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BREAKING: Lagos boils, as hoodlums unleash venom over Naira crunch

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Parts of Lagos metropolis went up in uproar on Friday morning, as hoodlums, took to the streets to destroy some installations in the city, amid the inflamed passion over the unavailability of cash to purchase basic communities and engage in normal living taking.

Facilities of commercial banks were the targets of the hoodlums, who descended on their premises in places like, Ikorodu, Epe, Ojota and Agege areas of Lagos, attacking many Automated Teller Machines (ATMs), either in search of unavailable cash or simply to vent their anger.

None of the banks were spared, but reports say the hoodlums, Zenith, Key Stone, First Bank and United Bank for Africa (UBA), were mostly the target and had since temporarily suspended operations in Epe as a result of the attack.

Incidentally, the incidents, which have since been witnessed in many other states, particularly Edo and Delta, is coming a day after President Muhammadu Buhari, restored the life of the old N200 notes, affected in the currency swap move of the Central Bank of Nigeria (CBN), which began the process of phasing out the old note alongside N500 and N1,000.

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The three denominations were redesigned by the apex bank, which finally pegged their expiration date as legal tenders to February 10, after the initial January 31 deadline, but following the outcries across the country that neither the old notes nor the new currencies were available and the intervention of the Supreme Court, halting the deadline, Buhari, in a nationwide address on Thursday, ordered the old N200 back into circulation for 60 days.

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Regardless, rioters, citing the inability to access any form of cash from the affected banks, decided to attack the banks that were supposed to supply them.

Reports, however say that security operatives have stormed the streets to quell the situation, with normalcy returning to the affected areas, including Ojota-Mile 12 parts of the state.

On the heels of the volatile nature of the situation, which led to Access Bank ordering the total closure of operation in Lagos, the Association of Senior Staff of Banks, Insurance and other Financial Institutions (ASSBIFI) is also threatening to shut down operations across the country should the attacks on banks continue.

But the Lagos State Police Command, through its spokesman, Benjamin Hundeyin, a Superintendent of Police (SP), said the information at his disposal indicated that it was one bank that was being attacked, adding that security operatives were already on ground to handle the situation.

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Tough economy: Trouble in APC, as staff plan strike

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A loud grumbling has enveloped the 40 Blantyre Crescent, Wuse, Zone 2, Abuja, headquarters of the All Progressives Congress (APC), where staff across different departments are threatening to down tools in protest of poor welfare and biting economic hardship.

Daily Trust, is reporting that the staff are specifically asking the party’s top echelon to make provision for their housing and other allowances, stressing that the economic situation of the country had become quite unfavourable to them.

The paper quoted one of the staff, who spoke on condition of anonymity, as saying that the party’s executive members had left them to suffer, while taking home humongous amounts of money as salaries and allowances.

Though Abdullahi Umar Ganduje, National Chairman of the party, is said to have commenced payment of N35,000 provisional wage award to them in January 2024, they argued that the largesse would in June, and they would be back to square one and therefore, they needed more stable welfare packages.

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In a swift riposte, Felix Morka, spokesman of the party, was quoted as dismissing the agitation, saying: “Those matters I don’t really discuss them. As you can see, there are many important things to discuss; at the national level, in Edo State. We are battling with all that. So, any in-house matters are not my focus right now.”

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BREAKING: Davido ups the ante, doles out N300million to orphanages

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David Adeleke Nigerian music sensation, otherwise known as Davido is stamping his giant feet with which he has mesmerised his audience across the world in the arena of philanthropy, with an announcement of a fresh donation of a whopping N300million to some orphanages across the country.

The latest is an increase of N63million up from the N237million the popular singer, who disclosed the largesse in a statement on his social media accounts on Tuesday, dolled out last year as part of the gesture in what is now turning out a yearly programme since it started a few years ago.

The gesture is coming at a time Nigeria is under an intense weather of deprivation and poverty, with the prices of food and other commodities hitting the roof and citizens, unable to afford basic items mostly going to bed on empty stomachs as a result.

In recent weeks, demonstrations had erupted in many parts of the country, including Niger, Kano, Ogun and Oyo States, where residents trooped into the streets to demand an end to the parlous situation, which they blamed on the insensitive policies of the government of Bola Tinubu, the Nigerian President.

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The singer, who first gave out N250m to 292 orphanages in October 2022, said the this year’s donation would be done through The David Adeleke Foundation (DAF), adding: “I and my foundation pledge the sum of 300 million Naira to orphanages around Nigeria … as my yearly contribution to the nation. Details of disbursement tomorrow.”

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BREAKING: Tinubu set to probe Buhari’s N23trillion Ways and Means debt

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At last, President Bola Tinubu, may be going through the N23trillion Ways and Means debt obtained by his predecessor, Muhammadu Buhari, with a fine comb to determine what the funds, which is attributed to a major part of the current debt overhang in the country, went into.

The Nation, quoted Wale Edun, Minister of Finance and Coordinating Minister for the Economy as revealing this much to participants at the ongoing Public Wealth Management Conference organised by the Ministry of Finance Incorporated (MoFI).

Besides, the Minister reportedly said the Federal Government would also present a bill to the National Assembly, soon to authorise the removal of “all taxes and levies that constitute nuisance from the country’s tax system, as a measure to wean itself from future Ways and Means indebtedness.

The government, Edun added, will vigorously pursue policies that will allow it harvest revenue in real time from Government Owned Enterprises (GOEs) and Corporate entities.

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It was also on the same day that the Minister explained that Tinubu’s administration inherited a surge in food and general commodity prices from the previous government, but emphasised the government’s commitment to reducing food prices and tackling the nation’s high inflation rate.

Outlining the measures government was taking in tackling the situation, he revealed that, the government had released 42,000 metric tons of grains, with an additional 60,000 metric tons scheduled for release soon.

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