Hello and welcome! In today’s trending news stories;
1. The Ministry of Works has announced the commencement of compensation for property owners affected by demolitions along the Lagos-Calabar Coastal Highway corridor. This follows the launch of demolition activities attended by Minister David Umahi. Landmark Group, with over 80 businesses and 4,000 jobs, received a sudden eviction notice, causing tension and pleading for reconsideration. Though ‘the compensation committee,’ led by Engr. Olukorede Kesha claimed he was working to ensure prompt payments, businesses at Landmark Beach face uncertainty and potential closure due to the project. Despite claims by Umahi that only 15 meters of shoreline will be affected, many businesses have been affected, with staff members expressing sorrow and uncertainty about their future.
3. A high-level gathering hosted by Kenyan President William Ruto will convene African leaders to advocate for a substantial replenishment of the World Bank’s International Development Association (IDA) concessional lending arm. Vice President Kashim Shettima will be representing Nigerian President Bola Tinubu at the IDA21 Heads of State Summit in Nairobi, where he will be speaking on Nigeria’s vision for an ambitious IDA-21 financing package to drive development across Africa from 2024 to 2026. Shettima will discuss the strategic importance of IDA in realizing Nigeria’s economic transformation agenda, focusing on areas such as job creation, energy access, and human capital development. The summit will also discuss urgent priorities for IDA’s next three-year funding cycle, including building human capital, creating jobs, enhancing energy and digital access, fostering climate resilience, and promoting sustainable growth.
4. Over the weekend, the Nigerian naira strengthened slightly against the US dollar, breaking below the N1,300 resistance level at the parallel market, and settling at N1270-75. This marks a 10% increase compared to Friday’s close at N1,400. The naira’s quick gain followed a surge in demand for dollars in the parallel market, combined with slow forex disbursement to Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN). Currency dealers attribute the moderation in the naira’s bullish momentum to the CBN’s sluggish pace of disbursement. Meanwhile, the Economic and Financial Crimes Commission (EFCC) intensified its crackdown on currency speculators, arresting 34 alleged speculators and blocking 1,146 accounts linked to ongoing investigations for forex fraud. The Nigeria Senate’s Committee on Finance called for coordinated efforts to save and maintain naira stability.
5. Arsenal’s Martin Odegaard and Bukayo Saka channeled their team’s mental resilience after a hard-fought 3-2 victory over Tottenham on Sunday. Odegaard acknowledged the team’s ability to bounce back from setbacks, with Saka echoing this sentiment. He emphasized the squad’s growth in resilience, suggesting that in the past, such games might have ended differently. Both players stated the importance of their mindset and determination in securing crucial victories like the one against Tottenham.
6. Gospel singer Morenikeji Adeleke, also known as Egbin Orun, has passed away, as announced by her colleague Esther Igbekele on Instagram. Igbekele expressed deep sadness over the loss, describing Adeleke as a kind-hearted woman and a strong supporter. Despite the lack of details regarding the cause of death, tributes poured in, highlighting Adeleke’s impact and kindness. The Gospel Musicians Association of Nigeria has yet to issue an official statement on the matter.
7. Justin Bieber recently deleted a post on Instagram expressing frustration over his career’s perceived decline, blaming Wizkid for it. He regretted collaborating on the remix of Wizkid’s song “Essence” featuring Tems. Despite the remix’s success, Bieber feels it negatively impacted his career. Neither Wizkid nor Tems has responded to Bieber’s claims. “Essence” was a significant hit for Wizkid, contributing to his international recognition and earning accolades like Grammy nominations.
