Author: Ajibola Oluwasegun

The naira yesterday rose to N1,450 per dollar in the parallel market from N1,580 per dollar on Tuesday. In same vein, the naira yesterday appreciated to N1,492.61/$ in the Nigerian Foreign Exchange Market (NAFEM) exceeding the parallel market rate by N42.61. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,492.61 per dollar from N1,560.57 per dollar on Tuesday, indicating N67.9 appreciation for the naira. Consequently, the margin between the parallel market rate and NAFEM widened to N42.61 per dollar from N29.43 per dollar on Tuesday.

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For a serious minded government, education should be a key factor to its developmental agenda. Student/pupils welfare should be topnotch, teachers should be well catered for while infrastructure should be on the front burner of the government’s priority. It is believed that any government with no strong educational policy/framework is on the path to failure. One is therefore tempted to ask what the educational framework of the Adeleke government is? Starting with the sacking of 1500 primary school teachers enployed by the Oyetola administration, to poor infrastructure and low motivation for the existing teachers, it is glaring that the present…

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The Nigeria Labour Congress (NLC) on Wednesday stormed the secretariat of the Labour Party to protest the party’s national convention planned for end of this month.  The Joe Ajaero-led NLC also demanded for the sack of the embattled Labour Party Chairman, Julius Abure over what it described as neglect of the NLC leadership and other critical stakeholders of the Labour Party in the planning of the Labour Party March 27th national convention slated to hold in Umuahia. Last week it emerged that Julius Abure and his faction were planning to hold a “secret national convention” without involving major stakeholders of…

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The Federal High Court sitting in Abuja has ordered Binance Holdings Limited to release to the Economic and Financial Crimes Commission, EFCC, a comprehensive detail of all persons from Nigeria trading on its platform.“Binance is a cryptocurrency exchange platform that lists more than 350 digital currencies, which serve as alternative form of payment, using encryption algorithms. The government had earlier asked Binance for information on its top 100 users in the country, as well as all transaction history for the past six months. The governor of the Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso, had on February 27, disclosed…

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THE Minister of Power, Adebayo Adelabu, has decried the huge revenue lost to the incessant attacks on electricity facilities by vandals who have indulged in blowing up these facilities with explosive. This came as the Minister assured of government’s plan to address the debts, (GENCOs N1.3 trillion and Gas suppliers N2 trillion) to drive efficiency in service delivery across the value chain. The Minister, who was received by a team led by the Managing Director and Chief Executive Officer of Ikeja Electric, Mrs. Folake Soetan, expressed delight over the scorecard of the utility firm. Speaking at the official visit to…

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SOLDIERS have traced the militant leader allegedly behind last Thursday’s killing of 16 soldiers at Okuama Ughelli South Local Government Area, Delta State, to the riverine Igbomoturu community in Southern Ijaw Local Government Area, Bayelsa State, where they killed some youths, who resisted their incursion, and razed some houses belonging to militants. The soldiers, who arrived in seven gunboats and a passport boat at about 8.00 am on Sunday, cordoned off the community, forcing villagers to scamper for safety into the bush. Troops also swooped on the Akugbene community in Bomadi Local Government Area, to arrest perpetrators alleged to have…

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THE Central Bank of Nigeria, CBN, said the 11 Electricity Distribution Companies, DISCOs, obtained a credit facility totalling N273.34 billion to purchase 414,000 meters for distribution. In its report obtained by Vanguard, covering a detailed assessment of the N10.3 trillion developmental finance between 2015 and 2022, CBN, disclosed that the meters purchased included maximum demand meters, Smart meters, and Single-Phase meters. The loan, disbursed under the Nigerian Electricity Market Stabilization Facility intervention project aimed at increasing electricity capacity from 3,400 megawatts, MW to approximately 4,900MW. According to the breakdown, the Ikeja Disco received N40.74 billion from the intervention programme while…

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To halt the raging insecurity and socio-economic crises, and redirect Nigeria on the path of growth and development, there is an urgent need to do away with the 1999 constitution and give Nigeria a new people’s constitution. This was the consensus of elder statesmen, some serving lawmakers, political leaders and lawyers who converged on Lagos, yesterday, for a National Constitutional Dialogue organised by The Patriots, a group of eminent Nigerians and elders in honour of late legal luminary, Professor Ben Nwabueze, SAN. Themed: “Lawful Procedures For Actualising A People’s Constitution for Nigeria,” the event was to also mark the 10th…

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President Bola Tinubu has assured the governorship candidate of the All Progressives Congress (APC) in Edo state, Senator Monday Okpebholo, that the party will stand by him in his quest to become governor. President Tinubu gave the assurance on Monday in Abuja during the presentation of the party’s flag to Okpebholo and his running mate, Honourable Dennis Idahosa, at the State House in Abuja. In a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, the President also noted that the APC is on the path to victory in the forthcoming gubernatorial election in Edo State. Addressing…

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Gov. Abdullahi Sule of Nasarawa State has called on Mr Peter Obi, to support President Bola Tinubu to succeed. Sule made the call when Obi visited him on Monday in Lafia. Obi was the Presidential Candidate of the Labour Party in the 2023 general elections. The governor, who said that elections were over, maintained that the president needs the support of all Nigerians to move the nation forward. “I know you have the experience, competence and capacity to support the president in the overall interest of the country. “The president is your friend and colleague, we were all in Lagos…

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