The Central of Nigeria Monetary Policy Committee has raised interest rates by 150 basis points to 26.25 per cent from 24.75 per cent in March to tackle rising inflation.

CBN Governor, Olayemi Cardoso disclosed this on Tuesday at the 295th MPC press briefing in Abuja.

The apex boss said the decision to raise the interest rate was to tame the country’s soaring headline inflation which increased to 33.69 per cent in April.

CBN had continued tightening of monetary instruments to bring down inflation.

The 295th MPC meeting is the third since the appointment of Cardoso in September last year.

In May 2023, Nigeria’s interest rate stood at 18.75 per cent.

The National Chairman of the All Progressives Congress, APC, Dr Abdullahi Ganduje, has said that the National Working Committee, NWC, of the party is working to get new state governors come 2027.

Ganduje made this known on Tuesday in Abuja at a policy roundtable titled, ‘The Asiwaju Scorecard Series’, organised by APC Professionals Forum.

He said the leadership of the APC was gradually restructuring the party into a truly grassroots progressive party.

The chairman said the NWC has directed the state chapters of the party to liaise with their respective governors and other stakeholders to ensure that they have full-fledged, functional offices in every political ward and state to enable members across the country to have symbolic representation in their neighborhood.

He said the NWC has also constituted a reconciliation committee that would reconcile all aggrieved party members, and such committees would be established at the state, local government and ward levels.

Ganduje noted: “Even though it is not yet an election period, we are reinvigorating that party to ensure that come 2027, we will retain and get new state governors, as well as Mr President to secure another mandate to continue with his government’s policies and programmes.

“We are gradually restructuring our party into a truly grassroots progressive party. We have directed our State Chapters to liaise with their respective Governors and other stakeholders to ensure that we have full-fledged, functional offices in every political ward and state to enable our members across the country to have symbolic representation in their neighborhood.

“This measure will ensure that party activities are rolled out all year round not during political campaigning and elections only.”

The Rivers State High Court has invalidated the amended Local Government Law proposed by the Martins Amaewhule faction of the Rivers State House of Assembly.

The ruling was delivered in a suit numbered PHC/1320/CS/2024, which challenged the extension of tenure for LG chairmen for six months after the expiration of their term.

Justice D.G. Kio, presiding over the case, declared the amendment invalid, citing its inconsistency with the 1999 Constitution and Section 9(1) of the Rivers State Local Government law No. 5 of 2018.

The court emphasized that the applicable law governing the tenure of local government chairmen and councillors is the Rivers State Local Government Law No. 5 of 2018, which stipulates a three-year tenure.

The attempt to extend their tenure through the enactment of the Local Government Law No. 2 of 2024 was deemed unlawful and contrary to their oath of office.

The ruling marks a victory for Enyiada Cookey-Gam and six others who challenged the extension, asserting the primacy of constitutional principles in governance.

A former National Vice Chairman, North-West, of the All Progressives Congress, APC, Dr Salihu Lukman, has said that contrary to the expectation that President Bola Tinubu will replicate his earlier success as Lagos governor, his administration has succeeded in creating more doubts in the minds of Nigerians.

Lukman, in a statement issued Tuesday titled, ‘Illusive Politics: What is to be Done’, saud Tinubu’s administration had been characterized by policy missteps and reversals.

The APC chieftain lamented that after 25 years of democratic rule, Nigeria was yet to produce leaders that are predisposed to accommodating the interests of citizens.

He said: “Painfully, against every expectation that President Asiwaju Tinubu will reignite the Lagos success story at national level, his government is more and more creating doubts in the minds of Nigerians about the prospect of resolving the country’s challenges with incidences of policy missteps and reversals.

“As a result, crisis of insecurity has remained. Problems of inflation, unemployment and poverty are on the increase.

“If the hallmark of the tenure of former President Buhari is the trauma of dashed hopes for citizens, we must, as Nigerian citizens and as committed progressive politicians, wake up and remedy the ugly and despicable experience of illusive politics.

“After one year in office, the unmistaken message must be conveyed to President Asiwaju Tinubu and by extension all APC leaders that the democratic future of Nigeria is not negotiable.”

Super Eagles head coach Finidi George says his team is focused on their next 2026 FIFA World Cup qualifying fixture against the Bafana Bafana of South Africa.

The three-time African champions are yet to record a win in the qualifiers after drawing their opening two games against Lesotho and Zimbabwe.

The West Africans must beat Hugo Broos’ side to get their qualification campaign back on track.

Finidi is wary of the difficult task ahead of his team but is confident they can surmount the hurdle.

“We know Nigerians would love the team to win all the time, and we’ll just get the players focused on the game, one game at a time. We focus on the South African game and see how we can win that one before we talk about the Benin Republic game. For me, as a coach, it’s either you have a good result, or you don’t have a good result,” Finidi said in an interview with Eagle FM.

“One cannot be scared in life. Like I said, going through life is difficult, you walk through it with the difficulties that you know you’ll encounter. So that’s how I look at life and approach it that way, and football will not be any different. We will do our job and make sure we get the best out of that game, and apart from that, nothing else.”

The long-awaited student loan programme will take off on Friday with 1.2 million students in federal tertiary institutions across the country, the Managing Director/Chief Executive Officer of the Nigeria Education Loan Fund, Akintunde Sawyerr, has said.

Sawyerr, who spoke at a pre-application sensitisation press conference in Abuja, on Monday, said 1.2 million students in federal universities, polytechnics, colleges of education, and technical colleges would benefit from the first phase.

Data obtained from the National Universities Commission website indicated that the nation has 226 federal tertiary institutions comprising 62 universities, 41 polytechnics, 96 monotechnics and 27 colleges of education.

President Bola Tinubu, on April 3, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

The assent was sequel to the separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and the Tertiary Education Trust Fund.

The executive bill titled, ‘A bill for an Act to repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact the Student Loans (Access to Higher Education) Bill, 2004 to Establish the Nigerian Education Loan Fund as a body corporate to receive, manage and invest funds to provide loans to Nigerians for higher education, vocational training and skills acquisition and related matters,’ was signed in the presence of the leadership of the National Assembly, ministers and major stakeholders of education.

The Act empowers the Nigeria Education Loan Fund to provide loans to qualified Nigerian students for tuition, fees, charges and upkeep during their studies in approved public tertiary institutions and vocational and skills acquisition establishments in the country.

The new law which repealed the Student Loan Act, 2023, removed the family income threshold so students can apply for loans and accept responsibility for repayment, according to the Fund’s guidelines.

Access to education

Speaking after he signed the bill, Tinubu said no Nigerian, regardless of their background, would be excluded from obtaining quality education.

“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future,” said the President at the State House, Abuja.

Although the government initially announced that the scheme would be launched in September, it suffered several delays leading to an indefinite postponement.

The Presidency had linked the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.

Last Thursday, the Nigerian Education Loan Fund announced May 24 as the official date for the opening of the portal for loan applications.

Addressing journalists on Monday, ahead of the opening of Friday’s portal, Sawyerr said, “There are approximately 1.2 million students in federal tertiary institutions owned by the government. Today, by inference, 1.2m students maximum at the federal level (will benefit), but there might be an opportunity to increase the capacity in terms of more institutions, and when we begin to bring in state-owned institutions, then the numbers can go up.’’

He explained that only students whose institutions had uploaded their data on the Fund’s dashboard would be eligible to apply.

While calling on students in federal tertiary institutions to visit the website, www.nelf.gov.ng to apply from May 24, the CEO added that students in state universities and vocational skills centres could apply at a later date.

He said the requirements to apply include the admission letter from the Joint Admissions and Matriculation Board, National Identity Number, and Bank Verification Number as well as completed application forms from its website.

“The loan application process has been streamlined to ensure easy access for all eligible students in federal tertiary institutions. Applicants can access online support to assist with any questions or concerns during the application process.

“We believe that education is a vital investment for the future. We envisage that the student loan initiative of Mr President is a testament to this commitment,” he said.

One of the key features of the programme, he stressed, is the absence of physical contact between the loan applicant and NELFUND.

‘Portal user-friendly’

According to him, the portal provides a user-friendly interface for students to submit their loan applications conveniently.

He encouraged students in federal tertiary institutions to take advantage of the opportunity to secure the required financial assistance for their education, even as he urged the applicants to submit their applications as soon as possible to ensure timely processing.

He revealed that in addition to the interest-free loan, applicants will also receive monthly stipends for upkeep.

He, however, did not state the amount, saying, “That figure will be capped. And we will look very closely at each application and make a decision based on several factors as to what fees will be paid to them.’’

“The fees for the institution are going to be paid not to the students but to the institution. And that will be paid at the maximum of that fee per session. We will only pay for a session at a time because people drop out of institutions, they change institutions,” he clarified.

The NELFUND boss also pointed out that the institutions have vital roles to play in providing the Fund with data on fees payable by students at the departmental, faculty and other levels.

According to Sawyerr, the agency is also working with security agencies to ensure that people do not take advantage and defraud the process.

Meanwhile, the Federal Government has called on state governments to ensure responsible and transparent use of the matching grants allocated for the implementation of the Universal Basic Education Commission programme.

The Executive Secretary of UBEC, Dr Hamid Bobboyi, emphasised the directive during the inauguration of a six-day training programme for accountants and auditors from UBEC and State Universal Basic Education Boards in Abuja.

Addressing the participants, Bobboyi condemned the undue pressure often placed on financial officers by state officials, urging SUBEBs’ financial officers to uphold integrity and resist such pressures to avoid compromising standards.

“The training aims to update participants on the revised accounting manual and to provide a comprehensive understanding of financial infractions and sanctions,” Bobboyi stated, adding, “This knowledge is essential for ensuring effective service delivery in basic education.”

Highlighting the mandates of UBEC and SUBEBs in implementing the Universal Basic Education programme, Bobboyi stressed the importance of a robust accounting system to ensure the judicious use of government funds.

He stressed the imperative of fidelity to accountability regarding the management of the Federal Government’s UBE Intervention Fund.

To achieve these objectives, continuous enhancement of professional competence among UBEC and SUBEB staff is necessary, he noted.

Bobboyi lamented that despite previous training efforts, there has been limited improvement in financial practices.

He cited findings from regular quarterly financial monitoring by UBEC, which revealed poor record-keeping and infractions against established guidelines.

He explained that the findings and recommendations from these monitoring activities had been communicated to SUBEBs for corrective actions.

Bobboyi stressed the importance of adhering to existing rules and guidelines to ensure accountability and transparency in financial transactions.

“As finance officers, it is your duty to comply strictly with these government stipulations. Engaging in or condoning wrongdoing will not be excused. Remember, reports from UBEC’s financial monitoring can be requested by agencies enforcing compliance with laws and regulations,’’ he warned the officials.

He further urged the participants to fully engage with the training and return to their offices equipped with the necessary skills and knowledge to improve accounting practices at both the commission and boards.

To protect the FGN-UBE Intervention Fund, the Director of Finance and Accounts at UBEC, Adamu Misau, noted that a new sanction regime developed in 2022 had been approved for implementation.

The delay in its implementation, he said, was to ensure all financial managers received adequate training, which the current programme aimed to provide.

“We expect that by the end of this training, financial officers will be better prepared to manage the FGN-UBE Intervention Funds responsibly, adhering to financial regulations and due process,” Misau concluded.

Super Eagles of Nigeria midfielder, Alex Iwobi has stressed that he has no regrets for choosing his ancestral home over England in international football.

Alex Iwobi was born in Lagos, Nigeria but was raised in London and had his basic football education at Arsenal Football Academy. He graduated from the academy and started his professional football career at the club.

Due to his skills and enormous potential, Alex Iwobi represented England at Under-16, Under-17, and Under-18 levels. Despite that, he opted to play for the Super Eagles of Nigeria.

Iwobi made his international debut for Nigeria on March 25, 2016, against Egypt in an African Cup of Nations qualifier.

Since then, the former Everton versatile midfielder who now plays for Fulham has gone on to become one of the most prominent members of the national team.

“I wouldn’t say I have any regrets. I’d like to say I respected England, they gave me a lot of opportunities and I was able to do them proud,” Alex Iwobi told Hotsports Nigeria.

“But I feel more at home with Nigeria. I feel this is where I’m at home and where I represent, like my family, everyone. I’ve grown up in a Nigerian culture so I’d say that I have no regrets about picking Nigeria over England

“I’ve been here for a while now and I’m familiar with the team. Even from the first time I came here they always made me feel welcome.

“I’m always enjoying myself not just when we are playing matches but in training. In the camp, it’s like one big family so it makes it easier for me to express myself and join in.

“I’m enjoying my time and hopefully there’s more years to come as well.”

A Kenyan man has allegedly committed suicide following the outcome of the 2023/24 English Premier League season, which Manchester City won on Sunday, May 19.

In a viral video seen by Pulse, the deceased, who was wearing an Arsenal FC jersey, was spotted in a position that seemed like he had hung himself to death.

It was gathered that the unknown man, whose identity is yet to be determined, was an Arsenal fan.

Man City and Arsenal entered the season's final day knowing that a slip from either of them would cost them the title.

However, Man City entered the final day of the season with a two-point advantage over Arsenal, with 88 and 86 points, respectively.

A win for Man City against West Ham at the Etihad would seal them a record fourth consecutive EPL title, while Arsenal also required a must-win against Everton at the Emirate stadium and a slip from Man City to secure their first EPL title in 20 years.

Man City eventually won the title after defeating West Ham 3-1, while Arsenal needed a late winner in stoppage time to defeat Everton 2-1.

However, the tragic video of the Arsenal fan who killed himself has sparked mixed reactions amongst netizens on social media.