BREAKING: CBN introduces New FX Rates

The Central Bank of Nigeria on Monday introduced new Forex rates and would no longer trade the naira at N375 per dollar for invisibles, such as school fees, medical bills and travel allowances.

The regulator said Nigerians can now get the dollar at N360 across all commercial banks within the country.

Zuma Recalls Minister from trip Abroad for not taking Permission

President Jacob Zuma of South Adrica on Monday ordered that Finance Minister Pravin Gordhan return from an investor roadshow to Britain and the U.S. because he “did not give permission for the trip”.

Appointed in 2015 after a predecessor’s sudden sacking, Gordhan was in London for the first leg of a week-long non-deal investor roadshow in Britain and the U.S.

Weak economic growth and tensions within the ruling party African National Congress (ANC) have put South Africa’s investment grade credit rating at risk. The rand fell as much as 1.7 per cent following the report, while bonds weakened sharply. Banking shares on the Johannesburg bourse fell more than 2 per cent.

Nairobi Club Owner Sentenced to five years in jail for killing his Customer.

A Nairobi club owner who killed one of his customers in 2012 following a disagreement has been sentenced to five years in jail. 

Justice Stella Mutuku ruled that Jackson Maina Wangui, the owner of "Click Club", caused the death of Kelvin Onyango by shooting him on the roof top of his club along Baricho Road on the night of May 7, 2012.

"I have considered the evidence and mitigation tendered by the accused and come to the conclusion that he must pay for his acts. I therefore sentence him to five years' imprisonment," ruled Ms Mutuku. Mr Maina escaped the death sentence by a whisker after the judge found him guilty of manslaughter instead of the more serious offence of murder.

Apple’s New Red iPhone 7 is incredibly Sexy

Apple has been a little stagnant in their innovations department of late, and nothing screams that more with the refined (but in no way exciting) iPhone 7.

The handset is only a slightly improved 6S, releasing with a Jet Black colour scheme that scratched so fast you probably weren’t able to get a cover on it first. In a new wave of announcements yesterday, Apple revealed a brand new coating that might make me jump from Space Grey for the first time.

5 Months After Wedding Kenyan Athlete Mercy Cherono Claims Marriage is on The Rocks.

About 5 months ago Kenya's athlete Mercy Cherono got married to the man of her dreams in a colorful traditional wedding ceremony. Cherono the reigning 5000 M commonwealth champion tied the know to husband Edmond Ngetich who had just a 10 Million sport betting jackpot.

There seems to be trouble in paradise after Mercy revealed of her husbands infidelity claiming that he even had a baby with another woman. The Kenyan athlete even flew all the way to Nigeria to seek spiritual help from Prophet Joshua of the famous TB  Joshua Ministries. Mercy claimed that her husband advised her to seek help from the prophet for deliverance in her marriage and career which hadn’t been doing so well. He accompanied her to the church where prophet Joshua prayed for her.

See video after the cut showing Mercy at prophet Joshua’s sanctuary being prayed for....

Passenger’s Headphones Explode Mid-flight from Beijing to Melbourne

An Australian woman had her hair scorched and face blackened after battery-powered headphones she had in her ears exploded mid-flight from Beijing to Melbourne, transport authorities said on Wednesday.

The Australian Transport Safety Bureau (ATSB) said in a statement that about two hours into the flight, the passenger, who was listening to music while sleeping, heard a loud explosion and felt her face burning.

Social Media Linked to Feelings of Isolation in Real Life - Study

Young adults who spend more time on social media may end up feeling more isolated in their daily lives, a recent study suggests.

Researchers focused on how often users of services like Facebook, YouTube, Twitter, Instagram, Reddit, Vine and LinkedIn experienced what’s known as social isolation - when a person lacks a sense of belonging, connections with others and fulfilling personal relationships.

Compared with people who spend no more than a half hour on social media each day, people who devoted at least two hours daily to these platforms were roughly twice as likely to report feelings of social isolation, the study found.

Miley Cyrus isn't Married Yet, says Sister

Noah Cyrus has confirmed her sister Miley Cyrus hasn't tied the knot with her fiancé Liam Hemsworth after their father Billy Ray Cyrus posted a cryptic message on Instagram.

The 17-year-old actress and singer has ended rumours the We Can't Stop hitmaker had wed the Hunger Games star after Miley Cyrus's dad Billy Ray Cyrus posted a photograph of the singer in a white dress.

Noah Cyrus said: "She's not married. [She was] probably just having fun or something."

Leicester Stuns Sevilla 2 - 0 to Reach Champions League Quarters

Kasper Schmeichel pulled off a dramatic late penalty save as Leicester City sank Sevilla 2-0 on Tuesday to reach the Champions League quarter-finals for the first time.

Trailing 2-1 from the first leg, after which Claudio Ranieri was sacked as manager, Leicester scored through Wes Morgan and Marc Albrighton before Schmeichel repelled Steven N’Zonzi’s spot-kick.

Inflation Rate Records First drop in 15 months

The National Bureau of Statistics early this week released the Consumer Price Index, which measures inflation rate, with the index dropping year-on-year from 18.72 per cent in January to 17.78 per cent in February.

Apart from the inflation report, the NBS also released four others. They are the cooking gas price watch, Premium Motor Spirit (petrol) price watch, kerosene price watch and the diesel price watch. The drop by 0.94 percentage points in inflation is a relief to consumers as this is the first time in 15 months that the country will witness a reduction in the price index.

EFCC Intercepts N49m at Kaduna airport

The Economic and Financial Crimes Commission on Tuesday impounded N49m abandoned in five sacks at the Kaduna International Airport.

The owner of the money is suspected to have attempted to smuggle it out of the country.The EFCC said in a statement by its spokesman, Mr. Wilson Uwujaren, that the bags were left unattended to and without tags.

According to the commission, upon examination, the bags were found to contain crispy naira notes with seals purportedly emanating from the Nigerian Security Printing and Minting Plc seen on the packs.

AIB Blames Pilots’ Error for 2012 Dana Crash

The Accident Investigation Bureau on Monday blamed the crash of a Dana Airlines aircraft, which occurred in the Iju-Ishaga area of Lagos on June 3, 2012 and claimed about 159 lives, on double engine failure as well as failure of the pilot to take the appropriate decision to land on the nearest air field.

The Boeing MD-83 aircraft, with registration 5N-RAM, which was coming from Abuja, had crashed into some houses in the area, killing all 153 people on board and six others on the ground. The Commissioner, AIB, Mr. Akin Olateru, said investigations found that the aircraft’s engine number one lost power 17 minutes into the flight from Abuja, and thereafter on final approach, the second engine also lost power, which made it to crash into the densely populated Lagos suburb.

Etisalat May Leave Nigeria over $1.2bn Loan Default

Abu Dhabi telecoms group, Etisalat, may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2bn loan, but wants the company’s debt restructured before it does so, Reuters quoted two sources as informing it on Monday.

According to PUNCH The Central Bank of Nigeria and the Nigerian Communications Commission on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.Etisalat is due to meet with creditors on Tuesday (today) or Wednesday to discuss the default, the sources said.

It was not clear whether Etisalat, which has a 45 per cent holding in the Nigerian unit after converting a loan to equity in February, would divest completely.

UEFA Could Sideline Referee Aytekin for Poor Officiating of Baca vs PSG Match

Deniz Aytekin, the referee in charge of Barcelona's 6-1 win over Paris Saint-Germain, could be facing a spell on the sidelines as a result of his performance. Pierluigi Collina is UEFA's head of refereeing and is responsible for assigning officials to the various fixtures in the Champions League and Europa League alongside his team of collaborators.

At Just 19, Kylie Jenner Buys Third Home

Most 19-year-olds are either living in less-than-glamorous college dorms or still stuck in their parents’ houses until they can afford to move out.

But Kylie Jenner isn’t most teenagers. The “Keeping Up With The Kardashians” star, who also has an eponymous makeup line, has bought her third home and the second one in Los Angeles’ exclusive Hidden Hills neighborhood, her broker Tomer Fridman of Sotheby’s International Realty confirmed.