In the early hours of Wednesday, 11 December, 2024There fire engulfed the ever-busy and popular Alaba Rago (Ram) Market in the Ojo area of Lagos State. It was gathered that the fire, which started at about 12 midnight, destroyed items worth millions of naira. The immediate or remote cause of the fire could not be established as at the time of filing this report, Meanwhile, operatives of the Lagos State Fire and Rescue Service, the Lagos State Emergency Management Authority (LASEMA), and other responders were on the ground battling to put out the raging fire. The Permanent Secretary of LASEMA,…
Author: Soffiyyah Olamide
Twenty four hours after it depreciated, the Naira finds its way back to appreciation against the dollar at the official foreign exchange market. The Central Bank of Nigeria(CBN) exchange rate data for Tuesday,10 December, 2024 showed that the Naira strengthened to N1,525 per dollar from N1,538.50 traded on Monday, 10 December, 2024 This represents an N13.5 gain against the dollar compared to the N1538.50 exchanged the previous day. Meanwhile, the black Naira failed to appreciate as it closed at N1665 per dollar on Tuesday, 10 December, 2024 from N1630 traded on Monday, 9 December, 2024.
The National Bureau of Statistics (NBS) has disclosed that Nigeria’s petroleum products import from Malta increased to N766.81 billion in the third quarter of 2024 despite the coming on board of Dangote Refinery.The made this disclosure in its trade data for Q3 2024 released last week. According to the data, that imports from Malta ranked among the top five in Q3, with motor spirit ordinary, gas oil, durum wheat, cane sugar meant for sugar refineries, and used vehicles with diesel or semidiesel engines of cylinder capacity as the most traded commodities. The report read, “Analysis by trading partners reveals that…
Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has charged chief executive officers of Nigerian banks to seek bold solutions in addressing the challenges facing the banking sector. According to a statement by the apex bank on Wednesday, 11 December, 2024 through its official X account, Cardoso made this call during a Bankers’ Committee Annual Retreat with the theme, ‘Contract And Commitment To National Development And Economic Growth’. Cardoso equally urged stakeholders in the sector to build a more inclusive economy. “Today, we gather to explore bold solutions for a brighter Nigeria. Together, let’s foster innovation, close skill gaps,…
The Central Bank of Nigeria (CBN) has described as fake and figment of imagination a circular that it authorised the sales of foreign exchange to Bureau De Change operators in the country. The circular dated Tuesday, 10 December,2024 had claimed that the apex bank sold $20,000 to each legible BDC operator at N1,300 per dollar rate. “Following the ongoing reforms in the foreign exchange market, aimed at achieving an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria (CBN) has observed the continued price distortions at the retail end of the market, which is feeding into the…
The Zamfara State office of the National Human Rights Commission, NHRC, has raised the alarm over the high rate of human rights violations in the state. The State Coordinator of the NHRC, Abdullahi Abubakar, who made this disclosure, pointed out that records indicated that over 120 cases of human rights violations were recorded in 2024. According to his, the cases include abuse, neglect and the infringement of fundamental freedoms. The NHRC commemorated the 2024 World Human Rights Day with a rally to create awareness on the importance of protecting human rights in the state.
The Nigerian Senate has declared the Edo Central Senatorial District seat vacant, following the election of Senator Monday Okpebholo as Governor of Edo State. The seat was declared vacant via a letter written by the Minority Leader, Senator Abba Moro, which was read at plenary on Wednesday, 11 December, 2024 by the Senate President Godswill Obot Akpabio. The declaration followed Okpebholo’s visit to the Senate to take a final bow, having assumed office as Governor in Edo State. Moro, in the letter addressed to the Senate President, called for the declaration of the seat vacant, as Okpebholo is going to…
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that uncovered at least 34 illegal refineries and 17 pipeline connections across the Niger Delta region in one week. In a video documentary posted on its official YouTube channel on Tuesday,11 December, 2024, NNPCL said that the illegal activities were busted under its ‘War On Crude Oil Theft’ operations between November 30 and December 6, in line with its commitment to end crude oil theft in Nigeria. The company added that the feat was achieved by the joint efforts of NNPCL command and control centres, Shell Petroleum Development Company, Pipeline Infrastructure Nigeria Limited,…
A cargo aircraft belonging to Allied Air has crash-landed at Nnamdi Azikiwe International Airport, NAIA, Abuja, on Wednesday, 11 December, 2024 The incident was as a result of the failure of one of the aircraft’s landing gears. A Lake Chad Basin counterterrorism and insurgency expert, Zagazola Makama, who made this disclosure a post on his X handle on Wednesday,11 December, 2024 stated that the cargo aircraft was carrying six crew members. Makama, who explained that no casualties were recorded as the crew members were promptly evacuated, added that the crews are currently undergoing medical assessments at the 063 Nigerian Air Force (NAF)…
A member of the Nigerian Senate representing Lagos Central Senatorial District, Senator Wasiu Eshinlokun-Sanni has said that despite the critical situation Nigeria finds itself, the government of President Bola Ahmed Tinubu is doing its best to see the country rise to greatness again. He implored all Nigerians to tolerate a little bit more, support the government, as the socio-economic situation of the country continues to improve. Senator Eshinlokun-Sanni also said that he and his colleagues at the National Assembly are working assiduously to support the government in creating a conducive habitable environment for Nigerians to live and thrive. The Lagos Central Senator who was represented…