Destkelamedia

  In a dramatic turn of events, police forces have taken over the security responsibilities at the main palace of the Emir of Kano, displacing local hunters who had been guarding the reinstated Lamido Sanusi. This development follows escalating tensions and a recent court ruling that invalidated Sanusi's reappointment. The local hunters, known as 'Yan Tauri,' had been drawn from across Kano State to protect the palace amid rumors that federal authorities were planning to relocate Aminu Ado-Bayero, the former Emir who had been removed by the state government. Ado-Bayero is currently under federal protection at the Nasarawa mini palace. According to reports by PREMIUM TIMES, the hunters were stationed at Gidan Rumfa, the main emir's palace, engaging in various activities including playing card games. However, a security team took control of the palace on Sunday evening, compelling the hunters to vacate the premises. The withdrawal of the hunters coincided with a court rul

In a significant political development, Kenyan President William Ruto has announced his readiness to engage in conversations with protesters, a decision driven by mounting pressure from both domestic and international fronts. This move comes amidst escalating civil unrest, primarily fueled by economic grievances and allegations of police brutality. The Kenyan public has been vocal about their dissatisfaction with the rising cost of living, which has been a focal point of the protests led by the Azimio coalition under opposition leader Raila Odinga. Since March, these demonstrations have often turned violent, resulting in numerous casualties. Official reports indicate around 20 deaths, though opposition figures claim the toll to be higher, underscoring the severity of the situation. The international community, including various diplomatic missions and rights organizations like Amnesty International, have urged the Kenyan government to adopt a more peaceful and dialogue-driven approach.

   As Nigerian banks race to meet new recapitalization requirements set by the Central Bank of Nigeria (CBN), many have initiated or finalized plans to raise equity funds through rights issues and public offerings. In a bid to enhance their capital base, NGX-listed banks are leveraging these financial instruments to attract investment from the public. A rights issue allows existing shareholders to purchase additional shares at a discounted rate, while a public offer involves selling shares to the general public to generate capital. Fidelity Bank Plc has taken the lead, launching a significant capital-raising initiative. The bank aims to raise up to N127.1 billion through a combination of a rights issue and a public offer. This initiative allows existing shareholders to increase their stakes and invites new investors to participate in the bank's growth.  Central Bank's New Capital Requirements The CBN's new regulations, effective from April 1, 2024, mandate a tenfold increas

   In the last two decades, around 200 Nigerian politicians and security officers have collectively invested nearly $1 billion (N1.49 trillion) in Dubai's property market, BusinessDay reports. This surge in investments highlights the growing trend of affluent Nigerians securing assets in the UAE's most populous city. Prominent Figures Linked to Dubai Properties Among the notable figures are former Vice President Atiku Abubakar, ex-Kaduna State Governor Nasir Ahmad El-Rufai, and Lateef Olasunkanmi Fagbemi, Nigeria’s Attorney General. They, along with other politically exposed persons (PEPs) and their families, own properties in prestigious areas such as Burj Khalifa, Palm Jumeirah, and Marsa Dubai. Nigerians as Major Property Purchasers Nigerians rank second after Indians in foreign property purchases in Dubai, with 1,824 assets owned. According to BusinessDay’s analysis, 88% of these properties are attributed to PEPs, top security agents, civil servants, and their relatives.  V

    Governor Umaru Bago of Niger State has criticized the National Hajj Commission of Nigeria (NAHCON) for the alleged poor treatment of Nigerian pilgrims in Saudi Arabia. In a series of tweets, the governor expressed his concerns about the inadequate provision of food for the pilgrims, resulting in many falling sick. Governor Bago highlighted several issues with NAHCON’s management of the pilgrimage, particularly their handling of food arrangements. He argued that NAHCON should not impose Arabian cuisine on Nigerian pilgrims, which has led to health problems for many. > “NAHCON has no business in chartering flights; it is not their business to feed the pilgrims because of the food,” Bago stated. “For example, I am from Niger State. If you allow me to feed pilgrims, I will be able to trans-ship foods that people are locally used to, to Saudi Arabia to feed my own pilgrims.” Bago emphasized the importance of providing familiar food to the pilgrims to prevent health issues and starvat

  As Nigeria faces one of its most severe economic crises in decades, the rising cost of living has driven many citizens to obtain credit facilities worth N3.82 trillion from banks as of January 2024. This data, released by the Central Bank of Nigeria, highlights the financial struggles of Nigerians grappling with soaring inflation and dwindling purchasing power. An analysis of the latest monthly economic report reveals a significant increase in consumer credit, rising by 11.9% from December 2023 to January 2024. The total consumer credit in January 2024 stood at N3.82 trillion, marking a year-on-year increase of N1.41 trillion from N2.41 trillion recorded in January 2023. The report shows that personal loans have been a major driver of this increase, growing by 14.3% to N3.028 trillion from N2.648 trillion in December 2023. Meanwhile, retail loans rose by 3.6% to N794.79 billion. Personal loans now account for 79.2% of consumer credit, underscoring the financial pressures faced by ind

Supports Police Measures to Protect Council Secretariats The Rivers State chapter of the Association of Local Government of Nigeria (ALGON) has issued a stern warning against the immediate past chairmen of local governments in the state, accusing them of plotting to incite violence through a planned protest.  In a press briefing held on Sunday, Hon. Ichemati Ezebunwo, representing the 23 Local Government Council Caretaker Chairmen, revealed that the former chairmen, whose tenures recently ended, are allegedly collaborating with former members of the Rivers State House of Assembly and National Assembly members loyal to FCT Minister, Chief Nyesom Wike, to orchestrate mayhem in the state. Ezebunwo detailed that credible information indicates the group intends to protest against the police, using the opportunity to create disorder in the state. He urged the public to reject such malevolent plans, emphasizing that the instigators would be held accountable for any resulting disruption. "