President Bola Tinubu has mourned the victims of the stampede at a children’s funfair in Ibadan, Oyo State, which claimed several lives and left many others injured.

Gatekeeper reports that a day after the tragic incident, 35 minors have been confirmed dead.

In a statement by his spokesman, Bayo Onanuga, the President extended his condolences to the government and people of Oyo State and, particularly, to the grieving families who have lost their children in the unfortunate event.

“President Tinubu has urgently directed the relevant authorities to investigate the circumstances of this tragedy thoroughly.

“The President extends his heartfelt condolences to the Government and people of Oyo State, as well as to the grieving families who have lost their beloved children.

“In this moment of mourning, President Tinubu stands in solidarity with the affected families and offers prayers that the Almighty God will grant peace to the souls of those who have departed in this unfortunate event,” the statement read.

The President stressed that it is imperative to determine whether negligence or deliberate actions contributed to this painful incident, ensuring a transparent and accountable process.

Tinubu also urged the Oyo State Government to take every necessary measure to prevent such a tragedy from reoccurring.

He reiterated his administration’s commitment to the safety and well-being of children, arguing that no event should ever compromise their safety or take precedence over their lives.

The Central Bank of Nigeria, CBN, on Wednesday, in Abuja, announced that the country’s external reserves of $42.01 billion can finance the importation of goods and services for more than nine months.

The apex bank also assured Nigerians of improved economic prospects in 2025.

CBN Governor Olayemi Cardoso disclosed this while presenting the bank’s performance index report to the Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East).

According to him: “External reserves rose from $38.35 billion as of September 30, 2024, to $42.01 billion as of December 12, 2024.

“The increase in external reserves during this period was largely driven by receipts from crude oil-related taxes and third-party inflows in Q3 2024.

“We maintained a current account surplus and witnessed remarkable improvements in our trade balance.

“Our external reserves level can finance over 9.09 months of imports of goods and services or 13.91 months of imports of goods alone. This is significantly higher than the international benchmark of three months and provides a robust buffer against economic shocks,” he explained.

On the issue of cash shortage, the CBN governor reiterated the implementation of a new policy imposing a fine of N150 million on any bank branch found engaging in the illegal distribution of new naira notes to currency hawkers or other unscrupulous individuals.

He also expressed confidence that Nigeria’s economy would improve in the 2025 fiscal year through policies and measures already implemented.

“Distinguished Senators, as we conclude this briefing, I want to highlight that despite the challenges facing our economy, there are clear reasons for optimism.

“The gradual stabilisation of the forex market, ongoing banking sector recapitalisation, and positive growth trends in key sectors—especially the services sector—indicate a path toward recovery and stability,” he said.

The chairman of the committee, apparently impressed by the presentation, remarked that the CBN governor deserved a round of applause—although applause is not permitted in the Senate chamber.

Justice Emeka Nwite of the Federal High Court in Abuja has granted bail to former Kogi governor, Yahaya Bello, in the sum of ₦500 million with two sureties in like sum.

Justice Nwite ruled on Bello’s bail application on Friday.

The judge said the two sureties must swear to an affidavit of means and must be owners of properties in Abuja.

He said the sureties must tender the title documents of the properties, which must be verified by the Deputy Chief Registrar of the court.

The judge also ordered that the ex-governor must deposit his international passport with the court, while he and his two sureties are also to deposit two recent passport photographs with the court.

The judge ordered that Bello be remanded in the Kuje Correctional Centre, Abuja pending the perfection of his bail conditions.

Justice Nwite’s ruling followed Bello’s non-guilty plea to the 18-count charge preferred against him by the Economic and Financial Crimes Commission (EFCC).

The 18-count charge borders on money laundering, breach of trust and misappropriation of public funds to the tune of about N80.2 billion.

When the case was called for hearing on Friday, Counsel for the EFCC, Kemi Pinheiro SAN informed the court of the prosecution’s intention to withdraw an earlier application for abridgement of the earlier date fixed for arraignment.

He said the application had been overtaken by events.

The defendant’s counsel, Joseph Daudu SAN raised no objections and Justice Nwite accordingly granted the request.

Meanwhile, the court fixed February 24 and 28, 2025, for the commencement of full hearing.