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Popular businessman and socialite, Emeka Okonkwo, aka E-Money, has pledged to take care of the children of late Nollywood actor, Junior Pope.
Recall that Junior Pope and three others lost their lives after their boat capsized on the Anam River in Anambra State while returning from a movie location.
Mourning the late actor, E-Money revealed that Junior Pope’s last words were about his commitment to train his three sons.
He promised to fulfil the late actor’s wish by taking over the responsibility for his kids.
On his Instagram page, E-money wrote: “It has been one week since you departed from this world, leaving behind a profound sense of loss that reverberates not only among us but also across Africa and beyond.
“Your presence, as both a friend and a brother, is deeply missed, JP. The weight of your absence bears heavily upon our hearts, yet we draw comfort from the belief that God will grant us the resilience to carry forward and uphold the legacy you’ve entrusted to us.
“We tenderly remember your final words on the boat, ‘Na only me dem born, I get 3 children na me go raise them,’ and we solemnly commit to honoring that vow.
“Your children now find solace in the embrace of the Okonkwo family, and we, as members of that family, pledge to nurture them as you would have wished. Your absence leaves a palpable void, JP, and your memory will forever be held dear. Rest peacefully, knowing that you are deeply cherished, and may God’s blessings encompass your soul, your family, and all who hold you in their hearts.”
The Governor of the Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, said yesterday that the apex bank is not defending the Naira with the nation’s foreign reserves.
He was speaking against the backdrop of the recent decline in Nigeria’s foreign reserves corresponding with massive appreciation of the Naira in the foreign exchange market (forex), fueling speculations that the apex bank pumped forex into the market to dwarf demand pressure and shore up the value of the local currency.
Speaking at the on-going Spring Meetings of the IMF the World Bank, Cardoso said that his team at the apex bank is determined to nurse a foreign exchange market ruled by the principle of willing buyers-willing seller.
He also said that Ways and Means (federal government borrowings from CBN) is no longer an issue, particularly after the fiscal authorities securitised the outstanding.
His words, “Defending the Naira, from every indication is an elephant in some rooms. I will make this as clear as possible. It is not our intention to defend the Naira. Much as I have read in the recent few days some opinions about what has happened in terms of our reserves being drawn down, the CBN Defending the Naira, if you take your mind to our philosophy and policy, you will see it will be counter intuitive. We want the Naira to perform independently as long as we have a vibrant forex market.
“Initially we needed to keep the BDCs going. So it is important for people to get forex for school fees, travels and the like.
Why reserves shifted
“The shift you see in our reserve is not to defend the Naira but for things like settling obligations that fell due. Mind you, that is the reason for keeping foreign reserves, in the first place.”
Cardoso also said that his team is cooperating with the fiscal authorities and that, “Ways and Means is no longer an issue.
He said, “Let me be upfront in saying that the monetary policy is only one side. It is very clear to us that we need to have a very good handshake with the fiscal authorities.
“For instance, food inflation is not within the purview of the CBN. Ways and Means is now less an issue.”
The CBN boss said he decided to go the orthodox central banking route in order to build confidence in the Nigerian currency.
He also said that he had no choice than to raise monetary policy rate, recording 600 basis points hike within a short period of time.
He promised to communicate more with Nigerians and other stakeholders in order to moderate their expectations.
“We want Nigerians to be realistic in their expectations. We have used the MPC to explain why we took the measures that we have taken.
“We will strengthen the communication framework using different platforms to communicate.”
The governor expressed satisfaction that he took hard decisions but added that they are yielding desired outcomes.
He said within two months of his administration , the Naira was adjudged the worst performing currency, but within six months it moved to the best performing currency, globally.
“Ultimately the objective is to ensure that we moderate inflation’’, he stated.
Key take-away lessons for him, he said, was that he could not over-emphasise the importance of trust, stating, “Irrespective of boldness to do certain things if the trust is not the there, you will sub-optimise.
“It is a bit of a surprise that one had expected a greater understanding of a lot of the issues, expectations of the people on the CBN is often misplaced.”
Cameroonian professors in some Nigerian universities and other professionals working in the country, who were arrested and detained in Cameroon have filed a petition before the House of Representatives to intervene on their behalf and free them from detention.
The petitioners, ten in number, are registered refugees in Nigeria, who also called on the Federal Government under President Bola Tinubu, to deploy other means to secure their release from detention by the Cameroonian authorities.
Their petition was presented to the House Committee on Public Petitions by a legal firm, FRULAW CHAMBERS.
The professors and professionals were arrested at Nera Hotel in Abuja on January 5, 2018, by security agents and later repatriated to Cameroon, tried by a military tribunal and sentenced to life imprisonment at the Kondengui Maximum security detention facility.
In their petition, the asylum seekers in Nigeria pleaded with House to, among others, cause the government of Nigeria to institute an urgent action to secure the implementation of communication 59/2022 of October 14, 2022, of the UN-HRC-WGAD calling for their release.
Addressing journalists on the petition, a lawyer at FRULAW CHAMBERS and a former member of the House of Representatives, Abdul Shaibu Oroh, reiterated the call on President Tinubu-led federal government to employ diplomatic and political measures to ensure the release of detainees.
He said: “What we are asking the parliament to do, we realise that these people were not detained under the administration of Bola Tinubu who is a human rights person.
”He was a former exile, a former refugee in another country who was running away from tyranny. He fought tyranny and defeated tyranny.
“Now, there is hope renewed, so we want that hope that is renewed to engage our neighbours, to touch the lives of our neighbours, especially these my clients. We want him to intervene with the Cameronian authorities to release them.
”Even the UN Special Commission on Arbitrary Arrests made this appeal to the Buhari administration but you people know that the Buhari administration didn’t respect human rights, they didn’t listen to anybody.
“So we are appealing to him, we are appealing to our parliament elected by our people, by sovereign will of the Nigerian people to intervene with the Cameroonian authorities to release these people.
”May be they can go into a conversation to negotiate peace because these people are interested in peace so that their refugees can return home, so that their people can have peace.
“You know, you cannot negotiate with somebody who is not free. These people, one of them, former deputy registrar of Ahmadu Bello University, ABU, Zaria, was 65 years old and according to the law of Cameroon, you cannot sentence a man who is 65 years old to life imprisonment.”
In apparent response to the rising economic hardship in the country, the number of disengaged workers that withdrew money from their pension savings for sustenance increased by 33.9 per cent in the fourth quarter of 2023, Q4’23.
According to the Q4’23 report released by the National Pension Commission, PenCom, 10,299 Retirement Savings Account, RSA, holders that lost their jobs, withdrew from their pension savings in Q4’23, up 33.9 percent from 7,688 of such withdrawals the previous quarter, in Q3’23.
In Q4’23, the 10,299 RSA holders withdrew N6.5 billion from their pension savings against 7,688 RSA holders that withdrew N8.6 billion in Q3’23.
The Pension Reform Act permits disengaged workers to withdraw 25 per cent of their pension savings four months after losing their jobs.
The report stated: “In Q4’23, a total of 10,307 RSA holders requested to access 25% of their RSA balances due to temporary loss of employment. Out of that, 10,299 RSA holders’ requests were approved, while eight were rejected because their ages were above 50 years.
“Out of the 10,299 applicants whose benefits were approved, 9,819 were from the private sector, while the remaining 480 were from the public sector. The sum of N6,504.96 million was approved for the 10,299 RSA holders under the age of 50 years.”
The report further states that: “In Q3’23, a total of 7,697 RSA holders requested to access 25% of their RSA balances due to temporary loss of employment. Out of this figure, 7,688 RSA holders’ requests were approved, while nine were rejected because their ages were above 50 years. From the 7,688 applicants whose benefits were approved, 7,242 worked in the private sector, while the remaining 446 worked in the public sector. The sum of N8,628.27 million was approved for the 7,688 RSA holders under the age of 50 years.”
Meanwhile, on contributions for residential mortgage, the report stated: “A total of 1,128 RSA holders requested to access up to 25% of their RSA balances towards payment of equity contributions for residential mortgage during the quarter under review. Approvals were granted to 991 requests amounting to N9,618.74 million, while 137 were rejected due to incorrect documentations. Out of the 991 applicants whose benefits were approved, 304 were from the private sector, while the remaining 687 were from the public sector.”
AS the Peoples Democratic Party, PDP holds its National Executive Committee, NEC meeting today, former Federal Commissioner for Information and South South Leader, Chief Edwin Clark has called for the setting up of a Disciplinary Committee that will be saddled with the responsibility of probing the anti-party activities of former Governor of Rivers State and others whose roles led to the failure of the PDP in the 2023 elections.
Clark described Wike who is presently the Minister of the Federal Capital Territory Administration, FCTA as the greatest enemy of the PDP, manipulating it, with an intent of destroying it.
He added that his anti party activities must be dealt with decisively, by setting up a strong disciplinary committee made up a strong people with resilience to resist pecuniary gains.
In a statement on Wednesday in Abuja, the Elderstatesman has also called for the immediate dissolution of the present National Working Committee, NWC of the PDP for what he described as their anti-party activities.
Clark’s statement is titled, ” As the National Working Committee, (NEC) of the Peoples Democratic Party (PDP) meets: A Poser- PDP: To be or not to be?”
The Leader of Pan Niger Delta Forum, PANDEF said that after the dissolution of the NWC, an Acting National Chairman should be appointed in accordance with the Constitution of the party, adding that there was a precedence during the tenure of Prince Uche Secondus, who was still in court, when the party appointed another Acting National Chairman.
According to the Leader of Southern and Middle Belt Leaders Forum, SMBLF, the party should immediately revisit the on-line registration of its members as it was initiated by the then National Chairman, Dr. Okwesilieze Nwodo, to save the party from depending on individuals, just as he said that some overzealous members of the party have hijacked it for their selfish gains.
Clark has warned the party that if the former Vice President and the 2023 Presidential candidate, Atiku Abubakar is made the candidate for 2027 elections, PDP will collapse as the second principal party in the country today.
Clark said, ” I know that many people who read this article will say to themselves that they thought Chief Edwin Clark said he has retired from active and partisan politics. Yes, I said I have resigned from partisan and active politics. But it was one of the famous philosophers Aristotle, who said “Man is by nature a political animal.” He went on to narrate that because no human can flourish on their own, there is a natural tendency of man to partner with their fellow men.
“And one of these partnerships is that relating to polis, which is the Greek word for community; from where is derived political partnership. Therefore, for as long as Almighty God keeps me alive, both physically and mentally, I will continue to speak on governance and political matters, especially when it is tending to adversely affect our nation.
“The Peoples Democratic Party (PDP) was set up by leaders of like mind who assembled in the nation’s capital, Abuja, on 28th July, 1998, to work together “for the speedy restoration of democracy, achievement of national reconciliation”, amongst others. Some of us joined immediately the idea of such an egalitarian political party was enunciated, because we felt that was what our dear country needed and still needs.
“But what has happened today? Some overzealous members of the party have hijacked it for their selfish gains. Some of us have been shouting and warning against this. I recall that in order to avoid “money bags” taking over the party, instead of the National Working Committee (NWC) of the party, as provided by its Constitution, a one-time National Chairman of the party, Dr. Okwesilieze Nwodo, former Governor of Enugu State, during his tenure, proposed in accordance with the party’s provisions, payment of membership dues by all members with which the party will be run. He denounced the issue of deep pockets taking over the party when in his acceptance speech in 2010 stated “Needless to say, we need money to prosecute our elections but I can assure you that Ghana-Must-Go bags will not be needed at the National Secretariat of PDP in order to win primary elections. There will be no room for cash-and-carry democracy in the PDP because it is the bane of true democracy.
” My sincere advice to the members of the party’s NWC which is composed of notable politicians, is that they should be courageous enough to: Set up a Disciplinary Committee to investigate the anti-party activities, particularly the roles played by some members which led to the failure of the PDP in the 2023 elections;
“To dissolve the existing NEC of the party for their anti-party activities;
“To appoint an Acting National Chairman in accordance with the Constitution of the party. This was what happened during the tenure of Uche Secondus, who was still in court, when the party appointed another Acting National Chairman;
“The party should immediately revisit the on-line registration of its members as it was initiated by the then National Chairman, Dr. Okwesilieze Nwodo, to save the party from depending on individuals, because as they say, he who pays the piper, dictates the tune.”
Earlier, the Elderstatesman said, “Rumours have it that Atiku is already preparing for the 2027 presidential election. If this is allowed, PDP will collapse as the second principal party in the country today. While no one is contesting his right of contesting or indicating interest for the presidency of the country as many times as he wishes, which as the last count is up to five times, he should also know that fair play is the bedrock of the game.
“Another person that also seems to be holding or going for the jugular of the PDP, is Barr. Nyesom Wike. Honestly, I lack words to describe his actions. The nearest description I can give for his actions is political androgynous, he is neither in PDP or APC. He seems simply acquisitive, and the greatest enemy of PDP, manipulating it, with an intent of destroying it.
“Most of us supported Barr. Wike in his agitation against Alhaji Atiku Abubakar. But he has gone too far in causing tragedy in PDP. His anti party activities must be dealt with decisively, by setting up a strong disciplinary committee made up a strong people with resilience to resist pecuniary gains, who are courageous to investigate his activities, and that of any other person/persons suspected to engage in anti-party activities. The seeming contest for the soul of the PDP between himself and Alhaji Atiku Abubakar is not only ridiculous but a negation of the ideals for founding the party.
“Even though Nyesom Wike, had a good case considering what transpired during the last presidential primary election of the PDP, he has crossed the red line. Today, he is dancing naked in the market. He regards himself as the leader of both the PDP and APC in Rivers State, and that is why I described him as someone who can be referred as a political androgynous; an acquisitive person. Wike used his influence on APC National Chairman, Alhaji Umar Ganduje, to set up a caretaker committee of the party in Rivers State under the leadership of Mr. Tony Okocha, a position he, Mr. Okocha, sees as an opportunity to deride, harass and attempt to humiliate an elected Executive Governor of the State, Siminalayi Fubara.
“The story is the same in PDP in the State; where Barr. Wike recently removed the State Chairman, and recommended him for a federal appointment. Now, with his control of PDP and APC in Rivers State, he has appointed some APC members as caretaker committee members of the party in Rivers State.
“Is Nyesom Wike only waiting for the appropriate time to destroy the PDP and become a full fledge member of the APC? It is alleged that it is the same Barr. Wike who sponsored the 27 members of the Rivers State House of Assembly, to defect from the PDP to the APC, using the National Secretary of the Party, who was in court as the reason and that PDP has split.
“Even though these members in accordance with constitutional provisions have lost their seats in the House as a result of their defection to another party when there was no crisis in the party on which platform they were elected, Wike is retaining them with the support of Mr President, to the extent of threatening to impeach the Executive Governor, Siminalaye Fubara.
” I will, at this juncture, like to repeat the question I asked in the book I am writing on PDP, ‘Whither PDP: to be or not to be?’. The inordinate ambition of Their Excellencies Alhaji Atiku Abubakar and Barr, Nyesom Wike, to be president of the country, will kill the party. These two seem to prefer to use their personal funds to establish their leadership, not because of their love for the party. PDP wake up! This is a clarion call.
“It is true that for some time the party had no funds, particularly the time between Ahmed Makarfi and Ali Modu Sheriff. Nyesom Wike was the only Governor who financially supported the party. Again, in his usual manner, he insulted and humiliated the party. He dared them not to hold the party convention in Port Harcourt. The party kowtowed to him. Even after that, he continued to harass and intimidate the party. For instance, he sponsored Uche Secondus to be the national chairman of the party against the wishes of most other members. The same Barr. Wike later on instigated and sponsored the removal of Uche Secondus, two months before the party’s National Convention.
“Barr. Wike’s engagement in brash politics seems to be affecting members of the party including the party’s Acting National Chairman, Amb. Umar Iliya Damagum and the National Secretary, who take instructions from Barr. Wike. Hence, the sixty members on the platform of the party in the House of Representatives, are calling for the resignation and or removal of the Acting National Chairman.”
[Vanguard]
Pascal Okechukwu, who is popularly known as Cubana Chief Priest is a Nigerian celebrity bar man, entrepreneur associated with the nightlife scene.
Known for his lavish lifestyle, exuberant personality, and ostentatious displays of wealth, Cubana Chief Priest has become a household name in Nigeria and beyond.
However, behind the glitz and glamour lies a story that raises questions about the responsible use of wealth and the consequences of unchecked extravagance of Cubana Chief Priest.
Here are 10 key insights into the persona and controversies surrounding Cubana Chief Priest:
Early life
Born Pascal Chibuike Okechukwu, Cubana Chief Priest grew up in Aba and Umuhu Okabia, Imo State, Nigeria. As a child, he dreamt of becoming a musician.
Shoemaking business
Following his father’s footsteps, Cubana Chief Priest learned the art of shoemaking in Aba. His dedication paid off, earning him his first million during his time at Federal Polytechnic Nekede in Owerri.
Family life
In the midst of his career pursuits, Cubana Chief Priest found love and married Angel Gold Okechukwu. Their union blessed them with two sons, Chukwuebuka and Obinna.
Entrepreneurial milestone
Cubana Chief Priest’s entrepreneurial spirit led him to establish Club Xhrine in Owerri, marking a significant milestone in his career.
Social media boom
With his vibrant personality and charm, Cubana Chief Priest became a social media sensation, amassing millions of followers on Instagram.
Arrest and controversy
In April 2022, Cubana Chief Priest was apprehended by the EFCC at the Nnamdi Azikiwe International Airport in Abuja. He faced allegations that stirred controversy and left his fans shocked.
Career and speculation
Following his arrest, Cubana Chief Priest’s social media presence dwindled, leaving fans wondering about his whereabouts and the future of his career.
Philanthropic life
Despite his flamboyant image, he is known to engage in philanthropic activities, such as supporting the less privileged and contributing to community development projects.
He has been known to donate money to charitable causes and support aspiring entrepreneurs, earning praise from some quarters for his generosity and community engagement.
Fame and limelight
He has a massive following on social media, with millions of followers on platforms like Instagram, where he shares insights into his lifestyle, businesses, and social engagements.
Alleged Naira abuse
Following Bobrisky’s arrest, the Economic and Financial Crimes Commission (EFCC) arrested Cubana Chief Priest on Tuesday, April 16, 2024. He was arraigned on Wednesday and pleaded not guilty.
The Federal High Court in Lagos State consequently granted the businessman and socialite N10m bail with two sureties in like sum.
Keaiirra Shavoiyae Chidozie, a 28-year-old woman, faces charges after fatally shooting her Nigerian husband four times during a domestic dispute in their residence in the United States. She is scheduled to appear in court for arraignment on May 23rd.
Keaiirra shot Michael Chidozie once in the arm, once in the chest, and twice in his torso and left to die on the bedroom floor.
The incident happened in their residence in Houston, Texas on March 21, and Michael died of spinal injury complications.
According to reports, the police found the 26-year-old Micheal in gun wounds and was rushed to Ben Taub Hospital, but died after spending 18 days on life support.
A man has died less than a month after police say his wife shot him multiple times at their apartment in the Galleria area.
Investigators said the shooting was a result of an argument between the couple on March 21.
According to ABC13 Houston news, court documents show the victim’s wife is facing an aggravated assault with a deadly weapon charge.
It was, however, revealed that the Harris County Clerk’s website reveals the charge has not been upgraded.
It added that Keaiirra is out on bond and awaiting her next court date on May 23.
According to investigators, the two children belonging to the couple witnessed the altercations that led to the shooting.
The children have been delivered to a family for care pending the case of their mother.
The neighbours said they had not experienced the couple having a disagreement before, leaving them in surprise over the issue.
“I never would have thought something like that would happen,” Francis Abah, Michael’s friend, said.
“They were just like every other couple who every now and again had issues, but I was expecting they would work it out,” Abah said.
“But you never saw them be violent towards each other,” ABC13 Houston reporter Alex Bozarjian asked.
“No, not at all,” Abah answered.
Abah said he and Michael became friends in 2018, and that their kids often played together.
“We just envisioned this whole big family get together. It is very tragic. His exit was a painful one,” Abah said.
“It’s a tough pill to swallow, and something he feels didn’t need to happen had the couple sought help.”
At just 26 years old, Michael died from complications at Ben Taub Hospital on April 8, 18 days after he was shot.
The report added that Michael’s family and friends are trying to raise money to send his body back home to Nigeria
A study conducted by invoicing software company, Bookipi, has revealed that Nigerians are among the least expensive freelancers on one of the leading freelancing platforms, Upwork.
Nigeria ranked 18th out of 40 countries studied, charging an average of $163 per job, while freelancers from Colombia, which ranked as the number one least expensive country, charge an average of $73.13 per job.
On the other hand, freelancers from Australia are ranked as the most expensive. According to the report, Australian freelancers charge an average of $594.56 per job.
Other countries
The second least expensive country is Brazil, where the average price of hiring a freelancer was found to be $79.81. In third is Argentina with an average freelancer rate of $80.84 per job. They are also the second cheapest country for a virtual assistant freelancer, according to the report.
Ranking as the fourth least expensive country is Jamaica, with an average rate of $88.63 per job. Venezuela came 5th with a cost of $93.41 per freelancing job.
At the other end of the scale, India follows Australia as the second most expensive, with an average rate of $501.00 per freelancing job, while Morocco ranked third most expensive with an average cost of $402.03.
Economic factor
Speaking on the findings, Tim Lee, CEO and founder of Bookipi, said:
- “Our team members come from various corners of the world – Asia, Africa, Europe, and America and their life stories and experiences contribute to our team’s richness. Working closely together has taught me an immense amount about appreciating different cultures.
- “As a result, we were interested in how these different experiences are reflected through the costs of freelance workers worldwide.
- “Typically, countries with robust economies and high living standards tend to host the most expensive freelancers, which the data reflects by finding Australia as the most expensive freelance country.
- “Although this is true for India, the second country to appear in the ranking, freelancers can command a higher rate thanks to their specialized skills and expertise in industries such as software development, IT services, and digital marketing.
- “We hope this ranking will help empower freelance workers around the world to know their worth and be more confident in fairly pricing their services.”
How the data was collected
Bookipi said it carried out a data scrape of the freelance site Upwork to find which countries are charging the most money for freelancing services. According to the company, 119 countries were initially included in the analysis, but data limitations left 40 countries that could be compared and ranked fairly.
- “This scrape gathered pricing data on freelancer projects that fell into one of the following ten categories: Logo Design, Video Editing, Data Entry, Virtual Assistant, SEO, Social Media Management, Resume Writing, Creative Writing, Web Programming, and Mobile Apps.
- “The starting price and ending price for each project were gathered, and a median price for each project was calculated based on these two figures. The country location of the freelancer who hosting the project was also gathered,” the company explained.
For the overall country ranking, the median price of freelance services was based on a minimum of 10 projects for each country. This was meant to avoid any anomalies. For the category-specific rankings, a minimum of three project listings were used.
[Nairametrics]
Singer Davido has reacted to the N10 million bail granted socialite Pascal Okechukwu, aka Cubana Chief Priest after he pleaded not guilty to alleged naira abuse.
DAILY POST reports that Cubana Chief Priest, who was arraigned before Justice Kehinde Ogundare of the Federal High Court, Lagos, on Wednesday, by the Economic and Financial Crimes Commission, EFCC, on a three-count charge bordering on abuse of the Naira, was granted bail for N10m with two sureties in like sum after pleading not guilty.
The socialite had taken to his Instagram handle to thank his friends and fans for their concerns shortly after he was granted bail.
He noted that he was humbled by the trial while adding that it has confirmed that he isn’t “small.”
Reacting to his post via the comment section, Davido said it was not possible for Cubana Chief Priest to be jailed, stressing that he could not bear not seeing him for six months.
He wrote, “I no go see u for 6 months ke… Never.”
Recall that Justice Abimbola Awogboro of the Federal High Court in Lagos, last Friday, sentenced popular crossdresser, Bobrisky to six months in jail without the option of a fine after he was convicted of Naira mutilation.
[DailyPost]
Nigeria’s foreign reserves fell to $32.29 billion on April 15 — the lowest level in over six years.
According to the latest data from the Central Bank of Nigeria (CBN), TheCable Index observed that on March 18, the reserves moved from $34.44 billion — the highest level in 2024 — to $32.2 billion on April 15.
The foreign reserves dropped by $2,15 billion or 6.26 percent.
This brings to an end, a period of steady increase between February 5 and March 18, when the FX reserves rose by $1.28 billion.
CBN had attributed the growth to increased remittance payments from Nigerians abroad and heightened interest from foreign investors in local assets, including government debt securities.
The last time the foreign reserves stood at this level ($32.29 billion) was on September 9, 2017, when the CBN reported N32.28 billion.
The decline in foreign reserves comes amid CBN intervention in the parallel market in a bid to crash the FX rate.
On February 27, the apex bank allocated $20,000 to each bureau de change (BDC) operator at the rate of N1,301/$, while the second tranche of $10,000 was sold to the BDCs at the rate of N1,251/$.
On April 8, the apex bank began the third tranche of sales to BDCs at N1,101/$.
Amid this intervention, the naira appreciated against the dollar in the parallel market, moving from N1,900 per dollar on February 21, to N1,100/$ on April 13.
During the same period, the local currency, at the official window, recovered to N1,136.04/$ per dollar, from N1,551.24/$.
[TheCable]
More...
Several passengers were stranded as major flights were disrupted due to a heavy flood that hit the premises of Dubai International Airport in the United Arab Emirates on Tuesday.
This was also seen in a viral video seen by SaharaReporters on TikTok showing how several aircraft and passengers were struggling to move due to the heavy flood.
It was gathered that Dubai’s highways were clogged by floodwaters and passengers were urged to stay away from the airport as the glitzy financial centre reeled from record rains.
Several reports claimed that the country witnessed unprecedented rainfall with 254mm (10 inches) falling in Al Ain on Tuesday in less than 24 hours, according to the National Centre of Meteorology. That was the most since records began in 1949, before the country was established in 1971.
Although the torrential rains had subsided by late Tuesday, problems persisted on Wednesday, with Dubai's flagship Emirates airline halting check-in for customers departing Dubai Airport until midnight.
“Flights continue to be delayed and diverted … We are working hard to recover operations as quickly as possible in very challenging conditions,” an airport spokesperson told Aljazeera.
The storms hit the UAE and Bahrain overnight Monday and on Tuesday after lashing Oman, where 18 people were killed, including several children.
Climatologist Friederike Otto, a specialist in assessing the role of climate change on extreme weather events, said it was “highly likely” that global warming had worsened the storms.
Afrobeats singer Yemi Alade has urged fans and followers against poking into the business of others too often.
According to her, if it persists then one automatically becomes their problem.
She advised people not to meddle in other people’s problems because if they do it consistently, they will soon become a problem to the people they’re trying to help.
“Getting too involved in people’s problems will make you a problem in their eyes eventually,” she wrote.
The Nation reported in March, Yemi called out a certain popular blogger for spreading lies about her.
Her outrage was coming following a particular alleged interview she granted going viral.
The post allegedly said Yemi said she was faced with s3xual advances from some men in the industry.
Celebrity businessman Pascal Okechukwu, a k a Cubana Chief Priest has told Federal High Court in Lagos that he has 1000 workers on his payroll while he is also suffering from heart palpitations as a result of his weight
Lawyer to Cubana Chief Priest, Mr Chikaosolu Ojukwu ,SAN, said this while urging the court to grant him bail after he pleaded not guilty to three counts charges bordering an alleged abuse of the Naira currency.
The Economic and Financial Crimes Commission, EFCC accused the celebrity businessman of spraying and tampering with the Naira notes during a social event at Eko Hotel in Lagos.
When the case was called on Wednesday, Mrs Bilikisu Buhari, appeared for the prosecution
The defence counsel then first informed the court of a preliminary objection challenging the courts jurisdiction as well as a bail application files on behalf of the defendant.
He informed the court that the prosecution was not opposed to same.
After the charge was read to Cubana Chief Priest, he pleaded not guilty to the charge.
In moving the bail application of the defendant, counsel urged the court to grant him bail on liberal terms .
He told the court that the defendant was admitted by the prosecution following his health condition, adding that due to his weight, the defendant suffers palpitation
Besides, he told the court that the offence with which the Cubana Chief Priest is charged is a misdeamenour and that the prescribed punishment ranges from a fine of N50,000 or an imprisonment term of six months.
He urged the court to grant bail on very liberal terms to the defendant as he is a first offender with no past criminal records .
Counsel also informed the court that the Cubana Chief Priest is an employer of labour with over 1000 employees on his payroll, who are dependent on their jobs.
He, consequently, urged the court to grant his application as moved
In response, the prosecutor said she will leave the issue of bail to the discretion of the court.
The court is yet to deliver ruling on the bail.
(NAN)
Renowned singer Tiwatope Omolara Savage, known professionally as Tiwa Savage, says her dream was to be an actress.
In a recent interview with MTV, the Afrobeats star said she had always wanted to be in the film industry.
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According to her, she delved into the music industry because of a man she had a crush on.
Tiwa Savage said her crush was always around musicians, so she ditched acting for music.
“I have always wanted to do acting. Acting was one of my first loves before music. I got into music because I had a crush on a guy and he was always around the musician so I said ‘yeah, forget acting and just go into music’,” she said.
Daily Trust reports that “Water and Garri,” a Nollywood blockbuster featuring Tiwa Savage in her first acting role, is set for premiere on May 10.
Meji Alabi, director of the film, made the announcement on his Instagram page.
“Always wanted to shoot a movie, so we did. D- excited to share that our new Film “Water & Garri” @WaterAndGarri Film is coming out on May 10th on @Primevideo,” he wrote.