Asisat Oshoala exhibited her brilliance on the field with a spectacular bicycle kick, contributing to Barcelona’s commanding 5-0 triumph over Benfica in the UEFA Women’s Champions League opener on Tuesday.
The Super Falcons forward, who had previously scored a brace in Barcelona’s 6-0 victory against Villarreal in the Spanish league over the weekend, seamlessly continued her impressive form.
Aitana Bonmati and Alexia Putellas each netted two goals against Benfica, setting the stage for Asisat Oshoala to cap off the 5-0 rout just one minute after coming off the bench.
Earlier today, Asisat Oshoala and six other Super Falcons players were nominated for this year’s CAF Women’s Player of the year award.
The central bank of nigeria (CBN) has announced that the old ₦200, ₦500, and ₦1,000 banknotes will continue to be legal tender indefinitely even beyond the initial sunday, december 31, deadline.
CBN made the announcement in a statement released by its spokesperson, Isa Abdul Mumin, on Tuesday.
The apex bank said that the decision was made “in line with international best practices and to forestall a repeat of earlier experiences.”
“Accordingly, all CBN branches across the country will continue to issue and accept all denominations of nigerian banknotes, old and redesigned, to and from deposit money banks (dmbs),” The Apex bank stated.
CBN also noted that it is working with the relevant authorities to vacate a court order that had previously set a deadline for the old banknotes to cease being legal tender.
The bank, therefore, urged the general public to continue to accept all naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with the utmost care to safeguard and protect the lifecycle of the banknotes.
“also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.” It added.
Casa Loma is a Gothic Revival castle-style mansion and garden that is located in midtown Toronto, in the Province of Ontario, within the central part of Canada.
As it is perched atop a hill in the heart of Toronto, within the charming neighborhood of The Annex, this majestic mansion stands as a symbol of opulence and historical significance that was commissioned by the wealthy financier and industrialist Sir Henry Pellatt, to serve as his residence.
The construction was from 1911 and it lasted through 1914 based on the vision of its commissioner, and the extensive work of the architect E. J. Lennox, who designed several other city landmarks.
As Casa Loma sits at an elevation of 140 m (460 ft) above sea level, 66 m (217 ft) above Lake Ontario, Sir Henry Pellatt’s vision for Casa Loma was inspired by European castles and his admiration for their grandeur, and it was built using the latest construction techniques of the time, including steel-reinforced concrete and electric lighting.
Sir Pellatt aspired to create a home that would surpass any other in Canada, showcasing his wealth and social status, which would further host esteemed guests and stand as a testament to his success in making this place of grandeur and hospitality.
The construction of the majestic structure spanned over three years and required a workforce of nearly 300 skilled laborers.
The castle’s foundation is anchored in bedrock, while the exterior features magnificent grey-brown limestone, contributing to its regal appearance.
Additionally, the interiors were meticulously crafted with fine materials, including walnut, oak, and marble, and in total, the construction cost escalated to approximately $3.5 million, a staggering sum during that time.
The architectural style that is featured on the building’s façade showcases a harmonious blend of various styles, predominantly Gothic Revival, with some Romanesque and Edwardian influences.
The castle boasts soaring towers, turrets, battlements, and majestic archways, all reminiscent of the medieval castles that inspired its creation, while one of the most important rooms that the interior contains is The Great Hall, which is an 18 m (60 ft) high room with intricate woodwork and splendid stained glass windows, making it the heart of the castle’s opulence.
Casa Loma, Toronto, Ontario, Canada
The interior furthermore boasts luxuries like electricity, multiple bathrooms with hot and cold running water, an elevator, and central heating, something that was considered a luxury back in the time when it was built.
Featuring 98 lavishly decorated rooms, including a grand ballroom, a library, a music room, and a solarium, as well as luxurious guest suites and servant quarters, Casa Loma was the place that everyone desired either to have for them or to stay in it and enjoy the excellent luxuries of the time.
In addition to this, the castle also has several secret passageways and tunnels. Moreover, as Casa Loma was completed just as the First World War was beginning, Sir Pellatt was using the castle, however, due to various business ventures that failed to deliver expected returns he was forced to sell the castle in 1923 after he fell on hard times.
After Sir Henry Pellatt’s departure, Casa Loma served various purposes, including a hotel, a war-time base for the Royal Canadian Navy, and even a popular nightspot during the Prohibition era, so that in 1937, the city of Toronto would purchase Casa Loma.
Then the city took it upon itself and commenced a thorough restoration project to preserve this invaluable piece of history so that once completed it would open it to the public as a museum.
The castle is now one of Toronto’s most popular tourist attractions, being among one of the great Toronto’s history and architectural heritage structures, attracting over 650,000 visitors each year.
Today Casa Loma is an important landmark in Toronto’s history, as it serves as a reminder of the city’s Gilded Age, when wealthy industrialists built lavish homes to showcase their wealth, further providing insight into the opulent lifestyle of the Canadian elite during the early 20 century.
In popular culture, the castle was also used as a filming location, and has been featured in movies and television shows such as “X-Men: The Last Stand” and “The Handmaid’s Tale”.
In conclusion, Casa Loma is a unique and fascinating building that is a testament to the vision of Sir Henry Pellatt, serving as a reminder of Toronto’s awe-inspiring architecture and rich history, while it continues to enchant and educate visitors while being cherished as a national treasure.
The National Commission for Colleges of Education (NCCE) has kicked against the federal government’s directive that federal colleges of Education should remit 40% of their Internally Generated Revenues (IGR) to the federal treasury.
In a statement, the Union notes with enormous reservations that there is
no basis to apply this directive to the colleges of education since revenues collected in the colleges are meagre charges meant for the discharge of specific services.
According to the statement issued by the president of the Union, Dr.Smart Olugbeko, federal colleges of Education do not generate Internally Generated Revenue ( IGR), adding that they only charge service charges for student identity cards, health clinic services, hostel maintenance, laboratory equipment, teaching practice as well as consumables.
COEASU pointed out that the aforementioned charges cover for government inefficiency as these services are not being funded by government.
COEASU also noted that the recent report by the Joint Admissions and Matriculation Board (JAMB) that Education and Agriculture courses are the least subscribed among applicants to tertiary educational institutions is not only worrisome but portends a counter-developmental trend in Nigeria education system.
The Union therefore warned that
parents will bear the consequences of the policy,as many of them will have to withdraw their children from schools
If government goes ahead to implement the policy.
It however urge the Federal Government to exclude Colleges of Education from remitting 40% of their IGR to the federal treasury.
The Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu, has revealed that the National Assembly will soon launch an application known as ‘NASS Eyes’ to monitor budget transparency and implementation by the Ministries, Departments and Agencies (MDAs) of government.
The monitoring will also include, adherence to the principle of federal character by the affected MDAs.
Kalu who dropped the hints during a courtesy call on him by the management team of AFRILABS, a high-tech company, said that the mechanism is driven by the conscious effort of the parliament to effectively check the performance of budgetary allocations to the agencies of government.
“So, while you think about the economic and entrepreneurial space, also think about innovations in leadership, through technology. How do we employ that in our oversight functions, so that we can be in our offices, heading our committees and also monitoring what is happening in various Ministries, Departments and Agencies of government; so that our oversight functions will not only be based on the bundles of papers submitted to us on the day we visit these MDAs, but a continuous analysis of what they are doing, day in, day out.
“A dashboard that is in the Parliament to see what is being captured in the MDAs will inform members of the Parliament better, so by the time they visit it, they would have gotten sufficient information that would help them oversight tax payers money more efficiently. It is something we must think about.
“We are thinking in that direction and we are about launching what we call the ‘NASS EYES’, the eyes that will be beaming the MDAs while they are working. They will be expected to upload some of the key performance indicators that we will give to them.
“From there, we will analyse and have a better understanding of their budget performance, even before budget presentations, because, some of them come for budget performance presentation and it is rushed, within few hours it is done. That is not well detailed!
“We need innovations, we need technology to drive that, so that we can dig and get beyond paper work, what you have done.
“Also in budgeting, the Federal Republic of Nigeria, innovations and technology will help us to know whether the NEEDS analysis are critical and are part of the budget, not somebody sitting in the office here in Abuja and be imputing anything they want into the budget when they have no social economic impacts on the lives of the people that the budget is meant for,” Hon Kalu said.
He also underscored the need for the deployment of technology in the oversight functions of the parliament, saying it would not only gauge the efforts of the government agencies but also give the needed boost to E-Parliament for the overall benefits of the people.
“It is technology that will help us drive that. It is also technology that will help us know whether the constituencies are being impacted sufficiently by the constituency projects that are being managed by the members of the parliament as well as the MDAs spread of projects; to know whether section 14 of the Constitution of the Federal Republic of Nigeria, the part B of it, with regard to federal character and as it affects projects, if they are well spread, equally, fairly, equitably across the nation, or not.
“There is no magic to this, except through technology. So, you see the scope of your work goes beyond just business and economics of our country. But I also have confidence, that what has driven you into the business space with innovations, will also push you into the leadership space to make sure that we increase the level of accountability and transparency in that aspectaspect”, the Deputy Speaker said.
Earlier in her presentation, the Executive Director of AFRILABS, Anna Ekeledo told the Deputy Speaker that their company is providing multilateral support systems to many organisations across the African hemisphere in terms of capacity building, among others.
“We run programs, working with international organisations, multilateral and development finance institutions, whereby we identify innovative solutions across various sectors, sections such as you know, financial services, for example, climates.
“Basically, what we do is, we support innovation hubs which have infrastructures on ground, all with physical centres across the African continent. Right now, our network spans across 53 African countries and over 200 African cities.
“So, in all of these innovates, in all of these spaces, we have young innovative entrepreneurs and then we run programmes that are in for capacity building, funding and financing. So we also mobilise financing as well to entrepreneurs. We also have a fund called Catalytic Africa, which is a matching fund for African start-ups”, Ekeledo said.
The Manufacturers Association of Nigeria has told the Central Bank of Nigeria to rescind its recently introduced Price Verification System.
The Director-General of the association, Segun Ajayi-Kadir stated this in an interview recently.
According to him, the CBN’s Price Verification Portal Constitutes one of many government policies negatively affecting the activities of manufacturers in the country.
He further stated that manufacturers already have to contend with a barrage of upsetting policies at a time when the economy is facing stern challenges.
Ajayi-Kadir said, “We look forward to the reversal of so many unnecessary restrictions that were placed by the CBN. One of them is the price verification portal which for all practical purposes is quite unnecessary.
“It is affecting the businesses of our members who are not able to import raw materials, machines and parts because the prices that they bought do not fall into the threshold of the portal. I think it is limiting businesses. The CBN should discontinue the operation of that portal.”
Speaking further, the MAN DG urged the CBN to revisit some of its policies with a view to removing the bottlenecks affecting the activities of the real sector of the economy.
He added, “It is a step that CBN needs to take very urgently so that it does not restrain the operations of the manufacturing sector. Everything that the government should do now is to revamp the economy and not to place unnecessary hurdles to the flow of business.
“What the government should focus on is the adequacy of forex. All efforts should be geared towards that direction and not placing unnecessary restrictions that will only hurt genuine and struggling manufacturers in the country.”
The Central Bank of Nigeria on August 17 had announced the official launch of its Price Verification System portal, following a successful pilot phase and extensive training sessions held with all Nigerian banks.
Starting from August 31, 2023, the CBN mandated that all applications for Forms M must be accompanied by a valid Price Verification Report, which can be generated exclusively from the newly established Price Verification Portal.
This move aims to enhance transparency, accountability, and standardisation in trade operations within the nation.
Last month, members of the National Council of Managing Directors of Licensed Customs Agents had kicked against the newly introduced price verification system in the country’s ports by the CBN.
The new system, they said, contravened the Customs and Excise Management (Amendment) Act 20 of 2003/ Nigeria Customs Service Act 2023 on the valuation of import.
In a letter signed by the founder of the NCMDLCA, Lucky Amiwero, sent to the President; Secretary to the Government of the Federation; Chairman of the Senate Committee on Customs and Excise; Chairman of House Committee on Finance; acting Governor of CBN, Ministry of Justice and Attorney General of the Federation, etc., the group urged President Bola Tinubu to disregard the circular from the apex bank on the introduction of the price verification system.
The Nigerian Senate has cautioned Ministries, Departments and Agencies (MDAs) against delayed and non-remittance of internally generated revenue into the Consolidated Revenue Account (CRA).
Chairman, Senate Committee on Finance, Sani Musa, gave the caution in Abuja on Monday at day two of the interactive session on Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) with revenue generation agencies.
Senator Sani, who was responding to the presentations of the Nigerian Institute of Legal and Advanced Studies and the Nigerian Maritime Academy on delayed remmitances to the CRA, said MDAs must take issues of remittance seriously.
He asked the MDAs to present to the committee a breakdown of their revenue collection and remmitances from January to date.
“MDAs are aware that any action in breach of financial regulations is a breach of the law.
“Agencies must work toward remitting the revenue due to the government upon collection without delay. I request that all receipts of remmitances be made available to the committee,” he added.
Senator Sani, who raised issues of disparity in revenue projections and remmitances based on the presentations of the Nigerian Communication Commission (NCC) and the Office of Accountant General for the Federation, also urged the Accountant General of the Federation to interface with MDAs for reconciliation of remmitances made and revenue projections in the MTEF and FSP.
He also requested for a detailed breakdown of remittances arising from revenue collected from stamp duties by the MDAs.
“There is need for proper reconciliation of the remmitances in line with the nation’s financial laws and Fiscal Responsibility Act,” he said.
In her response, the Accountant-General of the Federation, Mrs Oluwatoyin Madein, said her office does engage the MDAs to reconcile their accounts and remmitances made to government in line with the financial laws.
Also, Director General of the Debt Management Office (DMO), Mrs Patience Oniha, while responding to questions on new government loan request, said Nigeria needs to challenge itself to generate revenue, given its projection on debt services by 2026.
Among the MDAs that appeared to present their revenue projections for the 2024-2026 MTEF and FSP were the Office of the Accountant General of the Federation (OAGF), Nigerian Maritime Academy, and the Nigerian Institute of Advanced Legal Studies.
Others were the the National Oil Spill Detection and Response Agency (NOSDRA), Development Bank of Nigeria (DBN), and Debt Management Office, among others.
Meanwhile, the Nigerian Communication Commission (NCC), the Joint Matriculation and Examination Board (JAMB), and the Federal Mortgage Bank of Nigeria (FMBN) were asked to appear another day for re- presentation of their expenditure and revenue projections.
The amount of dollars traded on the Investor & Exporter forex window has risen by 46.69 per cent to $123.25m. The turnover of dollars in the official market on Friday was $84.02m but increased to $123.25m at the close of trading, Monday.
Despite this increase, the naira depreciated by 1.96 per cent to N795.41/$ as of the close of trading on Monday after closing trading at N780.14/$ on Friday according to data from FMDQ OTC Securities Exchange. On Monday, trading opened at N780.83/$ before closing at N795.41/$.
However, during trading the naira traded for as high as N1099/$ and as low as N701/$. Meanwhile, on the parallel market, the naira continued its fall, depreciating by 4.55 per cent to N1,150/$ from the N1,100/$ it traded for on Friday.
The naira has continued to depreciate following the Central Bank of Nigeria’s order to allow the free flow of the country’s exchange rate in June on the official Investor & Exporter forex window. Before this move, the naira traded at the official market on the FMDQ at 471.67/$ and at the parallel market at 765/$ in June.
However, according to new information from Economist Intelligence, the naira is set to close 2023 at N810/$ on the official market. It disclosed this in its recently released country report. It stated that after floating the naira in June, the apex bank has since reverted to guiding the exchange rate by limiting access to foreign exchange sales for banks and other dealers that quote prices outside a preferred rate.
The EIU noted that this unsupportive monetary policy would continue to put pressure on the naira. It said, “However, other factors undermining the naira, such as deeply negative short-term real interest rates, require an orthodox monetary policy that the authorities have not demonstrated enough appetite for. We therefore do not expect a currency float to succeed over 2024-28, although it seems likely that the fuel subsidy will end when the Dangote refinery is able to replace imports, from late 2024 onwards.”
The Ministry of Steel Development has reiterated government’s commitment to utilize the potentials in the steel sector to boost Nigeria’s economy.
Minister of State, Ministry of Steel Development, Uba Maigari Ahmed, made the pledge during a One-Day familiarisation tour of the National Steel Raw materials Exploration Agency (NSRMEA), in Kaduna, North West Nigeria.
In a statement signed by the ministry’s head of press and public relations department, Tine-Iulun, it said that the Ministry pledges to set a legacy of a developed and functional Steel Sector to Nigerians for economic growth, development and a thriving future.
The Minister, while stating the crucial role the steel sector plays in the industrialization of any nation, emphasized the pivotal role of the National Steel Raw Materials Exploration Agency.
He noted that “the pursuit of steel raw materials is not merely an industrial endeavor. According to him, it is a cornerstone of progress, solid foundation for infrastructure, innovation, and national development, adding that the untapped resources of the country, holds the threshold of potential prosperity.”
Speaking further, Uba Maigari disclosed that the agency’s dedication to exploration, innovation, and sustainable mining practices holds the key to unlocking the nation’s treasures and assured of the Ministry’s commitment and support to enhance and propel the National Steel Raw Materials Exploration Agency forward.
He noted that with the backing of the federal government, the ministry aims to foster partnerships, invest in research, and encourage a thriving ecosystem that enables the sustainable development of the nation’s mineral resources.
The Permanent Secretary of the Ministry, Dr. Mary A Ogbe, stressed the Ministry’s commitment to ensure that the Steel Sector is revived and made to function optimally, opining that the ministry has capable Ministers who are geared towards delivering on their mandate.
She solicited the support of all stakeholders to put in their best efforts to achieve the full utilization of the sector.
Also, the Director General, National Steel Raw materials Exploration Agency (NSRMEA), Kolawole Ogunbiyi, disclosed that the Obi- Lafia Coal in Nasarawa State needed to be fully developed for it to be economically minable.
The Federal Government of Nigeria has identified about $23 billion in investment opportunities in Nigeria for projects that are directly related to the country’s Energy Transition Plan.
Minister of Power, Adebayo Adelabu stated this in his remarks at the 2nd German-Nigerian Symposium on Green Hydrogen.
Adelabu said the opportunities would not only provide electric power for economic development but would result in significant net job creation with up to 340,000 jobs by 2030.
He said the Energy Transition Plan, ETP would create up to 840,000 jobs by 2060, driven mainly by power, cooking and transport sectors, adding that gas would play a critical role as a transition fuel in Nigeria’s net-zero pathway particularly in power and cooking sectors.
“The ETP creates significant investment opportunities such as the establishment and expansion of industries related to solar energy, green hydrogen, and electric vehicles.
“$1.9 trillion is required to get Nigeria to Net Zero by 2060, including $410 billion above usual spending. This additional cost translates to about $10bn annually. A $23bn investment opportunity has been identified based on current in-country programmes and projects that are directly related to the Just energy transition,” Adelabu stated.
Also speaking on the essence of gas as Nigeria’s transition fuel, the Executive Secretary, Nigeria Extractive Industries Transparency Initiative, Ogbonnaya Orji, said gas had the potential to produce blue hydrogen, which, though not as clean as green hydrogen, would be useful in Nigeria’s journey towards cleaner energy sources.
“And sadly Nigeria is still battling to put in place and embrace efficient gas commercialisation and utilisation policy. For instance, NEITI’s recent report disclosed a total unremitted revenue of over $8.2bn. These revenues arose from liabilities of government agencies and oil/gas companies.
“A breakdown of the unremitted payments in our report showed outstanding gas royalty of $559.8m and another unremitted sum of $828.8m from unpaid gas flare penalty which indicated that more gas was flared during the period than utilised posing serious dangers to the global zero emissions agenda.
“NEITI is working closely with the Nigerian Upstream Petroleum Regulatory Commission on its ongoing gas commercialisation policy to ensure transparent and effective implementation to reverse the trend of gas flare,” Orji stated.
The Ambassador of Germany to Nigeria, Annett Günther, said Germany and Nigeria were both committed to driving the production and use of hydrogen.
She also referred to the German Chancellor, Olaf Scholz’ recent visit to Nigeria, in which he highlighted that the energy partnership between both nations was not only about traditional fossil fuels but also about hydrogen, the gas of the future.
On his part, the Country Director, GIZ Nigeria and ECOWAS, Markus Wagner, said, “It is crucial to recognise that green hydrogen has the potential to revolutionise our energy landscape. It offers a path to reducing carbon emissions, diversifying energy sources, and boosting economic growth.
“Nigeria and Germany share a long and fruitful history of cooperation in the energy sector and GIZ has been an active partner in this journey, working alongside Nigerian institutions and partners to drive positive change.”
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