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CBN sells $148m to 29 authorised dealers

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CBN sells $148m to 29 authorised dealers

The Central Bank of Nigeria has disbursed $148m to 29 authorised dealers as part of steps to stabilise the foreign exchange market amidst the recent free fall of the naira. 

A statement posted on the apex bank’s website on Friday noted that the sales were made to the dealers on Monday, July 22 and Tuesday, July 23, 2024, between an exchange rate of N1470.00/$1 and N1510.00/$1.

This development comes two weeks after the CBN sold $122.67 million to 46 authorised dealers in a move aimed at promoting market stability and reducing volatility. 

A week ago, it also announced that $20,000 is to be sold to each BDC at the rate of N1,450/$1. 

Despite this move, the naira has depreciated against the US dollars, trading above N1,600 on Thursday at the official market. 

The statement read, “The Central Bank of Nigeria sold a cumulative sum of US S148,000,000.00 in the Nigerian Foreign Exchange market to authorised dealers on July 22 and 23, 2024.

“The sale of foreign exchange was to 29 authorised dealer banks at an exchange rate of 1470.00/US$1-1510.00/US$1.”

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Fraud: Kano Judicial Service Commission dismisses court registrar, sanctions others

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The Kano Judicial Service Commission, JSC, has sanctioned six court officials over alleged fraud, extortion and forgery.
The JSC took the decision during its 74th meeting held on 22nd July, 2024.
Baba Jibo Ibrahim, spokesman Kano State Judicial Service Commission, made this known in a statement on Friday.
He said the Judiciary Public Complaint Committee, JPCC, investigated a petition brought against two court registrars (Mustapha Makama Registrar C.M.C 27 and Yusuf Muhammad Yakasai Registrar C.M.C 14 Gyadi-Gyadi) who conspired and extorted the sum of N130,000 from a petitioner under the pretense of releasing a suspect on bail, which turned out to be false.
The Committee found that their action amounts to extortion and conspiracy, involving unlawful receipt of funds.
Ibrahim maintained that the Judicial Service Commission, acting on the recommendation of the JPCC, directed Mustapha Makama to proceed on compulsory retirement, having been found not to be fit and proper to continue in the service of the judiciary, while Yusuf Muhammad Yakasai, who is an accessory to the misconduct, has been demoted one grade level downward.
“The JPCC also investigated a petition against a syndicate comprising Salisu Ado (Secretary at High Court Complex Bompai), Bilya Abdullahi (Senior Registrar High Court No. 9), Ismail Garba and Auwalu Ibrahim Khalil (Court Registrars) and found their action amount to conspiracy, forgery and cheating by issuance of forged bank reversal court order and also forging the signature of a magistrate.
“The Judicial Service Commission upon adoption of the recommendation of the JPCC has suspended the above mentioned staff with immediate effect.
“The Commission will continue to apply the appropriate sanctions against any erring staff particularly those saddled with judicial responsibilities in order to safeguard the integrity and accountability of the judicial system and maintain public confidence,” the statement added.
Fraud: Kano Judicial Service Commission dismisses court registrar, sanctions others

Iwuanyanwu’s death great loss to Nigeria, Igbo nation — Sanwo-Olu

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'Today is a bad day for Ndigbo,' Ohanaeze mourns Iwuanyanwu 

Lagos State Governor, Mr Babajide Sanwo-Olu, has mourned the passing of the President-General of Ohanaeze Ndigbo Worldwide, the late Chief Emmanuel Iwuanyanwu.

The governor joined numerous local and international well-wishers in mourning the passing of the late icon.

He described Iwuanyanwu’s death as a colossal loss to Nigeria, with a particular impact on the Igbo nation and the media industry.

The governor also described Iwuanyanwu, an accomplished businessman and media mogul, who died on Thursday at 81 after a brief illness.

He described the deceased as “a respected elder statesman and detribalised Nigerian.”

Sanwo-Olu, in a condolence statement issued on Thursday by his Special Adviser on Media and Publicity, Mr Gboyega Akosile, sympathised with the Ndigbo at home and abroad over the demise of their President-General.

It was titled, “Sanwo-Olu mourns Ohanaeze Ndigbo president Iwuanyanwu.”

He also consoled the Chairman of the Progressives Governors Forum and Imo State Governor, Senator Hope Uzodimma, and the entire people of Imo State over the death of their illustrious son.

The governor also sympathised with the deceased’s wife, Frances Iwuanyanwu, children, friends, and associates, as well as the management and staff of Champion Newspaper and other businesses of the late Iwuanyanwu.

He said, “On behalf of my family, the Government, and the people of Lagos State, I mourn the death of the President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu.

“Chief Emmanuel Iwuanyanwu was an active participant in Nigerian politics, having served his party in different capacities and contested for Nigeria’s presidency on three occasions.

“He contributed his quota to the development of his people and the country at large. He was very passionate about the interest, growth, and development of all Igbo at home and in the diaspora.

“As a media proprietor and accomplished businessman, he contributed his quota to the economy of Lagos State by providing job opportunities for many young Lagos residents in the media and other companies he established.”
Sanwo-Olu also prayed that God should repose the soul of the deceased.

“He was a philanthropist who dedicated his life to the service of his community, state, and the country in different sectors. His footprints in sports development in Nigeria as the founder of Iwuanyanwu Nationale Football Club (now Heartland F.C.), which won several national and international championships, would not be forgotten for many years to come.

“I pray for the repose of the soul of the late Chief Emmanuel Iwuanyanwu and pray that God grants the Ndigbo, the deceased’s family, friends, and associates the fortitude to bear the irreparable loss,” the statement stated.

According Online reports that official communication about the details of his burial has yet to be announced by the family.

IED explodes at Yobe livestock market

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An explosion suspected to be a planted Improvised Explosive Device, IED, has exploded at the popular Buni Yadi market in Gujba Local Government Area of Yobe State.
Channels Television reports that the incident occured around 12.30 pm this afternoon, injuring a girl, according to a resident of Buni, Ali Hassan.
Details to follow….
IED explodes at Yobe livestock market

Police foil attempted carjacking, kill two, arrest others in Abuja

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Police foil attempted carjacking, kill two, arrest others in Abuja

Two suspected armed robbers were killed on Thursday night while trying to hijack a Prado Jeep at gunpoint in the Jahi area of Abuja, Federal Capital Territory.

This was confirmed by FCT Commissioner of Police, Benneth Igweh, during a press briefing at the police command in Abuja on Friday.

There, he also presented two arrested members of the robbery gang, according to Daily Trust.

The incident occurred around 10.45pm on Thursday.

He said, “A four-member robbery gang encountered a crime prevention patrol led by the Divisional Police Officer (DPO) of the Mabushi Police Division.

“The robbers initiated a gunfight upon spotting the police, leading to a fierce exchange of fire.

“Two of the robbers were shot dead during the confrontation.”

The CP revealed that the two arrested suspects, identified as Joshua Godfrey, also known as Dogo, and Abdulsalam Mamuda, both residents of Mabushi village, were apprehended following the shootout.

“While during the crossfire with our men, two among the four-men robbery gang whose names were identified as Joshua Godfrey A.K.A. Dogo and Abdulsalam Mamuda both of Mabushi village were arrested,” he said.

Two other vehicles were recovered by the police.

“A blue Toyota Matrix with the registration number BWR 626 JB, used by the robbers, was recovered at the scene.

“The suspects also led the police to another stolen vehicle, a Toyota Corolla with the registration number RBC 743 AH, believed to have been taken from another victim,” he added.

Reaffirming the police command’s dedication to ensuring public safety, Igweh “urged residents and medical facilities in the Federal Capital Territory to report any individuals seeking treatment for gunshot wounds.”

Earlier in 2021, the police gunned down two suspected armed robbers at Gwarimpa, Abuja.

The deceased, who were members of a four-man gang were killed while robbing their victims at 7th Avenue, Gwarimpa.

August 1: Don’t use protest as cover for insurrection, anarchy — IMPI

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The Independent Media and Policy Initiative (IMPI) says protests are legitimate in a democracy, but should be used as cover for insurrection and anarchy.
Mr Niyi Akinsiju, the chairman of IMPI policy analyst group, said although protests were acceptable in a constitutional democracy, no government would tolerate a call to anarchy and disturbance of public peace.
He said it would seem that some individuals and groups were laying the groundwork for insurrection under the cover of a peaceful protest.
Akinsiju said that a peaceful protest is often well organised, orderly and non-violent.
IMPI said: “For several weeks, we have quietly watched as some individuals and groups mobilised for what they call’ 10 days of rage’ starting on Aug.1.
“Their mode of preparation, gauged from their actions and speeches, shows that they may be bracing up for riots, chaos, and violence, which are antithetical to peaceful protest.
“Engagement in peaceful protest as a means to reduce the cost of living should be seen from the perspective of actions being taken to ameliorate whatever conditions are considered unpalatable.
“Interestingly, within the time that some are mobilising for the protest, the administration of President Bola Tinubu has continued to roll out policies and programmes to address perceived challenges”
Those policies, according to him, are targeted at stemming the effects of the global cost of living crisis as it affects the country. (NAN)
August 1: Don’t use protest as cover for insurrection, anarchy — IMPI

Edo Guber: Disregard Udeh’s hoodwinked charades – NRM tells INEC

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The National Rescue Movement, NRM, has said that its National Management Committee (NMC) was unaware that its absconded National Chairman, Issac Udeh, and its governorship candidate for the Edo guber election, Dr Dennis Akoriogie, staged a flag off of the party’s campaign.
A statement signed by Comrade Olusola Afuye, the National Publicity Secretary of the Movement, said the flag-off was done without the knowledge of the members of the Party’s National Management Committee and/or the State
Executive Committee, Edo State Chapter in accordance with the party’s constitution.
The National Management Committee condemned the action of Mr. Isaac Udeh, who, according to the statement, ”Nicodemusly’ hid himself at Bolingo Hotel Abuja, to hand over the party’s flag to its candidate; an action inimical to the Modus Operandi of our great party and usurpation of the power of the National Management Committee (NMC); and therefore null, void and of no effect”
The statement added, “In the light of this show of shame, the party hereby requests election stakeholders to disregard the Udeh’s hoodwinked
charades.
“The Party is deeply disturbed by the ignorance shown by our candidate, Dr Dennis Aikoriogie who should have known better that Mr. Isaac Udeh cannot singlehandedly hand over a party flag to him. In fact, this show of shame is a dangerous situation that portends failure.
“The Party wonders if the candidate has forgotten so soon how he came into the party, got his nomination form, screened and subsequently emerged as the NRM’s candidate and those that stood firmly with him when charlatans were using underhand factors to rubbish his efforts and trying to cut short his desired ambition. It would be recalled that the struggle against his exclusion on the INEC Candidates list, the National Management Committee staged a robust protest at the INEC Headquarters covered by the media.
“The party is shocked that the candidate is now deceiving himself in a sudden and accidental friendship with Mr. Issac Udeh, who undermined the party’s effort to have him uploaded as candidate of the party.
“It is obvious that the NRM National Management Committee is so magnanimous in victory and ready to uphold the party’s principles, which is the reason the leadership is happy after the high court judgement that validated his candidature.
“However, for the sanctity and respect of our party structures, especially the State Executive Committee (SEC), the National leadership of the party cannot keep a blind eye for any candidate to relegate the State Executive Committee in exercising its responsibilities to our great party before, during and after the election.
Stakeholders may not have forgotten that Mr. Isaac Udeh had sponsored a mob crowd in Benin and paraded them as members of NRM in order to stage a parallel primary meant to frustrate the candidacy of Dr Dennis Osaron Aikoriogie.
“Udeh connived with disgruntled elements in INEC Headquarters and Benin to submit the name of one Barr Irabor as his candidate.
“An illegal activity the party National Management Committee fought so hard to overturn even as Prof Mahmood Yakubu set a high-powered Panel to look into it.
“Thereafter, the same Isaac Udeh’s ‘candidate’ with his tacit approval approached a federal high court to declare him as candidate of the party.
“The National Management Committee of the NRM is clear that the party will not condone any act of lawlessness or brigandage targeted at undermining any organ of the party or our constitution.
“We do not blame Isaac nor Denis Aikoriogie. The duo have no idea of the strength of the party in Edo State especially where we have tested the ground during the last governorship election in which the NRM came fifth even with our candidate withdrawing for Obaseki.
“The National Management Committee by this release directs Isaac Udeh, who has not visited the party National Secretariat since February 2023, to report to the Office on or before 2pm Friday 26th July, 2024 or risk further sanction from the party as no officer of
the party is bigger than the party as ours is an organization run by law.
“Finally, the National Management Committee of the NRM will update the members of the public in the coming days on our stand in the Edo Guber Poll and urge all our gallant party faithful and supporters under the leadership of the indefatigable grassroots
mobilizer and revered Chief Sam Arase in Edo State to be patient and keep selling the NRM message to the good people of Edo State as we take necessary steps to address the numerous atrocious infractions.”
Edo Guber: Disregard Udeh’s hoodwinked charades – NRM tells INEC

Porn, betting sites recorded 162m Nigerian visitors in June

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Porn, betting sites recorded 162m Nigerian visitors in June

A recent report by global data and business intelligence platform StatiSense has revealed that Nigerian mobile users made over 162 million visits to porn and betting websites in June 2024.

The platform’s latest data, which highlights the top ten websites visited by Nigerians on mobile devices last month, shows a significant portion of this traffic is directed towards adult content and gambling sites.

According to a post shared by StatiSense on its official X page, the top visited websites included a mix of search engines, social media apps, and betting platforms. Notably, Xvideos and Xnxx, two adult sites, collectively received 80.18 million visits, ranking second and sixth respectively. READ MORE

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Budget probe: Reps give EFCC chairman 4-day ultimatum to honour invitation

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The House of Representatives Committee on Financial Crimes has given Mr Ola Olukoyede, Chairman of the Economic and Financial Crime Commission, EFCC, till July 30 to appear before it over budgetary allocation issues.
The committee said that Olukoyede, along with his management team, should appear to answer questions relating to the commission’s budget performance and its challenges.
Rep. Obinna Onwusibe, the chairman of the committee, expressed the panel’s displeasure at an oversight of the commission’s office in Abuja.
The committee condemned what it described as the snobbish attitude of the chairman and the denial of the committee’s members access into the commission’s complex.
Following the denial of access into the commission’s complex, the committee members headed back to their bus and returned to the National Assembly.
The committee had visited the EFCC headquarters after communicating with the anti-graft agency and agreeing on a date for an oversight visit.
The committee was, however, surprisingly told that the chairman was called for an unexplained emergency development at the Central Bank of Nigeria (CBN).
Reacting, the committee chairman said: “In performing our constitutional functions we had written to the EFCC for this oversight visit.
“The latest letter to EFCC was last week and we all agreed that the oversight is going to be today.
“The essence of the oversight is for the committee to know the budget performance of the EFCC as appropriated by this National Assembly.
“That was exactly why we went and to also see other things, including the challenges being faced by the EFCC.”
He said the committee had requested that the chairman, and all the zonal commanders of the EFCC be invited today for us to interface with them.
“But, the committee also saw that they were not on ground,” he said.
The committee, however, resolved that it would not continue with the oversight and resolved further to summon the EFCC chairman and his team to appear before it.
“As far as we’re concerned, the functions and integrity of this 10th National Assembly cannot be taken for granted.
“We’ve written severally to the commission, requesting information and documents and are yet to get them,” he said.
Budget probe: Reps give EFCC chairman 4-day ultimatum to honour invitation

Dangote Refinery should be national pride, not vilified – APC chieftain

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A former Chairman of the All Progressives Congress, APC, in South Africa, Bola Babarinde, says the Dangote Refinery should be a national pride.
Babarinde in a statement on Friday, said critics of the refinery should focus on constructive solutions rather than negative publicity.
He noted that the refinery represented a significant stride towards self-sufficiency in the petroleum industry.
According to him, unlike those who siphoned the nation’s wealth and stashed it abroad, Alhaji Aliko Dangote reinvested in Nigeria, creating infrastructure and job opportunities for Nigerians.
Babarinde noted that Dangote throughout his career had maintained a strategic relationship with successive governments in the country.
He said critics, however, argued that his close ties with political powers had afforded him undue advantages, including favourable policies and contracts.
The APC chieftain said that Dangote supporters, however, saw in him a savvy businessman, who understood the importance of aligning with the government to foster national development.
“Despite these controversies, Dangote remained a steadfast and focused entrepreneur.
“His commitment to Nigeria is evident in his investments and the jobs created by his enterprises.
“While some wealthier Nigerians amassed fortunes through dubious means, Dangote’s wealth is largely traceable to legitimate business ventures.
“This transparency sets him apart from corrupt politicians and civil servants who exploited public resources for personal gains.
“Aliko Dangote remains a complex figure in Nigerian business and politics and his story is one of ambition, strategy, and resilience.
“While his methods and relationships with power may invite scrutiny, his contributions to Nigeria’s economic landscape are undeniable.
“As the nation seeks a path to prosperity, figures like Dangote play a crucial role, albeit one that requires careful balancing of national interests and individual enterprise,” he said.
Dangote Refinery should be national pride, not vilified – APC chieftain

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