The Naira yesterday depreciated in the parallel market to N1,500 per dollar from N1,485 per dollar on Tuesday.

Similarly, the Naira depreciated to N1,476.24 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,476.24 per dollar from N1,473.66 per dollar on Tuesday, indicating N2.58 depreciation for the naira.

The volume of dollars traded on the window fell by 76 per cent to $92.68 million from $385.91 million on Tuesday.

Consequently, the margin between the parallel market and NAFEM rates widened to N23.76 per dollar from N11.34 per dollar on Tuesday.

The World Bank has approved two financing facilities of $2.25 billion for Nigeria to support the Federal Government’s efforts to stabilize the economy.

The approval was announced in a statement entitled, “Supporting Nigeria’s Homegrown Reforms: New World Bank Financing for Inclusive Growth and Revenue Diversification”.

The statement said: “The World Bank has today approved two operations: $1.5 billion for the Nigeria Reforms for Economic Stabilization to Enable Transformation, RESET, Development Policy Financing Program, DPF, and $750 million for the Nigeria Accelerating Resource Mobilization Reforms, ARMOR, Program-for-Results, PforR.

“This combined $2.25 billion package provides immediate financial and technical support to Nigeria’s urgent efforts to stabilize the economy and scale up support to the poor and most economically at risk.

“It further supports Nigeria’s ambitious, multi-year effort to raise non-oil revenues and safeguard oil revenues to promote fiscal sustainability and provide sufficient resources to deliver quality public services.

“Confronted with a fragile economic situation, Nigeria recognized the urgency of changing course and embarked on critical reforms to address economic distortions and strengthen the fiscal outlook.

“Initial critical steps to restore macroeconomic stability, boost revenues, and create the conditions to reignite growth and poverty reduction have been taken.

“These include unifying the multiple official exchange rates and fostering a market-determined official rate, as well as sharply adjusting gasoline prices to begin to phase out the costly, regressive, and opaque gasoline subsidy.

“The Central Bank of Nigeria, CBN, has refocused on its core mandate of price stability and is tightening monetary policy including by increasing interest rates, as is appropriate to reduce inflation. 

“A targeted cash transfer program is being rolled out to cushion the impact of high inflation on the poor and economically insecure households.”

Wale Edun reacts

Commenting, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said: “We have embarked on bold and necessary reforms to restore macroeconomic stability and put the country back on a sustainable and inclusive economic growth path that will create quality jobs and economic opportunities for all Nigerians.”

Also commenting, Ousmane Diagana, the World Bank Vice President for Western and Central Africa, said: “We welcome the support of the RESET and ARMOR programs as we further consolidate and implement our macro-fiscal and social protection policy reforms, consistent with accelerating investment and redirecting public resources sustainably to achieve development priorities.

“Nigeria’s concerted efforts to implement far-reaching macro-fiscal reforms place it on a new path which can stabilize its economy and lift its people out of poverty.

“It is critical to sustain the reform momentum and continue to scale up and expand protection to the poor and economically at risk to cushion the effects of cost-of-living pressures on citizens.

“This financing package reinforces the World Bank’s strong partnership with Nigeria, and our support towards reinvigorating its economy and fast-tracking poverty reduction, which can serve as a beacon for Africa.

“The RESET DPF is focused on supporting Nigeria strengthen its economic policy framework by creating fiscal space and protecting the poor and economically insecure.

“The ARMOR PforR will support efforts to implement tax and excise reforms, strengthen tax revenue and customs administrations, and safeguard oil revenues,” the World Bank said.

The Nigeria Football Federation have announced plans to appoint a foreign technical adviser for the Super Eagles, while under-fire Finidi George is set to return to his assistant role position following the poor start to the 2026 FIFA World Cup qualifiers.

The Super Eagles drew 1-1 against South Africa in Uyo on Friday before losing to Benin Republic on Monday. The results drew criticisms from Nigerians and the Minister of Sports summoned the Nigeria Football Federation few hours after the loss.

The meeting between the minister of sports, Senator John Enoh, NFF President, Ibrahim Gusau and other members of the apex football body in Nigeria took place on Thursday.

Following the meeting, the NFF announced its plan to employ a foreign technical adviser for the Super Eagles ahead of the Nations Cup qualifiers and the remaining matches in the World Cup qualifiers.

Finidi George is expected to assist the new technical adviser, who will be appointed in the next few weeks.

The NFF also revealed plans to beef up the NFF Technical Department with more qualitative hands. Equally, the Technical and Development Sub-Committee will be re-jigged with immediate effect.

The board also expressed displeasure with the poor attitude of some of the players to the national assignment, and unanimously decided in favour of a more robust scouting programme of outstanding Nigeria-eligible players from across the four corners of the universe, who can add tremendous value to the nation’s flagship team.

The Super Eagles will return to action in September for the Nations Cup qualifiers.

The Federal Capital Territory (FCT) Command of the Nigeria Security and Civil Defence Corps (NSCDC) has deployed 5,112 personnel to boost security during Sallah celebrations in the federal capital.

Dr. Olusola Odumosu, the FCT Commandant of the NSCDC, announced Tuesday that the deployment would cover all six Area Councils and the city center, especially sensitive locations, soft targets, black spots and flash points that are prone to criminal activities.

He warned miscreants, vandals, and other criminals to steer clear of critical national assets and infrastructure, saying any individual caught engaging in criminal activities would face the full wrath of the law.

Odumosu further cautioned against burning tyres on roads, which he said constitutes vandalism and compromises the integrity of road infrastructure.

He also urged residents to refrain from such acts, warning that offenders would be prosecuted.

The commandant warned miscreants who take advantage of festive seasons to commit acts of vandalism of infrastructures such as street lights, solar panels and batteries to desist from that as the command has men all over the FCT and anyone caught perpetrating such criminal acts would be apprehended.

“The FCT administration has spent so much to provide good roads and other basic infrastructure for residents of the FCT, we will therefore not tolerate any act that will sabotage the effort of government,” Odumosu stated.

He further instructed Area Commanders and Divisional Officers to ensure massive deployments within their jurisdictions, and to ensure adequate security coverage in all places of interest.

“The Corps is committed to ensuring safety of lives and property of residents and the protection of Critical National Assets in the FCT.

“You are to ensure 24 hours protection of all these infrastructures, and the holiday makers in the city. We must show commitment in the discharge of our duties as law enforcers.

“However, there is no room for carelessness or over zealousness while carrying out your duties and the operational order must be followed to ensure professionalism on your part,” he said.

Odumosu assured FCT residents that the NSCDC would collaborate with other security agencies to provide security at prayer grounds, motor parks, recreational centers, and other places of interest during the Sallah festivities. He extended his felicitations on the occasion of Eid-El Kabir.

The Federal Capital Territory (FCT) Command has said it successfully tracked a criminal syndicate specialised in the sales of already registered sim cards to criminals.across the nation’s capital.

The syndicate were arrested on May 29, after weeks of intelligence trailing, led by the State Intelligence Department (SID) led by ACP Mohammed S. Baba.

The FCT Police Commissioner, Ben Igweh while parading the suspects: Ndubuisi Okeh, John Jock, Nafiu Tijani (a dispatcher), Nasiru Sulaiman, John Njoku and Suleiman Musa, said the syndicate operate with other people’s identities to avoid being traced or tracked.

He said, “They bridged national security and were involved in terrorism. In one of our fights in the kidnapper’s camp, we discovered that there were a lot of broken SIM cards, about 20-30 SIM cards broken.

“So, we ventured into the case and started enquiring: Why do we have a lot of SIM cards broken, as small as it is, they are still broken.

“We started by enquiring about the last of the bandits we arrested. We discovered that they may come from tribe A, but the SIM cards they used were from tribe B, so we decided to probe into it.

“We discovered that there are people specialised in producing active and workable SIM cards unknown to our security.

“They specialise in selling, and producing already registered SIM cards and we caught them all in Kaduna State.

“We recovered the machines and what they use to produce the SIM cards.

“Our worry is how they bypass the NIN and fingerprint that are required to produce cards. We recovered 1,100 already active SIM cards.

“They sell it to bandits and criminal lords at the cost of N3000-N5000 each. So, it is a case we are probing more.

“It may interest you to know that four different numbers could be registered under a single NIN, hence, these criminals employ street sim card vendors to get the details of unsuspecting residents who buy sim cards and register at the same time.

“If you remove any of the SIM cards and put it in your phone, the network they use will ask you to put credit, and once you do so, the phone becomes active.

“Three registration machines and other gadgets were recovered from the suspects. The suspects have all confessed to the crime and will be charged to court at the conclusion of the investigation.”

Speaking to journalists, the suspects confessed to the crime, stating that they used the biometrics of a few to register many.

Although they denied conniving with any of the network providers, the syndicate admitted to using the biometric verification scanners to register unsuspecting members of the public randomly in Kaduna and Abuja communities.

The syndicate are part of the 14 suspects paraded at the FCT police command on Thursday.

Other cases involving car thefts and their perpetrators were also addressed by the command, with no fewer than seven firearms, six vehicles, three two fingerprint machines and one Gionee phone recovered by the operatives.

Src: [TheWhistler]

Nigerian filmmaker cum actress, Wumi Toriola has slammed her colleague Jigan Babaoja for threatening her over a recent video she made.

It all started with a project Wumi Toriola is working on, which she shared a clip from on the photo and video sharing app, Instagram.

While promoting the upcoming film, Wumi Toriola shared a video of herself on a movie set mimicking the walking step of a handicap. 

Not pleased with the video and believing the actress was mimicking him, Jigan threatened to sue Wumi and charge her to court on Monday. Knowing Monday is a public holiday, Jigan further asserted that he would force a court to open over the case.

Resharing the video, Jigan wrote on Instagram while tagging his female colleague,

“You go explain on Monday for court !!! @wumitoriola
I will force any court to open on Monday over this case !!!!

Onyemilenuuuuuuuuu !”.

Unbothered by his threats, Wumi Toriola questioned who gave him the license to monopolise the movie industry. She said he isn’t the only handicap in the world told him to do his worst. She wrote in his comments section:

“Ha Agbakan na, who gives you license to monopolise the industry? Who? @jiganbabaojo, do your worse, imagine. Are you the only handicap in the world. Do your worst, I am ready”.

Hitting back, Jigan asked Wumi if she’s truly disabled and how she became one. He added:

“Answer few questions ooo. Do you have and ID? Your own na injection or motto jam you? You don price madam”.

Jigan who is known to prank celebrities and laugh make jokes about his disability had his fans reeling in laughter with his latest post. See video and some reactions below:

Toyosi, the wife of popular Nollywood actor Daniel Etim Effiong, has opened up on her journey of overcoming insecurities in their marriage.

Speaking in an interview with Terms and Conditions on Pulse, she revealed that her personal growth has been substantial since tying the knot with Etim.

Approaching their 7th anniversary in November, Toyosi reflected on the early challenges she faced, particularly during the early years of their union.

She recounted a poignant moment during her first pregnancy when a woman persistently knocked on the door during their scan session, which frustrated Toyosi as it was a personal moment.

When they finally opened the door, the woman screamed upon seeing her husband, exclaiming, “I knew it was you.”

As a mother of three, Toyosi shared how she has grown to handle such situations with grace and understanding, noting that some people even freeze in his presence due to their admiration for her husband.

Peter Obi, the 2023 presidential candidate of the Labour Party (LP), has expressed his dismay over the economic crisis gripping the nation

During an appearance on Arise TV, Obi criticized the current state of affairs, highlighting the need for urgent action.

Obi pointed out that President Bola Tinubu has indeed fulfilled his campaign promises, albeit in a manner that has exacerbated the country’s economic woes.

According to Obi, Tinubu had consistently pledged during his campaign to continue the policies of his predecessor, Muhammadu Buhari.

Obi’s remarks suggest that the country’s economic crisis is a direct result of the current administration’s policies, which have only served to perpetuate the problems inherited from the previous government.

His comments have sparked concerns about the nation’s economic trajectory and the need for a drastic change in direction.

He maintained that he would score Tinubu an excellent pass mark for living up to his promise.

According to him, ‘’President Tinubu has kept to his campaign promises. Throughout the campaigns, he consistently maintained that he will continue from where Buhari stopped and he has done very well.

“I will give him excellent pass mark. Dollar was N460, it is now N1500. Fuel was N238, it is now about N700. Diesel was N844, it is now N1415. A bag of rice was 40 to 35 thousand, it is now about 80, 000. A bag of beans was similar, it is now about 90, 000. Garri was 27-28, it is now 49 to 50, 000. A tuber of yam was about 2700 to 3000, now it is about 10, 000.

“Tomato basket was about 40, 000, now it is about 150, 000. Electricity was N66 per kilowatt, now it is about N200.

“You can go on and on. Our debts! Even bread which is the basic things other countries are subsidizing like Egypt . Small bread was N450 is now N900. The big one that was N900 is now N1500.

“Everything has headed south, Adherence to the rule of law has worsened. Nepotism is at the highest’’

Argentine football icon Lionel Messi has disclosed that he envisions Inter Miami as the club where he will conclude his illustrious playing career. However, he has no immediate plans to retire.

In an interview with ESPN, Messi, who is under contract with the MLS side until the end of the 2025 season, expressed his sentiments.

“Yes, at this moment, I believe it will be my last club,” Messi stated to ESPN. However, he added, “I’m not ready to leave football either.”

The eight-time Ballon d’Or winner achieved legendary status with Barcelona, securing four Champions League trophies and ten La Liga titles during his tenure.

Messi notably led Argentina to victory in the 2021 Copa America and played a crucial role in their 2022 World Cup campaign. He is preparing to represent Argentina this month in the upcoming Copa America in the United States.

Following his departure from Barcelona after a lengthy tenure from 2004 to 2021, Messi spent two seasons at Paris Saint-Germain before joining Inter Miami last year. He played a pivotal role in the club’s early success, including winning the Leagues Cup.

“It was a challenging decision to leave Europe and come here,” Messi admitted. “Being a world champion influenced my perspective.”

Messi’s arrival has significantly boosted MLS’s profile in the United States, with stadiums consistently selling out and his jersey becoming the top choice among MLS fans.

Looking ahead, Messi contemplates representing Argentina in the 2026 World Cup, which will be jointly hosted by the USA, Mexico, and Canada. He also reflects on the inevitable conclusion of his remarkable career.

“Football has been my life. I love playing. I enjoy training every day, playing matches,” Messi shared. “There’s a bit of fear about it ending, but I try to enjoy every moment. I feel fortunate to have great teammates and friends at my club and the national team.”

Messi emphasized his appreciation for the small football details he knows he will miss once he retires.

Gernot Rohr, head coach of the Benin Republic national football team and former coach of Nigeria’s Super Eagles, asserted that his team, the Cheetahs, displayed superior discipline compared to the Eagles following their historic 2-1 triumph over Nigeria in a 2026 World Cup qualifier held in Abidjan.

Benin’s victory at the Stade Felix Houphouet-Boigny saw Jodel Dossou and Steve Mounie score after Raphael Onyedika had initially put Nigeria in the lead. This cements Benin’s ascent to the group summit with seven points. Meanwhile, Nigeria languishes in fifth place with only three points from four matches, sparking concerns that they will miss out on a consecutive World Cup appearance since their 2022 disappointment.

In a post-match interview, Rohr praised his team’s organization and hunger for goals, contrasting it with the Super Eagles’ performance.

“These players consistently demonstrate solidarity. They possess a strong belief and scoring ability,” Rohr remarked. “Our organization was spot on. After conceding the first goal, perhaps they thought the game was won, but my team’s reaction and determination were immense to mount a comeback.”

Meanwhile, the Super Eagles expressed regret to Nigerians for their disappointing form in the qualifiers. In a tweet from the team’s official handle, they vowed to rally and secure qualification for the 2026 World Cup.

“We’ve held discussions among ourselves and are determined to fight till the end to achieve the seemingly impossible task of qualifying for the 2026 World Cup.”

The Eagles’ next fixtures in the 2026 World Cup qualifiers are scheduled for March 2025, visiting Rwanda on March 17 and hosting Zimbabwe on March 25.