Category: News
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Ex-President, Chief Olusegun Obasanjo, has spoken on the controversy surrounding his purported ambition for a third term in office.
There have been claims that Obasanjo was nursing a third term as president, and the former vice president, Atiku Abubakar, also admitted to stopping the agenda.
However, in an interview with Kayode Akintemi on News Central Television on Thursday, Obasanjo said he would have gotten a third term if he had pushed for it but did not want it.
He attributed the report of nursing a third term to some governors who were secretly working towards extending their terms in office.
According to him, the governors believed that if he (Obasanjo) secured a third term, they would also benefit from an extended tenure.
Obasanjo noted that getting debt relief for the country was much more complicated than getting a third term, adding that his government could get debt relief for Nigeria when he was in office.
He said, “If I had wanted a third term, I would have gotten it. I didn’t want a third term. I know some governors working for this, believing that if I, as president, got a third, they would also get it.”
Binance executive, Tigran Gambaryan left Nigeria on Thursday, October 24, after he was detained for eight months in Kuje Prison.
The Bola Tinubu-led administration had abruptly withdrawn charges against Gambaryan on health grounds and after diplomatic pressures.
Initial charges were brought against him by the Economic and Financial Crimes Commission (EFCC).
While dropping the charges in court on Wednesday, EFCC prosecutor stated, “The government has reviewed the case and, taken into consideration that the second defendant (Mr Gambaryan) is an employee of the first defendant (Binance Holdings Limited), whose status in the matter has more impact than the second defendant’s, and also taking into consideration some critical international and diplomatic reasons, the state seeks to discontinue the case against the second defendant”.
It was gathered that Tigran was allowed to leave Kuje prison last night.
In a statement to journalists on behalf of the Binance executive’s family, it was disclosed that Tigran, a US citizen, left Nigeria to return to his family.
Tigran’s wife Yuki Gambaryan stated: “It is a huge relief that this day has finally come. The past eight months have been a living nightmare. I wish it hadn’t taken this long for his release, or that his health had not declined so much, but we can now focus on healing as a family.
“I want to express my deepest gratitude to the US government for their efforts in securing his release. I also want to thank everyone who helped us throughout this ordeal. There were moments I feared this day would never come, but Tigran’s supporters gave me hope and strength.
“The road ahead for Tigran’s recovery is going to be difficult and I appreciate us being given the time and space to focus on that. Our children cannot wait to see their dad again.”
President Tinubu Sacks Five Ministers
On Thursday, the Joint Admissions and Matriculation Board (JAMB) announced that universities and other tertiary institutions in the country may now admit candidates who will be 16 years old by August 31, 2025.
The board announced that the affected candidates can be admitted for the 2024/2025 academic session if they meet the institution’s standards.
Recall that the minimum age for admission in tertiary institutions was earlier this year deliberated at the 2024 Policy Meeting and decided to be 16 years old for the 2024/25 academic session.
The cut-off date was subsequently put on December 31, 2024.
The development triggered reactions from parents and other concerned citizens, who expressed divergent views on the matter.
However, JAMB, in a statement issued on Thursday by its Public Relations Officer, Fabian Benjamin, said because some institutions extended admission periods until July 2025, it will allow institutions to admit candidates who will turn 16 by August 31, 2025.
“This effort is to ensure equity because those whose 2024 admission would last till August 2025 would not be unduly favoured. Any institution that insists on its 16 years being within the year 2024 is completely free to do so,” the statement added.
As of the end of August 2024, the Nigerian Naira is one of the poorest-performing currencies in sub-Saharan Africa.
The World Bank disclosed this in its latest edition of Africa’s Pulse report.
Report showed that the Naira is at par with the Ethiopian Birr, and South Sudanese Pound in terms of decline in the region.
The report blamed the continued increase in the demand for dollars and limited dollar inflow for Naira depreciation in the last months.
According to the report, the Naira lost about 43 percent as of August.
“By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region.
“The Nigerian naira continued losing value, with a year-to-date depreciation of about 43 percent as of end-August.
“Surges in demand for US dollars in the parallel market, driven by financial institutions, money managers, and non-financial end-users, combined with limited dollar inflows and slow foreign exchange disbursements to currency exchange bureaus by the central bank explain the weakening of the naira,” it said.
Recall that the Naira weakened significantly on Tuesday to N1658.97 per dollar from N1552.92 exchanged on Monday.
In the past months, the Naira has continued to fluctuate against the dollar in the foreign exchange market despite interventions by the Central Bank of Nigeria.
Nigeria’s inflation rose to 32.70 percent in September from 32.15 percent recorded in August 2024.
Despite this, the World Bank’s Economic growth in Nigeria is projected at 3.3 percent in 2024 and 3.6 percent in 2025–26.