The naira further appreciated against the dollar at official and parallel foreign exchange markets amid FX supply rises to end the week on a good note. FMDQ data showed that the naira appreciated to N1652.62 per dollar on Friday from N1658.57 per dollar exchanged on Thursday, 21 November, 2024. This indicated that the naira gained N5.95 against the dollar compared to N1658.57 traded on Thursday, 21 November, 2024 The naira further appreciated against the dollar at official and parallel foreign exchange markets amid FX supply rises to end the week on a good note. FMDQ data showed that the naira…
Author: Abimbola Ogunaike
Dangote Refinery has claimed that the Federal Government has not met its target to supply oil to the domestic refinery under the Naira-for-crude deal. Vice President of Dangote Industries Limited, Devakumar Edwin, disclosed this in a recent interview with Reuters. According to Edwin, the amount of crude received from the Nigerian National Petroleum Company Limited is “peanuts” compared to the volume needed to ramp the production of refined products. He stressed that the NNPCL hasn’t met the target to deliver a minimum of 385,000 bpd since the commencement of the programme in October. “We need 650,000 barrels per day. NNPCL…
A recent survey conducted by the National Bureau of Statistics (NBS), revealed that two-thirds of households in Nigeria do not have enough money to afford healthy and nutritious food. The survey, titled “Nigeria General Household Survey–Panel (GHS-Panel) Wave 5 (2023/2024),” found that 71 percent of households were affected by rising prices of major food items, leading to significant food shortages, particularly in June, July, and August, which worsened the food insecurity crisis. “Approximately two out of three households indicated being unable to eat healthy, nutritious or preferred foods because of lack of money in the last 30 days”, the survey…
The Minister of Defence, Mohammed Badaru, has assured that President Bola Tinubu is determined to end insecurity in the Southeast and Nigeria. Badaru said a secure environment is crucial for business growth and peace, hence the need to end insecurity in the region. Addressing military officers during an operational visit to Enugu, the Minister urged the military personnel to intensify efforts to combat the region’s insecurity. This was contained in a statement issued on Saturday, 23 November, 2024 by the Ministry’s spokesman, Henshaw Ogbuike. “There is a renewed determination to intensify our efforts against all forms of insecurity under President…
Borno State Governor, Babagana Zulum, has called on the federal government to do a comprehensive review of Nigeria’s education system in order to address the disconnect between educational institutions and the needs of industries. The Governor made the call during a courtesy visit by the Managing Director and Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr. Special Adviser to Borno State Governor on Media, Dauda Iliya, in a statement, indicated that Zulum expressed concern that many graduates produced by higher institutions lack the necessary skills to drive innovation and technological advancement. He urged NELFUND to…
An irate mob on Friday, 22 November, 2024 set ablaze two men said to be revenue touts working with Anambra State Government. The duo were set ablaze for causing the death of an innocent bystander at Old Market Road along Venn Road by Egerton in Onitsha, Anambra State. It was gathered that the tipper driver lost control of his vehicle and rammed into the by-stander, killing him immediately, as the revenue touts dragged the steering of the vehicle with him. A gory video circulating on the internet showed the mob beating two of the revenue agents with objects and setting…
Following the result of fire outbreak at Ladoke Akintola University of Technology (LAUTECH) Teaching hospital, Ogbomoso in Oyo State which destroyed property worth millions of naira, patients have been evacuated for safety. It was gathered that the incident occurred in the early hours of Saturday, 23 November, 2024. It was also gathered that the fire outbreak started at about 5am in a paedriatrics consultant office. Sources within the hospital also say that the fire also gutted the Emergency and Accident Unit of the hospital. It was learnt that some office equipment, books, engines, electronic gadgets, roof and ceiling worth millions of…
Justice Ijeoma Ojukwu of the Federal High Court, Calabar has convicted and sentenced the quartet of Itoro Eno Akpan, Abasifreke Uwem, Elisha Asuquo Nnah (a.k.a Jong Seck) and Ezinwa Emmanuel Ikenna to various jail terms for internet fraud. The convicts were prosecuted by the Economic and Financial Crime Commission EFCC, Uyo Zonal Directorate on two-count charges bordering on cybercrime, money laundering and impersonation. The charge against Akpan reads: “That you Itoro Eno Akpan, sometime in 2024 in Nigeria within the jurisdiction of this honorable court did take possession of the sum of $400 (Four Hundred Dollars) which you reasonably ought to have known forms proceeds of an unlawful…
Workers in the Ministry of Solid Minerals under the aegis of Federal Mines Officers have sought the intervention of the Economic and Financial Crimes Commission, EFCC in the fight against illegal mining activities. Speaking during a courtesy visit to the Port Harcourt Zonal Directorate of the Commission on Thursday, November 21, 2024, the President of its Port Harcourt Branch, Engr. Naku Romos, who led the delegation stated that the officials came to seek the collaboration of the Commission in their desire to see the curtailment of activities of illegal miners from the country’s mining sector. They noted that activities of illegal miners are not only illegitimate but constitute economic crimes and destructive to the already heavily compromised Niger Delta ecosystem. “We…
Justice Jude Dagat of the Federal High Court, Maiduguri, on Monday, November 18, 2024, convicted and sentenced one Mpada Ishaku Dzarma to nine years imprisonment. Dzarma was first arraigned on May 4th, 2024 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a two-count charge bordering on money laundering and cybercrime to the tune of N 9 million. Count one of the charge reads: “That you, Mpada Ishaku Dzarma between 2023 and 2024 at Maiduguri, Borno State, within the jurisdiction of this Honourable Court did directly take possession of aggregate sum of N9,000,000.00 (nine million…