Hello and welcome! In today’s trending news stories;
1. Nigeria’s President Tinubu has initiated the distribution of 42,000 metric tonnes of food from the National Strategic Food Reserve to alleviate rising food prices. The distribution began recently, with the federal government flagging off the initiative in Sokoto state. The grains, including maize, sorghum, millet, and garri, are being distributed to vulnerable Nigerians across various states to cushion the effect of rising food prices. Additionally, in Ondo State, the distribution of 1,200 tonnes of palliative grains to livestock farmers across the 18 local government areas has commenced as well.
2. In a significant development, the EFCC has recovered N30 billion for the Federal Government and is investigating 50 bank accounts in the probe of the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, and the former CEO of the National Social Investment Programme Authority, Halima Shehu. Recall that President Bola Tinubu took action against both officials approximately three months ago, citing allegations of financial misconduct.The EFCC chairman Ola Olukoyede, emphasized the complexity of the investigation, urging patience from Nigerians.
3. Omobayo Godwins, aged 38, has been sworn in as the new Edo State Deputy Governor, replacing Philip Shaibu, who was removed from office by the state House of Assembly. The Chief Judge of Edo State, Daniel Okungbowa, administered the oath of office at the Government House in Benin. Godwins, appointed by Governor Godwin Obaseki, hails from Akoko-Edo Local Government Area and has a background in engineering with professional experience in the oil and gas sector. In his acceptance speech, he expressed gratitude to Governor Obaseki and pledged allegiance to him and the Peoples Democratic Party (PDP), vowing to fulfill his duties with dedication and integrity.
4. Saudi Arabia announced that the crescent of Shawwal was not sighted, indicating that fasting would continue on Tuesday, with Eid-El-Fitr to be celebrated on Wednesday, April 10. The announcement was made on Haramin’s official Facebook page. Sultan of Sokoto, Saad Abubakar, confirmed the decision, following reports from National Moon Sighting Committees across Nigeria as stated in a release signed by Sambo Junaidu, Chairman of the Advisory Committee on Religious Affairs to the Sultanate Council.
5. The Central Bank of Nigeria (CBN) has prohibited the use of foreign currency-denominated collaterals for naira loans, except for Eurobonds issued by the Federal Government or guarantees of foreign banks. This directive, issued in a circular dated April 8, 2024, by CBN’s Acting Director of Banking Supervision Department, Adetona Adedeji, requires loans secured with dollar-denominated collaterals other than the mentioned exceptions to be wound down within 90 days. Additionally, the CBN announced the sale of dollars to over 1,500 Bureau De Change operators to meet retail market demand for eligible transactions, with each operator receiving $10,000 at the rate of N1,101/$1.
