World News

Mr. Tunde Ogunrinde returned to Nigeria two years ago and now runs a fast-food chain.

Armed with a winning smile, the 42- year old chats easily with the staff working at the fast

food restaurant,  Chicken Republic. But this is all relatively new for the chain’s chief

operating officer. For two decades the father of three lived in the United Kingdom working

in a management position for a hamburger chain. Then two years ago he took the difficult

decision to move his family back to Nigeria, and now he is responsible for 65 Chicken Republic...

Read more: NIGERIA’S THRIVING ECONOMY LURES NIGERIANS BACK HOME.

In the aviation industry in Nigeria, it is common knowledge that foreign airlines

always foist arbitrary fares on Nigerians. They know Nigerians travel a lot and generally do

not question fares they are asked to pay. This informs the relatively high fares they are made to pay for international travels, which many consider highest in the world. This is the main reason big airlines try to outwit one another in the Nigerian market.

Even within the sub-region, passengers from Nigeria pay high fares to other parts of the

world. For instance, where it costs a Nigerian $9846.19 to buy British Airways first class

return ticket to London Heathrow, a distance...

Read more: THE EXPLOITATION BY BRITISH AIRWAYS AND OTHER AIRLINES ON THE NIGERIAN ROUTE.

Deliberations on a bill seeking an amendment to the 2010 Electoral Act to make it possible for

Nigerians living abroad to vote during the country’s general elections, suffered a

setback in the House of Representatives as it was stepped down abruptly.

The bill was sponsored by the head of the House Committee on Diaspora, Abike Dabiri-Erewa,

Seeking an amendment to three sections of the Act pursuant to granting the

Independent National Electoral Commission(INEC) powers to conduct elections beyond the

shores of Nigeria, as well as allow Nigerians living outside the country to vote in all general

elections. Indications that the bill would suffer a setback emerged...

Read more: NIGERIAN LOWER LEGISLATIVE HOUSE STEPS DOWN BILL TO ALLOW NIGERIANS ABROAD RIGHT TO VOTE.

The naira is falling against the United States dollar, according to foreign exchange dealers. This is the result of the continued inability of the Central Bank of Nigeria to meet the demand for the dollar; a development which they said had stretched for 21 consecutive days. Traders told Reuters that the current position of the naira is its weakest since August 14, 2009, when it hit #158 to a dollar.

Meanwhile, traders stressed that the pressure on the naira was largely due to the action of the regulatory bank, as they argued that the apex financial institution had over time refused to meet the demands of dealers.

“The central bank has consistently allowed the depreciation of the naira at its auction in past months and with a large inventory of unmet demand, putting...

Read more: NAIRA DEPRECIATES TO LOWEST LEVEL IN TWO YEARS.