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☆ Nigeria's President Tinubu suspends central bank governor
▼ + stars: | 2023-06-09 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

ABUJA, June 9 (Reuters) - Nigeria's President Bola Tinubu has suspended central bank Governor Godwin Emefiele with immediate effect, following ongoing investigation of his office and planned reforms in the financial sector, the head of the government said on Friday. Tinubu criticised Emefiele's handling of the currency and monetary policy at his inauguration last week and called on the central bank to work towards a unified exchange rate. "President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect," the government said in a statement. Emefiele has been directed to hand over operations to the deputy governor, who will act as the central bank governor pending the conclusion of investigation and the reforms, the statement said. On Wednesday, the central bank allowed the naira to weaken by 2% on the official market to a record low.

Persons: Bola Tinubu, Godwin Emefiele, Tinubu, Bola Ahmed Tinubu, Mr Godwin Emefiele, Emefiele, Muhammadu Buhari, Felix Onuah, Chijioke Ohuocha, Marguerita Choy, Chris Reese Organizations: Central Bank Governor, Financial, Thomson Locations: ABUJA, Nigeria

☆ Tingo hires law firm to conduct independent review after Hindenburg's claims
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

June 8 (Reuters) - Tingo Group said on Thursday it had hired law firm White & Case LLP to conduct an independent review after short-seller Hindenburg Research earlier this week alleged that the fintech firm had "fabricated" its financials. The company, which has refuted the allegations of misrepresentation and tax delinquency outlined in the report, said it will make no further comment until the review was complete. "Prior to today's appointment of White & Case LLP, the Company had commenced its own review to confirm, among other things, the number of farmers on Tingo Mobile and the Nwassa platform, the relationships with its contracted cooperatives, the relationship with the All Farmers Association of Nigeria, and the Company's cash balances," Tingo said. The company is Hindenburg's fourth target this year, after Indian conglomerate Adani Group, Jack Dorsey-led Block Inc (SQ.N) and Carl Icahn's flagship Icahn Enterprises (IEP.O). Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dozy Mmobuosi's, Tingo, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Shinjini Organizations: Tingo, White, Hindenburg, Case, Company, Tingo Mobile, All Farmers Association of Nigeria, Adani Group, Inc, Icahn Enterprises, Thomson Locations: The New Jersey, Africa, Southeast Asia, Nigeria, Bengaluru

☆ Nigerian parents pay school bills with recyclable waste
▼ + stars: | 2023-06-07 | by ( Kazeem Sanni | ) www.reuters.com time to read: +2 min

[1/5] Fatimoh Adeosun, 48, a parent of a student of My Dream Stead, a low-cost school that accepts recyclable wastes as payment, sorts plastic waste for submission, in Ajegunle, Lagos, Nigeria May 19, 2023. My Dream Stead school, in the sprawling, impoverished Ajegunle neighbourhood where the Adeosuns live, is one of 40 low-cost schools in Nigeria's commercial capital that accept recyclable waste as payment. Tuition fees at My Dream Stead stand at $130 per year and the school is expanding into a second apartment block to accommodate its 120 pupils. Some mornings, Fatimoh and Fawas walk to the school together with bulging sacks of rubbish over their shoulders. The waste is weighed on school premises and its sales value added to Fawas' account.

Persons: Adeosun, Stead, Temilade Adelaja, Fawas Adeosun, Fatimoh, Alexander Akhigbe, Seun Sanni, Sofia Christensen, Matthew Lewis Organizations: REUTERS, Temilade, Fawas, Thomson Locations: Ajegunle, Lagos, Nigeria, Temilade Adelaja LAGOS, Nigerian, recyclables

☆ Samuel Fosso, known for his iconic self-portraits of famous figures, wins prestigious photography prize
▼ + stars: | 2023-06-07 | by ( Maheshpreet Kaur Narula | ) edition.cnn.com time to read: +4 min

These faces aren’t from history books – they are self-portraits of renowned photographer Samuel Fosso, and they have earned him this year’s Deutsche Börse Photography Foundation Prize. A jury then awards one artist a £30,000 ($37,000) prize for their significant contributions to contemporary photography. Samuel Fosso strikes the iconic pose of Olympian Tommie Smith in this photograph from the 2008 series "African Spirits." Samuel Fosso/Courtesy JM Patras, Paris“It’s never evident, what Black people suffered for independence or during slavery,” said Fosso. And yet he was still surprised to receive a call announcing he’s won this year’s Deutsche Börse Photography Foundation Prize.

Persons: Samuel Fosso, Maison, ”, ” Fosso, Martin Luther King, Jr, Shoair Mavlian, “, He’s, Prince Nico Mbarga, Tati, –, Fosso, Kwame Nkrumah, Malcolm X, Muhammad Ali, Angela Davis, Tommie Smith, Paris “ It’s, Fondation Louis Vuitton, he’s, they’ve, ” Samuel Fosso’s Organizations: CNN, Börse, ’, Central African, Guggenheim, Fondation Louis, Tate Locations: London, Europe, Nigerian, Paris, Cameroon, Nigeria, Biafra, Central African Republic, Ghana’s, New York

☆ Nigeria central bank allows naira to weaken 2% to record low
▼ + stars: | 2023-06-07 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +1 min

ABUJA, June 7 (Reuters) - Nigeria's central bank allowed the naira to drop about 2% on the official market to a record low on Wednesday, but the currency's rate remained above where it trades at central bank auctions and on the black market. Nigeria is trying to find a way to unify its multiple exchange rate system, used to keep the naira artificially strong. In the past, the bank has allowed the naira to weaken in 5 naira increments. The central bank has been adjusting the naira gradually on the official market to avoid a large-scale devaluation. Last Thursday, the central bank denied devaluing the naira, following media reports of a big fall in the currency after Tinubu met the central bank governor.

Persons: Bola Tinubu, Tinubu, Chijioke, Alexander Winning, Christina Fincher Organizations: New, U.S, Traders, Thomson Locations: ABUJA, Nigeria

☆ Bombing of herders highlights deadly air attacks by Nigerian military
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +19 min

The letter said the Nigerian Air Force is committed to human rights and “further deliberations” on the issue, according to the report. “The absence of details raises the question of whether the air force carried out the air strike based on mere suspicion,” Human Rights Watch said. The U.S. State Department and the Pentagon had no immediate comment about the airstrike or the U.S. relationship with the Nigerian Air Force. Before now, neither the Nigerian government nor the military had provided any public explanation for what happened on Jan. 24. ACLED data show Nigerian Air Force strikes continued to claim the lives of noncombatants, inside and outside the northeast.

Persons: Ibrahim Muazu, “, ACLED, D.D, Pwajok, ”, Sara Jacobs, herdsmen, Oladayo Amao, Amao, “ miscreants, Muhammadu Buhari, Bola Tinubu, Jan, Muazu, Lamido, Nigeria’s, Sanusi, Buhari, Rand Paul, Cory Booker, Rex Tillerson, Lai Mohammed, Jacobs, Jim Risch, Chris Smith, Antony Blinken, Biden, Risch, brazenly “, ” Abubakar Bello Rukubi, ” “, Yemi Osinbajo, cc’d, Samuel Ortom, herder, ” Muazu, Humeyra Pamuk, Daphne Psaledakis, Idrees Ali, Jarrett Renshaw, David Lewis, Reade Levinson, Simon Newman, Catherine Tai Design, Eve Watling, Julie Marquis, Alexandra Zavis Organizations: herder, Reuters, Air Force, Nigerian Air Force, Human Rights Watch, Air, Rights Watch, Ministry of Defence, Nigerian Air, House Foreign Affairs, ” Reuters, ACLED, Planet Labs PBC, U.S . State Department, Pentagon, ”, Muazu, Congress, San Frontieres, Republican, Punch, UK, Nigeria –, Systems, U.S, Super, International, Development, Rights Initiative, Benue State Livestock Guards, Human Rights, Daily Trust, Nigeria’s Locations: Nigerian, Nasarawa, Akwanaja, United States, U.S, Nigeria, California, Kano, Rann, Cameroonian, Zamfara, “, Benue, ” Benue, London, Makurdi, Naka, Washington, Philadelphia

☆ Fintech Tingo's shares slump as short-seller Hindenburg takes aim
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Tingo Group (TIO.O) shares halved in value on Tuesday after short-seller Hindenburg Research criticized its founder and alleged that the fintech firm had "fabricated" its financials. Hindenburg also said Tingo was an "exceptionally obvious scam" and called out founder Dozy Mmobuosi's claims of having developed "the first mobile payment app in Nigeria". The New Jersey-based holding company, whose shares shed more than 59% to $1.04, operates in Africa, Southeast Asia and the Middle East. Shares of IEP have erased a fifth of their value after Hindenburg accused the company of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. Conglomerate Adani's market value took a $100 billion hit after the short-seller accused it of improper use of offshore tax havens.

Persons: Hindenburg, Tingo, Dozy Mmobuosi's, Dozy Mmobuosi, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Anil D'Silva Organizations: Tingo, Hindenburg Research, Reuters, Adani Group, Inc, Icahn Enterprises, Thomson Locations: Nigeria, New Jersey, Africa, Southeast Asia, Bengaluru

☆ Oil prices tick down with OPEC meeting in rear view
▼ + stars: | 2023-06-06 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 0020 GMT. The voluntary cut, Saudi Arabia's biggest in years, is on top of a broader deal by the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia to limit supply into 2024 as OPEC+ seeks to boost flagging oil prices. The OPEC+ pumps around 40% of the world's crude. Market participants are now waiting to see if the U.S. Federal Reserve will hike or hold interest rates in June for more trading cues. Traders pegged the chances of the Fed pausing its interest rate hikes at its June 13-14 meeting at 78%, according to the CME FedWatch Tool.

Persons: Brent, Christine Lagarde, Arathy Somasekhar, Himani Sarkar Organizations: Brent, U.S . West Texas, Saudi Arabia's, Organization of, Petroleum, U.S . Federal, Traders, Central Bank, ECB, Thomson Locations: Saudi Arabia, U.S, Russia, OPEC, Vienna, Nigeria, Angola, Houston

☆ Oil rises on Saudi plan to deepen output cuts from July
▼ + stars: | 2023-06-05 | by ( Noah Browning | ) www.reuters.com time to read: +3 min

[1/2] General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. Both contracts extended gains of more than 2% on Friday after the Saudi energy ministry said the kingdom's output would drop to 9 million bpd in July from about 10 million bpd in May. Consultancy Rystad Energy said the additional Saudi cut is likely to deepen the market deficit to more than 3 million bpd in July, which could push prices higher in the coming weeks. "The immediate market impact of this Saudi cut is likely lower, as drawing inventories takes time, and the market likely already put some meaningful probability on a cut today," the bank's analysts added. In contrast, the United Arab Emirates (UAE) was allowed to raise output targets by 200,000 bpd to 3.22 million bpd to reflect its larger production capacity.

Persons: Ahmed Jadallah, Brent, WTI, keener, Suvro Sarkar, Bjarne Schieldrop, Goldman Sachs, Noah Browning, Florence Tan, Emily Chow, David Goodman Organizations: REUTERS, Saudi, Brent, . West Texas, Saudi Arabia's, Organization of, Petroleum, DBS Bank, OPEC, Rystad Energy, United Arab Emirates, Thomson Locations: Saudi, Saudi Arabia, OPEC, Arabia, Russia, Nigeria, Angola, UAE

☆ Oil jumps 2% on Saudi plan to deepen output cuts from July
▼ + stars: | 2023-06-05 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel. The group, known as OPEC+, pumps around 40% of the world's crude and has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand. "The oil market now looks like it will be even tighter in the second half of the year." Consultancy Rystad Energy said the additional cut by Saudi is likely to deepen the market deficit to more than 3 million bpd in July, which could push prices higher in the coming weeks. By contrast, the United Arab Emirates was allowed to raise output targets by around 200,000 bpd to 3.22 million bpd.

Persons: Baker Hughes, Goldman Sachs, Brent, Florence Tan, Diane Craft, Sonali Paul Organizations: Saudi, Brent, . West Texas, Organization of, Petroleum, ANZ, Rystad Energy, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, OPEC, Nigeria, Angola, United Arab Emirates, UAE, United States

☆ Gunmen kill dozens and kidnap children in northern Nigeria
▼ + stars: | 2023-06-05 | by ( ) edition.cnn.com time to read: +1 min

Reuters —Gunmen in Nigeria have killed dozens of people and kidnapped a number of children in separate attacks in two northern states, police and residents said on Sunday, the latest incidents in a region dogged by armed violence. Armed gangs on motorbikes frequently take advantage of thinly stretched security forces in the region to kidnap villagers, motorists and students for ransom. Residents said armed men had attacked Janbako and Sakkida villages in northwestern Zamfara state on Saturday, killing 24 people. The gunmen also abducted several children who were collecting firewood in a forest in neighboring Gora village. In north central Benue state, gunmen killed 25 people and set their houses on fire during an attack on Saturday on the Imande Mbakange community, two residents said.

Persons: Janbako, Hussaini Ahmadu, Abubakar Maradun, Yazid Abubakar Organizations: Reuters, Gunmen, Police Locations: Nigeria, Zamfara, Gora, Janbako, Benue

☆ Analysis: Saudi Arabia's 'icing on the cake' oil cut could feed US producers
▼ + stars: | 2023-06-05 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +5 min

With the new Saudi reduction, the group has agreed to take some 4.6 million bpd off the market in July, equivalent to 4.6% of global demand of 100 million bpd. OPEC+ also agreed on Sunday to extend the group's existing supply cuts of 3.66 million bpd into 2024. In response, oil prices rose nearly $2 a barrel early on Monday to $78 per barrel . "This market needs stabilisation," Saudi Energy Minister Prince Abdulaziz bin Salman said on Sunday, calling his surprise decision to deepen Saudi production cuts "the icing on the cake" for the deal. So far this year, a weakening global economy, concern about the U.S. banking crisis, and a slow Chinese recovery from COVID-19 restrictions have capped oil prices.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Natasha Kaneva, Morgan, Tamas Varga, Jorge Leon, Sunday's, JPM, Kaneva, Alex Lawler, Ahmad Ghaddar, el, Dmitry Zhdannikov, Simon Webb, Barbara Lewis Organizations: Saudi Energy, OPEC, White, International Energy Agency, Rystad Energy, United, Thomson Locations: Saudi, Saudi Arabia, OPEC, U.S, Russia, Ukraine, Riyadh, United States, States, COVID, Angola, Nigeria, United Arab Emirates

☆ Oil prices jump more than $2 per barrel after Saudi pledges to cut more output
▼ + stars: | 2023-06-04 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Brent crude futures was at $78.42 a barrel, up $2.29, or 3%, at 2219 GMT after earlier hitting a session-high of $78.73 a barrel. U.S. West Texas Intermediate crude climbed $2.27 a barrel, up 3.2%, or $74.01 a barrel, after touching an intraday high of $75.06 a barrel. Saudi Arabia's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years, its energy ministry said in a statement. The group, known as OPEC+, pumps around 40% of the world's crude and has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand. By contrast, the United Arab Emirates was allowed to raise output targets by around 0.2 million bpd to 3.22 million bpd.

Persons: Florence Tan, Diane Craft Organizations: Saudi, Brent, . West Texas, Organization of, Petroleum, ANZ, United Arab, Thomson Locations: SINGAPORE, Saudi Arabia, Saudi, Russia, OPEC, Nigeria, Angola, United Arab Emirates, UAE

Saudi's energy ministry said the country's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years. "This is a Saudi lollipop," Saudi Energy Minister Prince Abdulaziz told a news conference. EXTENSION TO END OF 2024OPEC+ has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand, including 2 million bpd agreed last year and voluntary cuts of 1.66 million bpd agreed in April. In addition to extending the existing OPEC+ cuts of 3.66 million bpd, the group also agreed on Sunday to reduce overall production targets from January 2024 by a further 1.4 million bpd versus current targets to a combined of 40.46 million bpd. By contrast, the United Arab Emirates was allowed to raise output targets by around 0.2 million bpd to 3.22 million bpd.

Persons: Prince Abdulaziz, Brent, Amrita Sen, Gary Ross, Giovanni Staunovo, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes, Barbara Lewis Organizations: Saudi, UAE, Saudi Energy, Organization of, Petroleum, Brent, OPEC, Analysts, Energy, Veteran OPEC, Black Gold, UBS, United Arab, Thomson Locations: Russian, Angolan, VIENNA, Saudi Arabia, OPEC, Saudi, Russia, Ukraine, Nigeria, Angola, United Arab Emirates

Four sources familiar with OPEC+ discussions have told Reuters that additional production cuts were being discussed among options for Sunday's session. Three out of four sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, the new cut would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. Typically, production cuts take effect the month after they are agreed but ministers could also agree a later implementation. Three OPEC+ sources also said the group will address the issue of baselines for 2023 and 2024, from which each member performs cuts.

Persons: Prince Abdulaziz, Sunday's, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, Hugh Lawson, Emelia Organizations: OPEC, Organization of, Petroleum, Reuters, Brent, Saudi Arabia's Energy, Thomson Locations: VIENNA, Nigeria, Angola, OPEC, Russia, West, UAE, Ukraine, China, India

MOSCOW, June 4 (Reuters) - Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel on Sunday following a meeting of the OPEC+ group of leading oil producers. He said that total production cuts, which OPEC+ has undertaken since October 2022, reached 3.66 million bpd to ensure stability on the global oil market. Separately, Novak's office said that Russia will tweak its crude oil production level to 9.828 million bpd from Jan.1, and taking into account earlier announced additional voluntary reduction of 500,000 bpd, its output target will stand at around 9.3 million bpd. "That's the indicator (interest rate decisions), which is having an impact on investments, on demand for oil and oil products," he said. He said the data from secondary sources related to the OPEC+ voluntary cuts starting from May will emerge in the middle of this month.

Persons: Alexander Novak, Rossiya, Novak, Vladimir Soldatkin, Angus MacSwan Organizations: Organization of, Petroleum, U.S . Federal, Thomson Locations: MOSCOW, OPEC, Russia, Nigeria, Angola

ABUJA, June 4 (Reuters) - Nigeria's state oil firm NNPC Ltd is winding down crude swap contracts with traders and will pay cash for gasoline imports, its chief executive told Reuters, adding that private companies could begin importing petrol as soon as this month. And we now have an arm's-length process where we can pay cash for the imports," Kyari told Reuters in an interview late on Saturday. This is the first time NNPC has said it is terminating crude swap contracts. In its report detailing March crude oil loadings, NNPC also allocated crude to the swap contracts held by the consortiums. Nigeria has struggled to meet its OPEC oil quota of 1.742 million bpd due to grand oil theft and illegal refining.

Persons: Bola Tinubu's, Tinubu, NNPC, Kyari, MacDonald Dzirutwe, Camillus Eboh, Julia Payne, Susan Fenton Organizations: NNPC, Reuters, Dangote Refinery, Thomson Locations: ABUJA, Nigeria, Ukraine, Dangote, NNPC, Vienna

☆ Who Owns the Benin Bronzes? The Answer Just Got More Complicated.
▼ + stars: | 2023-06-04 | by ( Alex Marshall | ) www.nytimes.com time to read: +1 min

After years of ignored pleas and stonewalled requests, deals were finally coming together to return some of Africa’s most prized treasures to the continent. The Smithsonian Institution, the Metropolitan Museum of Art and the German government announced they were returning scores of sculptures, plaques and ornaments, known as the Benin Bronzes, that British soldiers had plundered in 1897 from Benin City, in what is now Nigeria but was once the center of a kingdom. Plans were underway for a glittering new museum designed by the British Ghanaian architect David Adjaye to showcase and protect the returned treasures. At a moment when museums worldwide are trying to come to grips with contested artifacts in their collections, this development underscores how complex restitution efforts can be. It decreed that any returned artifacts “may be kept within the palace of the oba,” or in any location that he considers secure.

Persons: David Adjaye, Muhammadu Buhari, oba Organizations: Smithsonian Institution, Metropolitan Museum of Art Locations: Benin, Benin City, Nigeria, British Ghanaian

Three OPEC+ sources told Reuters on Friday that cuts were being discussed among options for Sunday's session. The three sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. If approved, this would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand. Typically production cuts take effect the month after they are agreed, but ministers could also agree a later implementation. Two OPEC sources said the ministers could also discuss new production baselines from which each member performs cuts.

Persons: Leonhard, Hayan Abdel, Ghani, Suhail Al Mazroui, Prince Abdulaziz, Ahmad Ghaddar, Alex Lawler, Maha El Dahan, Julia Payne, Dmitry Zhdannikov, David Holmes, Frances Kerry, Christina Fincher Organizations: Austrian, REUTERS, OPEC, Organization of, Petroleum, Reuters, UAE's Energy, Brent, Saudi Arabia's Energy, International Energy Agency, JPMorgan, Thomson Locations: Vienna, Austria, Saudi, OPEC, VIENNA, Russia, Ukraine, China, India, West, Nigeria, Angola, UAE

[1/5] People put out burning barricades that were set on fire by supporters of Senegal opposition leader Ousmane Sonko, after Sonko was sentenced to prison in Dakar, Senegal June 1, 2023. Nine people were killed in clashes between riot police and Sonko supporters on Thursday after he was sentenced to two years for corrupting youth. The opposition says the verdict, which could prevent Sonko from running in elections next year, was politically motivated. Cheikh Anta Diop University in Dakar was the epicentre of Thursday's violence, with protesters setting buses alight and throwing rocks at riot police, who responded by firing tear gas. One student, Alioune Ndiaye, said he planned to travel hundreds of miles to his home in eastern Senegal to escape the violence.

Persons: Ousmane Sonko, Sonko, Abdou Karim Fofana, Cheikh, Alioune Ndiaye, Macky Sall, Sall, Mouhamad Diouf, Diouf, Adji Sarr, Cheikh Hann, Bate Felix, Cooper Inveen, Sofia Christensen, Anait, Edward McAllister, Angus MacSwan, Frances Kerry Organizations: REUTERS, Army, Security, Cheikh Anta Diop University, Authorities, Thomson Locations: Senegal, Dakar, DAKAR, Senegalese, West, Ouakam

ABUJA, June 2 (Reuters) - Nigeria's main labour union said on Friday it plans to go on strike from Wednesday to protest against a tripling of fuel prices in what would be the first big test for new President Bola Tinubu after he scrapped a costly fuel subsidy. The price increase has led to a sharp rise in transport fares and Estonian ride-hailing and food delivery startup Bolt said it had hiked its prices in Nigeria, citing increased operating costs due to higher fuel prices. Nigeria's fuel subsidy cost the government billions of dollars annually but was popular as it helped keep prices low in Africa's biggest oil producer, which is still grappling with high poverty rates among residents. But Nigerian Labour Congress (NLC) president Joe Ajaero, after an emergency meeting of the union's executive council in Abuja, said the state oil company NNPC should reverse the price hike. On Friday, the president said Nigeria needs to review its minimum wage of 30,000 naira ($65).

Persons: Bola Tinubu, Bolt, Joe Ajaero, Ajaero, MacDonald Dzirutwe, Kirsten Donovan, Angus MacSwan, Aurora Ellis Organizations: Nigerian Bureau, Statistics, World Bank, Labour Congress, Nigeria Labour Congress, Wednesday, Thomson Locations: ABUJA, Nigeria, Abuja

☆ Kenya central bank says digital currency not a 'compelling priority'
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

NAIROBI, June 2 (Reuters) - Kenya's central bank does not consider the issuance of a digital currency a "compelling priority" but it will continue monitoring developments in the area to help future decisions on issuance, it said on Friday. The bank invited views from the public on the potential introduction of a central bank digital currency (CBDC) in February last year, in a shift from its original opposition to crypto assets, but it has decided not to issue any. "Implementation of a CBDC in Kenya may not be a compelling priority in the short to medium term." The East African nation is renowned for the wide usage of mobile money payments. Nigeria became the first African country to launch a digital currency in 2021.

Persons: Duncan Miriri, Emelia Sithole Organizations: Thomson Locations: NAIROBI, Kenya, Nigeria

☆ Opinion | Fareed Zakaria on Where Russia’s War in Ukraine Stands — and Much More
▼ + stars: | 2023-06-02 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +96 min

Obviously, the line is not perfect, but I think that’s a very sensible line. And I don’t think that’s all about absorption capability. But I don’t think it’s fair to say that the Russians have done everything they can. fareed zakaria[LAUGHS] And by the way, I think that’s some key to understanding the alliance is a personal one. I think India, Israel, and Poland — usually, in the 70 percent-plus say they like — have a favorable view of America.

Persons: ezra klein, it’s, Fareed Zakaria, Zakaria, “ Fareed Zakaria, fareed zakaria, Ezra, Putin, They’ve, there’s, fareed zakaria It’s, they’re, It’s, Fidel Castro, Sean Penn, haven’t, you’re, won’t, Biden, They’re, Washington, Winston Churchill, Merkel, wouldn’t, —, Nancy Gibbs, Khomeini, Macron, Ron DeSantis, YouGov, fareed zakaria I’m, that’s, DeSantis, Lindsey Grahams, Mitch McConnell, Xi Jinping, ezra klein Yes, Xi, Gorbachev, Zelensky, Trump, Obama, Bush, United States —, McCarthy’s, I’ve, they’d, doesn’t, didn’t, ezra klein They’re, fareed zakaria They’re, we’ve, Simpson, I’m, Janet Yellen, Colin Powell, unquote, That’s, Jonathan Haidt, We’ve, he’s, fareed zakaria That’s, they’ve, fareed zakaria Well, gee, TikTok, we’re, George Kennan, Mike Gallagher, klein, Nirupama Rao, Bob Kagan, can’t, — fareed zakaria, Lord Mountbatten, Gandhi, Franklin Roosevelt, Ho Chi Minh, fareed zakaria Right, narratively —, Modi, you’ve, China’s —, fareed zakaria Modi, India’s, Advani, Vajpayee, you’d, There’s, India, Joe Biden, fareed zakaria I’ve, Benedict Anderson’s “, Orville Schell, John Delury, Sunil Khilnani, ezra klein Fareed Zakaria Organizations: CNN, The Washington Post, Putin, Starbucks, Russia, Revolutionary Guard, NATO, Ukrainian, Communist, European Union, U.S, Republican Party’s, Republican Party, Republicans, ASEAN, Trump, Defense, United, U.S ., Democrats, Chinese Communist Party, State, Facebook, Google, Soviet Union, Huawei, Twitter, South China Seas, Foreign Affairs, Yale Law, International Criminal, South China, . Security, Trade Organization, Pax Americana, Americana, New York Fed, America, Republican, Fox, Beijing Locations: ezra klein Russia, Ukraine, Russia, America, Europe, China, India, Russian, United States, Relatedly, Japan, Turkey, Holland, South Korea, Singapore, Iran, Venezuela, Central America, Southeast Asia, Washington, Britain, ‘, U.S, United Europe, Germany, Soviet Union, Vietnam, Beijing, Trump, Asia, Iraq, Hainan, Montana, Republic, Soviet, weirdly, South, Taiwan, Pakistan, New Delhi, South Africa, Kuwait, Russia’s, Eden, Saudi Arabia, Indonesia, Kashmir, it’s, Cuba, Pax, American, Mumbai, Shanghai, Israel, Poland, Indian, Nigeria

DAKAR, June 1 (Reuters) - Nine people were killed in Senegal on Thursday in clashes between riot police and supporters of opposition leader Ousmane Sonko after a court sentenced him to two years in jail, casting serious doubt on his chances of running for president next year. The justice ministry said the opposition leader could now be taken to prison at any time. Police remained stationed around his home Dakar as unrest flared in the capital and elsewhere after the verdict. But Sall's second term has been particularly turbulent for a country usually viewed as one of West Africa's strongest democracies. Separately, Sonko is appealing against a six-month suspended prison sentence for libel - an offence he also denies.

Persons: Ousmane Sonko, Sonko, Bamba Ciss, Sonko's, Antoine Felix Abdoulaye Diome, Abdou Karim Fofana, Ndiack Fall, Macky Sall, Sall, Ngouda Dione, Bate Felix, Diadie Ba, Edward McAllister, Sofia Christensen, Alessandra Prentice, Matthew Lewis, Andrew Heavens, Daniel Wallis Organizations: Police, REUTERS, University, Thomson Locations: DAKAR, Senegal, Dakar, Dakar Senegal, West, Lincoln

Sonko, 48, was accused of raping a woman who worked in a massage parlour in 2021, when she was 20, and making death threats against her. "With this sentence Sonko cannot be a candidate," said one of his lawyers, Bamba Cisse. University law professor Ndiack Fall said Sonko could demand a retrial if he turns himself in to authorities. But Sall's second term has been particularly turbulent for a country usually viewed as one of West Africa's strongest democracies. Separately, Sonko is appealing against a six-month suspended prison sentence for libel.

Persons: Ousmane Sonko, Bamba Cisse, Ndiack Fall, Sonko's, Sonko, Macky Sall, Sall, Ngouda Dione, Bate Felix, Sofia Christensen, Estelle Shirbon, Christina Fincher, Matthew Lewis Organizations: University, REUTERS, Thomson Locations: DAKAR, Dakar, West, Dakar Senegal, Senegal

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