US election: Trump, Biden in tensed battle to the finish – Newstrends
Connect with us

News

US election: Trump, Biden in tensed battle to the finish

Published

on

‘Whether Trump ultimately wins or loses, he has cast a pall on this election, as he calls the very machinery of American democracy into question’

There is a tense wait in the United States and indeed across the world as results of the presidential election are still trickling in.

The BBC reports that the outcome of the election is on a knife edge, with Donald Trump and his rival Joe Biden neck and neck in key swing states.

Trump, a Republican, claimed to have won and vowed to launch a Supreme Court challenge, alleging fraud.

Earlier Biden, a Democrat, said he was “on track” to victory.

Millions of votes remain uncounted and no candidate can credibly claim victory as yet. There is no evidence of fraud.

The US is on course for the highest electoral turnout in a century. More than 100 million people cast their ballots in early voting before election day, and tens of millions more added their vote on Tuesday.

With the nation on edge, the final result may not be known for days.

Trump has defied the pre-election polls to do better than predicted, but Biden is still in the race and the overall result is not yet clear.

In the US election, voters decide state-level contests rather than an overall, single, national one.

To be elected president, a candidate must win at least 270 votes in the electoral college. Each US state gets a certain number of votes partly based on its population and there are a total of 538 up for grabs.

The president is projected to have held the must-win state of Florida – a major boost to his re-election bid.

The BBC projects Trump will win another conservative sunbelt state, Texas, where the Biden campaign had dreamed of an upset victory.

But Biden could snatch Arizona, a once reliably conservative state. Fox News and the Associated Press have projected Biden will win that state and CBS News, the BBC’s US partner, says it is leaning the Democrat’s way.

A loss for Trump in that previously Republican-voting state would be a potentially serious setback.

The Rust Belt battlegrounds of Pennsylvania, Michigan and Wisconsin – which propelled Trump to the White House four years ago – are very close.

Pennsylvania is considered crucial for Trump if he is to stave off defeat – he has a significant lead there but a large number of mail-in ballots are yet to be counted. Biden has a narrow lead in Wisconsin and the two are almost neck-and-neck in Michigan.

Trump will keep hold of Ohio and Missouri, known as bellwether states because they have so often predicted the eventual winner, according to the BBC’s projection.

He is also projected by the BBC to win Nebraska, though Biden picked up one vote there in the electoral college, which could turn out to be crucial.

No surprises have emerged yet in the other states.

Control of Congress – the two-chamber legislature – is also at stake. As well as the White House, Republicans are vying to hang on to a majority in the Senate. The House of Representatives is expected to stay in Democratic hands.

What are the candidates saying?

Trump hosted an election night gathering inside the White House with about 100 guests.

In a speech at about 02:30 local time (07:30 GMT) he said: “We were getting ready to win this election. Frankly, we did win this election.”

He went on to allege “major fraud on our nation” without providing evidence, adding: “We’ll be going to the US Supreme Court.”

“We want all voting to stop,” the president said, apparently meaning that he wants to block the counting of postal ballots, which can be legally accepted by some state election boards after Tuesday’s election.

Millions of ballots have yet to be counted and there is no evidence of fraud.

His rival’s campaign condemned the president’s statement as “outrageous, unprecedented, and incorrect”, calling it a “naked effort to take away the democratic rights of American citizens”.

Earlier, at about 01:00 local time, Biden predicted in a speech to supporters in his hometown of Wilmington, Delaware, that he would be victorious.

The Democrat said, “We feel good about where we are; we really do. I am here to tell you tonight we believe we’re on track to win this election.”

He added, “We’re going to have to be patient until the hard work of tallying votes is finished and it ain’t over until every vote, every ballot is counted.”

As his opponent spoke, Trump tweeted from the White House: “We are up BIG, but they are trying to STEAL the Election. Twitter labelled the post as potentially “misleading about an election or other civic process”.

A new “non-scalable” fence was put up around the White House ahead of election day. Businesses in the nation’s capital and also in New York City boarded up their premises due to fears of unrest.

Donald Trump has been telegraphing for weeks that if the presidential election were close, he would accuse his Democratic opponents of committing voter fraud and trying to steal victory away from him. In the early hours of Wednesday morning, he did exactly that.

It is the doomsday scenario that many Americans were fearing, where the president of the United States – from the White House itself – would undermine ballot-counting.

It’s a process that stretches on for days after the election even in normal circumstances, where voters haven’t turned to postal or early voting in large numbers because of an ongoing pandemic.

After Trump spoke, Vice-President Mike Pence tried to smooth over his remarks, declining to declare premature victory and insisting that all the legally cast votes will be counted. It was much more in line with how a US leader would be expected to behave in a moment of political uncertainty.

The damage had been done, however. Whether Trump ultimately wins or loses, he has cast a pall on this election, as he calls the very machinery of American democracy into question.

News

Currency in circulation now N4.8tn – CBN report

Published

on

Currency in circulation now N4.8tn – CBN report

Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month.

Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October.

These figures were contained in the money and credit supply data from the Central Bank of Nigeria (CBN).

The currency in circulation is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.

It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Similarly, currency outside a bank refers to cash held by individuals, businesses and other entities that is not stored in banks.

The currency outside the bank represents about 96 per cent of the currency in circulation.

Nigerians have in recent times been facing acute cash shortage with banks limiting daily withdrawal at Automated Teller Machines (ATMs) to N20,000 irrespective of the number of accounts held by an account owner.

READ ALSO:

According to the latest data, the currency in circulation grew by seven per cent to reach 4,878,125.22 from 4,549,217.51 in October.

Currency in circulation has grown steadily in the outgoing year 2024 with over one trillion naira added to cash in circulation after starting the year with N3.65 trillion in January.

In February, the currency in circulation slightly increased to N3.69 trillion representing an increase of N43 billion or 1.18 per cent from the January figure.

March also saw an appreciable increase to N3.87 trillion while it further increased to N3.92 trillion in the following month of April.

The growth trajectory continued in May with the currency in circulation increasing slightly to N3.97 trillion, an increase of N42 billion or 1.07 per cent while it reached an all-time high of 4.04 trillion, an increase of 2.11 per cent from May.

The July figure also rose marginally with the currency in circulation settling for N4.05 trillion before growing to N4.14 trillion in August and N4.43 trillion in September and N4.5 trillion in October.

In the same vein, currency outside banks grew from N4.2 trillion in October to N4.6 trillion in November, showing increasing preference for other means of storing outside bank deposits.

Economist, Dr. Paul Alaje attributed the development to the expanding money supply, adding, “Money supply is expanding but this may not necessarily be in cash. As it is expanding, it will necessarily induce inflation. But you can’t blame the people. People must look for money. How much was bottled water last year, how much is it today? All of this will induce inflation. If you now ask, what is the cause of inflation? Is it money supply itself or a devaluation policy? It is a devaluation policy. Money supply is an offshoot. So the Central Bank is raising interest rates to actually reduce money supply but the more they try the more money supply expands.”

He stated that the floatation policy of the CBN has created inflation, adding, “It is like chasing one’s tail and I don’t know if you are going to catch it.”

Currency in circulation now N4.8tn – CBN report

Continue Reading

News

Tinubu not telling Nigerians the truth, says Sule Lamido

Published

on

President Bola Ahmed Tinubu

Tinubu not telling Nigerians the truth, says Sule Lamido

President Bola Tinubu has been accused of not being forthright about the true state of Nigeria under his administration.

Former Jigawa State Governor and senior Peoples Democratic Party (PDP) member, Sule Lamido, made the accusation while speaking on the BBC Hausa programme Gane Mini Hanya.

Lamido criticized both Tinubu and former President Muhammadu Buhari for what he described as a lack of transparency in governance.

“Buhari’s and Tinubu’s governments are not being transparent with Nigerians unlike during the time when PDP was in power where everything was transparent and open to all Nigerians,” Lamido said.

READ ALSO:

He accused the two administrations of relying on propaganda rather than providing citizens with accurate information.

Lamido also expressed concerns over President Tinubu’s recent loan requests, questioning the logic behind them. “If Nigerians are being told the truth then there is nothing wrong with that, but how would you budget N30tn, generate N50tn and then request loan when you have a surplus of N20tn,” he said, referencing last year’s budget.

He described the situation as “reckless” and “selfish,” adding, “This recklessness and clear-cut selfishness is not done anywhere in the world, but yet you find (some) Nigerians supporting it. Visit social media and see how APC is being criticised, being referred to as calamity, yet you find some protecting it.”

Tinubu not telling Nigerians the truth, says Sule Lamido

Continue Reading

News

Nigeria Customs Service begins 2025 recruitment [How to apply]

Published

on

Nigeria Customs Service begins 2025 recruitment [How to apply]

The Nigeria Customs Service (NCS) has announced the commencement of its recruitment exercise, assuring Nigerians that the process is entirely free and fair.

The agency has cautioned the public to be vigilant against scammers who may attempt to exploit unsuspecting applicants during the recruitment period.

Applications are invited for positions in the Superintendent, Inspector, and Customs Assistant cadres as part of the Service’s plan to recruit 3,927 officers in 2025.

This initiative is aimed at enhancing trade facilitation and supporting Nigeria’s economic recovery efforts.

“Our recruitment is entirely free and fair. At no stage do we charge fees. Anyone requesting payment is a scammer,” the agency emphasized, urging applicants to be wary of fraudulent schemes.

READ ALSO:

The NCS outlined eligibility criteria, stating that applicants must be Nigerian citizens by birth, possess a valid National Identification Number (NIN), and have no criminal record or ongoing investigations.

Academic qualifications for the three cadres are as follows:

Superintendent Cadre: A university degree or Higher National Diploma (HND) along with an NYSC discharge or exemption certificate.

Inspectorate Cadre: A National Diploma (ND) or Nigeria Certificate in Education (NCE) from an accredited institution.

Customs Assistant Cadre: At least an O’Level certificate (WAEC or NECO).

In addition to these qualifications, the NCS stressed that all applicants must be physically and mentally fit, providing evidence of medical fitness from a recognized government hospital.

Nigeria Customs Service begins 2025 recruitment [How to apply]

Continue Reading

Trending