Hello readers, Inside this post you will find trending important news in Nigeria today, you will find news that are of concern to Politics,Entertainment Economics,Locals and more... We update this page twice daily; morning and evening. CHECK BACK LATER TODAY FOR EVENING UPDATE
![]()
TOP NEWS IN NIGERIA TODAY(MORNING EDITION)
=>President Buhari sacks more DGs -Naij.com
=> Olajumoke Lands Endorsement Deal With Payporte(photos)
![]()
![]()
Payporte said: We are glad to announce the signing of @Olajumoke__o (Bread Seller turned model) as "Face of PayPorte 2016".
We will be featuring Olajumoke on our billboard campaigns through the year 2016.
Most importantly, we will help Olajumoke complete her long abandoned education.SOURCE
=>"Your Birkin Bag Is Fake" - Fan To Linda Ikeji, 'I'm Too Rich To Buy Fake Bag',
![]()
![]()
![]()
![]()
Some fans were always tormenting Linda Ikeji who is fond of posting her shoes and bags collection on Instagram about not having a Birkin bag. A birkin bag is a very expensive and high end designer bag by Hermes.
Linda posted these two pictures of birkin bags she purchased and fans came for her due to the stress it takes to buy a birkin bag as there is usually a long list of clientele and waiting period which could be up to 3 years before a person can purchase one birkin bag. Some have even reported that a person can only buy one birkin bag per year and Kim Kardashian is even reported to have waited years to get a birkin bag.
Putting all this into consideration must have been the reason, some fans were not buying it when she posted pictures of her birkin bags and they called it fake.
These Updates Are Brought To You By Apata Bayode Follow Him On Twitter Here
TOP NEWS IN NIGERIA TODAY(MORNING EDITION)
=>President Buhari sacks more DGs -Naij.com
Yet again, the federal government has sacked the heads of 24 federal agencies and parastatals. The sacking of the DGs was made known by Babachir Lawal, the secretary to the government of the federations. FG had earlier announced the sack of the heads of the six information-related parastatals under the ministry of information and culture. The affected agencies includes, Nigerian Television Authority (NTA), Federal Radio Corporation of Nigeria (FRCN), Voice of Nigeria (VON), News Agency of Nigeria (NAN), National Broadcasting Commission (NBC), Petroleum Technology Development Fund (PTDF), New Partnership for Africa’s Development (NEPAD), Nigeria Social Insurance Trust Fund (NSITF). READ ALSO: EFCC investigating 7 army generals over arms scandal Others are: Nigerian Content Development and Monitoring Board(NCDMB), Federal Mortgage Bank of Nigeria (FMBN), Tertiary Education Trust Fund (TETFund), National Information Technology Development Agency (NITDA), Petroleum Equalization Fund, Nigeria Railways Corporation (NRC), Bureau of Public Procurements (BPP), Bureau of Public Enterprises (BPE). Petroleum Products Pricing Regulatory Agency (PPPRA) Standard Organization of Nigeria (SON), National Agency for Food and Drugs Administration and Control (NAFDAC), Nigeria Investment Promotion Council (NIPC), Bank of Industry (BoI), National Centre for Women Development (NCWD), National Orientation Agency (NOA), Industrial Training Fund (ITF), Nigerian Export-Import Bank, National Agency for Prohibition of Traffic In Persons and Other Related Matters (NAPTIP).
READ FULL NEWS
=>See photos of the Nigerian made cars spotted in the Senate-Naij.com
![Innoson motors cars Senate]()
The local car manufacturers, Innoson motors cars were spotted at the senate car park of the National Assembly on Monday, February 15. The cars spotted at the car park were six in number which include a jeep, a van and other salon vehicles. At the Made in Aba trade fair which took place at Area 11, Garki Abuja on Monday, February 8, Cornel Osigwe, the Spokesman of Innoson Motors revealed that the company would try to get the National Assembly to acquire its cars as its official car. “Government’s recognition of Innoson and the likes, will act as an endorsement for the brand. “It can also boost patronage from Nigeria and other African countries,” he said. READ ALSO: Photo and video of Saraki at the Made in Aba trade fair The patronage granted by the National Assembly is to promote locally made products in Nigeria as part of plans to diversify the economy. The trade fair was facilitated by Senator Ehinnaya Abaribe representing Abia south senatorial district, who Saraki eulogised for his foresight in organising the event. The NASS correspondent at Naij.com were able to take spme pictures of the vehicles. See more pictures below.
![Nigerian made cars in Senate]()
![Nigerian made cars in Senate]()
![Nigerian made cars in Senate]()
SOURCE
=>David Mark raises alarm over a plot to assassinate him-PremiumTimes
=>Biafrans to wield weapons from Wednesday in self defense-Naij.com
The Indigenous People of Biafra (IPOB) members have resolved to start carrying guns in self-defence from Wednesday, February 17, 2016. According to Igberetvnews, this disclosure was made by the Emma Nmezu, group’s spokesperson in Umuahia yesterday, adding that failure to carry arms had exposed its members to attacks and killings by security agents. The statement read: “Now, we have come to the painful but irreversible conclusion and determination to take our fate and destiny in our own hands. Starting from Wednesday, February 17, 2016, ‘Biafrans’ will now be in the mode of self defence as enshrined by the relevant acts and declarations of the United Nations. “Let no country or world leader attempt to tag us as terrorists because we are not terrorists, rather we are fighting for our survival and from being exterminated from the surface of the earth. “We shall defend ourselves with everything and anything necessary to avoid the continual killing of our mothers, fathers, and children. This is the time for all Biafrans to rise and defend themselves. We cannot fold our arms and watch them kill us the second time after killing over two million of us in 1968.” IPOB had in a statement last year September alerted the world on plans to provoke Biafrans into retaliation but got a tag of terrorist organization in return. Meanwhile, Chris Adimora, the chairman of Anaocha branch of the NBA, commented on the repeating denial of bail to the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. Adimora shared his thoughts and observation with newsmen in his Onitsha office on Friday, February 12 thus: “The reasons adduced by the prosecution for refusing Kanu bail is not tenable. He did not commit any offence by having dual citizenship. He can’t be refused bail because his charges are still mere allegation which are not yet proven.”
SOURCE
=>Suspected Boko Haram terrorists caught, 112 people rescued -Punch
![Troops demining of a section of the road between Kirawa Junction to Pulka]()
![Some rescued pesons and their personal effects]()
![Some of the persons rescued from Boko Haram]()
The cordial relationship between Nigeria and neighbouring countries in the fight against Boko Haram is yielding fruitful result. The commander of Cameroonian 1st Battalion has handed over two suspected Boko Haram terrorists to Nigerian troops. Share on Facebook Share on Twitter Troops demining of a section of the road between Kirawa Junction to Pulka Troops demining of a section of the road between Kirawa Junction to Pulka The commander, who paid a courtesy call on his counterpart, the Commanding Officer of 121 Task Force Battalion in Pulka, assisted in demining of a section of the road between Kirawa Junction to Pulka. READ ALSO: Boko Haram: We are bringing the war to conclusion – army Eight men, 36 women and 68 children were also rescued in the area. Share on Facebook Share on Twitter Some rescued pesons and their personal effects Some rescued pesons and their personal effects This was disclosed by Colonel Sani Kukasheka Usman, the acting director army public relations. However, one of the visiting unit’s vehicle ran into an Improvised Explosive Device (IED), buried along Pulka-Ngoshe road. A Cameroonian officer lost his life while eight soldiers sustained injuries. Share on Facebook Share on Twitter Mine clearance by the troops Mine clearance by the troops “Also, troops of 113 Battalion on patrol to Ngwala cleared Boko Haram terrorists’ camps at Ngorta and Aritimie villages. “The troops also came across the terrorists market at the area. However, on sighting the troops the suspected Boko Haram terrorists ran and abandoned their supplies. “The patrol also conducted cordon and search operations around Ngwala and recovered 2 pick up vehicles and 12 motorcycles belonging to the fleeing Boko Haram terrorists. The market has been closed indefinitely,” Usman disclosed. Share on Facebook Share on Twitter Some of the persons rescued from Boko Haram Some of the persons rescued from Boko Haram According to him, the troops are more determined to destroy Boko Haram terrorists and clear them from wherever they may be in the north eastern part of our country. Two days ago, Usman had said the army was making tremendous progress in the fight against insurgency. He disclosed how Boko Haram enclaves were cleared, five IEDs detonated by the troops and an IED manufacturing workshop destroyed. Some days earlier, Cameroon soldiers killed at least 27 Boko Haram fighters after launching a cross-border operation in the Nigerian locality of Goshi.READ FULL NEWS
=>Court appearance: Tompolo still on the run -Punchn—Tribune
The Nigerian police force have deployed officers in Bayelsa state to arrest the former Niger Delta militant leader, Government Ekpemupolo, popularly known as Tompolo. READ ALSO: Photo: Tompolo congratulates Udom,Okowa, Ikpeazu According to The Punch, Solomon Arase, the inspector general of police, had ordered the Bayelsa state police command to carry out Tompolo’s arrest in compliance with the order of the Federal High Court, Lagos. Bisi Kolawole, the public relations officer, confirmed that the IG had directed officers to apprehend Tompolo, who has also been declared wanted by the Economic and Financial Crimes Commission (EFCC). Justice Ibrahim Buba of the Federal High Court had ordered the arrest of the former militant leader for his failure to appear before him to answer 40 counts on an alleged N45.9bn fraud. The EFCC had charged Tompolo and a former director general of the Nigerian Maritime Administration and Safety Agency, Patrick Akpobolokemi, alongside eight others with a N45.9bn fraud. The police spokesperson stated that the force would do everything possible to arrest Tompolo in compliance with the bench warrant issued by the court. Meanwhile, with four days to the February 19 date given by the Federal High Court sitting in Lagos to the nation’s security agencies to produce the former militant leader, there is no clue as to his whereabouts, Vanguard reports. His Ijaw relatives also are not ready to give up the former militant leader, who the people of Gbaramatu-Ijaw in Warri South-West local government area of Delta state regard in very high esteem. A royal father, who spoke on condition of anonymity, said: “No Gbaramatu man will reveal the hideout of Tompolo to any security man even if he knows, unless that person does not have a true Ijaw blood flowing in him.”
=>See photos of the Nigerian made cars spotted in the Senate-Naij.com
The local car manufacturers, Innoson motors cars were spotted at the senate car park of the National Assembly on Monday, February 15. The cars spotted at the car park were six in number which include a jeep, a van and other salon vehicles. At the Made in Aba trade fair which took place at Area 11, Garki Abuja on Monday, February 8, Cornel Osigwe, the Spokesman of Innoson Motors revealed that the company would try to get the National Assembly to acquire its cars as its official car. “Government’s recognition of Innoson and the likes, will act as an endorsement for the brand. “It can also boost patronage from Nigeria and other African countries,” he said. READ ALSO: Photo and video of Saraki at the Made in Aba trade fair The patronage granted by the National Assembly is to promote locally made products in Nigeria as part of plans to diversify the economy. The trade fair was facilitated by Senator Ehinnaya Abaribe representing Abia south senatorial district, who Saraki eulogised for his foresight in organising the event. The NASS correspondent at Naij.com were able to take spme pictures of the vehicles. See more pictures below.
SOURCE
=>David Mark raises alarm over a plot to assassinate him-PremiumTimes
David Mark, a former president of the Senate, has raised alarm over alleged plot by Benson Abounu, the deputy
governor of Benue state, and some APC chieftains to assassinate him – The former Senate president alleged that Daniel Onjeh, the APC candidate for the election, in connivance with the deputy governor, had hired cultists to unleash terror in the district – Mark petitioned Solomon Arase, the Inspector General of Police Share on Facebook Share on Twitter Idoma Youths Drums Support For Onjeh, Slams Mark ahead of 2016 Benue South David Mark has petitioned the Inspector-General of Police, Solomon Arase. David Mark, a former president of the Senate, has raised alarm over alleged plot by Benson Abounu, the deputy governor of Benue state, and some chieftains of the All Progressives Congress (APC) to assassinate him ahead of Saturday’s rerun in the southern senatorial district. Premium Times reports that Mark made a statement by his media aide, Paul Mumeh, on Monday, February 15. The former Senate president alleged that Daniel Onjeh, the APC candidate for the election, through his campaign Director, Okpokwu Ogenyi, in connivance with the deputy governor, had hired cultists to unleash terror in the district and in the process eliminate him. According to the statement, the cultists allegedly hired for the assassination include the notorious supreme Vikings squad from Jos, Plateau state and the dreaded Black Axe in Makurdi, the Benue state capital. READ ALSO: David Mark writes APC chairman, John Oyegun, read why Mark had already petitioned Solomon Arase, the Inspector General of Police, and informed him of the plot by the APC stalwarts in the state to assassinate him. In a petition signed by his counsel, Ken Ikonne, the former Senate president
READ FULL NEWSgovernor of Benue state, and some APC chieftains to assassinate him – The former Senate president alleged that Daniel Onjeh, the APC candidate for the election, in connivance with the deputy governor, had hired cultists to unleash terror in the district – Mark petitioned Solomon Arase, the Inspector General of Police Share on Facebook Share on Twitter Idoma Youths Drums Support For Onjeh, Slams Mark ahead of 2016 Benue South David Mark has petitioned the Inspector-General of Police, Solomon Arase. David Mark, a former president of the Senate, has raised alarm over alleged plot by Benson Abounu, the deputy governor of Benue state, and some chieftains of the All Progressives Congress (APC) to assassinate him ahead of Saturday’s rerun in the southern senatorial district. Premium Times reports that Mark made a statement by his media aide, Paul Mumeh, on Monday, February 15. The former Senate president alleged that Daniel Onjeh, the APC candidate for the election, through his campaign Director, Okpokwu Ogenyi, in connivance with the deputy governor, had hired cultists to unleash terror in the district and in the process eliminate him. According to the statement, the cultists allegedly hired for the assassination include the notorious supreme Vikings squad from Jos, Plateau state and the dreaded Black Axe in Makurdi, the Benue state capital. READ ALSO: David Mark writes APC chairman, John Oyegun, read why Mark had already petitioned Solomon Arase, the Inspector General of Police, and informed him of the plot by the APC stalwarts in the state to assassinate him. In a petition signed by his counsel, Ken Ikonne, the former Senate president
=>Biafrans to wield weapons from Wednesday in self defense-Naij.com
The Indigenous People of Biafra (IPOB) members have resolved to start carrying guns in self-defence from Wednesday, February 17, 2016. According to Igberetvnews, this disclosure was made by the Emma Nmezu, group’s spokesperson in Umuahia yesterday, adding that failure to carry arms had exposed its members to attacks and killings by security agents. The statement read: “Now, we have come to the painful but irreversible conclusion and determination to take our fate and destiny in our own hands. Starting from Wednesday, February 17, 2016, ‘Biafrans’ will now be in the mode of self defence as enshrined by the relevant acts and declarations of the United Nations. “Let no country or world leader attempt to tag us as terrorists because we are not terrorists, rather we are fighting for our survival and from being exterminated from the surface of the earth. “We shall defend ourselves with everything and anything necessary to avoid the continual killing of our mothers, fathers, and children. This is the time for all Biafrans to rise and defend themselves. We cannot fold our arms and watch them kill us the second time after killing over two million of us in 1968.” IPOB had in a statement last year September alerted the world on plans to provoke Biafrans into retaliation but got a tag of terrorist organization in return. Meanwhile, Chris Adimora, the chairman of Anaocha branch of the NBA, commented on the repeating denial of bail to the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. Adimora shared his thoughts and observation with newsmen in his Onitsha office on Friday, February 12 thus: “The reasons adduced by the prosecution for refusing Kanu bail is not tenable. He did not commit any offence by having dual citizenship. He can’t be refused bail because his charges are still mere allegation which are not yet proven.”
SOURCE
The cordial relationship between Nigeria and neighbouring countries in the fight against Boko Haram is yielding fruitful result. The commander of Cameroonian 1st Battalion has handed over two suspected Boko Haram terrorists to Nigerian troops. Share on Facebook Share on Twitter Troops demining of a section of the road between Kirawa Junction to Pulka Troops demining of a section of the road between Kirawa Junction to Pulka The commander, who paid a courtesy call on his counterpart, the Commanding Officer of 121 Task Force Battalion in Pulka, assisted in demining of a section of the road between Kirawa Junction to Pulka. READ ALSO: Boko Haram: We are bringing the war to conclusion – army Eight men, 36 women and 68 children were also rescued in the area. Share on Facebook Share on Twitter Some rescued pesons and their personal effects Some rescued pesons and their personal effects This was disclosed by Colonel Sani Kukasheka Usman, the acting director army public relations. However, one of the visiting unit’s vehicle ran into an Improvised Explosive Device (IED), buried along Pulka-Ngoshe road. A Cameroonian officer lost his life while eight soldiers sustained injuries. Share on Facebook Share on Twitter Mine clearance by the troops Mine clearance by the troops “Also, troops of 113 Battalion on patrol to Ngwala cleared Boko Haram terrorists’ camps at Ngorta and Aritimie villages. “The troops also came across the terrorists market at the area. However, on sighting the troops the suspected Boko Haram terrorists ran and abandoned their supplies. “The patrol also conducted cordon and search operations around Ngwala and recovered 2 pick up vehicles and 12 motorcycles belonging to the fleeing Boko Haram terrorists. The market has been closed indefinitely,” Usman disclosed. Share on Facebook Share on Twitter Some of the persons rescued from Boko Haram Some of the persons rescued from Boko Haram According to him, the troops are more determined to destroy Boko Haram terrorists and clear them from wherever they may be in the north eastern part of our country. Two days ago, Usman had said the army was making tremendous progress in the fight against insurgency. He disclosed how Boko Haram enclaves were cleared, five IEDs detonated by the troops and an IED manufacturing workshop destroyed. Some days earlier, Cameroon soldiers killed at least 27 Boko Haram fighters after launching a cross-border operation in the Nigerian locality of Goshi.
=>Court appearance: Tompolo still on the run -Punchn—Tribune
The Nigerian police force have deployed officers in Bayelsa state to arrest the former Niger Delta militant leader, Government Ekpemupolo, popularly known as Tompolo. READ ALSO: Photo: Tompolo congratulates Udom,Okowa, Ikpeazu According to The Punch, Solomon Arase, the inspector general of police, had ordered the Bayelsa state police command to carry out Tompolo’s arrest in compliance with the order of the Federal High Court, Lagos. Bisi Kolawole, the public relations officer, confirmed that the IG had directed officers to apprehend Tompolo, who has also been declared wanted by the Economic and Financial Crimes Commission (EFCC). Justice Ibrahim Buba of the Federal High Court had ordered the arrest of the former militant leader for his failure to appear before him to answer 40 counts on an alleged N45.9bn fraud. The EFCC had charged Tompolo and a former director general of the Nigerian Maritime Administration and Safety Agency, Patrick Akpobolokemi, alongside eight others with a N45.9bn fraud. The police spokesperson stated that the force would do everything possible to arrest Tompolo in compliance with the bench warrant issued by the court. Meanwhile, with four days to the February 19 date given by the Federal High Court sitting in Lagos to the nation’s security agencies to produce the former militant leader, there is no clue as to his whereabouts, Vanguard reports. His Ijaw relatives also are not ready to give up the former militant leader, who the people of Gbaramatu-Ijaw in Warri South-West local government area of Delta state regard in very high esteem. A royal father, who spoke on condition of anonymity, said: “No Gbaramatu man will reveal the hideout of Tompolo to any security man even if he knows, unless that person does not have a true Ijaw blood flowing in him.”
SOURCE
=>Obasanjo Awarded $841.6m Rail Project Without MOU And El-Rufai Signed It – Chinese Firm - Punch
The Project Manager of a Chinese civil engineering and construction company, Etim Abak, on Monday told the Senate Committee on the Federal Capital Territory that former President Olusegun Obasanjo awarded the Abuja Rail Project in 2007 without an engineering design or a Memorandum of Understanding.
The Minister of FCT and current governor of Kaduna State, Mallam Nasir el-Rufai, allegedly signed the $841.645,898m contract based on an uncalculated estimate.
The committee was also told that the contract, which was for 60.67-kilometre rail project, was inflated by $10m per km and that the length was later reduced to 45km without refund of the cost for the 15.67 km that was dropped off from the project.
The Senate committee, led by Dino Melaye, who were at the site of the project to carry out oversight functions, therefore, demanded the refund of $195,878,296.74 being the amount for the 15.67km that was cut out, from the Chinese firm handling the project.
Abak told senators that the contract was signed by the then FCT minister without design and MoU, and that it was carried out based on conceptual design.
Abak said, “The contract was awarded based on conceptual design and estimates were not properly done. There was no formal design submitted and rail bridges and crossover bridges were not captured in the contract.”
Melaye said his findings revealed that the rail project was inflated by over $10m per km and wondered why such an act was perpetrated by the handlers of the project.
The senator added that the contract sum was $841.645,898m and that the project completion period was 48 months while the scope of work was 60.67km standard gauge, with double railway tracks and associated permanent way within the FCT.
He wondered why the 60.67km project was later reduced to 45. 245km without reduction in its cost.
=>Obasanjo Awarded $841.6m Rail Project Without MOU And El-Rufai Signed It – Chinese Firm - Punch
The Project Manager of a Chinese civil engineering and construction company, Etim Abak, on Monday told the Senate Committee on the Federal Capital Territory that former President Olusegun Obasanjo awarded the Abuja Rail Project in 2007 without an engineering design or a Memorandum of Understanding.
The Minister of FCT and current governor of Kaduna State, Mallam Nasir el-Rufai, allegedly signed the $841.645,898m contract based on an uncalculated estimate.
The committee was also told that the contract, which was for 60.67-kilometre rail project, was inflated by $10m per km and that the length was later reduced to 45km without refund of the cost for the 15.67 km that was dropped off from the project.
The Senate committee, led by Dino Melaye, who were at the site of the project to carry out oversight functions, therefore, demanded the refund of $195,878,296.74 being the amount for the 15.67km that was cut out, from the Chinese firm handling the project.
Abak told senators that the contract was signed by the then FCT minister without design and MoU, and that it was carried out based on conceptual design.
Abak said, “The contract was awarded based on conceptual design and estimates were not properly done. There was no formal design submitted and rail bridges and crossover bridges were not captured in the contract.”
Melaye said his findings revealed that the rail project was inflated by over $10m per km and wondered why such an act was perpetrated by the handlers of the project.
The senator added that the contract sum was $841.645,898m and that the project completion period was 48 months while the scope of work was 60.67km standard gauge, with double railway tracks and associated permanent way within the FCT.
He wondered why the 60.67km project was later reduced to 45. 245km without reduction in its cost.
READ FULL NEWS
=>Naira Falls To N345/$ In Parallel Market- Vanguard
LAGOS — The naira, yesterday, suffered its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the parallel market.
This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the official interbank foreign exchange market as the interbank rate stood at N197.47 per dollar at the close of business, yesterday.
The naira also depreciated by N45 against the British pound as the parallel market exchange rate rose to N485 per pound, yesterday, from N340 on Friday. Bureaux de Change sources, who confirmed the development to Vanguard, attributed the sharp depreciation to persistent scarcity of the dollar and pound sterling in the market.
According to an Abuja-based BDC operator, who spoke on condition of anonymity, “the market is experiencing huge demand for dollars but there is no supply. Even those who have dollars are not willing to sell. The way things are going, the rate might reach N350 per dollar before it stabilises.” This development widened the gap between the interbank rate and the parallel market rate to N147.53 per dollar from N127.53 per dollar last week.
The naira has been on steady decline since January 12, 2016, when the Central Bank of Nigeria, CBN, stopped weekly dollar sale to BDCs. Prior to this action, the naira traded at N265 per dollar in the parallel market. Consequently, the naira has depreciated by N80 in the parallel market since the CBN took the action.
The steady depreciation was also aggravated by inability of the CBN to meet foreign exchange demand. Vanguard investigations reveal that the parallel market is being bedevilled by demand for foreign exchange from importers of the 41 items excluded from the official market by CBN last year as well as importers of items not excluded from the official market.
=>Naira Falls To N345/$ In Parallel Market- Vanguard
LAGOS — The naira, yesterday, suffered its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the parallel market.
This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the official interbank foreign exchange market as the interbank rate stood at N197.47 per dollar at the close of business, yesterday.
The naira also depreciated by N45 against the British pound as the parallel market exchange rate rose to N485 per pound, yesterday, from N340 on Friday. Bureaux de Change sources, who confirmed the development to Vanguard, attributed the sharp depreciation to persistent scarcity of the dollar and pound sterling in the market.
According to an Abuja-based BDC operator, who spoke on condition of anonymity, “the market is experiencing huge demand for dollars but there is no supply. Even those who have dollars are not willing to sell. The way things are going, the rate might reach N350 per dollar before it stabilises.” This development widened the gap between the interbank rate and the parallel market rate to N147.53 per dollar from N127.53 per dollar last week.
The naira has been on steady decline since January 12, 2016, when the Central Bank of Nigeria, CBN, stopped weekly dollar sale to BDCs. Prior to this action, the naira traded at N265 per dollar in the parallel market. Consequently, the naira has depreciated by N80 in the parallel market since the CBN took the action.
The steady depreciation was also aggravated by inability of the CBN to meet foreign exchange demand. Vanguard investigations reveal that the parallel market is being bedevilled by demand for foreign exchange from importers of the 41 items excluded from the official market by CBN last year as well as importers of items not excluded from the official market.
READ FULL NEWS
=> Sacked Director-General In Trouble For Blowing N200b On PDP's Campaign - The Nation - Vanguard
EFCC, ICPC to quiz ex-CEOs of agencies
why they had to go
●Donation by a woman DG of N700m to PDP’s presidential campaign in 2015
●Furnishing of an office at N800m
●Construction of a store at N240m instead of N40m
●Failure to account for revenue by a DG who diverted equipment to his private medium
●N15b found in a secret account in violation of TSA
●More than N6b debt in an agency generating at least N9b monthly
●Personal assistant remanded in prison for alleged N17m bribery but DG stayed on
●DG implicated in alleged N68b fraud
Of the 26 Directors-General and Heads of parastatals sacked yesterday, no fewer than 10 may be handed over to the Economic and Financial Crimes Commission(EFCC) and the Independent Corrupt Practices and Other Related Offences Commission(ICPC) for investigation, a source said last night.
It was gathered that President Muhammadu Buhari opted to give some of the chief executives the push, following reports of large-scale fraud in their agencies. One allegedly spent N200 billion on last year’s Peoples Democratic Party’s (PDP’s) presidential campaign.
Some of the former chief executives also awarded contracts to cronies.
The agencies under the searchlight of either the EFCC or the ICPC include National Agency for Food, Drug Administration and Control (NAFDAC), National Broadcasting Commission(NBC), Federal Radio Corporation of Nigeria (FRCN), Bureau of Public Enterprises(BPE), National Women Development Centre(NWDC); Industrial Training Fund(ITF); Nigerian Investment Promotion Council; Nigeria Export-Import Bank (NEXIM) and Nigeria Social Insurance Trust Fund (NSIT), among others.
A source, who spoke in confidence, said: “At least 10 of those sacked chief executives will be handed over to the EFCC and the ICPC. The report on their misconduct is ready for these anti-graft agencies to act upon.
“All security agencies received the list of those affected about 24 hours before the formal announcement. They will all be placed on surveillance until cleared.
“Some of them have actually appeared before EFCC and ICPC in the last eight months. Their cases are under various stages of investigation.
“The revelations are mind-boggling and it is sad that some of these chief executives continued with the impunity even after a new government had taken over.”
Responding to a question, the source added: “The President bid time to get intelligence report on the atrocities, recklessness and outright graft by some of these former CEOs before sending them packing.”
The source gave an insight into some of the infractions.
He said one of the former chief executives allegedly withdrew N200 billion (using curious sub-heads) to fund the campaign of the Peoples Democratic Party (PDP)
=> Sacked Director-General In Trouble For Blowing N200b On PDP's Campaign - The Nation - Vanguard
EFCC, ICPC to quiz ex-CEOs of agencies
why they had to go
●Donation by a woman DG of N700m to PDP’s presidential campaign in 2015
●Furnishing of an office at N800m
●Construction of a store at N240m instead of N40m
●Failure to account for revenue by a DG who diverted equipment to his private medium
●N15b found in a secret account in violation of TSA
●More than N6b debt in an agency generating at least N9b monthly
●Personal assistant remanded in prison for alleged N17m bribery but DG stayed on
●DG implicated in alleged N68b fraud
Of the 26 Directors-General and Heads of parastatals sacked yesterday, no fewer than 10 may be handed over to the Economic and Financial Crimes Commission(EFCC) and the Independent Corrupt Practices and Other Related Offences Commission(ICPC) for investigation, a source said last night.
It was gathered that President Muhammadu Buhari opted to give some of the chief executives the push, following reports of large-scale fraud in their agencies. One allegedly spent N200 billion on last year’s Peoples Democratic Party’s (PDP’s) presidential campaign.
Some of the former chief executives also awarded contracts to cronies.
The agencies under the searchlight of either the EFCC or the ICPC include National Agency for Food, Drug Administration and Control (NAFDAC), National Broadcasting Commission(NBC), Federal Radio Corporation of Nigeria (FRCN), Bureau of Public Enterprises(BPE), National Women Development Centre(NWDC); Industrial Training Fund(ITF); Nigerian Investment Promotion Council; Nigeria Export-Import Bank (NEXIM) and Nigeria Social Insurance Trust Fund (NSIT), among others.
A source, who spoke in confidence, said: “At least 10 of those sacked chief executives will be handed over to the EFCC and the ICPC. The report on their misconduct is ready for these anti-graft agencies to act upon.
“All security agencies received the list of those affected about 24 hours before the formal announcement. They will all be placed on surveillance until cleared.
“Some of them have actually appeared before EFCC and ICPC in the last eight months. Their cases are under various stages of investigation.
“The revelations are mind-boggling and it is sad that some of these chief executives continued with the impunity even after a new government had taken over.”
Responding to a question, the source added: “The President bid time to get intelligence report on the atrocities, recklessness and outright graft by some of these former CEOs before sending them packing.”
The source gave an insight into some of the infractions.
He said one of the former chief executives allegedly withdrew N200 billion (using curious sub-heads) to fund the campaign of the Peoples Democratic Party (PDP)
READ FULL NEWS
=>FG, NLC set for showdown over N5.14 trillion pension funds-Nigerianeye
Federal agencies are considering all options to dance around dwindling oil revenues triggered by tumbling prices of crude at the international market. One of such options is a request by the Mr. Babatunde Fashola, the minister of Housing, Works and Power, to access the N5.14 trillion pension fund to finance critical infrastructure. But, the Nigerian Labour Congress (NLC) has rejected the proposal.
“It should thus be avoided immediately before it gains ground within the corridors of power. It is a kite the congress and the generality of workers will not want to see fly in this circumstance.
“Nigerian workers are worried when we remember that it was in the midst of the mess that the public sector had made of the public sector pension fund scheme that the unified pension fund scheme was established.
“The thought of using our pension fund for investment in public sector infrastructure development is highly frightening given the well-known penchant for mismanagement inherent in public sector institutions in Nigeria.
“The future of Nigerian workers cannot be guaranteed under a scheme controlled entirely by crass, profligate and often insensitive politicians famous for their careless handling of public funds.
“We find it difficult to muster any confidence from anywhere to entrust our livelihood in the hands of a group that has historically and systematically decimated our collective resources over the years pauperising us at the slightest opportunity without any conscience.
“Moreover, we want to state that the Minister in all intents has only seen a pool of funds and sees it as something that could be annexed for the usual things Nigerian politicians do with our funds. Our pension fund is managed by the PFAs under the advisory of PENCOM.
=>FG, NLC set for showdown over N5.14 trillion pension funds-Nigerianeye
Federal agencies are considering all options to dance around dwindling oil revenues triggered by tumbling prices of crude at the international market. One of such options is a request by the Mr. Babatunde Fashola, the minister of Housing, Works and Power, to access the N5.14 trillion pension fund to finance critical infrastructure. But, the Nigerian Labour Congress (NLC) has rejected the proposal.
“It should thus be avoided immediately before it gains ground within the corridors of power. It is a kite the congress and the generality of workers will not want to see fly in this circumstance.
“Nigerian workers are worried when we remember that it was in the midst of the mess that the public sector had made of the public sector pension fund scheme that the unified pension fund scheme was established.
“The thought of using our pension fund for investment in public sector infrastructure development is highly frightening given the well-known penchant for mismanagement inherent in public sector institutions in Nigeria.
“The future of Nigerian workers cannot be guaranteed under a scheme controlled entirely by crass, profligate and often insensitive politicians famous for their careless handling of public funds.
“We find it difficult to muster any confidence from anywhere to entrust our livelihood in the hands of a group that has historically and systematically decimated our collective resources over the years pauperising us at the slightest opportunity without any conscience.
“Moreover, we want to state that the Minister in all intents has only seen a pool of funds and sees it as something that could be annexed for the usual things Nigerian politicians do with our funds. Our pension fund is managed by the PFAs under the advisory of PENCOM.
READ FULL NEWS
ENTERTAINMENT
=>Singer Kiss Daniel Gets a plot of land worth N50 million
![]()
![]()
![]()
The bank officially unveiled the woman of the moment as the bank brand ambassador today
In the bank statement they are so delighted and
inspired by Olajumoke, we’d love to move her forward.
SOURCESENTERTAINMENT
=>Singer Kiss Daniel Gets a plot of land worth N50 million
Caroline Ekanem Danjuma is always in the news usually for the wrong reasons especially (when she is fighting with her husband's numerous mistresses.)
The former Nollywood actress must be tired because a few days ago she posted a picture of a broken heart with the caption "No Regrets" as rumours circulated that her husband Musa Danjuma brought his new mistress to their matrimonial home.
When a friend asked her if it was "bye" she said yes.... and today she posted another picture saying she is single. Fellow Nollywood actress Georgina Onuoha whose a marriage is also rumoured to be in trouble then consoled her saying she is always beautiful.
SOURCE The former Nollywood actress must be tired because a few days ago she posted a picture of a broken heart with the caption "No Regrets" as rumours circulated that her husband Musa Danjuma brought his new mistress to their matrimonial home.
When a friend asked her if it was "bye" she said yes.... and today she posted another picture saying she is single. Fellow Nollywood actress Georgina Onuoha whose a marriage is also rumoured to be in trouble then consoled her saying she is always beautiful.
=>Wizkid and Sean Paul to headline ‘USA Sevens Rugby Weekend’ in Las Vegas next month
The bank officially unveiled the woman of the moment as the bank brand ambassador today
In the bank statement they are so delighted and
inspired by Olajumoke, we’d love to move her forward.
=> Olajumoke Lands Endorsement Deal With Payporte(photos)
Payporte said: We are glad to announce the signing of @Olajumoke__o (Bread Seller turned model) as "Face of PayPorte 2016".
We will be featuring Olajumoke on our billboard campaigns through the year 2016.
Most importantly, we will help Olajumoke complete her long abandoned education.SOURCE
=>"Your Birkin Bag Is Fake" - Fan To Linda Ikeji, 'I'm Too Rich To Buy Fake Bag',
Some fans were always tormenting Linda Ikeji who is fond of posting her shoes and bags collection on Instagram about not having a Birkin bag. A birkin bag is a very expensive and high end designer bag by Hermes.
Linda posted these two pictures of birkin bags she purchased and fans came for her due to the stress it takes to buy a birkin bag as there is usually a long list of clientele and waiting period which could be up to 3 years before a person can purchase one birkin bag. Some have even reported that a person can only buy one birkin bag per year and Kim Kardashian is even reported to have waited years to get a birkin bag.
Putting all this into consideration must have been the reason, some fans were not buying it when she posted pictures of her birkin bags and they called it fake.
These Updates Are Brought To You By Apata Bayode Follow Him On Twitter Here