The excitement surrounding the Super Eagles’ clash with Argentina has been dashed as the anticipated match slated for March 26, 2024, in Los Angeles, USA, has been called off.

Football enthusiasts had eagerly awaited the showdown between these two football giants, making the cancellation a major letdown.

The cancellation stemmed from logistical challenges, notably the failure to secure visas for the Nigerian delegation within the stipulated timeframe. The stringent visa policies of the United States posed a significant hurdle, rendering it impossible to facilitate the team’s travel arrangements adequately.

This isn’t the first time such disappointment has befallen Argentina. Earlier, a match scheduled in China was also canceled, further adding to the frustration of football fans. The absence of Lionel Messi from a preceding friendly compounded matters, sparking backlash and prompting ticket refunds to disappointed supporters.

In response to the setback, organizers swiftly arranged for Argentina to face Costa Rica on the same date and venue in Los Angeles. While the change of opponent ensures that the international friendly still goes ahead as planned on the FIFA date, the substitution leaves Nigerian fans yearning for the missed opportunity to witness their team take on the world champions.

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The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 18.75 percent to 22.75 percent.

Lifestyle Nigeria reports that the CBN’s governor, Olayemi Cardoso, announced the rate adjustment at a news conference on Tuesday after the committee’s meeting in Abuja.

The MPR is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.

The rate hike is the first monetary policy decision made by the committee since Cardoso assumed office on September 26, 2023.

Speaking to journalists, the CBN governor said the committee raised the MPR by 400 basis points to 22.75 percent, and adjusted the asymmetric corridor at +100 and -700 basis points from +100 basis points and -300 basis points around the MPR.

He said the committee also increased the cash reserve ratio (CRR) from 32.5 percent to 45 percent, while retaining the liquidity rate at 30 percent.

Speaking on inflation, Cardoso said the rate of change in prices of goods and services rose to 29.9 percent in January 2024 — up from 28.92 percent in the previous month.

According to the CBN governor, the hike in inflation is due to major factors such as rising costs of energy, high fiscal deficits and lingering security challenges in major food-producing areas.

“In addition, global factors such as tight financial conditions, and trade disruptions from ongoing geopolitical tensions remain significant upside risks to the outlook for domestic inflation. Forecasts therefore, indicate that inflation will remain on an upward trajectory in the near term, before commencing a descent,” he said.

He, therefore, said the committee will continue to put measures in place to boost investor confidence and attract capital inflows as well as continue to monitor developments in the global and domestic economies to ensure that inflationary and exchange rate pressures moderate in the near term.

Cardoso also said the next MPC meeting will be held on March 25 and March 26.

The National Drug Law Enforcement Agency, NDLEA, has intercepted what it described as the single largest heroin consignment at the Murtala Muhammed International Airport, Ikeja, Lagos State.

The agency also arrested members of an organised criminal organisation which specialises in trafficking heroin across Nigeria, South Africa, Mozambique, Europe and America in an operation leading to the seizure of the consignment which weighed 51.90Kg on February 12, 2024.

The Chairman of the NDLEA, Buba Marwa, disclosed this while briefing journalists on Tuesday in Lagos.

Marwa said the operation was the single largest seizure of heroin at the airport.

The NDLEA boss said the consignment was concealed in 15 cartons of 2300-watt metal cutting machines.

He noted that there was a parallel between the seizure and the September 18, 2022, seizure of 2,139.5kg cocaine in a warehouse in the Ikorodu area of the state, which he described as the biggest singular cocaine seizure in the history of NDLEA.

According to him, four cartel members linked to the recent seizure were arrested in a follow-up operation conducted by the NDLEA operatives.

He said, “NDLEA operatives at the Murtala Mohammed International Airport Command intercepted a suspicious package at the SAHCO Import Shed of the airport’s Cargo Terminal. The consignment was concealed in 15 cartons of 2300-watt metal cutting machines. Each carton was stocked with three blocks of high-grade heroin. In total, we recovered 45 blocks of the illicit substance with a total weight of 49.70kg.

“After the discovery, we were methodical and meticulous in our investigations. We started with the arrest of the freight agent whose name is Olowolagba Wasiu Babatunde. It turned out that he was hired for clearing services by Mattpee Logistics, a company operated by one Mr. Kola resident in South Africa.”

(Punch)

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