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Edited By ArabianInfo A day workshop on area potential survey of lkorodu Local Govt. Sponsored by GIZ Germany Consultant. Honourable Leader of The legislator Chamber and The Deputy Leader of The Legislative arms of the Local Government were actively present. Courtesy :  Araba, Olawale Enifenilanfe  Wadesh Media & Publicity.

Broardcast By Araba, Olawale Enifenilanfe  For nine (9) consecutive month running, 1,079 beneficiaries of the Senator Tokunbo Abiru COVID-19 Financial Assistance received direct credit in their respective bank accounts today across 98 wards of the 16 Local Governments and the Local Council Development Areas, LCDAs in the Lagos East Senatorial District.   Those that benefitted this September belong to the Batch A category. Over a thousand beneficiaries in the category B will receive support next month.  The COVID-19 support scheme which kicked off  January, 2021 in fulfilment of the promise made by the distinguished Senator during the electioneering to assist the poorest of the poor across the Lagos East Senatorial District.    Selected beneficiaries have been getting N5000 assistance bimonthly (i.e once in two months) since the beginning of the year and it will run through the year by way of direct credit to their bank accounts.   Beneficia...

Edited By ArabaianInfo. A Former Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Rafiu Ibrahim, has traced the current woes of the Nigerian naira to the introduction of  Bureau de Change  by former military president General Ibrahim Babangida. Senator Ibrahim, who represented Kwara South in the 8th National Assembly, added that the BDCs were introduced to legalise the then unregistered black market. He said that “the rate at which the naira depreciated in those few years probably explains why Nigerians have never gotten over the idea of a strong currency as the mark of a ‘strong’ economy. People only remember that things got worse as the naira lost ground to the dollar. “The woes of the naira culminated in a 1,789 percent devaluation in eight years of that regime.” The Senator said this in Ilorin, Kwara State capital at a lecture organised by the state council of the Nigerian Union of Journalists (NUJ). He ...

Edited By Araba, Enifenilanfe Olawale  Merchants are barred from exceeding N1 million a deal on eNaira transactions, the Central Bank guideline on the usage of the digital currency indicates. This is part of the operating model and prototype design of the payment platform due to take off on Friday. While the N1 million ceiling is placed on sending and receiving money per transaction on the eNaira, there is no limit to the amount merchants can sweep to their bank accounts. The regulator is however working out the final transaction costs for digital currency users. The Project Giant, unveiled by the CBN to banks, sets limits for eNaira transactions to be conducted by digital currency users with banks and merchants. According to the CBN presentation, Tier 1 consumers with no existing bank account are to conduct daily transaction sending and receiving limit of N50, 000 each and cumulative daily balance of N300, 000. For Tier 2 consumers (those operating bank accounts), the ...

Edited By Araba, Olawale Enifenilanfe 1.  Presidency Speaks On ‘Little Difference’ Between IPOB And Yoruba Nation Agitators President Muhammadu Buhari’s Senior Special Assistant on Media and Publicity, Garba Shehu, has criticized Yoruba nation agitators and the Indigenous People of Biafra (IPOB) for protesting against his principal at the United Nations. Naija News reports that the presidential spokesman in an article titled ‘My takeaways from the 76th UN general assembly session’, described the protest in New York, US, during the United Nations event as “tribal bullying of government officials”. According to him, “While President Buhari was focusing on the problems plaguing the nation and in some instances asking for international support to deal with such, a coalition of groups protested outside the UN building. Shehu then criticized the Yoruba nation agitators for associating with IPOB, stressing that they are “demonstrating there ...

• We are open to dialogue, says NARD The Federal Government on Sunday night said it has not received any official communication from resident doctors on their minimum demands for an end of their 56-day old strike. The government however, assured that it would make its position known to the doctors once it received such communication from the striking doctors’ umbrella body, the Nigerian Association of Resident Doctors (NARD). NARD had  at the end of its 41st Annual General Meeting (AGM) and Scientific Conference in Bauchi, Bauchi  State, at the weekend asked the government to pay the salary arrears of its members on the Government Integrated Financial Management Information System  (GIFMIS) The other conditions the association gave for its members to resume work are the payments of medical residency training fund (MRTF) for 2020 and 2021 and withheld August and September salaries; payment of the salary arrears and allowances of doctors in state tertiary health...

Research By Araba, Olawale Enifenilanfe Unless Nigeria is able to ramp up its production in the current month, the country would be unable to maximum the current rise in crude oil prices in the international market. Oil prices rose for the third week in a row to a near three-year high on Friday with the Brent crude futures rising to above $78 a barrel, the highest since October 2018. Also, WTI crude rose for the fifth consecutive week, with futures up almost three per cent to an 8-week high of $73.98 a barrel boosted by growing fuel demand and falling US crude inventories. The rally in oil prices should come as good news for oil producing countries such as Nigeria, that relies on crude oil sales for over 90 per cent of its foreign exchange earnings, boost the nation’s revenue needed for the implementation of the 2021 budget — improve crude oil receipts — consequently bolster foreign exchange inflows. However, if Nigeria’s crude oil production output do not rise above the av...

 By Tunde Ayeni  Nigeria’s women basketball team, D’Tigress, have cemented their status as Africa’s top basketball team with a comfortable 70-59 victory over Mali to lift their third straight Women’s Afrobasket title. Ify Ibekwe’s double-double and 15 points from Victoria Macaulay saw D’Tigress complete a hat-trick of FIBA Women’s Afrobasket titles on Sunday in Cameroon’s capital Yaounde. Nantes forward Ify Ibekwe led the way with a double-double of 13 points and 10 rebounds, while Turkey-based center Victoria Macaulay top scored with 15 points. Fellow Tokyo 2020 Olympians Ezinne Kalu and Adaora Elonu also weighed in with 13 and 12 points respectively as Nigeria cruised to another continental triumph. The reigning champions dominated at the start of each half, taking the first period 22-11 and the third 28-14, to lead 59-38 going into the final quarter. Mariam Coulibaly (13 points, nine rebounds) and Sika Kone (12 points, 11 rebounds) fought hard for Mali, but the ...

Araba, Olawale Enifenilanfe The World Press Freedom Day takes place on May 03, 2022. This date was declared by the United Nations General Assembly in 1993 to raise awareness of the importance of freedom of the press and remind governments of their duty to respect and uphold the right to freedom of expression enshrined under Article 19 of the Universal Declaration of Human Rights and marking the anniversary of the Declaration of Windhoek, a statement of free press principles put together by African newspaper journalists in 1991. UNESCO marks World Press Freedom Day by conferring the UNESCO/Guillermo Cano World Press Freedom Prize on a deserving individual, organization or institution that has made an outstanding contribution to the defense or promotion of press freedom anywhere in the world, especially when this has been achieved in the face of danger. Created in 1997, the prize is awarded on the recommendation of an independent jury of 14 news professionals. Nam...

©® Ikorodu News The administration of Hon Wasiu Adesina played host to the Community Development Advisory Council Annual Congress at the local government secretariat on the 23rd of September 2021. Tagged ‘Community Policing, Panacea To Safe Environment’ the program saw the local council in a liaison with established grassroots security outfit (Community Policing Forum) CPF aiming to enhance security measures across Ikorodu local government. With Dr Wale Hammed (Hon Commissioner, Ministry of local government & Community Affairs) ably represented by Hon Babatunde Jimoh, the event also played host to other stakeholders; Mrs Kikelomo Sanya-Olu (Permanent Secretary, local government community affairs), Alhaja Sherifat Ewunmi (Director Community Development), Alhaji A.A. Amusat (Chairman, Community Development advisory council), Alhaji Lukman Sonibare (Ikorodu CDC Ikorodu), CDA’s Executive and Ameen Olawale Ibrahim (Vice-Chairman Ikorodu North LCDA) am...

Research By Araba, Olawale Enifenilanfe.  Federation Account Allocation Committee (FAAC)  has shared a total of N696.965 billion August 2021 Federation Account Revenue to the federal, states and local governments councils. This was contained in a communiqué issued at the end of the virtual meeting of the Federation Account Allocation Committee (FAAC) for September 2021 by Office of the Accountant General of the Federation  in Abuja yesterday. The N696.965 billion total distributable revenue comprised distributable statutory revenue of N477.504 billion; distributable Value Added Tax (VAT) revenue of N166.228 billion, exchange gain of N2.830 billion, excess bank charges recovered of N403 million and N50 billion from non-oil revenue. In August 2021, the sum of N72.295 billion was the total deductions for cost of collection, statutory transfers and refunds. The balance in the Excess Crude Account (ECA) was $60.857 million. The communiqué confirmed that...

Research By Arabian_Info. The minister of youth and sports development, Mr Sunday Dare, commended the president and chief executive of the Dangote Group, Alhaji Aliko Dangote, for his massive investments in the Nigerian youth and development of sports infrastructure in the country. Dare gave commendation when he paid a courtesy visit to Africa’s richest man at his office in Lagos on Wednesday. He described the business mogul as a great investor in the youth in Africa, saying the Dangote business conglomerate currently employs close to 60, 000 youths with a further 70,000 to be added when the Dangote refinery begins full operations. The minister briefed the billionaire businessman and invited him to the forthcoming National Youth Conference scheduled to hold in Abuja next month. Apart from his investments in the youth, Alhaji Aliko Dangote is also heavily involved in the development of sports infrastructure and presently funding of the ongoing renovation work at the Moshood ...

Research By Araba_Info Lagos zone of the Tax Appeal Tribunal (TAT) hearing the N1.8 trillion tax dispute between the Federal Inland Revenue Service (FIRS) and MultiChoice Nigeria has announced October 20 as the date for ruling on the matter. The announcement was made yesterday by Professor AB Ahmad, the tribunal chairman, at the resumed hearing. MultiChoice described the alleged tax liability as a product of “hastiness, lack of thoroughness and presumptuousness”. Lagos zone of the Tax Appeal Tribunal (TAT) hearing the N1.8 trillion tax dispute between the Federal Inland Revenue Service (FIRS) and MultiChoice Nigeria has announced October 20 as the date for ruling on the matter. The announcement was made yesterday by Professor AB Ahmad, the tribunal chairman, at the resumed hearing. MultiChoice described the alleged tax liability as a product of “hastiness, lack of thoroughness and presumptuousness”. At the hearing, counsel to the FIRS urged the tribunal to demand proof of d...

Research By Araba, Olawale Enifenilanfe There is no doubt that members of Nigeria’s National Assembly have grown too big for their boots and it is time the Nigerian people are massively fed with the liberating enlightenment that they possess the powers to cut them to size. Yes, the lawmakers need to be served an urgent reminder that they are in that legislative house because the people have so far chosen to tolerate their deficient representation and can wake up one morning, decide that they have had enough of their abject lack of patriotism, suffocating arrogance and insensitivity and ask them to pack their loads and return home. Their recent decision to brazenly sabotage the yearning of Nigerians for a more transparent and credible electoral process by voting against electronic transmission of results only served to open the eyes of many Nigerians to the extent these lawmakers have convinced themselves that they have become untouchable emperors who can ride roughshod on t...

Arabian_Info UNICEF is among the most widespread and recognizable social welfare organizations in the world.   The United Nations Children’s Fund (UNICEF) has revealed that more than 300,000 children lost their lives in the last 12 years because of the insurgency ravaging the North East region.  In its latest statistics, UNICEF disclosed that over one million people have been displaced within the period under review. The agency further divulged that no fewer than 5,129 out-of-school children were currently battling mental health challenges as a result of the conflict in the North. According to a statement jointly released by the European Union (EU) and UNICEF, they noted that a recent Mental Health and Psychosocial Support (MHPSS) needs assessment of conflict-affected children in north-east Nigeria; revealed pervasive psychosocial distress manifesting as high levels of anxiety, suspiciousness, anger, aggressiveness, and hyper-vigilance. “The scars of conflict are r...

Reseach By Araba, Olawale Enifenilanfe  The federal government said the African Continental Free Trade Area (AfCFTA) is expected to raise the income level of about 68 million Nigerians, thereby, leading to poverty reduction and economic growth. The vice president, Prof. Yemi Osinbajo who spoke at the 47th African Insurance Organisation (AIO) Conference, hosted by Nigeria in Lagos, said the free trade agreement presents a major opportunity for African countries, especially Nigeria. He said, “by some estimates, if we get it right, we can bring several millions out of extreme poverty and raise the incomes of 68 million others who live on less than $5.50 per day. There are potential income gains of up to $450 billion, and just cutting red tape and simplifying customs procedures alone could drive up to $250billion of that sum.” Explaining the implications of this for the insurance industry in Africa, he noted that, more trade in goods will mean greater need for insurance ser...

Research By Araba, Olawale Enifenilanfe The North-South Economists’ Forum (NSEF), a group of development economists, has exonerated the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, from the continued depreciation of the naira at the foreign exchange market (forex). The body, in a statement by its chairman and secretary, Mallam Ahmed Abdulkadir and Dr. Chima Eboh, linked the fate of the naira to low receipts from the sale of crude oil and the non-export status of the Nigerian economy. Noting that Nigeria has witnessed two recessions, the first, between 2015-2017, which was due to the crash in the global price of crude oil, and the second, between 2019 and 2020(induced by the COVID-19 pandemic), the group said none of these two major incidents could be traced to the CBN. According to NSEF: “Nigeria earns a huge chunk of her foreign exchange from the 0sale of crude oil but much of that is spent on the importation of refined petroleum products and other basic amenit...