₦airaland Forum

BUA Chairman Rejects APC Finance Committee Membership
Abdulsamad Rabiu, the chairman of BUA Group, has declined his nomination to the finance committee set up by the APC, citing his preference for an apolitical stance.


The billionaire industrialist, a close ally of President Bola Tinubu, stated that he was not consulted before being included in the committee and cited his demanding schedule as a reason for not being able to commit time.
BUA Group emphasized Mr. Rabiu’s consistent apolitical stance and his focus on economic growth through business initiatives and philanthropy.
The list of committee members, including Rabiu, was posted by the APC despite his earlier statement
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EFCC arraigns a popular elder of seventh day adventist church and his wife over an alleged N500m fraud
A former senior banker with Polaris bank, Mrs. Ugochi Dike and her husband Architect Emmanuel Dike who is also a popular elder of seventh day adventist church were arraigned before a federal high court sitting in Port Harcourt.
Mrs Ugochi Dike is alleged to have d£frauded a company, Clip Nigeria Ltd, to the tune of 500 million with the guise of investing into contracts execution with NNPC, SPDC and other IOCs with clear terms of return of investments to Clip Nigeria Ltd.
The company alleged that after a while of no returns, they realise they had been d£frauded and asked to refund the principal money from Mrs Ugochi Dike. Unable to refund the money, she claimed her husband, Arch. Emmanuel Dike, invested the money into his Cryptocurrency trading business .
The couple who are facing a 5 counts charge with suit number FHC/PH/458C/23 FRN vs UGOCHI EZIAKU DIKE & ORS were brought to court from the custody of the EFCC on a 5 counts charge which include:
Count 1: C%nspiracy, obtaining money by f@lse pr£tenses contrary to section 8(a) of Advance Free Fr@ud and other fr@ud related offenses Act, 2006 p¥nishable under section 1(3) (See charge sheet for more).
Justice P. Ajoku of Federal Court 1 who heard the matter on Wednesday granted them a million naira bail, and adjourned the matter till the 30th of January, 2024.
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80% Percent of Victims of Demolished Homes Are Yorubas, Stop Bringing Ethnic Politics Into Environmental Issues South-West Professional Forum (SOWPROF)

The South-West Professional Forum (SOWPROF) has said that the majority of illegal structures demolished in Lagos are owned by Yoruba people.
The SOWPROF, in a statement signed by its Assistant General Secretary, Lateef Kayode, which was made available to journalists in Ado-Ekiti, yesterday, dismissed insinuations that the demolition was targeting a particular group.
The professional group said attempts by a few people to ethnicise the environmental issue is self-serving.
“We have done diligent checks. We have a compilation of all the victims of the demolition in Lagos. We have done extensive compilation of the victims and the issues involved. Some 80 per cent of the victims of the demolished buildings are from the South-West region.”
The group said it is a pity that ethnic politics is being introduced to the attempt by the Lagos State Government to deal with serious environmental hazards that have led to flooding, deaths and that even threaten the future of the people of the state.
It, therefore, urged the Lagos State Governor, Babajide Sanwo-Olu, not to be deterred by parochial critiques introducing ethnic politics into a purely environmental issue.
SOWPROF said it started the compilation of names of the landlords five months ago and that the names of owners of the demolished buildings are available for the public, adding that demolition of illegal buildings is a nationwide issue.
“It takes place in all the South-East, North-West, North-East and South-South. It has happened in Port Harcourt, Kano, Enugu, Onitsha, Owerri, Aba, Kaduna, Ilorin, Makurdi and in many cities across the country.
“It is unfortunate that some people are exploring the fragile political situation in the country to cause disaffection using the demolition of illegal buildings in Lagos State as a pun in the game.”

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Ex-President Jonathan Released N1.2billion In Cash To Fund Fayose’s Election In Ekiti In 2014 — Ex-Minister, Obanikoro Tells Court
former Minister of state for Defence, Senator Musiliu Obanikoro, on Wednesday, told a Federal High Court in Abuja how former president, Goodluck Jonathan’s government used about N2.2billion to support the election of a former governor of Ekiti State, Ayodele Fayose in 2014.
According to the EFCC release on Wednesday evening obtained by SaharaReporters, the former lawmaker said N1.219billion cash was airlifted to Ekiti State because of the inability of a defunct bank, Diamond Bank, to handle huge amounts of such money.
Recall that Fayose and Spotless Investment Limited are standing trial on 11 charges bordering on money laundering and stealing to the tune of N6.9 billion.
The release said, “A former Minister of State for Defence, Senator Musiliu Obanikoro, on Wednesday, November 29, 2023, told Justice Nnamdi Dimgba of the Federal High Court, Abuja, how the inability of a defunct commercial bank (Diamond Bank) to disburse huge sums of money prompted the airlifting of N1.219billion cash to former Ekiti State Governor, Ayodele Fayose for the governorship election in the state.
Fayose is facing trial by the Economic and Financial Crimes Commission, EFCC, alongside his firm, Spotless Investment Limited, following their alleged involvement in N6.9 billion money laundering. When prosecution counsel, Wahab Shittu, SAN, asked him to shed light on the source of the said N1.219billion, Obanikoro replied that he did not know the source of the money and that he only got the information on the money from the former National Security Adviser, NSA, Col Sambo Dasuki (retd).

“He explained that it was the former NSA that contacted him that the said money had been paid into the account of Sylvan Mcnamara Ltd.
“He told the court that: “I was a minister under Jonathan administration in 2014. Sometime in 2014, we were going to have an election in Ekiti State. I was saddled with the responsibility of coordinating the activities in the election. Some days before the election, I got a call from Governor Fayose asking me if I received any message for him from ONSA, I can recall that prior to that, we had some activities among which was fund raising for the purpose of that election.
“When Mr. Fayose called, I told him I would call him later. I had a phone conversation with the NSA, and was told he would get back to me. After, he got back to me that N2.2billion was paid into the account of Sylvan Mcnamara Ltd,” he added.
“The money came from the NSA. I can’t vouch for the source of the funds. Only the NSA can explain the source of the fund.”
“I handed over the N1.219million cash to Agbele for onward delivery to Fayose. I did not take any money or N19million, contrary to a publication by a Lagos-based online platform.”
When asked about his relationship with Sylvan Mcnamara Ltd, the former minster stated that “the account was created to deal with the issue of Boko Haram in Lagos, the account was created by Taiwo Kareem and was used for the purpose of disbursing funds for election. I put a call through to let Fayose know that the money had been paid. Diamond Bank had said it did not have the capacity to make the funds available, so we opted to airlift the funds. The funds were airlifted from Lagos in two tranches, the volume was much.”
“Myself, my ADC and my security orderly were there, including a top aide of Fayose to meet Mr. Agbele, the bank manager. I instructed my orderly to escort Mr Agbele and ensure the safe delivery of the money.”
When Shittu asked him about the source and what the funds were meant for, Obanikoro stated that “it was meant for our election in Ekiti. It came from Diamond Bank. N1.219billion was moved from Diamond Bank out of the N2.2billion.”
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Ibadan woman in Tears as she explains how her husband packed her pant for juju twice.

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FIDA seeks justice for a set of twins who were burnt alive as a result of medical negligence at a hospital in Ikorodu

#JusticeForAbigailBankoleTwins: FIDA seeks justice for a set of twins who were burnt alive as a result of medical negligence at a hospital in Ikorodu, Lagos.
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Old naira notes remain legal tender - CBN
The Central Bank of Nigeria (CBN) has disclosed that the old naira banknotes will remain a legal tender.
In October 2022, the apex bank introduced the redesign of N200, N500 and N1,000 denominations and certain deadlines were set for the old notes of these denominations to cease as legal tenders.
However, on Tuesday, the CBN informed the public of its desire to extend the legal tender status deadline of the old design of N200, N500 and N1,000 denominations, ad infinitum.

“This is in line with international best practices and to forestall a repeat of earlier experiences,” a statement signed by Isa AbdulMumin, Director, Corporate Communications, said.
“Thus, all banknotes issued by the Central Bank of Nigeria (CBN), in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum, even beyond the initial December 31, 2023, deadline.
“The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject.
“Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks (DMBS).
“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.
“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions,” it said.
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ASUU joins NLC and TUC, declares nationwide strike
The Academic Staff Union of Universities (ASUU) has directed its members to join the nationwide strike declared by the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria, starting from Monday midnight, November 13
The President of ASUU, Prof Emmanuel Osodeke, gave the directive in a letter sent to all the union zonal coordinators and branch chairpersons of the union on Monday evening.
“As an affiliate of NLC, all members of our union are hereby directed to join this action of NLC to protect the interest of Nigerian workers and the leadership of the union.
Zonal coordinators and branch chairpersons should immediately mobilise our members to participate in the action.

A people united cannot be defeated,” he said.
It would be recalled that NLC and the TUC embarked on a nationwide strike last week over the ill-treatment of the NLC President, Joe Ajaero during the workers’ protest in Imo State.

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NDLEA should arrest Iyabo Ojo children for taking drugs – Yomi Fabiyi
Nollywood actor Yomi Fabiyi says NDLEA should arrest Iyabo Ojo’s children over drug use.
Iyabo Ojo who came online to accuse Naira Marley for wanting to drug her daughter Priscilla.
Watch video below…

https://featuredgist.com/ndlea-should-arrest-iyabo-ojo-children-for-taking-drugs-yomi-fabiyi/

Blessing CEO Spotted At The Police Station For Bullying Davido
Blessing CEO spotted at the Police station. She reportedly honored their invitation after a petition was filed against her for accusing Davido of owing IVD motors.
Watch video below…

https://featuredgist.com/blessing-ceo-spotted-at-the-police-station-for-bullying-davido/

A former Chief Of Army Staff (COAS), Lt. General Tukur Buratai, has said the insecurity bedeviling the nation since 2009 was the creation of the political class.
He said this on Friday, November 3, while delivering a lecture at the 65th anniversary of the University of Ibadan Alumni Association.
Reports that he also took a swipe at critics calling for his sack over insecurity in the country while he was in office, saying such call stemmed from personal biases rather than an objective evaluation of his performance.
“These individuals might have held negative opinions of General Buratai based on subjective factors, such as personal preferences or biases unrelated to his actual capabilities. It is crucial to approach discussions regarding national security matters with a fair and impartial mindset, focusing on relevant aspects rather than personal biases and idiosyncrasies.
The National Assembly had twice or more passed resolutions calling for the sack of the service chiefs. The President, Muhammadu Buhari had told the ninth National Assembly to mind their business. If properly interpreted, the call by the ninth National Assembly was to derail the democracy by the military.
This should be a lesson for political actors. It was a direct confrontation blaming the service chiefs as if they are the ones who started insecurity. The insecurity being faced in the country since 2009 was the


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The N5 billion presidential yacht has been bought since June — Nigerian Navy
The Nigerian Navy has reportedly confirmed that it had taken delivery of the controversial presidential yacht, said to be worth about N5 billion.
Recall that the Chief Whip of the Senate, Ali Ndume, on Friday, November 3, disclosed that the yacht had been delivered to Nigeria before public outcry.
Confirming the delivery, the Director of Information, Nigerian Navy, Commodore Adedotun Ayo-Vaughan, in an interview on Saturday, November 4, said that the yacht had been in the country since June, 2023.
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EFCC confirms the arrest of 69 suspected yahoo boys in Ile-Ife, Osun State
Operatives of the Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, have confirmed the arrest of 69 suspected internet fraudsters others known as yahoo boys in Osun State.
Recall that students of Obafemi Awolowo University (OAU) had staged a protest on Wednesday, November 1, over the arrest of their colleagues who were arrested by the command during a midnight raid.

They were arrested on Wednesday at Oduduwa Estate area of Ile-Ife following actionable intelligence on their suspected involvement in fraudulent internet-related activities, EFCC said in a statement.
According to the statement, “Credible intelligence linked Oduduwa Estate with activities of suspected internet fraudsters .
The suspects are: Dankuwo Eniola Erioluwa, Mustapha Monsuru Oluwanisola, Adeyeye Timilehin Ebenezer, Toromade Hammed Adedeji, Busari Abdulazeez Ayodeji, Adeleye Olumuyiwa Emmanuel, Oluwasakin Moyosore Favour, Olubini Pere Michael, Oluwadara Emmanuel Benny, Gbadamosi Okikola Omotola, Okusipe Tobiloba Paul, Nnekwelugo Enaemeka, Aghwaritoma Wisdom, Adesina Gbolahan Khalid and Micheal Olugoke Oluwaseun.
Others are: Obafemi Joshua Mayowa, Eronmonsele Anthony Igberaese, Salau Oluwawumi, Jaiyeola Yinka Temitope, Ajayi Ayodeji Olanrenwaju, Oguntade Oluwabukunmi David, Abdulmumini Abdulsamad, Tolulope Oduola Folaranmi, Kayode Abdulraheem Ajuwon, Akinyemi Oluwagbenro Aduragbemi, Ayodeji Olumose Adedeji, Alawode Femi Segun, Junaid Hafiz Adeyinka, Akolade Oladele Sunday, Oyeniyi Banji Andrew, Oladusu Lanrinde Morakinyo, Ojo John Ifeoluwa, Akwuaka Tochukwu Blaise and Ogunleye Daniel Ayobami and Adebowale Omodesire Diekola…
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Why Dangote refinery missed diesel, jet fuel October refining deadline

Sources have provided reasons why Dangote Refinery missed its diesel and jet (aviation) fuel refining deadline.

These sources have attributed that to the inability of the Nigerian National Petroleum Company (NNPC) Limited to supply Dangote Refinery with 300,000 barrels of crude oil per day according to an earlier agreement.

Recall that in September 2023, Devakumar Edwin, Executive Director at Dangote Group, mentioned in an exclusive interview with S&P Global Commodity Insights that the refinery aimed to begin diesel and jet fuel refining by October 2023, followed by petrol refining starting in November 2023.

At the time, he had said that the Dangote refinery would receive its first cargo of crude in the next few weeks and would begin producing up to 370,000 barrels per day of diesel and jet fuel from October 2023.

He also noted that by November 30, the refinery will start the phased ramp-up to 650,000 barrels per day of petrol.

He said:

“We are just waiting for the first vessel. And so as soon as it comes in, we can start.”
However, as of today, October 31, the refinery has yet to commence refining activities. Sources familiar with the matter told Nairametrics that a shortage of available crude oil was the reason for this delay.

One of the sources said:

“It is not true that Mr. Edwin Devakumar lied about the dates provided in September. However, there are some delays when it comes to crude deliveries. But the company is working to resolve these challenges and soon the refinery will begin refining activities.”

According to the sources who spoke to Nairametrics, the Nigerian National Petroleum Regulatory Company (NNPC) Limited has not yet fulfilled the agreement with Dangote Refinery for the delivery of 300,000 barrels of crude oil per day to the facility.

Also, the expected crude imports for the refinery, scheduled for this month, have not arrived for unspecified reasons, causing further delays beyond the anticipated delivery time.
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FGN budgets N5 billion for Presidential yacht and N5.5 billion for student loan
The Federal Government has reportedly budgeted N5 billion for the purchase of a Presidential Yacht and another N5.5 billion for the Education Loan Fund.
The sum is part of the N2.17 trillion supplementary budget President Bola Tinubu sent to the National Assembly for approval, PremiumTimes reports.
According to the document, the Nigerian Navy proposed a capital expenditure of 42.3 billion and a recurrent expenditure of N20.42 billion making a budget of around N62.8 billion.
Other items in the budget proposal from the Nigerian Navy include; the purchase of vehicles, construction of the naval base in Lekki and Epe, provision of critical equipment, and purchase of ammunition.
While N5.1 billion was also budgeted for the rehabilitation of 100 schools in 100 days
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Amaju Pinnick Sues Davido For 2.3 Billion Naira And A 4 Days Apology
The former president of the Nigeria Football Federation (NFF), has taken legal action against Davido for an alleged breach of agreement.
Pinnick claims that Davido failed to appear at the 19th edition of the Warri Again concert in Delta, despite receiving payment and arrangements being made for his transportation.
Pinnick claims Davido received $94,600 to perform at the concert and $18,000 was paid to charter a plane to convey the singer to Warri.

On Tuesday, the organizers of the concert filed a lawsuit seeking N2.3 billion against Davido Music Worldwide (DWM) limited.
The claimant — under the name Brownhill Investments Company Limited — is praying to the court for N150 million as legal and professional fees and an additional N30 million as the cost of filing the suit.
They are requesting a public apology from Davido on his social media accounts and in national newspapers for four consecutive days.
Amaju Pinnick alleges that Davido had previously refused to perform after receiving payments in the past.
The claimant is also seeking an injunction to prevent Davido from performing at any show or event in Nigeria

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Victor Osimhen makes the list of the best footballer in the world as he's ranked 8th
Super Eagles star, Victor Osimhen made history on Monday night, October 30 as the first Napoli player and Nigerian footballer to make the top 10 of the Ballon d’Or rankings.
The Edo born striker is the No. 8 best football player in the world on the 2023 Ballon d’Or list.
The Nigeria international contributed to Napoli’s first Serie A title in 33 years, becoming the 2022–23 top scorer in the league with 26 goals in 32 appearances.
Napoli also reached the Champions League quarterfinals last season, the best result for the Partenopei in Europe’s elite competition.

Osimhen netted five times in six Champions League games last season, and individual achievements, combined with Napoli’s results, have allowed the 24-year-old to earn a spot in the top 10 of this year’s Ballon d’Or.

Ruud Krol finished 15th in 1980, meaning this is the best finish for a Napoli player in the history of the prestigious award.
The other players included in the top 10 are Julian Alvarez, Kevin de Bruyne, Erling Haaland, Lylian Mbappé, Leo Messi, Luka Modric, Rodri, Bernardo Silva, and Vini Jr.
Osimhen’s teammate Khvicha Kvaratskhelia finished 17th, while Inter stars Lautaro Martinez and

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Rema performed his hit single ‘Calm Down’ at the 67th edition of the Ballon d’Or ceremony in Paris.
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Biko Haram may wipe Nigeria off the map — Borno Gov. Zulum
Boko Haram insurgency will wipe the entire Nigeria off the map if nothing is done to contain them, Borno State Governor, Babagana Zulum, has said.
The governor said this while hosting the reconstituted management board of the North-East Development Commission (NEDC) at the council chambers of the Borno State Government House in Maiduguri on Monday, October 30.

According to Channels Television, he said: “The position of Borno State on the map of Nigeria is very important to all of us. Borno State is bordering Chad, Cameroon, and Niger Republic. Our borders are so porous and therefore maintaining security in the North-Eastern subregion entails maintaining the security of the entire country.
While North-West and North-Central and others are speaking about banditry, kidnapping , and others, ours is Boko Haram and ISWAP. It’s better for us to control it, not for the sake of Borno State. The hub of Boko Haram and ISWAP is Borno State. We have to control them.
We have to stop the younger ones from being recruited into Boko Haram and ISWAP, otherwise, in the near future, the entire Nigeria will be wiped off the map.
In Borno State, in the year 2012, about 3.5 million people were displaced. We returned many but still, we have over one million people: internally displaced people living in IDPS camps – that is increasing prostitution in IDP camps, that is increasing procreation without care in the IDP camps. There is drug abuse in the IDP camps.
And therefore we want the intervention of the North East Development Commission. We want you to partner with the state government for us to close these IDP camps so that people can earn their means of livelihood by themselves.
Otherwise, many of the people will decide to join ISWAP and Boko Haram. These people who are living

https://featuredgist.com/just-in-biko-haram-may-wipe-nigeria-off-the-map-borno-gov-zulum/

Trending video of a policewoman making Nigerians ‘proud’ as she recites the national anthem
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Dr DK Olukoya's Favorite Daughter, Tolulope Onakpoya Releases Visual For 'Open Heaven'
Multi-award winning Nigerian gospel singer, composer, songwriter, Tolulope Onakpoya recently dropped a visual of one of the song titled ‘Open Heavens’
The Osun State-born singer who is passionate about touching lives and to further propagate the gospel through music ministry, said the underlying motive for whatever songs she has written and recorded is winning and drawing more souls to God, stressing that any other thing is just an added advantage.
Watch video below….
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Gov Adeleke Hails Supreme Court Judgment, Hopes Tinubu’s Presidency Brings Progress
COMBO of Bola Tinubu (L) and Ademola Adeleke (R)
“It is my hope that your presidency will bring progress, unity, and prosperity to our nation, and I want to restate my commitment to partner with you in offering good governance for our people.”
Governor Ademola Adeleke of Osun State has hailed the Supreme Court judgment that affirmed President Bola Tinubu’s win in the February 15, 2023 presidential election hoping his government will bring peace and prosperity to the country.
“On behalf of the good people of Osun State, I congratulate President Tinubu on his judicial victory at the apex court,” the spokesman of the governor of the main opposition Peoples Democratic Party (PDP) Olawale Rasheed quoted his principal as saying in a Thursday statement.
Adeleke, he said, sent the congratulatory remarks in the presence of the Iyaloja General of Nigeria Folasade Ojo-Tinubu who was in Ede, Osun State to attend the 8th Day Fidau prayer of the father of Osun State Commissioner for Science and Technology Wahab Ayofe.
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Davido breaks silence on Dammy Krane’s debt allegations
Davido, has responded to his colleague, Oyindamola Emmanuel, popularly known as Dammy Krane regarding the allegations of unpaid debts, stating that he had never received compensation for the three verses he contributed to Dammy Krane’s song nine years ago.
Dammy Krane in a post on Tuesday claimed that Davido owed him for their successful collaboration on the song “Pere” and appealed to the musician to settle the debt, citing his daughter’s impending school fees as the reason.
Responding to the allegations on Friday, Davido, in a post on X, pointed out that he had never received compensation for the three verses he contributed to Dammy Krane’s song nine years ago.
Davido also recalled the times he provided shelter and sustenance to Dammy Krane in Atlanta when the latter was homeless.
Davido said, “I never got paid for that also my 3 verses I’ve gifted you all your dead career… .. oh yea plus my royalties, we charge now so that’s about $ 150k x3 a verse.. also house rent and food when u stayed
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“Nigerian roads are bad, we want something we can maintain for 4 years” —Senate speaks on exotic vehicles for members
The Senate has justified the purchase of 360 Sports Utility Vehicles for its members.
The Red Chamber was, however, silent on the actual cost of each vehicle but explained that members preferred the imported SUVs to locally manufactured ones.
Earlier, the Socio-Economic Rights and Accountability Project asked a Federal High Court in Lagos to stop the lawmakers from taking delivery of the SUVs pending the hearing and determination of the applications for injunction filed by the organisation.

The group’s applications for interim and interlocutory injunction followed reports that members of the House of Representatives are set to procure and take delivery of SUVs valued at N57.6 billion. According to reports, each of the SUVs would cost about N160 million.
Reacting to the development at a news conference on Tuesday, the Chairman of the Committee on Senate Services, Sunday Karimi, noted that Nigerians were picking on lawmakers but ignoring ministers who got about four official vehicles.
Karimi said, “Somebody that is a minister has more than three Land Cruisers, Prado and other vehicles and you are not asking them questions, why us?
“These vehicles that you see, go to Nigeria roads today, If I go home once, my senatorial district, I come back spending a lot on my vehicles because our roads are bad.
“I said the decision that we took on using Land Cruiser is the cost and durability…
We want something that we can maintain for another four years and the issue of buying vehicles

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Heaven Rejoices As One Of The gods Danced Like David Danced On A Revival Ground

Laolu Gbenjo and the masquerade finally had a great dance.
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Dollar May Hit N2,000 Before Christmas — Atiku’s Aide Warns As Naira Crashes To N1,310
Daniel Bwala, one of the spokespersons for former Vice President Atiku Abubakar, has expressed concerns that the Nigerian Naira may face a daunting depreciation, possibly reaching an alarming exchange rate of N2,000 to a US dollar before the upcoming Christmas season.
The prediction is coming amid the continued free fall of the naira at the unofficial market.
Bwala lamented that despite President Bola Tinubu’s inauguration of former World Bank official, Wale Edun, as Nigeria’s Minister of Finance and Coordinating Minister of the Economy, along with Yemi Cardoso as Governor of the Central Bank of Nigeria (CBN), the country has not seen substantial improvements in its economic conditions.

Taking to social media, Bwala tweeted, “The way the economy is sinking, if serious care is not taken, by Christmas, the dollar would sell for N2,000. Everything rises and falls on the naira value.”
The former opposition Peoples Democratic Party (PDP) presidential spokesman questioned the effectiveness of the high-profile appointments made by Tinubu, stating, “Where are the Wale Edun and Yemi Cardoso of this world that they told us one will walk on waters and the other would turn water to wine? Big, big grammar, but no single sign of light at the end of the tunnel. Largest cabinet in the world, but only one minister is working; Dr. Olubunmi Tunji-Ojo, Minister of Interior.”

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Naira hits 1060/$ as MAN kicks at policy reversal
The crises festering in Nigeria’s currency exchange market doubled down yesterday with the local currency depreciating further across all segments of the market.
The market yesterday indicated that the Naira went down from N1,100 to USD1.0 mid-day in the parallel market before settling at N1,060 in the major trading hubs in Lagos. It had hovered around N1,025 in the past month in the parallel market.
Though the exchange rate at the official Nigerian Forex Market, the Investors & Exporters (I&E) window gained some respite hovering around N790.61/ $1 yesterday after the downward rate of N848/$1 the previous day, the yesterday rate remained much higher than last week’s level while dealers expected further depreciation from today.

This is coming on the heels of manufacturers calling for the reversals of the Central Bank of Nigeria, CBN, decision to return the 43 items it had earlier banned from its foreign exchange window.
They said the ban was necessary in order to save the nation from looming job crisis, insecurity and collapse of the nation’s economy.
Meanwhile, the Vice Chairman of the Basic Metal, Iron and Steel Products sector of the Manufacturers Association of Nigeria (MAN), Mr Lekan Adewoye, while speaking on a TVC Business Programme, said: “For items that can be produced in Nigeria, such manufacturer ought to be encouraged. This directive will further kill the manufacturing industry that is already struggling to survive. The problem is about policy somersaults, some of our members who have outrightly invested in backward integration will now start to regret this move because everyone who can assess FOREX will claim to be an importer, forcing sincere manufacturers to close shop and increasing the numbers of jobless persons.”
“Nigerian manufacturers don’t really have any competitive advantage over those in other developing countries, at best, what you have is competitive parity, because something has to be an advantage if your competitors don’t have it. And the little incentive that government has provided now it has been removed by the directive from the Central Bank of Nigeria.”
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Maiduguri Prostitutes set to embrace remote-work as Governor orders demolition of brothels, others
The Executive Governor of Borno State, Babagana Zulum, has ordered the demolition of illegal brothels and criminal dens notorious for prostitution , gangsterism and other illicit activities in Maiduguri, the state capital.
governor gave the order during a visit to ‘Bayan Quarters’, a settlement near railway staff quarters in Maiduguri.
He expressed concern about the rise in criminal activities associated with the brothels, saying they must be demolished within 72 hours.
“The government has been duly informed of the activities that are going on here; this settlement is completely illegal.
People are killed here; this place serves as a breeding space for insurgents. Therefore, I have directed that everybody vacate the place.
I understand that this land was approved by the Borno State Government to be used by the Nigerian Railway Corporation (NRC), but unfortunately, it’s been rented out illegally with all forms of criminal activities taking place.
For this reason, the government has revoked the earlier approval, and henceforth, the land belongs

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Federal Government Gets $400m Loan From World Bank For Conditional Transfer To 15million Households
Federal Government has approached the World Bank for a fresh loan of $400m for the conditional cash transfer to 15 million households as one of the measures to cushion the effects of petrol subsidy removal on Nigerians, according to The Punch.

The $400m will bring to $1.2bn the amount that the Federal Government has borrowed from World Bank for the cash transfer as it had earlier secured a loan of $800m for the same purpose.
A source said, “The government is funding the N35,000 wage increase for all federal civil servants and it is not taking a loan. The one the government is taking a loan for is the one of N25,000 multiplied by three months for 15 million households. There is a loan of $800m on this one and the government is adding $400m, making it $1.2bn, which will be used for the conditional cash transfer.”
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