The naira made a remarkable comeback against the US dollar at the official foreign exchange market this week, giving traders and businesses a reason to smile.
According to data from the Financial Markets Dealers Quotations (FMDQ), the naira’s value jumped to N1,390.96 per dollar on Tuesday, a significant improvement from N1,419.11 on Monday. That’s a whopping N28.15 gain, or a 1.98 percent increase, making it the first time the naira has appreciated in days.
This sudden boost in the naira’s value is a welcome change for many who have been keeping an eye on the foreign exchange market. It also reflects a positive shift after a week of consistent depreciation against the dollar.
However, while the official forex market saw a gain, the parallel market painted a different picture. The naira took a hit, dropping to N1,360 per dollar on Tuesday, down from N1,280 the previous day. It’s a reminder that the forex market can be as unpredictable as a game of chess, with unexpected moves and turns.
Whether this upward trend for the naira at the official forex market will continue remains to be seen. In the meantime, let’s enjoy this victory for the naira while keeping an eye on what the future holds for the parallel market.
As acute petrol supply challenges enter its second week, independent marketers have explained that issues that led to the scarcity of the product would take another two weeks to be fully resolved.
Checks around Abuja on Sunday showed that most stations were out of stock with very few major marketers dispensing the product in Abuja city centre. At the suburbs, the few stations opened to motorists jacked up their pump price from N680 per litre to N870 per litre.
Speaking to Vanguard on the situation, the Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, IPMAN, Chief Chinedu Ukadike said the product was not available in-country.
Chief Ukadike blamed the acute shortage in supply of importation bottlenecks and the slow pace of marketers licence renewal by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.
He disclosed that only 1,050 marketers out of 15,000 have had their licences renewed by the NMDPRA.
He said: “The situation is that there is no product. Once there is lack of supply or inadequate supply, what you will see is scarcity and queues will emerge at filling stations. On the part of NNPCL, which is the sole supplier of petroleum products in Nigeria, they have attributed the challenge to logistics and vessel problems.
“Once there is breech in the international supply chain, it will have an impact of domestic supply because we depend on import. I also have it good authority that most of the refineries in Europe are undergoing turn around maintenance. So sourcing of petroleum products has become a bit difficult.
“NNPC Group CEO has assured us that there will be improvement in the supply chain because their vessels are arriving. Once that is done, normalcy will return. This is because once the 30 days supply sufficiency distrusted, it takes two to three months to restore it. We expect that by next week or so, NNPC should be able to restore supply and with another one week, normalcy should return”.
The challenges faced by marketers in renewing their licences, he said: “NNPC has said the marketers who have not been able to renew their licences will not be allowed to remain on their portal which has been shut for sometime now. Because of this we have not been able to request for new products.
“At this nascent period of deregulation, you will discover that this leads to scarcity even when the product arrives. As it is now, even by their own data, out of 15,000 marketers that are on the portal with licences, only 1,050 renewed their licences. And the requirement for renewal by NMDPRA is so much. Marketers are facing hostile environment. NNPC placed a deadline of April 15, 2024, for marketers to renew their licences.
“We are therefore appealing to NNPC extend this deadline and also to NMDPRA to hasten the release of marketers licences who have completed their processes, and also reduce the bottlenecks around licence renewals”.
The outgoing Commissioner of Police (CP) in Anambra State, Aderemi Adeoye, has said he is now going fully into business and he is ready to give Africa’s richest man, Aliko Dangote, a run for his money.
Adeoye stated this on Saturday during his ceremonial pull out parade from the Nigeria Police Force at Dr. Alex Ekwueme Square in Awka, Anambra State capital.
According to him, he had been at various police units and formations in Anambra State and performed very well, noting that during those years, he served many police commissioners who recorded outstanding performances.
He said that his long service to the state before becoming a commissioner made him a better commissioner, who was prepared for the position.
He also stated that he had been to various dangerous places without a scare to the glory of God.
“I have been through militancy in Niger Delta, Boko Haram in North-east, fought IPOB militancy in the South East, and I’m glad that I’m alive today. Despite face-to-face gunfire and bombs we encountered, to the glory of God I did not have any scare on me.
“The opportunity of being made Commission of Police in Anambra State was the crowning glory of my career in the police. I came in prepared as the CP of the State,” he said.
Adeoye, while commending the Nigeria Police and Nigerians said he had also prepared himself for retirement days.
“I thank NPF for the opportunity to serve and Nigeria for investing in me through training at home and abroad. I have been privileged to be trained in Ghana, England, Israel, California and more.
“I have served abroad in the United Nations, and this career gave me opportunities for self-development, and these have prepared me for retirement. It’s been a unique privilege serving Anambra.
“I’m proud of my men at Anambra State Police Command. You are gallant, heroic and never giving up. We didn’t achieve anything through individual efforts but with other sister agencies,” he stated.
He said that he founded Alpha Trust Investment Club (ATIC) Limited in 2018 and they started it with a modest sum of N54 million, but the investment was now worth over N20 billion.
He said the club currently has investments worth over 20 Billion, and that as he retired, he would go into business full time, ready to give Dangote a run for his money.
“That will be my full-time business from Wednesday, May 1, when I fully disengage. We have been investing and now we want to go into full-time business and we will in the next 10 years give Dangote a run for his money,” Adeoye said.
He also described Anambra State as a good place with good people, saying that he cannot say any evil against the state and the people.
Earlier, the Anambra State Governor, represented by Deputy Governor, Dr Onyekachi Ibezim, praised Adeoye for his efforts in helping Soludo fight insecurity in the state.
He said: “There’s a time to start and a time to begin and a time to end everything. We knew today would come. The CP came to Anambra and has played his role meritoriously. He came when Soludo was tackling insecurity and people were in the bush fighting lawful citizens.
“Adeoye came in at the same time with his own style and dedication, sincerity of purpose and doggedness and within a short space, Anambra is now calm.
It is not over until it is over and the fight is still sustained.
“If it were in our hands, we would say let this goodman continue because we are happy with his works. A street has been named after him and many awards too. I’m happy to proclaim that you are now a citizen of Anambra. We wish you well in your future endeavours.
Governor of Enugu State, Dr Peter Mbah, has described the recent attack that resulted in the death of four natives in Nimbo as unacceptable to his administration, vowing that enough is enough, as government would track down and bring the attackers to book.
He described the attack as a collective tragedy to the entire state, assuring that the government would work with community and security stakeholders to strengthen security not only in Nimbo, but also the entire Uzo Uwani LGA.
This was even as the Nimbo community called for the strengthening of its Forest Guards and Neigbourhood Watch, stressing that their attackers always came from neighbouring states, taking advantage of the remoteness of their community.
An enraged Mbah spoke during a visit to Nimbo community on Monday, accompanied by the state’s Commissioner of Police, Mr. Kanayo Uzuegbu; State Director, State Security Services, Theresa Egbunu; Garrison Commander, 82 Division, Nigerian Army, Enugu, Brigadier General Murtala Abu; and Coordinator of Enugu State Forest Guards, Matthew Obodoechi.
He said: “Let me assure you that enough is enough. I don’t think that we would allow our hospitality to be taken for granted. We expect people, who have come to mingle with us, to also play by the rules and laws of our land.
“I don’t think that we really do have any reason to exist as government if we cannot guarantee the safety of our people because the primary purpose of government is to guarantee the security and the welfare of its citizens. So, a situation where our people would go to bed with their two eyes open must end. And it must end immediately.
“I want to assure you that we are going to deploy everything within our powers; and I mean everything: the law, the forces, everything that is necessary in order for us to guarantee your security.
“We are truly pained by such dastardly killing by people who trespass, come into the locality of our people, who are living quietly within their environment, and open fire on them. That is inexcusable and unacceptable, and we are going to identify, track these culprits, pursue them wherever they are, capture them, and ensure that we bring them to justice.”
Governor Mbah, who had earlier visited and condoled each of the bereaved families before holding an interactive session with the community leaders and members, promised to work on their recommendations and requests for representation in government and strengthening of their local security resources.
“We have listened to you on the issues you raised about making sure that the people of Nimbo are integrated into government. We are going to do just that. Your voice has been heard.
“I also would want to inform you that we shall not abandon you in this time of need. Going forward, the government will be responsible for the victims who are being treated, including those going back to the orthopaedic hospital. We will bear the cost.
“All the survivors of victims of this dastardly act, we are going to ensure that their suffering is abated. We are going to make sure that the kids do not suffer anymore than they have already suffered by losing a father. We will ensure that they go to school through our scholarships and those who need job, we are going to give them job.
“But more importantly, let it be known that enough is enough, and we will never have to go through this again,” Mbah said.
Meanwhile, speaking on behalf of the community earlier, the President-General of Nimbo, Mr. Clement Akachukwu, said their attackers had preyed on their community for decades due to the remoteness of Nimbo.
While thanking Governor Mbah for his prompt response, he called on the government to strengthen Nimbo Neighbourhood Watch and Forest Guards to complement the security agencies. He called for the inclusion of the community in government appointments, as they had no voice in government.
“You can see for yourself that Nimbo is living at the outskirt of Enugu State. We live directly in the border area, and they come in any time and kill and go back.
“It has repeated itself again and now, not only one person, but four were killed. About two months ago, they kidnapped a number of people, but they were rescued, although the kidnappers escaped. It has been like this for years, even before I was born.
“So, we only need one thing. We have community vigilantes. If only they can be strengthened and if more can be brought and paid well to do the work because we need 24-hour vigilance here. These attackers know all the routes in the villages and bushes so well. We need our local vigilantes to be strengthened because they can match them. The width and length of our farmlands are so massive” Akachukwu stated.
The Political Leaders , Governors, in South East are shameless. They have allowed the Region to degenerate economically, politically and morally. The economic inequality in the south east has widened to the extent that political offices have become most lucrative.
These Governors have deliberately locked all the economic opportunities that would make the young ones independent.
Truth be told , Nigeria Constitution favors central government but it is expected that south east Governors will think outside the boxes in providing Good Governance for a people who have lost confidence in anything Government.
Keke Tricycle has become another viable slave business for the unemployed and under-employed youths in south east. Many people whose businesses suffered setbacks had to seek refuge in tricycle transportation business because of its quick return on investment
.The reason is obvious: Banks including microfinance have seen tricycle operations as a cashcow that has higher and quick return on investment because of available market.
Few days ago , i was on the street to buy some food items . I was held in a serious traffic jam- the entire road was blocked by keke Tricycle. That was when i realized that the number of Keke Tricycle on the road has increased in geometric proportion.
I have previously concluded that any city with higher number of Keke Tricycle is sending one signal – that employment opportunities are limited. Again , because of quick return on investment, financial institutions can always make money available on hire purchase basis.
The experience i had that night in traffic jam made me to start asking questions; how much is keke Tricycle that most young people can afford to buy one in order to join the business of the moment . I was informed that Keke Tricycle is N2,700,000 ( Two million seven hundred thousand naira) . I was dumbfounded! I could not believe myself that people could cough out more than N2million to buy Keke Tricycle. I was further reminded by Keke Operator that microfinance banks give out Keke Tricycle at hire purchase for N3,800,000 with proper documentation and surety.
It is obvious that access to capital is the only reason why our roads in the south east have been taken over by keke tricycle operations. Again, quick return on investment is the factor that encourages lending .
In Anambra State for instance, Government is enjoying the windfall from keke Tricycle operations. Each keke tricycle operator has a unique tax code and is required to pay N15,000 per month amounting to N180,000 per year. After several months of agitation, Soludo Administration brought it down to N8,000 per month ,N96,000 per year . A Keke Operator told me that there are more than 2000 registered keke Tricycle operating in Awka town alone . Do your mathematics!
But , i am worried ! In 21st century, things are done differently. Government determines the direction of economic activities. Agriculture is known to be the highest employer of labour and to solve the problem of food shortage, Government organizes the value chain in food production from the starting point to selling point. Once the value chain is organized and investors can be assured of their investment,the sector will become attractive and viable like Keke Tricycle operations. This is the role of Government. Unfortunately, South East Governors are not providing this needed Leadership. Prof Chukwuma Soludo was a former CBN Governor that should attract special Agricultural intervention.Sadly, i have not seen such intervention neither have i seen any farm settlement developed by the State Government. This is Leadership failure and people have no choice than to operate without Government initiatives .
Ndubuisi Anaenugwu is the Ambassador General of Good Governance Ministry (GGM)
…. congratulates Abia Governor, Otti’s transparency in governance
Pro-Biafran group, Biafra De Facto Customary Government (BDFCG) has strongly condemned what it termey “lackluster approach” of Anambra State Governor, Prof. Chukwuma Soludo, towards addressing the pressing electricity concerns in Anambra state.
The group said despite glaring need for decisive action, the Soludo’s leadership has faltered, leaving Anambra people in the dark.
Giving the verdict in a statement issued by BDFCG Spokesperson, Prosper Odinga, the group said Governor Soludo’s actions have unfortunately not aligned with the best interests of Ndigbo.
It said upon the enormous support he received during his election as the Governor of the State, he has continued to neglect the welfare of the people.
“Last year, Gov Soludo signed an MOU with EEDC regarding 24-hour electricity—a move the Biafra De Facto Customary Government denounced. Today, there is no sign to indicate that he understands the importance of transitioning electricity regulation from the exclusive list to the concurrent list. He has been closely associated with the owners of EEDC, stifling all business initiatives in Anambra State”.
BDFCG said it initially believed that Soludo would represent the political face of Biafraland due to his distinguished tenure in the Central Bank of Nigeria (CBN) and his expertise as a first-class economist, but regretted that the Governor’s recent actions have revealed shortcomings in his leadership abilities, urging all Biafrans to prepare for a day of reckoning.
In light of recent developments, the group congratulated Governor Alex Otti of Abia state for his commitment to transparency and accountability in governance, adding that audit of the state account of the previous administration has unveiled the extent of corruption perpetrated by the former Governors, urging the Governor to uphold the principles of justice and integrity by making the audit findings available to the public.
“It is evident that these individuals are nothing but common criminals who must be held accountable for their actions”.
The statement reads in full:
The Biafra De Facto Customary Government (BDFCG) strongly condemns the lackluster approach of Prof Chukwuma Soludo towards addressing the pressing electricity concerns in Anambra state. Despite the glaring need for decisive action, Prof Soludo’s leadership has faltered, leaving our people in the dark.
Governor Chukwuma Soludo’s actions have unfortunately not aligned with the best interests of Ndigbo. Upon the enormous support he received during his election as the Governor of the State, he has continued to neglect the welfare of the people. Last year, Gov Soludo signed an MOU with EEDC regarding 24-hour electricity—a move the Biafra De Facto Customary Government denounced. Today, there is no sign to indicate that he understands the importance of transitioning electricity regulation from the exclusive list to the concurrent list. He has been closely associated with the owners of EEDC, stifling all business initiatives in Anambra State. The BDFCG initially believed that Soludo would represent the political face of Biafraland due to his distinguished tenure in the Central Bank of Nigeria (CBN) and his expertise as a first-class economist. However, his recent actions have revealed shortcomings in his leadership abilities. The BDFCG urges all Biafrans to prepare for a day of reckoning.
In light of recent developments, the BDFCG extends heartfelt congratulations to Governor Alex Otti of Abia state for his commitment to transparency and accountability in governance. The audit of the State account of the previous administration has unveiled the extent of corruption perpetrated by the former Governors. It is evident that these individuals are nothing but common criminals who must be held accountable for their actions. We urge Alex Otti to uphold the principles of justice and integrity by making the audit findings available to the public.
Furthermore, the Biafra De Facto Customary Government commends Governor Peter Mbah of Enugu state for his swift establishment of the State Electricity Regulatory Commission within a remarkably short period. The transfer of regulatory power from NERC to ESERC signifies a pivotal step towards ending the reign of the oppressive monopolist known as EEDC. The days of exploitation and impunity under EEDC’s control must come to an end, and we stand in solidarity with Governor Mbah’s efforts to ensure a fair and equitable electricity distribution system in Enugu State.
It is imperative to recognize electricity as a fundamental public good that demands government intervention and investment. The BDFCG firmly believes that achieving 24-hour electricity supply at affordable rates is essential for the industrialization and prosperity of Biafraland. We call upon progressive governors in our region to join hands with us in reclaiming control of our land and its vast resources.
We emphasize that stable electricity cannot be guaranteed as long as decisions regarding oil and gas exploration and production remain in the hands of authorities in Abuja. True autonomy and self-determination are prerequisites for achieving our vision of a prosperous and self-sufficient Biafraland.
The Biafra De Facto Customary Government remains resolute in its commitment to championing the interests of our people and advancing our collective aspirations for a brighter future.
Tragedy struck at BrickHall Schools located in the Cadastral Zone B11, Kaura in Abuja, on Wednesday, when a four-year-old pupil, Miguel Ovoke, died during the school’s feeding hours.
According to the death certificate dated April 24, 2024, issued by Excel Specialist Hospital, Abuja, which was sighted by our correspondent, Ovoke was brought to the hospital by his teachers around 11 am in an unconscious state.
The medical report, signed by Dr. Akinwande Ajayi, on behalf of the medical director, indicated that he was brought in, “on account of aspiration on meat while feeding at school.”
The hospital said upon examination, the medical team found that the boy’s pupils were fixed and dilated, with a nonreactive response to light.
His peripheral pulses were said to be “impalpable, blood pressure was unrecordable, and there was no cardiopulmonary activity or respiratory excursions,” the report indicated, noting that all the efforts of the medical team to resuscitate the boy failed.
The report concluded that he was “Brought in Dead.”
The parents of the deceased, suspecting foul play, had contacted a lawyer, Deji Adeyanju, to handle the case on their behalf.
Adeyanju confirmed the development to our correspondent on Thursday.
“We are writing a petition to the state Commissioner of Police on the matter,” the lawyer said.
Miguel Ovoke was said to have been dropped off at school in the morning, only for his mother to receive a call from her husband, said to be currently in Aba for a business transaction, informing her that Miguel’s school had called him to come, according to Adeyanju.
“So the wife quickly rushed to the school, only to find out that Miguel was dead. The school claimed that he had experienced a seizure and died, but she was told by other pupils who saw him dead in the toilet that they had informed the teachers he was having a seizure. However, the teachers told the four-year-old boy to go and ‘sneeze it out’ in the toilet, where he died.
“When the mother requested the CCTV footage, they refused to provide it. However, with the intervention of the Garki DPO, they claimed the CCTV footage had crashed. Only today’s footage crashed, while other CCTVs were working. The footage to show what happened to Miguel is not there, which clearly implies they have wiped it. They even blamed the mother for reporting to the police. As of now, they have failed to report the matter to the police,”.
Attempts to get the reaction of the school authorities as of the time of filing this report yielded no fruit as it had yet to respond to an email sent to its known email address.
Our correspondent also called and sent messages to the Head of School, Gloria Ijezie, to get the school’s reaction. However, these efforts proved abortive as the calls to her line were redirected and the messages sent to her as of press time remained unanswered.
The FCT Public Relations Officer, Josephine Adeh, said the police had begun an investigation into the matter.
“The incident was reported today, April 25, 2024, at the Wuye Divisional Police headquarters. An investigation has commenced and the outcome will be communicated soon.”
The Managing Director and Chief Executive Officer, Gas 360, Emmanuel Uwandu on Friday revealed that over 98,000 Nigerian women die annually from the use of firewood and charcoal.
Uwandu added that about 21,000 women die annually from the usage in the Niger Delta.
He stated this in his keynote presentation during the 20,000 metric tonnes of Liquified Petroleum Gas Depot Project ceremony organised by Windek Energy Limited held at Atabrikang Aquaha Ibeno Local Government Area of Akwa Ibom State.
He revealed further that cooking with firewood and charcoal is equivalent to smoking 20 packages of cigarettes, noting that such is what Nigerian women go through on a daily basis.
Uwandu said, “Cooking with firewood, and charcoal is equivalent to smoking 20 packages of cigarettes For an average smoker that is too much, that is what women in Nigeria have to deal with daily.
“In Nigeria 98, 000 women die annually from the use of firewood and charcoal and across the 774 local governments that translates to about 2,700 deaths annually.
“In Niger Delta alone 21, 000 women die from the use of firewood and charcoal. If we bring that home to Akwa Ibom State 31 Local governments 75 women die every year from the use of firewood and charcoal”.
While noting that cooking with ‘dirty’ fuel is the highest killer, the MD lamented that attention is given to malaria and HIV Aids while nobody is talking about dirty fuel.
“Today, in Nigeria, cooking with dirty fuel is the highest killer of Nigerians but for some reason malaria and HIV get the attention, and nobody talks about cooking with dirty fuel. Globally, 4.6bn dollars was provided to fight against malaria and HIV for Nigeria but clean cooking receives less than 200 million dollars, we have to do more” He stated.
He called on Nigerian governments both at the national and sub-national levels to unlock global opportunities for clean cooking adding that what the global committee wants is to “see clean action plans on policy and support for the government to transform their communities from dirty fuel to clean cooking.”
President of the Actors Guild of Nigeria, Emeka Rollas, has revealed how Junior Pope’s mother refused to believe her son drowned to death.
Recall that the late actor died on April 10 along with four other team members while commuting by water for Adamma Luke’s next film “The Other Side of Life”.
In a recent interview, Emeka Rollas discussed Junior Pope’s Cameroonian mother’s surprise that her son drowned.
“I was with his mother yesterday, and all the rumors online are making her feel that her son was killed. I had to let her know that I was also supposed to be in the boat.”
According to Emeka Rollas, CPR was conducted on Junior Pope immediately, he was brought out of the water after four hours.
“Anybody that said they didn’t perform CPR on Jnr Pope is a liar. He was brought out dead after spending over 4 hours under the water,” he said.
The NSCDC said the suspects were arrested during a recent crackdown on unlicensed private security guards in Awka, the state capital.
The Nigeria Security and Civil Defence Corps (NSCDC) in Anambra State has arrested eight illegal security guards in the state.
The NSCDC Commandant in Anambra State, Olatunde Maku, announced this on Thursday while parading the suspects, according to a statement by the agency’s spokesperson in the state, Edwin Okadigbo, on Friday.
Mr Maku said the suspects were arrested during a recent crackdown on unlicensed private security guards in Awka, the state capital.
The commandant warned operators of illegal private security outfits in Anambra State to desist from the act or facing the consequences.
He maintained that NSCDC, as the regulatory body of the private security guards, will continue to monitor their activities especially considering the rising insecurity in the state.
The arrests were made in response to a tip-off about their activities in addition to the need to sanitize the security industry by clamping down on unlicensed private security companies in the state, he said.
“These suspects were apprehended following a raid carried out earlier on Thursday 25th April, 2024 by operatives of the NSCDC in Awka, Anambra State,” he said.
Mr Maku stressed that the arrest of the suspects was part of the mandate of the NSCDC and vowed to continue delivering on the mandate of the agency in Nigeria under the leadership of Ahmed Abubakar Audi, a professor.
“We are here in continuation of the execution of the NSCDC mandate, and we have not left any stone unturned in discharging our responsibilities,” he said.
Mr Maku gave the names of the suspects as Uche Eze, 34, Patrick Nwoye, 27, and Okafor Chibuike, 21 – all males and working for RSS security outfit.
They also include Kingsley Asuauo, 20, Blessed Mfonu, 22, Ikechukwu Emeka, 21, and Amu Emmanuel, 23, – also males who were providing security services in some unnamed hotels in the state.
The eighth suspect, Tochukwu Chukwuemeka, 27, is an unlicensed member of G7 of the Anambra Vigilante Group security outfit, according to the statement.
Four pump action guns with 16 live cartridges were also recovered from the suspects, the NSCDC said.
“Preliminary investigation revealed that some of the arrested suspects were impersonating the Anambra Vigilante Group while others were hired by hotels to provide security services, despite knowing that the outfits were not licensed or registered,” Mr Maku said.
He stressed that the raid which was still ongoing will help to prevent the proliferation of illegal security outfits and reduce the risk of security breaches and criminal activities in the state.
“With this tough stance, the (NSCDC) command aims to restore sanity in the operations of the private security sector and ensure the safety and security of all Anambra residents.
“This arrest and recovery of weapons is a significant achievement in the effort to reduce crime in the state,” he said.
The NSCDC chief urged residents of the state to report any suspicious activities or illegal private guards’ outfits to the agency for prompt action.
