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Nigeria Observes Increase in Currency in Circulation to N3.87tn in Q1 with Rise in Money Outside Banks

6May

By Afolake IbidunNo Comments

Business

Nigeria Observes Increase in Currency in Circulation to N3.87tn in Q1 with Rise in Money Outside Banks

As reported on the Central Bank of Nigeria website, the total value of Nigeria's Currency in Circulation (CIC) reached N3.87 trillion by the end of the first quarter of 2024, driven by a surge in money outside the banking system. By March 2024, the CIC had risen to 3.87 trillion, marking an increase from N3.69 trillion in February and N3.65 trillion in January. During the first quarter, currency outside banks saw significant growth, starting at N3.28 trillion in January, then increasing to N3.41 trillion in February, and further to N3.63 trillion in March. The data indicates that over 90% of the currency in circulation is held outside the banking system, suggesting a preference for cash holdings among Nigerians. Recently, banks have reintroduced processing fees for deposits. Speaking ...

Tragic Incident: Terrorist Explosion Claims Lives of Seven Civilians in Borno

6May

By Ofomata EdidiongNo Comments

Metro

Tragic Incident: Terrorist Explosion Claims Lives of Seven Civilians in Borno

Tragedy struck along the Maiduguri-Dikwa-Gamboru Ngala road as another Improvised Explosive Device (IED) took the lives of seven individuals, including Mallam Abbashuwa Bulamarwa, a telecommunications expert. The fatal incident occurred over the weekend, when the victims' vehicles unwittingly triggered the planted IED between Dikwa and Logomani village, approximately 80 kilometers from Maiduguri. This unfortunate event occurred just a week after a vehicle carrying members of the Civilian Joint Task Force detonated an IED on the same route, resulting in the death of 10 individuals. The explosion happened on a Saturday as the victims were returning from a wedding in Gamboru, a border town with Cameroon. A grieving relative shared the news of Abbashuwa Bulamarwa's demise on social media, s...

Arrest Made: Kidnappers Fall Asleep Following Abduction of Pastor’s Wife and Others in Ondo

6May

By Ofomata EdidiongNo Comments

Metro

Arrest Made: Kidnappers Fall Asleep Following Abduction of Pastor’s Wife and Others in Ondo

The Ondo State Police Command has successfully apprehended five individuals suspected of kidnapping, who unexpectedly fell asleep after abducting a pastor's wife and two other victims. Reportedly, the suspects dozed off as a result of the consumption of hard drugs. Identified as Garuba Mumuni (27), Yusuf Tale (21), Kabiru Muhammed (16), Shaibu Umar, and Adamu Mohammed (22), the group of kidnappers were captured by the Ofosu Division law enforcement officials shortly after the victims positively recognized one of the perpetrators. In a statement by the police, it was revealed that, "A kidnapping incident was reported at Ofosu Division, involving the abduction of a pastor's wife and a congregation member inside the church, while the third victim was taken while gathering snails on the f...

The Alleged Personal Interest of Tinubu in the Lagos-Calabar Coastal Highway Project – Atiku

6May

By Mariam AbdullahiNo Comments

News

The Alleged Personal Interest of Tinubu in the Lagos-Calabar Coastal Highway Project – Atiku

Accusing the Nigerian government of rushing the Lagos-Calabar Coastal Highway project due to the business connections between President Bola Tinubu and Gilbert Chagoury, the owner of Hitech, 2023 Peoples Democratic Party presidential candidate, Atiku Abubakar, pointed out that Chagoury is the contractor in charge of the highway construction. Atiku criticized the grant of the Lagos-Calabar Coastal Highway contract, stating that it was against procurement regulations. He highlighted the conflict of interest arising from the involvement of Tinubu's son and associates on Chagoury's company boards. Moreover, Atiku claimed that Seyi Tinubu, Tinubu's son, serves as a director on the board of CDK Integrated Industries. He criticized the Tinubu-led government for prioritizing personal business...

Anxieties arise as 13 lives lost, numerous properties destroyed in series of gas tanker explosions within a week

6May

By Mariam AbdullahiNo Comments

News

Anxieties arise as 13 lives lost, numerous properties destroyed in series of gas tanker explosions within a week

In the past seven days, separate gas tanker explosions in Rivers, Osun, and Delta States have resulted in the loss of at least 13 lives, 130 vehicles, and an undisclosed number of houses. Reports from NewsNow indicate a consistent occurrence of tanker explosions in the country, leading to the tragic loss of lives and properties. These recent incidents have sparked concerns among stakeholders, prompting calls for improved methods of transporting all petroleum products nationwide. Notably, on April 27, a tanker transporting Premium Motor Spirit (PMS) caught fire, claiming lives and destroying over 120 vehicles in Rivers State. In the tragic incident, five individuals, including a pregnant woman, lost their lives. The incident took place between the Indorama Petro-Chemical Company...

Cole Palmer Keeps Making History for Chelsea in EPL, Equaling Drogba and Lampard Milestones

6May

By Ofomata EdidiongNo Comments

Sports

Cole Palmer Keeps Making History for Chelsea in EPL, Equaling Drogba and Lampard Milestones

During Chelsea's dominant 5-0 victory over West Ham in the Premier League over the weekend, Cole Palmer once again displayed his skill, reaching the same milestones as club legends Didier Drogba and Frank Lampard. The young English talent wasted no time, scoring the first goal at Stamford Bridge just 15 minutes into the match. Palmer, along with Conor Gallagher and Noni Madueke, played a crucial role in Chelsea's strong performance. Nicolas Jackson's brace later secured the win, boosting Chelsea's aspirations for success in Europe. Palmer's goal was his 21st in the Premier League, a remarkable achievement showcasing his abilities. However, his influence goes beyond statistics. At only 21 years old, he has now matched the accomplishments of Lampard and Drogba. Lampard and Drogba share t...

Impressive Achievement: Mohamed Salah Matches Wayne Rooney’s Record as Liverpool Triumphs Over Tottenham

6May

By Ofomata EdidiongNo Comments

Sports

Impressive Achievement: Mohamed Salah Matches Wayne Rooney’s Record as Liverpool Triumphs Over Tottenham

During Liverpool's 4-2 victory against Tottenham, Mohamed Salah, the Liverpool winger, equaled a record previously held by Wayne Rooney. The scoring spree by Salah, Andy Robertson, Cody Gakpo, and Harvey Elliott at Anfield occurred within the first hour, keeping the Reds' slim hopes for the title alive. Apart from netting the opening goal, the 'Egyptian King' also provided an assist for Elliott's remarkable goal. With this, Salah has now accumulated 18 goals and 10 assists in the current campaign. He has notably become the first player to achieve double digits in both goals and assists for three consecutive seasons. Moreover, Salah is only the second player in history to reach double figures in both categories in five different seasons, a feat previously accomplished only by Rooney du...

Israeli PM Netanyahu Vows to Stand Alone Against Enemies

6May

By Ofomata EdidiongNo Comments

Sports

Israeli PM Netanyahu Vows to Stand Alone Against Enemies

In a declaration, Israeli Prime Minister Benjamin Netanyahu affirmed Israel's commitment to defending itself. Netanyahu remains optimistic about Israel's ability to overcome its adversaries who seek its destruction. His remarks were made during the opening ceremony for Holocaust Martyrs’ and Heroes’ Remembrance Day. Reflecting on the historical vulnerability of the Jewish people during the Holocaust, Netanyahu emphasized the importance of Israel's defensive stance today. Addressing world leaders, he asserted that no external pressure or international decision will deter Israel from protecting itself. As the leader of the only Jewish state, Netanyahu pledged from Jerusalem on Holocaust Remembrance Day that Israel is prepared to stand alone if necessary. While acknowledging global suppor...

Moyes points finger at Declan Rice’s departure for 5-0 loss against West Ham

6May

By Ofomata EdidiongNo Comments

Sports

Moyes points finger at Declan Rice’s departure for 5-0 loss against West Ham

David Moyes, the manager of West Ham, has attributed his team's poor away performances to the departure of Declan Rice. Last summer, Rice made a move to Arsenal for a significant fee of £105m. The English midfielder has played a crucial role in Arsenal's pursuit of the title this season. In their recent 3-0 victory over Bournemouth, Rice scored a goal, provided an assist, and was awarded the man of the match. However, just a day later, Moyes witnessed his team suffer a devastating 5-0 defeat at the hands of Chelsea. Addressing West Ham's struggles this season, Moyes commented: "Declan Rice. "Having the best midfield player in the country who can potentially neutralize 50 percent of their attacks makes you a stronger defensive unit. "We have been lacking defensive protection in front of...

Rumors: Erik ten Hag Linked to Bayern Munich Departure from Man Utd

6May

By Ofomata EdidiongNo Comments

Sports

Rumors: Erik ten Hag Linked to Bayern Munich Departure from Man Utd

According to Sky Sports News, Bayern Munich is contemplating Erik ten Hag from Manchester United as a potential replacement for Thomas Tuchel. Reports suggest that talks have been initiated between Bayern Munich and Erik ten Hag’s agent, Kees Vos. The Bundesliga powerhouse is interested in gauging the Dutchman's willingness to lead at the Allianz Arena. While Erik ten Hag has been informed about Bayern’s interest, there have been no formal discussions with the current United head coach. Sources indicate that Ten Hag's immediate focus remains on completing the season with Manchester United. Despite uncertainties stemming from structural changes within the football leadership at Old Trafford, the 54-year-old coach has expressed confidence in continuing his tenure beyond the current seaso...