Author: Vardiafrica

Africa’s richest man Aliko Dangote says Nigerians should expect a drop in inflation given the reduction of diesel pump prices. He stated this on Wednesday during a chat with journalists after he paid Eid-el-Fitr homage to President Bola Tinubu at his Lagos residence. “I believe that we are on the right track. I believe Nigerians have been patient and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively…

Tahir Mamman, minister of education, says members of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union (NASU) may receive half of their withheld salaries if President Bola Tinubu so approves. The nation’s public universities have witnessed recurring disruptions in academic calendars, as members of staff take turns to protest funding deficits, poor conditions of service, and decay in infrastructure. Last year, the president waived the “no work, no pay” policy imposed on the Academic Staff Union of Universities (ASUU) by the Muhammadu Buhari administration, after lecturers embarked on an eight-month strike.  The waiver amounted to the federal government paying four months…

World Athletics announced on Wednesday it will become the first international federation to award prize money at an Olympics, beginning at this year’s Games in Paris Gold medal winners in each of the 48 athletics events in Paris will receive $50,000 (46,000 euros). While athletes are often paid by sponsors and the Olympic tradition of amateur competition has long since been consigned to history, the decision by track and field’s international body to pay prize money represents a major shift for the Games. World Athletics President Sebastian Coe told reporters the decision reflected the efforts of track and field athletes…

The Super Falcons have qualified for the 2024 Paris Olympic Games. Nigeria beat South Africa 1-0 on aggregate to reach the Summer Olympics. Rasheedat Ajibade scored from the spot in the first leg of the qualifiers in Abuja on Friday. That goal was enough for the Super Falcons to pick one of Africa’s tickets for the women’s football event of the Paris Olympics as the second leg tie ended goaless in South Africa. The last time Nigeria’s Super Falcons reached the Olympics was 16 years ago.

The Chairman of Nigerian indigenous carrier Air Peace, Allen Onyema, has raised the alarm that foreign carriers operating the Nigeria-UK route are allegedly conspiring to send Air Peace out of international operations by crashing airfares on the route. There is an “unspoken alliance” among foreign airlines to use lower pricing to eject Air Peace from the Nigeria-London route, alleged a visibly displeased Onyema on Channels Television’s Politics Today programme on Tuesday. “If they take out Air Peace prematurely, this country will pay dearly for it, 10 times over, billions will be lost, there will be another heavy strain on the naira,” he…

The Kano State Attorney General and Commissioner of Justice, Haruna Dederi, who confirmed the development, said Ganduje would be arraigned alongside his wife and six others. The accused individuals, as listed in the writ of summon, include Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lesage General Enterprises. The Kano State Government, which initiated the criminal suit against the eight respondents, has declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court number four. “It is very true. We have filed the…

UK leader Rishi Sunak and Rwandan counterpart Paul Kagame reiterated Tuesday that they expect Britain to soon start sending undocumented migrants to the African country, despite fresh questions over the controversial scheme Prime Minister Sunak hosted Kagame at his official residence in London just as a British newspaper reported that properties in Kigali earmarked for the deported migrants had instead been sold to local buyers. A government spokesperson said Sunak updated President Kagame “on the next stages of the legislation in parliament”, which is at the centre of a standoff. “Both leaders looked forward to flights departing to Rwanda in…

Deputy Speaker of the House of Representatives Hon. Benjamin Kalu has said that the House of Representatives will debate the propriety or otherwise of the recent hike in the electricity tariffs upon the resumption of plenary later this month. It will be recalled that a spontaneous outcry greeted the development upon its announcement by the electricity authorities, stimulating fears that it would escalate the economic hardship in the country Speaking virtually on the special edition of “Ben Kalu’s Mandate”, a call-in radio programme of FLO FM, Umuahia, Abia State on Monday, the deputy speaker posited that the parliament, heeding the…

US President Joe Biden was unveiling new plans Monday to reduce student loan debt for millions of Americans, in a fresh bid to win over young voters who will be crucial in November’s election. The Democrat’s proposals come after his initial, bigger ambitions to cancel several hundred billion dollars of debt were struck down by the conservative-dominated US Supreme Court in June. “The plans, if implemented, would provide debt relief to over 30 million Americans,” the White House said in a statement ahead of a speech by Biden in Madison, Wisconsin. The plans would wipe out accrued interest for 23…

The Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by CBN’s Acting Director of Banking Supervision Department, Adetona Adedeji. The apex bank official listed two exceptions to the rule as foreign currency collateral which are Eurobonds issued by the Federal Government or guarantees of foreign banks, including Standby Letters of Credit. “The Central Bank of Nigeria has observed the prevailing situation where bank customers use Foreign Currency (FCY) as collaterals for Naira loans,” the circular partly read.…