IMO BREAKING NEWS BLOG

The Nigerian government is set to meet with the Nigeria Labour Congress (NLC) on Monday to discuss the planned nationwide protest against the 50 percent increase in telecommunications tariffs.

A reliable source revealed that the meeting, scheduled for 5 p.m., will focus on resolving concerns raised by the NLC and its allies regarding the tariff hike, which they strongly oppose.

The government plans to address the matter in an inter-ministerial meeting led by the Secretary to the Government of the Federation (SGF) to resolve issues affecting Nigerian workers. The NLC has already mobilized for a mass protest on Tuesday, February 4, against the tariff increase approved by the Nigerian Communications Commission (NCC) on January 20, 2025.

The NLC’s General Secretary, Emma Ugboaja, had earlier called for mass mobilization to send a strong message to the government. Telecom subscribers, led by Adeolu Ogunbanjo, have also threatened legal action against the tariff hike, arguing that any increase should be capped at 10 percent due to the existing economic hardship in the country.

The Minister of Communications and Digital Economy, Bosun Tijani, has cited global inflation as the reason behind the 50 percent hike.

Tragedy struck in Nnewichi, Nnewi North Local Government Area of Anambra State, on Saturday as unknown assailants murdered three siblings—a five-year-old boy and two girls aged seven and nine.

Reports indicate that the attackers entered the family’s home while the children were eating, killed them, and placed their bodies inside a deep freezer.

Eyewitnesses said their mother, Chikazor Ejezie, a lecturer and nurse, was away for an examination, while their father, who works in Edo State, was also absent when the attack occurred.

Upon returning home, the mother noticed the door was wide open, which was unusual. After a frantic search, their bodies were discovered in the freezer.

The grieving father, Ejezie Udochukwu, recounted how the children were initially searched for at church before their bodies were found at home. The family lives in a bungalow shared with two tenants and a landlord.

The police have launched an investigation, with the Commissioner of Police, CP Nnaghe Itam, transferring the case to the State Criminal Investigation Department in Awka.

Residents of Nnewichi have called for justice, urging authorities to ensure the perpetrators are brought to book.

Finance and Coordinating Minister of the Economy, Wale Edun, recently met with a high-level JP Morgan delegation to discuss investment opportunities in Nigeria.

According to a statement from the Ministry’s Director of Information and Public Relations, Mohammed Manga, the delegation was led by Dapo Olagunju, Head of JP Morgan West Africa.

The meeting, held in Abuja, was part of JP Morgan’s fact-finding mission to assess Nigeria’s economic landscape and explore potential investments. The delegation included major investors with significant stakes in Nigeria’s Eurobonds and local securities.

During the discussions, Edun highlighted Nigeria’s economic progress, citing a successful Eurobond transaction completed without a roadshow due to strong global investor confidence. He also reaffirmed President Bola Tinubu’s commitment to attracting foreign investment through strategic international engagements and market-driven reforms.

The Minister outlined key developments in the energy sector, including agreements with the International Finance Corporation (IFC) to expand electricity access to 400,000 Nigerians initially.

Addressing inflation concerns, Edun assured investors that the Central Bank of Nigeria is implementing orthodox monetary policies, while the government focuses on boosting agricultural production and stabilizing food prices. 

Former Spanish football federation president Luis Rubiales will go on trial Monday for forcibly kissing player Jenni Hermoso during the 2023 Women’s World Cup medal ceremony. Prosecutors seek a 2.5-year prison sentence—one year for sexual assault and 18 months for allegedly pressuring Hermoso to downplay the incident.

The trial, running until February 19, will be held at the National Court near Madrid, with Rubiales set to testify on February 12. He denies wrongdoing, calling the kiss a harmless celebration.

Alongside Rubiales, former women’s team coach Jorge Vilda and two ex-federation officials face charges of coercion, with prosecutors seeking 18-month jail terms for them.

The scandal, which erupted after Spain’s World Cup victory, led to Rubiales’ resignation in September 2023. A Netflix documentary revealed that Hermoso was pressured to portray the kiss as a moment of joy. 

The suspension of U.S. funding for global HIV treatment has sparked fear and uncertainty among people living with the disease, particularly vulnerable groups such as children, the elderly, and those dependent on free medication.

Haruna Makafin Dala, Secretary of the SafeLife Sustainable and Counseling Initiative in Kano, warned that without urgent government intervention, many patients could face life-threatening consequences. He expressed concern that the funding cut could drive people toward unproven traditional remedies, worsening the crisis.

Bashir Ismail, another HIV patient, revealed that free testing and medication for new cases had already been suspended, with drug supplies running low.

A recent survey by SafeLife Initiative found a rise in child HIV infections in Kano, while support for orphaned children is dwindling. The organization currently cares for over 2,000 orphans who lost parents to HIV-related complications.

The funding suspension stems from an executive order signed by former U.S. President Donald Trump, revoking support for the global fight against HIV/AIDS. The World Health Organization (WHO) condemned the decision, warning it could reverse decades of progress, leading to increased infections and deaths.

The cut affects the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), which has operated in over 50 countries, saving more than 26 million lives. Currently, it provides treatment for over 20 million people, including 566,000 children under 15. 

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says the apex bank is determined to curb inflation and stabilise the nation’s economy.

He stated this in Abuja during the Monetary Policy Forum 2025, featuring fiscal authorities, legislative, private sector, development partners, subject-matter experts, and scholars. Speaking on the theme, ‘Managing the Disinflation Process,’ the apex bank boss reiterated that the goal of the CBN is to ensure that monetary policy remains forward-looking, adaptive, and resilient.

He said the CBN is continuing its disciplined approach to monetary policy. “Managing disinflation amidst persistent shocks requires not only robust policies but also coordination between fiscal and monetary authorities to anchor expectations and maintain investor confidence.

“Our focus must remain on price stability, the planned transition to an inflation-targeting framework, and strategies to restore purchasing power and ease economic hardship,” Cardoso said.

He stated that actions taken by the CBN have yielded measurable progress – relative stability in the FX market, narrowing exchange rate disparities, and a rise in external reserves to over $40 billion as of December 2024.