Author: Akintayo Adams

Former President Goodluck Jonathan clarified on Thursday that the suspension of Muhammad Sanusi as Governor of the Central Bank of Nigeria (CBN) was not due to his claims that $49.8 billion had gone missing from the country’s coffers. Speaking at the launch of the book, Public Policy and Agents Interests: Perspectives from the Emerging World, co-authored by former Finance Minister Shamshudeen Usman, Jonathan explained that Sanusi was suspended because of queries from the Financial Reporting Council (FRC) regarding the CBN’s expenditures and financial infractions during his tenure. Jonathan noted, “He was not sacked, he was suspended because the Financial Reporting…

Civil servants under the federal government’s payroll will begin receiving payments of the new minimum wage starting from Thursday, the 26th of September 2024. This information was disclosed by Bawa Mokwa, the Spokesperson for the Office of the Accountant-General of the Federation, during an exclusive interview as per DAILY POST. He confirmed that workers would begin receiving alerts for their new minimum wage payments, though he did not specify whether arrears would be included. Mokwa stated, “Federal Government civil servants will start getting the new minimum wage from today, September 2024. As for the arrears, I am not sure.” The…

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According to reports from AS, Cristiano Ronaldo is planning to return to Portugal with his partner, Georgina Rodriguez, as their mansion in Cascais, near Lisbon, is under construction. However, the couple faced a challenge while trying to secure a school for their five children in the area. Ronaldo and Rodriguez reportedly visited St. Julian’s School, a prestigious British private institution in Portugal, known for enrolling children from elite families. Despite discussing the possibility of enrolling their children, the couple’s request was allegedly rejected. According to V+Fama, the school cited concerns about privacy and the potential media attention surrounding Ronaldo’s children…

The Central Bank of Nigeria (CBN) announced that it has sold $20,000 to eligible Bureau De Change (BDC) operators at an exchange rate of ₦1590 per dollar to help alleviate the ongoing foreign exchange crisis in the country. This development was detailed in a circular signed by W. J. Kanya, the Acting Director of the Trade and Exchange Department, on Wednesday. The CBN stated that the move aims to provide liquidity to the foreign exchange market and meet retail demand for eligible invisible transactions such as personal and travel allowances, medical bills, and school fees. The CBN also directed BDCs…

In a landmark decision, Iwao Hakamada, an 88-year-old man and the world’s longest-serving death row inmate, was acquitted by a Japanese court after spending more than five decades on death row. Hakamada was initially convicted in 1968 for the quadruple murder of his boss, his boss’s wife, and their two children. However, new evidence questioning the integrity of the case has led to his retrial and exoneration. Hakamada was sentenced based on key evidence, including bloodstained clothes found in a tank of miso. Despite denying the charges, he later confessed under intense interrogations, which reportedly lasted up to 12 hours…

The naira continued its depreciation on Wednesday, falling to ₦1667.42 per dollar, down from ₦1658.48 on Tuesday, according to FMDQ data. This marks an ₦8.94 decline in just one day. In the past 48 hours, the naira has dropped by ₦104.76 at the official foreign exchange market. Meanwhile, in the black market, it weakened further to ₦1705 per dollar on Thursday, compared to ₦1675 on Tuesday. This is the first time in weeks that the naira has crossed the ₦1700 mark at the parallel market. This depreciation follows the Central Bank of Nigeria’s recent 27.25% interest rate hike, which is…

The Nigerian government has announced plans to impose more taxes on citizens and businesses, despite the ongoing economic challenges. This move is part of the government’s Economic Stabilisation Bills, approved by the Federal Executive Council earlier this week. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy Tax Reforms, revealed the plan in a statement on his official X account. The initiative, called “Tax Identification Consolidation and Collaboration (TICC),” is designed to expand Nigeria’s tax base and generate more revenue by widening the tax net. Oyedele stated that the plan is one of 15 proposed laws aimed at fostering…

US Vice-President Kamala Harris, aiming to strengthen her economic platform, promised to drive new investments in domestic manufacturing if elected president in November. Speaking in Pennsylvania, a key battleground state, Harris presented herself as a pragmatic capitalist, committed to uplifting the middle class through targeted initiatives. She outlined plans for $100 billion in tax breaks and incentives to support young families, first-time homebuyers, and the elderly, while emphasizing investments in artificial intelligence, aerospace, and energy. In contrast, Harris also highlighted the need for wealthier Americans and corporations to “pay their fair share,” proposing tax increases on the rich. She promised…