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Tinubu Appoints 555 to Tertiary Institution Governing Councils, Averts ASUU Strike ThreatIn a decisive move to bolster t...
18/05/2024

Tinubu Appoints 555 to Tertiary Institution Governing Councils, Averts ASUU Strike Threat

In a decisive move to bolster the administration of tertiary institutions in Nigeria, President Tinubu has approved the appointment of 555 individuals to serve as Chairman and members of governing councils. This strategic directive aims to strengthen governance and leadership within the higher education sector, emphasizing the commitment to academic excellence and institutional development.

Furthermore, in a bid to ensure a seamless transition and facilitate a shared vision for progress, the Inauguration/Retreat for the Chairmen and Members of the Governing Councils of Tertiary Institutions is scheduled to take place on Thursday, May 30th and Friday, May 31st, 2024. This momentous event is anticipated to provide a platform for the newly appointed leaders to align their strategies and set a cohesive agenda for the advancement of Nigeria's tertiary education landscape.

In a parallel development, the looming threat of a strike by the Academic Staff Union of Universities (ASUU) has been effectively mitigated through successful negotiations, thereby averting potential disruptions to the academic calendar and ensuring continuity in the delivery of quality education. This concerted effort underscores the government's dedication to sustaining a conducive environment for learning and research while fostering harmonious relations with academic stakeholders.

Transformative Renewed Hope Agenda: Nigeria's Global Ascent Under President Tinubu's LeadershipThe Vice President of Nig...
18/05/2024

Transformative Renewed Hope Agenda: Nigeria's Global Ascent Under President Tinubu's Leadership

The Vice President of Nigeria, Kashim Shettima, has emphasized the profound impact of the Renewed Hope Agenda under President Bola Ahmed Tinubu's administration, positioning Nigeria as a premier global investment hub.

In a High-level Dialogue on Delivering the Renewed Hope Agenda, VP Shettima emphasized the administration's roadmap, highlighting its commitment to bold reforms and strategic partnerships to revitalize the nation's economy and enhance security.

Central to the administration's foreign policy approach is the 'Tinubu Doctrine,' incorporating a '4-D Diplomacy Strategy' focused on promoting democracy, driving economic development, harnessing Nigeria's demographic potential, and engaging with the diaspora community.

The administration's recognition of the vital role of Nigerians in the diaspora is underscored by the recently announced $10 billion Diaspora Fund, aimed at strengthening ties with the diaspora community and boosting forex inflows to support national development plans.

In the same vein The United Nations has acknowledged Nigeria's remarkable progress under the Tinubu administration, citing reforms to stabilize the economy and address security challenges. UN Deputy Secretary-General, Hajiya Amina Mohammed, commended Nigeria's proactive measures in addressing security challenges and notable initiatives such as the nationwide digital literacy program and the expansion of broadband infrastructure.

With a focus on security, economic revitalization, and global partnerships, VP Shettima extended an invitation to international partners, emphasizing the need for collaboration.

Shettima Inaugurates NEC's Human Capital Committee, Pledges Commitment to National DevelopmentIn a resounding show of co...
17/05/2024

Shettima Inaugurates NEC's Human Capital Committee, Pledges Commitment to National Development

In a resounding show of commitment to the advancement of Nigeria's human capital, Vice President Kashim Shettima on Friday inaugurated the revamped National Economic Council (NEC) Human Capital Development (HCD) Steering Committee.

The Vice President emphasized the federal government's renewed focus on bolstering labor force participation and issued a fervent call to action during his address at the inauguration ceremony.

With a speech titled "The Burden of Trust in Leadership Transition," Vice President Shettima underscored the committee's solemn responsibility of driving tangible progress in the key areas of health and nutrition, education, and labor force participation. He passionately articulated his vision for a future where every Nigerian has the opportunity to fulfill their dreams and contribute to the nation's prosperity.

Aligning the objectives of the HCD program with President Bola Tinubu's eight-point agenda, including poverty eradication and job creation, the Vice President stressed the imperative of investing in healthcare systems and ensuring access to quality education for every Nigerian child. His remarks reflected a deep understanding of the pivotal role that human capital development plays in driving economic growth and societal progress.

The inauguration ceremony was also graced by Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, who lauded the resuscitation of the committee and affirmed the National Assembly's commitment to legislative collaboration. Additionally, Kwara State Governor and Chairman of the Nigeria Governors' Forum (NGF), AbdulRahman AbdulRazaq, emphasized the governors' dedication to human capital development, further underlining the broad support for this critical national initiative.

The inauguration of the NEC's Human Capital Committee marks a significant milestone in Nigeria's quest for holistic development, underlining the government's unwavering commitment to empowering its citizens and driving sustainable progress.

Ooni of Ife Commends EFCC Chairman's Commitment to Anti-Corruption EffortsThe Ooni of Ife, Oba Adeyeye Enitan Ogunwusi (...
17/05/2024

Ooni of Ife Commends EFCC Chairman's Commitment to Anti-Corruption Efforts

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi (Ojaja II), has lauded the unwavering dedication of Mr. Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), in the ongoing battle against economic and financial crimes and corruption in Nigeria. The monarch expressed his appreciation during a courtesy visit by the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, Assistant Commander of the EFCC, ACE I Hauwa Garba Ringim, in Ile-Ife, Osun State.

In his address, Oba Ogunwusi commended Olukoyede's leadership and emphasized his belief that under the Chairman's guidance, the EFCC is poised to achieve significant success in combating corruption. He also praised the agency's staff for their professionalism and the internal restructuring that has enhanced their effectiveness in fulfilling the Commission's mandate.

The Ooni of Ife underscored the importance of collective support for the EFCC, emphasizing that the fight against corruption requires the active participation of all Nigerians. He called for a unified effort to combat the pervasive issue of corruption, asserting that the EFCC cannot tackle this challenge single-handedly.

The monarch expressed concern about the prevalence of illegal mining activities in Osun State and pledged the support of his office in addressing this issue. His commitment to partnering with the EFCC to address illegal mining underscores his dedication to promoting economic and social well-being in the region.

In response, Hauwa Garba Ringim, the Acting Zonal Director, expressed her gratitude for the Ooni's endorsement and hospitality, highlighting the monarch's consistent support for the EFCC's mission. She assured the Ooni of Ife that, under Olukoyede's leadership, the EFCC remains resolute in its efforts to combat corruption, illegal mining, and cybercrime in Osun State and across Nigeria.

The Ooni of Ife's commendation serves as a significant endorsement of the EFCC's anti-corruption initiatives and underscores the crucial role of collaboration between traditional institutions and law enforcement agencies in addressing societal challenges.

NNPC Ltd. Clarifies Lagos Depot Fire Incident, Assures Uninterrupted Petroleum Products SupplyThe Nigerian National Petr...
17/05/2024

NNPC Ltd. Clarifies Lagos Depot Fire Incident, Assures Uninterrupted Petroleum Products Supply

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has moved swiftly to dispel misconceptions surrounding the recent fire incident at a tank farm in Marine Beach, Apapa, Lagos. Contrary to initial reports, the fire occurred at a Depot belonging to HOGL Energy Ltd. (Honeywell Depot) and not at an NNPC Retail Ltd. facility.

The fire, which has been successfully extinguished, was attributed to petroleum products spillage within the tank farm's perimeter. In response to this incident, NNPC Ltd. and other Depots in the vicinity have resumed loading activities, signifying a return to normalcy in the area.

In an official statement, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., emphasized that the incident will have no bearing on the supply and distribution of petroleum products across the country. This reassurance comes as a relief to consumers and businesses alike, assuring them of an uninterrupted flow of essential fuels.

The prompt and transparent response from NNPC Ltd. underscores its commitment to operational integrity and public accountability. With the situation under control and operations back on track, the company's proactive approach has helped alleviate concerns and maintain confidence in the nation's petroleum products supply chain.

Wike's Wife,  CJN's Daughter-in-Law Nominated for Key Court PositionsThe Nigerian Judicial Council (NJC) has ignited a f...
17/05/2024

Wike's Wife, CJN's Daughter-in-Law Nominated for Key Court Positions

The Nigerian Judicial Council (NJC) has ignited a firestorm of controversy with its recent nominations for key judicial positions, setting the stage for a potential clash between the judiciary and the executive branch.

The NJC has recommended Mrs. Justice Nyesom-Wike Suzzette, wife of Federal Capital Territory's Minister, Nyesom Wike, for elevation to the prestigious Court of Appeal.

This move has raised eyebrows due to Mrs. Suzzette's familial ties to a prominent political figure, leading to concerns about potential conflicts of interest.

In a separate but equally contentious development, Ariwoola Oluwakemi Victoria, daughter-in-law of Nigeria's Chief Justice Olukayode Ariwoola, has been selected as one of the 12 judges proposed for promotion to the Federal High Court in Abuja.

This nomination has drawn scrutiny over the perceived nepotism and favoritism in the selection process, as critics question whether Victoria's familial connections played a role in her nomination.

Mrs. Suzzette, a former First Lady of Rivers State, currently serves as a judge at the Rivers State High Court. Meanwhile, Victoria's nomination has sparked a heated debate about the transparency and integrity of the judicial selection process, with calls for an independent review of the nominations to ensure fairness and impartiality.

NFF President Unveils Contract Details for New Super Eagles Head Coach Finidi GeorgeThe President of the Nigeria Footbal...
17/05/2024

NFF President Unveils Contract Details for New Super Eagles Head Coach Finidi George

The President of the Nigeria Football Federation, Ibrahim Gusau, has announced the terms of a minimum two-year contract for newly appointed Super Eagles head coach, Finidi George.

The contract outlines ambitious targets, including qualification for AFCON 2025, with a minimum requirement of reaching the semifinals, as well as securing a spot in the 2026 FIFA World Cup, with the expectation of at least a quarterfinal finish.

This bold move by the NFF signals a strong commitment to the future success of the national team and sets high expectations for George as he takes on this pivotal role.

Kano State House of Assembly Passes Bill Mandating Health Screenings for Intending Couples In a move aimed at curbing th...
17/05/2024

Kano State House of Assembly Passes Bill Mandating Health Screenings for Intending Couples

In a move aimed at curbing the spread of infectious diseases, the Kano State House of Assembly has approved a bill that requires couples to undergo mandatory health screenings for HIV, hepatitis, and sickle cell anaemia before getting married.

This pioneering legislative action comes in response to the state's pressing health challenges, particularly the widespread prevalence of HIV due to the absence of pre-marital medical screenings.

The passage of this bill has been hailed as a significant triumph for public health in Kano State, with the Society for Family Health (SFH) extending its congratulations to the government and people of the state for this landmark achievement.

SFH, an organization dedicated to improving healthcare in Nigeria, commended its policy experts for their close collaboration with the state to ensure the bill's comprehensiveness and alignment with international best practices.

This development is a testament to Kano State's unwavering commitment to prioritizing public health and underscores the potential for positive, far-reaching impacts.

It is anticipated that this progressive legislation will set a precedent for other states across Nigeria to follow suit, fostering a greater understanding of the health implications and societal benefits of pre-marital health screenings.

The passage of this bill marks a significant milestone in public health policy and signifies a crucial step forward in the ongoing battle against infectious diseases in Kano State and beyond.

African First Ladies Unite to Combat Cancer Across the Continent First Ladies from various African countries have come t...
17/05/2024

African First Ladies Unite to Combat Cancer Across the Continent

First Ladies from various African countries have come together to spearhead a collaborative effort to combat the growing cancer epidemic in Africa. Hosted by the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu, the 3rd Regional Seminar on Cancer Awareness saw an impressive display of solidarity and commitment from influential leaders.

Addressing the seminar, Senator Oluremi Tinubu emphasized the urgent need to promote early detection and treatment to reverse the grim statistics of cancer prevalence. With a specific focus on breast and cervical cancer among women, the seminar aimed to share knowledge and mobilize resources to tackle the disease head-on.

The First Ladies did not just stop at discussions but went on to sign the Abuja Declaration, which included crucial resolutions such as improved funding, heightened advocacy, and enhanced collaboration between member states. This collective effort signifies a significant step forward in the fight against cancer on the African continent.

The impactful event also saw the Speaker of the House of Representatives, Tajudeen Abbas, emphasizing the necessity of enacting a National Cancer Act, further highlighting the gravity of the situation.

With the backing of influential figures such as the First Lady of Turkey, Emine Erdogan, who stressed the importance of promoting good dietary systems and leveraging medicinal resources, the African First Ladies have set a powerful precedent for collaborative action and advocacy in the fight against cancer.

This groundbreaking initiative is poised to bring about positive change and a renewed sense of hope for millions affected by cancer across Africa.

"Final Farewell: Actor Junior Pope Laid to Rest in Enugu State After Tragic Accident Claims His Life"The town of Uwala A...
17/05/2024

"Final Farewell: Actor Junior Pope Laid to Rest in Enugu State After Tragic Accident Claims His Life"

The town of Uwala Abaka, Ukehe, Igboetiti Local Government Area of Enugu State was shrouded in profound sorrow as the beloved actor John Odonwodo, known to many as Junior Pope, was laid to rest. The burial rites commenced with a poignant commendation mass at St. Peter’s Catholic Parish, Ukehe, followed by a solemn lying-in-state at his father’s compound. Family members, friends, and colleagues gathered to bid their final farewells before the late actor was interred at a private venue.

The atmosphere at the burial ceremony was heavy with grief as mourners, including colleagues and fans, paid their respects to the departed actor. Amidst the crowd, the late actor's wife, Jennifer Awele, was visibly overcome with emotion, shedding tears as she grappled with the loss.

The 43-year-old actor tragically lost his life on April 10, when the boat he was on capsized in the Anam River, Anambra State, claiming five lives. The veteran actress Rita Edochie, speaking at the burial, expressed her deep sadness at the untimely passing of Junior Pope, reflecting the profound impact he had on the entertainment industry.

The legacy of Junior Pope, known for his remarkable talent and infectious charisma, will undoubtedly endure, leaving an indelible mark on the hearts of those who knew and admired him.

Tinubu Calls for United Effort in Combating Regional ChallengesIn a significant diplomatic meeting at the State House, P...
17/05/2024

Tinubu Calls for United Effort in Combating Regional Challenges

In a significant diplomatic meeting at the State House, President Bola Tinubu of Nigeria welcomed President Bassirou Diomaye Faye of Senegal, emphasizing the crucial need for a unified approach to address the pressing challenges facing West Africa. President Tinubu stressed the importance of aligning purpose and structure within the region to effectively combat issues such as terrorism, banditry, human trafficking, and poverty.

During the meeting, President Tinubu underscored the significance of prioritizing the people in governance, asserting that the essence of democracy is lost when the welfare of the citizens is not the focal point. He also reaffirmed the sanctity of democratic governance, values, and constitutional order, emphasizing the need to uphold critical institutions and precepts such as the judiciary and the rule of law for the sustenance of democracy.

Describing Nigeria and Senegal as brotherly nations with a shared interest in democracy, President Tinubu expressed admiration for President Faye's commitment to democratic values and urged for collaborative efforts to strengthen democratic governance, promote economic growth, and address various spheres of governance.

President Faye, in turn, acknowledged the enduring bond between Nigeria and Senegal, highlighting the shared values, ideals, and challenges that have characterized their relationship since the 1960s. He also called for the revitalization of the Nigeria-Senegal joint commission to bolster bilateral relations in areas such as diplomacy and trade.

President Faye emphasized on President Tinubu's wisdom and experience, expressing confidence that under his leadership as the Chairman of ECOWAS, relations among member states can be strengthened for the advancement of the community.

The meeting between the two leaders signifies a pivotal moment in regional diplomacy, underscoring the imperative for collaborative efforts to address the multifaceted challenges confronting West Africa.

FAAC Distributes N1.2 Trillion Revenue to FG, States, and LGs in April 2024The Federation Account Allocation Committee (...
16/05/2024

FAAC Distributes N1.2 Trillion Revenue to FG, States, and LGs in April 2024

The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.2 trillion in revenue to the Federal Government, states, and local governments for the month of April 2024.

This allocation, disclosed during the FAAC meeting held in May 2024, comprised of N284.716 billion in distributable statutory revenue, N466.457 billion in distributable Value Added Tax (VAT) revenue, N18.024 billion in electronic money transfer levy revenue, and N438.884 billion in exchange difference revenue.

Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant General of the Federation, revealed these figures in a statement released following the April 2024 FAAC meeting.

This substantial allocation underscores the continued commitment to the equitable distribution of revenue among the tiers of government.

Moreover, the report also highlighted that the Excess Crude Account (ECA) held a total amount of $473,754.57 in the previous month.

FAAN Introduces E-Tags Payment for Air Travelers NationwideIn a groundbreaking move, the Federal Airport Authority of Ni...
16/05/2024

FAAN Introduces E-Tags Payment for Air Travelers Nationwide

In a groundbreaking move, the Federal Airport Authority of Nigeria (FAAN) has announced the introduction of E-Tags payment for all travellers at the 24 Federal Airports across the country, effective May 17, 2024.

This development comes in response to the Presidential Directive mandating all citizens to obtain E-Tags at the designated airports.

The E-Tags, aimed at streamlining the travel process, can be purchased by travellers starting today, revolutionizing the way passengers engage with airport services.

This innovative approach is set to enhance convenience and efficiency for air travellers nationwide, marking a significant milestone in the aviation industry.

With this proactive initiative, FAAN is poised to elevate the air travel experience, ensuring seamless transactions and improved customer service.

The introduction of E-Tags is anticipated to bring about a positive shift in airport operations, setting a new standard for travel convenience in Nigeria.

Federal Government Announces Disbursement of Billions to Settle Gas Supply DebtsDuring the 2024 Eighth Africa Energy Mar...
16/05/2024

Federal Government Announces Disbursement of Billions to Settle Gas Supply Debts

During the 2024 Eighth Africa Energy Marketplace held in Abuja, the Minister of Power, Adebayo Adelabu, revealed the Federal Government's plans to promptly disburse a staggering sum of funds to settle outstanding gas supply debts within the Nigerian Electricity Supply Industry (NESI).

The announcement detailed the initiation of the disbursement of a substantial amount, estimated to be in the billions, to alleviate the financial burdens stemming from gas supply debts.

The Minister of Power disclosed that the government has approved a cash payment of about N130 billion from the gas stabilization fund, which will be facilitated by the Federal Ministry of Finance. Additionally, he emphasized that the settlement of the legacy debt will be financed through future royalties and exchange of incomes in the gas sub-sector.

This innovative approach has been well received by gas supply companies and is expected to incentivized them to engage in firm supply contracts with power generating companies, ensuring a consistent and reliable power generation process.

The magnitude of the disbursement, estimated at 1.3 billion dollars, represents a significant step towards bolstering the energy sector and fostering a more stable supply chain.

Adelabu expressed confidence that this substantial payment will encourage gas companies to enter into contractual obligations, thereby guaranteeing an uninterrupted supply of gas to power generating companies. This proactive approach is poised to fortify the NESI and lay the foundation for sustained and robust power generation across the nation.

Emirates Announces Resumption of Daily Flights to Nigeria, Connecting Lagos, DubaiIn a major development for air travele...
16/05/2024

Emirates Announces Resumption of Daily Flights to Nigeria, Connecting Lagos, Dubai

In a major development for air travelers, Emirates has declared its plans to recommence daily flights to Nigeria, starting on 1st October 2024.

The resumption of this service will offer enhanced options and seamless connectivity from Nigeria's vibrant city of Lagos to the bustling metropolis of Dubai and beyond.

The airline's Flight EK701 is scheduled to depart from Dubai at 0945hrs, arriving in Lagos at 1520hrs.

The return journey, Flight EK702, will take off from Lagos at 1730hrs, reaching Dubai at 0510hrs the following day. Passengers are encouraged to secure their tickets in advance through the official Emirates website or via authorized travel agents.

Expressing his enthusiasm about the reinstatement of services to Nigeria, Adnan Kazim, Deputy President and Chief Commercial Officer at Emirates, stated, "We are excited to resume our services to Nigeria.

The Lagos-Dubai route has historically been a popular choice for customers in Nigeria, and we aim to reconnect leisure and business travelers to Dubai and our network of over 140 destinations.

We extend our gratitude to the Nigerian government for their partnership and support in re-establishing this route, and we eagerly anticipate welcoming passengers back onboard."

This announcement has been met with widespread acclaim, with accolades extended to all those who played a pivotal role in this achievement, from the President to the National Security Adviser and Minister of Aviation.

The resumption of these flights is set to have a positive impact on travel and trade between Nigeria and the United Arab Emirates, offering a crucial link for individuals and businesses across the two nations.

Nigerian Education Loan Fund Sets Commencement Date for Student Loan ApplicationsIn a major development for Nigerian stu...
16/05/2024

Nigerian Education Loan Fund Sets Commencement Date for Student Loan Applications

In a major development for Nigerian students, the Nigerian Education Loan Fund (NELF) has officially announced the commencement date for student loan applications.

The Fund has designated May 24, 2024, as the date when eligible students can begin applying for educational loans through an online portal.

This announcement was made in a statement released by Nasir Ayantogo, the media lead for NELF, on Thursday evening. Ayantogo encouraged all eligible students to seize this opportunity to invest in their future and contribute to the growth and development of the nation.

Students can access the portal on nelf.gov.ng to initiate the application process.

This move is expected to provide much-needed financial assistance to students pursuing higher education in Nigeria.

Minister of Power Defends Electricity Tariff Hike, Claims Reduction in Energy Expenses for Band A ConsumersMinister of P...
16/05/2024

Minister of Power Defends Electricity Tariff Hike, Claims Reduction in Energy Expenses for Band A Consumers

Minister of Power, Adebayo Adelabu, addressed attendees at the 8th Africa Energy Marketplace forum in Abuja on Thursday, where he defended the recent electricity tariff hike for Band A consumers. Adelabu pointed out that the outcry over the tariff increase is mainly coming from individuals who were previously not fulfilling their electricity payment obligations.

According to Adelabu, the revised tariff has resulted in a 30 to 40 percent decrease in energy expenses for consumers within the specified range. He emphasized that the tariff adjustment was not intended to worsen the economic situation but to alleviate the hardship of the people.

Addressing concerns about the impact on production costs and consumer prices, Adelabu argued that manufacturers under Band A should experience lower energy costs, thereby reducing their production expenses. He urged stakeholders to consider the comprehensive impact of the tariff revision, including the reduction in expenses related to generator servicing, diesel, and petroleum procurement.

Adelabu's remarks have sparked a debate among industry experts and consumers, with some expressing support for the potential cost-saving benefits, while others remain skeptical about the overall impact of the tariff adjustment on the economy.

The Minister's comments have brought attention to the complex dynamics surrounding the electricity tariff hike and its implications for both consumers and the manufacturing sector.

Jigawa State, IITA Join Forces to Revolutionize Agricultural SectorIn a groundbreaking collaboration, the Jigawa State G...
16/05/2024

Jigawa State, IITA Join Forces to Revolutionize Agricultural Sector

In a groundbreaking collaboration, the Jigawa State Government has partnered with the International Institute of Tropical Agriculture (IITA) to usher in a new era of agricultural innovation and technology.

This strategic alliance aims to revolutionize the agricultural landscape in Jigawa State, paving the way for sustainable growth and development.

The partnership was formalized during a momentous meeting at the Government House in Dutse, where an esteemed delegation from IITA, led by Ms. Aline Mugisho, Executive Manager of the IITA’s I-Youth Project, met with Governor Mallam Umar Namadi. Ms. Mugisho emphasized IITA's rich legacy of over 50 years in African agriculture and its global presence spanning 134 countries.

She underscored the imperative to reevaluate existing agricultural practices and technologies in order to address the pressing challenges confronting farmers across diverse ecological zones.

Governor Namadi, in expressing his fervent support for the collaboration, underscored the pivotal role of agriculture as a primary employer in Nigeria.

He emphasized the alignment of IITA's new approach with Jigawa State's 12-point development agenda and stressed the need to position agriculture as a lucrative business opportunity for the youth.

The partnership holds immense promise, as it seeks to empower young Nigerians and bolster their interest in agriculture through technology-driven solutions. With a focus on skill development and the promotion of agriculture as a profitable venture, the collaboration is poised to create a ripple effect, significantly reducing unemployment, boosting the economy, and promoting self-sufficiency.

By harnessing the power of innovation and technology, the cooperation between Jigawa State and IITA represents a significant stride towards driving sustainable agricultural growth, creating employment opportunities, and empowering young people in the agricultural sector.

Major Cryptocurrency Exchanges Remove Naira Amid Currency Manipulation ConcernsIn response to directives from the Office...
16/05/2024

Major Cryptocurrency Exchanges Remove Naira Amid Currency Manipulation Concerns

In response to directives from the Office of the National Security Adviser (ONSA) and the Securities and Exchange Commission (SEC), several peer-to-peer cryptocurrency platforms have taken the unprecedented step of removing the naira as a trading option. This move comes as a proactive measure to curb potential currency manipulation and safeguard the integrity of the digital currency market.

The announcement was made in a press release from the SEC in Abuja on Thursday, May 16. Notably, KuCoin, a prominent cryptocurrency exchange, has officially declared the discontinuation of the naira as a fiat currency choice for transactions. This decision has been met with mixed reactions from the cryptocurrency community, with some expressing concerns about the implications for Nigerian crypto traders and the overall impact on the market.

Industry experts anticipate that this development will prompt significant changes in the cryptocurrency landscape, as platforms work to implement the necessary technological adjustments to accommodate the removal of the naira promptly. Additionally, stakeholders are closely monitoring the potential ripple effects of this decision on the broader cryptocurrency market, particularly in relation to trading volumes and investor sentiment.

As the cryptocurrency industry continues to evolve and adapt to regulatory developments, the removal of the naira from major exchanges underscores the growing intersection of digital currencies with global financial regulations and geopolitical considerations.

Dangote Refinery Set to Boost Capacity with 24 Million Barrel American Crude Oil DealAfrica's largest oil refinery, the ...
16/05/2024

Dangote Refinery Set to Boost Capacity with 24 Million Barrel American Crude Oil Deal

Africa's largest oil refinery, the Dangote Refinery, is poised for a substantial expansion as it considers acquiring 24 million barrels of American crude oil over the next year.

The $20 billion refinery, owned by Nigerian billionaire Aliko Dangote, has announced plans for a significant increase in its refining capacity.

Lens AfricaTV gathered that the refinery is seeking to purchase two million barrels per month of West Texas Intermediate Midland crude oil for a year-long period starting in July.

This bold move is expected to not only bolster the refinery's operations but also have a significant impact on the regional and global oil markets.

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