Author: Akintayo Adams

The Trade Union Congress (TUC) has reacted to President Bola Tinubu’s jab, in which he advised labor unions to cease their demonstrations and hold off on entering politics until 2027. At the Lagos Red Line project’s inauguration on Thursday, the President reminded the labor unions that they are not the sole voice for Nigerians and asked them to keep the peace. However, in response to the President’s comments on Channels Television’s Politics Today on Friday, TUC President Festus Osifo stated that union members have the freedom to demonstrate and that they are not politicians. “I listened to that comment yesterday…

In a much-anticipated move, the Nigerian Army has officially released its recruitment list, marking a significant milestone in the journey of aspiring soldiers across the nation. This announcement comes after weeks of eager anticipation since the initial call for applications was made. Recruitment Commencement: A Look Back The journey began several weeks ago when the Nigerian Army opened its doors to eager individuals keen on serving their nation. The call for applications spread far and wide, attracting a diverse pool of talented individuals from various walks of life. As news of the recruitment drive circulated, thousands of hopefuls took the…

Hundreds of prisoners at the Jos Correctional Centre demonstrated on Friday against the facility’s administrators’ intentions to cut back on their intake of rice and beans due to rising costs for basic necessities. The officer in charge of feeding the prisoners had gathered them together to let them know about the conversation they had with the contractor who supplied their food on the rise in market prices for food items and the decision to cut back on their rice intake from four times a week to twice a week. The detainees were reportedly incensed by this revelation, and as a…

When the Central Bank of Nigeria’s regulation on banning accounts without Bank Verification Numbers and National Identification Numbers goes into effect, over 70 million bank customers could lose access to their accounts. In a circular dated December 1, 2023, the CBN ordered that all bank accounts without the BVN and NIN be subject to a “Post no Debit” restriction starting on Friday, March 1, 2024. The directive, which was jointly signed by Haruna Mustapha, the director of financial policy and regulation, and Chibuzo Efobi, the director of payments system management department, stated that “having a BVN and/or NIN is required…

For the second quarter of 2024, the Central Bank of Nigeria has announced that it will offer Treasury bills valued at N1.64 trillion. This was announced by the top bank in the Treasury Bills Issue program that was made public on Friday. The Central Bank of Nigeria (CBN) uses Treasury bills, which are short-term (less than a year) debt instruments, to borrow money from the public on behalf of the federal government. To regulate the amount of money in the economy, the CBN also employs TBs. The campaign will begin on March 7 and run until May 23, 2024. The…

Claims that the cryptocurrency behemoth Binance Holdings Ltd. is in talks with the Nigerian authorities about possible fines of up to $10 billion have been denied. This runs counter to what Bayo Onanuga said earlier in a Friday interview with the BBC. Onanuga, President Bola Tinubu’s special adviser on information and strategy, claimed later that the media had misconstrued his remarks when they stated that the Nigerian government had fined Binance $10 billion in an effort to preserve the value of the naira. This was reported by the BBC on Friday. According to a Binance official quoted by Pressmen, “We…

4,173 Bureaux De Change Operators had their licenses withdrawn by the Central Bank of Nigeria (CBN), which cited noncompliance with regulations as the reason for the action. Sidi Ali Hakama, the bank’s acting director of corporate communications, made this revelation in a statement on Friday. The action is a component of attempts to rebuild trust in the country’s foreign exchange market, according to the central bank. The CBN stated that it is updating the regulatory and supervisory rules for Bureau de Change activities in Nigeria, noting that the list of impacted BDC operators is published on its website. It further…

Five projects under phase one of the Presidential Power Initiative (PPI) have been inaugurated by Chief Adebayo Adelabu, Minister of Power. These projects are located in Okene, Kogi State; Amukpe, Delta State; Potiskum, Yobe State; Apo in Abuja; and Ihovbor, Edo State. The first phase of the PPI aims to increase Nigeria’s wheeling capacity by 272 megawatts, which will result in a more reliable supply of energy to all of the country’s users. Adelabu stated that the four further sites were being remotely inaugurated by the federal government as he was speaking at the commissioning of the 60 MVA power…

Jose Peseiro, a Portuguese manager, has announced his resignation from the Super Eagles after his contract officially ended on Thursday. Peseiro, who guided the Eagles to a second-place result at the 2023 African Cup of Nations, expressed his satisfaction in his role as coach of the West African country. “Yesterday, we concluded our contract with the NFF. It was a pride and honor to coach the Super Eagles. It has been 22 months of immense dedication, sacrifice, emotion, and enormous enthusiasm. We feel a sense of fulfillment. “We would like to express our gratitude to Sir Amaju Pinnick (the president…

The 2012 Steve Oronsaye Report was deemed out of date by the House of Representatives on Thursday, and President Bola Tinubu was urged to carefully examine it before implementing its recommendations. As a result, the House established a 23-member committee led by House Leader Julius Ihonvbere to suggest suitable actions to lessen the probable effects of the Oronsaye Report study. In an effort to reduce the cost of governance, the Oronsaye study suggests merging ministries, departments, and agencies. The Federal Government has announced preparations to put this recommendation into action on Monday. The Presidential Committee on Rationalization and Restructuring of…