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It Is Fake, It Is Apocryphal, Buhari Never Promised To Make One Naira Equivalent To One Dollar —- Femi Adesina

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The Presidency has said President Muhammadu Buhari never promised to make one naira equivalent to one dollar.

Femi Adesina, a presidential spokesman, described the claim as fake and false.

“It does not exist, it is fake, it is false, it is apocryphal, it doesn’t”, Adesina said on Channels Television’s Sunday Politics.

Some Nigerians insist Buhari and the ruling All Progressives Congress (APC) made the promise during the 2015 election campaign.

The issue is also regularly debated on social media.

Currently, a dollar is being exchanged at N480 at the black market despite the official rate of below-N400.

The exchange rate of the Nigerian currency is the major reason behind the calls for naira devaluation.

Last week, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), attributed the rising inflationary trend to insecurity.

Emefiele also attributed the hike in petrol pump price, electricity tariff, and Naira depreciation to inflation.

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Most Trump Tariffs Are Illegal, US Court Rules

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A US appeals court has ruled that most of former President Donald Trump’s sweeping tariffs are unconstitutional.

Back in April, Trump announced global tariffs on all imports into the United States, including a 14% levy on Nigerian goods. Since then, he has alternated between rolling back some measures and intensifying others.

Trump had argued that the tariffs were legally justified under the International Emergency Economic Powers Act (IEEPA), which empowers the president to act against “unusual and extraordinary” threats.

But in a 7–4 ruling, the Washington appeals court disagreed, holding that Trump exceeded his authority. The judges noted that the IEEPA “neither mentions tariffs (or any of its synonyms) nor has procedural safeguards that contain clear limits on the president’s power to impose tariffs.”

However, the panel stopped short of cancelling the tariffs outright, leaving room for a potential appeal before the US Supreme Court.

Reacting on Truth Social, Trump insisted his tariffs remain intact:
“ALL TARIFFS ARE STILL IN EFFECT!”

“If these Tariffs ever went away, it would be a total disaster for the Country. It would make us financially weak, and we have to be strong,” he wrote.

The former president also expressed confidence that the Supreme Court would eventually uphold his tariff policies.

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Music Industry Is Filled With Darkness — Tiwa Savage

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Tiwa Savage, the award-winning Nigerian singer, has spoken out about challenges in the music industry, describing it as “filled with darkness.”

During an Instagram Live session, the You 4 Me crooner said her faith in God has helped her remain grounded and prevented her from “falling” despite the negative influences she has observed.

She explained:
“This industry is filled with so much darkness. I wish you guys knew, so much darkness. But I thank God that I’ve kept my eyes on Him. I haven’t fallen.”

Savage also addressed reactions to her latest project This One Is Personal, revealing that some critics dismissed the album because it lacked “big-name features.”

According to her, she intentionally chose to create a deeply personal record without club hits, focusing instead on authenticity. She emphasized that she values having genuine supporters more than having a massive fan base.

She said:
“When I put out the track list of my album, I saw so many people saying I didn’t feature the big names from America or the A-listers.”

“They just automatically concluded that because I don’t have those features on the album, it’s not going to be good.”

“I wish people understood music the way I understand it. Yes, I don’t have huge cosigns, and I wasn’t actively seeking them. All I have is all I have, isn’t it?”

“Honestly, having you guys is enough for me. Sometimes, like they say, you don’t need a lot of people, you just need the right people. I don’t need millions of fans, I just need the right ones.”

Reflecting on the album’s journey, she disclosed that it took more than two years to complete and involved many setbacks, doubts, and discouragement from those who felt a vulnerable project would not succeed commercially.

“There were so many hurdles I wish I could tell you guys about—the fights, the challenges, the people who doubted me and told me that doing this type of vulnerable record wouldn’t work, that nobody would listen or care.”

“People just want to hear gbedu, bangers, and club records. I don’t have any club records, and they said it wasn’t going to work, that people wouldn’t stream it.”

This is not the first time Tiwa Savage has raised concerns about the music scene. Back in January, she had described the industry as being “filled with dangerous sharks.”

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Cardoso Meets Brazil’s Central Bank Chief, Says Afro-Brazilian Community Will Boost Remittance Flows

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During Nigeria’s President Tinubu’s state visit to Brazil, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), met with Gabriel Galípolo, President of Brazil’s Central Bank. The discussion underscored the potential of Brazil’s Afro-Brazilian community—the world’s largest population of African descent outside Africa—to significantly increase remittance flows between the two nations.

A press statement from the CBN confirmed that the meeting featured wide-ranging economic dialogue focused on monetary policy, regulatory cooperation, and financial stability.

Cardoso emphasized the need for deeper institutional connections and knowledge-sharing between the central banks. He highlighted opportunities in payment systems, fintech development, and mobile money, stating:
“Nigeria is building a more resilient financial system to attract capital, harness diaspora remittances, and create a stable environment where trade and investment can thrive.”
He also noted:
“Brazil’s experience in financial inclusion offers important lessons, just as Nigeria’s fintech sector has insights of its own.”

Galípolo welcomed the discussions, affirming Brazil’s interest in expanding collaboration to support mutual financial stability and prosperity.

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