Showing posts from April, 2017

Is CBN Defending The Naira Or Dollar?

“As I speak to you, our external reserves stand above $31bn, and that provides us with enough fire power to be able to defend the naira”

–Godwin Emefiele (Governor, Central Bank of Nigeria, April 25, 2017).

The question, however, is this: Is the CBN actually defending the naira? This question is addressed in the above title, which was first published in The Punch and Vanguard newspapers on January 12, 2015. Please read on:

The serial naira devaluation, from N1=$1 to almost N70=$1, was probably the most significant instigator of the oppressive economic challenges induced by the International Monetary Fund-imposed Structural Adjustment Programme. Nigeria’s once pulsating industrial base soon became almost silent, with increasing idle capacity and unemployment.

Worse still, all wages and incomes were reduced to ‘peanut’ value by the twin bullets of naira devaluation and inflation. Ultimately, the ‘check out’ syndrome became fashionable, with well-heeled professionals and technocrats see…


By Philip Nweze

The story I'm about to tell seems too good to be true. It is one that cannot be forgotten with the passage of time. One that plastered me with curious excitement and makes me carry a sense of pride for being an Ebonyian. In this era of rancourous partisan divisions and tsunami of negative politics, this particular tale is a modern masterpiece in Nigerian politics. In fact, from every indication, it looks like good times are here for opposition political parties in Ebonyi state.

Ebonyi Governor, David Umahi took the nation's political commentators by surprise earlier this month when he announced that he would pay fifty percent of nomination fees for councillorship and chairmanship candidates of opposition political parties willing to partake in the April  22 local government elections in the state. The opposition political parties in the state had cited the exorbitant cost of Ebonyi State Independent Electoral Commission (EBSIEC) nomination forms as reason why …

Whistleblower narrates what transpired in Lagos apartment where EFCC seized $50m

While Ayodele Oke, the Director-General of the Nigerian Intelligence Agency (NIA) has claimed that the $43 million, N23.2 million and £27,800 (N13billion) cash found in an apartment in Lagos last week belongs to his agency, information available to SaharaReporters suggests that the woman seen hauling the money into the apartment in Ghana-Must-Go bags may have been Folashade Oke, his wife.

Investigation has revealed that the owners of Apartment 7B gave Folashade Oke, with phone number +2348059833410, as their contact. Sources at the NIA confirmed Folashade to be the spouse of their Director-General, Mr Oke.

The day after the money was discovered, Mr Oke had told SaharaReporters he could not verify any information about the money as he had not read any report linking his agency to the cash.

The apartment where the money was found
After pledging to speak to us thereafter, he did not take any calls until he suddenly announced that the money belonged to NIA, and that it had been approved …

How Efe won Big Brother Naija

Efe Ejeba has emerged as the winner of Big Brother Naija
Efe’s win was expected. He had been touted as the winner throughout the duration of the show and many Nigerians made sure he won by the way they canvassed for votes on his behalf.

The other housemates all had campaigns for them but none came close to Efe’s. People organized rallies for him, held prayer sessions on his behalf and almost all celebrities lined up behind him. Some say it was his down to earth nature while others said it was the fact that people could relate to him that made him win.

We voted in a President who many people felt was a man for the masses but in recent times, this hasn't been the case. President Buhari's economic policies have alienated him from the masses and as a result, many turned to Efe, the hustler from the streets as their savior.

They could see themselves in him, they had felt his pains and his struggles so it was either Efe or nobody. that's why he won with such a huge margin. ( He…



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House Of Assembly Issued A Warrant Of Arrest On Kayode Fayemi. – Ekiti Assembly

The Ekiti state House of Assembly has issued a warrant of arrest on Kayode Fayemi.
The Ekiti state House of Assembly has declared that the immediate past governor of the state, who is also the current minister for mines and solid minerals development, Dr Kayode Fayemi, remains a wanted person.

The House made the statement on Thursday, April 6, in reaction to the suit filed by Fayemi, demanding N500 million damages from the Assembly.

The chairman, committee on information, youth and sports development, Dr Samuel Omotoso, described the lawsuit instituted by the minister as an effort in futility.

In the statement which was sent to, Omotoso said Fayemi breached the said constitution by failing to appear before the House, after it had summoned him three times in the last one year over some allegations of corruption levied against him.

Omotoso said: “the attention of the Ekiti State House of Assembly has been drawn to some newspapers publications where the wanted Minister of Solid…

PDP Achieved A Lot While In Power - Goodluck Jonathan

Jonathan has disputed suggestions that the PDP the 2015 presidential election because it failed to deliver on good governance.
Former president, Goodluck Jonathan, has disputed suggestions that his party lost the 2015 presidential election because it failed to deliver on good governance.

Jonathan said all over the world political parties lose elections not because they have failed but the electorate chose to experience another leadership.

Speaking on Thursday, April 6, during a stakeholders’ meeting at Yar’adua Center in Abuja, the former president, disputed the claims of the ruling All Progressives Congress (APC) that his party left the country in ruins, Jonathan said PDP achieved a lot while in power, the Cable reports.

“We are proud to state that PDP had creditably managed the affairs of this country for 16 years,” he said.

“There is no doubt that our party has in the last two years gone through some difficulties. However, in a democracy this is not strange in the life of a politi…

Boy, 13, Cries Out As Police Killed His Mother While Trying To Shoot At A Yahoo Boy

A twitter user identified as Chidi Okereke (@Chydee), has taken to his Twitter handle to call out an officer of the Nigerian police force for killing an innocent woman in Lagos.

Mama Ayo who was mistakenly killed by the gathered that, the story of how a mother was shot dead during a chase between a Lagos state police officer and an unidentified man, who was accused of being a Yahoo boy.

According to multiple reports on twitter, the deceased Identified as Mama Ayo and two other persons were hit by stray bullets, after the officer fired a shot at the Onipanu Toll Gate, when the alleged Yahoo boy tried to escape during questioning.

However, the deceased son, 13, witnessed the shooting of his mother and has cried out for justice.

The woman’s death reportedly triggered outrage as witnesses demanded the identity of the officer who fired the gun, as he was later identified simply as Tboy attached to the Special Anti-Robbery Squad (SARS).

Chidi Okereke’s claims were later back…

Street Boy Who Called For The Mass Burial Of Nigerian Leaders Gets A Better Life

Looks like good times are here for a young man who expressed his opinion over the state of the country and the 'corrupt' leaders.

A young man identified as William, had been interviewed in a street vox pop, where he had expressed his opinion stating that the solution to the economic problem in Nigeria, was for the leaders to be given a mass burial.

His passionate 'speech' caused a Nigerian philanthropist identified as Adepeju Olukokun, to reach out to him, and try to give him a better life.

The Kokun foundation have give William a better life
Olukokun reached out to William through the Kokun Foundation, where they proceeded to bless him with several gifts.

The foundation gave him a house to stay in, got him a job, placed his family in a rented apartment, and have pledged to give him money every month.

Sharing the post, Olukokun wrote:

"Change is the only Constant thing in Life! Today, Williams dream came true and he was filled with happiness and joy afte…

Italy deports 40 Nigerians

An immigration source said 39 of the deportees were returned because of immigration offences while one, a male was returned because of his involvement in drug related matters.

The Italian government on Tuesday April 4, deported 40 Nigerians for immigration and criminal offences.

Nigerian deportees arrived at Murtala Muhammed International Airport, Lagos

Punch reports that the deportees, comprising males and females arrived at the Murtala Muhammed International Airport, Lagos at about 8:25pm aboard an Air Meridiana aircraft with registration number E1-FNU.

READ ALSO: Germany set to deport 12,000 Nigerian asylum seekers as 128 others die in Mediterranean Sea

The source added that the returnee with drug-related issue would be handed over to police for further prosecution while others who were profiled by officials of the Nigeria Immigration Service would be assisted home.

Sahara Reporters had earlier reported that the Italian government would deport at least 40 Nigerians back into the c…

Ondo state House of Assembly recalls former speaker

The Ondo State House of Assembly on Tuesday, April 4, lifted the indefinite suspension placed on the former Speaker of the House, Jumoke Akindele, and her principal officers, following allegations of N15 million fraud.

However, Tuesday’s sitting was held without the attendance of Ms. Akindele and 12 other members of the House, Premium Times reports.

Ondo state House of Assembly recalls former speaker Jumoke Akindele, others

At the plenary, majority leader, Olugbenga Araoyinbo, while moving the motion to lift the suspension, said the recall was to give the three former principals officers the opportunity to defend themselves on the allegation of financial misconduct.

The Speaker of the House, Bamidele Oleyelogun, put the question, and the house voted overwhelmingly to lift the ban.

Ms. Akindele and her principal officers had resigned their positions sequel to a truce brokered by the state governor, Rotimi Akeredolu.

The other principal officers who were suspended along with Ms. Akinde…

Stunning photos of JJC Skillz, his wife, Funke Akindele and his kids

In celebration of his 40th birthday, JJC Skillz shared these beautiful photos of his family. He is pictured with his wife, Funke Akindele, and his kids, Tamara, Josiah and Benito

Senate’s Disapproval And Magu’s Fate

The essence of confirmation is for legal rights of the appointee, and where confirmation is denied as in the present case with the EFCC Acting chairman, Ibrahim Magu, the appointee cannot validly claim the privileges attached to his office. In other words, non confirmation by the Senate does not render official duties performed on acting capacity illegal.

Suffice it to say that a true patriot can devotedly serve his nation irrespective of non-confirmation of his appointment which only confers on him certain privileges.
Incidentally, the request of President Muhammadu Buhari for confirmation of Ibrahim Magu as the substantial Chairman of EFCC was turned down by the Senate on flimsy reasons not far from vendetta. As widely believed, Magu is being victimized on account of his doggedness and for daring to step on the ‘untouchables’ in high-places in sync with the zero-tolerance policy on corruption of President Buhari’s government.

Pursuant to Section 154 (1) of the 1999 Constitution of …

Administration Of President Muhammadu Buhari Would Not Be Cowed

The Presidency said at the weekend that the administration of President Muhammadu Buhari would not be cowed by mounting resistance against its anti-graft war.

Speaking at a radio Programme tagged: “Hannu Da Yawa” on FRCN Kaduna, the president’s spokesman, Mallam Garba Shehu, said Buhari would fight the war against corruption to the end.

According to him, the President’s commitment to uproot corruption as one of the cardinal policies of his election campaign is non-negotiable.

“Let me say one thing. Those whose illicit ways of accumulating money have been stopped will criticise this government but all that will not derail the unfaltering commitment of President Muhammadu Buhari’s administration to the war against corruption.

“He is aware that this was one of the main reasons why Nigerians in their millions put their trust in him – the main reason they voted him into power in 2015. To keep that trust of ordinary Nigerians who voted him into the office, he has vowed to give corruption a…

House Of Representatives Move To Uncover Alleged Forex Scam

The House of Representatives has threatened to drag officials of Nigerian National Petroleum Corporation (NNPC) to the EFCC in its determination to uncover an alleged foreign exchange manipulation scam.

- Some oil companies whose names appeared on the CBN list as those that accessed forex for oil activities have denied collecting such monies

- The House of Representatives has vowed to get to the root of the alleged foreign exchange manipulation involving some NNPC officials

- Meanwhile, speaker of the House of Representatives, Yakubu Dogara, says corruption cannot be totally eliminated

The House of Reps has said it will get to the bottom of the investigation on the alleged forex scam involving some officials of the NNPC.

The warning which was issued by the House committee on the review of price of petroleum products, comes shortly after some oil companies whose names appeared on the Central Bank of Nigeria (CBN) list as those that accessed forex for oil activities, denied having coll…

President Buhari’s job is causing distractions to Nigeria, says El-Rufai

Although he admitted that President Buhari has not indicated that he would run again in 2019, El-Rufai however said that most ruling party members would like him to seek a second term.

- These politicians, he said, are causing distractions in the country's political system as they struggle for the top job way ahead of the timeline for the 2019 elections

- El-Rufai says he and everyone in APC want President Buhari back for the second time

Kaduna state governor Nasir El-Rufai says struggle for President Buhari's job because of his ill health is distracting him and other political leaders.
Kaduna state governor Nasir El-Rufai has said that the struggle for the position of President Muhammadu Buhari has created confusion in Nigeria’s political system.

Bloomberg reports that El-Rufai said this in Johannesburg, South Africa on Monday, April 3.

According to the Kaduna chief executive, politicians aspiring to be the next leader of Nigeria have kicked off the rat race for the country’…

The 10 Other Nigeria Senators Listed As Defendants In The Suit

The saga between Senate president Saraki (left) and anti-corruption chief Magu (right) has taken a new turn
The Nation reports that the lawmakers were sued at a Federal High Court Abuja by a Lagos businessman Raji Rasheed Oyewumi who is seeking the nullification of the screening of Magu by the Nigerian Senate.

1. Godswill Akpabio

2. Jonah Jang

3. Aliyu Wammako

4. Stella Oduah

5. Theodore Orji

6. Rabiu Kwankwaso

7. Ahmed Sani

8. Danjuma Goje

9. Joshua Dariye

10. Adamu Abdullahi.

Senate president Bukola Saraki and a host of other senators have been dragged before the court over the screening of acting Economic and Financial Crimes Commission (EFCC) chairman Ibrahim Magu on Wednesday, March 15.

Oyewunmi also wants the court to declare Bukola Saraki and 10 Senators who are presently being investigated by EFCC as not having the moral right to have participated in the screening of Magu because of conflict of interest.

For this reason, he said the court should disqualify Saraki and the 10 S…

New passport holders seeking to travel to Indonesia need NDLEA backing to obtain visa

Nigerians with new passports seeking to travel to Indonesia will need to present a certificate of recommendation from the National Drug Law Enforcement Agency, among other documents to process their visas.

Indonesian Ambassador to Nigeria, Harry Purwanto, who told the News Agency of Nigeria (NAN) in Abuja, said that that the new visa policy, was in line with global measures to promote safety for its citizens.

He said that it was reviewed in October 2016. He, however said that it was easier for those with frequently used passports, to get visas.

He explained that applicants seeking to travel to Indonesia also need to be invited or have certain recommendations to visit that country.

The envoy added that the policy had made visa application process for Nigerians “quite tough” but added that it was for the safety of all.

“We (the embassy) could authorise the issuance of visas without having to get in touch with Jakarta but since Oct. 2016, we have to send visa applications from here to J…