Hello and welcome! In today’s trending news stories;
1. The Economic and Financial Crimes Commission (EFCC) conducted another raid on Monday at the popular Bureau De Change (BDC) market in Zone 4, Abuja, targeting operators accused of supporting naira speculators. The EFCC used firearms to disperse BDC operators and halt their trading activities, possibly in response to the urgent need to stabilize the naira amid its drastic decline. On Monday, the parallel foreign exchange market witnessed the naira hitting a notable low of N1,730 per dollar, marking an 8.13 percent drop from February 16, 2024. Currency traders reported buying and selling prices of N1,700 and N1,730 for the dollar, respectively, with a profit margin of N30. While the exact impact of the EFCC’s raid on the naira’s value remains uncertain, it reflects efforts to influence the currency’s worth. This action by the EFCC echoes past interventions by the Central Bank of Nigeria (CBN) in 2021, targeting platforms like Aboki FX for allegedly manipulating the naira’s value. As stakeholders await further developments, there is hope for measures to restore stability to Nigeria’s currency amid ongoing economic challenges.
2. Ghanaian player Inaki Williams is very close to scoring his 100th goal for Athletic Bilbao, his hometown club. He recently scored his 96th goal in a match against Girona in La Liga. Since he started playing professionally for Bilbao in 2014, Williams has been amazing. He’s played over 400 games and scored 73 goals in La Liga, mostly while playing on the wings instead of his usual position as a center forward. Despite this, he’s been really good. He’s already scored nine goals this season and looks set to score more before the end of the season. Williams has a contract with Bilbao until 2028, so he has plenty of time to become one of the club’s top goal-scorers. Right now, Telmo Zarra holds the record with 335 goals. That’s going to be tough to beat, but Williams is definitely on his way to becoming one of Bilbao’s best-ever strikers.
3. The Abuja Electricity Distribution Company (AEDC) has issued a 10-day ultimatum to 86 government agencies, including the presidential villa and various ministries, departments, and agencies (MDAs), to settle a combined debt of over N47 billion by December 2023 or face disconnection from grid power. The Chief of Defence Staff Barracks and Military Formations tops the list with over N12 billion owed, followed by the Ministry of the Federal Capital Territory with N7.5 billion. The Ministry of Finance, Niger State Governor-Abuja Liaison Office, and others also owe significant amounts. A notice published by AEDC warns of disconnection if debts are not settled by February 28, 2024. This move comes amid ongoing challenges faced by electricity distribution companies in revenue collection, with total collections falling short of billed amounts according to Nigerian Electricity Regulatory Commission reports.
4. The Federal High Court in Abuja has issued a restraining order against the Minister of Federal Capital Territory (FCT), Nyesom Wike, and the Federal Capital Development Authority (FCDA), preventing them from interfering with the Centenary Economic City Free Zone along Airport Road, Abuja. The judge, Inyang Ekwo, also prohibited the FCT Administration and Arab Contractors (OAO) from encroaching further on the site. The court nullified all executive actions taken without the consent of the plaintiffs and NEPZA, citing constitutional and statutory violations. Additionally, the judge ordered Arab Contractors to vacate the occupied portion of the Free Zone and pay N100 million for damages caused to the master plan. The Centenary Economic City Free Zone had sued various defendants, alleging unauthorized encroachment and destruction of their property. The court ruled in favor of the plaintiffs, citing constitutional and statutory provisions supporting their claims.
5. A tragic incident unfolded at Obafemi Awolowo University (OAU) involving a veteran staff member, Olabode Olawuyi, and a nine-year-old male lion under his care in the Zoological garden. Olawuyi, who had overseen the lions for over a decade, was fatally attacked while feeding the animal and its companions. Despite rescue efforts by colleagues, Olawuyi sustained severe injuries and ultimately succumbed to them despite medical attention. In response, the university promptly euthanized the aggressive lion involved. Olawuyi had nurtured the lions since their birth on campus nearly a decade ago. The university administration, under Vice-Chancellor Adebayo Simeon Bamire, expressed condolences to Olawuyi’s family and initiated a thorough investigation into the circumstances surrounding the tragic incident.
6. Men from the Lagos State Emergency Management Authority (LASEMA) came to the aid of a heavily pregnant woman who unexpectedly went into labor while waiting for a bus at Onipanu in Somolu Local Government Area. The incident occurred around 9:30 am as residents were heading to work. Bystanders rushed to help the woman, who had collapsed due to labor pains. LASEMA paramedics called through the emergency hotline, arrived swiftly and, with the help of market women, facilitated the safe delivery of a baby boy. Permanent Secretary of LASEMA, Dr. Femi Oke-Osanyitolu, praised the prompt response and medical assistance provided by the officers.
7. Nollywood actress Mercy Aigbe has called on Seyi Tinubu, son of President Bola Tinubu, to intervene with his father on behalf of Nigerians, urging urgent action to address the severe economic hardship. Aigbe’s plea follows Seyi Tinubu’s encouragement for Nigerians to endure the current challenges with hope for future economic reforms.
