Nigeria Naira Plunges to Record Low, Falling for 9th Straight Year

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January 1, 2022

Nigeria’s currency plunged to a record in the spot market on Friday, narrowing the gap with the rate that investors and exporters pay for the naira, according to Bloomberg.

The currency fell 2.2% to a record N424.27 versus the dollar as of 2.46 p.m. on Friday. It was the biggest drop in the official exchange rate since Feb. 23. The currency has weakened every year since 2012.

The naira has fluctuated widely this year around a largely fixed spot rate of around 415 as investors try to gauge the central bank’s exchange rate direction.

The Central Bank of Nigeria has been selling the greenback at between 437 to 444 naira per dollar to investors since early October.

But according to the central bank’s real effective exchange rate, “the currency is overvalued by around 12% and that should be an indication of the adjustment we need to see.”

FG extends NIN-Sim Verification to March 3

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Henry Williams

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January 1, 2022

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The Federal Government has again extended the deadline for the National Identification Number (NIN)-Subscriber Identity Module (SIM) data verification to the 31st of March, 2022.

According to Isa Pantami, the Minister of Communications and Digital Economy, the extension would enable the Federal Government to consolidate the gains of the process and accelerate the enrolment of Nigerians in key areas like the remote areas, diaspora, schools, hospitals, worship centres, and the registration of legal residents.

The unprecedented growth in the National Identity Database to over 71 million unique NINs in such a short period, with about 3 to 4 SIMs linked to a NIN, reflects the concerted effort of the Federal Government, the Nigerian populace and legal residents and this is truly commendable.” He added

The minister said the National Identity Management Commission (NIMC) has also set up enrolment centres in over thirty-one (31) countries to cater to Nigerians in the Diaspora.

In New Year message, Buhari promises to seek support to tackle insecurity

By

Henry Williams

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January 1, 2022

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President Muhammadu Buhari has said his administration would seek collaboration with international partners and neighboring countries by exploring diverse strategies at addressing security at the grassroots to check the spate of insecurity in the country.

Buhari stated this Saturday during his 2022 New Year broadcast to Nigerians, saying though his administration had made significant gains against insurgence, he was aware of the challenge ahead.

The President said the spate of insecurity in certain parts of the country had derailed gains achieved in the real sectors of the economy in recent times.

He promised that his administration would leverage ICT platforms to create jobs, while the diversification of the economy is expected to aid the emergence of other sectors.

Pres. Buhari Signs N17.126trn 2022 Budget Into Law

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Rhoda Onuzulike

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January 1, 2022

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President Muhammadu Buhari has signed the 2022 Appropriation Bill of N17.126 trillion into law.

The President signed the national budget on Friday morning at the Council Chamber of the Presidential Villa in Abuja, the Federal Capital Territory (FCT).

The appropriation bill was presented to the President by his Senior Special Assistant (Senate) on National Assembly Matters, Senator Babajide Omoworare.

While signing the budget, President Buhari was accompanied by the Senate President, Ahmed Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila.

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, also witnessed the signing of the budget.

NYSC DG Elevated To A Major-General

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Rhoda Onuzulike

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January 1, 2022

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The National Youth Service Corps, NYSC, has said that it is now headed for the second time in its 48-year history by a Major General.
The NYSC said, on Thursday, that Ibrahim, the Scheme’s Director-General, was elevated from the rank of a Brigadier General by the Nigerian Army to the rank of a Major General.

Ibrahim, who hails from Nasarawa State, was back to the office on Thursday as a Major General, after his decoration was performed earlier by the Minister of Defence, Major General Bashir Magashi (Rtd), in Abuja.

The NYSC Deputy Director of Press and Public Relations, Emeka Mgbemena, said in a release that the DG’s administration, which began in May 2019, had improved on staff welfare and the security of corps members nationwide.

He said, “The tenure of Major General Shuaibu Ibrahim as Director-General of the 48-year-old Scheme has witnessed national recognition and tremendous achievements such as robust welfare package for Corps Members.

“Other areas of his achievement include: increased capacity building for Staff, expansion of the Skill Acquisition and Entrepreneurship Development Programme, strengthened synergy with stakeholders for improved productivity, utilization of Corps potentials for optimal benefits, resuscitation of NYSC Farms, establishment of NYSC Museum, establishment of NYSC National Troupe, unveiling of nine books on the Scheme, among others.”

Mgbemena said, “At a reception organised for the Director-General by his family and friends, he thanked President Muhammadu Buhari for finding him worthy to be appointed NYSC Director-General which brought out the potentials in him.

“In the same vein, he expressed appreciation to the Defence Minister, as well as the Chief of Army Staff for the elevation.”Major-General Ibrahim expressed appreciation to the Defence Minister as well as the Chief of Army Staff for the elevation.

Board Grants Ondo Poly Approval to Run HND

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Rhoda Onuzulike

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January 1, 2022

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The National Board for Technical Education has granted approval to the Federal Polytechnic, Ile-Oluji, Ondo State to commence six Higher National Diploma programmes.

Until now, the polytechnic, which was established in 2014 by the Federal Government, had been running Ordinary National Diploma programmes.

In a statement issued by the Head, Information, Protocol and Passages of the polytechnic, Sanmi Enigbokan, the approval of the NBTE would take effect from the 2021/2022 Academic Session.

The statement read, “ The approval which was contained in a letter forwarded to the Rector of the Institution with reference number TEB/PRO/FP.26/Vol.1/142 dated 23rd December, 2021 was the outcome of the resource visitation carried out by the Board to the institution from 15th to 18th November, 2021.

“’The HND programmes for which approval was given include, Computer Engineering Technology; Electrical/Electronic Engineering Technology (Electrical/Telecommunications Option); Electrical/Electronic Engineering Technology (Power/Machines Option); Computer Science ; Statistics and Accountancy.

“Admission of prospective students into the programmes will commence from the 2021/2022 Academic Session after which the approved programmes will be due for full accreditation when the first set of students are in their fourth semester of studies.”
Reacting to this development, the Rector of the Institution, Prof. Emmanuel Fasakin, appreciated the NBTE for the approval granted for the commencement of the HND programmes, adding that with the approval, the institution had arrived as a player in the midst of greatness.

Once Upon A Time – Dec. 31 – 1904 – First New Year’s Eve Celebration Held In Times Square, New York City

By

Angel Gimalo

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December 31, 2021

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406 80,000 Vandals, Alans and Suebians cross the Rhine at Mainz, beginning invasion of Gallia.

1744 English astronomer James Bradley announces discovery of Earth’s nutation motion (wobble).

1775 Battle of Quebec in American Revolutionary War; Americans defeated trying to take British stronghold.

1861 22,990mm of rain falls in Cherrapunji Assam in India in 1861, a world record.

1871 George Leslie Mackay, first foreign missionary of the Presbyterian Church of Canada, arrives in Taiwan where he will establish over sixty churches, a hospital, and several schools. He will cause controversy by marrying a Taiwanese slave woman, but she will become an indispensable co-evangelist with him.

1887 Australia’s oldest Roman Catholic church, called the Church on the Hill, is ready for worship.

1958 Cuban dictator Fulgencio Batista tells his Cabinet he is fleeing the country

1989 Chinese Communist officials meet with evangelist Nora Lam to clear up “misunderstandings” that had earlier blocked her getting a visa to preach in China. She learns that China has approved a cultural exchange program operated by her ministry.

Historical Events Today

Today In Film & TV

1923 BBC begins using Big Ben chime ID

Today In Music

1879 Gilbert and Sullivan’s comic opera “Pirates of Penzance” premieres in NYC.

Today In Sport

1989 Jockey Kent Desormeaux sets record with 598 wins in a year.

Do You Know This Fact About Today? Did You Know?

1904 First New Year’s Eve celebration held in Times Square, New York City

Would You Believe This Fact About Today? Would You Believe?

1994 This date is skipped altogether in Kiribati as the Phoenix Islands and Line Islands change time zones from UTC-11 to UTC+13 and UTC-10 to UTC+14, respectively.

Throwback Thursday – Kano Pyramids

By

Angel Gimalo

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December 30, 2021

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Groundnut pyramids were pyramid-like structures made from groundnut sacks.

The pyramids were built in northern Nigeria in cities such as Kano, where groundnut production was a key part of the economy.

They were viewed as both a tourist attraction and a symbol of wealth.

In the 1960s and 70s, as production in Nigeria shifted from agriculture to oil, the groundnut pyramids disappeared.

Groundnut pyramids were the invention of Alhassan Dantata, a prominent nut trader.

Dantata came to Kano in 1919 and within five years was one of the most successful businessmen, supplying the Royal Niger Company (RNC) with most of their groundnuts. Dantata’s company kept their groundnuts at a facility in Kofar Nassarawa, and they stacked the bags in the shape of a pyramid before they were shipped.

One groundnut pyramid could be made from as much as 15,000 full groundnut bags.

A journalist who visited a former groundnut pyramid site in Kano reported that the land was now a football field.

Groundnut pyramids were built all across northern Nigeria, in cities like Kofar Mazugal, Brigade, Bebeji, Malam Madori and Dawakin Kudu.

The pyramids became synonymous with Nigeria’s agriculture wealth; a postage stamp even featured a groundnut pyramid.

However, as groundnut production declined in the 1970s and 80s the groundnut pyramids disappeared and were replaced with buildings.

Financial Literacy Training: 1,500 Kenyan High Schoolers To Benefit From Initiative

By

Precious Obazee

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December 30, 2021

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Over 1,500 high school students across the East and Southern African region will benefit from financial literacy training in a bid to cultivate a healthy savings culture.

Octagon Africa, through the first virtual financial literacy training, themed Starting now for a better future, aims to educate the students on understanding money, budgeting and saving.

An analysis by EFG Hermes reveals that Africa’s saving rate stands at an average of 17 per cent with Kenya’s saving rate at 12 per cent, half of the average for low-income countries.

The free financial literacy training for high school students is part of Octagon’s social responsibility to contribute to the region’s pension uptake across youth, employed and informal groups.

Exploring Antelope Canyon, Arizona

By

Angel Gimalo

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December 30, 2021

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Located on Navajo land in Arizona, Antelope Canyon is a stunning, picturesque slot canyon with colorful, wavy walls illuminated by streaming beams of light.

The canyon has “upper” and “lower” portions, each with different natural lighting and formations created by erosion.

The canyon is one of the most beautiful places in America’s state and national parks.

Antelope Canyon is a popular location for photographers and sightseers, and a source of tourism business for the Navajo Nation.

It has been accessible by tour only since 1997, when the Navajo Tribe made it a Navajo Tribal Park.

Besides the Upper and Lower areas, there are other slots in the canyon that can be visited, such as the Canyon X which is also part of the same drainage as Antelope Canyon.

All visits are through one of several licensed tour operators. It is not possible to visit the Canyon independently.

Photography within the canyons is difficult due to the wide exposure range (often 10 EV or more) made by light reflecting off the canyon walls.

For several years, there was a specialized “photographer tour” of the Upper Antelope Canyon, where participants needed to have a tripod and camera.

These were discontinued at the end of 2019 to improve the experience for the larger number of people on the general tours.