Tuesday, February 6, 2024

Osimhen declared fit for AFCON semi-final

"Victor Osimhen has been declared fit and available for selection in the semi-final clash against South Africa on Wednesday. He has joined the team in Bouake and has trained with the squad today," a team spokesperson told AFP on Tuesday.


The Napoli striker's presence had initially appeared to be in doubt after he did not fly to Bouake from Abidjan on Monday with the rest of the squad due to abdominal discomfort.

The reigning African player of the year also missed training on Monday, having been substituted late in Nigeria's quarter-final win over Angola at the weekend.

Coach Jose Peseiro had been evasive as to Osimhen's chances of facing South Africa when asked at a press conference earlier on Tuesday.

"I cannot answer right now because it's a health problem. This afternoon I will know better if he can play or not," he said.

The 25-year-old has been outstanding for the Super Eagles at the tournament despite only scoring one goal, in their opening 1-1 draw with Equatorial Guinea.

AFP

Related story: Video - Nigeria vs Angola | AFCON 2023 HIGHLIGHTS

 

Video - Increased internet penetration in Nigeria linked to decline in poverty levels



The World Bank says increased internet coverage is helping in the fight against extreme poverty. It has invested over 700 million U.S. dollars across 11 digital development projects in the West African nation and other parts of the continent over the past six years.

CGTN

Ending Female Genital Mutilation in Nigeria

“In my clan, they do it in infancy; some others do it in adulthood. My mother was even cut off when she was about to get married. I was cut when I was just five years old, so I didn't know much about it" said now-26-year-old Miss Uzodimma Lucy Ogodo, the Executive Director of Tomorrow, is a Girl Initiative, a non-governmental organisation (NGO) in Abakaliki, Ebonyi State.


"I am a survivor of female genital mutilation (FGM). In my community, Abakaliki, FGM is a common practice. Young girls and women are brainwashed into accepting it as our culture. I first learned about it when I was in sixth grade. I asked my mother to explain what it was about. I asked whether I was cut since I can't remember how much it hurt, the implications to my health, the psychological effect of knowing that an essential part of me was brutally chopped off, and the other harmful effects," Uzodinma explained.

"Upon further inquiry, my mom said that I was cut out of ignorance; on their own part, she and my father realised it was wrong to have cut me," Uzodinmma continued, her expression betraying her self-assured manner. As a result, my other siblings were not cut, “no girl or woman deserves to be cut; it simply destroys our spirit."

"My NGO, Tomorrow is Girl Initiative, was founded in a bid to advocate for an end to FGM practice, and it was in my quest for deeper understanding that I became emotionally invested in the cause. Growing up, I was deeply troubled by the fact that no woman deserves to be cut, knowing the dangers involved," she explained.

Every year, millions of girls and women around the world are at risk of undergoing FGM, with Nigeria contributing to 15% of the total population, globally. Female genital mutilation (FGM) is a harmful practice that specifically alters or damages the female genital organs for nonmedical reasons. Although the practices that uphold female genital mutilation (FGM) differ from one culture to another, the operation is typically performed between the ages of infancy and adulthood, and it is well-documented that it has health, social, economic, emotional, and sexual complications.

From what I observed, the system-transformative strategy that called for our collaboration with boys men, and women, traditional rulers and priests, was quite effective. Therefore, I propose that we employ that strategy more frequently. 

In a similar tone, 51-year-old Mrs. Josephine Ezaka, from Amudo, in the Ezza South local government area of Ebonyi State, said she knew about FGM as a child. “It was my grandmother who took me to where I was cut. It was very painful. After the cutting, they use hot water to wash the cut part. As you can imagine, it's very painful. I was like six years old then. I didn't know the implications of the FGM.”.

“Since I got married, I realised that I don't have the urge for sex, as other women used to tell me how sweet it is. My husband has even complained to some people." Josephine Said.

Through joint support from UNICEF, UNFPA, and the government, FGM is no longer practiced in Amudo. Josephine acknowledged the significant role played by UNICEF and UNFPA interventions, coupled with high enlightenment facilitated by the involvement of the church and traditional rulers.

Expressing her commitment, Josephine affirmed, "I did not subject any of my children to FGM. We are actively combating the practice, actively seeking those rumored to use Vaseline powder for cutting. The proven dangers of FGM emphasize the urgency of preventing daughters from undergoing it, as evidenced by numerous cases of women dying during childbirth due to FGM."

“There's a popular story of a woman, though late, who had no opening but a little opening for her to urinate just because of a dangerous vaginal cut in the name of FGM. She died without having a child." Josephine said it sadly.

By Ijeoma Onuoha-Ogwe, UNICEF

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Nigeria's latest devaluation may be 'turning point' in currency reform drive

Nigeria's second currency devaluation in less than a year and new forex rules suggest the central bank is gearing up to let the naira float freely, but a huge backlog of orders for dollars and low liquidity may stall reform momentum, investors and analysts said.

Foreign investors in particular will need more convincing that Africa's biggest economy is finally ditching the controls that have for long distorted its currency market, making the country of 200 million people less attractive to foreign capital.

The official naira exchange rate last week plunged to as low as 1,531 per dollar from 900, well below black market levels, after the market regulator changed its closing rate calculation methodology, in a de facto devaluation. The official rate had been drifting towards parallel market levels as forex shortages funnelled demand to unofficial sources.

Also last week, the Central Bank of Nigeria (CBN) announced limits on how much banks can hold in foreign currencies and eased rules on international money transfer operators, allowing them to quote the naira at prevailing market rates.

"You could call this a turning point," said Kyle Chapman, FX markets analyst at London-based Ballinger & Co.
"Now that there is no longer a more favourable (exchange) rate, the lack of incentives to take part in the official markets may turn into a tipping point that sees a true free float emerge if the central bank does not intervene," Chapman added.

Nigeria is struggling with a record amount of government debt, high unemployment and power shortages that have contributed to years of anaemic economic growth. Oil output is shrinking, and rampant insecurity means swathes of the countryside are outside government control.

In his first days in office last year, President Bola Tinubu scrapped a costly fuel subsidy and lifted some forex controls.

But the reform drive appeared to lose steam as the naira continued to weaken without central bank intervention.

Andrew Matheny, senior economist with Goldman Sachs, said the latest devaluation made the naira look "cheap."

"This makes foreign portfolio inflows potentially appear attractive, however only in the circumstance that other aspects of monetary policy come together," said Matheny.

These include ending financing the budget deficit through central bank overdrafts, which increases the money supply and helped propel inflation to 28.92% in December, the highest level in nearly three decades.


FOREX BACKLOG

Years of forex controls have created pent-up demand for dollars while the country struggles to raise its production of oil, its single largest export earner.

Foreign currency shortages have created a large backlog of unpaid dollar transactions, which the CBN last year put at nearly $7 billion.

On Monday, CBN governor Yemi Cardoso told broadcaster Arise TV that $2.2 billion remained outstanding and that $2.4 billion would not be honoured after an audit found irregularities.

Goldman put the backlog at $12 billion, which has kept foreign investors away due to worries they will not be able to take their money out.

"The economy is severely starved of dollars. The (forex)injections so far appear to have not made a dent," said David Omojomolo, Africa economic at Capital Economics.

"The FX backlog to my knowledge is still large, and the pronouncements that it will be cleared 'soon' made for months now appear to encourage speculation rather than stabilisation."

The CBN will later this month hold its first monetary policy meeting since last July and it is under pressure to deliver a big hike in its benchmark interest rate from the current 18.75%.

"For us to take a more active position in the local currency market we would still need greater clarity on the direction... and exactly how they're going to support the operations on the forex side with ... the monetary policy side," said Yvette Babb, a hard and local currency debt portfolio manager at William Blair.

The central bank's one-year treasury bill, for example, was selling at 17% while the government's bill sold at 11% as the government seeks to keep its borrowing costs low.

As long as big downside risks to local bond prices remain due to the unanchored nature of short-term yields with regard to the policy rate - reflected in the significant gap between the two - foreign investors will avoid local debt, said Gergely Urmossy, emerging markets strategist at Societe Generale.

"To restore the anchoring role of the policy rate, the CBN will have to deliver money market reforms," Urmossy said.

By Macdonald Dzirutwe, Reuters

Related story: Video - Nigeria caps foreign exchange position for banks

Pastor in Nigeria arrested over allegedly swindling followers of $1m

A Nigerian pastor has been arrested over allegations he fraudulently got people to part with their money.


Theo O Ebonyi, well-known in Benue state, is accused of swindling his followers and others out of more than 1.3bn naira ($930,000; £740,000).

He was detained and freed on bail last year, but this has only just been made public, the anti-corruption authority spokesperson is quoted as saying.

Mr Ebonyi said the news was "fake" information spread by bloggers.

He did not comment on the allegations against him.

Nigeria's Economic and Financial Crimes Commission (EFCC) allege Mr Ebonyi asked his victims to pay a $1,300 fee each to access a $20bn grant from the US-based Ford Foundation.

It, however, says that the foundation did not offer such a grant.

"Investigations by the EFCC showed that the Ford Foundation had no arrangement, grant, relationship or business with Ebonyi," the agency said in a statement.

"The foundation pointedly disclaimed him and his NGO stressing that it had no link whatsoever with them."

The EFCC also alleges that Mr Ebonyi, who runs Faith on the Rock Ministry International church, used the fraudulently acquired funds to buy five properties.

He is set to be charged in court after the investigations are finalised, the EFCC says. It is still unclear exactly what charges he will face.

In a video statement Me Ebonyi posted on Facebook around the same time as the EFCC announced his arrest on X, he said the news of his detention had been made up by "bloggers... trying to use my body to make money... that is a very big fake news... it's not true".

But EFCC spokesperson Dele Oyewale told Punch newspaper that Mr Ebonyi was on bail having been arrested and then released last year.

"He had been arrested over a long period of time, but because of the investigation that we were doing, we did not issue any statements," the spokesperson is quoted as saying.

By Gloria Aradi, BBC

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