As the naira bounces back

The long battle to give the naira its value against major international currencies appears to be yielding results following recent developments and schemes orchestrated by the Central Bank of Nigeria (CBN). Having been on the downward swing for months, and even getting financial experts confused with some predicting it would hit over N600 to the dollar in no time, it was no longer clear if the CBN had an immediate remedy to salvage the situation. Even with some experts urging the bank to drop the adopted flexible exchange rate by…

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Enough of Benue massacre

The massacre in Benue State calls for worry. In less than two years, over 500 innocent souls had been cut down and about 30,000 rendered homeless. The unending killings in the state are coming at a time the Federal Government is beating its chest for ridding the North- East of insurgency. Last week, it was bloodbath when gunmen suspected to be Fulani herdsmen attacked eight communities in Benue State. Scores of defenceless people were killed while several others were displaced. The communities – Buruku, Kwande, Agatu, Gwer East, Gwer West,…

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Minimum wage conundrum

Long before the economy went into recession, the Nigerian labour movement, representing Nigerian workers, had long clamoured for minimum wage review especially in the public sectors. The reason for the agitation has been too obvious considering the rate of inflation and the inability of workers to meet their daily needs from the meagre N18,000 minimum wage. Specifically, the Nigeria Labour Congress (NLC) has consistently proposed that the wage be increased from the current N18,000 to N56,000 due to current inflationary trend in the country. Besides the extant law, which stipulates…

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The new face of African football

History was made in Addis Ababa, Ethiopia last Friday at the General Assembly of the Confederation of Africa Football (CAF). The elections into the executive body of CAF were held and it was a rude shock that former President, Issa Hayatou, was dethroned. For over 29 years, Hayatou was President of the African body. He served seven terms and survived opposition from Armando Machado of Angola in 2000 and Ismail Bhamjee of Botswana in 2004. They were roundly beaten, but Hayatou was also thrown out last week. Ahmad Ahmad, a…

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