The naira, which has depreciated for over two weeks, on Monday recovered by 0.95 percent as demands for the dollar moderated in the parallel market, also known as black market.
During the intra-day trading on Monday, the naira traded at N1,575, marking a N15 gain compared to N1,590 traded last week in the black market.
Traders said on Monday that the demand for the dollar by end users moderated as the market witnessed calmness.
On Friday the naira fell to a new low of N1,590 in the parallel market following a shortage of dollars. The first time the naira depreciated to this level was on February 16, 2024, according to data compiled from street traders and online data collating platforms.
Analysts at Afrinvest Securities Limited said the naira depreciated on renewed USD demand-supply imbalance.
The naira on Friday appreciated by 1.96 percent after about one week depreciation, to close the week at N1,517.93, marking a gain of N29.88 compared to N1,547.81 per dollar quoted on Thursday, at the Nigerian Foreign Exchange Market (NFEM), data from the Central Bank of Nigeria (CBN) indicated.
Nigeria’s external reserves gained 5bps week/week to $38.4 billion as of March 12, 2025, according to data from the CBN.
Economic inequality is the unequal distribution of income and opportunity among different classes in the society .Economic inequality favors the rich and the powerful while leaving the poor worst off. In the south eastern Nigeria, since after the civil war, there were deliberate attempt to sideline many people from eastern part of Nigeria from participating in the sharing of Nigeria commonwealth. The civil war ended on the note :No victor , No vanquish .This agreement was never respected by the supposedly victorious Nigeria Generals against the people of eastern Nigeria and thereafter economic policies to promote divide and rule were deliberately initiated to suppress the most enterprising ,productive and innovative spirit of the people from eastern region of Nigeria. Dr. Michael Okpara industrial revolution that made eastern Nigeria the fastest growing economy before the civil war was deliberately frustrated. Merit was sacrificed in the altar of nepotism and tribalism and these actions laid the foundation for economic inequality in the eastern part of Nigeria. Only those within eastern region who were ready to trade off their integrity and expertise were economically empowered through political appointments and juicy contracts as well as oil licenses. This research work targets to address insecurity in the south eastern Nigeria from economic perspective.
An effort to create economic prosperity and initiate even distribution of income as well as equal opportunity in the entire former eastern Nigeria was actually kick-started by Dr. Michael Okpara –the pioneer Premier of Eastern Nigeria from 1959-1966 (Okpara, M). According to Prof. Akalogwu (2023), ‘Dr. Michael Okpara economic revolution was anchored on manpower, agricultural and industrial development(s). It was the deliberate truncation of Dr. Okpara laudable economic program by Nigeria Government at the center after the civil war that created economic inequality and subsequently created avenue for agitations for uncountable reasons as well as insecurity. Now, let us examine Dr. Okpara economic strategy before it was stopped for obvious political reasons.
Starting with manpower development, Dr. Michael Okpara understood the importance of education and that was why he supported University of Nigeria, Nsukka established by Dr Nnamdi Azikiwe in 1960. Dr. Okpara tried to raise the standard at the secondary level of education to ensure quality feed into the university which would help develop well-trained workforce for the region. Dr. Okpara Administration also introduced universal free primary education in the Eastern region following the example of the Western Region where Chief Obafemi Awolowo in 1955 became the first Premier to implement the policy, Free Primary Education was such a big deal in the 60s as the primary school certificate was not only an entry point into teaching and other junior civil service jobs, but also the basic ladder to educational advancement.
On Industrial development, Dr. Okpara Government developed industrial clusters in the region’s major cities. For instance, the government invested in a number of industries organized around construction and building– Corrugated Iron sheets (Port Harcourt); Asbestos Roofing Sheets, Ceiling boards and Pipes (Enugu); Metal Door and Window frames (Port Harcourt); Bricks (Umuahia), Door Mats (Aba). It also actively encouraged private companies to go into household materials and décor such as mattresses, metal and wooden furniture, among others. Many industrial layouts were procured to encourage large scale production as well as small and medium enterprises.
The Eastern Nigeria Development Corporation (ENDC) drove Dr. Okpara effort at industrialization and agrarian revolution and the following historical manufacturing entities were direct or indirect products of Okpara’s leadership genius- Nigercem at Nkalagu, Nigergas and Nigersteel at Emene, Aba Textile Company, Golden Guinea Breweries and Modern Ceramics Industries, Umuahia, Standard Shoe Factory, Owerri, among others. The regime’s wave of industrialization also spurred developments in tourism and hospitality which led to the establishment of hotels including the prestigious 4-star Presidential Hotels in Enugu and others.
On Agricultural development , Dr. Okpara embarked on massive plantations and farm settlements across the region which today encompasses 9 states- Cross River, Anambra, Imo, Enugu, Bayelsa, Abia, Ebonyi, Akwa-Ibom and Rivers States as Minister of Agriculture before Nigeria independence. And by the time Okpara became Premier in 1960, the plantations had begun to yield fruit at rate of 2.5 to 3.13 tonnes of bunches per acre. And while these were slightly below the projected yield of 3.13 to 3.37 tonnes of bunches per acre because of inefficiencies of Government plantation management, it still made the Eastern region a global leader in Palm produce and a mainstay of the Nigerian economy, along with Groundnuts, Cotton, Rubber, and other produce. The immense success of the palm plantations led Malaysia to Eastern Nigeria in 1961 to take their first palm seedlings for cultivation. A key component of the region’s Agrarian revolution under the Premiership of Dr. Okpara was in the area of development of grains, particularly rice. Dr. Okpara’s government invested substantial resources in the expansion of rice production in Abakaliki and other parts of the region which was boosted by the development of milling facilities such that by 1965, Abakaliki had become the main rice processing center in Nigeria handling massive deliveries from rice cultivating communities from other regions of the country. This helped turn rice which hitherto was exclusive to the rich, into a major staple of the region.
Livestock development was also a core component of Dr. Okpara’s integrated agrarian revolution with primary focus on poultry farming and to a lesser degree, Pig farming. This involved recruitment of specialists in poultry development through a United States Agency for International Development (USAID) assisted program. By 1962, Eastern Nigeria was relatively self-sufficient in poultry meat with substantial surpluses of eggs which led to the government policy of one egg per person, per day.
In its effort to transform the agricultural sector, the Okpara administration adopted the leading technologies in crop science, animal husbandry and food processing with the goal of creating value chains to ensure sustainability. Little wonder the region was self-sufficient in food production and sought markets for her agricultural products in other parts of the country and beyond. The study focuses on the revolutionary economic policies of Dr. Michael Okpara before the war to justify that economic inequality is the reason for the present agitations and insecurity that have bedeviled South east in the current dispensation . It was the failure of Nigeria authorities in the post-civil war era to sustain Dr. Okpara economic development model that laid the foundation for the current confusion we have in the Nigeria system today.
The study therefore targets to address the fundamental issues viz;
To establish that causes of economic inequality in the south eastern part of Nigeria.
To determine the implications of economic inequality on insecurity in the REGION.
To recommend measures to solve the insecurity in South Eastern Region.
The causes of economic inequality in the south eastern part of Nigeria
Economic Concentration: There has been concentration of economic and political power in the hands of few people in Nigeria. Since the end of civil war till date, Nigeria has operated a constitutional arrangement that concentrated sharing of the country commonwealth at the centre. So, those powerful politicians in Abuja favour their friends in the south east thereby leaving majority of the populace unattended to.
Inadequate Development: There were deliberate efforts to deny south east of some key development that will induce investment, saving and consumption. Important federal roads were left in sorry state for decades. Many industries that were built under Dr. Michael Okpara were deliberately allowed to shutdown .2nd Niger Bridge has been in the drawing board for decades, though completed two years ago .Electricity, Water, Sewage projects etc were all abandoned causing more hardship to most households in South east.
Tax Evasion: Lack of reliable data has created a skewed and distorted distribution of tax liability that has created exit window for the rich. However, the system has empowered the rich and made the poor vulnerable. It is truism that the rich doesn’t pay tax in the South Eastern part of Nigeria and this has created an economic imbalance that rewards bad behavior and discourages good behavior. A good tax system should meet the following criteria; administrative ease, transparency, simplicity, adequacy and fairness. In South east, only less than 5% of the entire population control the supply of housing needs of the people and this signifies poor tax system.
Inequitable Distribution of the factors of Production: Inequalities of income and wealth result from inequitable distribution of the means of production. The major means of production in South east is capital. Capital is exclusive reserve of the rich and politicians while there is no institutional framework to ensure that people have equal chances of accessing capital at affordable rate for production. The privileged economic and political elites have access to capital and have used the window to accumulate so much wealth while the working class and lower class have no such opportunities. Nigeria Banking system has made borrowing an exclusive commodity for special class, hence the gap in the supply of money. The cost of money, even when available, is too high that it kills production initiatives. The second important means of production is Land. In Thailand, Canada, Brazil etc, land is made easily available to anybody who wants to go into farming or production by Government . But, in the South east, Government is not interested in providing this means of production. In Anambra State for instance, several organizations like Good Governance Multi-purpose Cooperative Society ltd has written a letter to Government requesting for Agricultural land to facilitate food production and assist in reducing unemployment rate in the State but State Government through Commissioner for Land advised the Cooperative to hold on as Government has not acquired farmland from community . However, it should be noted that there is no deliberate public policy to encourage food production in the entire South East like Dr. Michael Okpara did during his own time. A viable Agricultural model has the capacity of employing millions of young men and women .Sadly, in the south east, there is no provision for long term borrowing at affordable rate to fund small and medium enterprises as well as food production initiatives.
Unemployment and Underemployment: For decades, there is no deliberate effort to create job opportunities in large scale at sustainable basis in south east. All the economic revolutionary programs initiated by Dr. Michael Okpara before the civil war were all destroyed either by federal government policies or corruption at the State level . Of course, jobs cannot be created in a consumption driven economy. More than 80% of both public and private jobs in the eastern Nigeria do not pay competitive salaries, in other words, their workers are underpaid and abysmally motivated. – In the entire South Eastern Nigeria, unemployment is soaring very high because of lack critical infrastructure like strategic roads, constant power and public water supply needed to create jobs. This failure to create economic opportunities by the government despite several promises has widened the income inequality among the people in the Region. With the high rate of youth unemployment, all manner of crimes such as the activities of kidnapping and other vices were to be expected. Young people are hopeless and economically stranded and that is why those with violent intentions can easily employ them. It is a known fact that despite the healthy growth of the economy in the last five years, unemployment has been rising alongside the increased incidence of poverty. Armed robbery, kidnapping, gangsterism and other vices are not unrelated to the high rate of unemployment across the South Eastern Nigeria. No sane Society can afford to have millions of unemployed youths with no deliberate plan to encourage production. This army of the unemployed can become a nuisance to society. It is a time bomb that must be diffused. It is sad and disheartening to see sound graduates of engineering, physics, mathematics being unemployed for about eight years after graduation from even our first generation universities or to see them selling recharge cards. Millions of Graduates working in south east are underemployed .An average graduate working in Government office earns less than N50,000 monthly while those in private companies make less than N30,000 monthly .
Low Productivity: Low productivity keeps the income levels of the people low. A worker with low productivity cannot earn more and thus remains poor. And the gap between the rich and the poor continues to widen because the rich has been able to increase their income continuously. Production started nose- diving after the civil war. Every effort was made to discourage production. The reward system was too poor that people prefer idling their time to being productive. Out of school graduates would have loved to be productive and earn a living in the south east but the wage system and the value of local currency are most disappointing and discouraging .In UK, a graduate from south east work for 12 hours per day because of value of pounds and favourable reward system as well as good working conditions and friendly environment. Low productivity is deliberate effort to keep the poor in vicious web of poverty.
Lack of Quality Education: A Quality education cure ignorance and promotes sound and rational reasoning .Over the past four decades, the quality of education in the south east has greatly deteriorated that institutions have continued to produce certificate tigers. Our university Graduates cannot use their education to solve societal problems or facilitate production in the eastern Nigeria.
Non Provision of social security system: Social Security is the protection that Government provides to individuals and households to ensure access to health care and to guarantee income security, particulars in cases of old age, unemployment, sickness, invalidity, work injury, maternity or loss of a breadwinner. When there is no provision for social security, income inequality widening with its attendant consequences.
Poor Reward and Sanction System: A good reward system encourages a competitive working environment, increases output and high performance. While poor reward system gives dissatisfaction, discourages hard work and creates low productivity and low motivation. In south east, low reward system has made many government offices begging centers, others at privileged positions have use their offices to extort money from the public. No Government in south east can effectively fight corruption in both civil and public services without an encouraging reward system .Government will have the moral right to sanction bad behavior if the welfare of her workforces are taken care of. In other words, a fair reward system will attract a corresponding sanction for any wrongdoing .
Implications of economic inequality on insecurity in the Region.
If Dr Michael Okpara revolutionary economic model was meticulously and systematical pursued and sustained by the political class of eastern Nigeria , majority of young men and women during the early 70s who are adults now would have gotten economic and mental stability to reason and make sound decisions and judgment . Dr Okpara vision was to engage the abundant human resources in South east for industrial and agricultural development. The engagement would have kept millions of youths and adults in south eastern Nigeria busy as an idle mind is devil workshop and that is the current situation starring us on our faces today.
It is unfortunate that most people, perhaps political Leaders fail to address the issue of insecurity from economic point of view. A society makes conscious and deliberate efforts to produce good people. It is not about how religious an individual is claiming to be but the ability to differentiate bad from good. The political Leaders have over the past decades created hatred among the people through their divide and rule policy .The State policies have made the people economically handicapped that employment and appointments into public offices are left for highly connected individuals in the south east. Bank loan is exclusive reserve of the rich and the powerful that income gap continues to widen. Decent housing becomes far-fetched while food is luxury. Three basic needs of man viz food, shelter, and health are in short supply to the majority of people in the eastern Nigeria. It is ironical that a region which boosted of being the fasted growing economy in the entire Africa could not feed her populace but had to depend on the North for food supply perhaps at cut throat prices. Sadly, housing supply is in firm control of less than 5% of the population who have made money through government patronages and hardworking entrepreneurs. In health, people had to depend on miracle for survival; human life has become meaningless, hence the presence of miracle centers in the entire south eastern region.
The economic inequality is so obvious that State Actors have lost control of their hold on the citizens. A cursory study of the situation in South East has shown that more than 80% of the entire populace hardly recognize the presence of government and have never benefited anything from government. The implications of this economic inequality could be seen in the following insecurity cases below;
Kidnapping; The skewed distribution of income including juicy federal and state appointment (s) have created a dangerous gap between the rich and poor. Most young people that were involved in kidnapping activities are as a result of economic inequality which have created unemployment, poverty, illiteracy, greed ,poor parentage ,moral decadence. When the society cares for the citizens by providing them with basic needs of life like food, shelter, health, the rate of kidnapping will surely be reduced to minimum level.
Cult Related Crime: Government has created unfavorable economic conditions that struggling for survival has become the order of the day. Powerful Cabals now set up different cult gangs to control government revenue windows thereby creating monsters that will poise as future security challenge. Money rules our society that nobody cares to know the source of wealth of anybody. Chieftaincy titles are given to people with questionable characters, however, the struggle to control the sources of sharing wealth has assumed another dimension by the introduction of occult groups. These groups have contributed to insecurity in south eastern region.
Violent Agitation for Biafra- When the civil war ended on 15th of January 1970, the conditions for surrender have not been kept by Nigeria government till today .The agreement that any future constitutional arrangement will be worked out by the Representatives of the people of Nigeria was disregarded and the present 36 States were arbitrarily created by successive military regimes and not by the representatives of the people as envisaged by the instrument of surrender. Even the pronouncement of 3Rs which is Reconstruction, Reintegration and Reconciliation was never implemented and this had laid the foundation for economic inequality in the eastern Nigeria. The present crop of young people who did not witness the war but read stories of how Biafrans refined crude oil under war conditions ,how they achieved technological advancement during the war and how Nigeria has marginalized them since after the war , took to the street to agitate for a new state of Biafra. Instead of Nigeria using political solution to manage the issue of agitation, military men were redeployed to quench all form of agitations. Military intervention to Biafra agitation is what gave rise to armed struggle in form of guerrilla warfare and this is why sit at home was successful in the last few years.
Drug Addiction- Parents whose primary responsibility are to nurture their children to responsible adulthoods are kept in a rat race-like situation struggling to make both ends meet because of poor economic conditions. Bad parenting can cast a long shadow over a child’s emotional and psychological well-being, hence drug provide safe haven to fill the needed emotional gap. Government failures to provide guaranteed economic prosperity has made most parents to be desperate in search of greener pasture abandoning their primary domestic responsibilities. There is positive relationship between drug and criminality.
Cybercrime (Yahoo-Yahoo) – Lack of economic opportunities has led millions of young people into cybercrime. According to the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede (Punch, 14 Feb 2025): “Nigeria has lost over $500m in one year due to internet fraud. It is no longer just about scamming people .They are now into kidnapping, banditry and ritual killings. Some of our investigations have uncovered horrifying details, including cases where young female victims were used for rituals. If we don’t act decisively, in the next 10 years, we may not have a generation we can confidently hand over this country to” . The firsthand account from Chief Crime Fighter in Nigeria indicating that many of our youths are not meaningfully engaged and something urgent has to be done.
Measures To Solve the Insecurity In South Eastern Region
1. Access to cheap fund- We know that monetary policy is managed by federal government but the south east Governors can use creative means to provide cheap funds for the people of south east .Funding is considered a major challenge of small business promoters which is the engine room of job creation . A State Governor can raise long term and cheap fund from bond market to fund industrial and agricultural villages which will actively engage thousands, if not millions of idle youths. Idle minds breed criminals’ tendencies. South east Governors have abandoned their primary responsibility of intervening in several gaps that have existed in the economy of south east since after the civil war.
2. Access to affordable housing- Shelter is one of basic needs in Maslow hierarchy of need. Sadly, South East Governors have not considered building massive low cost housing for the middle class and lower class in the Region. They have outsourced this physiological needs of young people to exploitative hands of capitalist elements. Deliberate program to provide massive shelter for South Eastern people will restore the dashed hope of many young people and begin to restore their confidence in Government. When people feel sense of security, they will not go the way of crime. A good housing program will attract funding from our people across the globe.
3. Access to cheap food – To achieve this, the Governors of south east should copy Michael Okpara food production strategy. This is not a rocket science even in the face of technological advancement. Organizing the value chain in food production, processing and marketing will keep our youths busy and productive. Hunger can push young people into crime.
4. Access to affordable and stable electricity- Industrialization cannot be possible without guarantee electricity supply at affordable rate. Many factories in the region have shut down because of poor and epileptic electricity supply. Governors can sustain the availability of this critical infrastructure in partnership with private sector. This will ensure massive and sustainable development of the region. Insecurity will be reduced to the barest minimum if people are empowered with economic opportunities. Sincerity of purpose from south east leadership will no doubt fix this critical infrastructure ,reduce cost production and create millions of quality jobs that will keep the people of south east busy and productive.
5. Strict enforcement of law and order:-Corruption in police, other law enforcement agencies and judiciary have discouraged economic growth and investment. This is made worst when the agency that has the constitutional obligation to enforce law is under exclusive list of the constitution. However, a Governor who can mobilize his people to do good and ensure that political power belongs to the people will surely and easily enforce law and order even when the constitution is flawed.
6. Living wage for all fixed income earners- A laborer with any form of education makes an average of N8000 per day amounting to about N250,000 monthly and this is about $150 per month.$150 is what a student makes per a day in USA while minimum wage is average of N40,000 monthly in South east. South East Governors must find creative ways of putting money in the peoples pockets. If performance target on service delivery is set for all workers in public offices and a minimum wage of N300,000 with housing ,car allowances is paid, government will definitely induce consumption , saving and investment .
7. Partner with federal authority to ensure price stability as well as exchange rate stability-Price stability and exchange rate management are macroeconomics goals under the supervision of federal government. Because Nigeria depends majorly on imported goods, any little shock on the exchange rate will affect the purchasing power of naira. South East Governors can as a matter of urgency commence massive investment in the area of Agricultural and industrial villages. South East Governors can organize these sectors in partnership with private sector to achieve a productive environment and this gesture will stabilize local prices .An increase in local production will cushion the effect of high exchange rate. However, partnership will federal government will increase foreign exchange earnings and assist to stabilize exchange rate as well as general market prices and this will create economic prosperity.
8. Insist on true federalism in Nigeria and the need for a competitive regional development. There is no doubt that the present feeding bottle federalism cannot guarantee a fair and competitive economic environment to millions of unemployed and underemployed youths in South Eastern Nigeria. Therefore, to achieve a productive environment, the present ‘unitary’ federalism must be replaced with a competitive system where Regions/ States will be allowed to control their resources and pay tax to the central government.
9. Social Security Benefit- To ensure that the people of south east enjoy the dividend of democracy as well as welfare distribution, State Governments in the south east should execute biometrics social identification registration in partnership with national identity management commission. Already, Abia State Government has started building this important database which will be used to implement objective socio-economic planning and intervention programs. Such interventions will give young people hope that government cares and this will reduce crime to the barest minimum.
Anaenugwu Ndubuisi is a Lecturer in the Department of Economics , Nnamdi Azikiwe University,Awka.
References
Olukoyede O. (2025): “Nigeria has lost over 500million dollars” Punch, Feb 14, 2025 P10
Akalugwu A (2023): “Michael Okpara and the call to selfless service” News diary online, Oct 27, 2023 www.newsdiaryonline.co
In a fiery public statement, prominent Niger Delta leader, Asari-Dokubo, has expressed deep disappointment with President Bola Ahmed Tinubu over what he describes as a “shameless” attempt to take over Rivers State. The outspoken former militant leader accused President Tinubu of conspiring with outgoing Governor Nyesom Wike to manipulate the political landscape in the South-South region, particularly targeting Rivers State.
Asari-Dokubo’s remarks, delivered on March 12, 2025, came as tensions continue to mount regarding political maneuvering in the lead-up to the 2027 general elections. The leader, who has long been an advocate for the rights and autonomy of the Niger Delta people, condemned Tinubu for allegedly taking sides with Wike and attempting to impose political control over the state.
You cannot take over Rivers state to APC,” Asari-Dokubo stated. “The way you’re taking sides with Wike to grab Rivers, did Buhari do what you are doing? I’m ashamed of you.”
The strong criticism centers around Asari-Dokubo’s claim that Tinubu’s actions reflect an ulterior motive driven by political ambitions for the 2027 elections, with the aim of consolidating power in the South-South region at the expense of the people’s interests.
Accusing the President of disregarding the will of Rivers people, Asari-Dokubo asserted, “You want to grab South-South states because of 2027, you don’t care about the people, how they feel, and what they are going through. No matter what you do, we Rivers people, we stand with Fubara and we will take our destiny in our hands.”
His words highlight the growing discontent among many in the region, particularly over perceived political manipulation and the marginalization of the South-South by the central government.
Despite Asari-Dokubo’s harsh criticism, President Tinubu has yet to respond publicly to the allegations. However, the growing tension in Rivers State is set to have significant implications as political campaigns for the 2027 elections intensify. The South-South region, once considered a stronghold for the People’s Democratic Party (PDP), is now facing increasing divisions, with key figures such as Asari-Dokubo openly challenging the central government’s influence in local affairs.
The situation in Rivers continues to unfold, with the public eagerly awaiting the next steps in this escalating political drama.
The sixty-ninth session of the Commission on the Status of Women is currently ongoing at the United Nations Headquarters in New York City, United States of America.
The session, attracted representatives of member states, UN entities and ECOSOC-accredited non-governmental organizations from all regions of the world.
Mrs Obby Owkubanego, a foremost sustainable women empowerment advocate was in attendance and has called for urgent action to bring to bearest minimum issue of gender-based violence, gender inequality across the world especially in Africa.
She harped on the need for countries around the world to invest on girl children education and women empowerment geared towards equipping women with the right tools to succeed and become agents of positive change.
It is expected that the CSW69 will focus on the review and appraisal of the implementation of the Beijing Declaration and platform for Action and outcomes of the 23rd Special Session of the General Assembly.
The review will also capture as assessment of current challenges that affect the implementation of the platform for Action and the achievement of gender equality and the empowerment of women and it’s contribution towards the full realization of 2030 sustainable development goals.
A fresh crisis has erupted in the Lagos State House of Assembly as Speaker Mudashiru Obasa has taken legal action against his former deputy, Mojisola Meranda, over her approval of ₦5 billion for the purchase of 40 luxury SUVs for lawmakers during her brief tenure as Speaker.
Before his impeachment, Mr. Obasa had reportedly planned a ₦7 billion budget for 45 Toyota Fortuner SUVs—40 for lawmakers, one for the house clerk, and four for himself and his two wives. However, Ms. Meranda’s decision to approve the purchase of Land Cruisers instead of Fortuner SUVs disrupted his original plan, leading to mounting tensions in the assembly.
“Obasa had his own plans for purchasing vehicles before his removal,” a source revealed. “Now that he’s back, he wants the ₦5 billion returned so he can execute his initial plan, but the lawmakers are refusing to give up their newly acquired SUVs.”
The development has triggered resistance among lawmakers, many of whom opposed Mr. Obasa’s return as Speaker. They are reportedly standing firm against his demand to return the Land Cruisers in exchange for the Fortuner SUVs he initially intended to buy.
“Mr. Speaker is not letting this matter go and has ordered Meranda and the lawmakers to return the Land Cruisers,” another source stated. “But they are all refusing because they prefer the latest model over the 2020 Fortuner SUVs Obasa had planned to buy.”
As the legal battle unfolds, the Lagos State House of Assembly remains embroiled in controversy, raising concerns about leadership disputes and financial accountability within the legislative body.
Lagos Reporters will continue to provide updates on this unfolding political drama.
The Nigerian naira continued depreciation on Friday at the foreign exchange market to end the week on a negative note.
According to the Central Bank of Nigeria’s exchange rate data, the Naira fell to N1,517.24 on Friday from N1,512.30 exchanged on Thursday.
On a day-to-day basis, this showed that the Naira dropped by N4.94 to the dollar compared to the N1,512.30 exchange rate on Thursday.
Meanwhile, the black market Naira remained flat at N1,580 per dollar, the same rate recorded on Thursday when it had the highest fall from N1520 since past weeks.
In the last five days, the Naira suffered more depreciation except on Tuesday, according to apex bank exchange data.
At the official market, the Naira started the week with N 1,498.98 per dollar and ended at N 1,517.24, CBN’s data showed. This means that at the official market, the Naira lost N18.26, the highest in the past weeks.
Similarly, at the parallel foreign exchange, the kickoff of the week was at N1506 per dollar but closed at N1,580, data from Bureau De Change Operators showed. This indicates that in the black market, the Naira lost N74 against the dollar.
The development comes as Nigeria’s external reserves declined by $1.31 billion, which stood at $38.42 billion on February 28th from $39.72 billion at the end of January 2025.
Senator Natasha Akpoti-Uduaghan has condemned her suspension from the Red Chambers as “an injustice that will not be endured.”
The Peoples Democratic Party (PDP) lawmaker was suspended for six months on Thursday after the Senate disciplinary committee found her guilty of breaching its rules in light of her allegations of sexual harassment against Senate President Godswill Akpabio.
This decision followed the consideration and adoption of the Senate Committee on Ethics, Privileges and Public Petitions’ report, which investigated Akpoti-Uduaghan for her alleged violations of Senate rules.
Senator Akpoti-Uduaghan did not appear before the Senate Committee on Ethics, Privileges, and Public Petitions on Wednesday.
She has also accused Akpabio of publicly humiliating her and blocking her motions and bills on the Senate floor.
Her refusal to accept the new seating arrangement resulted in the Senate President denying her the opportunity to speak during the session.
In response, the Senate referred the issue to its Committee on Ethics, Privileges, and Public Petitions.
At the committee meeting on Wednesday, the Chairman, Senator Neda Imasuen (PDP, Edo South), expressed disappointment over Akpoti-Uduaghan’s absence, stating, “Senator Natasha was duly invited to this meeting. We hope she will join us as we continue.”
“This injustice will not stand,” the Kogi Central Senator declared, vowing to continue her “pursuit of justice.”
Enugu – The Isi-Uzo Local Government Council has clarified the Tuesday protest by some women of Eha-Amufu communities, blaming it on deliberate misinformation and politicisation of security matters in the Local Government Area, LGA, by some political actors.
The Council explained that the recent video of women protesting alleged killings by herders in Eha-Amufu community were propelled by “total misinformation” and not a true reflection of current security realities in Isi-Uzo LGA since Governor Peter Mbah’s assumption of office.
The Council’s position and clarifications were contained in a statement personally issued by the Council Chairman, Barr. Obiora Obeagu, on Wednesday.
Obeagu rued what he described as a callous attempt to dent and enmesh in controversy through acts of misinformation and calculated hate campaigns the many critical infrastructural and development interventions and initiatives by the governor in Eha-Amufu such as the landmark 21.7km Agape-Agu Mgbuji-Ogbete Road, Produce City, deployment of over 100 military and security personnel, plans for permanent security camps, among others.
“Yesterday, Tuesday, 4th March, 2025, I had the opportunity of meeting with the protesting Eha-Ohuala women that came from Eha-Amufu to my office at Isi-Uzo Local Government headquarters, Ikem.
“They made a series of shocking revelations, which clearly showed that their emotions were stirred by false narratives and information by some political actors.
“In particular, despite previous stakeholders’ engagements by the state government, they were misinformed that all cows in Eha-Amufu farm settlement belong to the government, hence the planned ranching project and that the Farm Estate and Produce City projects by the state government was a ploy by the government to take over their lands and hand over to herders from a particular tribe, thus they do not want the government to site any projects in our communities.
“Again, as could be easily deciphered from the trending videos, complaints from the women bordered on the incidents that happened in the farm settlements some years ago and how the government should help them relocate permanently to their farms again,” he stated.
Continuing, he said, “I, therefore, wish to categorically state that the protest that happened on Tuesday was a sponsored protest and political propaganda orchestrated by mischievous elements and enemies of progress, who fed the protesting women with lies and false information for political capital.
“We acknowledge that there was an unfortunate incident of rape on 17th February, 2025. I took up the hospital bills and the woman has been discharged but the narrative of insertion of stick in private part is false.”
“We acknowledge that we have had incidents of farmers/herders clashes across the communities of Isi-Uzo LGA sharing borders with Benue and Ebonyi States dating back to over 15 years.
“However, the Governor Peter Mbah Administration has been working relentlessly with Isi-Uzo Local Government to tackle and put an end to this problem in our farm settlements and other security challenges through far-reaching security interventions, infrastructural development, and agricultural projects such as the Produce Cities, Farm Estates, and other projects to ensure productive use and effective governance of all spaces for socioeconomic growth of the state.
“Contrary to the claims in the protest videos and other false narratives such as the recent sponsored reports to portray killings in Nkalaeha, a neighbouring Ebonyi community, as an incident that happened in Eha-Amufu, the current state administration has gone a long way in restoring order, peace, and security in Eha-Amufu and Isi-Uzo. One of the key testaments is that there is no longer a single Internally Displaced Persons (IDP) camp in the entire Isi-Uzo since a few months after the governor was sworn in. Our people are in their homes, unlike in 2022 when traditional rulers and religious leaders relocated from Eha-Amufu to other towns and cities”.
The Council admonished “those that promote crisis and instigate protest to desist from such actions in their own interest and in the interest of our communities.”
Meanwhile, an Eha-Amufu-based clergy and some political actors named by the women as sponsors of the protests are expected to face investigation by security agencies.
On Wednesday, the Nigerian Senate rejected a sexual harassment petition filed by Senator Natasha Akpoti-Uduaghan against Senate President Godswill Akpabio, following a heated plenary session marked by procedural debates and conflicting viewpoints.
At the outset of the session, Senator Akpoti-Uduaghan stood to present her petition, reading it out loud before handing it to Akpabio, who initially accepted it. However, tensions flared when Senate Chief Whip, Senator Tahir Munguno, questioned the petition’s validity on procedural grounds.
Referencing Order 40(4) of the Senate rules, Munguno cautioned that deviating from established procedures could result in “chaos and anarchy.” He claimed the petition was procedurally flawed, asserting that Senate rules prohibit a senator from signing and submitting their own petition. “Senator Natasha signed her own petition, which renders it invalid,” he stated.
In response, Akpoti-Uduaghan clarified that her legal case was not about sexual harassment but was instead concerned with defamatory comments regarding her attire. She invoked Order 10, allowing any senator to speak at any time, and insisted that her petition deserved consideration.
Former Senate Leader Abdullahi Adamu tried to de-escalate the situation by suggesting that since Akpabio had already accepted the petition, it ought to be forwarded to the Senate Committee on Ethics, Privileges, and Code of Conduct for review. However, this proposal further divided opinions, resulting in a flurry of points of order and a brief uproar in the chamber.
Senate Leader Opeyemi Bamidele weighed in, reiterating that no senator can author and sign their own petition. He also highlighted that the issue was already before the courts, as Akpabio’s wife had initiated legal proceedings, placing it sub judice and outside the Senate’s jurisdiction.
“Mr. President, I sympathise with you as a man facing accusations of sexual harassment,” Bamidele said. “However, we must adhere to the Constitution and our Rule Book, rather than our emotions. You accepted the petition based on sentiment, but we must uphold due process.”
In his defence, Akpabio clarified that his decision to accept the petition stemmed from a desire to avoid creating the impression that he was attempting to silence Akpoti-Uduaghan due to personal implications in the matter.
“I accepted that petition because I didn’t want people to think I was deliberately suppressing her,” Akpabio explained.
Despite calls for a closed-door session, Akpabio ruled that the plenary should continue. Ultimately, the Senate backed the Senate Leader’s argument and rejected the petition, bringing this contentious issue to a close—at least within the legislative chamber.
Senator, Florence Ita-Giwa, has faulted Senator Natasha Akpoti-Uduaghan’s sexua| harassment claim, saying once women become senators, they can’t be sexually harassed.
According to her, it is a sign of weakness to come out as a Senator to say you were sexually harrassed.
Recall that last Friday, Senator Akpoti-Uduaghan was on Arise TV where she accused Senate President, Godswill Akpabio, of maligning her and blocking any motion she submits because she has refused to give in to his sexual advances.
Reacting to Natasha’s allegation, Senator Ita-Giwa while speaking on Arise TV this morning, said women can’t claim to be sexually harassed when they are elected into the Senate.
In her words
“By the time you contest elections and get to Senate, you have passed that stage of your life of being sexually harassed. You go there to serve, and you are all equal in that place. And again, it shows weakness; you don’t allow it. It (sexual harassment) can not happen in the Senate.
I am not saying the lady is lying, but when you get to the Senate, you’re there as a person. You’re not there as a woman.
At that stage in politics, if you come out and say someone is sexually harassing you, it is a weakness.”
When asked if female lawmakers should keep quiet when their colleague sexually harasses them, Ita-Giwa insisted that it is a sign of weakness for female senators to accuse their colleagues of making passes at them.
“On this matter, I am not with Senator Akpoti. It is the worst sign of weakness on a woman’s part to come out and accuse a man of making passes at you at that level,” she said
She maintained that female senators should see themselves as equal lawmakers to their male counterparts because winning senatorial elections is not easy.