₦airaland Forum

Automated border control systems (ABC) or eGates are automated self-service barriers which use data stored in a chip in biometric passports along with a photo or fingerprint taken at the time of entering the eGates to verify the passport holder's identity. Travellers undergo biometric verification using facial or iris recognition, fingerprints, or a combination of modalities. After the identification process is complete and the passport holder's identity is verified, a physical barrier such as a gate or turnstile opens to permit passage. If the passport holder's identification is not verified or if the system malfunctions, then the gate or turnstile does not open and an immigration officer will meet the person.

DEXTROVERT:
Poor journalism

You
Should
Have
Described
How
It
Works

The Nigeria Customs Service (NCS) has reduced the exchange rate for import duties collection from N1238.1 to the dollar to N1,147/$. This represents a decline of N91.1 since the last reduction on April 10th April.

The customs exchange rate for duties collection has stayed at N1238/$ for over a week now- the longest it has stayed at a particular rate in recent times.

The Nigeria Customs Service (NCS) through the CBN has consistently fixed the exchange rate to reflect then official market rate on the NAFEM window hence the regular changes in rate.

Strengthening of the naira

The naira in the past one month has strengthened significantly in both in official and parallel market occasioned by the reforms instituted by the CBN. Some of the reforms include; selling USD to BDCs at N1101/$, cash pooling for IOCs which limited the amount of FX they could repatriate immediately and others.

The significant gains in the value of the naira in recent time has made the Analysts at Goldman Sachs predict the naira to be one of the best performing currencies globally.

In an interview, the President of the Association of Bureau De Change Operators (ABCON) stated that BDC operators were buying dollars at N980/$– a figure far below the FX rate on the official window.

Decline in FX reserve

In recent times, many have accused the management of the apex bank for defending the naira with the country foreign reserve on the back of observed declines in the FX reserve.


Nairametrics earlier reported that Nigeria’s foreign reserve dropped by over $2 billion in the past one month. According to the report, the FX reserve dropped from $34.45 billion to $32.29 billion- the lowest in about six years.

However, the Governor of the CBN, Yemi Cardoso in an engagement during the World Bank-IMF spring summit noted that the bank does not intend to defend the naira rather the decline in the foreign reserve was due to payment of external debt obligation.

The Federal Government has vowed to take stringent regulatory measures against traders “unfairly inflating prices” of goods and commodities.

The government, through its agency, the Federal Competition and Consumer Protection Commission (FCCPC), expressed worry that despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices of goods and commodities.

“This situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation,” the Commission’s chief Adamu Abdullahi said in a statement on Wednesday.

“The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households. As a result, the Commission is taking proactive steps to address this issue.

“While the FCCPC cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions.

“This includes monitoring and investigating unusual price hikes, addressing complaints filed by consumers, and taking action against any businesses found to be engaging in anti-competitive practices such as price-fixing, price gouging or cartel formation.”

The Commission said its operatives have been directed to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities.

“The operatives will be working collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels. This will encourage increased competition, ultimately leading to lower prices for consumers.”

‘Economy In Right Direction’

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the Nigerian economy is moving in the right direction as policies of the new administration has started slowing down food inflation.

The minister spoke virtually on Channels Television’s Business Incorporated programme on Tuesday from Washington DC where he is attending the IMF-World Bank Spring Meetings.

Prices of food and basic commodities have gone through the roof in the last weeks, as Nigerians battle one of the country’s toughest economic crises sparked by the current government’s twin policies of petrol subsidy removal and unification of forex windows.

On Monday, the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report showed that the food inflation rate in March 2024 stood at 3.62%, showing a decline of 0.17% from February 2024, when it was 3.79%. But despite the drop recorded by the NBS, many Nigerians have lamented that the reduction has not reflected in the cost of basic food items like garri, millet, yam, bread coupled with energy and housing costs.

Though the naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,100/$1 now, inflation rate stood at 33.20% for March 2024 and interest rate at 24.75%.

Peter Obi and his Obidient movement cannot match the Tinubu government in savvy politics, political networking and getting out the votes. But they can and will defeat this administration in gaslighting and propaganda if the Tinubu government does not step up their game in countering propaganda.

The regime is doing a good job in projecting the positive things that are happening under the President. But they have to win over those who have been brainwashed by this movement. Do not underestimate Obidients. These guys have a natural gift for propaganda and can create an alternate reality.

Even today, many years after it was disproven, some of them get upset with you if you disagree with their mass delusion that Buhari died and was replaced with a clone from Sudan. You become the crazy person, while they are the sane ones. They even have a date of death for their own Buhari (much as I believe his reign was a mistake, may Buhari live long). They have photoshopped headlines where the African Union gave a minute of silence in respect of their Buhari.

This movement has so many distortions of history and can marshal out alternative facts, that you begin to question even your own moral compass.

For example, it is wrong for the National Assembly to buy 400 SUVs for Legislators, but it is okay for Obi to have purchased 400 SUVs for Anambra Igwes, because times were different. But when you tell them that Labour Legislators did not reject their SUVs, they say, 'You can't blame Obi for that'. But, they want to blame Tinubu for what the Legislature is doing. There is a disconnect!

If this government cannot find a way to neutralise the echo chamber with which they sustain their ecosystem of delusion, they will continue preaching to their choir that:

Peter Obi won the 2023 election
Bola Tinubu did not graduate from Chicago State University
That Obi developed Anambra, and Tinubu destroyed Lagos
Gbadebo Rhodes Vivor was rigged out in Lagos
The Tinubu administration frustrated Air Peace
Boko Haram were recruited into the Nigerian Army
The demolitions in Lagos were targeted rather than planned
Other people voted moved by tribalism, except their movement

Each of these postulations is a lie. But such is the power of propaganda, that if not countered, the lie becomes the truth.

#TableShaker

FreedomfromtheT:
Same absurd narrative and propaganda.
So sensible isn't it?
Who did Peter Obi insult?
Who did Peter Obi ask his supporters to insult?

FreedomfromtheT:
'The children in our school need to pass Mathematics very well.
I know a very good Mathematics teacher but I would rather employ am average Mathematics teacher because I don't like the relatives of the competent one.
There is a very good medical doctor in that hospital but I would rather go to a quack doctor to operate on me because I don't like the way the family members of the good doctor talk to me.
I know a competent pilot but I would rather board the plane of a quack pilot so as to show my disdain for the relatives of the competent pilot'
I am not very wise?

Piggyyeaster2:
they Laboured in vain

leanonme82:
Im not sure its the same track o, or maybe it was extended, not sure. This is the red line and its tracks are new.

The reason sanwo olu was able to do it fast is because most of its tracks are on the ground. Few routes above ground, so not like the blue line that is mostly above ground.

You can search 'red line' on twitter and see all the videos of the track. It doesnt look like the old one.

MT:
Atiku's petition is being bloodied as I type.

How can you approach the Tribunal without clear cut evidence. The Tribunal Judge was so clear and pointed out the loopholes in their petition.

For instance, Atiku claimed his votes were reduced without citing exact number of votes that were reduced and the pooling booth it took place.
The tribunal said it was too generic and evasive and lacks substance.

ume:
We are talking about the rail line here not the trian source of power ,Educate me on the engineering behind riging a rail way line with high voltage and train will still run on it

SpartaOfLagos:
If you're a Muslim and you carry Islam on your head like Gala , know that in Dubai that's even more Islamic than you in Nigeria named one of there mosque after Mary the mother of Jesus .

So calm down and tolerate other people with different faith.

God bless the federal republic of Nigeria.


See photos below

https://believersportal.com/united-arab-emirates-mosque-renamed-to-mary-mother-of-jesus/

Oduok:
Sending kids to holiday lessons makes no sense.

Most of you will make your kids go to school till they become useless. You took them to school at age 3 and abandon them there. During long vacation you still send them to school. To do what?

Can't you spend time to bond with your kids? What exactly are they going to achieve in school during vacation? Vacation lesson only favour school owners, not you. Allow kids rest for God's sake.

If you should engage kids during long vacation then teach them skills. Enrol your kids in centres that they can learn practical computer usage, coding, programming, painting and decoration, catering, musical instruments. Let them learn martial art, how to shot guns, how to wrestle. Teach them something beyond pure academics.

If a school should organize long vacation class then it should gear towards extra curricula activities - debate, modelling, music concert, science fair, mini project. How would you call kids back to school during holiday to learn Math, English, Chemistry, Social studies, accounting, by same teachers that taught them during school period. What is the difference? If these teachers knew what to teach why didn't they do it during normal school session.

Education is beyond memorizing facts. Give your kids opportunity to develop and be better prepare for life.

oneolajire:
A time Nigeria was under the tyranny of Abacha, witnessed economic downturn and we children of teachers could hardly eat and our parents pay house rent.

Nig suddenly won the Olympic soccer gold and it seems we have all been fed by the cup. The joy of winning temporarily united the nation alongside the Abacha junta.

Best ever football team Nigeria ever produced

Rossikk:
STOP TALKING RUBBISH.

WHAT ‘ARAB CIVILISATION’?

What makes you think that it wasn’t Arabs who learnt from Africans?

Arabs are a very recently established race, compared to Africans, and can never be credited with ANY African achievements or civilisation.

Just leave that garbage out of this thread.

What you see in the north is TRADITIONAL HAUSA ARCHITECTURE, and it has absolutely NOTHING to do with Arabs.

If it looks like Arab architecture, it is because the Arabs learnt from the ancient Nubians and Kushites, who are related to the northern Nigerians.

Rossikk:
This is the entrance to the palace of the Emir of Kano, and it was built in the 16th century, 400 years before British colonisation.

Look how tall the building is.

Look at the size of the woman compared to the building’s height.

That is pretty advanced civil engineering if you ask me.

And somebody has the guts to say that white people brought civilisation to us?

Seems like we were pretty CIVILISED long before they came!

https://upload.wikimedia.org/wikipedia/commons/b/b4/The_Kano_State_Emirs_Palace_entrance.jpg

Tinubu appoints Special Investigator to probe CBN
The appointment is with immediate effect and Mr Obazee is to report directly to the President.
ByTemidayo Akinboyo July 30, 2023


President Bola Tinubu has appointed Jim Obazee as a Special Investigator to probe the activities of the Central Bank of Nigeria and other Related Entities.

In a letter dated 28 July, seen by PREMIUM TIMES, Mr Tinubu said the appointment of Mr Obazee, relying on the fundamental objective set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria(as amended), was in furtherance of his administration’s anti-corruption fight.

The appointment is with immediate effect and Mr Obazee is to report directly to the President.

According to the letter signed by the president, the full terms of Mr Obazee’s engagement as a special investigator will be communicated to him in due course.

Mr Obazee is a former chief executive officer of the Financial Reporting Council of Nigeria (FRCN).

Specific directives
President Tinubu specifically directed Mr Obazee to take immediate steps to ensure the strengthening and probity of key Government Business Entities and block leakages in the CBN and related GBEs.

He also directed the special investigator to provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (whether private or public).

Also, the president directed Mr Obazee to investigate the CBN and related entities using a suitably experienced, competent and capable team and to work with relevant security and anti-corruption agencies to deliver on the assignment.

Mr Obazee is expected to brief the president weekly on the progress being made concerning the assignment.

In the letter, President Tinubu directed Mr Obazee’s attention to his directive to suspend the CBN governor, Godwin Emefiele, on 9 June.
The suspended CBN boss was arrested in his Lagos home by operatives of the State Security Service (SSS) a day after his suspension by Mr Tinubu. He was then flown to Abuja.
The SSS is prosecuting him for possession of an unregistered firearm and the Federal High Court in Abuja granted him bail last week.

The SSS, shortly after the bail was granted, re-arrested him on the court premises leading to an altercation between some officers of the security service and that of the Nigerian Correctional Centre who attempted to whisk him away to their custody.

The secret service is yet to publicly state the reason Mr Emefiele is still being detained despite being granted bail by the court.