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News_Naija

Enugu Airport Concession 70% Completed Govt

The Enugu State Government has announced that the concession process for the Akanu Ibiam International Airport is over 70 per cent completed and should be concluded by the second quarter of 2025. This was revealed by the State Commissioner for Transportation, Dr Obi Ozor, during a television interview on Enugu Kwenu, a programme aired on Afia TV. The commissioner stated that the process is being led by the Federal Government through the Federal Ministry of Aviation in collaboration with private investors. The Minister for Aviation and Aerospace Development, Festus Keyamo, had recently countered allegations that the concession process had been concluded, adding that the ongoing process would be made transparent, devoid of any questionable actions or characters. Both the minister and the commissioner held that once finalised, concessionaires will commence critical upgrades on the airport. Ozor added that the upgrades would include the completion of the international terminal, cargo terminal, maintenance, repair, and overhaul facilities, aircraft hangars, and runway extension. He also said the Enugu State Government is finalising preparations for the launch of Enugu Air, a state-backed airline scheduled to begin operations in May 2025. “The Federal Government has been supportive of the state. Some private investors are working tirelessly with the Federal Ministry of Aviation to conclude the concession of the Akanu Ibiam International Airport, and of course, the immediate rehabilitation and operationalization of that airport. “And we know that they have gone more than 70 per cent of the way in terms of the process, and we are hoping that the remaining 30 per cent should hopefully be completed in the second quarter of 2025. “And that should allow them to be able to move in and get that international wing of the airport completed, including the cargo terminal, the maintenance, repair, overhaul, and other ancillary works that need to be done at the airport, such as extension of the runway and hangar,” he stated.

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News_Naija

Currency In Circulation Drops To N5tn Report

The total amount of naira in circulation decreased to N5tn as of March 2025, marking a decline from N5.04tn recorded in February 2025. This represents a further reduction from N5.24tn in January 2025, according to the latest money and credit statistics on the website of the Central Bank of Nigeria. Naira in circulation is the total amount of physical currency circulating in the economy, representing money that is available for daily transactions, investments, and savings. A decrease in currency in circulation can be part of efforts to reduce inflationary pressures and manage economic stability. In addition to the naira in circulation, the CBN’s bank reserves have increased to N28.52bn in March 2025, up from N27.57bn in February 2025. In January 2025, the reserves stood at N27.43bn. Meanwhile, the special intervention reserves remained unchanged at N284.36m during the three-month period. Bank reserves refer to the funds held by the Central Bank and commercial banks to ensure liquidity and financial stability within the banking sector. The steady rise in bank reserves is an indication of the CBN’s efforts to maintain financial security and stability in the economy. As of the same period last year, The PUNCH reported that the value of Nigeria’s currency in circulation had risen to N3.87tn by the end of March 2024. This marked an increase from N3.69tn in February and N3.65tn in January. In addition, the currency outside of banks also saw a steady rise throughout the first quarter, growing from N3.28tn in January to N3.41tn in February, and reaching N3.63tn in March. Also, Nigeria’s money supply recorded its first decline in 2025, falling to N110.32tn in February from N110.94tn in January, data from the Central Bank of Nigeria showed. The 0.56 per cent month-on-month drop comes amid continued efforts by the apex bank to manage liquidity in the system, following earlier signals of monetary tightening and foreign exchange adjustments.

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News_Naija

Court Jails 43-year-old For Illegal Cannabis Possession

A 43-year-old man, Oluwole Johnson, was on Tuesday sentenced to two years imprisonment by a Federal High Court in Lagos for illegal possession of two kilograms of a special strain of cannabis known as “Loud.” Justice Akintayo Aluko handed down the sentence after Johnson pleaded guilty to a one-count charge brought against him by the National Drug Law Enforcement Agency. The NDLEA prosecutor, J.E. Negedu, told the court that Johnson was arrested on February 8, 2025, at Lake View Estate, Phase 1, Ago Palace Way, Lagos, while trading in the banned substance. Negedu told the court that the offence committed by Johnson contravened Section 11(c) of the NDLEA Act, Cap N30, Laws of the Federation of Nigeria, 2004, which prohibits unlawful dealing in narcotic drugs. Upon his arraignment, on charge NO: FHC/L/314c/2025, Johnson admitted to committing the offence and pleaded guilty. The prosecutor, through one of the agency’s operatives, presented the facts of the case and tendered evidence, including the seized drugs, which the court accepted. Following the review of the case, the prosecutor urged the court to convict and sentence the convict, in line with his guilty plea and the law. However, Johnson’s lawyer, Sunday Okwo, pleaded for leniency. He informed the court that his client was a first-time offender with no prior criminal record and had shown remorse for his actions. In his judgment, Justice Aluko convicted Johnson and sentenced him to two years’ imprisonment. The court, however, gave the convict an option to pay a fine of N500,000 in lieu of serving the jail term.

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Futbol

Barcelona's Olmo Cleared To Play For Rest Of Season

Dani Olmo and Pau Victor are eligible to play for Barcelona for the rest of the season, Spain's National Sports Council (CSD) has ruled. La Liga granted Barcelona temporary licences to register Olmo and Victor last summer, but later revoked their registrations after claiming the club had failed to prove they were complying with the league's financial rules by the deadline on 31 December. The CSD gave Barcelona permission to temporarily reinstate the pair following an appeal in January. On Wednesday, La Liga said that the club do not have the financial capacity to register the forwards. But the CSD annulled the agreement between the Spanish top flight and the country's football federation (RFEF). The CSD said the two players' registrations remain valid as the RFEF acknowledged that "there is no federation resolution that agreed to the cancellation of the licences" and that its decision not to grant a licence is "null and void". La Liga said it will appeal the decision. In a statement on Wednesday, La Liga said it had lowered Barcelona's wage cap after irregularities with their end-of-year accounting for the 2024-25 season. Barcelona announced a deal on 3 January to sell VIP boxes at the club's Nou Camp stadium, which is being rebuilt, to raise 100m euros (£83m) in order to meet La Liga's Financial Fair Play rules and extend the registrations of Olmo and Victor. But La Liga said the deal had not been recorded in accounts submitted by Barcelona to the league last week, and that the deal had been approved by a different, unnamed auditor. Olmo was part of Barcelona's academy before leaving to play for Dinamo Zagreb and RB Leipzig. Barcelona paid £52m to reunite with the Spain international last summer and he has featured 28 times this season, including 13 since the CSD's ruling. Victor also came through Barcelona's famed La Masia academy and has played 22 times this term, with five of those appearances coming since the ruling.