News
The Federal Govt has Announced a Nine-month Grace Period for Citizens to Deposit Dollars Without Facing Any Penalties.

In a significant development for Nigeria’s financial landscape, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced a new policy aimed at facilitating the repatriation of foreign currency held outside the banking system. During a press briefing following the National Economic Council meeting, Edun revealed that Nigerians possessing dollars outside of formal financial institutions will have a nine-month grace period to bring these funds back into the banking system. Notably, individuals complying with this directive will not face legal liabilities or financial penalties during this timeframe.
This policy comes at a crucial time when the National Economic Council is addressing various economic challenges facing the nation. In his address, Edun provided updates on key financial accounts, noting that the Excess Crude Account currently stands at $473,754.57, while the Natural Resources Fund is recorded at ₦26,105,837,627.67, and the Stabilization Account holds ₦36,299,452,763.62.
Furthermore, the Minister highlighted the government’s ongoing economic relief measures, which have reportedly benefited 25 million Nigerians through various federal social protection initiatives. These initiatives encompass digital outreach, microenterprise loans, and targeted support across sectors such as power, agriculture, manufacturing, health, and compressed natural gas (CNG).
Edun also acknowledged that fluctuations in the foreign exchange market are contributing to rising costs, driven by demand and supply dynamics. He assured that details of the new program will be released imminently, a collaboration between the federal government and the Central Bank, which is set to commence on October 31 and run for the stipulated grace period.
This initiative reflects the government’s commitment to stabilizing the economy and enhancing the financial inclusion of Nigerians by integrating previously unbanked foreign currency into the formal financial system. As the implementation of this policy unfolds, stakeholders will be keenly observing its impact on Nigeria’s economic recovery efforts.
News
Pasuma’s Convoy Attacked in Osun State.

Tension permeated Ikire, Osun State, on Sunday following a reported attack on the convoy of Fuji musician, Alhaji Wasiu Alabi Pasuma. The incident, occurring in the afternoon, allegedly involved suspected hoodlums who targeted vehicles with stones and gunfire.
Reports indicate significant damage to vehicles within the convoy, including a Hummer Jeep and Hilux truck. The status of potential injuries amongst Pasuma’s entourage remains unconfirmed.
A viral video depicting a chaotic aftermath supports eyewitness accounts of the attack. Despite attempts, neither Pasuma nor his management have released a statement.
Local residents have expressed shock and concern. As of this report, the Osun State Police Command has yet to issue an official statement regarding the incident or potential arrests. Further updates will be provided as they become available.
News
Alhaji Yakasai Predicts Strong Re-election Prospects for President Tinubu in 2027.

Elder statesman Alhaji Tanko Yakasai has voiced strong confidence in President Bola Ahmed Tinubu’s re-election prospects in the 2027 presidential election. In a recent interview with the News Agency of Nigeria (NAN), Yakasai cited the President’s established political structure, extensive network, and the fragmented state of the opposition as key factors contributing to his projected dominance.
Yakasai emphasized Tinubu’s incumbency advantage, loyalty from key figures, and the absence of a cohesive opposition challenge as significant strengths. He also dismissed reports of any unified northern endorsement of an opposition candidate, asserting that claims of regional consensus lack institutional backing.
While refraining from a specific assessment of the current administration’s performance, Yakasai urged Nigerian political leaders to prioritize national development over personal ambitions, advocating for unity and a focus on progressive initiatives.
Foreign
Romania Elects Nicușor Dan Amidst Political Turmoil.

Romania’s recent presidential election culminated in a narrow victory for Nicușor Dan, the pro-European mayor of Bucharest. Securing 53.6% of the vote, Dan defeated far-right nationalist George Simion in a runoff election marked by significant political upheaval and deep divisions.
The electoral process was fraught with challenges, including a previously annulled election citing allegations of foreign interference and subsequent disqualification of a leading candidate. These events fueled discontent among certain segments of the electorate, contributing to Simion’s strong showing.
Despite early exit polls, Simion initially refused to concede, highlighting the intensity of the political climate. Ultimately, he acknowledged defeat, but his significant support underscores the continued resonance of nationalist sentiment within Romania.
Dan’s victory has been met with international approval, particularly from neighboring Moldova and Ukraine, as well as from the European Commission. He now faces the formidable task of unifying a polarized nation and navigating a complex political landscape following the collapse of the coalition government. His commitment to a pro-European trajectory signals a reaffirmation of Romania’s alignment with Western values amidst regional instability.
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