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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Bank completes the acquisition of National Bank of Kenya

    ELECTION: Cutix Plc reschedules Board Meeting

    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

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    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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Trump cancels Biden’s security clearance, escalates Foreign aid Crackdown

Saturday, 8 February 2025, 4:59 pm
in News, World
0
Trump cancels Biden’s security clearance, escalates Foreign aid Crackdown
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In a series of rapid and bold moves, the 78-year-old billionaire has frozen aid to South Africa, the birthplace of his key donor, Elon Musk, and has appointed himself as the head of the Kennedy Center, a prestigious cultural venue in Washington. “There is no need for Joe Biden to continue receiving access to classified information,” Trump stated on his Truth Social network, adding that he was “immediately” revoking the Democrat’s security clearances and ending his daily intelligence briefings.

“JOE, YOU’RE FIRED,” he exclaimed in all caps. Traditionally, former US presidents are granted the right to receive intelligence briefings even after leaving office. Trump has also intensified his criticism of the United States Agency for International Development (USAID), which provides humanitarian aid worldwide. “THE CORRUPTION IS AT LEVELS RARELY SEEN BEFORE. CLOSE IT DOWN!” he declared on Truth Social, without presenting any evidence. USAID has faced severe scrutiny since Trump initiated a campaign, supported by Musk—who is the world’s richest person—to cut back or dismantle significant parts of the US government.

On Friday, Musk, along with Trump, shared misleading information regarding USAID’s finances and reposted images showing the agency’s signs being removed from its Washington headquarters. The Trump administration has halted foreign aid, ordered thousands of international staff to return to the US, and begun reducing USAID’s workforce from 10,000 employees to approximately 300.

Labor unions are contesting the legality of these actions, and a federal judge has temporarily paused the administration’s plan to place 2,200 USAID workers on paid leave by the weekend. Democrats argue that it would be unconstitutional for Trump to close government agencies without legislative approval.

The current US budget allocates about $70 billion for international assistance, which is a small portion of overall spending, yet it yields significant returns. USAID operates health and emergency programs in around 120 countries, including some of the world’s poorest regions, enhancing Washington’s efforts to compete for influence against rivals like China. Samantha Power, the former USAID chief under President Biden, criticized the situation in a harsh opinion piece in the New York Times, stating, “We are witnessing one of the worst and most costly foreign policy blunders in US history.”

Hard-right Republicans and libertarians have long questioned the necessity of USAID and have labeled its spending as wasteful. Additionally, Trump appointed himself as the chairman of the Kennedy Center, asserting that the venue did not reflect his values. “Just last year, the Kennedy Center featured drag shows specifically targeting our youth — THIS WILL STOP,” he wrote on Truth Social, without clarifying which show he was referencing.

Trump has consistently criticized gender-nonconforming individuals. He followed up on his promise to freeze US aid to South Africa, citing a law he claims allows farmland to be seized from white farmers, despite denials from Johannesburg. Musk has frequently criticized the South African government. Musk and his so-called Department of Government Efficiency (DOGE) have aggressively targeted agencies that Americans have typically taken for granted. While Democrats have found it challenging to counter these budget-slashing maneuvers, legal actions are slowly emerging. A judge recently blocked Trump’s attempt to overturn the constitutional guarantee of birthright citizenship and paused plans for mass buyouts of federal workers, pending arguments on Monday.

Vivian Ifunanya Gerald

Engineer, Entrepreneur, forex trader and Analyst

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