Good morning! In today’s trending news stories;
1. The Supreme Court has scheduled 23rd October to hear three appeals challenging the judgment of the Presidential Election Petition Court affirming President Bola Tinubu’s election. Atiku Abubakar of the PDP, Peter Obi of the Labour Party, and the Allied Peoples Movement have filed appeals urging the Supreme Court to nullify the previous judgment based on claims of electoral fraud that were not substantiated during the initial trial.
2. Lagos and Ogun State Governors, along with business mogul Aliko Dangote, honored the late Chief Akintola Williams, Nigeria’s first indigenous chartered accountant, at his funeral service. Governor Sanwo-Olu praised Williams as a remarkable figure and emphasized his contributions to the nation, while Governor Abiodun highlighted his enduring legacy. The service was attended by prominent figures. The need to immortalize Williams through the Akintola Williams Centenary Building Project was upheld.
3. Mubasheer Olabode Agusto, founder of Agusto & Co, a Pan-African credit rating agency, has passed away at 68 due to significant health challenges. In a public letter, President Bola Tinubu expressed his profound sadness at his demise and acknowledged Agusto’s exceptional career. In his lifetime had played significant roles in esteemed institutions such as Citibank Nigeria, PriceWaterhouseCoopers (PwC), the National Pension Commission (PenCom), and the Central Bank of Nigeria.
4. Customers of the popular crypto and gift card trading platform, Patricia, which is currently facing a ₦2 billion debt crisis, have been offered share conversion amidst unclear talks on crypto partnerships. The situation has left them unable to withdraw their money for over six months. A controversial launch of Patricia Token (PTK) to repay the debts raised concerns of non-compliance with SEC guidelines. This has further added to customer frustration and uncertainty about fund accessibility.
5. On Thursday, the naira was traded between N1,150 and N1,155/dollar at the unregulated markets in Lagos and Abuja. At the official Investors & Exporters (I&E Window), it traded at N986 before closing at N782.68. The decline in value is creating significant challenges for businesses, manufacturers, and the overall economy. This has resulted in increased import costs, reduced profit margins, and limited access to foreign markets. The organized private sector urged the government to take measures to stabilize the naira, manage the exchange rate more effectively, and address issues such as forex backlog and liquidity in the market.
6. Inter Miami CF coach Gerardo “Tata” Martino has confirmed interest in signing veteran striker Luis Suárez this winter, amid the ongoing evaluation of the team’s needs for the upcoming season. Suárez’s departure from Grêmio in December seems imminent due to physical challenges, prompting talks of a potential move to the MLS club, which has recently made high-profile signings, including Lionel Messi. The team’s focus is now on planning for the upcoming season, with considerations for both Suárez’s potential inclusion and the existing striker situation.
7. Today marks the third anniversary of the incident that took place on October 20, 2020, during the #EndSARS protest in Lekki, Lagos. The Nigerian Armed Forces had shot at unarmed protesters which were predominantly young people. Recall that the #EndSARS was a protest that got the world’s attention against police brutality.
