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Nigerian man who went into coma a day after his wedding, dies 6 days later
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Nigerian man who went into coma a day after his wedding, dies 6 days later

A Nigerian Man identified as Christian Ali, who went into coma just a day after his wedding, has reportedly died. Christain, a motorcyle mechanic, was laid to rest in his hometown Enugu Ezike, Enugu State today, Wednesday, November 11. According to Facebook user, Ezema Chekwube, […]

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Nick Cannon for the second time in seven days disses Eminem, suggests rapper is gay in new track
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Nick Cannon for the second time in seven days disses Eminem, suggests rapper is gay in new track

            Actor and singer, Nick Cannon has taken his beef for rapper, Eminem, to another level as he has released a new song, his second Eminem diss song in a week, in which one of the rap lines said  'God shoulda […]

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Nnamdi Kanu’s lawyer sues Nigerian Police, demands N2bn compensation
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Nnamdi Kanu’s lawyer sues Nigerian Police, demands N2bn compensation

Ifeanyi Ejiofor, the lawyer of the leader of the Indigenous People Of Biafra (IPOB) Nnamdi Kanu, has filed a lawsuit against the Nigerian police over an alleged invasion of his house and alleged killing of four occupants by operatives of the force. Ejiofor who filed the lawsuit through […]

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Zimbabwe plans new currency as dollar shortage bites: finance minister

Zimbabwe plans new currency as dollar shortage bites: finance minister

Zimbabwe will introduce a new currency in the next 12 months, the finance minister said, as a shortage of U.S. dollars has plunged the financial system into disarray and forced businesses to close.

In the past two months, the southern African nation has suffered acute shortages of imported goods, including fuel whose price was increased by 150 percent on Saturday.

Zimbabwe abandoned its own currency in 2009 after it was wrecked by hyperinflation and adopted the greenback and other currencies, such as sterling and the South African rand.

Photo: Bitcoinist.com / Reserve Bank of Zimbabwe

But there is not enough hard currency in the country to back up the 10 billion U.S. dollars of electronic funds trapped in local bank accounts, prompting demands from businesses and civil servants for cash which can be deposited and used to make payments.

Finance Minister Mthuli Ncube told a townhall meeting on Friday a new local currency would be introduced in less than 12 months.

“On the issue of raising enough foreign currency to introduce the new currency, we are on our way already, give us months, not years,” he said.

Zimbabwe’s foreign reserves now provide less than two weeks cover for imports, central bank data show. The government has previously said it would only consider launching a new currency if it had at least six months of reserves.

Locals are haunted by memories of the Zimbabwean dollar, which became worthless as inflation spiraled to reach 500 billion percent in 2008, the highest rate in the world for a country not at war, wiping out pensions and savings.

A surrogate bond note currency introduced in 2016 to stem dollar shortages has also collapsed in value.

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Nigerian man who went into coma a day after his wedding, dies 6 days later
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Nigerian man who went into coma a day after his wedding, dies 6 days later

A Nigerian Man identified as Christian Ali, who went into coma just a day after his wedding, has reportedly died. Christain, a motorcyle mechanic, was laid to rest in his hometown Enugu Ezike, Enugu State today, Wednesday, November 11. According to Facebook user, Ezema Chekwube, […]