News
N’Assembly plans N28.77tn budget review over naira fall

The National Assembly would need to revisit the N28.77tn 2024 budget, the Senate has said.
The Red Chamber explained that there was a need to revisit the budget following the incessant fall of the naira against the United States dollar.
The National Assembly has passed a harmonised 2024 budget Appropriation Bill totalling N28.77tn which was eventually passed on January 1, by President Bola Tinubu.
The National Assembly increased the bill by a total of N1.2tn, moving the budget from N27.5tn to N28.7tn.
The Senate also benchmarked the exchange rate at N800 per dollar, moving it from the initial N750 per dollar initially pegged by the Federal Government.
Proffering reasons for the increment, in December, the Chairman of the Senate Committee on Appropriation, Solomon Adeola, explained, “The current price of the dollar at the black market is between N1200 and 1300, and in the Central Bank of Nigeria, it is between N950 and N1000 and we have a budget which was pegged at N750, if you look at the gap, you’d realise that has covered a lot of gaps already.
“Again, we did some external consultations, most especially in the area of oil benchmark and petroleum resources, if we had gone in that line, we’d have pegged it at N850/N900 to a dollar and we agree that we want to be conservative in our approach, so that nobody will think that we want to increase the budget for any ulterior motive, that was why we left it at N490bn out of which N44bn is for statutory transfer, so effectively, the increment is about N446bn that is going into the Federal Government pocket as consolidated revenue.”
In an exclusive interview with Sunday PUNCH, Senator Adeola said certain actions need to be taken concerning the 2024 budget as the variables upon which the budget was built could no longer stand.
He said, “Yes, it is true that the budget was passed at N800 to a dollar but as we speak, it’s no longer visible as the dollar currently stood at N1450 to a naira.
“And I can tell you that there is a need for us to revisit the budget as the variables upon which the budget is predicated are no longer there. So all we need to do is just take our time and do some internal workings within the landing cost of petroleum product per litre of fuel.
“After this, we can now collaborate with the current budget that we have so that we can give NNPC what the actual figure for this landing cost will be, and then any savings arising from that can be planned upon for a supplementary budget or reallocation of some project within the budget,” he added.
News
HAJJ! Saudi Arabia releases fresh 2025 rules, bars kids, updated visa policies

By Kayode Sanni-Arewa
Saudi Arabia has announced fresh changes to the 2025 Hajj pilgrimage, including a new restriction barring children from participating.
The Ministry of Hajj and Umrah stated that the move aimed to protect children from potential dangers posed by heavy crowds during the pilgrimage.
The decision is part of broader efforts to ensure a safer and more seamless Hajj experience.
According to the ministry, the large crowds during Hajj pose serious risks to children, making this precautionary measure necessary.
Additionally, priority for the 2025 Hajj will be given to first-time pilgrims to allow more Muslims the opportunity to undertake this religious obligation at least once in their lives.
● Changes in visa regulations
Starting February 1, 2025, Saudi Arabia will issue only single-entry visas for pilgrims from 14 countries, including India, to prevent unauthorized Hajj participation.
Authorities noted that unauthorized pilgrimages had contributed to overcrowding at key sites, making crowd management and safety more challenging.
The updated visa policy aims to improve the overall Hajj experience by controlling the number of attendees.
Saudi authorities continue to refine Hajj regulations to make the pilgrimage safer and more organized.
Pilgrims are encouraged to register through official channels and follow the new guidelines to avoid complications.
Meanwhile, Saudi Arabia had also introduced significant changes to its visa policy, effective February 1, 2025, limiting travellers from 14 countries to single-entry visas.
This move aims to address concerns over unauthorized Hajj pilgrims entering the country on long-term visit visas.
● Affected Countries
The new regulations target travellers from the following nations: Algeria, Bangladesh, Egypt, Ethiopia, India, Indonesia, Iraq, Jordan, Morocco, Nigeria, Pakistan, Sudan, Tunisia, and Yemen. As part of the policy shift, the Saudi government has indefinitely suspended the one-year multiple-entry visas for tourism, business, and family visits from these countries.
●¡Hajj registration and new payment options
Saudi citizens and residents can register for the 2025 Hajj season via the Nusuk app or the official website. Applicants are required to verify their personal details and register their travel companions.
A new instalment-based payment plan has also been introduced for domestic pilgrims. Payments can be made in three stages: a 20% deposit within 72 hours of booking, followed by two 40% instalments due by Ramadan 20 and Shawwal 20. The ministry clarified that reservations will only be confirmed once the final payment is received.
News
EFCC drags man to court for refusing to accept naira as legal tender

By Kayode Sanni-Arewa
The Economic and Financial Crimes Commission (EFCC) on Wednesday, February 5, 2025, arraigned Precious Uzondu on a two-count charge bordering on alleged refusal to accept naira as a legal tender before Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
One of the counts read: “That you, Precious Chimaobi Uzondu, on the 10th of December 2024, in Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (Nigeria’s legal tender) by accepting the sum of $5700 (Five Thousand Seven Hundred USD) as a means of payment for a purchase of a Carter diamond bracelet with serial number (12345678) and you thereby committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”
The defendant pleaded not guilty to the charges.
Given his pleas, prosecution counsel, Hannatu Naisa, prayed the court for a trial date and for the defendant to be remanded in a correctional centre.
Counsel to the defendant, Jennifer Achinuagole, informed the court of a pending bail application and prayed the court to adopt the same as her oral application.
Responding, Naisa informed the court about a counter-affidavit and a written address to the application. She prayed the court to accept the same and discount the application by the defendant.
After listening to both parties, Justice Owoeye admitted the defendant to bail in the sum of N5 million, with two sureties in like sum. The sureties must own landed property in Lagos which must be verified by the court and also swear to an affidavit of means.
The judge also ordered the defendant’s remand in the Ikoyi Correctional Centre and adjourned till April 8, 2025, for the commencement of trial.
News
SAD ! NYSC Member Beaten To D3ath In Plateau

By Kayode Sanni-Arewa
Police in Plateau State confirmed that a member of the National Youth Service Corps (NYSC), Safwan Fade, has died after being attacked by a group of people.
According to report the ugly incident occurred in Pankshin Local Government Area when a group of men stormed a local stadium.
Fadec was serving with the Federal University of Education in Pankshin.
Plateau State Commissioner of Police, Emmanuel Adesina, said at the Command’s headquarters in Jos on Tuesday that two male suspects –Samuel Dang Kat and Zatshinen Wubwerwe – have been arrested in connection with the attack.
The commissioner said, “On 23/01/25 at about 07:00am, we received a report from one Umbule Boreng Reuben of Pankshin LGA, who reported that on 22/01/25 at about 06:00pm, one Safwan Adamu Fade, an NYSC corps member serving at FCE Pankshin was reportedly beaten and severely injured by unknown hoodlums at the Pankshin township stadium.
“Upon receipt of the report, I immediately directed the DPO of Pankshin division to lead a team of policemen to the scene where the victim was quickly rushed to the hospital for medical attention.
“The victim was treated and declared stable by the Medical Doctor on duty. The victim was later transferred to Jos University Teaching Hospital (JUTH) as a result of some complications. The victim eventually died in the process.
“In the course of our investigation, two suspects, one Samuel Dang Kat and Zatshinen Wubwerwe, both male, have been identified and arrested in connection with the case. Efforts are being intensified with a view to apprehend the fleeing suspects and charge them to Court.”
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