Month: February 2024

Forex Crisis: Nigerian Govt Blocks Binance, Coinbase, Others

ADEOLA YUSUF

The Nigerian government has ordered internet service providers to block access to the websites and apps of major cryptocurrency trading platforms including Binance, Coinbase, and Kraken. Authorities said the move aims to crack down on the alleged use of these platforms by currency speculators and money launderers to manipulate the foreign exchange market and facilitate illicit fund flows, further weakening the struggling Nigerian naira. Sources at major telecommunication firms said they received directives from the Nigerian Communications Commission (NCC) on Wednesday evening to implement the blockade of Binance, ForexTime, OctaFX,…

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BREAKING: FC Barcelona Legend Dani Alves Jailed For Sexual Assault

ADEOLA YUSUF

Dani Alves has been found guilty of sexually assaulting a young woman in a Barcelona nightclub, a Spanish court ruled on Thursday. The three-judge panel sentenced Alves to four years, six months. READ ALSO Nigeria Lacks Infrastructure, Automated System To Halt Frequent Grid Collapse – Minister Tuchel To Leave Bayern Munich In Summer EStars Unveils Classroom of the Future at Misk Global Forum MGF23 Alves, aged 40, denied any wrongdoing during a trial that took place over three days this month. The decision can be appealed. More to follow…

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Nigeria Lacks Infrastructure, Automated System To Halt Frequent Grid Collapse – Minister

ADEOLA YUSUF

Nigeria’s power sector is lacking critical infrastructure and automated system that has left its grid system outrightly fragile. This according to the Power Minister, Adebayo Adelabu, has been the major causes of frequent grid collapse. Adelabu, revealed this in an interview disclosing that the power industry lacks backup system a crucial element present in other countries with contingency plans but lacking in Nigeria. He emphasizes the need for a backup grid to enhance the country’s power infrastructure resilience, pointing out its absence as a major factor in the recurrent disruptions.…

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Tuchel To Leave Bayern Munich In Summer

ADEOLA YUSUF

German giants Bayern Munich will be parting ways with its manager, Thomas Tuchel, at the end of the season, Sky Germany reports. Sky reports that Tuchel will leave Bayern after both sides had “fair and positive discussions” and came to an agreement. The club has also confirmed the development in a statement released on its website on Wednesday. According to the statement, the working relationship, initially set to run until June 30, 2025, will end on June 30, 2024, after a constructive discussion between CEO Jan-Christian Dreesen and Thomas Tuchel.…

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EStars Unveils Classroom of the Future at Misk Global Forum MGF23

ADEOLA YUSUF

The esports industry saw revenues of almost $2 billion in 2022 and has been growing at more than 20 per cent per year.     EStars, the global leader in educational esports, has unveiled a new model for educating students in the MENA region. Platforms Africa reports that Students from Riyadh’s prestigious Misk Schools are the first in the region to undertake the BTEC in Esports, the inaugural lesson of which was delivered at MGF23 digital era. READ ALSO: EStars, Chrisland Schools Unveil Africa’s First Esports in Education Tinubu Confirms…

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Emefiele Demands Apology, N25bn From Akpabio Over ‘Defamatory’ Statement

ADEOLA YUSUF

Former governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has demanded the sum of N25 billion as damages from Senate President Godswill Akpabio, over an alleged defamatory remark. Last weekend, Akpabio had said the allegations against Emefiele are so numerous that the federal government does not know which charges to pin on him. The Senate President had blamed the current economic hardship in the country on the policies of the former CBN governor. Counsel to Emefiele, Matthew Burkaa, said if Akpabio fails to pay the aforementioned sum…

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Exchange Rate For Cargo Clearance Hits N1,605/$

ADEOLA YUSUF

The Central Bank of Nigeria (CBN), on behalf of the federal government, has increased the exchange rate for cargo clearance to N1,605/$. Since President Bola Tinubu assumed power in May 2023, the exchange rate has been reviewed upward nearly 10 times. The first was in June 2023 when it was adjusted from N422.30 per dollar to N589 per dollar. As importers were trying to adjust, the apex bank moved it to N770.88 per $1 in July. On November 14, 2023, the CBN slammed another adjustment on exchange rate, rising from…

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Customs To Distribute Seized Bags of Rice, Others Nationwide

ADEOLA YUSUF

The Nigeria Customs Service (NCS) says it is working to distribute some seized food items nationwide as the biting food crisis continues in the country. According to the National Public Relations, CSC Abdullahi Maiwada, the food items will be distributed after they are certified fit for human consumption. In a Tuesday statement, he said the move is “to alleviate the hardships faced by Nigerians and improve access to essential food items, the Nigeria Customs Service will facilitate the direct disposal of food items forfeited to the Federal Government. “These items…

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Tinubu Confirms Aso Villa’s N342m Electricity Debt, Orders Payment

ADEOLA YUSUF

President Bola Tinubu has directed the immediate settlement of N342m as an outstanding electricity bill due to the Abuja Electricity Distribution Company. The President’s directive follows the reconciliation of accounts between the State House Management and AEDC. On Monday, the AEDC said it will disconnect electricity in the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies over N47.20bn outstanding debts as of December 2023. The publication showed that the State House owed N923m in bills, a figure the Presidency refuted Tuesday. In a statement signed by President Bola…

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When Things Are Tough: 8 Tips To Survive Nigeria’s Current Situation

ADEOLA YUSUF

“Don’t take it personally. You are not the only one drenched by this economic situation. While waiting for the government’s intervention is not a bad idea, these, as a part of Platforms Africa’s Solution Journalism series, are personal things you too should do”   The inflation in Nigeria has risen, affecting prices of food and other items. While the government has announced measures to address the situation, Platforms Africa brings up eight personal tips to survive the situation. HOW TO SURVIVE THIS CURRENT SITUATION IN NIGERIA 1. Don’t take it…

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