Hello and welcome! In today’s trending news stories;
1. Siminalayi Fubara, the governor of Rivers State, announced plans to establish a judicial panel to investigate past administrations’ management of state resources. The announcement came during the swearing-in of Dagogo Iboroma as the state’s attorney-general and commissioner for justice. Fubara emphasized the need for accountability and urged Iboroma to defend the people with integrity. Fubara’s tenure as governor follows a period of political turmoil, marked by disagreements with his predecessor, Nyesom Wike. The Rivers House of Assembly has been divided, with members defecting and factions forming. Recently, a court injunction restrained certain assembly members from acting as legislators, reflecting the ongoing political tensions in the state.
2. Former Vice President Atiku Abubakar met with 2023 Labour Party presidential candidate Peter Obi in Abuja on Monday, as revealed in a tweet by Atiku. The meeting also saw former Jigawa State Governor Sule Lamido and former Senate President Bukola Saraki. According to a statement from Obi’s spokesman, Yunusa Tanko, the visits focused on discussing the nation’s current state, particularly the conditions of the poor and underprivileged. Obi emphasized his commitment to a Nigeria that works for all its citizens and aims to alleviate poverty. The meetings also addressed the dire situation in the northern parts of the country.
3. The Federal Capital Territory Administration (FCTA) has issued a 24-hour demolition notice for 500 unauthorized markets and makeshift structures along the Karmo – Dei-Dei Road in Abuja. Assistant Director Garba Jibril announced this after an operation led by the Department of Development Control. Director Mukhtar Galadima previously met with stakeholders, emphasizing that the demolition is needed to reduce traffic congestion and disturbances, particularly on market days, and the presence of traders. Traders have been directed to relocate to the equipped Karmo Market but have resisted despite several meetings and offered incentives. The FCTA hopes the demolition will facilitate their relocation and improve traffic flow.
4. Nigeria’s Central Bank Governor, Olayemi Cardoso, revealed he is sticking to orthodox monetary policies by maintaining high interest rates to combat inflation despite the naira’s renewed pressure. In an interview with the Financial Times, Cardoso highlighted key policy actions and figures. The Central Bank of Nigeria (CBN) has raised interest rates by a total of 600 basis points this year, bringing the key lending rate to 24.75%. This is intended to narrow the negative real returns on naira assets and tame inflation. Cardoso also allowed the naira to trade more freely in the official market and resumed dollar sales to the Bureau de Change (BDCs) which led to a temporary strengthening of the naira, making it the best-performing currency globally in March, although it has since weakened significantly. Cardoso stressed the need to maintain high interest rates for as long as necessary to bring down inflation, which remains high at 33.2%, the highest in three decades. Food inflation is even higher at 40%.
5. The Nigeria Football Federation introduced Finidi George, a former Ajax star, as the new coach of the Super Eagles. Although appointed two weeks prior, the specifics of his contract were not initially disclosed. However, Finidi officially signed his contract during the event where he was unveiled by NFF President Ibrahim Gusau and Sports Minister John Enoh. Assisting Finidi will be his former Super Eagles teammate Daniel Amokachi, along with Benjamin James and Mehmet Ozturk. Additionally, Chima Onyeike, a fitness trainer based in the Netherlands, will support him. There are indications that Finidi has been offered a one-year contract for his role. He is now tasked with preparing the Super Eagles for the upcoming 2026 World Cup qualifiers against South Africa and Benin.
