves plummeted from $34.45bn on March 18 to $33.50bn by April 3. The previous trajectory of the reserves had been marked by a noteworthy surge over a span of 43 days, commencing from February 5 and culminating on March 18, 2024, during which the reserves appreciated by $1.28bn. This surge was attributed to heightened remittance payments…
Former Central Bank of Nigeria Governor, Godwin Emefiele, has appeared at the Ikeja State High Court in Lagos today for his arraignment on charges related to alleged abuse of office and misallocation of billions of dollars. Accompanied by his co-defendant, Henry Isioma Omole, Emefiele faces 26 fresh counts before Justice Rahman Oshodi. These charges, outlined in the document marked ID/23787c/2024 and dated April 3, 2024, span the period between 2022 and 2023 in Lagos. The Economic and Financial Crimes Commission (EFCC) has accused Emefiele of abusing his authority by directing the allocation of foreign exchange totaling $2,136,391,737.33 without following proper…