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Love Through the Ages: A Historical Journey of Valentine’s Day

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The history of Valentine’s Day is shrouded in legends and historical anecdotes.

One popular belief traces its origins to a Roman priest named Valentine who defied Emperor Claudius II’s ban on marriages for young men, continuing to perform marriages in secret.

Another story suggests Valentine, imprisoned for helping Christians, sent the first “valentine” greeting to a jailer’s daughter, signing it “From your Valentine.”

Over time, Valentine’s Day evolved in medieval Europe, intertwining with the belief that mid-February marked the beginning of birds’ mating season.

By the 18th century, exchanging love notes and tokens became a common tradition in England.

In the 19th century, mass-produced valentine cards emerged, making the celebration more accessible.

In the 20th century, the commercialization of Valentine’s Day expanded globally.

Today, it’s celebrated worldwide as a day to express love and affection, often with cards, flowers, and gifts.

Despite its commercial aspects, the day retains its romantic essence for many.

Cease cyberbullying Iwobi; his sole offense is representing Nigeria, says AY

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Nigerian comedian Ayo Makun, popularly known as AY, has issued a plea to fellow Nigerians to cease engaging in cyberbullying directed at Alex Iwobi. AY, using his Instagram platform, implored Super Eagles fans to stop the online harassment, emphasizing that Iwobi’s sole offense was representing his homeland.

Iwobi faced criticism after Nigeria’s 2023 Africa Cup of Nations (AFCON) final defeat to Ivory Coast, leading him to delete all his official Instagram posts.

 

AY called for a broader perspective, urging people to consider the detrimental impact of their actions, emphasizing the immediate and lasting consequences of cyberbullying.

Expressing concern about the pervasive nature of cyberbullying, AY highlighted its potential to harm individuals and tarnish reputations swiftly.

 

He underscored the need for a collective effort to cultivate a culture of care and respect on the internet, urging Nigerians to refrain from such negative behavior to support and encourage their national athletes.

Nigerian master bakers and caterers are set to initiate a nationwide strike starting on February 27

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Bakers and Caterers across Nigeria have declared a nationwide strike set to commence on February 27, 2024.

The announcement came during a press conference in Lokoja, where Adeniyi Gabriel, the Chairman of the Association of Master Bakers and Caterers of Nigeria (AMBCN) in Kogi, disclosed the decision.

Gabriel highlighted the challenges faced by the industry, emphasizing the need for measures such as liberalizing flour and sugar importation, reducing or eliminating import duties on key baking materials, providing concessional forex exchange, supporting local cultivation of wheat and sugar cane, and implementing financial relief for bakers affected by the pandemic.

 

The Association specified that unless the government addresses these concerns, they will proceed with a complete cessation of their services from the specified date.

 

 

The Forex crisis has the potential to dissuade foreign investors, warns Comercio Partners

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A recent report by Comercio Partners, titled “Finding Rain in Drought” within its Macroeconomic Outlook 2024, suggests that foreign investors may delay investments in Nigeria due to the ongoing forex crisis.

 

The report highlights concerns about the forex backlog, external challenges amid global uncertainties, and warns of heightened pressure on Nigeria’s exchange rate.

It emphasizes the ominous scenario exacerbated by factors like diminishing external reserves and unpredictable fluctuations in crude oil prices.

The report underscores that the specter of exchange rate strain adds volatility and uncertainty to the local bonds market.

 

Local investors, wary of potential currency devaluation impacts, approach the market cautiously, while foreign investors may opt for a prudent approach, staying on the sidelines amidst the turbulent economic conditions.

Moreover, the report indicates that Nigeria faces economic headwinds, with the interplay of inflationary pressures, tightening measures, liquidity dynamics, and currency challenges shaping its uncertain economic future.

 

The report emphasizes the pivotal juncture the nation stands at and the keen anticipation of investors, both domestic and foreign, as they brace for the unfolding economic developments.

Recent weeks have seen the naira subjected to relentless devaluation pressure, dropping from N899/$ as of December 31, 2023, to N1,534/$ on February 12, 2024.

 

This depreciation followed the Central Bank of Nigeria’s decision to adjust the metric used for calculating the exchange rate, leading to the worst official exchange rate since the currency floatation in June 2023.

The report also touches on the global macroeconomic landscape, including scrutiny and pressure faced by governments worldwide.

 

Comercio Partners provides a detailed macro analysis covering areas such as the global outlook, inflationary challenges, long-term interest rates, global equities, and commodities.

 

The report aims to offer precision and analysis, focusing on African Eurobond markets, geopolitical fallout affecting countries like Egypt, and challenges faced by nations like Kenya and Ghana entangled in election uncertainties and fiscal sustainability concerns.

Minister aims to attract increased investments in the gas sector

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The Minister of State for Petroleum Resources, (Gas), Heineken Lokpobiri, urged increased investments in tapping into Nigeria’s vast gas reserves during the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos.

 

Emphasizing the significance of the event amid global discussions on energy transition and security, Lokpobiri stressed that gas plays a pivotal role in ensuring a secure energy future and driving national development goals.

 

Highlighting the importance of finance and investment in infrastructure, he mentioned the establishment of the Midstream and Downstream Gas Infrastructure Fund to facilitate government equity investment.

 

The minister also outlined government incentives, such as tax waivers and duty exemptions, aimed at fostering gas sector development.

 

Calling for collaboration between the public and private sectors, Lokpobiri underscored the need for joint efforts to bridge the gap between gas demand and the underdevelopment of Nigeria’s extensive natural gas resources.

 

He expressed the government’s openness to partnerships that align with national goals for both domestic utilization and export of gas.

 

 

The FIRS guarantees businesses a supportive tax policy

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The Federal Inland Revenue Service has reassured businesses of a favorable tax administration, as disclosed by Dr. Zacch Adedeji, the Executive Chairman of FIRS, during a recent meeting with the management team of MTN Nigeria in Abuja.

Adedeji emphasized the agency’s commitment to fostering a conducive environment for business growth, aligning with President Bola Tinubu’s directive.

The ongoing restructuring at FIRS has resulted in the creation of a streamlined approach for taxpayers based on turnover thresholds, simplifying the tax payment process.

Adedeji highlighted the removal of redundant letters and the establishment of a one-stop shop for large taxpayers, ensuring efficient services.

 

MTN Nigeria’s CEO expressed support for the Federal Government and FIRS initiatives to boost tax revenue, affirming the company’s commitment to timely tax payments and collaboration for economic stability.

FG outlines requirements for tolling Benin-Asaba and Lagos-Abeokuta highways

The Federal Government has outlined new prerequisites for tolling the Benin-Asaba and Lagos-Abeokuta road corridors, indicating that toll collection will only begin upon the completion of 100% of one carriageway.

These conditions emerged from a renegotiation process with Africa Plus Partners Nigeria Ltd due to increased inflation, exchange rate concerns, and decreased vehicular traffic caused by the rise in the pump price of Premium Motor Spirit.

The Minister of Works, David Umahi, introduced these new parameters to bolster the quality delivery and management of road infrastructure under the Highway Development and Management Initiative. The goal is to ensure the efficient use of completed projects by road users.

The conditions also include adherence to the project’s design, approved construction period, and a strict prohibition of variations.

Umahi emphasized the importance of these changes in optimizing the operational model of the Highway Development and Management Initiative.

 

He outlined key parameters to be incorporated into all contractual relations between the Federal Government and concessionaires.

 

These encompass alignment of business plans with socio-economic dynamics, adherence to federal laws for tolling road projects, and compliance with standard contract conditions.

Additionally, Umahi stressed that contingency and variation on price require express written permission, and the bill of quantities should align with prevailing market prices.

Investors must conduct traffic counts when provided by the client, and public sensitization to the toll program is the responsibility of the investors.

The Minister’s statement highlights that the client reserves the right to terminate an investor’s job for failing to meet the stipulated road project completion time.

All highway constructions must adhere to the standards prescribed by federal laws.

In response, the team leader of Africa Plus Partners Nigeria Ltd expressed gratitude for the minister’s insight into the need for a comprehensive review, encompassing both cost and project scope.

 

They affirmed their commitment to thorough negotiations for a project review leading to a prompt financial close.

 

The team pledged to conduct further technical analysis on raised issues, presenting the findings to the minister for consideration.

FG introduces the ‘Pulaku’ initiative aiming to mitigate conflicts between farmers and herders

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On Tuesday, the Federal Government announced the initiation of the Pulaku Initiative, a significant resettlement program aimed at tackling the persistent farmer-herder clashes across the nation.

Pulaku, referred to as the “Fulani code of conduct,” is a cultural and ethical value system specific to the Fulani people.

The farmer-herder crisis, particularly severe in the North-Central region, has endured for over two decades, claiming over 60,000 lives since 2001.

The program will initially focus on seven states disproportionately affected by these conflicts, namely Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna.

This announcement follows Vice President Kashim Shettima’s plans, revealed eight months ago, to address insurgency and poverty in the northern region.

Shettima emphasized that military actions alone cannot sustainably resolve the security crisis, advocating for both kinetic and non-kinetic solutions.

Inaugurating a steering committee to oversee the initiative, the VP explained that the selection of states is deliberate, aiming for ripple effects that revitalize communities and lay the groundwork for a more inclusive Nigeria.

The government plans to rebuild conflict-torn communities with residences, roads, schools, and essential facilities.

Shettima asserted that the Pulaku resettlement should be seen as an emergency to address a challenge threatening Nigeria’s fabric, fulfilling promises made by President Bola Ahmed Tinubu.

The initiative aims to create an environment where prosperity is not just a distant dream but a tangible reality.

The Kaduna State Governor, Uba Sani, announced the launch date and detailed the program’s components, including the construction of houses, schools, hospitals, and support for those affected by insecurity.

The Benue State Governor, Hyacinth Alia, expects tactical support for farmers in his state, reducing farmer-herder clashes.

Chaired by the Minister of Housing and Urban Development, Ahmed Dangiwa, the committee includes representatives from the benefiting states, the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, and members from various organizations, such as the Economic and Financial Crimes Commission, Bureau of Public Procurement, BUA Group, Dangote Group, and NEMA.

Grant me the authority to pursue the perpetrators of the Yoruba monarchs’ murders, urges Gani Adams

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The Aare Ona Kakanfo of Yoruba land, Iba Gani Adams, has requested the authorization of South-West governors to pursue those responsible for the deaths of three Yoruba monarchs.

 

Adams, in an open letter to Ekiti State Governor Abiodun Oyebanji, asserted his ability to confront the perceived enemies of Yoruba land but emphasized the need for official approval.

 

Recent incidents include the killing of two Ekiti monarchs and an attempted attack on another, raising concerns about the safety of over 60 million Yorubas in different regions of Nigeria.

 

Adams highlighted the urgency for collective action, proposing an immediate meeting with governors to address the escalating security threats and offering his support to effectively combat the issue.

Former Secretary-General of the Federation Exposes Forgery of Buhari’s Signature in $6.2m CBN Transfer

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In his testimony on Tuesday, the former Secretary to the Government of the Federation, Boss Mustapha, revealed that $6.2 million was illicitly released from the Central Bank of Nigeria in February 2023, using a falsified document.

 

Mustapha, the fourth prosecution witness in the ongoing trial of the ex-CBN Governor Godwin Emefiele, disclosed that the funds were intended for foreign observers ahead of the 2023 general elections.

 

Emefiele faces charges of forgery, criminal conspiracy, conferring undue advantage, and breach of trust. Mustapha discredited the document, emphasizing it didn’t originate from the President or his office.

 

He also refuted the existence of approved funds for foreign election observers, highlighting discrepancies in the purported presidential directives.

 

Mustapha asserted that the Federal Executive Council meeting on January 18, 2023, did not include approval for the $6.2 million, questioning the legitimacy of the entire transaction.

 

During cross-examination, he clarified that no funds were received by his office, and the identified payment procedures were atypical. The trial is set to resume on March 7, 11, and 25.