By Kayode Sanni-Arewa

Nigeria and China have renewed the currency swap agreement between both countries.

The renewal is valid for three years and can be renewed upon mutual consent.

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, who shared the information on his social media account, said China’s central bank confirmed on Friday that it has renewed a bilateral currency swap agreement with the Central Bank of Nigeria (CBN).

The total value of the agreement is 15 billion yuan (about 2.09 billion U.S. dollars), or 3.28 trillion Nigerian naira, the People’s Bank of China said in a statement on its website.

It said that the renewal of the currency swap arrangement will strengthen financial cooperation between China and Nigeria, expand the use of the two currencies, and promote and facilitate bilateral trade and investment.

Recall back in 2018, the CBN and its Chinese counterpart, signed a currency swap deal after two years of negotiations between the two countries.

The deal, valued at about $2.5bn, is aimed at providing adequate local currency liquidity to Nigerian and Chinese industrialists and other businesses, thereby reducing the difficulties encountered in the search for third currencies.

The move is also aimed at facilitating bilateral trade and investment and promoting the financial stability of both countries.

By Kayode Sanni-Arewa

Governor Lucky Aiyedatiwa of Ondo State has immortalised his predecessor, Rotimi Akeredolu, as he announced that the new High Court complex to be constructed in the state would be named after the departed ex-governor.

Aiyedatiwa disclosed this while speaking during the flag-off of the construction of the new high court complex also called the Judiciary Village in Akure, the state capital, on Friday.

Aiyedatiwa described the project as a historic milestone for the state, adding that it was conceived under the leadership and vision of the late Akeredolu.

He said, “This is a milestone celebration as we flag off the construction of a new high court complex in our dear state.

“Since the creation of Ondo State in 1976, no attempt has been made to provide a modern edifice for the administration of justice.

“Today, we are not only making history but also fulfilling a long-standing dream of the judiciary.

“This development is the actualisation of the dream and vision of our late leader, Arakunrin Oluwarotimi Akeredolu.

“He desired to provide a state-of-the-art high court complex to enhance the workload and welfare of our judiciary.

“Naming this project the Oluwarotimi Odunayo Akeredolu Judiciary Complex is a fitting way to immortalise his legacy.”

Highlighting the importance of embarking on the project, the governor expressed his administration’s commitment to the advancement of justice and the welfare of judicial officers in the state.

“Let me state with all sense of responsibility that we are embarking on this project at this time not because the state is too buoyant financially but because of our commitment to providing a good working environment with modern facilities that will enhance the welfare of our judicial officers, workers and people seeking justice, with the overall aim of speeding up the dispensation of justice in Ondo State.

“This complex will include a ceremonial court, modular courts, a registry, a library, exhibition buildings, a utility building and modern parking facilities.

“It’s designed to create a conducive environment for the administration of justice and to speed up the dispensation of justice in Ondo State,” he stated.

Earlier in his welcome remarks, the state’s Chief Judge, Justice Olusegun Odusola lauded the initiative, describing it as a landmark achievement of the current administration in the state.

By Kayode Sanni-Arewa

Al Nassr and Portuguese forward, Cristiano Ronaldo was named the best player in the Middle East at the 2024 Globe Soccer Awards ceremony held in Dubai earlier on, December 27.

The organizers of the 2024 Globe Soccer Awards ceremony honoured Real Madrid president Florentino Perez with the career-recognition award tagged “The greatest president of all time”.

Former England and Manchester United defender Rio Ferdinand alongside Alessandro Del Piero, Neymar, and Thibaut Courtois were also given lifetime achievement awards.

It was a night for Real Madrid and members of the team as the club’s coach, Carlo Ancelotti was named Best Coach at the Globe Soccer Awards. His player, Vinicius Junior, was named Best Men’s Player of the Year, while Jude Bellingham won the Best Midfielder award.