Foreign exchange turnover increased by 81.59 per cent to $328 million as the Naira maintained its N1339.33 per dollar appreciation mark against the Dollar at the official forex market.

FMDQ data showed that FX transactions turnover rose to $328.32 million at the close of trading on Tuesday from $180.80 million the previous day.

The development signaled renewed activity and demand in the foreign currency market.

Meanwhile, at the parallel market section, the Naira appreciated to N1500 per dollar on Tuesday from N1520 the previous day.

Experts have attributed the Naira’s strengthening against other currencies to the Central Bank of Nigeria’s intervention in the foreign exchange market.

CBN governor, Olayemi Cardoso in its 295th Monetary Policy Committee blamed the persistent FX crisis on seasonal fluctuations.

The All Progressives Congress, APC, National Chairman, Abdullahi Ganduje has said most of the challenges President Bola Tinubu is facing were inherited from the previous administration.

Ganduje urged Nigerians to be patient with Tinubu as he addresses the challenges confronting them, ranging from the economy to insecurity.

He spoke in Abuja at the presentation of a book, “The 365 Days of Bola Ahmed Tinubu Presidency: Resetting the Strategic Foundation for a New Nigeria’.

The APC National Chairman pointed out that Tinubu’s hard decisions which had led to the fall of the naira and high prices of foodstuffs were beginning to yield the desired result.

According to Ganduje: “I want to urge Nigerians to show patience and understanding in this administration’s efforts to address some of these challenges ranging from economy, security, and other ones. This I believe has been highlighted by the authors in the book.

“The pronouncement of Emilokan (it is my turn) was made in my presence in Ogun State. I feel highly honoured to chair this book presentation to mark Tinubu’s one year in office. Let me also use the occasion to congratulate Mr President and all Nigerians on this occasion of the 365 days of this golden administration.

“There is no doubt that since his assumption to office, Mr President has faced so many challenges, many of which are global. Some are inherited. But there has been some progress.”

Famous talking drummer cum cultural ambassador of the Ooni of Ife, Aralola Olamuyiwa, better known as ‘Ara the drummer’, has recalled how she broke the jinx of women being prevented from playing talking drums.

Ara, Africa’s first female talking drummer, said in an interview on the latest episode of the ‘Terms And Conditions’ podcast that people tried to discourage her from playing the talking drum.

According to Ara, she self-taught with the musical instrument because she was told that playing the talking drum might prevent her from having children, but she broke the jinx.

She said, “There are some drums females cannot play. I started with the traditional drums. But I evolved over the years. I played different instruments like bass guitar, keyboard, and set drums.

“But I wanted something different, so I started learning how to play the talking drum. People I asked to teach me were skeptical about teaching me because I am a woman. So I am self-taught.

“Although at some point, I was afraid. I was like, ‘what could happen to me?’ They were like, ‘you might not be able to have kids.’ It’s a traditional thing but I broke that jinx.”

Ara has a son with her estranged husband, Prince Nurudeen Olalekan Saliu.

International students at the University of Sussex, particularly those from Nigeria, are facing a tense situation regarding tuition fee payments.

The Students’ Union has accused the university of being insensitive to the economic hardships faced by students from the Global South, where inflation and currency devaluation are taking a toll on their ability to pay fees.

It said that the University sent emails on April 15th demanding full payment of outstanding fees by May 31st, adding that the ultimatum has caused distress among many students, with the SU reporting that over 1,000 students have outstanding debts.

One anonymous Nigerian student explained, “We’re willing to meet our obligations, but we’re pleading for the university to grant us some time.

“Since the exchange rate tripled, my monthly income of £800 is barely enough to cover the £182 weekly accommodation, leaving me struggling to survive.”

A similar situation faced by Nigerian students at Teesside University, who were reportedly removed from their courses due to difficulties paying fees.

The university maintains it takes student well-being seriously and has offered various forms of support, including a hardship fund, welfare loans, and access to well-being resources. However, the letter sent to students with outstanding fees mentioned potential consequences of non-payment by the deadline, including revoked access to IT and library services, withheld certificates, and potential debt collection.

“If payment of your fees remains outstanding after May 31 2024, the university may take action to permanently withdraw you from the university,” the letter read in part.

The most concerning consequence, as highlighted by the university, is the possible withdrawal of student visas by UKVI (UK Visas and Immigration) if the university reports their non-payment.

Riko Kunisue, the Students’ Union’s International Students’ Officer, emphasized the significant stress and fear students are experiencing and called for an extension on the deadline.

While acknowledging the challenges faced by some students, the university maintains it is being flexible and has proactively reached out to affected groups.

“No students have been or will be removed from their courses, or from university accommodation this academic year due to their debt.

“We take the wellbeing of our students extremely seriously and understand that some of our students are currently facing challenging circumstances.

“The university is being as flexible as possible and has proactively engaged with those student groups affected. We have also been offering wellbeing and other support, and signposting available financial support in our communications,” she added.

Nigerian iconic table tennis star, Quadri Aruna has reclaimed his spot as the number one table tennis player in Africa.

Recall that Quadri Aruna had a difficult first quarter of the year which forced him to lose the first spot on the continent for two months.

According to the latest ITTF rankings released by the world table tennis ruling body on Tuesday, May 28, Aruna is currently the 17th-ranked table tennis player in the world, and first-ranked in Africa.

The 35-year-old table-tennis icon displaced Omar Assar of Egypt who has now dropped to the second spot in Africa and 22nd spot in the world.

Recall that Assar took the first spot and remained there for two months after winning the 2024 African Games in Ghana.

The Egyptian lost points after the expiration of the quarter-final points he earned at the Durban 2023 World Championships in South Africa.

Egypt’s Mohamed El-Beiali is the third-best player in Africa and he is ranked 49th in the world after losing 4-0 to Quadri Aruna at the 2024 ITTF Africa Cup.

For women’s table tennis, Dina Meshref from Egypt remains the highest-ranked African player according to the latest ranking of the ITTF. She is ranked 24 in the world.

She is closely followed on the continent by her countrywoman, Hana Goda who is currently ranked 31st in the world.

The Golden Eaglets of Nigeria have failed to qualify for the U-17 Nations Cup despite beating Ghana 3-2 to win the bronze medal at the WAFU B tournament, which serves as the qualifiers for the competition.

Imrana Muhammad opened the scoring for Nigeria in the ninth minute following a goal mouth scramble.

Ghana restored parity when a Golden Eaglets defender diverted the ball into his own net.

Ghana took the lead for the first time in the game in the 27th minute when Harve Gbafa profited from a defensive blunder to beat goalkeeper Dominic Chinedu in goal for Nigeria.

Adeleke brought Nigeria back into the game before scoring a last minute winner to hand the Golden Eaglets a deserved 3-2 win.

The Confederation of African Football has clarified that next year’s Africa U17 Cup of Nations will still have 12 finalists in attendance, as against the minimum of 16 teams being projected by African football enthusiasts.

This means that despite defeating host nation Ghana in Tuesday’s third-place match of the WAFU B U17 Championship, the Golden Eaglets of Nigeria have not qualified for the finals.

CAF’s Director of Competitions, Samson Adamu confirmed that the final competition will have 12 teams and not 16, meaning the Golden Eaglets will miss out on the U-17 Nations Cup and ultimately the FIFA U-17 World Cup in Qatar.

He said: “The final tournament will still have 12 teams.”

Expectations had been high among African football aficionados that the 2025 Africa U17 Cup of Nations would be expanded, following FIFA’s allocation, at its Congress in Bangkok, penultimate week, of 10 slots to the continent for the 2025 FIFA U17 World Cup that Qatar has been designated to host.

Qatar will host five consecutive FIFA U17 World Cup finals beginning next year, each having 48 teams in attendance.

A Federal High Court, Abuja, on Wednesday, discharged the President of Miyetti Allah Kautal Kore, Alhaji Bello Bodejo, of an alleged terrorism charge filed against him by the office of the Attorney-General of the Federation, AGF.

Justice Inyang Ekwo, in a short ruling, discharged Bodejo after counsel for the AGF, Aderonke Imana, moved an oral application for the withdrawal of the three-count charge.

Upon resumed hearing, Imana informed the court that she had an oral application.

The lawyer said the application was pursuant to Section 108 of the Administration of Criminal Justice Act, ACJA, 2015.

She said the request was further predicated on the power of the AGF under Section 174 of the 1999 Constitution (as amended).

“Consequently, the Honourable Attorney-General of the Federation has instructed me to withdraw this charge against the defendant in the interest of justice.

“That is our humble application my lord,” she said.

Bodejo’s lawyer, Ahmed Raji, SAN, did not oppose the application.

The senior lawyer thanked the AGF, Lateef Fagbemi, SAN, for his “magnanimous gesture.”

“We urge your lordship to discharge the accused person under the sections referred to by the prosecutor,” Raji said.

Controversial media personality Saida Boj stirred up a storm by expressing her unconventional views on marriage and divorce.

Saida Boj, known for her outspoken nature and controversial opinions, boldly stated that she finds joy in women divorcing their husbands, citing her belief that men are plentiful and easily replaceable.

During the podcast, Saida Boj asserted her stance, explaining that she respects and even feels happy when a woman decides to end her marriage because it likely signifies her unhappiness in the relationship.

The influencer didn’t stop there. Saida Boj went on elaborate on her perspective, claiming that if she desired marriage, she would have tied the knot years ago, emphasizing her belief that men are not scarce commodities.

According to the influencer, men are “cheap,” and she proudly declared having numerous suitors filling her direct messages.

Saida  Boj’s comments sparked controversy and divided opinions among listeners and social media users.

Prices of essential food items in Nigeria surged significantly in April 2024 compared to the same period last year, according to the latest Selected Food Price Watch report from the National Bureau of Statistics (NBS).

The report revealed a concerning rise in the cost of staple foods across the board. Here’s a breakdown of the price increases:

• Rice: The average price of 1kg of local rice sold jumped a staggering 155.93 per cent year-on-year, reaching N1,399.34 in April 2024. This is compared to N546.76 recorded in April 2023. There was also a slight increase of 3.47 per cent from March 2024.
• Garri: Garri, another Nigerian staple, saw a significant year-on-year price increase of 134.98 per cent. A kilogram of white garri sold rose from N362.50 in April 2023 to N851.81 in April 2024. The price also increased by 13.59 per cent compared to March 2024.
• Tomatoes: The cost of tomatoes also skyrocketed, with a year-on-year increase of 131.58 orr cent. The average price of 1kg of tomatoes reached N1,123.41 in April 2024, compared to N485.10 in April 2023. Additionally, there was a month-on-month rise of 17.06 per cent from March 2024.
• Beans: Similar trends were observed for beans, with a year-on-year price increase of 125.43 per cent. The average price of 1kg of brown beans sold rose from N615.67 in April 2023 to N1,387.90 in April 2024. The price also saw a 12.44 per cent increase compared to March 2024.
• Yam: Yam, a popular root vegetable, was not spared either. The average price of 1kg of yam tubers increased by 154.19 per cent year-on-year, reaching N1,130.37 in April 2024 from N444.69 in April 2023. The price also saw a modest increase of 5.76 per cent compared to March 2024.

These sharp price hikes are likely to put a strain on Nigerian households, especially those with low incomes.

The government may need to consider implementing measures to address the rising cost of food staples and ensure food security for Nigerians.

Nigeria’s first professor of capital market studies, Uche Uwaleke said the inflationary pressure in Nigeria today is more on the food component reflecting the impact of cost push factors arising, especially from high cost of electricity and fuel as well as flooding and insecurity, which continue to impact food supply.

He said, “There’s also the demand side occasioned by increasing money supply from rising FAAC allocations, fiscal dominance, and CBN’s Ways and Means, which feed into high exchange rates.

“Given these demand and supply inflation dynamics in Nigeria, both monetary, fiscal, and trade policies must be properly coordinated in order to boost production and tame inflation.

“State governments should endeavour to apply the increase in FAAC allocation due to naira devaluation on productive activities.

“The current effort by the government in boosting agriculture through the cultivation of 500,000 hectares of land, including the plan for Agric mechanisation, is a step in the right direction. I equally applaud the plan to set up special security teams to rid our forests of bandits, kidnappers, and insurgents.

“On its part, the CBN should ensure that direct advances to the FG in the form of Ways and Means are curtailed within the ceiling specified in the CBN Act.”