NEWS

Gold and silver prices plunged on Friday, January 30, as investors reacted to US President Donald Trump’s decision to nominate a new chair of the Federal Reserve, while European stock markets closed the week higher and Wall Street edged slightly lower. The sell-off in precious metals began after reports, later confirmed, that Trump had selected former Federal Reserve official Kevin Warsh to replace Jerome Powell as head of the US central bank. Trump confirmed the nomination on Friday via his Truth Social platform, writing that Warsh would be “one of the GREAT Fed Chairmen, maybe the best,” and praising his reliability and presence.Kathleen Brooks, research director at XTB, said the “interesting pick… may give the market some hope that Fed independence will be preserved.” Trump’s repeat...

Anambra State Governor, Chukwuma Soludo, has ordered the immediate remodelling of the Onitsha Main Market, describing the decision as a “tough but necessary” step to secure the market’s future.The directive followed the market’s one-week closure and came after the governor’s recent visit, during which he lamented that the once-renowned “largest market in West Africa” had deteriorated into a shadow of its former self, declaring it “literally dead.”Speaking to traders and other stakeholders at the Light House in Awka on Friday, Soludo attributed the market’s decline to years of poor urban planning and the damaging effects of the Monday sit-at-home order.“The Onitsha Main Market, as it currently exists, is no longer functional,” the governor said. “Our studies show that the market...

Edited in Prisma app with PainterThe National Agency for Food and Drug Administration and Control (NAFDAC) has explained that its enforcement of the ban on alcoholic drinks sold in sachets and small plastic or glass bottles is designed to protect children and young people, not to penalise manufacturers.In a statement issued on Thursday, January 29, NAFDAC Director-General, Prof. Mojisola Adeyeye, said the policy was motivated by public health concerns and mounting evidence that alcohol packaged in sachets and containers below 200 millilitres has contributed to rising cases of underage drinking nationwide.The agency recently commenced enforcement of the ban following a directive from the Senate, with the support of the Ministry of Health and Social Welfare.According to A...