advertise with us
Home Blog Page 154

Naira slips against dollar at official FX market

0

 

The Nigerian naira weakened against the United States dollar at the official foreign exchange market on Monday, opening the week on a bearish note.

Data from the Central Bank of Nigeria (CBN) showed that the naira depreciated to N1,390.36 per dollar on Monday, compared with N1,386.55 recorded at the close of trading last Friday.

This represents a depreciation of N3.81 against the dollar within one trading session.

At the parallel market, however, the naira remained stable, exchanging between N1,460 and N1,470 per dollar on Monday, the same rate recorded on Friday, according to checks with Bureau de Change operators in Wuse Zone 4, Abuja.

The latest development comes after the naira posted a notable appreciation across both the official and black markets at the close of trading last week.

Meanwhile, CBN data indicated that Nigeria’s external reserves stood at $46.18 billion as of January 29, 2026.

Transfer: Ronaldo’s release clause emerges amid uncertainty over Al Nassr’s future

0

Cristiano Ronaldo’s future at Al Nassr has been thrown into uncertainty following reports that the forward has a release clause in his contract.

The 40-year-old Portugal captain was absent from Monday’s Saudi Pro League clash against Al Riyadh, with reports suggesting he is currently on strike amid growing dissatisfaction at the club.

Ronaldo is said to be weighing his options ahead of June, with a possible move to Major League Soccer (MLS) or a return to Europe under consideration.

According to reports, the former Manchester United and Real Madrid star has a €50 million release clause written into his Al Nassr deal.

Sources claim Ronaldo is unhappy with the role of Saudi Arabia’s Public Investment Fund (PIF), which acquired majority stakes in Al Nassr, Al Hilal, Al Ittihad, and Al Ahli in 2023. The five-time Ballon d’Or winner reportedly believes the sovereign wealth fund has limited Al Nassr’s ability to strengthen their squad, a situation he feels has reduced the club’s chances of competing effectively for the league title.

Kwankwaso, Ganduje: ‘Buhari made Abba Yusuf Kano governor in 2023’—Buba Galadima

0

A chieftain of the New Nigeria Peoples Party (NNPP), Buba Galadima, has claimed that former President Muhammadu Buhari played a decisive role in ensuring that Abba Kabir Yusuf emerged as Governor of Kano State in the 2023 elections.

Galadima, who is the secretary of the NNPP Board of Trustees, said Buhari intervened to prevent the party’s victory from being taken by the All Progressives Congress (APC), as he alleged happened in the 2019 polls.

Speaking on Arise News, Galadima stated that Buhari, contrary to public perception, was instrumental in safeguarding the NNPP’s mandate in 2023.

“Unknown to many Nigerians, it was General Buhari who took our victory in 2019 and gave it to Ganduje,” Galadima said. “General Buhari was also the architect of making Abba Kabir Yusuf the governor of Kano State.”

He alleged that while Buhari allowed the NNPP’s mandate to be taken in 2019, he refused to permit a repeat in 2023, insisting that Yusuf’s victory be upheld.

 

“God worked through Buhari to make sure that the victory we obtained was not stolen in 2023, as they allegedly did in 2019,” he said.

Galadima further claimed that Buhari’s decision was influenced by his strained relationship with former Kano State Governor Abdullahi Ganduje.

 

“It was Ganduje, using his own words, who abused Buhari,” Galadima alleged. “Even though Buhari took our victory and gave it to him in 2019, he later insulted him indirectly by calling him Abuna Abu.”

He explained that “Abuna Abu” is a derogatory term popularized in a song by the late Hausa musician, Alhaji Muhammadu Shata, describing a reckless drunkard.

 

“That was who Ganduje referred to without mentioning Buhari’s name, and Buhari felt bitter,” Galadima said.

According to him, when attempts were allegedly made to overturn Yusuf’s 2023 victory, Buhari resisted.

“Buhari put his foot down and said, ‘That boy won the election in 2019; we took it away. Now he has won again; give him his victory,’” Galadima stated.

He also made allegations of judicial intimidation during the 2019 election litigation, claiming that judgments were manipulated and courts pressured.

“They abducted tribunal members, brought them to Abuja, and gave them a written judgment,” he alleged. “We lost at the Court of Appeal after intimidation. At the Supreme Court, three out of five justices said they would not cause a bloodbath in Kano.”

 

Galadima said the courts and Buhari eventually ensured justice prevailed in 2023.

 

“This time, there could be no alibis to injustice,” he said. “Abba Yusuf was made governor of Kano through the processes of the court and through the assistance of Buhari.”

He concluded by warning against relying on political power rather than divine justice, saying, “This means that God was at work. Anybody who thinks power can override God’s justice is making a grave mistake.”

Recall that after Gov. Yusuf’s defection to APC, he fell out with Rabiu Kwankwaso, the former governor of the state.

Recently Kwankwaso declared that Yusuf may have lost his re-election bid after Ganduje raised his hands as APC leader.

EPL: Man City name three managers to replace Pep Guardiola

0

Manchester City have reportedly identified three potential managers to replace Pep Guardiola amid growing speculation over his future at the club.

According to the UK Telegraph, there is increasing belief that Guardiola could leave the Etihad Stadium at the end of the current season, prompting City to begin planning for a possible transition.

 

Although the Spaniard’s contract runs until 2027, reports suggest he may choose to walk away as early as May.

 

Former Real Madrid manager Xabi Alonso is said to be among the candidates under consideration. He is joined on the shortlist by ex-Chelsea boss Enzo Maresca, who previously informed the Blues on two occasions that he was in discussions with Manchester City.

 

Also on the city’s radar is Como head coach Cesc Fabregas. The former Arsenal and Barcelona midfielder has impressed in Serie A, with his side currently sitting sixth and pushing for European qualification.

 

City are understood to be taking a proactive approach as uncertainty continues to surround Guardiola’s long-term plans.

140m Nigerians may fall into poverty by 2026 despite Tinubu’s reforms—Economist

0

Franklin Ngwu, an economist has warned that Nigeria’s poverty rate could worsen significantly by 2026, with as many as 140 million citizens likely to be classified as poor despite the economic reforms introduced by President Bola Tinubu.

Ngwu, Director of the Public Sector Initiative at Lagos Business School, made the projection during an interview on ARISE Television’s Prime Time on Monday, citing rising unemployment, growing debt, and increasing poverty levels as major concerns.

 

Ngwu acknowledged that Nigeria needed economic reforms but questioned the manner in which they were implemented, particularly the removal of fuel subsidy and the floating of the foreign exchange market.

 

“I think the way to look at it is maybe to look at key economic indicators before and after. But in terms of did we need reform? Yes, we needed reforms,” he said. “Another issue is the way the reforms were implemented, basically looking at fuel subsidy removal and then foreign exchange.”

 

He noted that while some indicators show improvement, others are deteriorating. According to him, unemployment continues to rise, poverty levels are increasing, and public debt is growing, even as government revenue improves and inflation is reportedly easing following a rebasing exercise.

 

“So if we look at key economic indicators, like unemployment, how are we doing at the moment? It’s rising. Poverty—is it going down or going up? It’s increasing. Debt—is it going up or going down? It’s increasing,” Ngwu stated.

 

Although inflation has been rebased and is said to be declining to about 15 percent, Ngwu stressed that the real test of the reforms lies in how ordinary Nigerians experience them.

 

“The main thing is how do ordinary Nigerians see, perceive, and feel about these reforms? And the two key areas will be poverty and unemployment,” he said.

Labour Party crisis deepens as Abure faction rejects Gov Otti’s reconciliation call

0

The internal crisis rocking the Labour Party (LP) escalated on Monday after the Julius Abure-led National Working Committee (NWC) rejected reconciliation efforts initiated by Abia State Governor, Dr Alex Otti, describing the move as insincere and premature.

The Abure faction insisted that the leadership dispute within the party remains unresolved, noting that the legal process is still ongoing and has not been exhausted. It further accused Governor Otti of playing a major role in igniting the crisis currently plaguing the party.

Speaking on the matter, the party’s National Publicity Secretary, Obiora Ifoh, dismissed Otti’s reconciliation proposal, questioning its timing and motive.

“We are not interested in any reconciliation move being proposed by Governor Alex Otti because he is largely responsible for the crisis facing the party today,” Ifoh said.

He argued that the call for reconciliation was premature, stressing that the court ruling being celebrated by the opposing faction was delivered by a court of first instance and is already under appeal.

“What we witnessed was a decision of a lower court. Why can’t he wait for the outcome of the appeal before talking about reconciliation?” he asked.

Ifoh accused Otti of acting hastily and expressed confidence that the Abure-led leadership would ultimately prevail.

“Why is he suddenly in a rush? As far as we are concerned, their celebration is a pyrrhic victory. It will soon fade, and Nigerians will see the authentic leadership of the Labour Party. The battle is far from over,” he stated.

The rejection underscores the deepening divisions within the party despite recent court rulings and the Independent National Electoral Commission’s (INEC) decision to recognise the Nenadi Usman-led National Caretaker Committee.

The Abure camp’s reaction came just hours after Governor Otti expressed concern over the exit of the party’s former presidential candidate, Peter Obi, describing his departure as a major setback for the Labour Party.

Otti made the remarks in Abuja during a meeting attended by members of the party’s Board of Trustees, leaders of the National Caretaker Committee, and representatives of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

 

The meeting followed INEC’s recognition of the Nenadi Usman-led caretaker committee, a move earlier criticised by the Abure faction as rushed and prejudicial.

 

Addressing stakeholders, Otti said the new leadership was committed to healing internal rifts and restoring unity following its court victory.

 

“We have agreed that there is a need to establish a reconciliation committee. The interim National Working Committee will advise on the appropriate time to set it up. The goal is to reconcile all members who are willing to return,” he said.

 

He also appealed directly to the Abure-led faction to reconsider its stance.

 

“We call on Julius Abure and his team to sheathe their swords and return to the party. As long as they are willing to abide by the party’s rules, we will gladly welcome them back,” Otti added.

 

The Abia governor further disclosed that the Labour Party would not participate in the forthcoming Federal Capital Territory (FCT) area council elections and ruled out joining any opposition coalition ahead of the 2027 general elections.

 

“Labour Party is already a coalition — a coalition of Nigerian workers and progressive-minded citizens. We have no intention of joining any other coalition,” he said.

 

Otti also commended INEC for complying with the Federal High Court judgment by replacing the Abure-led executive committee with the Nenadi Usman-led National Caretaker Committee on its official portal.

 

 

I am interested in Oyo PDP—Wike dares Seyi Makinde

0
Wike Minister of FCT

The Minister of the Federal Capital Territory, Nyesom Wike, has said he is keeping a close watch on the Peoples Democratic Party (PDP) in Oyo State, stressing that his interest is driven by the need to protect the party’s future.

Wike made the remark on Monday in Abuja while speaking at the PDP’s 105th National Executive Committee (NEC) meeting.

According to him, his attention to the situation in Oyo State is rooted in his commitment to the survival and continued relevance of the PDP, which once governed at the federal level.

“I want to state my interest very clearly. I am interested in the survival and success of this party, and I am also interested in everything happening in the Oyo State PDP. That is all I am interested in,” Wike said.

The former Rivers State governor also dismissed claims that members of the party were being intimidated, arguing that such allegations had lost credibility following recent court rulings.

“Who will intimidate us to the end? Some of us, by the grace of God, do not see what anyone can threaten us with. The legal battle has collapsed. They have no option but to recognize the Caretaker Committee,” he added.

Wike’s comments come amid a lingering rift with Oyo State Governor Seyi Makinde, as both leaders now belong to opposing factions within the party.

The disagreement dates back to November last year, when a faction led by Makinde and Bauchi State Governor Bala Mohammed conducted a national convention that was later nullified by an Oyo State High Court.

Transfer deadline: Barcelona announces deals for two players

0

Barcelona on Monday confirmed that young defender Andrés Cuenca has joined Sporting Gijón on loan until the end of the season.

Before completing the move, Cuenca extended his contract with the Catalan club by an additional year. The 19-year-old, who is a product of Sevilla FC’s youth academy, made his senior debut for Barcelona on October 1, 2024, featuring in a UEFA Champions League clash against Young Boys.

In a separate statement, Barcelona also announced the signing of defender Patricio Pacifico on loan from Defensor Sporting Club for the remainder of the current campaign. The agreement includes an option for Barcelona to make the transfer permanent at the end of the season.

Pacifico, known for his versatility across the backline, can operate as both a full-back and a centre-back. He is expected to feature for Barça Atlètic during the second half of the season.

2027: Support me not Atiku, others- Peter Obi to Nigerian voters

0

Former Anambra State governor and chieftain of the African Democratic Congress (ADC), Peter Obi, has declared his intention to seek the party’s presidential nomination ahead of the 2027 general elections.

Obi made this known while addressing supporters at a campaign rally for the ADC candidate in the Abuja Municipal Area Council (AMAC) election in the Federal Capital Territory.

In his remarks, Obi made it clear that he is aiming for the party’s top ticket and has no intention of playing a secondary role in its long-term political plans. He described the AMAC election as a strategic part of his broader political ambition and urged party members and residents to rally behind the ADC candidate.

According to him, victory in the AMAC poll would significantly strengthen his political journey, stressing that his participation in the coming elections is as a principal contender, not a supporting figure.

Meanwhile, Obi’s supporters, particularly members of the Obidient Movement, have intensified calls on the ADC leadership to adopt him as the party’s presidential standard-bearer for 2027, insisting that the ticket should be reserved for him.

However, the ADC is also reportedly home to other prominent politicians with presidential ambitions, including former Vice President Atiku Abubakar and former Minister of Transportation, Rotimi Amaechi.

“This coming election, support us in AMAC; it will help me. Your support in AMAC is critical to our journey. I am involved and contesting the coming election as number one. When I come back, you will see. I assure you,” Obi said.

Nigerian Newssphere reports that Atiku Abubakar, Amaechi, and ex-Rivers governor plan to clinch the ADC presidential ticket o ADC ahead of Peter Obi.

Sit-at-home: Onitsha main market reopens with low turnout by traders, residents

0

Most markets especially Onitsha main market recorded low turnout despite the official reopening directive by Anambra State Governor Prof. Chukwuma Soludo on Monday.

As early as 6 a.m., streets across parts of the state were largely deserted, with minimal vehicular movement and school buses seen without pupils.

Situation report revealed that the disputed Onitsha Main Market was opened, but only a handful of traders reported for business. Many shops remained under lock and key, leaving large sections of the market deserted. In some areas, traders gathered outside their shops but appeared hesitant to open, citing fears of possible attacks.

A trader who spoke with our correspondent at Lagos Line in the Onitsha Main Market said traders were required to sign an attendance register and record their clock-in time to show compliance with the governor’s directive.

Some traders, however, blamed the governor for the low turnout, arguing that the sit-at-home order had been gradually losing effect before the new directive allegedly emboldened separatist elements who had threatened those defying the order.

 

 

 

Meanwhile, investigations showed that by about 12 noon, more traders began arriving at the markets, opening their shops and gradually resuming normal business activities.

 

 

 

A trader at Emeka Offor Plaza, Mrs. Chinyere, who sells phone accessories, welcomed the resumption of Monday trading. “We are happy that Monday trading has commenced. We thank Soludo for making it happen. Other parts of the Southeast trade on Mondays, so Anambra should not be different,” she said.

 

 

 

Security presence was visibly high around the markets, with police and military patrol vans stationed within and around major trading areas to maintain law and order.