₦airaland Forum

Demolition Notice: Oyo Govt Issues 7-Day Ultimatum to IITA, FRCN, Filling Stations, Others on Ojoo-Akinyele Road

The Oyo State Government, under the leadership of Governor Seyi Makinde, has issued a 7-day ultimatum to several institutions and businesses along the Ojoo-Akinyele (Old Oyo Road) corridor to vacate their properties. The directive, issued by the Ministry of Works and Transport, affects the International Institute for Tropical Agriculture (IITA), Federal Radio Corporation of Nigeria (FRCN) Amuludun FM, filling stations, banks, residential buildings, and other commercial structures.

According to the notice signed by Engr. O. F. Fadare, the government declared these properties as illegal structures erected within the Federal Roads Right-of-Way, citing a 2020 directive from the Federal Ministry of Works and Housing. The letter, titled “Notice for Removal of Structures Illegally Erected on the Federal Roads and Bridges Right-of-Way,” referenced an earlier public notice published in March 2020.

Affected property owners have raised concerns, accusing the state government of overreaching the scope of the original FG directive — which they claim primarily targeted filling stations — and described the current move as sudden and alarming.

Many residents expressed shock, stating they had already provided the necessary setbacks for any planned dualization of the road. They warned that the demolition could ruin businesses, worsen economic hardship, and erode public trust.

Some landlords emphasized that they have fulfilled their civic duties, including paying taxes and levies, and urged the government to reconsider its decision, especially given the prevailing economic climate.

Meanwhile, reports suggest that the demolition is part of a broader plan by the Oyo State Government to dualize the Ojoo-Akinyele road and later seek reimbursement from the Federal Government.

Credit :FreshVoiceNewsMedia.com

#OyoState #SeyiMakinde #OjooAkinyele #DemolitionNotice #FRCN #IITA #RightOfWay #freshvoicenewsmedia

After enduring the already difficult process of registering a business name and making full payment, one would expect a smooth and transparent system from the Corporate Affairs Commission (CAC). Instead, the experience has been quite the opposite.

Rather than receiving the certificate of registration via email—as expected and as previously practiced—we are now being forced to log into the CAC portal just to download a document we already paid for. To make matters worse, I was shocked to find that because more than 7 days had passed, I was required to pay an additional ₦10,000 to access my certificate.

This is not only exploitative but grossly unfair to everyday Nigerians who are doing their best to comply with legal and business registration processes. A certificate that should be freely and promptly issued upon payment is now being used as a revenue trap. It is unacceptable that small business owners, who are the backbone of Nigeria’s economy, are subjected to such bureaucratic and financial hurdles.

We urge CAC and relevant oversight bodies to review this policy and restore trust in public service delivery. Digital processes should make life easier for citizens, not more expensive and frustrating

what is happening to BUA cement

Do 10 rooms

chinchum:
What if it is murder-suicide by the man. How did they arrive at the chronology of the incident?

At what point was the door locked from the inside?
What type of object was used in cutting off the mans penissss?

I have unanswered questions, but cant understand hiw the conclusion was made with both parties dead at the time of accessing them.

On that basis of the background incident, i tend to believe that the man felt emanciated and less of a man in his home possibly due to alleged adultery by his wife then decided to kill her and cut off his dick thereafter ensuring they both die while the door is locked.

Since the man was a policeman, i suspect the police authorities also controlled the narrative and shut people up from critical thinking. "Before i die" statement to his minor child also suggests he may have been thinking death.

That's a lie, he has the opportunity of marrying another woman. A man can't cut if his own dick just to cover his murder. He is a police man he has gun and can bite the bullet.He can plan the wife's death without any suspition based on his police experience. A bad woman will always b a disaster waiting to happen

When a woman cheat, one person must go down.

I agree, with the reduced importation of oil product we should expect more appreciation

The way naira is appreciating is surprising, are we now to hoard or sell our USD. What could be the course of this appreciation

PPR Received today
Application Date: May 11
Biometrics: I already have biometrics
PPR Date: 21 October 2024
Children dependent visa still showing processing and i don't know when they will make decision on them as mine is already approved. If you have any experience on this your clarification will be welcome. Thanks to everyone here.

Previous US and South Africa Visa

House please i have a US visa but i want to apply for my two kids who are under 14 years old. How will i go about it since they are minors.

affoncad:
[i]According to ircc Visa application centres will screen all applications for CAN+ eligibility. Applications that show that the applicant travelled to Canada in the last 10 years or holds a valid U.S. non-immigrant visa will be sent to the visa office for expedited processing.[/i]

So Send a webform saying you qualify for can+ and reattach copy of the usa visa.

Many thanks for the feedback, i have read the conditions. Although i joined my 2 kids in the application who do not have US visa. I will to be sure if that was the reason why i am on the general que before sending the web form. Do you have an idea about this. Many thanks for your reply, i really appreciate.

I applied in May but yet to hear from IRCC and I have a US visa

ARM pensions should be careful of false allegations. I have been alleged falsely before and I was vindicated after investigation. Women can b evil

Hunnn

Take the train

Don't click any link u see here on any group, 419 link plenty ooo

Right step in the right direction

Nigeria’s central bank announced limits on how much banks can hold in foreign currencies on Wednesday and expressed concern about the growth of forex exposures on their balance sheets after the local currency tumbled against the U.S. dollar.

Nigeria’s currency fell to a record low on the official market on Tuesday, slipping below the unofficial parallel market rate, after market regulator FMDQ Exchange changed its closing rate calculation methodology for the naira.

Its dollar-denominated sovereign bonds also suffered sharp falls.

According to a Reuters report the central bank has introduced a limit on lenders’ net open positions of 20% of shareholders’ funds for short positions and a zero limit for long positions and ordered banks to harmonise reporting, the monetary authority said in a circular on Wednesday.

In the past, lenders were not allowed to have open positions on the dollar, meaning they could not buy foreign exchange on their own account from the market or speculate on the value of the currency.

It asked them to bring their exposures within the set limits immediately, meaning that banks would have to sell down or face sanctions including suspension from the currency market.

Before Nigeria’s currency woes, lenders could use their open net positions on foreign currency to finance short-term trade lines without resorting to the central bank for bidding.

That effectively let banks “make the market” for dollars and provide two-way quotes for buying and selling the currency, creating a fully functioning forex market.

The central bank said lenders will be required to have liquid foreign assets to cover maturing foreign currency obligations and asked banks to also have a foreign exchange contingency funding arrangement with other institutions.

https://businessday.ng/business-economy/article/nigerias-central-bank-caps-amount-banks-can-hold-in-fx-as-naira-rout-worsens/

The CBN Governor should resign. He is lacks the tenacity to be on that sit.

False Allegation is real

gidgiddy:
These people are funny. Was the TB Joshua documentary about if Ajoke Joshua is his biological child or not? It was about if TB Joshua sexually abused women

In the Video above, TB Joshua openly said that he adopted Ajoke as a baby and she has lived in house ever since. In the very least, she is his adoptive daughter since birth

Now these people are trying to divert from the substance of the matter, which is TB Joshua's alleged sexual molestation of women, to discuss if Ajoke was his biological daughter

A girl you adopted as baby, gave your surname, raised in your household, what can that girl be except your daughter?

Please ooo is it TB Joshua that made the school wrote that she stole money. A confirmed thief will always be a lier.If I don't want to believe TB Joshua on anything but on this Ajoke own I am convinced she intentionally wants to use the BBC platform to paint the man black to cover her secret

The CBN will soon issue a regulation on FX, please don't buy and keep again ooo. Keep safe and watch. If u have plenty just sell

Omihanifa:
Everyone knew TB joshua was using marine powers, and one thing about marine kingdom is that if you are dedicated in worshipping them and you follow their instructions one will be very rich and powerful. But ke me say one thing there's no power as great as that of Jesus christ.

U too dey watch Nigeria home video.

Dollar will start crashing, I pity hoarders. Expect N800 to $1

The Federal Government on Friday received a $2.25b foreign exchange support facility from the African Import-Export Bank.

The Minister of Finance, Wale Edun, confirmed this to Arise TV, said it is the first tranche of the $3.3bn facility from the bank. He noted that the loan was aimed at resolving the acute FX shortage that has hampered the economy.

According to the report monitored by our correspondent, the balance of $1.05bn will be received in the first week of January.

Edun stated that work has commenced for solutions to Nigeria’s economic challenges.

In August, the Nigerian National Petroleum Company Limited announced that it had secured a $3bn emergency loan from the Afrexim Bank to stabilise the country’s volatile foreign exchange market.

https://punchng.com/fg-receives-2-25bn-afrexim-bank-loan/

Morning walk and exercise

800N to 1$ in sabo Ibadan. I pity horders

SpatialKing:
Exactly

Oguta and Ohaji/Egbama combined in Imo have the largest natural gas deposit in Africa...

The fear of Igbo advancing and getting wealthy has stopped them from Constructing LNG plant in Imo State...

Who are the them that should come and construct LNG for the SE.So u mean all of u shouting LP and ur simon Ekpa can not for a company to build LNG plant abi. In d SW we have Odua Investment what do u have on the SE.

For those hording dollar, their eye go vlear

970 in my area now. People are even scared to buy

Naira furthered its gaining streak against the Dollar on Thursday as the parallel segment of the foreign exchange (FX) market continues to react to the $3 billion crude oil repayment loan secured by the Nigerian National Petroleum Company Limited (NNPCL) from Africa Import and Export Bank (AFREXIM) to stabilise the local currency.

Parallel market FX dealers were as at 9.52am on Thursday August 17 seen buying dollar at N835 while selling at N860, according to data by AbokiFX, an online platform that tracks the exchange rate on the parallel market.


Before the news of the AFREXIM loan deal broke on Wednesday, parallel market FX dealers were buying the green back at N880 while selling at N910.

Otega Ogra, senior special assistant to President Bola Tinubu on Digital/New Media explained in a tweet what the $3billion Emergency Crude Repayment Loan from Afrexim is meant to achieve.

“What’s the benefit of this loan to Nigeria? The loan will assist NNPC Limited in settling taxes and royalties in advance. It will also equip the Federal Government with the necessary dollar liquidity to stabilise the Naira, with limited risk,” he said.

“Will this affect fuel prices? A strengthened Naira as a result of this initiative will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted,” Ogra added.

Read also: Tinubu reverts to defending Naira with NNPC’s $3bn AFREXIM loan deal

“What about subsidies? Are they coming back? No. A stronger Naira will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged,” the President’s aide said.

In their recent commentary, Damilare Ojo-led team of research analysts at Lagos-based Meristem said, “In our view, core inflation will remain elevated in the near term in light of the continued free-fall of the Naira. The outlook of the FX market is largely marked by uncertainty and volatility; as such, there is an urgent need for a unified strategy to address these challenges, involving enhancing FX liquidity, promoting export diversity, and fostering investors’ confidence through transparent policies.”

The National Bureau of Statistics (NBS) reported the headline inflation rate for July 2023 to have increased by 129 basis points (bps) to 24.08percent year-on-year (YoY) from 22.79percent YoY in June 2023.


The Meristem analysts noted that the July data also reflects the effect of the petroleum subsidy removal in May and the resultant increase in prices of human and merchandise transportation in the subsequent months.

Before receiving firepower from Afrexim Bank in Cairo to help fight speculators that have ambushed the FX market, the gap between official and the parallel market had widened by about N200 in the past week. It had reached N950/$ at the parallel market before this recent drop.

Tunde Delu, an economist explained that the loan is an attempt to bridge the FX supply gap.

“It is apparent that the short-term panacea/solution to the rising foreign exchange prices is to seek alternative supply avenues. One of the options open to the federal government is to seek such foreign loans directly or through its appointed agencies. The implication would be a positive effect on the supply of FX thereby pushing the price of FX down as the demand-supply gap shrinks,” Delu said.

“To simplify it in the nutshell, we need ‘quick cash’ to cover the demand for forex by all sectors and that has been sourced via the $3billion Crude oil Repayment Loan which enables NNPCL meet its payment obligations,” he added.

Omotayo Akorede Samuel, corporate finance lawyer said that the $3billion Emergency Crude Repayment Loan from Afrexim is standard practice.

“This is standard practice in the Oil and Gas industry Crude oil repayment financing has several benefits for oil companies.”

He said one of the primary benefits is that it allows companies to repay their debts without having to use their cash reserves.

“This can be particularly beneficial for companies that are experiencing financial difficulties or FX issues like Nigeria. Rather than go to the CBN for FX, this $3billion dollar will be used!

“Another benefit of crude oil repayment financing is that the repayment is tied to Crude Oil. Which means that the company can use its cash reserves for other purposes, such as investing in new projects. ‘Crude oil no Dey finish!!!’ You can pay your loan off in 6 months if you want,” Samuel said.

https://businessday.ng/markets/currency-watch/article/naira-gains-further-trades-at-860-on-parallel-market/