April 29, 2024
the Nigerian Senate through its Committee on Finance has called for concerted efforts by all relevant stakeholders to rescue and sustain the stability of the naira.
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The naira persisted in its decline against the US dollar within the official exchange framework, concluding at 1,309.88 naira on Thursday, April 25.
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However, the naira, last week, recovered against the US dollar at the parallel market but began to depreciate again.
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In a statement issued by the Chairman of the Committee, Senator SANI MUSA (APC, Niger East), said there was an urgent need for concerted efforts at tackling the instability and continuous depreciation of the naira.
April 26, 2024
The case involving a 72 year old Hollywood star, HARVEY WEINSTEIN, who was convicted of rape in Los Angeles in 2020has been overturned in New York on the basis that he did not receive a fair trial.
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The New York Court of Appeals said prosecutors in the pivotal #MeToo case called witnesses whose accusations were not part of the charges against him.
The decision also said the trial judge compounded the error by letting WEINSTEIN to be cross-examined in a way that portrayed him in a “highly prejudicial” light.
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While 72 year old WEINSTEIN remains in prison, lawyers for the victims said the decision to retry the case was tragic and a leap backwards.
April 22, 2024
The Federal Government has announced its qualification for a loan from the World Bank, totaling 2.25 billion dollars.
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The minister of Finance and Coordinating Minister of the Economy, Mr WALE EDUNunveiled this milestone during a joint press conference held by the Ministry of Finance and the Central Bank of Nigeria (CBN) at the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C.
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He said the package, approved by the Board of Directors of the World Bank, offers a 40-year term with a 10-year moratorium and a nominal 1 percent interest rate.
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He added that Nigeria is set to benefit from budgetary support and low-interest funding from the African Development Bank, noting that negotiations with foreign direct investors are also underway.
April 16, 2024
The National Identity Management Commission (NIMC) has announced that it has issued 105 Million National Identification Numbers (NIN) to Nigeria and aims to capture the country’s over 200 Million population by 2026.
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The Head of Corporate Communications at the commission, KAYODE ADEGOKE, disclosed this over the weekend.
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ADEGOKE mentioned that with the introduction of the self-service portal, all modifications are now completed within 24 to 48 hours, stating that it’s a shift from the past where individuals had to wait for months before modifications were made.
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He also explained the distinction between the NIMC self-service portal and the NIMC mobile app, which has been available for some time.
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He noted that the two platforms serve different purposes. The mobile app can be used for identification and linking mobile numbers to NINs, while the self-service portal is solely for data modification, a function that is not available on the app.
