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Economic Hardship: Davido dole out N300m to orphanages in Nigeria

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Amid the raging economic, Nigerian Afrobeats star, David Adeleke, aka Davido, has announced plans to donate the sum of N300 million to orphanages across Nigeria.

Davido, disclosed this through his social media handle on Tuesday.

The singer said he would make the donation through his foundation, The David Adeleke Foundation, as his yearly contribution to the nation.

He wrote, “I and my foundation pledge the sum of 300 million Naira to orphanages around Nigeria… as my yearly contribution to the Nation.. details of disbursement tomorrow.”

 

 

 

 

Why LaLiga cuts Barcelona spending limit by €66m

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LaLiga, a spanish first-division football league on Tuesday, announced a cut on Barcelona’s annual spending limit to €66million.

This is a reduction from €270m to €204m.

Real Madrid still have the highest cap in Spain’s topflight at €727m.

Atlético Madrid’s cap is also higher than Barcelona at €303m.

After being previously cut by €400m in September, the latest limits reveal the scale of the challenge facing Barça as they attempt to become competitive in the transfer market once again.

ESPN reports that squad costs, which is what the cap regulates, are over €400m, which is more than double the LaLiga-imposed limit.

As a result, Barca are subject to financial restrictions. They are only allowed to spend a percentage of what they save in salaries or raise in transfer fees, with the percentage varying depending on how big the savings is.

ICPC Case: Court sends former FedPoly Bursar to Jail for Fraud

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A former Bursar of Federal Polytechnic, Ado-Ekiti, Mr. Elijah Oladapo, has been convicted for fraud by Hon. Justice A. L. Ogunmoye of the Ekiti State High Court sitting in Ado-Ekiti, Ekiti State.

Independent Corrupt Practices and Other Related Offences Commission (ICPC), disclosed this in a statement by its Spokesperson, Azuka Ogugua on Tuesday.

The convict was first arraigned in court by ICPC in 2021 alongside the former Rector of the same Institution, Mrs. Theresa Taiwo Akande, for allegedly receiving over N500,000as kickbacks from a contractor handling construction projects in the school.

The Commission, in a 9-count charge filed before the court, said their actions contravened Sections 8(1) (a), 19 and 20 of the Corrupt Practices and Other Related Offences Act, 2000.

The accused persons had pleaded not guilty, when the charges were read to them, which set the tone for the long trial.

During the trial, the court heard how the convict had, in 2015, abused his office by demanding and receiving kickbacks from a contractor handling the construction and furnishing of lecture theatres and offices in the school.

In his ruling, the trail judge, Hon. Justice Ogunmoye discharged and acquitted the 1st defendant, Mrs. Akande of counts 1 – 3. He however, found the 2nddefendant, Mr. Oladapo guilty of the charges levelled against him in counts 4 – 9.

He therefore sentenced Mr. Oladapo to 5 years imprisonment for counts 4 – 7 with an option of fine of N1.2m while he also sentenced him to 2 years imprisonment on counts 8 – 9 without an option of fine.

The convict, Oladapo has since been sent to the correctional centre to serve his time.

Hardship: Nigeria Customs to release food items to Nigerians

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The Nigeria Customs Service said it has concluded plans to dispose of seized food items directly to Nigerians.

Comptroller General of Customs, Adewale Adeniyi, disclosed this on Tuesday in a statement by the National Public Relations Officer of the service, Abdullahi Maiwada.

Adeniyi said that the move was in response to the critical challenges of food security and the soaring cost of essential food items in the country.

He added that the items must be certified fit for consumption before being released to Nigerians.

“To alleviate the hardships faced by Nigerians and improve access to essential food items, the Nigeria Customs Service will facilitate the direct disposal of food items forfeited to the Federal Government.

“These items would be certified fit for consumption by relevant agencies and made available to ordinary Nigerians nationwide through equitable distribution in our areas of operations.”

He explained that the modalities for the disposal would be communicated through NCS formations nationwide “with a firm commitment to transparency, fairness, and public safety.”
“We pledge that this exercise would be managed diligently to ensure that the benefits reach those most in need,” he said.

Adeniyi reaffirmed the service’s commitment to advancing President Bola Tinubu’s food security agenda.

He said the commitment was deeply rooted in the NCS’s core mandate of serving the best interests of the Nigerians, “thereby fostering economic stability and prosperity.”
“The NCS remains resolute in its dedication to safeguarding the nation’s food security and advancing the economic well-being of all Nigerians. With the unwavering support and cooperation of the public, we will surmount these challenges and pave the way for a more prosperous future for our beloved nation,” Adeniyi concluded.

Nigerian Newssphere recalls that Nigerians in some Kogi, Niger, Oyo and other states are protesting against the soaring cost of living in the country. Nigeria is suffering an economic crisis, and soaring prices have left many struggling to afford food.

According to the National Bureau of Statistics, latest data, food inflation soared to an all-time high of 35.42 per cent in January.

Naira depreciates to all-time low of N1,700 against US dollar at forex market

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The Naira depreciated to an all-time low against the US dollar at the official and parallel foreign exchange markets worsening Nigeria’s FX crisis on Monday.

Data from FMDQ showed that Naira depreciated to N1,574.62 per US dollar on Monday from N1,537.96 on Friday last week.

This represents an N36.66 or a 2.3 per cent loss compared to 1,537.96 recorded at the close of trading on Friday.

 

Similarly, at the Parallel Market, Naira dropped N1,660 per US dollar on Monday from N1,590 on Friday.

The figure showed that the Naira is to over 1,700 and 2000 per US dollar if nothing is done to time the depreciation.

A Bureau De Operator, Dayyabu Mistila, Bureau De Change operator disclosed this Newssphere on Monday.

The development comes amid a clampdown on illegal Bureau De operators by the officers of the Economic and Financial Crime Commission, EFCC and the arrest of 50 in Wuse Zone 4 Abuja on Monday.

Meanwhile, depreciation FX markets came despite the Central Bank of Nigeria’s introduction of new guidelines on Wednesday last week, stopping the payout of Personal Travel Allowance, PTA and Business Travel Allowance, BTA in cash.

At the same time, the apex bank stopped International Oil Companies (IOCs) operating in Nigeria from repatriating 100 per cent of their forex revenue.

From the current state of the Naira against other currencies, the efforts by the regulator, CBN and the Nigerian government are yet to address the country’s forex crisis.

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Why Igbos are quiet amid raging hardship under Tinubu’s administration- Simon Ekpa

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Simon Ekpa

The Prime Minister of the Biafra Government in Exile, Simon Ekpa, has reacted to questions on why the Igbos are quiet despite the hardship Nigerians grapple with under President Bola Ahmed Tinubu’s administration.

Newssphere recalls that a Peoples Democratic Chieftain and the Executive Secretary of the National Health Insurance Scheme, NHIS, Prof Usman Yusuf, expressed worry about why Igbos are silent despite the raging hardship in Nigeria.

Reacting to Yusuf, the Finland-based lawyer, Ekpa, through his official X account on Monday, said it took him over two years to prepare Biafrans for Nigeria’s hardship.

“I used Two and half years to prepare Biafrans to face today.
Many of the criminal leaders from the Caliphate are worried and surprised that Biafrans are not complaining. I used Two and half years to prepare them for today”.

Newssphere reported that the prime Minister of BRGIE https://nigeriannewssphere.com/hardship-no-protest-in-southeast-south-south-until-biafra-referendum-brgie/had insisted that there would be no protest in its states until the Biafra referendum was granted.

Newssphere recalls that barely over four days ago, the Nigeria Labour Congress and Trade Union Congress declared a two-day protest in Nigeria on February 27 and 28, 2024.

This comes as food prices soared to an all-time high nationwide in Nigeria.

According to the National Bureau of Statistics, Nigeria’s inflation increased to 29.90 per cent in January 2024, propelled by rising food prices.

 

 

 

FCT: ‘Nothing will stop me’ – Wike vows to evict illegal ATV residents

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Wike on inspection before he disappeared

Minister of the Federal Capital Territory, FCT, Nyesom Wike, has vowed that no amount of campaign would stop his administration from taking immediate action to remove illegal settlements encroaching into the Abuja Technology Village, ATV, in Pyakassa, along the Umar Musa Yar’Adua expressway, Abuja.

On Monday, Wike disclosed this in Abuja when he paid an inspection visit to the Abuja Technology Village, in the company of the Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji.

The Minister pointed out that the original inhabitants encroaching into the ATV have been compensated as far back as 2015, blaming the lack of perimeter fencing around the Technology Park for the continued encroachment.

He said he would direct the Development Control Department of the FCTA to give a request to the illegal settlements to leave the area, warning that no amount of campaign will stop the FCT Administration from doing what is right.

“If you don’t act, people will not believe anything is possible. I will call the development control and give them a request for these people to leave. They have been compensated since 2015,” Wike said.

“We must quickly see how we can relocate these people since they have been compensated. We are going to take immediate action. I can tell you that. I urge those settling here to know we will not hesitate to move them out. No amount of campaign will stop us from doing the right thing.”

Nigerian Breweries announce beer price hike

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Beers

Nigerian Breweries, Nigeria’s beer producers, has announced an upward review of its prices amid soaring inflation in Nigeria.

The company disclosed this in a recent statement by its Zonal Business Manager(West), Lekan Awosanya.

According to Awosanya’s statement, the new policy is expected to take effect from Monday, February 19 2024.

The company blamed the price review on rising production and inflation input costs.

“Please accept our best compliments! This is to inform you that we cannot review the prices of some of our SKUs with effect from Monday, February 19, 2024. This review has become necessary because of continued rising input costs and the need to mitigate the impact.

“In appreciation of our great partnership and your commitment, we will deliver at current prices all open orders that are fully funded and created in our system before 00.00hrs on Monday, February 19, 2024.

“The exact quantity of orders that will be allowed will be communicated to you by your Regional Business Manager(RBM). Any order over this quantity will be re-invoiced at the new price on February 19, 2024.

“While thanking you for your commitment to our valued partnership, be rest assured that we will continue to support your sales/distribution efforts as always.

“For further clarifications, please do not hesitate to contact your Regional Business Manager”, the company stated.

The new prices of Nigerian Breweries are:

GULDER – N950

STAR – N850

33 EXTRA – N850

HEINEKEN – N1,300

LIFE – N,850

LEGEND – N1,250 and

TIGER – N750

Nigerian Newssphere that Nigerian Breweries posted a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating an 860 per cent loss.

Hardship: No protest in Southeast, South-south until Biafra Referendum- BRGIE

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The Prime Minister of the Biafra Republic Government in Exile, Simon Ekpa says there will be no protest in Igbo land and other parts of South-south in Nigeria over economic hardship until the Biafra referendum.

The Finland-based lawyer Ekpa disclosed this on his official X account on Sunday.

He noted that Igbos are not part of the purported protest against Nigeria’s federal government.

Ekpa added that Biafra is exiting Nigeria else, the protest is needless.

“There will be no protest until our declaration this year. Biafra is systematically exiting Nigeria and we can’t protest against the result of Biafra Liberation”, the hardship in Nigeria is as a result of the economic strangulation imposed by the Biafra government through actions and measures and that has led to many multinational companies fleeing from Nigeria”, he said.

Newssphere recalls that the Nigeria Labour Congress and Trade Union Congress barely 48 hours ago declared a two-day protest in Nigeria on February 27 and 28 2024 over the ongoing hardship Nigerians grappled with under President Bola Ahmed Tinubu.

As food prices soared to an all-time high, organized labour vowed to protest nationwide.

However, BRGIE said there would not be a protest in the southeast and parts of South-South except if the Nigerian government grants Biafra Liberation.

According to the National Bureau of Statistics, Nigeria’s inflation increased to 29.90 per cent in January 2024, propelled by rising food prices.

Court orders Nigerian Govt to re-open prosecution of Dele Giwa’s killers

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A Federal High Court in Abuja has ordered the federal government, through the Attorney General of the Federation and Minister of Justice (AGF), to re-open the investigation and prosecution of those who murdered the founder of Newswatch Magazine, Dele Giwa, in 1986.

Dele Giwa was murdered on October 19, 1986, in his Lagos office through a letter bomb.

Delivering judgment on Friday in a suit against the AGF, Justice Inyang Edem Ekwo held the Chief Law Officer of the federation is under obligation to prosecute and penalize killers of media practitioners in the country.

Apart from Dele Giwa, the court ordered that the killings of other journalists in the discharge of their lawful duties must be investigated and perpetrators brought to book in line with the provisions of the laws.

The Incorporated Trustees of Media Rights Agenda dragged the AGF before the court to enforce the fundamental rights of media practitioners to safety as guaranteed by the 1999 Constitution and African Charters on Human Rights.

Justice Ekwo, in the judgment, ordered the federal government to ensure adequate protection and safety of the lives of journalists as enshrined in sections 33 and 39 of the Constitution and Articles 4 and 9 of the African Charter on Human and Peoples Rights.

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