Category: Africa - Page 5 - African News Today

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 ...

Death Toll Rises to 33 in George Building Collapse Tragedy, 19 Still Missing

15May

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News, Safety, South Africa

Death Toll Rises to 33 in George Building Collapse Tragedy, 19 Still Missing

A week after the devastating building collapse in George, South Africa, the death toll has climbed to 33, with 19 individuals still unaccounted for, marking a somber escalation in the aftermath of the tragedy. Despite tireless rescue efforts, which have mobilized a vast array of resources, including cranes, heavy machinery, and sniffer dogs, no new survivors have been located. The grim reality is further underscored by the identification of only six victims thus far, highlighting the immense challenges faced by rescue teams amid the rubble. See Also: Building Collapse Leaves 23 Dead as Week-Long Rescue Efforts Continue Focused efforts are now concentrated on scouring the building's lower levels, as well as the first and second floors, in the hope of locating any remaining survivo...

Nigerian Singer Portable Attempts Daring Escape from Police Over Unsettled Debt

15May

By adminNo Comments

Law Enforcement, News, Nigeria

Nigerian Singer Portable Attempts Daring Escape from Police Over Unsettled Debt

Nigerian entertainer, Habeeb Okikiola, better known by his stage name Portable, found himself in a precarious situation on Tuesday as he attempted to evade arrest by the operatives of the Lagos State Police Command. The incident unfolded when officers arrived to apprehend him following a complaint filed by a car dealer over an unsettled debt. Portable had engaged in the purchase of a N27 million G-Wagon from the dealer, making an initial payment and promising to clear the remaining amount at a later date. However, the transaction soured when Portable allegedly failed to fulfill his payment obligations. In a widely circulated video capturing the dramatic arrest, Portable, dressed in a white and black striped shirt, was seen engaging in a seemingly convivial conversation with the offi...