Nigeria Roundup: Harassment of Nigerians in Libya, Bobrisky leaves Nigeria, swearing-in of ministers
Harassment of Nigerians in Libya
The Nigerian Ministry of Foreign Affairs has assured citizens in Libya of their safety following a CAF ruling against the Libyan Football Association for mistreating the Nigerian team. Reports of harassment against Nigerians were addressed, with the Ministry affirming that they are conducting their daily activities without interference. The Ministry reiterated its commitment to protecting the well-being of Nigerian citizens abroad, emphasizing that their safety remains a top priority.
Swearing-in of ministers
President Bola Tinubu has sworn in seven new ministers in a cabinet reshuffle aimed at addressing Nigeria’s economic challenges. The ceremony on November 4 included the appointments of Nentawe Yilwatda as Minister of Humanitarian Affairs and Poverty Reduction, Muhammadu Maigari Dingyadi as Minister of Labour and Employment, and Bianca Odinaka Odumegwu-Ojukwu as Minister of State for Foreign Affairs, among others. This follows the dismissal of five ministers in response to public calls for a restructured cabinet to tackle rising inflation and unemployment, Pulse Nigeria reports.
Increased cost of goods
Cargo clearance at Nigeria's Apapa and Tin-Can Ports is facing significant delays due to ongoing disruptions in the electronic banking systems of various commercial banks, which are migrating to upgraded networks. Many cargoes remain trapped as agents cannot transfer clearance jobs between banks. This situation leads to increased storage and demurrage charges, ultimately driving up the cost of goods in the market.
MTN Nigeria to support working capital
MTN Nigeria Communications PLC plans to raise N50 billion through a new issuance of commercial paper (CP) under its N250 billion Commercial Paper Issuance Programme. According to Naira metrics, this initiative aims to enhance short-term working capital and diversify financing sources, supporting the company’s operational and growth needs as it expands infrastructure and services. With significant external loans totalling approximately N1 trillion, including N522.3 billion in short-term debt, MTN Nigeria is leveraging CP issuances to manage cash flow and address immediate financial obligations.
Bobrisky leaves Nigeria
Nigerian social media personality Bobrisky has announced that he has finally left Nigeria after two previous attempts thwarted by law enforcement. Following a publicized incident on November 1, 2024, where he was dragged off a plane, he shared a photo on Instagram from a flight, captioning it, "See you soon, Nigeria," which drew criticism from followers for his lack of discretion, Pulse Nigeria reported. Bobrisky had previously been arrested by the Economic and Financial Crimes Commission (EFCC) at the Seme border while attempting to leave for the Benin Republic.
