₦airaland Forum

Boko Haram terrorists have demanded a ransom of $500,000 for the release of the wife, police orderly, and driver of Justice Haruna Mshelia, a High Court judge in Borno State.

A family source told Daily Trust that the terrorists rejected an initial offer of $50,000, insisting on the full $500,000 before releasing the remaining captives.

Justice Mshelia was abducted on June 24, 2024, along with his wife, Binta Othman-a magistrate at Wulari Court in Maiduguri-his orderly, and his driver.

The terrorists released Justice Mshelia on September 8 after a substantial ransom was paid, but only on the condition that he raises an additional $500,000 for his family’s release.

“We learned that the family managed to raise almost $50,000, but the insurgents turned down the offer, insisting on the full $500,000,” a source said.

When contacted for an update on the abducted police orderly, the Borno State Police Public Relations Officer, ASP Nahum Daso, requested more time to consult before making a statement.

Efforts to reach Justice Haruna Mshelia for comments were unsuccessful, as his phone remained unreachable.

Meanwhile, the Dean of the Technology Department at the Nigerian Army University Biu (NAUB), Professor Abubakar Eljuma, remains in captivity.

Sources from the university revealed that the suspected Boko Haram terrorists who abducted him have yet to contact either the university or his family regarding his fate.

Meanwhile, suspected Boko Haram terrorists on Wednesday attacked a police station and partially destroyed an Armoured Personnel Carrier (APC), in Malari, Konduga LGA of Borno State.

The Police Public Relations Officer, Borno State Command, ASP Nahum Daso, confirmed the incident saying the attackers met superior firepower and escaped with gunshot wounds.

He, however, said the terrorists only deflated the tyres of the police Armoured Personnel Carrier (APC) in an attempt to cause damage on vehicles and infrastructure in the vicinity.

The Nigerian government has confirmed its plan to settle a fuel subsidy debt of N7.74trillion owed to the Nigerian National Petroleum Company Limited (NNPCL).

The debt, which accumulated as an exchange rate differential for the importation of Premium Motor Spirit (PMS), spans from June 2023 to September 2024, when the country fully implemented the deregulation of the downstream oil sector.

The figure was disclosed in a document presented by the NNPCL to the Federation Account Allocation Committee (FAAC) during its February meeting in Abuja, PUNCH reports.

The government has outlined a plan to clear the outstanding subsidy within 210 days, according to the document obtained by our correspondent.

The report revealed that the subsidy debt initially stood at N10.499 trillion, but N2.756 trillion was recovered between November 2023 and September 2024, bringing the balance to N7.74 trillion.

A month-by-month breakdown showed how the debt steadily increased: June 2023 – N1.402 trillion; July 2023 – N1.48 trillion; October 2023 – N1.81 trillion; March 2024 – N4.68 trillion; June 2024 – N6.97 trillion, and September 2024 – N7.74 trillion.

The subsidy amount represents 14.07% of Nigeria’s N54.99 trillion 2025 national budget.

In August 2024, it was reported that the NNPCL requested a refund of N4.71 trillion from the government for petrol imports.

At the time, this was listed under “Exchange rate differential on PMS and other joint venture taxes.”

Exchange rate differentials occur when there is a change in the value of a currency over time, affecting the cost of transactions.

In this case, the government covered the difference between the official exchange rate and the actual cost incurred by NNPCL in importing petrol.

Despite President Bola Tinubu’s declaration in May 2023 that the fuel subsidy had been removed, reports from the International Monetary Fund (IMF) and World Bank suggest that the subsidy was quietly reintroduced through price stabilization measures

Energy expert Wumi Iledare questioned the rationale behind the government reimbursing NNPCL, given that the company sells crude oil in foreign currency on the government’s behalf.

“If NNPCL sells oil on behalf of the government and gives it the dollar revenue, why should the government pay back any money? NNPCL should be remitting funds like other oil companies,” Iledare argued.

Furthermore, members of the FAAC committee have raised concerns about inconsistencies in NNPCL’s revenue reporting.

Ogun State Accountant-General, Tunde Aregbesola, noted a significant drop in revenue remitted by NNPCL compared to previous months, citing an outstanding balance of N10.8 trillion in receivables.

FAAC Chairperson Oluwatoyin Madein assured that an alignment committee is currently reviewing the figures to ensure proper reconciliation.

The government has committed to settling the N7.74 trillion debt within 210 days, but concerns remain over Nigeria’s ability to sustain its current economic policies without further subsidy-related liabilities.

With rising inflation and fluctuating foreign exchange rates, economic experts warn that the government must implement more sustainable measures to prevent a recurrence of subsidy debt accumulation in the future.

The US dollar continues to cede ground to the naira following positive market performance and Central Bank of Nigeria (CBN’s) reforms impact on the economy. Naira rebound has heightened currency risks for Nigerians storing wealth in dollars expecting sustained naira slide. Naira made whooping N145 gain in February prompting analysts’ warning to dollar savers to offload their holdings to avert further losses.

For long, dollar dominance has constituted major challenge for emerging markets and import-dependent economies like Nigeria where higher greenback valuation hinders macroeconomic indicators.

But after series of reforms instituted by the Central Bank of Nigeria (CBN) to prop up the naira and reduce dependence on the dollar, the local currency is finding its lost voice in the exchange rate market.

For instance, the naira recorded major comeback in February, positing one of its biggest wins in recent months.

The local currency, which opened February at N1,640 to dollar at the parallel market closed the month stronger at N1,495 to dollar, representing N145 gain. At the official market, the naira closed at N1,492 from N1,620 it started the month of February on.

Michael Nwadike, FX Analyst said dollar savers are losing in current naira rally and will record more losses as the greenback holders dump it in open market.

He said that the search for better returns on investment is universal but investors should equally consider risks associated with such investments.

According to him, investors looking to diversify their portfolio and protect their wealth against the repeated depreciation of the naira through investment in dollar-denominated assets should have a rethink in the face of ongoing naira rally.

Nwadike however, advised authorities to embrace more pro-market paths to encourage foreigners to take on more naira risks.

“There should also policies that will attract longer-term capital as opposed to fleeting hot monies. The promulgation and implementation of appropriate reforms, improvements in ease of doing business, provision of adequate infrastructure, and tilt to a more liberal currency regime are some measures that could be adopted,” he said.

According to him, the era of forex distortions in the domestic foreign exchange market came to an end after the Central Bank of Nigeria (CBN)-backed Electronic Foreign Exchange Matching System (EFEMS) began operations.

The implementation of the FX policy, came with diverse implications for all segments of the financial markets that deal on forex, including rebound in the value of the naira across markets.

“A stabilizing naira is good for everyone stabilizing at both the official markets, but sad over capital loses. This is not the time to hoard dollar because naira is fast finding its feet,” Olakunle Amos, FX trader based in Mushin Lagos.

A retired CBN Director, Prof. Jonathan Aremu, described the currency’s steady appreciation against the Dollar as a positive development.

Aremu, a Professor of International Economic Relations at Covenant University, is also a Regional Expert on Trade and Investment for ECOWAS.

Aremu called for increased production to sustain the Naira’s gains.

He urged the CBN to focus on boosting productive activity in the economy to maintain stability.

According to him, the apex bank should look beyond interest rates and consider other factors influencing production and liquidity.

“The quantity theory of money states that money supply and population value must equal price and transaction volume in the economy. If policy only targets money supply without increasing transactions, the expected appreciation of the Naira will not materialise. The economy needs a higher volume of goods and services. Many goods are available, but their prices depend on supply and demand,” he said.

President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said he believed the apex bank remained committed to resolving the foreign exchange issues confronting the nation and as such has been working to manage both the demand and supply side challenges.

While admitting that there was huge demand pressure for foreign exchange to meet the needs of manufacturers as well as those for the payment of tuition, medical fees and other invisibles, he added that the monetary authority was strategizing to help Nigeria earn more stable and sustainable inflows of foreign exchange in the face of dwindling inflows from the oil sector.

Specifically, he noted that recent initiatives undertaken by the Bank such as the FX code policy, Electronic Foreign Exchange Matching System (EFEMS), had helped to increase foreign exchange inflow to the country.

On his part, CBN Governor, Olayemi Cardoso described EFEMS as one of the many gains of the exchange rate unification policy, expected to birth several other gains in the market operation.

He said the policy will not only put forex market distortions under check, eliminate speculative activities and instill transparency, but will also make it difficult for abuse in the market to persist.

Cardoso said an enabling policy environment has led to a doubling of monthly remittances from an average of $300 million in 2023 to nearly $600 million in August 2024.

“We are committed to further integrating the Nigerian diaspora into our financial system, exemplified by the introduction of the non-resident Bank Verification Number registration. We expect our financial institutions to develop products that not only enable the diaspora to support their families but also provide opportunities for savings and investment in Nigeria,” Cardoso said.

Cardoso said the current exchange rate for the naira does not reflect the true value of the local currency.

He said the current US dollar exchange rate reflects the price that the most desperate buyers are willing to pay, and this, in the apex bank’s view, does not represent the true market value of the naira.

The CBN boss said the apex bank expects that the introduction of the electronic marketing system will correct these distortions by enhancing price discovery process for the naira.

Additionally, he stated that the move will significantly boost the central bank’s oversight and integration capabilities, ensuring a more stable and transparent foreign exchange market.

Cardoso also said that an FX market defined solely by when and how the central bank buys or sells dollars is inadequate for the needs of a dynamic economy like Nigerians.

“Now is the time for banks to step up to their intermediation and market making responsibilities providing customers with the right solutions to run their businesses and manage risk effectively, ” he said.

Inflation decline raises hope on naira
The Comercio Partners, in its 2025 macroeconomic outlook, highlighted that the rebasing of Nigeria’s Consumer Price Index (CPI) to 2024 would also create statistical effects that could lower inflation figures.

Expectedly, Nigeria’s annual inflation rate dropped to 24.48 per cent in January, the National Bureau of Statistics (NBS) showed. The figure is well down from the previous month’s figure after the Nigeria’s Consumer Price Index (CPI) was rebased for the first time in more than a decade.

From the stabilisation of exchange rates, the normalisation of energy prices following the subsidy removal to improved liquidity in the forex market, the economy has what it takes to achieve price stability within the year.

The Comercio Partners reports, emphasised the importance of local refining capacity expansion, particularly with the launch of the Dangote Refinery. This development is expected to reduce the impact of exchange rate fluctuations on energy prices. By relying more on domestically refined petroleum, Nigeria is likely to see a reduction in energy price volatility.

This, combined with a more stable exchange rate, is expected to lower production and transportation costs, creating a positive ripple effect throughout the broader economy.

According to Ifeanyi Ubah, head of investment research and global macro strategist, “We expect headline inflation to decrease to around 15 percent in the first half of 2025, indicating a gradual return to economic stability.”

The report also emphasised the importance of local refining capacity expansion, particularly with the launch of the Dangote Refinery. This development is expected to reduce the impact of exchange rate fluctuations on energy prices. By relying more on domestically refined petroleum, Nigeria is likely to see a reduction in energy price volatility. This, combined with a more stable exchange rate, is expected to lower production and transportation costs, creating a positive ripple effect throughout the broader economy.

The need to tame inflation and sustain exchange rate stability also formed part of the key parameters that determined Monetary Policy Committee (MPC) decision to keep rates unchanged at its 299th meeting held last week in Abuja.

Accordingly, the Committee voted to hold the MPR constant at 27.50 per cent and retain all other parameters – Cash Reserve Requirement (CRR) for Deposit Money Banks (DMBs) and Merchants Banks at 50 per cent and 16 per cent, respectively; the asymmetric corridor around the MPR at +500bps/-100bps and the liquidity ratio at 30 per cent

IMF position on dollarisation

According to the International Monetary Fund (IMF) report, market participants defend their wealth by shifting to dollar savings under high and persistent inflation.

The Fund said the process of reversing citizens savings in dollars could be complex even after addressing the initial trigger, such as high inflation and exchange rate volatility.

The Fund said most economies operate with a foreign exchange (FX) – the dollar bias for international trade and finance invoicing.

“The optimal choice between domestic currency versus dollars will depend on the monetary framework and the benefits that each may offer as they co-exist as two currencies,” it said.

The IMF explained that in a highly dollarised economy, there is extended use of the exchange rate for price indexation (high real dollarisation and almost complete pass-through from depreciation to inflation). Forex is also used in foreign trade.

It said: “There is limited scope for fiat currency (tax payments, public expenditure, non- durable goods, and low- value transactions; extended forex use for durable goods, real estate, capital goods, and high-value transactions. Also, forex takes over the role of store of value as lending capacity in domestic currency becomes limited. Most loans become forex- denominated when forex bank deposits are allowed.”

Dollar holdings by central banks
Recent data from the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) point to an ongoing gradual decline in the dollar’s share of allocated foreign reserves of central banks and governments.

Strikingly, the reduced role of the US dollar over the last two decades has not been matched by increases in the shares of the other “big four” currencies—the euro, yen, and pound.

Rather, it has been accompanied by a rise in the share of what we have called nontraditional reserve currencies, including the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and the Nordic currencies.

One nontraditional reserve currency gaining market share is the Chinese renminbi, whose gains match a quarter of the decline in the dollar’s share.

The Chinese government has been advancing policies on multiple fronts to promote renminbi internationalization, including the development of a cross-border payment system, the extension of swap lines, and piloting a central bank digital currency. It is thus interesting to note that renminbi internationalization, at least as measured by the currency’s reserve share, shows signs of stalling out.

DMerciful:
You're deflecting from the main story.

Putindbutt:
Ogododo, tressun, I said keep quiet, shameless man from Kwara claiming Lagos.

Putindbutt:
Nawa , you used treesun to open a thread,used ogododo to call the Mod to push it to fp and then used Iwaeda to make a comment 🤣🤣🤣😂

Residents of Jibia Local Government Area in Katsina State have reached a peace agreement with armed bandits in a bid to end years of violence and insecurity in the region.

As part of the reconciliation, the bandits handed over two AK-47 rifles and admitted to abducting 10 people from Daddara town, who have now been freed and taken to the General Hospital in Jibia for medical attention.

The peace meeting, held on Friday, February 28, 2025, at Kwari village, was facilitated by the Jibia People’s Forum under the leadership of Alhaji Gide Dahiru.

A security analyst and counter-insurgency expert in the Lake Chad area, Zagazola Makama disclosed the development on Monday via his X handle.

He explained that community leaders, including the Chairman of the Jibia Business Association, Alhaji Sama’ila Mai Maasara, and elder statesman Alhaji Haruna Sada Zare, attended the reconciliation talks.

According to the report, Sheikh Barrister Ibrahim Sabi’u, a former secretary of the Islamic Justice Commission and a judge at the Katsina State Court of Reconciliation, emphasised that the negotiations were conducted under Islamic law to ensure lasting peace.

According to Hikaya Newspaper, notorious bandit leaders Audu Lankai and Tukur Nigerian were among those engaged in the peace process.

However, as part of the agreement, residents demanded an immediate cessation of attacks on Jibia town and its surrounding communities, protection for farmers, and an end to cattle rustling.

Meanwhile, the bandits, in turn, pledged to respect government laws and cease cattle rustling and other criminal activities.

Zagazola added that Alhaji Babangida Bracket, a resident of Daddara, confirmed the release of the abducted victims, marking a potential turning point in efforts to restore security in Katsina State.

Recently, former Military President Ibrahim Badamasi Babangida (IBB) admitted that the late Basorun Moshood Kashimawo Olawale (MKO) Abiola won the June 12, 1993 presidential election.

The June 12 election has been a heated topic with different accounts of the events narrated by different parties.


However, in his autobiography: “A Journey in Service,” which was launched in Abuja, the former President said he was convinced that Abiola won.

This is according to Prof Yemi Osinbajo, Nigeria’s immediate past Vice President, who reviewed the book.


“He also answers the question whether Abiola actually won the June 12 election, and I quote him, ‘although I am on record to have stated after the election that Abiola may not have won the election, upon deeper reflection and a closer examination of all available facts, particularly the detailed election results, which are published as an appendix to this book, there was no doubt that MKO Abiola won the June 12 elections,” Osinbajo said.

In a statement, Kola Abiola on behalf of the family of late MKO Abiola, said the memoir reopened painful memories of the tragic events of the annulled election.

The Abiola family insisted that the lessons from the annulled June 12 election have not been learnt.

Abiola expressed the family’s disbelief at how long it took Babangida to publicly acknowledge what the world already knew.

“It took the former military President, General Ibrahim Babangida, an incredibly long 32 years to confirm what the whole world knew all along—that Bashorun MKO Abiola won the 1993 presidential election,” Kola said.

Abiola noted that the June 12 election’s significance extended beyond just his family, stressing that many other families were directly impacted by the annulment, and numerous lives were lost in its aftermath.

“There were so many other families directly affected and lives lost as a result of the annulment, not to mention the profound impact on the unity and economic development of our great country, Nigeria, to date,” he said.

Former Jigawa State governor, Sule Lamido, in this interview, likened the All Progressives Congress, APC, leadership to Pharaoh’s. Lamido, who lamented that the APC has weaponized poverty against citizens, said hunger was now walking on the country’s streets on two feet. Excerpts;

Can you speak about the crisis the Peoples Democratic Party, PDP, has been facing for a number of years. What has been done to strengthen the party, reconcile aggrieved members and re-strategise for 2027?

I am really alarmed by your curiosity about PDP and your interest in the party. I was in Ilorin yesterday, and I had the same question from a journalist. I said, look, the PDP story is well-known by all Nigerians. What has transpired in the last two years is well-known. I think Nigerians know more than enough for them to be able to give us the peace to sit down, look at them internally and see how we can get the party properly reconciled. We have said so much about the party, there is so much noise, vilifying one another and I think it has now become a big monotony for Nigerians to be talking about the PDP crisis all over. Give us time now. We are now working very hard. We are reaching out to our various stakeholders, and please give us the time to reconcile ourselves. So much for the entertainment, so much for the controversy, so much for all the noise about PDP. I think it has been a big entertainment to Nigeria, a big entertainment about our crisis. Let us now at least sit back and see how we can really reach out to one another, reconcile and forgive one another and then give Nigeria a party that will lead it into security, prosperity and international reconciliation.

What would you say that the PDP needs to do in order to regain the trust of individuals who are not part of political parties, who do not have the cushioning of life as the political elite?

I don’t know. You see, the duty to hold the Nigerian government to account is that of all Nigerians, not only for the political party called PDP. It is true we are in opposition, it should be the main champion of the opposition, but then the Nigerian people have the power, the authority and the right to also hold the government to account. It is a collective thing for all Nigerians in the political parties. When you say PDP, I mean it is a very lazy argument because what are Nigerians doing? We can only be effective if Nigerians believe and trust us. In any case, we are coming from a background where we are a very powerful political party, we have been in power for some number of years and we are vilified, we are maligned, we are accused of a number of things. Why this study into our PDP and then playing a role which all Nigerian people play? So to me, the government of today is the Nigerian government, it is for all Nigerians and therefore should be able to collectively hold the government accountable. That is all. So when you place the role on PDP alone, the very party which Nigeria denied in the last eight years, it sounds a little bit unfair. It is an unfair expectation because people never believed in the PDP in the last eight years. They are simply talking about PDP because of the consequences of the choice they made in the last eight years.

Now, some analysts are of the opinion that Nigeria and Nigerians face a lose-lose situation in 2027, as it does seem like all the political parties, including the ruling party and even the PDP, seem to be lacking in ideology. It does seem like all political parties are only interested in grabbing power without any vision or idea on how to actually move the nation forward. Can you react to this?

Apparently, you are trying to provoke me. When you say PDP has no ideology, then why do you bother to ask me about our role if we have no ideology? You see, I think we should be able to look at this in a more honest way. The country called Nigeria is a big leader in Africa and also in the world. Therefore, the role we play or do not play has serious consequences on our sovereignty and to the world in general. When you say we have no ideology, then why are you asking me if we have no ideology? If we lack ideology, then why are you asking me?

I’m asking you to react to what some critics are saying…

No, you are trying to provoke me into a debate which is simply unnecessary. Simple. The PDP has got a very clear history, which you all know, in the last 25 years. You know what Nigeria was in 1998, what Nigeria went through after the annulment. Therefore, the efforts of the PDP to bring Nigeria back to sanity, to unity, based on the consequences of the military rule we had. The PDP worked very hard and in 16 years, we were able to restore Nigeria, get Nigeria thoroughly reconciled and stabilised to the point that people were able to regain their vision, maybe, their conscience and their rights. Then they said, look, thank you PDP for what you have done. Now we don’t want you. We don’t need you because you are this and that. I mean, everything has been done today simply because PDP was the foundation of Nigerian stability. But then Nigeria said they didn’t like us. Now they have found out about the APC. Give us the chance, support and political peace to really look at Nigeria and then get the party properly reconciled and then work towards promoting a greater Nigeria of peace and stability and security. That is the thing, that is the way we’re trying to play now.

What special purpose vehicle can you foresee the North aligning with: Atiku Abubakar, Peter Obi, Nasir El-Rufai, Rotimi Amaechi, Senator Aminu Tambuwal and former President Goodluck Jonathan. Do any of these names jump at you as being likely candidates to do the job?

When you mention names also reflect into history. You see, what role have they played in bringing Nigeria together today? All of those you mentioned, the Ameechis, the Atikus, the Tambuwals, what was their role in 2014 in bringing the current APC government into power? These people you are talking about as key players, the El-Rufais, know their role. They are simply now coming to say we have done wrong. They are trying to regroup to talk to who? To me or to other Nigerians? What are they telling us? They are actually the entire problem. What are they telling us now? All of them, all the people you mentioned were all in PDP from 1998 to 2014. They are all PDP inventions, PDP creations. The people who are honoured, who are dignified, who are celebrated were invented by the PDP. PDP made them. But then they turned around and destroyed the PDP. Now, if they are coming around to talk about PDP, I have difficulty because I am coming from the old order where the issue of morality is very important to us.

I feel taken aback by some of their actions. But you know, this is what we are as leaders. I mean, picking and choosing what we want to do, what we think is best for our interest.

What is your opinion on the state of the nation?

Well, the government is making wide claims about security, economy and what have you, and the efforts in getting Nigeria secure and economically stable. The government should not be pontificating. Go to Zamfara. Go to Kebbi. Go to parts of Sokoto. Go to parts of Kaduna and ask people, are you safe? Do you feel secure? That is how you get the right answer from the people. Not somebody staying in Abuja and talking about Nigeria being very secure or safe. Second, on the economy, go to the market. Ask the ordinary bus driver, the ordinary folks roaming around the street. Ask them, are you happy with the money in your pocket? Is it able to give you what you think is adequate for your needs or not? To me, that is the parameter of testing either the security or the economy of the country. It is not about me or you, people like you, people like me, you know, who should be talking for Nigeria. Go to ordinary folks. Talk to them. Do you feel safe? Do you feel secure? Are you happy with the government? And answers will be given. They should drive down, they will see poverty walking on its own two feet. You see it. You can see insecurity. Last week, somebody called Turji puts a levy of how many million on some villages in Zambara, only last week. So when you say security and the economy and the government, to me, it is all part of the deception of leadership in government.

What more can ordinary Nigerian citizens do to demand and get good governance from the current crop of leaders that we have?

You see, the APC government has made poverty a weapon. Poverty has been weaponized. And therefore, when you don’t have the basic needs, when you are very poor, when you are hungry, you become very unstable. And so they have been able to create a situation whereby Nigeria will rely on what they call handouts or palliatives. The purpose of government is to create the kind of environment for Nigerians to be able to stand up and work and earn a living. But when you bring Nigeria into that kind of poverty and they rely on you for handouts, they have taken away their dignity, their self-esteem and even their capacity to be human beings again.

To me, the way forward is for government to be humane, to have human empathy, to also respect people and believe in their dignity, not by getting them subordinated and therefore feeling obliged for their support, which is their own right. Doing otherwise is simply creating an environment whereby I will feel obliged to feel maybe subordinated or to feel, you know, happy that the government is working for me. You don’t induce a problem and say this is the cure and ask me to thank you. You don’t do that. Government has been able to induce, you know, poverty and difficulty and it is not great for Nigerians. Because, you know, they have lost their self-esteem, their dignity, and their honour. And therefore, they now look to the government for succour and solace, which is very wrong.

I think the first thing the Nigerian people who are not very hungry should do is to resist this issue of handout during the election. You get noodles for your own vote because you are very poor. Now, make some sacrifice. Stand up for your rights. Stand up for yourself, for your dignity and your human essence. Second, the process should be able to also say we respect you as a Nigerian. Therefore, we believe in your dignity. We believe you have rights, you know. We should not manipulate or exploit you. It is something collective, you know. All of us must have that kind of human empathy, human feeling and human respect for one another. So that we will be able to create a very clean environment where issues can be properly addressed without any encumbrance from hunger or poverty.

For now, the Nigerian poor are burdened by poverty, hunger and they cannot see very clearly. And when you have no focus, when your vision is impaired by this kind of problem, you don’t see very clearly. My worry is in 2027, what do we do to restore that culture of integrity, of sanity, and sincerity? So, you know, we look at the Nigerian situation and see how to save Nigeria? But by the way people are now being manipulated. The way they give out N50,000 monthly to people, I mean, you have taken away people’s sense of honour and dignity, and that is a big problem. It’s a very difficult thing to work under an environment where the leadership is so Pharaonic. The current leadership is very Pharaonic. It has no human empathy. It is arrogant. It is patronising. It is condescending. To them, government is owned by them, we are now a government of the oligarchs like America. What we see in Nigeria is a government of the oligarchs. How we restore power to the people is now a problem because the oligarchs are now in charge.

oz4real83:
when the same allegation is from different individuals, there must be some truth in the allegation, we can't quickly forget the NDDC woman.

ABUJA – Former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has called on President Bola Tinubu and the Senate to take seriously the allegations of sexual harassment, intimidation, and mistreatment leveled against Senate President Godswill Akpabio by Senator Natasha Akpoti-Uduaghan (Kogi Central).

In a statement on Friday, Atiku expressed deep concern, stating that such allegations are grave and should not be dismissed without a thorough, impartial, and transparent investigation.

“The Nigerian Senate represents the voice of the people. Those who serve in it—especially its leadership—must uphold the highest standards of integrity, dignity, and respect for the offices they hold and for the citizens they serve,” he said.

He emphasized that as the third most powerful figure in the country, the Senate President should embody unimpeachable character, adding that sexual harassment in the workplace is a major barrier to women’s advancement and, by extension, national progress.

“At a time when only four women serve in the Senate, it is imperative to foster an environment where female legislators can work without fear of harassment or intimidation,” Atiku stated.

He urged President Tinubu and the Senate leadership to ensure a credible and independent investigation, stressing that the outcome of this matter will send a strong message about Nigeria’s commitment to justice, accountability, and gender inclusion in governance.

“This moment demands careful and principled action to uphold the integrity of our institutions and ensure that every Nigerian, regardless of gender, is treated with dignity and respect,” he added.

Senator Natasha Akpoti-Uduaghan had earlier alleged that she faced harassment and intimidation in the Senate after rejecting Senate President Akpabio’s advances. The allegations have since sparked widespread reactions, with calls for a formal investigation.

The ousted speaker of the Lagos State House of Assembly, Mudashiru Obasa, has claimed that the speaker of the House, Mojisola Meranda, had stepped down as the parliament leader.

Obasa stated this on Thursday during an interview with Channels Television’s programme, Politics Today.

The embattled lawmaker said Meranda resigned at the peace meeting held at the Lagos House in Marina last weekend.

He stated, “At the meeting held in Marian, which saw the attendance of all party leaders, it was made clear, with hopes that all members were present, that Meranda herself declared her resignation. She made it known that she has stepped down.

“Now, when someone resigns from office, the associated paraphernalia is taken away. So, the question arises: Have you also resigned? Because we understand that part of the arrangement is for you to step down as well. Let them present the resignation letter. And if I were to resign, would I still be here? I’m sure you’d still address me as Speaker, even though we’ve never had a conversation before.”

In a surprising development, all police escorts assigned to the Speaker of the Lagos State House of Assembly, Rt. Hon. Mojisola Meranda, as well as those securing the Assembly complex, have been withdrawn with immediate effect, leaving both the Speaker and the legislative building vulnerable.

Confirming the situation, the Speaker’s Special Adviser on Information, Mr. Victor Ganzallo, expressed deep concern over the abrupt withdrawal of security personnel.

“As we speak, all security has been withdrawn from the Speaker, and she is now on her own,” Ganzallo stated.

He warned that the Speaker is now “vulnerable and open to attack,” emphasizing the urgent need for a resolution to the security lapse.

The reason for the withdrawal remains unclear, and there has been no official statement from the Lagos State Police Command or the state government regarding the development.

This situation raises concerns about the safety of government officials and the security of the Lagos Assembly premises.

Leaders of the ruling All Progressives Congress (APC) have converged at the National Secretariat of the party for its National Executive Committee (NEC) meeting in the nation’s capital, Abuja.

All roads leading to the venue of the meeting on Blantyre Street were cordoned off by a combined team of armed security men including soldiers from the Guards Brigade.

Vehicular and human movements on Blantyre Street were also restricted just as journalists were kept outside despite the release of an accredited list of reporters on Wednesday morning by the party spokesman, Felix Morka.

Some early arrivals at the venue include all National Working Committee (NWC) members; Forum of State Chairmen; former governor of Zamfara State, Abdulaziz Yari; Minister of Budget and National Planning, Atiku Bagudu; and Deputy Speaker, Benjamin Kalu.

Governors of Edo, Benue, Ondo, Ekiti, Kaduna, Jigawa, Nasarawa, Yobe, Niger, Lagos, Kogi, Ogun, Imo, deputy governor of Ebonyi and former governors of Kogi, Kebbi, Niger, Zamfara, and Plateau were in attendance.

Conspicuously absent from the NEC meeting were former President Muhammadu Buhari; former Governor of Kaduna State, Nasir El-Rufai; and former Governor of Rivers State and ex-Minister of Transport, Rotimi Amaechi.

The leader of the party, President Bola Tinubu, Vice President Kashim Shetimma, Senate President Goodwill Akpabio, and Speaker Tajudeen Abbas arrived at the venue at noon. The meeting was presided over by APC National Chairman Abdullahi Ganduje.

The NEC meeting, the first since Tinubu’s assumption of office in May 2023, comes a day after the national caucus meeting of the party at the Presidential Villa also in Abuja.

Some APC chieftains including El-Rufai and an ex-National Vice Chairman of the party Salihu Lukman had complained about the lack of internal democracy in the ruling.

The Naira yesterday sustained its upward trend rising to its highest level in seven months in the parallel market, where it appreciated to N1,500 per dollar from N1,530 per dollar last weekend.


The last time the Naira traded below N1,500 per dollar in the parallel market was Friday June 21st last year when it traded at N1495 per dollar.


But the Naira depreciated to N1,504 per dollar in the Nigerian Foreign Exchange Market (NFEM).

Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,504 per dollar from N1,502.5 per dollar last weekend, indicating N1.5 depreciation for the naira.

Consequently, and for the first time in a long while, the parallel market exchange rate was lower than the official market exchange rate, while the gap between the two rates dropped to minus N4 per dollar from N27.5 per dollar last week Friday.

Also confirming this development, analysts at Cardinalstone Research the company’s forex market review yesterday, said: “The FMDQ FX rate depreciated by 0.17 per cent to N1,503.63 per dollar, while the parallel market rate appreciated by 0.67 per cent to settle at N1,500.00 per dollar.”

As a result of this development, the Naira has recorded 9.4 per cent and 2.2 per cent Year-to-Date, YtD, appreciation in the parallel and official market from N1655 per dollar and N1538.5 per dollar from the close of last year.

Currency traders who spoke to Vanguard attributed the continuous appreciation of the Naira to improved dollar supply amidst high demand.

Speaking to Vanguard, a currency dealer, Mr. Yinusa Sadiq said: “The Naira has been appreciating since last week following increased dollar supply even when customer demand remains high.

“You now have easy access to dollars from the banks and Bureau de Change. As people are selling and they also are buying. The dollar was traded today closing at N1510 to N1,500. I bought a dollar at N1,490 today. “

Mr. Rasaq Bello , a currency trader, projected the Naira will appreciate further and remain stable between N1,490 and N1,500 per dollar following continuous rise in dollar supply.


“If there is continuous increase in dollar supply, I see the foreign exchange rate stabilising between N1,490 per dollar and N1,500 per dollar this week.”

Similarly, in their foreign exchange outlook for this week, analysts at CowryAsset Management Limited expect the naira to trade at a stable pace against the dollar.

“This week, the naira is expected to trade within a relatively stable range, provided there are no significant market distortions.

“Market dynamics will continue to shape the supply and demand for the dollar, influencing the local currency’s performance across various exchange segments.”