Connect with us

News

Bola Tinubu Signs N2.17 Trillion 2023 Supplementary Budget

Published

on

In a significant move for Nigeria’s financial landscape, President Bola Ahmed Tinubu has given his assent to the N2.17 trillion supplementary budget, paving the way for a transformative fiscal year.

President Tinubu’s request for the supplementary appropriation bill was met with a swift response from the Nigerian Senate.

The bill, forwarded to the Senate last week Thursday, was promptly considered and approved during the plenary session.

Prior to the bill’s passage, the Senate embraced a harmonized report from the sessions of both the upper and lower chambers on the 2023 Supplementary Appropriation Bill, as submitted by Senator Adeola.

This supplementary budget swiftly passed through readings in both the upper and lower chambers of the National Assembly, with lawmakers emphasizing its significance for the nation’s welfare.

Senator Adeola’s committee diligently examined the budget’s details, working closely with the leadership of relevant sub-committees and the heads of ministries, departments, and government agencies to ensure comprehensive scrutiny.

After a meticulous clause-by-clause review of the Appropriation Bill, the Senate, with unanimous consensus, adopted the Committee’s report, returning the bill to the President without any alterations.

ALSO READ:  AFCON 2023: Sports minister secures N200m support for Super Eagles

News

Appea Court Lack Jurisdiction To Declare Abure As The National Chairman Of LP – Supreme Court

Published

on

The Supreme Court has overturned the Court of Appeal’s decision that recognised Julius Abure as the National Chairman of the Labour Party (LP). In a decisive ruling, a five-member panel declared that the Court of Appeal lacked the legal authority to determine the party’s leadership matters.

In a unanimous verdict, the highest court in the land stated that the Court of Appeal had no jurisdiction over the matter. The panel observed that since the case revolved around the internal leadership structure of the Labour Party, it fell outside the jurisdiction of the courts.

The ruling reinforced the long-standing principle that leadership disputes within political parties should be resolved internally, rather than through judicial intervention.

The Supreme Court stressed that leadership struggles within political parties are purely internal matters. According to legal principles, courts should not interfere in such issues, as they fall under the party’s constitution and governance framework. By upholding this legal doctrine, the apex court reaffirmed that political parties must settle their leadership crises independently.

The Supreme Court upheld the appeal lodged by Senator Nenadi Usman and a fellow appellant, ruling that their claims were valid. Their appeal challenged the earlier judgment, arguing that it was flawed due to jurisdictional overreach. After thorough legal scrutiny, the Supreme Court found merit in their argument and ruled in their favour.

The legal battle also involved a cross-appeal filed by supporters of Julius Abure, who sought to challenge the decision against their leader. However, the Supreme Court dismissed this cross-appeal, declaring it unsubstantiated and lacking merit. The ruling effectively ended the legal contest over the Labour Party’s chairmanship, cementing the judiciary’s stance on non-interference in party leadership disputes.

ALSO READ:  CCN Advocates Law to Combat Stigmatization of HIV/AIDS Patients in Nigeria
Continue Reading

News

Bitcoin Drops to $82,000 After Trump’s Tariff Announcement

Published

on

Bitcoin experienced sharp fluctuations following President Donald Trump’s April 2 tariff announcement, initially surging to $88,000 before dropping to $82,000.

By April 3, it stabilized around $83,000, with the broader crypto market down over 4%. Major altcoins like Ethereum and Solana also declined over 6%, hitting multi-month lows.

Analysts see the tariff news as reducing market uncertainty, potentially attracting institutional investors.

Despite higher-than-expected rates, experts believe the clarity could help Bitcoin regain momentum toward $90,000. Bitcoin ETFs, led by BlackRock, recorded $218 million in inflows on April 2, reversing prior outflows.

Kraken’s Thomas Perfumo challenged the idea that institutional interest stabilizes crypto, emphasizing that volatility signals demand for a scarce asset.

Some analysts viewed the sell-off as an overreaction to trade policy concerns, highlighting Bitcoin’s resilience as a store of value.

With ETFs showing strong demand, Bitcoin’s price may stabilize and rise, though market participants remain cautious, monitoring trade policies and economic conditions.

ALSO READ:  AfCFTA: Don enjoins African countries to utilise waterways
Continue Reading

News

Clashes In South Sudan: 30 People Kill

Published

on

Violent clashes between pastoralist groups and settled farming communities have long been a challenge in South Sudan.

However, the recent outbreak of violence in the northern Ruweng Administrative Area has further heightened concerns over the nation’s fragile peace. At least 30 people lost their lives after an armed youth group launched a brutal attack on a northern South Sudanese town, according to local officials.

The incident, linked to an escalating cattle raid, saw the town briefly fall under the control of the attackers before security forces regained control.

The violence began when a group of armed youth stole lambs earlier in the week. Security forces quickly intervened, forcing the raiders to retreat. However, instead of dispersing, the group reorganised and launched a more aggressive attack on Abiemnom the following day.

Local Minister of Information, Simon Chol Mialith, confirmed that despite resistance from local youth and security personnel, the town was overrun by the Mayom armed youth. The attack led to significant casualties and destruction before security forces were able to reclaim the town.

On Wednesday, the South Sudan People’s Defence Force (SSPDF) successfully pushed the attackers out, restoring a semblance of calm. However, the scale of the destruction was already severe, with over 40 individuals injured in addition to the fatalities.

Although reports suggest that some of the deceased were members of the armed groups, official confirmation remains pending.

The attack comes at a time of growing instability in South Sudan, with tensions between forces loyal to President Salva Kiir and First Vice President Riek Machar intensifying. This political rivalry threatens to unravel the delicate 2018 peace agreement that ended the nation’s five-year civil war.

ALSO READ:  Nigerian Delegates Denied IATF Visa Seek Redress

Since gaining independence in 2011, South Sudan has struggled with continuous unrest. Despite its vast oil resources, the country remains impoverished, with conflicts like these exacerbating economic and social difficulties.

Continue Reading