Voice Air Media, VAM News Update
Summary from Nigerian Newspapers update and fact for Monday, March 11th, 2025:
• The international business research firm, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the liquidity to support the naira as of now, saying only foreign borrowing can solve the currency issues. It stated this in its latest Country Report on Nigeria, which was published on Friday.
• The Sultan of Sokoto, Sa’ad Abubakar, has declared today (Monday) March 11, 2024, as the first day of the month of Ramadan. The Sultan, who is the spiritual leader of Muslims in Nigeria, said the declaration was based on the sighting of the moon in almost every part of the country earlier on Sunday.
• The Transmission Company of Nigeria, on Sunday, declared that one of its critical infrastructures, the Shiroro-Katampe 330kV transmission line, was vandalised, making it the fifth of such incidents between February and March this year.
• The Presidency has denied allegations of padding the 2024 budget by an additional N3tn. This followed accusations by Senator Abdul Ningi of Bauchi Central (PDP) that the executive is implementing a budget other than the one approved on January 1, 2024.
• The Federal Government on Sunday disclosed that 55,000 licensed doctors are in the country to attend to the growing population of patients following the exodus of health professionals to hospitals and health facilities abroad. It said in the last five years, the country lost about 15,000 to 16,000 doctors to the Japa syndrome, while about 17,000 had been transferred.
• The Magistrates’ Court sitting in Ikorodu, Lagos State, is set to hear a suit seeking a Deoxyribonucleic Acid test for Liam, the son of the late singer, Ilerioluwa Aloba, also known as Mohbad. This was confirmed in a statement signed by a member of the family’s legal team, Monisola Odumosu.
• The Central Bank of Nigeria, CBN, has strengthened its pre-emptive surveillance of banks to unearth infractions and ensure compliance with extant rules and guidelines. The banks have been under intense criticism in recent periods for alleged complicity in economic crimes. The Economic and Financial Crimes Commission, EFCC, estimated that some 70 per cent of financial crimes in the country could be traced to the banking sector.
• Thousands of indigenes and residents of Edo North Senatorial District on Sunday peacefully protested against the plot to impeach Edo State Deputy Governor, Philip Shaibu. The protesters asked Governor Godwin Obaseki to give peace a chance.
• Governors of the 36 states of the federation say they have been introducing different strategies and measures to end the current economic hardship and food crisis in their states. In a report signed by its Acting Head of Media, Halimah Salihu Ahmed, the Nigeria Governors Forum, NGF, said the governors were committed to ending the pain and suffering of citizens in the land.
• The Economic and Financial Crimes Commission has disclosed that 37 suspected Internet fraudsters arrested by its operatives in different parts of the Federal Capital Territory, Abuja, will be arraigned in court upon the conclusion of an investigation. According to a statement on Sunday, the suspects were arrested on Wednesday after multiple raids on the Jahi, Dawaki, and Gwarimpa areas of the FCT.
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