Author: Akintayo Adams

The naira has been on a rapid depreciation trajectory, edging closer to ₦2000 per dollar after three consecutive days of decline in the foreign exchange market. Data from FMDQ showed that on Thursday, the naira weakened further to ₦1639.41 per dollar, down from ₦1625.88 the previous day, marking a ₦13.53 drop. In the black market, the naira also depreciated, falling by ₦25 to ₦1660 per dollar on Thursday, compared to ₦1640 on Wednesday. The current black market rate is ₦340 short of the ₦2000 per dollar mark. This recent decline follows a pattern of depreciation observed since Tuesday, with the…

The Kaduna State chapter of the Labour Party has rejected the appointment of former Finance Minister, Senator Nenadi Usman, as the party’s National Caretaker Chairman. Usman’s leadership was established following a stakeholders’ meeting in Umuahia, Abia State, a few days ago. However, the Kaduna State Labour Party Chairman, Auwal Tafoki, dismissed Usman’s emergence as illegal and unconstitutional, aligning with the views of the party’s National Working Committee led by Barrister Julius Abure. Tafoki argued that the appointment, which came from a meeting convened by Abia State Governor Alex Otti, lacks legitimacy and is merely a waste of time and resources.…

Germany is exploring a migration policy that would involve deporting illegal migrants to Rwanda, drawing on a similar scheme that was recently abandoned by the UK. Joachim Stamp, Germany’s migration commissioner, revealed on Thursday that this plan would target migrants entering through the European Union’s eastern borders. While Germany has welcomed millions of refugees over the past decade, there is growing pressure on the ruling coalition government to address irregular migration, particularly after a deadly stabbing at a festival in Solingen, allegedly carried out by an Islamic State group member. The incident has fueled far-right criticism of Germany’s migration policies.…

The Federal Government of Nigeria has commenced the sale of 30,000 metric tonnes of subsidized milled rice to Nigerians, with each 50kg bag priced at ₦40,000. To benefit from this initiative, buyers must present their National Identification Numbers (NIN), and the rice will be sold on a “one person, one bag” basis to ensure fair distribution. The flag-off ceremony for this rice intervention was presided over by President Bola Tinubu, represented by the Minister of Agriculture and Food Security, Abubakar Kyari, on September 5, 2024. This initiative aims to alleviate the ongoing food crisis in Nigeria by making essential food…

The Economic and Financial Crimes Commission (EFCC) on Friday handed over $180,300 and 53 fraudulently obtained vehicles to the Royal Canadian Mounted Police (RCMP) on behalf of Canadian citizens defrauded by Nigerian cybercriminals. During the signing ceremony, EFCC Chairman Ola Olukoyede emphasized the commission’s commitment to fighting financial crimes and the importance of international collaboration in addressing these issues. He noted that financial crimes have become global, with criminals operating across borders, making cooperation between countries essential. Olukoyede explained that the recovery efforts, which spanned several years, resulted in substantial assets being returned to the victims. He also reiterated that…

Millions of Brazilians, including President Luiz Inácio Lula da Silva, have flocked to alternative social media platforms such as Threads and Bluesky after X (formerly known as Twitter) was blocked in Brazil. Portuguese has quickly become the most spoken language on these platforms since Elon Musk’s X was shut down on August 31, 2024. The shutdown followed a legal standoff between Musk and Brazilian Supreme Court judge Alexandre de Moraes, who has been actively combatting disinformation in the country. The platform’s suspension came after Musk ignored several court rulings. Since the block, Bluesky, created by Twitter co-founder Jack Dorsey, has…

Minister of State for Petroleum Resources, Heineken Lokpobiri, reassured Nigerians on Thursday that despite the ongoing scarcity and price hike of petrol, there is an adequate supply of the product in the country. Speaking after a meeting with Vice President Kashim Shettima at the Presidential Villa in Abuja, Lokpobiri assured that the scarcity would ease before the weekend, with petrol being available across the nation. He emphasized that once there is adequate availability, the price would stabilize, though he acknowledged that prices could vary in different locations. Lokpobiri reiterated that the sector is deregulated, meaning the government is not involved…

Former Liverpool manager Jurgen Klopp has expressed criticism towards Manchester United’s head coach Erik ten Hag regarding his treatment of Jadon Sancho. Sancho, who joined Chelsea on a season-long loan this summer, with an obligation for the Blues to purchase him next year, previously fell out with Ten Hag after a loan spell at Borussia Dortmund last season. Despite being reintegrated into United’s first-team squad this summer, Sancho’s deadline day move to Chelsea appears to have marked the end of his time at Old Trafford. Klopp, voicing his thoughts on the matter, believes Ten Hag should have offered more support…

The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it will begin lifting Premium Motor Spirit (PMS) from the Dangote Refinery on September 15, 2024. This announcement was made by NNPCL spokesperson Olufemi Soneye, following comments from the company’s Executive Vice President of Downstream, Adedapo Segun, during an appearance on TVC News’ “Journalists’ Hangout” show. Segun emphasized that the company is waiting for the September 15 timeline provided by the Lagos-based refinery, which has a production capacity of 650,000 barrels per day. His remarks come amid ongoing fuel scarcity across Nigeria, despite a recent hike in fuel prices. NNPCL…

Football Megastar, Cristiano Ronaldo has scored the 900th goal of his illustrious career. The multiple Ballon d’Or winner reached the milestone when he netted in the 33rd minute of the ongoing UEFA Nations League match between Portugal and Croatia. The goal was also his 131st in a Portuguese National Team shirt, extending his lead as the highest men’s international scorer in history. Ronaldo’s 900 goals have been scored across spells in Sporting CP, Manchester United, Real Madrid, Manchester United and Al Nassr where he currently plies his trade. Half of his goals were scored in the colors of Real Madrid…