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Judiciary is the Biggest Threat to Nigeria’s Democracy – Obi

17May

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Elections, Judiciary, Justice, News, Nigeria

Judiciary is the Biggest Threat to Nigeria’s Democracy – Obi

Enugu, May 17, 2024 – Peter Obi, the presidential candidate of the Labour Party (LP) in the 2023 election, has declared the judiciary as the foremost threat to Nigeria’s democracy, rather than the electoral umpire. Obi made these remarks during his keynote speech at the fifth memorial of late Justice Anthony Aniagolu at Godfrey Okoye University in Enugu. In a candid and critical address, the former governor of Anambra State lamented the current state of Nigeria's judicial system, which he described as being plagued by corruption and inefficiency. "Justice in Nigeria goes to the highest bidder and has become commodified," Obi stated emphatically. "While the judiciary, today, still boasts of a few outstanding judges, there is an undeniable decline in our judicial system. This decline ...

Tinubu’s Economic Reforms Showing Positive Results – Bagudu

17May

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Economy, News, Nigeria

Tinubu’s Economic Reforms Showing Positive Results – Bagudu

Abuja, May 17, 2024 – President Bola Tinubu’s economic reforms have begun to bear fruit, according to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu. Speaking to newsmen in Abuja on Friday, Bagudu highlighted the renewed faith in Nigeria's economy and the resurgence of foreign investor interest as key indicators of the reforms' success. In a statement issued by his Special Assistant on Media, Bola Adebiyi, Bagudu acknowledged the initial challenges posed by the removal of the petrol subsidy but emphasized the long-term benefits. "Although the removal of petrol subsidy caused some pain, the policy has increased the quantum of funds available to the three tiers of government to invest in critical infrastructure," Bagudu stated. He argued that these investments woul...

Delisting of Naira from P2P Trading Platforms Underway

17May

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Economy, Finance, Information Technology, Nigeria

Delisting of Naira from P2P Trading Platforms Underway

In a supposed move to stabilize the Nigerian currency, the Securities and Exchange Commission (SEC) announced yesterday that several cryptocurrency exchanges have begun the process of delisting the Naira from Peer-to-Peer (P2P) trading platforms. This action follows a directive issued last week by the SEC in collaboration with the Office of the National Security Adviser (ONSA). The directive mandates digital currency operators to remove the Naira as a fiat currency option on their platforms. This measure aims to protect the Nigerian currency from potential manipulations that could undermine its value. The SEC's recent checks confirmed that the KuCoin platform has already started implementing this change, adjusting its technology to accommodate the delisting of the Naira. See Also: C...

ADB Commits $2 Billion to Clean Cooking Access in Africa

16May

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Africa, African Development, Environment, Finance, Infrastructure, News, Safety

ADB Commits $2 Billion to Clean Cooking Access in Africa

The African Development Bank (AfDB) has pledged a monumental $2 billion over the next decade towards enhancing access to clean cooking solutions in Africa. This commitment was announced during a landmark summit on Clean Cooking in Africa held in Paris, where the Bank's President, Dr. Akinwumi Adesina, emphasized the critical importance of safe cooking alternatives beyond just culinary needs, highlighting the profound impact on dignity. The significance of this commitment lies in its potential to save the lives of approximately 600,000 individuals annually, predominantly women and children. The AfDB plans to allocate 20% of its energy project financing towards promoting safe cooking alternatives, aiming to address the prevalent use of charcoal, wood, and biomass for cooking in Africa. ...

South Africa’s Contentious Healthcare Bill Signed into Law

16May

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Elections, Legislature, News, South Africa

South Africa’s Contentious Healthcare Bill Signed into Law

South Africa’s President Cyril Ramaphosa signed the National Health Insurance (NHI) bill into law on Wednesday, sparking both hope and controversy across the nation. The bill, enacted just two weeks before a crucial general election, aims to deliver quality healthcare to all South Africans, regardless of income. However, concerns loom large over its implementation amidst fears of corruption and budget constraints. The ruling African National Congress (ANC), facing the possibility of losing its parliamentary majority for the first time post-apartheid, sees the NHI as a vital step towards equitable healthcare. Currently, 80% of citizens rely on stretched state-run health services, while only 16% have access to private healthcare through medical aid schemes. See Also: One Million Afric...

Reps Wants Nigerians Educated on the Cyber Crimes Levy

16May

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Finance, Legislature, News, Nigeria, Security

Reps Wants Nigerians Educated on the Cyber Crimes Levy

In a recent session, the House of Representatives took steps to address what it termed misconceptions surrounding the Cyber Crimes Act to ensure its effective implementation. The directive, aimed at the Office of the National Security Adviser (NSA) and the Central Bank of Nigeria (CBN), stressed the importance of public awareness and correct execution of the law. The motion, presented by the House Minority Leader, Hon. Kingsley Chinda, along with seven others, highlighted concerns regarding the Cybercrimes (Prohibition and Prevention) Act, 2015, as amended in 2024. The House emphasized the need to rectify misinterpretations of the law and dispel any erroneous perceptions of its enforcement. During the session, Chinda referenced a previous motion on May 9, 2024, which focused on the ...

Reactions as Minimum Wage Negotiations Hit a Snag

16May

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Economy, Employment, Labour, News, Nigeria

Reactions as Minimum Wage Negotiations Hit a Snag

Negotiations between the Nigerian government and organized labor have hit a roadblock, sparking concerns over fair wages and economic stability. The recent walkout by labor representatives before negotiations even began has drawn criticism and calls for reconsideration from various stakeholders. Speaking on behalf of the Organized Private Sector of Nigeria, Mr. Adewale-Smatt Oyerinde, Director-General of NECA, expressed disappointment at the early walkout, emphasizing the importance of all parties presenting their opening positions before negotiations commence. He urged labor leaders to return to the negotiation table in the interest of national development. Dr. Ikenna Nwosu, a facilitator with the Nigerian Economic Summit Group, criticized the government's stance, citing economic i...

Labour Rejects Government’s Minimum Wage Offer

16May

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Economy, Employment, Labour, News, Nigeria

Labour Rejects Government’s Minimum Wage Offer

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have walked out of the minimum wage negotiation with the Federal Government. The negotiation, fraught with tension, hit a standstill as the government's offer of N48,000 fell drastically short of the N615,000 demanded by the unions. This rejection marks the second deadlock in as many weeks, signaling the deep-rooted disagreement between labour and the government over what constitutes a fair national minimum wage. The impasse emerged during a session convened on Wednesday, where hopes for a breakthrough were dashed as both parties failed to bridge the considerable gap between their positions. The offer presented by the government, far below the unions' expectations, drew immediate condemnation from labour leaders who descr...

Emefiele Pleads Not Guilty to Allegations of Unlawful Naira Printing

15May

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Corruption, Economy, Judiciary, News, Nigeria

Emefiele Pleads Not Guilty to Allegations of Unlawful Naira Printing

The former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, found himself at the center of controversy as he appeared in court on Wednesday to face allegations of unlawfully printing Naira notes during his tenure. The Economic and Financial Crimes Commission (EFCC) accused Emefiele of printing N684 million Naira notes without authorization from former President Muhammadu Buhari, amounting to a total sum of N18.96 billion. Additionally, the EFCC alleged that Emefiele unlawfully approved the withdrawal of approximately N124.8 billion from the consolidated revenue fund. Emefiele, however, vehemently denied these accusations when the four-count charge was read to him before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT). His lega...

Nairobi Building Collapses Due to Heavy Rains

15May

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Environment, Kenya, Safety

Nairobi Building Collapses Due to Heavy Rains

In a devastating incident amidst heavy rains and flooding in Nairobi, a building collapsed in the Mathare neighborhood, injuring several individuals. The structure, situated perilously close to a river, was among those marked for evacuation and demolition due to safety concerns prompted by the inclement weather. Rescue efforts were swiftly initiated, leading to the rescue of at least four individuals from the debris. Unfortunately, three of them sustained critical injuries, while one person suffered minor injuries. The Kenya Red Cross has expressed concerns that additional individuals may be trapped under the rubble. The collapse occurred while the building was undergoing demolition, as confirmed by the Red Cross. See Also: Kenya: Government and WHO Spearhead Emergency Response ...