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Nigeria’s financial sector experiences 30% growth

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Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has said that Nigeria’s financial sector grew by over 30 per cent in the first half of 2024.

Edun who was represented by the Managing Director of Ministry of Finance Incorporated, Dr Armstrong Takang, at the 17th Annual Banking and Finance Conference in Abuja on Tuesday, noted that the growth indicated a strong recovery from the contractions observed in 2021, further contributing to Nigeria’s economic stability.

“The financial sector continues to demonstrate resilience, rebounding strongly from the contractions observed in 2021. The sector has grown by over 30 per cent during the first half of this year, further bolstering our overall economic stability,” Edun stated.

He also emphasised the sector’s vital role in driving economic growth.

In his speech, Edun highlighted that the Nigerian economy had shown promising signs of progress despite challenges in some sectors.

He pointed out that Nigeria’s Gross Domestic Product had improved, with growth rising from 3 per cent in the first quarter to 3.2 per cent in the second quarter of 2024, with hopes of reaching a 3.7 per cent target by the end of the year.

“Our commitment to continue reforms aims to achieve a 3.7 per cent growth target by year-end,” he said.

The minister also acknowledged sector-specific developments, especially in oil and gas, which recorded 10 per cent growth during the second quarter of 2024.

“The oil and gas sector saw a notable increase of 10 per cent during the second quarter and a significant rebound from the contraction experienced in the same period last year,” he said.

 

 

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Experts raise alarm on Shawarma, Cancer, Kidney Disease

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Health professionals have warned that regular consumption of shawarma containing high amounts of salt, sugar, fat, seasoning and processed meat may contribute to hypertension, obesity, diabetes and kidney disease.

Excessive salt can raise blood pressure and put additional strain on the kidneys, while high-calorie sauces may contribute to weight gain.

Nutrition experts advised Nigerians to eat shawarma in moderation, use less mayonnaise and other sauces, choose lean grilled meat and add more vegetables. Consumers were also urged to check vendors’ cleanliness and avoid food prepared where ingredients are exposed to flies, dust or poor handling.

 

A recent report by experts also warned that frequent consumption of Shawarma may increase the risk of other food-borne infections and long-term health problems.

The report contains documented cases of people who suffered vomiting, diarrhoea, stomach pain and weakness after eating shawarma, with some requiring hospital treatment.

According to the report,  poor hygiene could allow bacteria and other contaminants into shawarma, causing illnesses including cholera, dysentery, typhoid and salmonellosis.

It also raised concerns about mayonnaise and creamy sauces kept without proper refrigeration and warned that poor storage could encourage bacterial growth and increase the risk of food poisoning.

A study cited in the report found bacterial contamination in ready-to-eat shawarma sold on the streets

Experts also raised concerns about processed meat such as sausage, noting that the International Agency for Research on Cancer classifies processed meat as carcinogenic to humans.

 

 

 

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Phone communication exposes married woman in the case of Abuja resident who died in a hotel

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The mystery surrounding the death of a man whose body was found by the roadside in Abuja has taken a new turn, with police tracing the case through his missing mobile phone to a married woman who allegedly spent time with him at a hotel.

The FCT Commissioner of Police, Mohammed Sanusi, disclosed this on Saturday in Abuja, saying investigators arrested Rukayat Muhammed after tracing the deceased’s final communications.

The man was found dead on August 26 along the Kubwa Expressway, near Katampe under the bridge, after his family had earlier reported him missing.

According to the police, the case initially raised suspicion of a possible “one chance” incident. Investigators, however, established that the dead man was the missing person after identifying his remains.

Sanusi said the deceased’s mobile phone was missing and had been switched off. Police investigators subsequently traced his last known communication, leading them to Rukayat, a resident of Garki Area 2.

Investigators reportedly discovered that Rukayat, who is married, was allegedly in a romantic relationship with the deceased. The police said she had saved his contact under the name “Safiyat.”

The CP said the pair had lodged at Good Samaritan Guest House on 2nd Avenue, Gwarinpa, where the man later died.

Sanusi said Rukayat allegedly discovered that the man was no longer breathing but failed to alert the police or hotel management. Instead, she allegedly took his phone and left the hotel.

The case took another turn when hotel management later discovered the man’s body inside the room after attempts to contact the occupants failed.

Rather than reporting the discovery, two hotel staff members, Ibrahim Omeiza and Kefat Bitrus, allegedly removed the body from the room and transported it to the Kubwa Expressway, where they dumped it under the Katampe bridge.

The police said the action was apparently intended to distance the hotel and its management from the death.

Sanusi said detectives were still working to establish exactly how the man died and determine the individual roles of those connected to the incident.

He warned that anyone found to have participated in the death, concealment or abandonment of the body would face prosecution.

The commissioner said the investigation remains ongoing.

 

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Enugu State govt suspends monarch for hosting Peter Obi

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The Enugu State Government has suspended His Royal Majesty, Igwe Eze William Ezugwu, the traditional ruler of Ibagwa Ogbozalla Opi Autonomous Community, in Nsukka Local Government Area of Enugu state.

The state government accused Igwe Ezugwu of violating provisions of the state’s Traditional Rulers Law.

In a letter of suspension dated September 24, the Enugu State Government cited his alleged failure to constitute his cabinet, failure to establish a Town Union governing body, and persistent conduct deemed inconsistent with the laws governing traditional rulers in the state.

The suspension comes barely three weeks after Igwe William Ezugwu received NDC presidential candidate Peter Obi at his palace in Opi, Nsukka LGA, where he reportedly blessed Obi’s presidential ambition.

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