Author: Taiwo Ojoye
The Federal Government has issued a warning to Nigerians about the impending water release from Lagdo Dam in Cameroon. The controlled water releases, set to start on September 17, 2024, will begin at a rate of 100m³/s and gradually increase to 1000m³/s over the next seven days. This release is based on the inflow from the upstream Garoua River. Although the planned water discharges are expected to be gradual to prevent flooding downstream in Nigeria, the Nigeria Hydrological Services Agency advises states bordering the Benue River system to remain vigilant and take necessary preparedness measures. The dam operators have assured…
Ohanaeze Ndigbo Protests Death of Mechanic in Police Custody The death of motor mechanic Chukwudi Abraham in police custody at Octopus Strike Force in Port Harcourt has sparked outrage, with Ohanaeze Ndigbo staging a protest for justice. Members of the group gathered at the spare parts market where the deceased’s shop was located and demanded a thorough investigation into his suspicious death in January. Eze Ndi Igbo in Rivers and Bayelsa states, Sir Sam Nwokolo, refuted police claims that Chukwudi was a kidnapper and stated that he was tortured while illegally detained. The protesters seek justice and assurance that the…
The Association of Bureau De Change Operators of Nigeria is pushing back against the Central Bank of Nigeria’s new capital requirements for their operations. The CBN recently issued guidelines introducing two new categories of licenses with varying capital bases, much to the dismay of BDC operators. Tier 1 BDCs now need a minimum capital requirement of N2bn, while Tier 2 BDCs must have N500m. Existing BDCs have a six-month grace period to reapply under the new rules. The president of ABCON, Aminu Gwadebe, demands a reversal of the financial requirements, seeking support for existing operators to recapitalize instead of reapplying.…