News on the Go: 5 things that should matter to you today

• Security, economy have improved under my watch, says Tinubu
• Elon Musk steps down from U.S. government role after rift with Trump
• Nigerians face visa delays as Trump suspends F1 Visa appointments

We have highlighted the five most important developments in the news today, Thursday, May 29, and present them below.

5 issues in the news that should matter to you today

1. Security, economy have improved under my watch, says Tinubu: President Bola Tinubu has highlighted significant strides made during his two years in office, citing improvements in national security and economic growth.

In a mid-term review statement, Tinubu revealed that Nigeria’s external reserves surged from $4 billion in 2023 to over $23 billion by the end of 2024, an increase of nearly 500%.

He defended his administration’s controversial decisions to remove fuel subsidies and devalue the naira, stating that they were necessary steps to stabilise and reposition the economy for long-term growth.

2. SEC warns Nigerians against Silverkuun investment scheme: The Securities and Exchange Commission (SEC) has issued a strong warning to the public about investing in unregistered schemes, specifically naming Silverkuun Investment Cooperative Society and Silverkuun Limited.

According to a circular released on Wednesday, May 28, the SEC stated that these entities are operating illegally, posing as registered investment advisers and fund managers without proper authorisation.

The commission urged Nigerians to avoid these companies and always verify the registration status of investment platforms before committing their funds.

3. Nigerians affected as Canada announces new immigration caps: The Canadian government has announced a significant shift in immigration policy, introducing a cap that will reduce the number of temporary foreign workers and international students to below five per cent of the country’s population by 2027.

This announcement came during King Charles III’s speech at the opening of Canada’s 45th Parliament.

Authorities say the move aims to rebalance the immigration system and rebuild public trust amid growing concerns about economic and social pressures.

4. Elon Musk steps down from U.S. government role after rift with Trump: Tech billionaire Elon Musk has announced his departure from his advisory role in the U.S. government, following a public disagreement with President Donald Trump over a proposed federal spending bill.

In a statement on X (formerly Twitter), Musk thanked Trump for the opportunity but criticised the bill for increasing the deficit and undermining the work of the Department of Government Efficiency (DOGE), which has overseen mass layoffs in an attempt to cut waste.

5. Nigerians face visa delays as Trump suspends F1 Visa appointments: Nigerian students planning to study in the United States could face extended delays after President Donald Trump ordered a suspension of new student visa appointments worldwide.

The directive, part of a broader effort to increase social media screening of international applicants, affects F (academic), M (vocational), and J (exchange) visas. A U.S. State Department cable confirmed that embassies and consulates, including those in Nigeria, must pause all new scheduling for these visas until further notice, leaving many aspiring students in limbo.