Many of them claimed that they preferred to sell their wares to the countries because they had stronger currencies compared to the naira.

This, several experts have said, may lead to hoarding and an artificial grain scarcity and can cause the price of the goods to further head north, thereby leading to a food crisis if nothing is done about it.

This is coming at a time when the country is battling severe hunger, as the prices of staples have increased by over 300 per cent.

The country is also witnessing the highest inflation in 28 years, with the food inflation rate in January hitting 35.41 per cent.

Nigeria’s annual inflation rate rose to 29.90 per cent in the same month from 28.92 per cent in December 2023, according to official figures from the National Bureau of Statistics.

For instance, a bag of long grain rice now sells for almost N80,000 as against N45,000, which it sold for in December 2023. A crate of eggs now sells for almost N5,000; in December, it sold for N2,700.

According to Clement Nze, the Director General of the agency, these floods are primarily caused by flash floods, inadequately constructed or absent flood channels, and insufficient drainage systems throughout the country.

Nze made these statements during a press briefing held at the agency’s headquarters in Abuja on Tuesday. He further clarified that even if the Lagdo Dam were to collapse, its impact would not extend beyond Numan in Adamawa State.

The Director General noted that the dam is currently closed, and while urging for calm, he emphasized that flood alerts had been issued to states that would be adversely affected since February.

Additionally, Mr. Nze is advocating for the establishment of earth dams along the tributaries of the Niger and Benue rivers, and he is urging swift progress in constructing the Kashimbila Dam in Adamawa State.

He also clarified that the Memorandum of Understanding (MoU) signed between Nigeria and Cameroon in 2016 does not mandate Cameroonian authorities to notify Nigeria prior to releasing water from the Lagdo Dam.

During a press briefing in Abuja, organized by the Presidential Committee established by President Bola Tinubu, Dr. Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, stated that the newly formed committee would execute a range of policies and rescue operations aimed at minimizing the consequences of the flooding from the Lagdo Dam.

Edu called on the Nigeria Governors’ Forum to take swift action by ensuring the immediate relocation of Nigerians from flood-prone communities to safer areas.

She said, “This coordinating meeting is holding at the instance of President Bola Tinubu, who directed such after I raised the issue of flooding in today’s Federal Executive Council meeting. Mr President directed that all relevant ministries must meet to find a solution to the issue of flooding.

“As earlier stated, the Lagdo Dam in Cameroon was opened recently and we will see the effect in the coming days. Flood has been a major issue in Nigeria and has been causing loss of lives and property. We have been given a task by Mr President to ensure proper preparedness against the effect of the opening of the Lagdo Dam.

“One of the things government in different states must begin to do is to ensure that drainages are cleaned. Blockages must be removed. Also, proper enlightenment and sensitisation of residents must be carried out.

“Residents in affected areas must begin to relocate to safer planes. States must stand up to involuntary relocations. It is inconceivable to witness avoidable loss of lives and property.”

The Minister of Environment, Iziaq Salako, as well as the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, joined the humanitarian minister during the briefing, and promised to intensify efforts against the devastating impact of floods.

This was according to a circular referenced: FPR/AML/PUB/BOF/001/029, which was issued, on Thursday, by the Director, Financial Policy and Regulation, Mr Chibuzo Efobi.

According to CBN, Nigerian banks and other financial institutions need to watch transactions with those countries because they had been recently placed on a grey list by the Financial Action Task Force.

The Financial Action Task Force is an international body whose purpose is to develop and promote measures to combat money laundering, terrorist and proliferation financing.

Any country under increased monitoring is actively working with the FATF to address strategic deficiencies in its regime to counter money laundering, terrorist financing, and proliferation financing.

The apex bank also said that the Democratic People’s Republic of Korea, Iran and Myanmar remain on the list of high-risk jurisdictions, which banks should closely monitor.

The Circular reads in part, “The attention of banks and other Financial Institutions is drawn to the outcomes of Financial Action Task Force Plenary conducted from June 21-23, 3023 and subsequent addition of Cameroon, Croatia and Vietnam to the list of jurisdictions under ‘Increased Monitoring.’

“Furthermore, Democratic People’s Republic of Korea, Iran and Myanmar remain on the list of high-risk jurisdictions, subject to ‘Call for Action.’

“Consequently, enhanced due diligence should be applied and in severe cases, counter-measures may need to be implemented to safeguard the international financial system.”

The CBN added that Russia remains suspended from the FATF, and banks need to stay vigilant and beware of any risks from transactions with the listed countries.

“Additionally, we would like to emphasise that the suspension of the Russian Federation from the FATF remains in effect.

“FIs are to be vigilant to and be alert to possible emerging risks resulting from the circumvention of measures taken to protect the international financial system.

“In light of these developments, FIs are directed to note all additions to jurisdictions under ‘Increased Monitoring,’ as well as, high-risk jurisdictions subject to a ‘Call-for-Action’ and take necessary measures to mitigate these risks effectively,” the CBN said.

Earlier in February this year, Nigeria was also grey-listed by the FAFT.

A recent statement from the Nigerian Financial Intelligence said the country’s positive push to get out of the grey list has compelled the FATF to slash Nigeria’s 84 identified deficiencies to 15.

In a video that surfaced online, football fans were seen struggling to get access to the stadium.

A Cameroon-based television, CRTV, reported that “half a dozen deaths and dozens have been injured”.

Confederation of African Football confirmed the incident in a statement, saying that investigation is ongoing.

The statement read, “CAF is aware of the incident that took place at Olembe Stadium during the TotalEnergies Africa Cup of Nations fixture between hosts Cameroon and Comoros tonight, 24 January 2022 “CAF is currently investigating the situation and trying to get more details on what transpired. We are in constant communication with Cameroon government and the Local Organizing Committee. Tonight, the CAF President Dr Patrice Motsepe sent the General Secretary, Veron Mosengo-Omba to visit the supporters in hospital in Yaoundé.”

The clash is to take place on June 4 in Wiener Neustadt, south of the Austrian capital.

SEE FULL LIST

Goalkeepers: Francis Uzoho (APOEL Nicosia, Cyprus); John Noble (Enyimba FC); Maduka Okoye (Sparta Rotterdam, The Netherlands).

Defenders: Chidozie Awaziem (FC Boavista, Portugal); William Ekong (Watford FC, England); Olaoluwa Aina (Fulham FC, England); Jamilu Collins (SC Paderborn 07, Germany); Tyronne Ebuehi (FC Twente, The Netherlands); Valentine Ozornwafor (Galatasaray FC, Turkey)

Midfielders: Oghenekaro Etebo (Galatasaray FC, Turkey); Wilfred Ndidi (Leicester City, England); Abdullahi Shehu (Omonia Nicosia, Cyprus); Frank Onyeka (FC Midtjylland, Denmark); Abraham Marcus (CD Feirense, Portugal).

Forwards: Ahmed Musa (Kano Pillars FC); Alex Iwobi (Everton FC, England); Peter Olayinka (Slavia Praha, Czech Republic); Victor Osimhen (Napoli FC, Italy); Kelechi Iheanacho (Leicester City, England); Moses Simon (FC Nantes, France); Anayo Iwuala (Enyimba FC); Terem Moffi (FC Lorient, France); Paul Onuachu (KRC Genk, Belgium); Simy Nwankwo (Crotone FC, Italy)

The fixture is to help the squad get prepared for their 2022 Fifa World Cup qualifying campaign which will begin in September.

Eto’o, who is 38,  began his career with Real Madrid and went on to play for 13 clubs including Barcelona, Inter Milan, Chelsea, Everton , and Sampdoria.

Eto’o won three La Liga titles and two Champions League trophies with Barcelona also helped his country to win Olympic gold at the 2000 Games in Australia, the Africa Cup of Nations in 2000 and 2002.

He also scored 56 goals in 118 appearances for his nation and was voted African Player of the Year four times, a record he holds with former Manchester City midfielder Yaya Toure.

In a short message on Friday night (Sept. 6) the Cameroon legend regarded as one of the greatest African players of all-time announced that he has decided to call time on his career after leaving Qatar SC earlier this year.

He wrote on Instagram: “The End. Towards a new challenge. Thank you all, big love.”

Nigeria scored the first goal through Odion Ighalo in the 19th minutes but Cameroon scored two quick goals in the 41th (Stephane Bahoken) and 44th (Clinton Njie) minutes to take a 2-1 advantage going into the half time break.

It was an electrifying second half which saw Nigeria score two goals in three minutes as Ighalo got his second goal for the night on the 63th and turn provider for Alex Iwobi on the 65th minutes.

The match ended 3-2 as Nigeria will now face the winner between Egypt and South Africa, who will play later tonight.