Author: Akintayo Adams

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The Central Bank of Nigeria (CBN) has projected a reduction in Nigeria’s external reserves before the end of 2024. This was contained in the recently released maiden edition of its ‘Macroeconomic Outlook: Price Discovery for Economic Stabilisation’ report. The apex bank attributed the projected deep in the country’s reserves to debt service and other obligations. The outlook said, “The external reserves, which stood at $33.09bn in 2023 could reduce slightly in 2024. This is on the assumption of continued payments of outstanding foreign exchange forward obligations, matured foreign exchange swaps, and debt service. The expected improvement in crude oil earnings,…

Former President of the US and Presidential Candidate of the Republican, Donald Trump, has promised to be at the forefront of ‘the largest deportation operation in the history of the United States of America’. Trump said this while addressing Republican supporters on Thursday after he formally accepted his nomination. He noted that the GOP platform proposes “the largest deportation operation in the history of our country”. Former President Trump said that crime is dropping in Central American countries such as El Salvador because “they’re sending their murders to the United States of America.” Trump, who recently survived an assassination attempt,…

The Naira appreciated significantly at both official and foreign exchange black markets on Thursday after President Bola Tinubu and the Organised Labour’s ₦70,000 new national minimum wage agreement. According to a Daily Post report, Bureau De Change operators in Wuse Zone 4 Area of Abuja said the naira appreciated on Thursday evening to ₦1,565 per dollar from ₦1,615 per dollar on Wednesday. “As of Thursday evening, the dollar is sold for ₦1565 against ₦1615 on Wednesday,” he said. Similarly, at the official FX market, the Naira appreciated to ₦1,566.92 per dollar on Thursday. FMDQ data showed that the Naira appreciated…

The President of the Nigeria Labour Congress (NLC), Joe Ajaero, says the Organised Labour had an agreement with President Bola Ahmed Tinubu on the payment of ₦250,000 as the new minimum wage. However, they rejected a proposal by President Bola Tinubu to pay ₦250,000 minimum wage and increase petrol prices. Ajaero made this known on Channels Television’s Politics Today programme on Thursday shortly after Labour met with the President in Abuja. “Accepting ₦70,000 was the best way to save Nigerians from further hardship,” he said. “At last week’s meeting, the President brought a proposal that ‘I will give you guys…

Manchester United exciting youngster, Mason Greenwood has left the club to join Olympique Marseille in France. He did after a few turbulent months. The announcement of his departure was made by Manchester United via a post on their official website. “Mason Greenwood has left Manchester United and joined French club Olympique de Marseille on a permanent transfer,” it read. “The 22-year-old English forward, who spent last season on loan at Getafe in Spain, made 129 appearances and scored 35 goals for United after making his debut in 2019. “We wish Mason all the best in his future career.” He spent…

George Ogunde, the first child of the legendary theatre pioneer Hubert Ogunde, has passed away. The news was shared by his sister, Dayo Ogunde, in a Facebook post on Thursday. “It’s hard to say goodbye Brother mi, our first child in the Ogunde clan. But we take solace in the fact that you are in a better place,” it read. “You were such a wonderful and friendly soul. May your soul continue to rest in the bosom of your maker. “Goodnight George Ogunde. “Omo Gbegande Esiwu Ijoku,” Dayo Ogunde wrote. George Ogunde, like his late iconic father, was also a theatre…

The Nigeria Labour Congress (NLC) President, Joe Ajaero, explained on Thursday why the Organized Labour accepted President Bola Tinubu’s proposal of a ₦70,000 minimum wage. Speaking to State House reporters after the meeting, Ajaero cited additional incentives attached to the offer and the President’s promise to review the minimum wage every three years, a significant improvement over the past practice. The new minimum wage when approved by the National Assembly will replace the ₦30,000 minimum wage which expired on April 18, 2024. President Bola Ahmed Tinubu and Leaders of the Organised Labour agreed on a ₦70,000 Minimum Wage on Thursday.…

The Sèyí Mákindé-led Oyo State government has denied any involvement in rumored plans to obstruct anyone’s ambition to become the next Olubadan. This was contained in a statement issued by the Commissioner for Information and Orientation, Dotun Oyelade. “It is embarrassing that a few days after the coronation and presentation of Staff of Office to the new Olubadan, HIM Oba Owolabi Olakulehin, Ige Olakulehin I, some citizens are already looking over the shoulders of the new Oba and ascribing the government gazette that implemented the recommendation of the Ibadan Chieftaincy Review Committee to a ploy to disqualify certain individuals,” the…

The Federal Government of Nigeria, through the Minister of Information Mohammed Idris says the Federal Government and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers. The minister said the agreement was reached at a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Thursday in Abuja. “We are happy to announce today (Thursday) that both the Organised Labour and the Federal Government have agreed on an increase on the N62,000 minimum wage. The new national minimum that Mr…