As of November 2024, Nigeria has seen its currency in circulation hit a record high of N4.8 trillion, marking a seven per cent increase from the previous month. This surge comes at a time when Nigerians are facing cash shortages, with banks limiting daily withdrawals from ATMs to N20,000 per account holder.

Additionally, currency outside of banks reached an all-time high of N4.6 trillion in November, up from N4.2 trillion in October, according to data from the Central Bank of Nigeria (CBN).

Economist Dr. Paul Alaje explained that the increased money supply is likely contributing to inflation. He highlighted the impact of rising prices on everyday goods and how it can lead to inflation. Dr. Alaje also criticized the CBN’s efforts to control money supply through interest rates, stating that it may not be an effective solution.

With the ongoing challenges facing Nigerians in accessing cash, coupled with the rise in currency circulation and inflation, it remains to be seen how the government and central bank will address these concerns in the future.

Some top Fulani leaders from the Shinkafi, Moriki, and Zurmi regions of Zamfara State convened a pivotal meeting with the notorious bandit leader, Bello Turji, at Ruga Chida, situated east of Kware town. This meeting was primarily aimed at persuading Turji to reconsider his recent threats to instigate violence in the region.

Intelligence sources told Zagazola Makama that during the discussions, the Fulani leaders appealed to Turji to lift his blockade of the Shinkafi-Gusau road and abandon plans to attack vulnerable communities in the Isa and Sabon Birni local government areas, along with other settlements in Zamfara and Sokoto States.

Turji’s threats have been reportedly triggered by the government’s detention of some of his close associates including Wurgi, who was arrested in recent weeks.

The intervention by the Fulani leaders, commonly referred to as Ardo Ardo (community leaders), represents a significant effort to de-escalate the rising tensions within the region.

Their optimistic outlook suggests that their appeals may lead Turji to soften his resolve, which he has publicly stated he would intensify in 2025 if his demands are not fulfilled, including threats of kidnappings and killings.

However, sources indicate that Turji has not made any firm commitments to halt his intentions. Despite this uncertainty, the ongoing dialogue is perceived as a constructive step towards reaching a peaceful resolution.

The Rivers State House of Assembly has frowned upon the presentation of the 2025 Appropriations Bill by Governor Siminalayi Fubara to the three-member Assembly led by Victor Oko-Jumbo loyal to him.

This was the theme of Tuesday’s plenary during which the House Judicial Committee led by the deputy speaker, Dumle Maol, presented the Court of Appeal judgement which affirmed the legitimacy of the House as well as the Speakership of Martin Amaewhule.

The deputy speaker then criticised the governor for disobeying the judgement.

Two other lawmakers also expressed their very strong displeasure at the governor’s actions, with a member, Smart Adoki, suggesting the judgement be submitted to security agencies for action.

In his remarks, the Speaker lamented the penchant of the governor for flagrant disregard for law and order.

On Monday, Fubara presented the 2025 budget proposal of ₦1.1 trillion to the Victor Oko-Jumbo-led Assembly.

Fubara had described the 2025 Budget as a blueprint for consolidating the achievements of his administration in 2024 while charting a new course for sustainable development.

Highlighting the performance of the ₦800 billion 2024 budget, the governor stated that Rivers State recorded significant milestones, particularly in economic growth and revenue generation.