IMO BREAKING NEWS BLOG

The Central Bank of Nigeria (CBN) has intervened in the foreign exchange market with a $197.71 million injection to authorised dealers, following a sharp decline in global oil prices triggered by new U.S. trade tariffs.

Crude prices dropped by over 12%, settling at around $65.50 per barrel, down from over $70, after President Donald Trump imposed sweeping tariffs on multiple countries. OPEC data showed the oil basket price fell to $75.35 on Thursday, down from $77.44 the previous day.

Nigeria, which depends on crude oil exports for 90% of its foreign exchange earnings, is vulnerable to such fluctuations.

In a statement issued on Sunday, the CBN said its action—conducted on Friday—aimed to ensure market stability and sufficient liquidity, in line with its broader objective of maintaining a transparent and efficient forex market.

The apex bank attributed the recent currency market shifts between April 3 and 4 to broader global macroeconomic trends, particularly those affecting emerging and developing economies in response to the U.S. tariff move.

“These global developments have ushered in a period of market adjustments,” the CBN noted, “with falling crude oil prices presenting new challenges for oil-dependent nations like Nigeria.”

Kano State Governor, Abba Kabir Yusuf, has expressed deep sorrow over the passing of Ted Odogwu, a veteran journalist and correspondent for The Punch newspaper.

In a condolence message issued on Monday by his spokesperson, Sanusi Bature Tofa, the governor described Odogwu as a seasoned journalist whose extensive career significantly influenced journalism in Kano and beyond.

"On behalf of the government and the good people of Kano State, Governor Yusuf extends heartfelt sympathies to the bereaved family, the Nigeria Union of Journalists, and the Correspondents’ Chapel," the statement read.

Odogwu’s death was officially announced by the Correspondents’ Chapel of the NUJ, Kano State Council.

Chairman of the Chapel, Aminu Garko, paid tribute to Odogwu, describing him as a dedicated journalist who served the profession with integrity and passion.

“It is with deep sorrow that we announce the passing of our esteemed member, Mr. Ted Odogwu, a correspondent with The Punch. He was known for his professionalism and commitment to journalistic excellence,” the union stated.

The NUJ extended its condolences to Odogwu’s family, The Punch management, and the wider public, describing his loss as a major blow to the journalism community.

“May his legacy continue to inspire others, and may his family find comfort in the enduring impact of his career. May his soul rest in peace,” the statement concluded.

Super Eagles midfielder Alex Iwobi has become the first Nigerian to record over 30 goals and 30 assists in the Premier League.

The landmark came in Fulham’s dramatic 3-2 win over Liverpool on Sunday, where Iwobi scored and assisted the decisive goal, bringing his EPL tally to 34 goals and 30 assists.

His standout performance ended Liverpool’s unbeaten away run and lifted Fulham to eighth on the table, keeping their European hopes alive.

Iwobi’s feat marks a new milestone for Nigerian footballers in the English top flight.

Prominent human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has urged the Federal Government to urgently address the widespread killings and abductions across the country, particularly in Benue and Plateau States.

Falana, who chairs the Alliance on Surviving COVID-19 and Beyond (ASCAB), described the ongoing violence by armed herders and gunmen as both unacceptable and preventable.

While commending the swift arrest of suspects linked to the recent Uromi killings in Edo State and the prompt intervention by Governor Monday Okpebholo, Falana criticized the lack of similar urgency in other regions experiencing repeated attacks.

He stressed the Federal Government’s constitutional duty to protect lives and called for the immediate prosecution of suspects already in custody, warning against delayed justice.

Falana questioned why security forces, often deployed en masse during elections, are not similarly mobilized to prevent violence in vulnerable communities.

He also urged state governments to promote intelligence-sharing between citizens and security agencies, emphasizing that public trust and cooperation are essential to improving national security.

Falana’s statement reflects mounting public concern over insecurity and a growing demand for coordinated, people-centered solutions to protect lives across Nigeria. 

Edo State Governor, Monday Okpebholo, has approved N1 billion for the payment of outstanding gratuities to pensioners, some of which have been pending since 2012.

The governor said the move marks the beginning of efforts to clear the backlog of entitlements inherited from past administrations, describing it as a crucial step toward addressing the hardship faced by retired civil servants.

“For over a decade, many of our retirees have suffered due to the non-payment of their gratuities. This administration is putting an end to that,” he stated.

Governor Okpebholo reiterated his administration’s commitment to prioritizing the welfare of pensioners and ensuring they receive their entitlements without further delays.

He assured that the payments would be made in phases through a transparent and structured verification process, adding that mechanisms would be put in place to prevent similar delays in the future.

“This is just the beginning. We won’t abandon our pensioners. They deserve to be treated with dignity and respect,” he added. 

Senate Leader Opeyemi Bamidele has donated two mini-buses, two motorcycles, and 25 wheelchairs to the Therapy Centre for Children with Disabilities in Ado Ekiti.

The donation, made during a visit with Governor Biodun Oyebanji, supports the state’s efforts to improve the welfare of children with special needs.

Bamidele pledged to prioritize the construction of a larger facility as his top constituency project in 2026, responding to the governor’s request to accommodate more children.

The centre, which caters to children with cerebral palsy, autism, and other severe disabilities, currently operates in limited space and serves children in batches.

The donated items are expected to ease transportation and therapy delivery, significantly enhancing care for the children.