Author: Vardiafrica

President-elect Donald Trump has threatened to impose a 100 percent tariff on the BRICS group nations if they undercut the US dollar. “We require a commitment… that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty US Dollar or, they will face 100 percent Tariffs,” Trump wrote on his Truth Social website, referring to the grouping that includes Brazil, Russia, India, China, South Africa and others. The statement comes after a BRICS summit held last month in Kazan, Russia, where the countries discussed boosting non-dollar transactions and strengthening local currencies. The BRICS…

The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors. The inquisitions, which will begin on December 3rd, 4th, and 5th respectively, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations. In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications. In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care. Similarly, Air…

The Inspector General of Police (IGP) Kayode Egbetokun has ordered an investigation into the boat mishap in Kogi State. Scores of persons were feared dead in the accident that happened on Friday. In response, the IGP “directed the Force Marine Officer to lead a comprehensive investigation into the cause of the mishap,” Force spokesman Olumuyiwa Adejobi said in a Saturday statement. “The aim is to identify contributing factors and develop actionable strategies to prevent similar occurrences on the nation’s waterways. This investigation will also provide insights into improving the overall safety and emergency response systems for water transport across the…

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has urged Nigerian youths to reconsider leaving the country, assuring them that the ongoing reforms and policies are designed to benefit everyone and foster economic development. He made this appeal during his keynote address at the 59th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. Cardoso emphasized that the Central Bank’s decisions are made with the best interests of the Nigerian people in mind. He reassured the audience that the bank would continue to strengthen its internal processes to ensure they are driven by…

The Nigerian Communications Commission (NCC) has announced plans to introduce a new and simplified tariff structure for telecommunications operators on December 13, 2024. This initiative aims to simplify tariff plans, increase transparency, and improve consumer experience. The announcement was made during an interactive session with the media in Abuja by the NCC’s Executive Vice Chairman, Dr. Maida Wada, who was represented by the Director of Public Affairs, Mr. Reuben Muoka. Dr. Wada noted that the new date replaces the previously scheduled October 27 release date, which was postponed to allow for further stakeholder input. “On December 13, 2024, we will…

Australia approved on Thursday a social media ban for children aged under 16 after an emotive debate that has gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech. The law forces tech giants from Instagram and Facebook owner Meta (META.O), opens new tab to TikTok to stop minors logging in or face fines of up to A$49.5 million ($32 million). A trial of methods to enforce it will start in January with the ban to take effect in a year The Social Media Minimum Age bill sets Australia up as a…

Russian President Vladimir Putin on Thursday praised US President-elect Donald Trump as an “intelligent and experienced” politician capable of finding “solutions,” as tensions between Moscow and the West ramp up over the war in Ukraine. Speaking to reporters in Kazakhstan, Putin castigated President Joe Biden for creating “additional difficulties” for the incoming Trump administration, after Biden gave Ukraine permission to fire longer-range American missiles, called ATACMS, at targets deep inside Russia The Russian president also threatened to strike Ukraine again with a nuclear-capable ballistic missile, called “Oreshnik,” following Moscow’s widespread overnight attack Wednesday targeting critical energy infrastructure facilities. Asked whether…

President Bola Tinubu on Friday, congratulated former Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala on her unanimous re-election today as the Director-General of the World Trade Organisation (WTO). The renowned development economist and global finance expert made history in 2021 as the first African and first woman to lead the 164-nation-member WTO. Her first term as the seventh Director-General of the WTO will expire on August 31, 2025, while the second term begins on September 1. The Nigerian leader noted with delight that Dr Okonjo-Iweala’s unanimous appointment for a second four-year term demonstrates the trust…

Zenith Bank Plc has announced the inauguration of its services in Paris, France. According to a statement on Friday, the inauguration ceremony was performed by Wale Edun, minister of finance and coordinating minister of the economy, on November 27. The event took place on the sidelines of President Bola Tinubu’s state visit to France, the bank said. “The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the European region,” the…

The General Council of the World Trade Organization (WTO) has agreed by consensus to reappoint Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on 1 September 2025. This decision reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO. The reappointment process, initiated on 8 October 2024, was overseen by Ambassador Petter Ølberg of Norway, Chair of the General Council. With no additional nominations submitted by the 8 November deadline, Dr. Okonjo-Iweala stood as the sole candidate. The process was conducted in a fully open and transparent manner, adhering…