Author: TheScrutinyNG

The Federal Government has disbursed a total sum of N20.11bn to 402,283 beneficiaries of the N50,000 Presidential Conditional Grant Scheme. The beneficiaries selected from the 774 local government areas received a direct payment to their bank accounts via their Bank Verification Number. This information was disclosed in a document exclusively obtained from the Ministry of Industry, Trade and Investment by our correspondent on Wednesday. The scheme domiciled under the Ministry of Trade and Investment commenced on March 9, 2024, with financial grants of N50,000 without repayment obligations to eligible small business owners operating in various sectors such as trading, food…

The Naira yesterday appreciated in the parallel market to N1,375 per dollar from N1,500 per dollar on Tuesday. But the Naira was depreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,329.65 per dollar from N1,173.88 per dollar on Tuesday, indicating N155.77 depreciation for the naira. Consequently, the margin between the parallel market and NAFEM rates narrowed to N45.35 per dollar from N326.12 per dollar on Tuesday.

Minister of Works, Sen. David Umahi, has denied snubbing newsmen who honoured his ministry’s invitation for a news conference in Abuja. Recall that the minister allegedly walked out on the newsmen during his turn to present this ministry’s score card after one year of President Bola Tinubu Presidency. However, Umahi, while speaking with newsmen in Abakaliki after participating in activities marking Gov. Francis Nwifuru’s one year in office described the allegation as untrue. The minister said he only wanted to appreciate selected media houses for their commendable coverage of his ministry’s activities. “They all worked hard for us during President Bola…

In compliance with the sit-at-home order issued by the Indigenous People of Biafra (IPOB), residents of Owerri, the Imo State capital, stayed indoors on Thursday. Despite police assurances of safety, shops, markets, and both public and private offices were closed, halting economic activities. The usually busy streets and major roads were empty, with only a few people seen at bus stops. Our correspondent, who toured the metropolis, noted that the city was largely deserted as many residents chose to stay home rather than risk going out. However, there was a notable exception as a few students taking the West African…

Lagos State Governor Babajide Sanwo-Olu yesterday inaugurated 15 new ferries to boost water transportation in the state and to mark his fifth year in office. Sanwo-Olu, who launched the boats at the Badore Jetty in Ajah, described the ferries as ‘another demonstration of government’s commitment to transportation and traffic management, which is the first pillar of its THEMES + Agenda, and which is aimed at deepening intermodal transportation and boosting the economy. The 40-seater-boats, called Omibus, are products of the partnership between the state government, the Lagos State Waterways Authority (LASWA), and Caverton Marine, a subsidiary of Caverton Aviation. They…

Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, May 29, 2024, convicted and sentenced one Adeyinka Bilikis Gbadamosi to six months imprisonment for currency racketeering. Gbadamosi was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on currency Racketeering. The count reads: “That you, Adeyinka Bilikis Gbadamosi, on the 27th of April, 2024 in Lagos, within the jurisdiction of this Honorable Court, engaged in hawking the total sum of N897,900 (Eight Hundred and Ninety Seven Thousand, Nine Hundred Naira) in N200 Naira note denomination,…

Tyson Fury’s rematch against Oleksandr Usyk has been scheduled for December 21 in Saudi Arabia. This highly anticipated bout follows Fury’s first professional defeat earlier this month, when Usyk won via split decision in Riyadh to become the undisputed heavyweight champion. With his victory, Usyk now holds the IBF, WBO, WBA, and WBC titles, making him the first unified heavyweight champion since Lennox Lewis in 1999. Despite the loss, Fury felt he had done enough to win the fight. However, two out of the three judges favored Usyk, particularly after he landed a powerful overhand left in the ninth round,…

By Ebun-Olu Adegboruwa, SAN After taking over power through brute force, General Ibrahim Babangida sought to partner with the International Monetary Fund, IMF, and to birth a generational project of financial captivity for Nigeria under the Brent Wood institution. Nigerians were opposed to the financial package from the IMF and students took up that challenge. I had just been elected as the Public Relations Officer of the Students’ Union of Obafemi Awolowo University and Great Ife being the headquarters of the students’ movement in Nigeria, we declared total support for the campaign to reject the IMF loan. This would lead…

The Saudi Arabian Foreign Ministry has condemned Israel’s deadly airstrikes on the southern Gaza city of Rafah. The kingdom denounced “the continuous genocidal massacres committed by the Israeli occupation forces against the Palestinian people without deterrence by continuing to target the tents of defenceless Palestinian refugees in Rafah.’’ Riyadh held Israel fully responsible “for what is happening in Rafah and across the occupied Palestinian territories.’’ It added that Israel’s violations of international and humanitarian resolutions “exacerbate the magnitude of the unprecedented humanitarian catastrophe experienced by the Palestinian people.’’ Palestinian medics on Tuesday said dozens of people have died in fresh…

The Federal Government informed a Federal High Court in Abuja on Wednesday that it no longer wished to pursue the alleged terrorism charge against the President of Miyetti Allah Kautal Kore, Alhaji Bello Bodejo. Prosecuting lawyer Mrs. Aderonke Imana made this disclosure during the resumed hearing on Wednesday. In an oral application, Mrs. Imana stated that she was applying pursuant to Section 108 of the Administration of Criminal Justice Act (ACJA) 2015. She further explained that the request was based on the authority of the Attorney General of the Federation (AGF) under Section 174 of the Constitution. Mrs. Imana said,…