News Update.

President Bola Tinubu, on Tuesday, said the country’s economy is not distressed, emphasizing that the current circumstances are not beyond repair. This is as a former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu said it will take between three to five years for the economic crisis to go away.

 The Senate on Tuesday, delayed its plenary for about 30 minutes following prolonged power outage in the chambers. The outage was caused by the faulty generator powering the Senate wing of the National Assembly.

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 Meta’s Facebook, Messenger and Instagram were down worldwide on Tuesday, leaving users unable to access the social media platforms. It was gathered that Meta’s internal systems were down which may have led to Tuesday’s outage.

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The national secretariat of the Judiciary Staff Union of Nigeria, JUSUN, has suspended the 102-day strike in Osun State to demand their allowances and suspension of some of their colleagues. A letter dated March 4th, 2024, with reference number JUSUN/NHQ/SUB.27/VOL.11/10 to the Osun branch directed that the members should suspend the strike action.

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Vice President Kashim Shettima has handed over 200 newly refurbished stores for use to 400 entrepreneurs at the popular Asero Adire market in Abeokuta, Ogun State. A statement by the Senior Special Assistant to the President on Media and Information, Stanley Nkwocha, said the beneficiaries will use the stores free of charge for a period of one year after which they will be charged discounted rates for the use of the facilities.

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 An Ekiti State Magistrate’s Court sitting in Ado-Ekiti has remanded a 25-year-old man, Babuga Lede in the correctional centre for allegedly killing two traditional rulers in the state. The monarchs, Elesun of Esun Ekiti, Oba Babatunde Ogunsakin and the Olumojo of Imojo Ekiti, Oba Samuel Olusola, were killed by gunmen along Oke-Ako-Irele on January 29 while returning from a security meeting.

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 Cryptocurrency exchange, Binance, has announced plans to discontinue all services related to the Nigerian naira. Binance, a cryptocurrency exchange platform, was accused of exploiting the Nigerian currency, Naira, leading to its free fall in value.

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 In continuation of measures to address the food inflation and cost of living crisis, the Federal Government on Tuesday said it had so far intercepted 141 trucks attempting to smuggle grains and other staples to Niger Republic, Chad, Cameroon, and the Central African Republic.

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. Boko Haram insurgents have reportedly abducted dozens of female internally displaced persons, IDPs, in Ngala, the headquarters of Gambarou Ngala in Borno State, a local source said. A security source, who confided in our correspondent, also confirmed the abduction but said, “what we heard is that about 113 persons” were abducted.

from dailypost