The Central Bank of Nigeria, CBN, has slashed the exchange rate in the Bureaux De Change, BDC, segment of the forex market by 12 per cent or N152.23 to N1,117.5 per dollar even as it commenced another round of dollar sale to 1,588 eligible BDCs. The CBN announced the new rate in a circular on Monday saying it will sell $10,000 to each BDC at N1,101 per dollar, for eligible invisible transactions, directing that the BDCs should sell to eligible end-users at spread of not more than 1.5 percent. This means BDCs will sell to end users at maximum exchange…
Author: Ajibola Oluwasegun
In a surprising turn of events, Governor Godwin Obaseki of Edo State has nominated 38-year-old Omobayo Marvellous Godwins as the new Deputy Governor following the impeachment of Philip Shaibu by the state house of assembly. The nomination comes after a swift and decisive action by the governor in nominating a successor to fill the position. Omobayo Godwin, a relatively young figure in Edo State politics, is set to make history as the youngest Deputy Governor in the state’s history. With his inauguration slated to take place today at the Government House in Benin City, all eyes are on the newcomer…
The Edo State House of Assembly has impeached the embattled deputy governor, Comrade Philip Shaibu. The impeachment, today, Monday, followed the adoption of the report of the seven-man investigative panel set up by the Assembly to probe allegations of misconduct against Shaibu. The impeachment proceedings culminated in a dramatic vote that saw Shaibu ousted from his position. The proceedings were initiated earlier this week. Report has it that the seven-man panel investigating allegations of constitutional breaches against the Edo State Deputy Governor, Phillip Shaibu on Friday concluded it’s sitting without Shaibu or his counsel appearing. The panel forwarded its report…
On June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023, into law to enable indigent students to access interest-free loans for their educational pursuits in any public Nigerian tertiary institution. The Act, also known as the Students Loan Law, equally established the Nigerian Education Loan Fund, which is expected to handle all loan requests, grants, disbursement, and recovery. President Bola Ahmed Tinubu, on page 44 of his Renewed Hope manifesto, clearly stated that his administration will institute a students loan program following a similar model established by the Kaduna State government in 2018. In fulfilment of…
President Bola Tinubu few moments ago approved and signed the amendment bill for national student loans into law. In a short video clip, the president was seen surrounded by members of the national assembly and other top government functionaries as he appended his signature on the bill. …Details shortly
The presidential candidate of the labour party in the 2023 presidential election, Mr. Peter Obi have dissociated himself from the recently held national convention if the labour party. Yinusa Tanko, the chief spokesperson of the Obi-Datti campaign organization said the national chairman of the Labour Party, Julius Abure failed to heed to the advise of an all inclusive convention by the Peter Obi Tanko who stated that the current crisis rocking the Labour Party could have been averted if Abure had taken the advise of the former Anambra governor. Tanko further said the recently concluded national convention of the party…
The Oluwo of Iwo Kingdom Oba Abdulrasheed Akanbi (Telu 1) have chastised politicians, government officials and state governments who are fond of hoarding federal government palliatives provided by the President Bola Ahmed Tinubu administration. Speaking yesterday after distributing bags of rice to the aged and less privileged in his kingdom, the paramount ruler berated government officials and politicians for trying to frustrate the good intentions of the president. He stated that the government of Asiwaju heralded prosperity, abundance and a new hope for Nigerians. He noted that the reforms and measures introduced by the Federal Government would tackle economic challenges…
The Federal Government have expressed it’s readiness to install CCTV and Solar lights as part of security measures on the Third Maintain Bridge. The Minister of Works, David Umahi disclosed on Sunday in an interview on Channels TV that work have started to that effect. The bridge which has been under repairs for weeks is billed to be reopened to motorists and other road users in coming days. He said the repair work on the bridge and the installation of CCTV were targeted at combatting crime and illegal mining around the bridge. Umahi said, “When you talk about the total…
President Bola Ahmed Tinubu will on Tuesday April 2nd, 2024, attend the Inauguration of Bassirou Diomaye Faye, the President-Elect of Senegal. Tinubu according to a state house press release by his Special Adviser on Media and Publicity, Chief Ajuri Ngelale will depart Abuja for Dakar the capital of Senegal on Tuesday. According to Ajuri Ngelale, the President’s trip is at the invitation of the Republic of Senegal. According to the statement, “President Tinubu, who is the Chairman of ECOWAS Authority of Heads of State and Government, will join other regional leaders to witness the inauguration at Diamniadio Exhibition Centre on…
Today is President Bola Tinubu’s 72nd birthday. Instead of rolling out the drums to celebrate the day, the President directed there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour. He urged anyone wishing to do such for him to donate the money to charity organisations. The decision was taken in deference to the present challenging times. It is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain. Showing empathy for the people…