Category: 📈Trends

A video of a little girl braiding someone’s hair like a professional has stirred massive reactions from netizens.

In the video shared on TikTok by @dewisdomstriker, the little girl braided the customer’s hair neatly as someone filmed her.

Her fastness and ability to look away while still braiding the hair stunned netizens who applauded her in the comments section.

Due to her height, she sat on a high chair in the video to enable her to reach the hair of the customer.

The video stirred reactions from netizens who were shocked by the little girl’s ability. They however advised that her education should be focused on.

@vndrewMwiko said: “And mine the only thing I know she knows is Cocomelon.”

Rosydiamond said: “You pol writing she is suppose to be in sch did she tell u she is not going to sch such an amazing child.”

@maryamu tranus reacted: “This is what school should add in thier syllabus so that children will grow up with skills.”

Joyful Endurance said: “And she dey comot face self dey do am… And me l never still know my talent for 300 level way I dey for school.”

Ephiyarh Chripsy claire said: “Who else saw the small gal braiding faster as an adult.”

Lovely gal said: “Here I am 36 yrs and I can’t even style my hair.”

Nky_mary123 reacted: “All these people that are talking about school should rest jor. compliment the child first. this type of child will always come back with 1-5 position.”

Dolland Kelly said: “As she learns this, her education should not be taken for granted. it will both open doors for her.”

Watch the video below:

https://www.tiktok.com/@dewisdomstriker/video/7350959687589842182?pid=video_embed&referer_video_id=7350959687589842182&type=video&referer_url=www.gistreel.com/her-fingers-are-so-fast-like-machine-reactions-as-little-girl-braids-customers-hair-like-a-pro/&refer=embed&embed_source=121374463,121404359,121331973,120811592,120810756;null;embed_pause_share

 

The University College Hospital, Ibadan (UCH), Oyo State, has admitted that it owes the Ibadan Electricity Distribution Company up to N495m, for which reason the teaching hospital was disconnected from public power supply.

This was as doctors, nurses, and other staff of the hospital refused to work beyond 4.00 pm unless power is reconnected.

UCH Public Relations Officer, Mrs Funmilayo Adetuyibi, confirmed in an interview with The PUNCH Tuesday that the hospital’s electricity debt was over N400m, contrary to her initial claim.

Recall that the UCH was disconnected by the IBEDC on March 19, the third time in less than two months.

Giving reasons for the disconnection, the Ibadan DisCo said it disconnected the hospital after attempts to engage with the hospital’s management regarding the N495m debt, which it said had persisted for over six years.

But the UCH spokesperson had last week denied owing N495m, saying the current UCH administration, led by Prof. Jesse Otegbayo, assumed office on March 1, 2019, and inherited over N27m as of February 27, 2019.

She added that it had since ensured the monthly payment of bills brought by IBEDC.

However, when Adetuyibi was contacted on Tuesday that the IBEDC spokesperson, Busolami Tunwase, had insisted that the debt was N495m, she admitted that there was an error while writing her initial rejoinder.

Adetuyibi said the hospital needed help to settle the debt, stating that it was soliciting funds.

“The truth of the matter is that we are owing IBEDC and we need help. Help is the main thing. We are soliciting for funds; help is what we need.

“The amount is N495m; leave it at N495m. There was an error while we were sending the rejoinder, which I rectified and sent the corrected version. So, let’s leave all these and let’s look for help.

“That’s what we actually need. It’s the help that we need,” she said in a phone conversation.

Meanwhile, workers in the hospital had embarked on what they called down-scaling, working from 8.00am to 4.00pm every day until power was restored.

The worker also threatened to go on a seven-day strike if the hospital was not reconnected before Tuesday, April 9.

The Joint Action Committee Chairman, Oludayo Olabampe, told our correspondent exclusively that this would affect patients on admission and as no one would be available to attend to them in the evening.

Olabampe noted that those on admission would need to be discharged, and there would be no new admissions for now.

“From today (Tuesday), we will be ending our services by 4.00pm. Our services will be only between 8.00am and 4.00pm; no call duties, no shift duties, and no 24-hour services until when power is restored. From downscaling, we will go on a seven-day warning strike after a 14-day ultimatum that started counting on March 27.

“This will affect patients on admission because the nurses that attend to patients in the ward will close by 4.00pm. Imagine leaving the patients to be on their own from 4.00pm till 8.00 am. So, there won’t be further admission and those on admission now will have to be discharged. Also know that from 4 pm upward, if there are patients in the theatre for surgery and there is the need for blood, if you get to the blood bank, nobody will attend to you after 4 pm.

“If you need one test or the other, you won’t meet anybody in the laboratory. Radiographers will not be available, and even the dietitians who will be in charge of their meals will not be there for dinner. By now, I expect that whoever is having children in the incubator has tried to transfer them to where there is a better power supply,” he said.

Olabampe joined the hospital in seeking help to offset the N495m bill, saying “UCH does not have the money to pay the debt”.

The Federal Government and the International Criminal Police Organisation have commenced the process of extraditing a Binance chief, Nadeem Anjarwalla, who escaped from detention on March 22.

Security agencies had in February arrested Anjarwalla and Tigran Gambaryan, two executives of the crypto-currency firm, Binance Holdings Limited, over alleged money laundering.

They were detained in ‘a safe house’ in Abuja on the order of the National Security Adviser, Nuhu Ribadu.

Among other charges, the firm and the two executives were arraigned for $35,400,000 money laundering at the Federal High Court, Abuja.

But on Friday, March 22, Anjarwalla escaped from detention and left the country using a Kenyan passport.

On Tuesday, top government sources confirmed  to The PUNCH that the process of extraditing the fugitive had begun.

The sources noted that Anjarwalla’s absence would not affect the arraignment of Binance and Tigran and Gambaryan in court on Thursday over a five-count money laundering charge.

“Mr Anjarwalla’s extradition process has begun. The Federal Government is working as did with INTERPOL to extradite the fugitive to Nigeria. He’s a fugitive that escaped from lawful custody, and his other partner is still in custody and would be arraigned on Thursday alongside their company, Binance,” a source noted.

Another source revealed, “It is true that the Federal Government has commenced the process of extraditing Binance’ Anjarwalla in order to bring him back to Nigeria to answer to his money laundering case in court, among others. The arraignment of Binance and Gambaryan in court on Thursday will also aide Anjarwalla’s extradition.”

Meanwhile, a top security source confirmed to our correspondent that the soldiers detailed to monitor Anjarwalla were being grilled by special investigators drawn from the military, Department of State Services, the police, Economic and Financial Crimes Commission and the National Intelligence Agency.

“The soldiers detailed to monitor Anjarwalla have been detained as you know, and they’re still being grilled by special investigators drawn from various security and intelligence agencies and services- the military, DSS, NIA, and the police, all hands are on deck as it is a matter of national security.”

Meanwhile, the EFCC will on Thursday arraign Binance Holdings Limited and two of its senior executives Gambaryan; and Anjarwalla, th fugitive over alleged $35,400,000 money laundering.

The EFCC had on Thursday, March 28, charged Binance Holdings Limited, Gambaryan, Anjarwalla with $35,400,000 money laundering.

The EFCC which has now fully taken over the case from the Office of the National Security Adviser, has also detained Gambaryan, and obtained a court warrant to arrest and extradite Anjarwalla.

Confirming the development to our correspondent on Friday, impeccable sources noted that Anjarwalla would be arraigned in an absentia alongside Binance and Mr Gambaryan who’s now in EFCC custody.

“The detained Binance executive, Gambaryan is now in custody of the EFCC. The NSA has totally handed over the matter to the EFCC for investigation and prosecution. The commission has charged Binance, Gambaryan and Anjarwalla to court for $35,400,000 money laundering, and they’ll be arraigned in court on Thursday, April 4, 2024.” a source noted.

Another source revealed that, “The EFCC is now partnering the International Criminal Police Organisation, the United States’ Federal Bureau of Investigation, the government of the United Kingdom of Great Britain and Northern Ireland, and the Kenyan government, to effect the arrest and extradition of Mr Anjarwalla, the fugitive who fled from lawful custody in Nigeria.”

Following the takeover of the investigation into the alleged financial irregularities committed by Binance, the EFCC had filed five-count charges bordering on money laundering against the crypto-currency giant and two of its executives, Anjarwalla and Gambaryan.

The court documents obtained by our correspondent revealed that the charges were filed on Thursday, March 28, 2024, before the Federal High Court of Nigeria, Abuja division.

The charges read, “That you, Binance Holdings Limited (“aka Binance”) Tigran Gambaryan, and Nadeem Anjarwalla (now at large), between January, 2023 and January, 2024 in Abuja within the jurisdiction of this Honourable Court carried on specialized business of other financial institution without valid licence and thereby committed an offence contrary to section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020 and punishable under section 57(5) of the same Act.

“Count two, that you, Binance Holdings Limited (“aka Binance”) Tigran Gambaryan, and Nadeem Anjarwalla (now at large), between January, 2022 and January, 2024 in Abuja within the jurisdiction of this Honourable Court engaged in business of other financial institution (other than insurance, stock broking and pension fund management) without valid licence and thereby committed an offence contrary to and punishable under section 58(5) of the Banks and Other Financial Institutions Act, 2020.

“Count three, that you, Binance Holdings Limited (“aka Binance”) between January, 2022 and January, 2024 in Abuja within the jurisdiction of this Honourable Court not being an authorized dealer in Nigeria’s Autonomous Foreign Exchange Market used your virtual asset services platform to unlawfully negotiate foreign exchange rates in Nigeria and you thereby committed an offence contrary to and punishable under section 29(1) (c) of the Foreign Exchange (Monitoring And Miscellaneous Provisions) Act.

“Count four, that you, Binance Holdings Limited (“aka Binance”) Tigran Gambaryan, and Nadeem Anjarwalla (now at large), and other persons at large between January, 2023 and January, 2024 in Abuja within the jurisdiction of this Honourable Court conspired amongst yourselves to conceal the origin of the proceeds of your unlawful activities and thereby committed an offence contrary to section 21 (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

“Count five, that you, Binance Holdings Limited (“aka Binance”) Tigran Gambaryan, and Nadeem Anjarwalla between January, 2023 and December, 2023 in Abuja within the jurisdiction of this Honourable Court concealed the origin of a cumulative sum of $35,400, 000 (Thirty Five Million, Four Hundred United States Dollars) generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity and you thereby committed an offence contrary to and punishable under section 18(3) of the Money Laundering (Prevention and prohibition) Act, 2022.”

The Federal Government, on Monday last week, contacted the INTERPOL and issued an arrest warrant for the apprehension of Anjarwalla, who escaped from lawful custody.

The PUNCH reported on March 26, 2024 that the accused used a Kenyan passport to escape, while his colleague was still in custody.

According to the report, Anjarwalla, escaped from Abuja through a Middle East airliner.

The office of the NSA had confirmed the escape of Anjarwalla in a statement issued in Abuja on March 26 by the Head of its Strategic Communication, Zakari Mijinyawa, who stated that preliminary investigation showed that the escapee fled Nigeria using a smuggled international passport.

Anjarwalla escaped from ‘a safe house’ where he and his colleague were detained guarded by heavily armed soldiers.

Financial Times had on February 28, 2024, reported that two executives of the company were arrested and detained after they flew into the country as a result of a ban on their website.

On March 12, 2024, the FT reported that the EFCC asked Binance to share data on its 100 top users in Nigeria as well as all transaction history for the past six months.

According to the report, the request is at the centre of negotiations between Binance and Nigeria.

The naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity.

According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market closing below the N1,300 ceiling marks the first instance since January 26 of this year.

The naira depreciated to as low as N1,615/$1 on March 13, 2024.

Since the introduction of a slew of forex policies by the central bank, the naira has gained over 21 per cent on the dollar since March.

Liquidity in the forex market has been attributed to an array of policies currently implemented by the CBN.

Key reforms include the unification of exchange rate windows, liberalisation of the FX market, clearance of FX backlog obligations for banks and airlines, implementation of a Price Verification System, imposition of limits on banks’ Net Open Position, removal of the daily cap of N2bn on remunerable Standing Deposit Facility, and overhaul of the Bureau De Change segment.

Forex turnover is a critical metric in the financial world as it represents the total value of all foreign exchange transactions completed within a specific timeframe, providing insights into the liquidity and vibrancy of the forex market.

High turnover rates indicate a highly active market with numerous participants engaging in buying and selling currencies, which can signal investor confidence and economic stability.

In the last two weeks, the Central Bank of Nigeria and other banking institutions improved dollar supply to the foreign exchange market by $2.5bn.

Similarly, forex transactions between willing sellers and buyers at the Nigerian Autonomous Foreign Exchange Market reduced by 106 per cent to $111.18m on Tuesday from $857m at the close of trading activity last week Thursday.

The summary of the FX trading revealed that the intraday high closed at N1,312 from 1392 per dollar on last Thursday. Also, the intraday low remained at N1,250 it traded last Thursday.

The foreign exchange resumed on Tuesday after the Easter holiday with the Naira appreciating at the parallel market to N1,220. Bureau De Change operators bought at N1,220 per dollar and sold either through cash or transfer to customers at N1,265/$ with a profit margin of N30.

This represents 1.99 per cent appreciation over N1,280 closed last week.

The Naira strengthened in both the official and parallel market segments following the Central Bank of Nigeria’s move to clear all verified FX backlogs (final tranche of $1.5bn).

The Naira which appreciated by 21.8 percent month-on-month in March 2024 is expected to maintain the trend in April, following the policy measures of the Central Bank.

Currency traders, who spoke to The PUNCH attributed the naira appreciation to waned demand for the greenback note and the decision of the apex bank to sell foreign exchange to operators.

A BDC operator at Wuse Zone 4, Ibrahim Yahu, stated, “The demand for dollars has really gone down and the naira is appreciating because of the new rate determined by the CBN for traders.

The CBN initially started selling to us at N1,251 but they gave another rate last week Thursday at N1,190 and that is the reason for new fresh drop of the dollar. The CBN selling directly to us has really helped trading activities.”

Another trader, Malam Yunusa, stated that the naira was poised to maintain its gain against the dollar adding that operators also want the naira to grow.

The President of the Association of Bureaux de Change Operators of Nigeria, Aminu Gwadabe, recently noted that apart from the tightening of monetary policy resulting in interest rate hikes, increased investment in government instruments, and the clearance of $7 billion forex backlog forward commitments, the reactivation of the BDCs has notably enhanced dollar liquidity in the retail segment of the forex market.

Analyst at Afrinvest also predicted that the naira would trade within similar band in the month of April as the CBN continues its activities to mop up liquidity and attract more capital.

The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery.

It was gathered on Tuesday that the $20bn worth refinery started pumping out diesel to the domestic market last Wednesday.

It sold a minimum of one million litres to each registered oil marketer that got the product from the plant since it commenced diesel sale.

Officials of the multi-billion dollar plant and oil dealers confirmed that the product was dispensed to marketers at between N1,225/litre and N1,300/litre depending on the volume of purchase.

This came as it was also gathered that the refinery would start releasing Premium Motor Spirit to the domestic market in May this year.

“They started pumping out diesel to marketers since last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me after making the purchase,” the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, told one of our correspondents.

He added, “So some of our marketers have started getting the product, but as an association we have not got the product yet, because we want to get the actual rate that it will be sold to us when we buy in bulk. However, they have started selling diesel because some of our marketers have started buying.

N1,225/litre

“They are selling at N1,225/litre and the minimum volume they are giving is one million litres per marketer. Also, they assured us that they will release more products, but for now this (diesel) is what they are starting with. So we are expecting them to release PMS anytime from now.”

Maigandi said the move by Dangote would definitely lead to a crash in diesel price, as the commodity rose to a high of about N1,700/litre recently.

“The price of diesel is going to fall because of the release of products from Dangote refinery. In fact, it is already coming down in Lagos,” Maigandi stated.

Another oil marketer, who is the Chief Executive, AF Ralph Oil and Gas Ventures, Dr Ralph Arokoyo, confirmed that the refinery had started the sale of diesel to dealers, adding that the plant started dispensing the product last Wednesday.

Asked if Dangote refinery had started supplying diesel to the market, Arokoyo replied, “Yes they have started. They started diesel sales last Wednesday and they have sold to many marketers including members of IPMAN and MEMAN (Major Energy Marketers Association of Nigeria), as well as other private registered independent dealers.”

Price drops

When also asked about the minimum volume being sold to dealers and at what rate, Arokoyo said, “One million litres is the minimum and the rate is okay considering what other major tank farms are selling, which is why people are trooping to the refinery now.

“The price ranges between N1,250/litre and N1,300/litre depending on the volume you are buying. This is good news for Nigerians because in the last few weeks the price of diesel hovered between N1,600 and N1,700/litre.

“But in many locations across the federation, the prices are beginning to drop due to the emergence of products from that refinery and as the products are being dispatched since last Wednesday. Now you can get AGO (diesel) in some stations at N1,400/litre.

“Some are even doing N1,350/litre now and I want to believe that in a couple of weeks to come, we should see more reduction in the price of the product as more products from the plant hit the market and spread very well across the country.”

On whether the company informed dealers when it would start releasing petrol into the market, Arokoyo replied in the affirmative.

“They (Dangote refinery) said it (petrol) will be available between now and May, which is next month. We are optimistic about this, because PMS is largely used by Nigerians,” the oil marketer stated.

A senior official at Dangote refinery confirmed the sale of diesel to marketers, as the source noted that Premium Motor Spirit, popularly called petrol, would soon be released to the market.

“The product (diesel) is everywhere and they (marketers) are accessing it with ease. The product has been on sale to marketers since last week and the transactions have been better.

“The price of the product in various locations of the country will come down, and it is already coming down in many parts of Lagos since we started releasing products to marketers,” the official, who spoke on condition of anonymity due to lack of authorisation to speak on the matter, stated.

The Dangote refinery has faced a series of hurdles as it strives to release refined products into the market after it was officially inaugurated by former President Muhammadu Buhari in May last year.

Recall that on February 8, 2024, The PUNCH reported that indications emerged that lingering regulatory approvals stalled Dangote Petrochemical Refinery’s plan to release aviation fuel (Jet A1) and diesel for sale in the Nigerian market in January.

The report had stated that weeks after the January 31 timeline set by the management of Africa’s largest refinery to begin sale of its petroleum product in the local market, the refinery was still battling to cross the hurdles of the several layers of regulatory approvals.

It stated that the development came after the refinery began the production of refined petroleum products at the expansive facility.

On January 12, 2024, Dangote refinery announced that it had commenced the production of Automotive Gas Oil, popularly called diesel, and aviation fuel or JetA1.

Aliko Dangote, in a statement issued by his firm at the time, thanked President Bola Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of the project.

Dangote also thanked the Nigerian National Petroleum Company Limited, Nigerian Upstream Petroleum Regulatory Commission, NMDPRA and Nigerians for their support and belief in the historic project, as he revealed that the facility would pump out diesel and aviation fuel in January, subject to regulatory approvals.

He said, “We thank President Bola Tinubu for his support and for making our dream come true. This production, as witnessed today, would not have been possible without his visionary leadership and prompt attention to details.

“His intervention at various stages cleared all impediments thereby accelerating the actualisation of the project. We also thank the NNPC, NUPRC and NMDPRA for their support. These organisations have been our dependable partners in this historic journey.

“We also thank Nigerians for their belief and support in this project. We have started the production of diesel and aviation fuel, and the products will be in the market within this month once we receive regulatory approvals.”

The refinery, Africa’s largest with a nameplate capacity of 650,000 barrels per day, was built on a peninsula on the outskirts of the commercial capital Lagos.

Nigeria has for years relied on expensive imports for nearly all the fuel it consumes but the $20bn refinery is set to turn it into a net exporter of fuel to other West African countries, in a huge potential shift of power and profit dynamics in the industry.

Dangote exports products

The commencement of diesel sale in Nigeria by the plant is not actually its first refined products sale, as The PUNCH reported in February that the refinery issued tenders to sell two fuel cargoes for export.

This was actually the first from the new refinery, as the report stated that this was confirmed by trading sources with knowledge of the matter who spoke to Reuters at the time.

Nigeria has for years relied on expensive imports for nearly all the fuel it consumes but the $20bn refinery is set to turn it into a net exporter of fuel to other West African countries, in a huge potential shift of power and profit dynamics in the industry

Reuters had stated in its report that Dangote declined its request for comment. The oil firm also remained mute to several enquiries by The PUNCH at the time.

The report stated that the first cargo was 65,000 metric tonnes of low-sulphur straight run fuel oil, which Dangote awarded to Trafigura, which was due to load at the end of February, three of the sources said, according to Reuters, as it added that Trafigura declined to comment at the time.

At least one refiner said they had been offered the cargo by Trafigura without elaborating further.

The second tender was for about 60,000 tonnes of naphtha, three other sources had stated. Two of them added that the tender closed on February 15. Loading details were not immediately available at the time.

Sources had also told Reuters that the refinery was preparing to deliver its first fuel cargoes to the domestic market within weeks.

The two fuels on offer were typical products of running light sweet crude through a crude distillation unit in a refinery without further upgrading capacity.

The refiner began buying crude in December last year and Nigerian National Petroleum Company Limited has been the main supplier.

Dangote has also purchased some US oil and reportedly received two million barrels of US WTI Midland in early March, according to LSEG and Kpler ship tracking.

Dangote sells diesel

Meanwhile, the National Vice Chairman of IPMAN, Hammed Fashola, also confirmed that Dangote refinery had commenced the sale of diesel to marketers.

However, Fashola said IPMAN had yet to start receiving diesel from the private oil refining company.

“Yes, it is correct (that Dangote has started selling diesel), but not yet to IPMAN. Some marketers are already getting allocation, we are still waiting for our own. We’ve put in our request, and I am very sure that at the appropriate time, they will call us,” Fashola stated.

On the current price of diesel, he said, “In filling stations now, diesel ranges from N1450, N1500 to N1600, depending on the location”.

Fashola noted that Dangote’s diesel would have a positive effect on the price of the product, saying “at least there would be a difference from the imported one”.

While saying there was no financial commitments made yet, he expressed confidence that the independent marketers would fuel from Dangote this month.

“No financial commitments made yet, but we’ve put in our papers to make known our intentions and our requests. When they issue allocation, then we can talk of financial commitments,” he stated.

Meanwhile, a diesel distributor in Ogbomoso, Oyo State, Kayode Lawal, said the pump price of diesel is now between N1420 and N1500 as of Tuesday.

Also, an attendant in Badagry Lagos State, Bose Opeyemi, told our correspondent that the product now sells at the rate of N1,395 in some parts of Badagry, Lagos State, while some sell at N1,450.

In Abeokuta, the Ogun State capital, Saheed Babalola, who is a quarry agent, also said he got a litre of AGO at the rate of N1,45O