The Nigeria Premier Football League (NPFL) managers association is excited about Finidi George‘s  appointment as the Super Eagles manager.

NPFL Managers Extend Congratulations to the New Super Eagles Coach, Finidi George

Finidi George is an active member of the association due to his role as the technical adviser of Enyimba of Aba.
He previously led Enyimba to win the 2022-2023 NPFL title.

Despite serving as the assistant coach of the Super Eagles under coach Jose Peseiro, Finidi George continued his job at Enyimba.

He also maintained his position at Enyimba when he was the interim manager of the national team in March.
The NPFL managers association advocated for a local coach, and the Nigeria Football Federation (NFF) appointed Finidi following these calls.

Daniel Ogunmodede, the association’s secretary general and Remo Stars head coach, welcomed Finidi George’s appointment as the Super Eagles coach.

On behalf of the league club managers, we wish you the very best coach, NEW SUPER EAGLES COACH.”

The National Assembly is proposing changes to the Central Bank of Nigeria  (CBN) Act 2007 to prevent senior officials of the apex bank from getting involved in political activities.

National Assembly’s Measures to Prevent Central Bank of Nigeria Officials from Engaging in Political Activities

The amendment aims to restrict the CBN chairman, governor, and deputy governors from participating in politics or joining any political party for three years after their tenure.

This move comes after the former CBN governor, Godwin Emefiele, entered the political scene during the lead-up to the 2023 presidential election. This caused tension in the country, especially with the controversial naira redesign introduced towards the end of President Muhammadu Buhari’s term.

To prevent similar incidents in the future, the Senate is pushing for a prohibition on CBN officials from entering the political sphere. One of the amended sections, Section 8, in the Central Bank of Nigeria Act 2007 (Amendment) Bill 2023 states: [the specific text of the amended section 8 would be inserted here].

“The Governor and Deputy-Governors shall be persons of recognised financial experience and shall be appointed by the President, subject to confirmation by the Senate on such terms and conditions as may be set out in their respective letters of appointment.

“The Chairman shall also be appointed by the President. The Chairman, Governor and Deputy Governors shall not engage in or be a member of any political party until three (3) years after disengaging from office.”

• The bill suggests that the top executives of the CBN, including the chairman, governor, and deputy governors, will be appointed for an initial five-year term.

• They can be reappointed for one more term, up to five years.

• A transitional clause specifies different terms for the initial deputy governors to enable a phased leadership transition, with two serving for three years and two for four years.

Dollar to Naira Exchange Rate at Black Market (Aboki fx):

Buying Rate: N1480
Selling Rate: N1500

Central Bank of Nigeria (CBN) Rate Today:

Buying Rate: N1473
Selling Rate: N1474

Exchange Rate of Black Market Dollar (USD) to Naira (NGN) on June 5, 2024

Note: Rates may vary when buying or selling forex. The CBN does not recognize the black market for forex transactions.

Heritage Bank Customers’ Funds:

Customers are concerned due to the revocation of Heritage Bank’s operational license by the CBN.
BCAN President, Dr. Uju Ogunbunka, expressed worry about the impact on customers’ financial stability.

Ali said “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.”

Ogunbunka clarified that customers impacted by the Heritage Bank revocation may not receive the full amount of their deposit in response to the revocation.

The rise in egg prices does not match the rate of increase in feed material costs.

Poultry Farmers Concerned Over Rising Egg Prices Due to Shortages and Costly Feed

The Poultry Association of Nigeria (PAN) attributes the continuous increase in egg prices to low production and high feed costs.

The Chairman of PAN Lagos state, Mojeed Iyiola, along with other industry stakeholders, revealed in separate interviews with the News Agency of Nigeria (NAN) in Lagos that the price of eggs has significantly increased.

A crate of eggs now sells for between ₦3,800 and ₦4,000 at the farm gate and over ₦4,500 in retail outlets, compared to the range of ₦3,200 to ₦3,500 in May.

Additionally, the price of a tonne of maize has surged to ₦800,000 from ₦400,000 in January, which Iyiola attributes to scarcity causing the continuous price hike in eggs.

“The reason for the current hike in the price of eggs is that eggs are very scarce now.

“Most farmers have sold off their old layers, and to get new stock is very expensive as the price of a day-old chick is becoming unbearable.

“Farmers able to buy day-old chicks are considered to be well-to-do. Also, a majority of our local farmers have shut down their farms due to the high cost of feed.

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“Presently, a kilogramme of maize costs as high as ₦850 as against ₦400 to ₦500 that was being sold for at the beginning of the year.

“The same thing applies to soya and the groundnut cake, the prices have increased astronomically,” the PAN chairman said.

He mentioned that the rise in egg prices does not align proportionally with the increase in the cost of feed materials.

“In fact most farmers are running at a loss. That is why the only existing farmers are trying to keep the sector running.

“Even if a crate of egg sells at ₦5,000, the farmers will only be managing to get by.

“We want to liaise with the food hub at Idi-oro, our farmers are complaining that they can no longer afford to sell at a loss.

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“We supply eggs at the farm gate at ₦3,800 per crate and with the same logistics, we still sell at ₦3,800 at the hub. This means we are running at a loss.

“With all these incurred logistics expenses a crate of eggs should be sold for ₦4,500 at the food hub,” he stated.

According to him, the way things are going if things are not controlled, the sector may collapse entirely.

“It seems consuming eggs have become luxury in our diets.

“We have scheduled a meeting with the government to tackle the situation because there is nothing an individual can do on this issue. We need government intervention,” Iyiola added.

According to him, if things are not controlled, the sector may collapse completely based on the current trajectory.

“It seems consuming eggs have become luxury in our diets.

“We have scheduled a meeting with the government to tackle the situation because there is nothing an individual can do on this issue. We need government intervention,” Iyiola added.

Godwin Egbebe, the National Publicity Secretary of PAN, stated that the increase in egg prices was due to the rise in the cost of raw materials.

“Early this month, a tonne of maize sold for ₦720,000 but as of today 12 June 2024, it sells at ₦800,000. During the former President Buhari’s administration a tonne of maize was sold at ₦80,000.

“The increment is over 1,000 per cent, so you can see the reasons for the hike in poultry producers.

“The way forward is that government as a matter of urgency should bring in grains in the short term.

“And in the long term, they should ensure that farmers go back to their farms secured.

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“Farmers are not producing enough grains because of insecurity. Palliatives cannot solve the problem, it is like a drop in an ocean. It makes little or no impact,” Egbebe said.

He said that in some supermarkets, eggs are being sold for ₦5,000 and above.

“Everyday we go to buy feeds, the price changes. As we speak, farmers are actually selling at a loss.

“Most farmers are not breaking even, so they are folding up, it is not funny anymore,” he stated.

Theresa Muyi, a poultry farmer in Alimosho, expressed her dismay at the situation and the inability of local farmers to address the continuous increase in feed prices.

“Poultry feed has gone up and we now sell a crate of egg from the farm gate between ₦3,800 and ₦4,000. The retailers sell from ₦4,500 and above.

“The price is still unstable because almost every week there is an increase in feed prices.

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“Eggs seem to have become luxury to the common man as a piece of egg now sells at ₦200 and above,” Muyi noted.

NEWS AGENCY OF NIGERIA (PAN)

Patoranking, the renowned Nigerian dancehall artist, has constructed a small football stadium in Lagos.

Patoranking Builds Mini Stadium in Lagos Neighborhood [VIDEO]

Patoranking expressed his love for the community by deciding to give back to the place that influenced his formative years.

“God blessed me and I blessed my people, I built this from a place of love to unite my community Ebute Metta. First of Many. World Best.”

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