Hello and welcome! In today’s trending news stories;
1. The Economic and Financial Crimes Commission (EFCC) intercepted 21 food trucks destined for neighboring countries, including Chad, Central African Republic, and Cameroon. The seizure occurred along major routes in Borno State, revealing concealed food items. The arrested suspects are under investigation and will be charged accordingly. The move aims to combat food insecurity exacerbated by smuggling activities. This action coincides with Nigeria’s high food prices and inflation, prompting protests. The government plans to distribute grains nationwide to mitigate the impact. President Bola Tinubu’s administration remains committed to reforms despite challenges, including floating the naira and ending subsidies.
2. Binance, facing regulatory pressure in Nigeria, announced it will discontinue all naira services by March 8, 2024. Users’ NGN balances will be converted to USDT, with withdrawals halted after the specified date. This follows accusations of manipulating the naira’s value against the dollar. Despite Binance’s assertions of not influencing foreign exchange rates, Nigerian authorities have sought to restrict its operations, including detaining executives and demanding user lists. The move has prompted users to explore alternative platforms for peer-to-peer crypto transactions. Despite the crackdown, Binance assures users of continued functionality for other cryptocurrencies and services.
3. Concerned Edo Citizens have blocked the Auchi axis of the Benin – Ekpoma – Auchi – Abuja Highway for the second day, protesting the abandonment of reconstruction work initiated in 2013. Mobilizing residents and road users, they obstructed the road at Jattu Junction with canopies, bonfires, and cooked food. The truck drivers union joined in, exacerbating traffic congestion. Last year, a similar protest prompted rehabilitation efforts by the Federal Ministry of Works, but recent complaints suggest that allocated funds are insufficient. The blockade has caused inconvenience, affecting adjoining roads and streets. A Federal Polytechnic lecturer in Auchi expressed frustration over the ongoing hardship and criticized the government’s failure to complete the road construction initiated nearly a decade ago.
6. Meta CEO Mark Zuckerberg’s net worth decreased by almost $3 billion in one day following a global outage affecting Facebook and Instagram. Despite this, he remains the world’s fourth-richest person. The outage lasted approximately one hour, affecting not only Facebook and Instagram but also Meta Quest and YouTube. Elon Musk, owner of social media platform X, took the opportunity to mock Meta during the outage.
7. US Vice President Kamala Harris expressed concern over humanitarian conditions in Gaza, while the World Health Organization reported children dying of starvation in Gaza hospitals. Talks for a Gaza ceasefire and hostage release continue, with Egypt and Qatar facilitating negotiations. US President Joe Biden urged Hamas to accept a ceasefire deal by Ramadan. Meanwhile, Israel faced criticism as famine threatens Gaza, with aid efforts ongoing. The UN published a report alleging sexual assault by Hamas militants during the conflict, causing tensions with Israel. Regional tensions persist, with ongoing violence involving Hezbollah in Lebanon and Houthi rebels in Yemen.
