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Just in: Federal High court stops CBN from releasing allocation to Rivers govt

Published

5 hours ago

October 30, 2024

By Kayode Sanni-Arewa

A Federal High Court in Abuja has stopped the Central Bank of Nigeria, CBN, from further releasing monthly financial allocations to Rivers state government.

The court held that the receipt and disbursement of monthly allocations since January this year by Governor Siminalayi Fubara was a constitutional aberration that must not be allowed to continue.

Justice Joyce Abdulmalik, who issued the order on Wednesday, held that the presentation of the 2024 budget by Fubara before a 4-member Rivers House of Assembly was an affront to the Assembly.

Specifically, the judge said that Fubara action in implementing unlawful budget smacked gross violations of the 1999 Constitution he swore to protect.

The judge therefore restrained CBN, Accountant General of the Federation, Zenith Bank and Access Bank, from further allowing Fubara to access money from the Consolidated Revenue of the Federation Account.

News

Reps Tells Keyamo To Revoke Living Faith Church Airstrip License

Published

26 seconds ago

October 30, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has directed the Ministry of Aviation and Aerospace to withdraw already approved airstrip licences granted to Living Faith Church, private individuals and organizations, and stop further issuance of license to private individuals and organizations as a way to safeguard national security.

This was sequel to the adoption of a motion of urgent public importance on the “NEED TO STOP ISSUANCE OF AIRSTRIP LICENSE TO PRIVATE INDIVIDUALS AND ORGANIZATIONS IN THE COUNTRY, by Rep Sulaiman Abubakar Gumi on Wednesday at plenary.

Debating the motion, Rep. Gumi noted that the Federal Government through the Minister of Aviation and Aerospace, Festus Keyamo, confirmed the approval of an airstrip for Living Faith Church situated on Canaanland in Ota, Ogun State.

He also explained that on Sunday, 6th October, 2024, the Founder of Living Faith Church, also known as Winners Chapel, Bishop David Oyedepo during the Tehillah Night Special edition at Covenant University Chapel, Canaanland, Ota, Ogun State informed his congregation of the approval of an airstrip granted by the Federal Government to his Church.

He said: “Recall that in September 2014, a prominent religious leader was linked with a private jet used to convey $9.3m in cash to South Africa for purchase of arms. The private jet which was seized by the South African authorities has two Nigerians and an Israeli on board, (Sahara Reporters, 16th September, 2014);

“The country currently experience security challenges through illegal importation/proliferation of firearms and ammunition, importation of illicit/hard drugs, coupled with the inability of our security agencies to pinpoint the source of supply of weapons to insurgents, kidnappers and separatists that have massacred thousands of Nigerians across the Country;

“Granting airstrip to private individuals and organizations will aid illegal importation of firearms and hard drugs into the country, thus heightening insurgency, kidnapping, banditry and other vices that are seriously affecting the socio-economic development of the country”.

However when the Speaker of the House, Rep. Tajudeen Abbas put it to a voice vote, the “NAY” was loudest but the “AYES” was given as the Speaker said, “the Ayes have it” and hit the gavel.

The House then mandated its Committees on Aviation and Legislative Compliance to ensure compliance.

News

Senate begins screening of seven ministerial nominees

Published

2 hours ago

October 30, 2024

Naijablitznews

By Francesca Hangeior

The Senate has commenced the screening of the seven newly nominated ministers.

The nominees are Dr Nentawe Yilwatda as Minister of Humanitarian Affairs and Poverty Reduction, Muhammadu Dingyadi as Minister of Labour and Employment, Bianca Odumegwu-Ojukwu as Minister of State, Foreign Affairs, and Dr. Jumoke Oduwole as Minister of Industry, Trade and Development.

Others are: Idi Muktar Maiha as Minister of Livestock Development, Rt. Hon. Yusuf Ata as Minister of State, Housing, and Dr Suwaiba Said Ahmad as Minister of State, Education.

The Senate following a motion moved by the leader, Opeyemi Bamidele at 12:57 pm, on Wednesday suspended its rule to admit the Special Adviser to the President on Senate matters, Basheer Lado, to bring the nominees into the plenary.

The Senate President, GodsWill Akpabio, had on Thursday read the letter from President Bola Tinubu nominating the new ministers.

This development follows President Tinubu’s recent reshuffle of his cabinet, including the dismissal of five ministers: the Minister of Women Affairs, Uju-Ken Ohanenye; Minister of Tourism, Lola Ade-John; Minister of Education, Prof. Tahir Mamman; Minister of State for Housing and Urban Development, Abdullahi Muhammad Gwarzo; and Minister of Youth Development, Dr Jamila Bio Ibrahim.

News

Snapchat gains 11m users worldwide

Published

2 hours ago

October 30, 2024

Naijablitznews

By Francesca Hangeior

Snapchat’s global user base continues to grow, with 11 million new daily active users joining in the last three months, bringing the app’s total to 443 million, an increase of 9%.

However, its user count in the U.S. market has stagnated at 100 million annually.

Snap, Snapchat’s parent company, has struggled to convert its growing user base into profits.

Revenue for the third quarter rose by 15% year-over-year to $1.37 billion, slightly surpassing analyst expectations but the company still posted a loss of $153 million—a 58% improvement from a $368.3 million loss in the same period last year.

Snap’s revenue mainly comes from advertising on the Snapchat platform.

For the upcoming quarter, including the Christmas season, Snap forecasts revenue between $1.51 billion and $1.56 billion, aligning with analysts’ higher estimates.

Following the announcement of a $500 million share buyback, Snap’s stock rose by about 7% in after-hours trading.