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The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar and the new rate has been reflected on the portal of the Nigeria Customs Service. A few weeks ago the rate was increased from N783/$ to N952/$. In November, the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase, and was later raised from N783/$ to N952/$ in December.

A law has been passed by the Anambra State House of Assembly on Thursday which bans the public display of caskets for fabrication and sale in the state.          The Anambra State Governor, Charles Soludo By this law, all mortuary attendants are to report to the Ministry of Health on any corpse that has stayed beyond one month from the date it was deposited. The State seeks to control burial and funeral activities in the state. It cautioned that any person who violates the conditions will be fined N100,000 or six months imprisonment or both. Also, the new law warned against blocking roads and streets during burial ceremonies. It advised that this can only be done with permission from the appropriate Local Government Authority. further stipulated that all burial and funeral ceremonies of indigenous deceased persons in the state shall be registered with the town union of the deceased. Reacting, the state governor, Chukwuma Soludo, in a terse message on Friday commended the assembly for t

The former  Governor of Ekiti State, Ayodele Fayose, has a very outspoken brother and this time, Isaac Fayose, the brother to the former Governor is calling on President Bola Tinubu to auction dollars of politicians or any Nigerian seen storing huge amount of the dollars. He also advised that domiciliary accounts  should not be above $1,000 to tackle naira free fall against dollar. Isaac Fayose. He made the following comment ; “President Tinubu, you have to be wicked. Don’t laugh”, said Mr Fayose in a viral video on social media on Thursday.  “If you want dollar to come down just come on TV and tell all of who have domiciliary account that if you see more than 1,000 in private account you will seize or auction it and replace with naira.”

Universal Music Group will no longer allow its music on TikTok following the Wednesday expiration of a licensing deal between the two companies. The takedown of UMG-related music began overnight.  Universal Music Group is literally the largest record label ... in the history of the music industry,” said Andrew Mall, an associate professor of music at Northeastern University. An “uncountable number of tracks and sounds” would be impacted on TikTok, he added, significantly limiting options for creators." The expiration of licensing between UMG and TikTok arrived after the two companies were unable to reach a new agreement — and soon shared heated exchanges. In a Tuesday letter addressed to artists and songwriters, UMG said that it had been pressing TikTok on three issues: “appropriate compensation for our artists and songwriters, protecting human artists from the harmful effects of AI, and online safety for TikTok’s users.” UMG said that TikTok proposed paying its artists and songwr

On Thursday, the Federal High Court in Ikoyi, Lagos, convicted an actress, Oluwadarasimi Omoseyin, of spraying and stepping on new Naira notes at a friend’s wedding in Lagos.                       Oluwadarasimi Omoseyin Oluwadarasimi Omoseyin was sentenced by Chukwujekwu Aneke, the trial judge at the court proceeding, to six months’ imprisonment but with an option of N300,000 fine. A statement by Dele Oyewale, the Head, Media & Publicity of the Economic and Financial Crimes Commission (EFCC), the prosecuting agency. A video clip of Oluwadarasimi Omoseyin spraying new Naira notes at a wedding in Lekki, Lagos State, on 28 January 2023 went viral on social media platforms. Oluwadarasimi Omoseyin was arrested on 1 February 2023. Her performance was at a period that there was a severe scarcity of Naira notes following the Central Bank of Nigeria (CBN)’s withdrawal of old 200, 500 and 1000 Naira notes from circulation and replacement of the affected currency notes with newly designed ver

Do you know that the shoes won by the Wizard of Oz was once stolen?                   Shoes Worn by Wizard of Oz, Iconic Yes, it was stolen in by a man named Terry Jon Martin. It was taken not by permission of course, from a museum in 2005.  The ruby slippers shoes, the iconic shoes worn by Judy Garland in The Wizard of Oz.                        Cast from the Wizard of Oz The iconic film was released the same year that World War II broke out, in 1939.  It is the earliest major Technicolor pictures, the film was a big-budget feat, and one that won two Oscars and catapulted Judy Garland into the limelight.  Don't feel sad, you will get to see the shoes again because it has been recovered.  Hurray! Yes! Finally recovered by investigators in 2018. Terry Jon Martin, the man who stole the shoes was sentenced to time served and one year of probation after he pleaded guilty to stealing the iconic shoes worn by Judy Garland in The Wizard of Oz.  The reformed thief come out of retirement to

Bureau De Change operators have announced shut down of operations in Abuja as a result of unavailability of the dollars,  The Chairman of the association, Abdullahi Dauran, made the announcement on Wednesday. The chairman of the Association of Bureau De Change Abuja chapter, issued the directive to stop sales as the exchange rates in both the official and parallel markets have become unfavourable. Dauran attributed the closure to online business transactions and cryptocurrency. Echoblog spoke to Jamilu a BDC owner who also confirmed the news. The closure of business would take effect from Thursday, February 1, 2024. On Tuesday naira closed at an all-time low of N1,482 against the United States dollar on the official window. It stayed stable at N1,450/$ at the parallel market.

The Senate Committee on Banking, Insurance and other Financial Institutions, is summoning the Governor of Central Bank of Nigeria, Olayemi Cardoso, to appear before it on Tuesday next week.          The CBN Governor - Olayemi Michael Cardoso The naira plummeted to N1,520 to a US dollar on Wednesday, prompting the Committee, chaired by Senator Adetokunbo Abiru (APC Lagos East), to summon the CBN governor, to proffer a way out of the free fall of naira in the forex market. The Senate held the meeting behind closed doors,  Abiru, thereafter addressed journalists, he said the state of the economy, especially the inflation index, was of great concern to the lawmakers. He highlighted that, “We have held a meeting this afternoon essentially to focus on the direction of the Nigerian economy. “We are all living witnesses of what is going on. Underlining the major issue of the economy is the way the inflation index has been and of course, it is a major concern to us. “We have deliberated among o