Wednesday, October 28, 2015
Tuesday, October 27, 2015
Exactly eight years ago, Rotimi Chibuike Amaechi, former governor of Rivers state, and Ezenwo Nyesom Wike, now governor of the state, were best of friends. By “exactly eight years ago”, I truly mean October 26, 2007. Just one day earlier, the supreme court had declared Amaechi governor of the state, saying he was the rightful candidate of the Peoples Democratic Party (PDP) having won the party’s primary, rather than Celestine Omehia, whom the party fielded.
At the time, Wike, as chairman of Obio-Akpor local government and national president of the Association of Local Governments of Nigeria (ALGON), greatly supported Amaechi’s campaign. They were buddies. So happy were they that after Omehia was booted out of office, Amaechi appointed Wike his chief of staff – a position that governors traditionally allot to their most trusted ally.
Fast-forward eight years later and both men would not just see eye-to-eye. It was Amaechi who nominated Wike for ministerial appointment under the presidency of Goodluck Jonathan. But after Amaechi fell out with Jonathan and left PDP, Wike chose to side with not his old boss but his new one. Although both men have been at daggers drawn ever since, it is only in 2015 that the real battles have been fought; and so far, it is Amaechi who is having the upper hand.
2015 PRESIDENTIAL ELECTION, 1-0
As a minister in Jonathan’s cabinet and as a Rivers state governorship aspirant under the PDP ticket, Wike staunchly opposed the candidature of APC’s Muhammadu Buhari, whose campaign was spearheaded by Amaechi. With Buhari polling a total of 15,424,921 votes ahead of Jonathan’s 12,853,162, not only did Nigeria have a new, Amaechi secured his first victory over his former ally-turned-enemy.
MINISTERIAL NOMINATION, 2-0
Life is full of ironies. Or how does one explain that the chief antagonist of a ministerial nominee is the same one who once became a minister on the recommendation of the current nominee? Amaechi nominated Wike to be minister when he was governor, but Wike has been the most vociferous opponent of Amaechi’s ministerial nomination by President Muhammadu Buhari.
To Wike, Amaechi is too corrupt to be minister. Once, he branded his predecessor the most corrupt public office holder. “If Buhari is sincere in his fight against corruption, let him probe the Amaechi’s government and he will discover that there cannot be a government official that is more corrupt than Amaechi,” he said through Opunabo Inko-Tariah, his special adviser on media and publicity, shortly before the president released the first list of nominees.
Of course, Amaechi had unkind words of his own, once describing Wike as a man who would betray his mother for money. “Nyesom Wike loves and worships money; he can betray his mother for money – nothing more, nothing less,” he had said two days before the election that Wike ‘won’.
At some point, it did seem Amaechi would not even be screened by the senate, much less emerge a minister. Time after time, his screening was postponed following allegations of corruption to the tune of N70bn by Rivers state senators. Finally, on Thursday October 22, Amaechi was screened.
Although George Sekibo, a PDP senator from Rivers, has warned that it is a thing to be screened and another to be confirmed minister, Amaechi, based on the reception he enjoyed at the screening, can count on his confirmation later this week. In any case, to have been screened alone is itself one more victory over his tormentor-in-chief. Two nil.
RIVERS GOVERNORSHIP TUSSLE, 3-0 This is not closed yet, but it is quite some drama. Wike must have thought he had pulled one victory over Amaechi, whose candidate, Dakuku Peterside, he outwit by 1,029,102 votes to 124,896. In Nigerian politics, victory at the polls is hardly the real victory; almost every election loser goes to court, and the winner never really emerges until the legal options have been exhausted. Now, after the first legal option, the election petition tribunal, it does seem Wike has a massive battle in his hands. The tribunal has nullified his victory at the polls, and ordered fresh elections within 90 days. Jubilant Amaechi knows he has secured his third straight victory over Wike. But then, like it does happen in a game of football, even a three-nil deficit advantage can quickly be overturned. In doubt? Ask the Saudi ’89 Flying Eagles, who were losing four nil to the Soviet Union as at the 61st minute, only to score four goals in 23 minutes before going on to win 5-3 on penalties. Perhaps Wike will recover in due course to show Amaechi that the servant can, at times, outshine the master. But, for now, it’s Amaechi 3 – 0 Wike.
•Admin, Senate buildings laced with charms
•No-go-area for VC, staff for past 7 months
DON’T step into the Admin Block 1 of the Lagos State University (LASU) or the Senate Building if you don’t want to die! That is the message that those who laced the place with charms sought to deliver with their frightening deed. Since then fear has pervaded the 32-year-old institution in the past six months. The Admin Block 1, which houses the office of the Vice Chancellor, Prof John Obafunwa, other principal officers and registry staff has been deserted for over six months over alleged juju scare. This is the second time under his administration that juju was reportedly placed on the Admin Block and Senate Building.
On a good day, the Admin Block 1 was the busiest office on the campus and has the highest human traffic, mainly staff, students and visitors entering and coming out. It is a one storey building located near the Badagry Expressway gate of the university.
The Senate Building, which faces both the Admin Block 1 and 2, has also been abandoned in the past six months for the same reason forcing meetings of the Senate to be held at the Lagos State University College of Medicine (LASUCOM).
In the last six months, the Admin Block 1 and the Senate Building have been made to look like a ghost town because of desertion by the Vice Chancellor, Prof John Obafunwa, principal officers and other staff over fear of being harmed by fetishes left in the area. The trouble started on Monday, March 16, 2015, when the staff unions chased out the VC, his two deputies, the Registrar and other senior management staff out of the campus.
Less than 24 hours after the protest, the university workers asked the former Governor, Babatunde Fashola, to appoint an acting VC, adding that they have ‘sacked’ the vice chancellor. The staff unions also demanded for a Visitation Panel.
The next day after the protest, congress of the three staff unions at their different meetings banned Prof. Obafunwa from entering the campus, accusing him of maladministration and several other offences. Loyalists of the VC fought back and condemned the action of their colleagues, insisting that Obafunwa should be allowed into the university to carry out his duties.
After the ugly incident, the Admin Block 1 and the Senate were locked and since then no staff including the principal officers and even the campus security personnel had gone near the building.
The 32-year-old institution may have made history as the first tertiary institution whose VC has not set foot on campus for over six months because of the prolonged face-off with the workers who have vowed not to allow him into the university.
Fear of what happened to other workers, who some years back tried to force open the Admin and Senate blocks, also made security personnel and those loyal to the embattled VC not to open the two iron gates. Rumours about staff who were struck by strange illness when they tried to enter the buildings previously has made the place a no-go area.
For days, some staff were placed on ‘special duty’ by the unions to monitor the locked Admin and Senate blocks even as the workers gathered under a tree to continue with their celebration over the banishment of the VC and other top management from the campus.
Investigation reveals that several attempts were made by the immediate past governor to smuggle the embattled VC into the campus but the main problem was that nobody wanted to go near the Admin Block 1 and the Senate Building because of fear of the juju.
Even the NANS and LASU students union that demanded for the VC’s return to the main campus were not bold enough to go near the dreaded spots. They restricted their protest around the two gates.
When our correspondent visited the campus, it was evident that the Admin Block and Senate Building has not been used for several months, as the surroundings were overgrown with weeds. It was gathered that members of staff of the university also avoid the place for fear of bad omen.
Further enquires revealed that registry staffs, whose offices were located in the Admin Block 1 and the Senate Building have been temporary relocated to other offices. The VC, Prof Obafunwa, has been using his personal office at LASUCOM, while Senate meetings were held at one of the halls in LASUCOM.
Efforts by our correspondent to find out who laced the Admin Block and Senate Building with juju proved abortive as the Director, Centre for Information, Press and Public Relations (CIPPR), Mrs. Ronke Osho was said to have started her retirement leave from the services of the Lagos State government.
The chairmen of ASUU, SSANU and NASU claimed ignorance of the juju. But some union members dared the students, state government and Obafunwa’s loyalists to open the gates.
“The unions will not stop them from going to open the Admin Block 1 and the Senate Building, but they know the consequences,” a staff who wishes to remain anonymous, explained. “Those who tried it some years ago know what happened. Even the VC and his loyalists know the implications of going to open the gates by force.’
It was gathered that before the gates of the Admin Block 1 and Senate Building would be opened for use, certain rituals would need to be performed in the night.
The new Pro Chancellor and Chairman, Governing Council, Prof. Adebayo Ninalowo told Education Review that he and his members are working hard to restore peace on campus. He said they met the staff unions and students unions recently.
Obafunwa’s tenure would end on October 31 and staff unions have already started a countdown for him with two big banners placed at the two gates of the university. announcing how many days are left of his administration.
The supreme court has dismissed the suit of Nyesom Wike, Rivers state governor, who challenged the jurisdiction of the Rivers governorship election petition tribunal to hear a petition by Dakuku Peterside of All Progressives Congress (APC).
Wike had argued that the tribunal sitting in Abuja had no jurisdiction over matters that transpired in the state. His contention is that the tribunal should have sat in Rivers state and not in Abuja. The tribunal was moved to Abuja over for security concerns, as those of Akwa Ibom, Yobe, Adamawa and Borno. The appeal court had earlier ruled that the tribunal could sit in Abuja to handle Rivers election petitions.
The Rivers tribunal had last Saturday sacked Wike as governor of the state, and ordered that the Independent National Electoral Commission (INEC) hold a fresh election within 90 days. The apex court held that the tribunal was properly constituted and had jurisdiction to hear the petition of Peterside. It ruled that the shift in location of the tribunal from Rivers to Abuja was out of necessity, and added that the president of the appeal court did not err in law by ordering the relocation of the tribunal. The court therefore dismissed Wike’s suit for lack of merit.
The seven judges of the court, who were all in agreement with the ruling, stated that the relocation of the tribunal was to protect members of the panel and as such complied with the “doctrine of necessity”.
Wednesday, August 19, 2015
The financial transactions of the Nigerian National Petroleum Corporation will be published periodically to ensure transparency beginning from next month, the Group Managing Director, NNPC, Dr. Ibe Kachikwu, has said.
According to Kachikwu, the move was part of his resolve to usher in a new dawn of transparency in the national oil firm, stressing that transparency must be the watchword of every staff in the new NNPC.
Kachikwu, who stated this at his maiden town hall meeting with employees of the corporation at the NNPC Towers in Abuja on Tuesday, said the new NNPC will be a corporation anchored on the foundation of clearness.
The Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, confirmed this to our correspondent in a telephone interview and also in an electronic mail.
“I want transparency. Beginning from next month, I want to be able to publish what the company makes. I have told the President that as from next week I will be sending him weekly reports,” the new GMD reportedly told employees of the national oil firm.
If implemented, this will be a departure from what used to be obtainable at the national oil firm. It will be the first time in ages that the NNPC will be publishing its financial transactions for the public to see.
Source: The Punch
Former Secretary to the Government of the Federation (SGF) Anyim Pius Anyim unilaterally acquired the multi-billion-dollar Centenary City on the Nnamdi Azikiwe International Airport Road, Abuja, a Peoples Democratic Party (PDP) chief alleged yesterday.
PDP’s National Vice Chairman (Southsouth zone) Dr. Cairo Ojougboh said he was ready to face the ex-SGF in court to prove his sole ownership of the controversial housing estate.
At a media briefing in his Abuja home late Monday, Ojougboh, reacting to what he described as “the show of shame”, which he said Anyim sponsored against him on Monday, accused the former SGF of acts of desperation “to cling onto his loot and spoils of office without putting into consideration the millions of Nigerians he is depriving of the dividends of democracy”.
Calling on President Muhammadu Buhari to probe transactions relating to the Centenary City, Ojougboh said Anyim persuaded former President Goodluck Jonathan to sign the Centenary City documents without the ex-president reading the contents or consulting his advisers.
The Centenary City project is sitting on a land area covering over 1, 500 hectares, the size of three districts in the Federal Capital Territory (FCT).
The PDP chieftain has petitioned President Buhari, stating the facts relating to the transaction and the role played by Anyim in what he described as “a scam” perpetrated by a United Arab Emirates company, allegedly operating as a front for Anyim.
Ojougboh said: “Yes, the former president signed the papers as presented to him by the former SGF. He was not properly briefed because of vested interests.
“I can defend him; he was not part of the fraud. If Jonathan had been properly briefed, he would not have approved the project, let alone going to perform the ground breaking.
“The former President thought that the Centenary City was for the good of all Nigerians because of the centenary spirit. Unknown to him, it was the private project of the former SGF and his cohorts.
“I am calling on President Buhari now to revisit the centenary city project and he will be shocked that the project is owned by a private individual, but procured with government funds”.
According to Ojougboh, the original landlords demanded compensation from the Federal Government, “but the sponsors of the project used a private firm to pay them N1.2 billion. He asked: Where did they source that money from?”
He continued: “How can an individual still serving in the government get such a huge sum to pay compensation without government knowledge?”.
Ojougboh alleged that the money was paid into a private company’s account.
He said: “President Muhammadu Buhari should direct the Department of State Services (DSS), the police, the Directorate of Military Intelligence as well as the Economic and Financial Crimes Commission (EFCC) to look into the matter.
“The President must insist that each of these security agencies should carryout independent investigations so that the depth of the matter would be reached. I am available to offer the much I know from my independent quests on the matter”.
Ojougboh, a medical doctor, insisted that the project was a scheme used to defraud the Federal Government in taxes, stressing that the Free Zone status given to the multi-district estate was a fraud.
Ojougboh also quoted Anyim as saying that the project was worth $4 billion, adding that the process violated the rules guiding the granting of free trade zone status by the Nigerian Export Processing Zonal Authority (NEPZA).
The PDP chieftain, who was chairman of the board of NEPZA during the project’s conception, said the board did not approve a free trade zone status for it.
“I can categorically attest to the fact emphatically and unequivocally, that the board did not approve the grant of the status of free trade zone to centenary city.
“Centenary city cannot be a free zone because it is purely a residential estate within the confinement of the Federal Capital Territory and it is implicit that those who live in the free trade zone will require re-entry visa for ingress and egress.
“I make bold to say that the Federal Government has no equity in the Centenary City project and that Senator Anyim Pius Anyim is the sole owner of the 3000 acres of land owned by the Centenary City, Abuja.
“This is against the tenets and spirit of the Public Service rules for a public servant to own such a business whilst in government,” Ojougboh said.
The party chieftain stated that his attention was first drawn to the scam by the Anti-Corruption Network, and that he had voiced his opposition to the anomaly.
“It was meant to give import duty to the owners through the back door. The consequence was to rob Nigerian masses of their land, revenue and retard the industrial growth of the nation.
“Therefore, for every one job the project creates today, it robs the nation of over 10 jobs in taxes and industrial development”. Ojougboh stated.
Ojougboh raised some questions for Anyim:
- Does the law establishing the FCT allow for a free zone? Is it in the Abuja mater plan?
- How did Pius Anyim obtain the N1.2 billion resettlement fees?
- In whose custody is the Certificate of Occupancy (CofO) of the Centenary City?
Anyim’s media aide, Mr. Sam Nwaobosi, declined comments because, according to him, the matter is in court. In a telephone conversation with reporters in Abuja yesterday, Nwaobosi said Anyim would not take up issues with Ojougboh.
Said he: “Senator Anyim has gone to court to sue him for defamation on the previous press conference and interviews that he granted in which he accused Anyim of almost all these things you said he is saying now.
“So, the matter is already in court and Senator Anyim does not wish to take up issues with him on matters that are already in court.
“Since he feels aggrieved by what Cairo (Ojougboh) has been saying and writing against him, he is pursuing a very civilised cause by going to court to plead his case.
“So whatever Ojougboh is saying, he will have an opportunity in court to explain and then plead his case.”
Source: The Nation
ICPC Chairman Ekpo Nta
These are not comfortable times for some ‘super rich’ civil servants as they are said to be rushing to sell their choice houses and state-of-the-art automobiles in order to avoid losing the properties to the President Muhammadu Buhari’s anti-graft crusade.
Already, the Independent Corrupt Practices and other related offences Commission has reportedly confiscated some buildings said to have been owned by public servants whose earnings are said not to support ownership of such grand structures.
Our correspondents learnt on Tuesday that some civil servants now bombard estate agents in the Federal Capital Territory in order to aid the quick sale of their properties, while financially buoyant buyers were said to have started cashing in on the development.
One of our correspondents gathered that the sale of properties in Abuja since the new administration came on board had increased by about 30 per cent.
In fact, it was learnt that property sales in the FCT increased “tremendously” within the past four weeks, in contrast to the lull that characterised the sector from January to May this year.
Real estate agents in the Federal Capital Territory told The PUNCH that the increase could be attributed to the recent probes of government officials and the resultant confiscation of their properties by the ICPC.
ThePUNCH had reported exclusively a few weeks ago that the ICPC would commence a clampdown on very wealthy civil servants.
On August 16, SundayPUNCH reported that the ICPC had seized 24 landed properties that belonged to three officers of the Niger Delta Ministry.
It stated that the properties were seized because they were “excessive of the emoluments of the affected officers.”
The commission had also explained that the properties were seized in pursuant to Section 45 (4) a – (b) of the Corrupt Practices and other Related Offences Act 2000.
The ICPC had, among others, said, “Whereas the commission is investigating a matter involving some staff of the Niger Delta ministry, wherein certain movable and immovable properties owned by the said staff are in issue. And whereas the commission is of the opinion based on the aforementioned investigation that these movable and immovable properties owned by these people who are staff of the Ministry of Niger Delta Affairs are excessive, having regard to their present emoluments and all other relevant circumstances.
“The commission hereby notifies the entire public that all movable and immovable properties owned by these staff and listed hereunder are seized.”
Real estate agents that spoke with our correspondents explained that some private individuals had started consulting real estate agents, requesting assistance in disposing of their properties.
“The probe has created panic. Private persons now consult us, requesting our assistance in helping them sell their properties. Of course, they won’t say they are trying to avoid probe, but most of us know that that is what they are avoiding,” an agent and member of the Real Estate Developers Association of Nigeria, who pleaded not to be identified, said.
When contacted, the immediate past National President/Chairman of Council, REDAN, Chief Olabode Afolayan, said that the property sector had witnessed an unprecedented boom in the sales of properties in the past few weeks.
He said, “In the last couple of months, you could see that there was no activity at all. Between January and May, it was like there was no activity at all. So, what we are experiencing now shows that people are coming back to business and we hope that things will soon take normal shape.”
When asked if the rise in sales of properties could be attributed to the anti-corruption stance of the President and the recent sanctioning of some civil servants, he said “that might not be far from the truth.”
Afolayan said, “That might not be the case with estate developers because we are not government officials, rather we sell our own properties. But for owners of existing properties who are beginning to offload their belongings, then it might be for the reason not too far from what we are experiencing now, in which we have a government that is going to be proactive in addressing corruption and is not going to condone any form of negativity that will affect the system.
“But for us, it is a different thing because we have our own businesses and many of our businesses are funded by financial institutions. We sell our properties now because we don’t want the devaluation of the naira to catch up with our businesses.”
Afolayan’s successor and incumbent President of REDAN, Mr. Ugochukwu Chime, told one of our correspondents that it was expected for the sales of properties to increase, adding that many government officials of the past administration might want to dispose of their properties now.
He said, “We have not done any study now. However, it is a seasonal thing. Some of the officials of the past government will not want to leave Abuja just like that, it is not possible. Those who are coming with the new government have moved massively into Abuja and they are willing to buy.
“Those of the past government will want to sell their properties to either meet their needs or may do so not to leave Abuja just like that.”
The FCT Chairman of REDAN, Mrs. Binta Ibrahim, said she could not attribute the haste by civil servants to dispose of their belongings to probe, but noted that the sales of properties had increased.
“People are buying properties and sales have increased since the new administration came onboard, particularly in recent times. However, I cannot say if those selling are civil servants who are trying to avoid corruption probe by the President or not,” she said
Meanwhile, the Association of Senior Civil Servants of Nigeria has applied to the ICPC for information on civil servants alleged to own properties worth billions of naira.
The union said that it asked the anti-graft agency to furnish it with the details of civil servants that were discovered to have used proceeds of corruption to purchase properties in Abuja, Lagos and other cities of the country.
The General Secretary, ASCSN, Bashir Lawal, said this on Tuesday when our correspondent asked him to react to the ICPC report in which many civil servants were alleged to own high net worth and choice properties.
Lawal declined to comment on the report, saying the union needed to see the content of the ICPC report before it could offer a response to it.
Lawal said, “We need to confirm whether the owners of the properties are real civil servants; at times, some people are brought into the civil service; so, are we talking of people brought into the service by politicians or the real civil servants?
“We have called for details from ICPC; when we get the details, we will react appropriately.”
Source: The Punch
The Nigeria Customs Service yesterday demonstrated that its a stickler for due process when the most senior officer, Deputy Comptroller General, John Atte, took over the mantle of leadership following the resignation of Abdullahi Dikko as the Comptroller General.
The action may have foreclosed the usual rivalry often seen in most government agencies that do not have a strong succession plan.
Atte, a Deputy Comptroller General (DCG) in charge of Finance, Administration and Technical Service (FATS) is the most senior officer and he is expected to hold forth till President Muhammadu Buhari either confirms him or appoints a new CGC.
Spokesman of Customs, Wale Adeniyi told Daily Sun that “Atte is in charge now and we await the President to state who a substantive CG will be,” he said.
Following Dikko’s resignation, top senior Customs officers have begun lobbying to take over the CG’s position considered as one of the most lucrative positions in Nigeria’s public service.
Daily Sun learnt that top Customs officers within the ranks of DCG and Assistant Comptroller-General (ACG) are romancing influential politicians to put in a word for them to be made the substantive CGC.
Aside Atte, other serving DCGs include Adewuyi Akinade from Oyo State who is in charge of Tariff and Trade; Musa Tahir from Yobe State is DCG Enforcement, Investigation and Inspection.
Others are Chukwuma Nwosu (Enugu State), Ibrahim Mera (Kebbi State) and Gabriel Aliu (Kogi State).
Next in rank to the DCGs are Assistant Comptroller Generals (ACGs).
The NCS has 17 ACGs and any of them also stands a good chance of succeeding Dikko if the Presidency so desires.
Dikko became CG from ACG, skipping the DCG rank.
The ACGs are Dan Ugo (Benue State) in charge of Excise and Duty, ACG Human Resource Development, Patient Iferi (Cross River); Strategic Research and Policy, Austin Warikoru (Bayelsa); ACG Tariff and Trade, Grace Adeyemo (Ondo); ACG Excise Department, Robert Alu (Nassarawa) and Coordinator, Zone B, Ade Dosunmu (Lagos State).
The other ACGs are Coordinator, Zone D, Paul Ukaigwe (Imo State); Coordinator, Zone C, Ahmed Muhammed (Jigawa State); ACG Human Resource Development, Adeshina Odumbaku (Lagos State); ACG Investigation and Inspection, Bello Liman (Sokoto State); ACG Industrial Incentives, Monday Abueh (Rivers State); Coordinator, Zone A, ACG Victor Gbemudu (Delta State); Madu Mohammed (Yobe State), who is serving on the NCS Board; ACG Information, Communication and Technology, Iya Umar (Adamawa) and ACG Finance and Revenue, Bridget Okafor (Anambra).
Recall that Dikko had earlier written a letter dated August 3 to President Muhammadu Buhari in which he notified Buhari of his desire to proceed on voluntary retirement from August 18, 2015 when he would have clocked six years as Customs boss.
Source: Sun News
Tuesday, August 18, 2015
The naira appreciated against the United States dollar at the parallel market on Monday to 217, from 221 recorded on Friday.
The naira rose on the back of weak demand for the dollar at the foreign exchange markets.
Forex traders linked this to an improved dollar liquidity occasioned by the sustained sales of the greenback by the Central Bank of Nigeria.
Reacting to the rising fortune of the local currency, the Acting President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, said, “The market has started feeling the effect of the dollar sales by the central bank in the last two weeks and tight measures introduced to prevent cross boarder currency trafficking.”
The CBN had increased the frequency of dollar sales to the BDC operators two weeks ago to twice-weekly from the usual once a week previously in a move meant to increase liquidity in the market and support the local currency.
Traders said bank customers were no longer willing to hold dollars after the central bank banned dollar cash deposits into domiciliary accounts.
“We expect to see more rallies in the market if the central bank could sustain its support for the naira,” Harrison Owoh, a bureau de change operator said, Reuters reported.
The naira was unchanged at the official interbank market at 197 to the dollar, where the CBN has maintained a tight control by pegging it to the rate of 197 to the dollar
The naira had weakened on the parallel market to as much as 245 to the dollar last month, on persistent dollar demand after central bank limited importers’ access to dollars on the official interbank market to buy a wide range of goods, in order to save the external reserves.
The local currency later rebounded to 216 at the parallel market as Deposit Money Banks started rejecting cash deposits in dollars a few weeks ago.
The naira had, however, weakened to about 223 last week before rising to 217 on Monday
Analysts expect the naira to continue rising, saying it is good for the economy.
The Head, Investment and Research, Afrinvest West Africa, Mr. Ayodeji Ebo, had said that the gains made by the naira was good for the economy, adding that it would help the CBN to gauge the true value of the currency in the event of a possible devaluation in the near future.
“If there is a convergence between the interbank and parallel market, the CBN may possibly review its restrictions imposed on the forex market,” he added.
A currency analyst at Ecobank Nigeria, Mr. Kunle Ezun, said if the trend continued, the naira might rise to as much as 200 against the dollar.
Source: The Punch
Picture Credit : Edebi Efemena
For allegedly being discriminated against, a 23-year-old albino, Ugochukwu Ekwe on Sunday committed suicide in the Festac area of Lagos State.
The incident occurred at 311 Road, B Close, after the deceased’s parents went to church.
It was alleged that the deceased had attempted suicide last month after complaining of the discrimination he suffered from people as a result of his pigmentation.
He was said to have been rescued by a friend who arrived early enough, but he succeeded on Sunday after refusing to follow his parents to church, it was learnt.
A source in the neighbourhood told The Nation that his parents discovered his body hanging on the ceiling fan when they returned from church.
He said: “On arrival from church, his parents were shocked to discover the body of their son hanging from the ceiling fan in one of the apartments.
“One of his siblings was said to have raised alarm which attracted curious neighbours.
“I was returning from church when I saw people gathered in front of the block of flats. When I enquired, I was told that Ugochukwu had committed suicide.
“He finished his secondary school education since 2009. I also learned he had threatened to take his life, saying he was frustrated.”
“Later, we saw some policemen from Festac division who removed the body.”
When contacted, spokesperson for the police command, DSP Patricia Amadin said she was yet to get details from the Area ‘E’ Commander, Frank Mba.
Source: The Nation