Author: Festus Adeloye

The Central Bank of Nigeria (CBN) has sold $876.26m to end users whose bids were submitted by some 26 banks. A circular released by the apex bank on Wednesday said the move is to boost the falling naira. The development comes as the naira comes under pressure through seasonal demand from summer tourism and businesses seeking the greenback to bring in goods to the import-dependent nation. According to the circular, total bids came to US$1.18bn which was received from 32 authorised dealer banks. Of this, bids valued at US$876.26 million from 26 banks qualified, while bids valued at US$313.69 million…

In a display of culinary skills, Big Brother Naija ‘No Loose Guard’ housemates Team Mayonnaise consisting of Mbadiwe Twins, Chekas, and Beta emerged as winners of the food presentation task. The challenge, announced by Big Brother, required contestants to showcase their cooking and presentation abilities. Ocee, a 37-year-old lawyer, entertainer, and entrepreneur from Imo state, wowed the audience with his mouth-watering presentation, securing the win for his team.

The Department of State Services is investigating the alleged involvement of seven Polish nationals in the nationwide protests against hunger and hardship in Kano State. The detainees, who were arrested on Tuesday in Kano, are being investigated. The nationwide protest, which commenced on Thursday, August 1, was in response to the hardship being experienced by citizens in the country. The spokesperson for the DSS, Peter Afunanya, confirmed the arrests on Wednesday while explaining that the action was part of routine security enforcement rather than a targeted effort against Polish citizens. Afunanya stated this while responding to questions during a briefing…

Bauchi State Governor, Bala Mohammed, has faulted President Bola Tinubu’s nationwide address to Nigerians in the wake of the #EndBadGovernance protest. In his speech on Sunday, Tinubu called on protesters to cease their demonstrations and open room for dialogue saying there was no going back on the removal of fuel subsidy. But speaking on Wednesday during the flag-off of the Peoples Democratic Party (PDP) campaign for the local government election in Bauchi, Mohammed said the Federal Government should stop giving excuses to Nigerians. “I listened to Mr President’s speech with rapt attention and with all humility and courage that what…

Internationally acclaimed South African actress, Connie Chiume has died at the age of 72. Connie Chiume, who was best known for her roles in Black Panther and Wakanda Forever died on Tuesday, at Garden City Hospital. Announcing her passage in a public statement on Tuesday, her family said, “The Chiume Family regrets to inform you of the passing of internationally acclaimed award winning actress Connie Chiume. “Connie, 72, died today on August 6, 2024, at Garden City Hospital. The family will communicate further details and ask for privacy during this difficult period.” The late actress gained fame through her many…

The Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has said the oil firm has nothing to do with the sub-standard Importation of products into the country. He asserted in his remarks on Wednesday while appearing before a Senate ad-hoc committee over an alleged economic sabotage in the Nigeria Petroleum industry. The committee is being led by the Chairman and leader of the Senate, Senator Opeyemi Bamidele. Kyari also averred that he as the CEO, as well as the NNPCL had faced undue media attacks from persons doing everything to create the impression that NNPCL…

The Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, has called on Nigerians to develop survival strategies in response to the economic challenges following the removal of the petrol subsidy by President Bola Tinubu’s administration. Issa-Onilu, a former spokesperson for the ruling All Progressives Congress (APC), argued that reinstating the petrol subsidy, as demanded by #EndBadGovernance protesters, would only worsen poverty. “Anybody who is making a demand that subsidy removal should be brought back is making an emotional demand, not an economic demand because you have to also prove that if it is brought back, it will solve the…

Two Kano House of Representatives members, former House leader, Rep. Alhassan Ado Doguwa (APC,Kano) and Rep. Abdulmumini Jibrin (NNPP,Kano) have dared each other as their spat over the former Kano State Governor, Senator Rabiu Musa Kwankwaso, has deepened. Jibrin had warned Doguwa to desist from making disparaging remarks against the national leader and founder of the Kwankwasiyya political movement. However, in a statement on Sunday, Doguwa asked Jibrin to steer clear of the matter because he was not his political mate as he was a student when he was elected as a member of the National Assembly, the same time…

The Presidency has tackled former Vice President Atiku Abubakar over his comments on the aftermath of the #EndBadGovernance protests against hunger and economic challenges. In a statement late Tuesday, presidential spokesman Bayo Onanuga asked Atiku to act like opposition figures in the United Kingdom “who have rallied behind the government to condemn the ongoing riots in the UK”. Onanuga blamed Atiku for not condemning the looting and destruction that trailed the nationwide protests in Nigeria in the last week. Atiku was the presidential candidate of the opposition Peoples Democratic Party (PDP) in the 2023 election won by Bola Tinubu of…

The Dangote Refinery is planning to sell a 12.7 per cent stake in 2024 for loan servicing, Fitch Ratings, a credit rating agency says in a report released on Monday. Fitch recalled that the Nigerian National Petroleum Company Limited had earlier planned to acquire a 20 per cent stake in the refinery. However, the rating agency indicated that the decision of the national oil firm not to exercise its option of acquiring an additional 12.75 per cent as of June 2024 may impact the group’s ability to service loans. In 2021, the NNPC acquired a 7.25 per cent stake in…