Connect with us

News

Naira crashes to N1,000 per dollar

Published

on

Naira rebounds to 1,275/$ at parallel market
Spread the love

The naira on Tuesday exchanged at N1,000 to the United States dollar at the parallel market, a historic dip that spotlights the weakness of President Bola Tinubu’s efforts to manage the national currency amid runaway inflation.

While the central bank’s rate appeared to stabilise at N768 per dollar over the past week, the currency value has sunk to critical depths for those trying to access it at the parallel market, where most foreign exchange transactions are conducted in Nigeria.

According to Abokifx, a website that aggregates daily rates for Nigerians using parallel market sources, the dollar sold at N1,000 on Tuesday morning.

Abokifx gained prominence shortly after the naira began a steep freefall in 2016, following President Muhammadu Buhari’s brazen display of power over the central bank’s activities, which turned off international investors and reduced dollar inflow into Nigeria even as demand grew from within the country.

Ousted Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) attacked Abokifx in 2021 for allegedly manipulating the exchange rate at the parallel market.

Maduka College Advert

Abokifx’s shutdown in September 2021 has so far done nothing to stop the naira’s free fall and steep crashing at the parallel market. But critics admonished Mr Emefiele at the time to focus on stabilising the naira rather than his 2023 presidential ambition, which appeared to have distracted him from functioning efficiently as Nigeria’s top banker.

The naira has continued to depreciate considerably against the dollar despite Mr Tinubu’s attempt to allow the free market to determine its value. It was exchanging at about N650 when Mr Tinubu took over from Mr Buhari on May 29.

Spokespersons for both the presidency and the central bank did not respond to requests seeking comments about the naira’s historic fall on Tuesday.

News

Grant repentant cultists, militants in Orashi amnesty, Nwuche begs FG

Published

on

SIT-AT-HOME: Five feared killed as gunmen  attack two Anambra communities
Spread the love

Former Deputy Speaker of the House of Representatives and Chairman of the Governing Board of the South-South Development Commission, SSDC, Chibudom Nwuche, has urged the Federal Government to grant amnesty to repentant cultists and militant youths in the Orashi area of Rivers State who are willing to lay down their arms and embrace peaceful and productive lives.

Nwuche also called for the rehabilitation, reorientation and reintegration of such youths into society, saying the initiative would help restore peace and security to the troubled communities.

The Orashi area comprises Ahoada East, Ahoada West, Abua/Odual and Ogba/Egbema/Ndoni local government areas of the state.

Nwuche made the appeal through his representative, Chief Kingdom Ajugo, at the commencement of the 2026 Upata Folklore, Ele, at Ula Upata, Ahoada East Local Government Area, on Tuesday.

He expressed concern over the deterioration of security in Ahoada and other parts of the Orashi region, saying the area had witnessed killings and various forms of criminality.

Maduka College Advert

He recalled the gruesome killing of the then Divisional Police Officer, DPO, late CSP Bako Amgbashim, whom he described as a dedicated, intelligent and gallant police officer.

According to him, several appeals have been made to Rivers State government for an amnesty programme for repentant youths in the area, with no action taken.

Nwuche, therefore, appealed to the federal government, particularly the Office of the National Security Adviser, ONSA, headed by Mallam Nuhu Ribadu, to consider an amnesty programme for repentant cultists and violent youths.

He said the programme should include proper rehabilitation, reorientation and reintegration measures to enable beneficiaries become productive members of society.

He also appealed to youths still involved in cultism, kidnapping, robbery and other criminal activities to abandon violence and embrace legitimate livelihoods.

Related News
2027: APC govs divided over Wike, Uzodimma, AbdulRazaq’s feud
Nigeria must process agro commodities to boost export earnings — Stakeholders
Fish import bill drops 14% to N167bn in Q2’26 – NBS
“Those who are still carrying guns and killing our people indiscriminately should stop and accept amnesty and be ready to be reintegrated into society,” he said.

Nwuche said the predominantly farming and trading Ekpeye people should be able to carry out their legitimate businesses without molestation, harassment or fear.

He said hundreds of Ekpeye people had lost their lives to cultism and related violence over the years, declaring that the situation must end.

He urged traditional rulers, community leaders, government and the people to work together to restore peace, insisting that Ekpeye land could no longer be allowed to become a haven for criminals.

Urges Ekpeye unity

Nwuche also urged Ekpeye traditional rulers to provide exemplary leadership and work together to advance the interests of the people.

He appealed to the people of Upata to support their monarch, Eze (Dr.) Felix E. Otuwarikpo, Eze Igbu Upata III, and preserve the cultu ral heritage of the kingdom.

He described the annual Upata Folklore as an important platform for promoting unity, culture and hospitality among the people.

The monarch had earlier declared the 2026 celebration open, describing it as an enduring tradition through which the people celebrate their culture and heritage following the harvest season.

Use your votes wisely in 2027

On politics, Nwuche urged the people of Ekpeye to vote wisely in the 2027 general elections, saying they should support politicians who had demonstrated commitment to the development of the area.

“We have seen and known all those seeking our votes, and I will therefore urge you not to waste your votes but to support those who have shown attention and developed Ekpeye land,” he said.

Nwuche also spoke in support of President Bola Tinubu’s second-term bid and the political platform associated with FCT Minister and former Rivers State governor, Nyesom Wike.

He said he would, at the appropriate time, tour Ekpeye and the wider Orashi region to mobilise support for the political coalition led by Wike.

He recalled projects executed during Wike’s tenure as Rivers State governor, saying they remained significant to the development of Ekpeye land.

The event attracted traditional rulers, chiefs, community leaders, women and youth groups, students and representatives of Ahoada East and Ahoada West local governments. It featured cultural displays, traditional dances, goodwill messages and presentation of gifts to the monarch, chiefs and participants.

Continue Reading

News

Some Pilgrim Board leaders are enablers of corruption, says EFCC Chairman

Published

on

EFCC chairman raises the alarm over cybercrime epidemic
EFCC Chairman, Ola Olukoyede
Spread the love

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, on Wednesday alleged that some pilgrim boards have been involved in corrupt practices in the country.

Olukoyede stated this at the Inter-Religious Council meeting in Abuja and the public presentation of the commission’s inter-faith manual to religious bodies.

While speaking about past investigations carried out by the commission, the EFCC chairman spoke on how monies released by government for both Christian and Muslim pilgrimages were siphoned.

He urged Christian leaders to use their platforms to champion the anti-corruption fight, explaining that the moral dignity of honest living must return through preaching.

Olukoyede also underscored the importance of the inter-faith manual in addressing topical issues that affect religious adherents.

Maduka College Advert

The EFCC, therefore, urged religious leaders to deploy their influence to sharpen the conscience of their faithful as part of Nigeria’s anti-corruption campaign.

The leaders of the two major religions in the country, Sultan of Sokoto, Muhammad Sa’ad Abubakar, and President of the Christian Association of Nigeria, Rev. Daniel Okoh, in their separate remarks, emphasis end the importance of fostering unity for a better Nigeria and leading the effort against corruption in the country.

The Executive Secretary of NIREC, Prof. Cornelius Omonokhua, said the second edition of the anti-corruption preaching and teaching manual was developed through the Interfaith Anti-Corruption Advisory Committee of the EFCC.

He said the manual and facilitators’ guides were designed to assist Christian and Muslim preachers in communicating authentic religious teachings against corruption while promoting peaceful coexistence.

Omonokhua said, “No nation can flourish in the face of corruption at all levels,” adding that a religious leader involved in corrupt practices could not claim to uphold the teachings of his faith.

Also speaking, the Secretary to the Government of the Federation, George Akume, who represented President Bola Tinubu, said religious leaders and other stakeholders had a role to play in addressing insecurity and other challenges confronting the country.

Akume said violence, banditry, kidnapping, communal clashes and terrorism had left many Nigerians afraid, including parents who were reluctant to send their children to school.

He said religious leaders, traditional rulers and the government must work together to counter narratives of division and conflict.

The event was attended by the President of the Christian Association of Nigeria, Rev. Daniel Okoh; the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar; former JAMB Registrar, Prof. Ishaq Oloyede; the Emir of Zazzau, Alhaji Ahmed Nuhu Bamalli; and the Shehu of Borno, Abubakar Umar El-Kanemi, among others.

The EFCC has previously identified engagement with faith-based organisations as part of its preventive anti-corruption strategy, including the development of interfaith manuals for Christians and Muslims.

Continue Reading

News

Mbah Flags Off Enugu Air Maiden Int’l Flight to Douala, Cameroon

Published

on

Spread the love

•  Enugu Air CEO: Enugu becoming a gateway

The Governor of Enugu State, Dr. Peter Mbah, has flagged off the first-ever international service by Enugu Air, describing it as a major milestone in his administration’s vision to grow Enugu State into a major aviation hub and make it the preferred destination for investment, business, tourism, and living.

Speaking at a brief ceremony at the Akanu Ibiam International Airport, Enugu, on Wednesday, Mbah, who heaped commendations on the leadership of the state-owned airline for the fast growth of Enugu Air, said it was not an isolated story, but a part of connecting the dots as his administration strives to grow Enugu State into a $30 billion economy.

“Months ago, right here, we watched Enugu take to the skies. In just barely six months after a rigorous regulatory process, Enugu Air obtained her Air Operator’s License. This is not a mean feat.

“Today, 14 months after, we can see that dream flying beyond our expectations, as Enugu Air is one of the fastest-growing airlines in Nigeria, without a doubt.

Maduka College Advert

“But we did not conceive of Enugu Air as a bragging right or because of the clamour, or to gain some political acclaim. Enugu Air is part of the masterplan to make Enugu State the premier destination for investment, living, business and tourism. For us, Enugu Air is part of connecting the dots,” he stated.

Mbah described Enugu Air as a campaign promise kept, saying the Enugu–Douala service was the beginning of many more international flight operations to many parts of the world.

“What you are seeing here today is performance above promises. So, we ask you to judge us by the things we have promised and have delivered to you.

“Besides, today is Douala, but I am hoping tomorrow, we are not only going to be talking about the continent of Africa, we will be talking about Enugu to the world,” he added.

He thanked President Bola Tinubu “for consistently demonstrating his commitment to aviation infrastructure and for the support he is also giving to the states to enable us to create businesses like Enugu Air,” commending also the Minister of Aviation and Aerodrome Development, Festus Keyama, SAN; and the agencies under him such as the Federal Airports Authority of Nigeria (FAAN) and the Nigerian Civil Aviation Authority (NCAA) supporting Enugu Air’s growth and making Nigeria a standard bearer in the African aviation industry.

Speaking, Enugu Air CEO, Capt. Tolu Ita, said Enugu Air was not merely launching a flight, stressing, “we are launching a new chapter.”

“This is a chapter in which Enugu is no longer simply where a journey begins or ends. Enugu is becoming a gateway.

“Today, much bigger than an aircraft will be moving across our skies. Opportunity will be moving. Business will be moving. People will be moving. Ideas will be moving. And Enugu will be moving with them. This is what makes today so significant.

“Enugu Air was never built with the vision to simply put aircraft in the sky. The vision was to build an airline that connects people, connects markets and connects possibilities.

“We began by strengthening our domestic network — connecting Enugu with Lagos, Abuja, Port Harcourt, Kano, Owerri, Asaba, Benin City and Warri.

“Today, we take our first major step beyond Nigeria. Enugu to Douala. Nigeria to Cameroon. The Southeast to Central Africa. And this is only the beginning.

“Our ambition is to continue building a stronger regional network across Africa, while progressively opening the door to wider international markets,” she said.

In growing Enugu Air, Ita reaffirmed the airline’s responsibility and commitment to authorities, passengers, and all stakeholders, upholding the highest operational and ethical standards.

In her goodwill message, the Managing Director/CEO of the FAAN, Mrs. Olubunmi Onabanjo-Kuku, said Enugu Air’s inaugural international flight was “a strong statement of Nigeria’s growing capacity to connect7 people and businesses across West and Central Africa.”

Represented by Mrs. Onyeka Udenze, the7 FAAN DG said, “Akanu Ibiam International Airport now takes a firm step as a regional hub.”

While congratulating Enugu Air for the fast growth in 14 months, she assured that FAAN remained committed to providing the infrastructure, safety standards and support that make such services possible.

The DG of NCAA, represented by the Director of Air Transport Regulations, FAAN, Mrs. Olayinka Babaoye-Iruobe, said connecting Enugu to Douala directly represented would create opportunities for increased trade, investment, tourism, and movement of people, while strengthening social and economic ties between Nigeria and Cameroon.

In his welcome address, the Commissioner for Trade, Investment, and Industry, Dr. Sam Ogbu-Nwobodo, said the new service to Douala marked a monumental leap forward in the state’s trade, investment, and economic integration strategy.

“For decades, the vibrant traders, manufacturers, and entrepreneurs of Enugu and the broader region have navigated complex transit routes to access Central African markets.

“Today, that barrier is dismantled. This direct link directly advances our goal of transforming Enugu State into a premier regional hub for commerce and industrial development. We are now effectively bridging markets, shortening supply chains, and unlocking unprecedented opportunities for cross-border commerce across Central and West Africa,” he said.

The Maiden flight, which departed Akanu Ibiam International Airport in the early hours of the afternoon, touched down safely at the Douala International Airport where it was well received by the Cameroonian authorities in a brief ceremony before it returned to Enugu on the history trip.

Continue Reading

Trending

Maduka College Advert