Author: David Great

The Central Bank of Nigeria (CBN) is set to automate foreign currency trades from December, ditching a nearly decade-old over-the-counter trading system in a bid to enhance transparency and remove market distortions. The central bank in seeking to boost liquidity in its currency markets, announced that the new system would “facilitate a market-driven exchange rate accessible to the public”. It also released new guidelines for players in the foreign exchange market. “This development is expected to reduce speculative activities, eliminate market distortions and give the CBN improved oversight,” the bank said in a circular dated Oct. 2. The CBN said…

Canadians have called for the boycott of restaurant chain Tim Hortons following an overwhelming increase in hiring of immigrants, mainly Indians, and the poor standard of its food. On social media, Canadians assert that the company lacks the quality it used to have in terms of customer care service, food quality, and hiring of Canadians. On social media, The Buck You Will expressed disappointment with Tim Hortons, saying, “Join the boycott.” Tim Hortons’ does not represent Canadian values anymore. Hit them where it hurts—their bottom line. Their coffee is watered down. Their food is inedible. Their staff doesn’t speak English.…

King Salman of Saudi Arabia is expected to undergo medical tests after he was diagnosed with lung infection, Saudi Press Agency said on Sunday, “will undergo some medical tests this evening, …based on the recommendations of the royal clinics, due to a lung infection.” The 88-year-old king has been on the throne since 2015, though his son, Mohammed bin Salman, 39, was named crown prince in 2017 and acts as day-to-day ruler. Saudi Arabia, the world’s biggest crude oil exporter, has for years sought to quell speculation over King Salman’s health. The monarch’s well-being is rarely discussed, but the Royal…

Israel bombed targets in Lebanon and the Gaza Strip on Sunday, one year after the Oct. 7 strikes that launched the conflict, as Israel’s defence minister proclaimed all possibilities for retribution against arch-enemy Iran. Hezbollah rockets launched late on Sunday from Lebanon evaded Israeli air defence systems and landed in Haifa, Israel’s third-largest city, causing structural damage, according to police. According to Israeli media, rocket strikes in Haifa and Tiberias injured ten persons. Hezbollah said it had targeted a military site south of Haifa with a salvo of “Fadi 1” missiles. Israeli air strikes battered Beirut’s southern suburbs on Sunday…

Governor Siminalayi Fubara of Rivers State urged newly elected local government chairmen to join him in building a greater River State as he swore them in on Sunday at the State House in Port Harcourt, the state capital. Fubara, a chieftain of the Peoples Democratic Party (PDP) is at loggerhead with his political godfather, Nyesom Wike, which has sparked some unrest in the oil-rich state urged the chairmen to commit to ‘uniting and uplifting our people’. “Today marked a new dawn for Rivers State as we swore in the newly elected local government chairmen. This is a call to serve…

Barcelona stretched their unbeaten run against Deportivo Alaves to 15 straight games after Robert Lewandowski’s first-half hat-trick saw them run out 3-0 winners in the Basque Country. Considering that their last LaLiga outing saw them comfortably defeated by Osasuna, Hansi Flick’s Barca side took to the pitch higher on confidence than they had any right to be. But a five-star UEFA Champions League midweek win meant they were in the mood for more carnage up front, and Barcelona thought they had the lead when Lamine Yamal and Raphinha combined smartly before the Brazilian’s eventual finish was ruled out for offside.…

Nottingham Forest held Chelsea to a 1-1 draw at Stamford Bridge, ending their poor run in the capital, having previously suffered four Premier League (PL) defeats on the bounce in London. The hosts came into this fixture high on confidence having won five successive matches in all competitions. Standing in the way of a sixth win was a Forest side who have proven to be a tough nut to crack, and with a league-low 11 goals seen in their opening five PL matches, the quiet start to proceedings at the Bridge was perhaps unsurprising. Noni Madueke tried his luck on…

As tension rises in the ongoing Rivers State local government elections, former President Goodluck Jonathan has sounded a note of caution to political actors and stakeholders amid rising tensions in the state. In a statement shared on X.com, Jonathan expressed deep concern over the political developments in recent days, urging all parties to prioritize peace, justice, and the rule of law. “The political happenings in Rivers State in the past days is a cause for serious concern for everyone, especially lovers of democracy and all actors within the peace and security sector of our nation,” Jonathan stated. Highlighting the crucial…

Former lawmaker, Senator Shehu Sani, has expressed that the ongoing political crisis in Rivers State is proving costly for both Governor Siminalayi Fubara and Federal Capital Territory (FCT) Minister, Nyesom Wike. In a post on his X account on Saturday, Sani commented on the crisis, which coincides with the local government elections in the State. He noted that the situation is expensive because it requires continuous spending to maintain the loyalty of supporters and protect political strongholds. “Rivers political crisis is expensive for the Governor,expensive for the Minister and expensive for the people of the state. “Everyday money has to…

The Nigerian Bar Association (NBA) has raised alarms over the Rivers State Police’s decision to not provide security during the scheduled local government elections, slated for October 5, 2024. This comes after a statement was issued by the Rivers State Police Public Relations Officer (PPRO), SP Grace Iringe-Koko, indicating the police’s decision to withhold security based on a court ruling. In a strongly worded response contained in a statement, by its Rivers State Chairman, Mazi Adam Osigwe, SAN, the NBA called the move an “egregious violation of constitutional duties,” warning that it could lead to lawlessness and undermine democracy in…