The naira, yesterday, depreciated to N281.85 per dollar in the interbank foreign exchange market as the Central Bank of Nigeria, CBN, sold $4.02 billion to clear the backlogs of matured foreign exchange obligations of banks.
Monday, 20 June 2016
Ramadan Day 15: Let generosity reach its peak!
As-salam alaykum waramotullahi wabarakatuh!
Let your generosity this Ramadan be like the ferocious wind, stepping down on anything that comes to break its resolve and determination. This was the level of generosity of Prophet Muhammad (s.a.w) in the month of Ramadan.
Constituency projects avenue for funds diversion —FG
THE Federal Government, yesterday, said constituency projects, which the members of the national and state assemblies scramble to put in the budget every fiscal year, had been an avenue for embezzlement and diversion of funds.
Senate queries CBN, others over N120bn bailout for aviation sector
ABUJA—THE Senate, yesterday, faulted the Central Bank of Nigeria, CBN, on its roles in the alleged mismanagement of N120 billion released to the aviation sector out of the N500 billion intervention fund by the Federal Government in 2011.
Nigeria loses $2bn to foreign shippers
Chairman of the Ministerial Committee on Modalities for the Establishment of Nigeria Fleet, Engr. Ola Akinsoji, has said the country lost over $2 billion to foreign ships in 2014.
Herdsmen kill policeman, 2 others missing in Adamawa
Yola—Suspected Fulani herdsmen have killed a police Sergeant simply identified as Aminu, while two others have been declared missing in Batare of Koh community in Girei Local Government Area of Adamawa State.
Euro 2016: Frustrated England progress after Slovakia draw
Roy Hodgson’s England secured their place in the last 16 of Euro 2016, but lost their status as Group B winners, after being held to a goalless draw by Slovakia on Monday.
Iheanacho not sure of Rio Olympics
Kelechi Iheanacho’s participation at the forthcoming Olympic Games has been cast in a mist of doubt after it emerged he is expected to resume pre-season with Manchester City rather than join the Nigeria Olympic team.
CBN to clear backlog of forex demand
Abuja – The Central Bank of Nigeria has announced plans to clear all existing backlog of Foreign Exchange (forex) demand in the country prior to take off of its flexible foreign exchange policy.
The Acting Director of Communications, CBN, Mr Isaac Okorafor, said this to newsmen on Monday in Abuja.
He said that the move was to ensure the survival of the inter-bank forex trading under the new forex guidelines, which took effect from Monday, June 20.
The CBN forex backlog is estimated at four billion dollars.
Okorafor said that all existing legitimate forex demand for imports, school fees and medicals, among others, would be met.
“In order to engender confidence, ensure credible price formation and sustain the integrity of the Nigerian inter-bank forex market, the CBN has resolved to clear all the back log of forex demand in the country.
“This will be done through spot and forward settlements,” he said.
Donald Trump sacks campaign manager
Republican presidential hopeful Donald Trump on Monday shook up his White House bid as he looks to a November showdown with Hillary Clinton, letting go his controversial campaign manager.
Corey Lewandowski — who had led the real estate mogul’s campaign from the start and was credited with Trump’s initial breakthrough in the primaries — has recently been sidelined, with more experienced political operatives taking over in the run-up to November 8.
Lewandowski courted controversy earlier this year over a March run-in with a reporter at a Trump rally. She accused him of roughly grabbing her, leaving bruises, but he denied that account. Florida prosecutors opted to drop all charges.
“The Donald J. Trump Campaign for President, which has set a historic record in the Republican primary having received almost 14 million votes, has today announced that Corey Lewandowski will no longer be working with the campaign,” spokeswoman Hope Hicks told The New York Times in a statement.
Euro 2016: Torn Jerseys: I hope Puma don’t make condoms, says Shaqiri
Switzerland winger Xherdan Shaqiri said he hoped sportswear maker Puma “doesn’t make condoms” after several Swiss players ended their Euro 2016 match with France with shredded jerseys.
The German company blamed a material flaw after four Swiss players – Admir Mehmedi, Breel Embolo, Blerim Dzemaili and Granit Xhaka – had to change their shirts in the first half of the goalless draw in Lille on Sunday.
Recent Arsenal recruit Xhaka had to change his shirt again in the second half.
“I hope Puma doesn’t make condoms,” Shaqiri told Switzerland’s SRF broadcaster.
Euro 2016: Last-16 berth in sight for Poland
Robert Lewandowski’s Poland take on Ukraine on Tuesday in the final Euro 2016 Group C match for both sides with a draw enough to take the Poles through to the knockout stages.
N5.1bn fraud: Jonathan’s former aide, Dudafa gets N500m bail
Lagos – A Federal High Court in Lagos on Monday granted bail to Warpamo Dudafa, a former Special Adviser on Domestic Affairs to ex-President Goodluck Jonathan, in the sum of N500 million.
I’m being investigated by my successor, says Babangida Aliyu
Former Governor of Niger State, Mu’azu Babangida Aliyu has disclosed that he is being investigated, saying investigations into the financial activities of his administration by the Governor Abu Sani Bello government of the state is necessary to keep the records straight.
PSC approves promotion of 4,542 Police officers
The Police Service Commission, Monday approved the promotion of 4’542 senior Police officers to their next rank between May and June 2016.
The breakdown of the promotions are as follows; CP to AIG 7, DCP to CP 6, ACP to DCP 20, CSP to ACP 8, SP to CSP 107, DSP to SP 1,431, ASP to DSP 1,252 and INSP to ASP 1,711.
A statement signed Ikechukwu Ani, head of public relations said, “Out of this number, the Commission approved special promotion for 16 Officers based on exceptional performance and dedication to duty on the recommendation of the Inspector General of Police.
Braking News: Osagie Ize-Yamu wins Edo PDP primaries
Benin – Mr Osagie Ize-Iyamu, on Monday emerged the candidate of the Peoples Democratic Party (PDP) for the Sept. 10 governorship election in Edo.
In the result of the primaries announced by Gov. Dave Umahi of Ebonyi, Chairman of the committee that conducted the exercise, Ize-Iyamu polled 584 votes to defeat two other aspirants.
His closest opponent, Mr Mathew Uduoeyekemwen, according to Umahi, scored 91 votes while Chief Solomon Edebiri polled 38 votes.
Ondo Gov Poll: NYSC DG warns corps members against partisanship
ABUJA – The Director-General, National Youth Service Corps (NYSC), Brig-General Suleman Kazaure, has warned Corps members deployed to Ondo State against any form of partisanship during the state’s gubernatorial election due in November this year.
EFCC asked to investigate 38 sacked Army officers
The Economic and Financial Crimes Commission, EFCC, has said that it will launch a probe into the activities of the 38 soldiers, who were compulsorily retired by the Nigerian Army recently.
The soldiers were retired last week by the military authorities following their alleged involvement in the arms deal fraud.
MTN appoints new chief after Nigerian fiasco
South Africa-based Telecoms giant MTN on Monday named a new chief executive after resolving a dispute with Nigeria over a huge fine for failing to disconnect millions of unregistered mobile phone lines.
MTN announced that Rob Shuter, a South African who is currently the Vodafone Europe CEO, will take over as its new group president and CEO next year.
Africa’s biggest wireless operator, MTN said in a statement that “following the successful resolution of the Nigerian dispute, it has completed the review of its governance and management structures.”
N1.04trn MTN Fine: Senate summons AG, CBN gov, Accountant General, others
ABUJA—THE Senate has taken a swipe at the executive arm of the government over the alleged manner MTN’s N1.04 trillion fine was reduced to N330 billion.
It described the reduction as short changing the country and therefore summoned the Attorney General, Governor of Central Bank, Minister of Communications and Accountant General of the federation, to come and explain their roles in the affair.
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