Uncategorized
Forcing naira to appreciate won’t work, Peterside tells FG
Forcing naira to appreciate won’t work, Peterside tells FG
Founder of Stanbic IBTC, Atedo Peterside, has advised the Federal Government not to force the naira to appreciate against the dollar and other currencies in a hurry.
He stated this on a Channels Television programme: “Politics Today,” on Thursday.
Peterside said, “Going to sell dollars to Bureau De Change at N1,000, N1,050, those guys will turn around two weeks later and sell it at N1,400, N1,500 and they will go away laughing.
“What’s the point for that? It’s better to have some stability they can sustain; keep between N1,300 and N1,400, which looks to be the natural equilibrium band today.
“Keep it there for a while, build up your reserve to let confidence come back.
“So stop trying to appreciate the naira in a hurry. It’s not going to work.”
Peterside said the next step for the government is to start doing things to build confidence in investors and stop reckless spending.
He said the habit of doing five things right and doing two things wrong would not help the government achieve anything tangible.
He said Tinubu’s monetary policy is on the right direction, but the government should tackle huge fiscal indiscipline.
Uncategorized
BREAKING: Adeleke finally pardons ‘fowl thief’ Segun Olowookere
BREAKING: Adeleke Finally Pardons ‘Fowl Thief’ Segun Olowookere
Governor Ademola Adeleke of Osun State has granted the prerogative of mercy to Segun Olowookere, a young man convicted of armed robbery and sentenced to death by an Ogun State High Court in 2014.
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Olowookere was pardoned alongside Sunday Morakinyo and 51 others convicted of simple and serious offences on Thursday.
Uncategorized
Lagos-Calabar coastal road: Train track work begins 2025, says minister
Lagos-Calabar coastal road: Train track work begins 2025, says minister
The Federal Government plans to begin constructing train tracks on Section I of the Lagos-Calabar Coastal Highway in 2025.
The Minister of Works, David Umahi, made this announcement during an inspection of Sections I and II of the project, which are located within Lagos and being handled by Hitech Construction Company Ltd, on Friday, December 20, 2024.
The details of the announcement were published in a statement on the ministry’s official website on Saturday.
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“The President has given very serious attention to road infrastructure. Don’t forget that this Coastal Highway and, of course, the four Legacy Projects all have the train track incorporated. The construction of the train track for this section I is going to take off in 2025,” Umahi stated.
The Works Minister outlined plans to enhance the Lagos-Calabar Highway in Sections I and II of Phase 1, including solar-powered CCTV cameras, lay-bys every 5-15 kilometers, and security posts for improved safety and monitoring.
He announced that 20 kilometers of Section 1 are scheduled for commissioning by May 2025. The Federal Controller of Works, Engr. Olukorede Kashia, noted challenges such as large refuse dumps and unsuitable soil conditions requiring extensive remediation during the project.
Lagos-Calabar coastal road: Train track work begins 2025, says minister
Entertainment
Copyright: Court orders Adele’s song removed from platforms
Copyright: Court orders Adele’s song removed from platforms
A Brazilian court has ordered the removal of Adele’s 2015 song Million Years Ago from radio and streaming platforms worldwide following a copyright lawsuit filed by local composer Toninho Geraes.
The ruling, delivered by Judge Victor Torres, comes after Geraes accused the British singer of copying his 1996 classic Mulheres, originally performed by Brazilian artist Martinho da Vila.
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Geraes claims the track from Adele’s album 25 closely mirrors his 1995 composition, demanding recognition and compensation for the alleged infringement.
In the lawsuit, Geraes is seeking $160,000 in moral damages, lost royalties, and a songwriting credit on Adele’s track.
The court has also imposed a fine of $8,000 per act of non-compliance on the Brazilian subsidiaries of Sony Music and Universal Music Group.
Copyright: Court orders Adele’s song removed from platforms
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