Obi of Onitsha Warns Tinubu of Declining Well-Being Among Nigerians

The Obi of Onitsha, Alfred Achebe, has voiced his concerns about the deteriorating well-being of Nigerians due to economic and security challenges under President Bola Tinubu’s administration. Speaking at the 2024 Ofala Festival in Onitsha, Achebe highlighted the sharp decline in the country’s living standards, pointing to the rise in insecurity, soaring inflation, and increasing unemployment.

Achebe criticized the government’s response to the escalating economic crisis, emphasizing the surge in petrol prices and the continued depreciation of the naira. He urged President Tinubu to convene a non-partisan national summit to address the country’s pressing economic and security issues collaboratively.

In addition, the monarch condemned the ongoing violence in the South-East, stressing the impact of unknown gunmen on the region’s schools, markets, and public spaces, which remain closed on Mondays. Achebe also called for better funding for local vigilante teams to combat the rising wave of armed criminal activities.

Lawyer for Mozambique Opposition Candidate Venancio Mondlane Killed in Attack

Elvino Dias, the lawyer representing Mozambique’s leading opposition candidate Venancio Mondlane, was tragically killed in a brazen attack in Maputo on Saturday, 19th October 2024. Dias was gunned down alongside Paulo Guambe, a Podemos party candidate who also supported Mondlane in the October 9 elections.

Eyewitnesses reported that two gunmen opened fire on their vehicle while it was stationary in the heart of the capital. The killings have sparked outrage across the political spectrum, with various parties condemning the act of violence.

Civil society group Mais Integridade condemned the murders, calling them an “intimidation tactic” aimed at disrupting Mozambique’s democratic process. Police have launched an investigation, while tensions remain high as the country awaits the official election results. Mondlane has called for demonstrations, further raising the stakes in an already volatile political climate.

Delays In Election Materials Disrupt Local Government Elections In Kaduna

Local government elections in Kaduna State have faced significant disruptions due to delays in the arrival of election materials and officials. Voting, which was scheduled to begin at 8:00 AM on Saturday, had not started in many polling units by 10:00 AM, causing widespread frustration among voters and party agents.

Key areas such as Tudun Wada, Badiko, Magajin Gari, and Unguwar Sarki were notably affected by the delay, with officials and materials yet to arrive at several collection centres. Zubairu Shan’una, former councillor of Unguwar Sarki Ward, expressed concerns over the delay, stating, “We are still here waiting. The election was to commence by 8:30 AM, but as of 10:00 AM, the materials have yet to arrive.”

Party agents, like Malam Idris at Maimuna Gwarzo Secondary School, also shared their frustration, having arrived early only to find no officials or materials. “We have been here since 6:30 AM, but the officials are yet to arrive,” Idris reported, echoing the sentiments of many affected voters.

In Magajin Gari, the delay led to chaotic scenes, with party agents voicing concerns about the potential impact on voter turnout and the overall credibility of the election process. The situation continues to evolve as officials work to distribute the necessary materials.

Dollar to Naira Black Market Exchange Rate for 19th October 2024

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As of 19th October 2024, the black market exchange rate for Dollar to Naira in Lagos stands at ₦1710 for buying and ₦1725 for selling. These rates, obtained from sources at Bureau De Change (BDC) operators, reflect the ongoing depreciation of the Naira.

In contrast, the Central Bank of Nigeria (CBN) official rate for Dollar to Naira is lower, with a buying rate of ₦1651 and a selling rate of ₦1652. The CBN continues to discourage the use of the parallel market and advises individuals to approach their banks for foreign exchange transactions.

The World Bank recently urged Nigeria’s government not to reverse economic reforms, including the removal of fuel subsidies and multiple exchange rates, despite public hardship. These reforms, though painful, are viewed as essential for long-term economic stability.

Please note that exchange rates may vary depending on location and market conditions.

CUPP Criticizes Tinubu, Shettima’s Foreign Trips Amid National Crises

The Conference of United Political Parties (CUPP) has condemned the simultaneous foreign trips of President Bola Tinubu and Vice President Kashim Shettima, calling it a “dereliction of duty.” As Nigeria faces economic decline, rising insecurity, and a depreciating naira, the CUPP expressed deep concerns over the absence of the nation’s top leaders.

Peter Ahmeh, National Secretary of the CUPP, stated, “Their decision to leave Nigeria during such a critical period is irresponsible and unpatriotic.” He emphasized that the country is in dire need of strong leadership to address soaring inflation and the currency crisis.

Ahmeh also warned that the leadership vacuum could stall critical governance decisions and further destabilize Nigeria’s fragile economy. He urged both leaders to return immediately and called on the National Assembly to hold them accountable for the governance gap.

Rising Costs Undermine Nigeria’s Plans to Reduce Food Prices

The Nigerian government’s plans to lower food prices by removing taxes and import duties on basic food items are facing significant setbacks. The average price of imported food rose to 878.3 in September 2024, a worrying increase reflecting ongoing economic challenges.

In July, the government announced a 150-day duty-free import window for essential commodities like maize, rice, wheat, and cowpeas. However, almost three months later, the initiative has stalled due to bureaucratic delays. The Ministry of Finance has yet to publish the list of qualified importers, a key step in the process.

At a recent press conference, Finance Minister Wale Edun mentioned that the government had ordered maize and wheat imports to stabilize the market. However, implementation remains slow, and food prices continue to rise.

The National Bureau of Statistics (NBS) recorded a 30.6-point jump in food prices from August to September 2024, marking a year-to-date increase of 26.81%. This rise highlights the country’s growing reliance on imported food amidst domestic shortages.

Despite efforts to ease food inflation, the trend continues, leaving both consumers and policymakers concerned.

Ronaldo Tops 2024 List of Highest-Paid Footballers with $285 Million Earnings

Cristiano Ronaldo leads the 2024 list of the world’s highest-paid footballers, according to Forbes, with total earnings of $285 million. The Al Nassr star, 39, earned $220 million from his on-field activities and $65 million from endorsements and business ventures.

Lionel Messi ranks second with $135 million, including $60 million from playing for Inter Miami and $75 million from sponsorships. Neymar, Karim Benzema, and Kylian Mbappé round out the top five, earning $110 million, $104 million, and $90 million, respectively. Forbes highlights both on-field salaries and off-field income sources such as endorsements in compiling the list.

Edo Deputy Governor Shaibu Offers N1 Million Reward for Information on Alleged Looting in Obaseki’s Administration

Edo State’s reinstated Deputy Governor, Philip Shaibu, has announced a N1 million reward for information related to the alleged looting of government property as Governor Godwin Obaseki’s administration winds down. Shaibu, speaking at a press briefing in Benin City, claimed to have evidence of misconduct, including last-minute loans and misappropriation of funds.

Shaibu also called on agencies like the EFCC and DSS to investigate financial irregularities in key state projects, such as the Radisson Hotel and roadworks, and condemned recent appointments he described as undermining the integrity of the civil service.

IMF Approves $1.1 Billion Support for Ukraine Amid Ongoing Conflict

The International Monetary Fund (IMF) has approved a $1.1 billion loan disbursement for Ukraine, providing crucial budget support as the country continues to face the devastating impacts of the Russian invasion. This payment is part of a larger 4-year, $15.5 billion aid program, bringing the total funds disbursed to $8.7 billion.

IMF Managing Director Kristalina Georgieva praised Ukraine’s economic resilience, noting the country’s ability to maintain macroeconomic and financial stability despite the war. However, the IMF warned of ongoing risks due to Russia’s attacks on energy infrastructure and the uncertain war outlook.

Jigawa Commissioner Arrested by Hisbah Over Alleged Affair With Married Woman

The Kano State Hisbah Board has arrested Auwal Danladi Sankara, Jigawa State’s Commissioner of Special Duties, for allegedly engaging in an affair with a married woman, Tasleem Baba Nabegu. Hisbah operatives apprehended Sankara in an uncompleted building, reportedly after tracking him based on complaints, including one from the woman’s husband, Nasiru Bulama. Along with charges related to the affair, Sankara also faces allegations of operating illicit drug centers disguised as hotels, according to Hisbah’s Director General, Abba Sufi. Sankara is set to face court on Monday.