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Monday, 18 December 2017

PHOTOS: Thierry Henry visits Lagos, crowned ‘Igwe of football’

Naira depreciates to 365/dollar despite CBN interventions

The naira depreciated marginally by 0.55 per cent at the parallel market week-on-week to close at N365 on Friday.


The local currency had closed at 363/dollar last Friday.

Currency retailers and analysts said the development came on the back of increased demand was occasioned by activities heralding the Christmas and New Year celebrations.

This came despite the frequent interventions by the Central Bank of Nigeria.

The President, Association of Bureaux De Change Operators of Nigeria, Mr. Aminu Gwadabe, said the development was part of foreign exchange market fluctuations.

He said, “The spikes maybe as a result of the renewed political spending that is going to be a threat to naira stability; secondly, the differential exchange rates at the various official window is also discouraging genuine competition among operators which the parallel market always survived on.”

The interbank window of the nation’s foreign exchange market had last Tuesday received a boost of $210m from the CBN.

The interventions were made at the wholesale, the Small and Medium-scale Enterprises, and invisibles segments of the market.

The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, had said the bank offered the sum of $100m to the wholesale segment, while the SMEs and invisibles segments received the sum of $55m each.

He reiterated that the releases were meant to boost liquidity, trade and ease of remittances for legitimate personal commitments.

According to a currency analyst at Ecobank Nigeria, Mr. Kunle Ezun, the naira will likely depreciate further this week following the suspension of the Open Market Operations by the regulator.

He said, “Once you have interest rate at this low level, traders can avoid money to buy from the foreign exchange either for Christmas goods or to speculate. It has started from last week when naira closed against the Dollar at N365. For me, it might get to N370 if care is not taken.

“The stop in OMO sales by CBN might be revised soon and CBN might start issuing OMO to mop-up liquidity from the system.”

The naira also depreciated by 0.15 per cent to N360.96 at the Investors and Exporter Foreign Exchange window on Friday.

Total volume traded in the I&E FX window for the last week stood at $579.92m against $900.50m in prior week.

Inflows recorded during the week include Open Market Operation and Treasury Bills maturities valued at N70.83bn and N131.42bn, respectively, while outflows comprised foreign exchange and bond sales, valued at $210m and N77.59bn, respectively.

The overnight lending rate contracted weak-on-week by 192 basis points to 4.33 per cent, following improvement in system liquidity to N855.82bn, from N78.96bn in the previous week.

No civilian casualty in Boko Haram attack on food trucks – Army

The Nigerian Army on Monday denied the killings of civilians in an attack coordinated by the Boko Haram insurgents against the World Food Programme trucks on Saturday.

The Theatre Commander, Operation Lafiya Dole, Maj.-Gen. Rogers Nicholas, gave the clarification in a Short Service Message to newsmen in Maiduguri.

Nicholas said that the troops escorting the trucks had killed six insurgents and recovered weapons.

He explained that there were no civilian casualties in the attack, adding that he was at Dikwa when the incident occurred.

“There was an ambush but the soldiers killed six Boko Haram insurgents and recovered weapons. No civilian was killed.

“I was in Dikwa that Saturday and this happened while I was within,” Nicholas said.

However, the Wold Food Programme on Sunday said a driver of its hired truck and three other persons were killed in an attack at Ngala in Gamboru-Ngala Local Government Area of Borno.

Adedeji Ademigbuji, the Communication Associate of the WFP, said in a statement issued in Maiduguri that a convoy of the WFP’s hired trucks conveying food items were attacked by gunmen 35 kilometres South-West of Ngala on Saturday.

He disclosed that the convoy escorted by the military were conveying foodstuff for distribution to the vulnerable Internally Displaced Persons in the area.

He said that a driver of the hired truck, his assistant and two other persons were killed in the attack.

“WFP confirmed that a convoy escorted by the Nigerian Military including WFP hired trucks were subject of attack by armed groups, 35 km southwest of Ngala in Borno, on Dec. 16.

“Four people, including the driver of a WFP hired truck and his assistant, were killed in the incident.

“WFP is working with the authorities to determine the whereabouts of the trucks,” Ademigbuji said.

I will respond to allegation of double registration soon – Kogi Gov. Bello

"Buhari a man of God sent to save Nigeria

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Boko Haram: Wike breaks silence on $1bn ECA fund

‘No retreat, No surrender, I will contest Anambra governorship again’

Fayose borrowed N56billion in three years – Debt Management Office

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NLC tells governors what to do with final tranche of Paris Club Refunds

VIDEO: Osinbajo stirs controversy after helping accident victims

Buhari: I’m Happy with My Improved Health


President Muhammadu Buhari yesterday expressed happiness that his health condition has recorded excellent improvement.


The president who clocked 75 yesterday, thanked Nigerians for their concern and fervent prayers.

Though he did not organise any birthday celebration, his aides presented him with a birthday card at his resident in the Presidential Villa.

The planned parade to be mounted by the Brigade of Guards as part of activities to mark president’s birthday was cancelled.

The Chief of Staff, Abba Kyari and the Permanent Secretary State House, Jalal Arabia led the presidential aides to present a giant birthday card to him.

The card designed in green and white colours, had the president’s photograph with the inscription boldly written, “Happy Birthday, Mr. President” embossed on its cover.

After Kyari presented the card that had earlier been signed by all of them, the president took group photographs with them while they sang birthday songs.

Those who joined Kyari included Permanent Secretary, State House, Jalal Arabi; State Chief of Protocol, Abdullahi Kazaure; Special Adviser on Media and Publicity, Femi Adesina; Senior Special Assistant on Media and Publicity, Garba Shehu; Special Assistant on Domestic Affairs, Abba Sarki; Personal Assistant to the President, Tunde Sabiu; President’s Personal Photographer, Bayo Omoboriowo and the president’s security aides.

Also present to wish President Buhari happy birthday were Service Chiefs led by Chief of Defence Staff, General Abayomi Gabriel Olonisakin. Chief of Army Staff, Tukur Buratai; Chief of Naval Staff, I.E. Ibas and the Chief of Air Staff, Sadique Abubakar, accompanied the CDS.

Recall that President Buhari returned to the country on  August 19 after spending over 100 days in London on medical vacation.

He had also returned to London after attending the 72nd Session of the United Nations General Assembly (UNGA 72), in September.

Meanwhile, Senate President, Dr. Bukola Saraki; Edo State Governor, Godwin Obaseki; Delta State Governor, Ifeanyi Okowa; Sokoto State Governor, Aminu Tambuwal and Governor Umaru Tanko Al-Makura of Nasarawa State have congratulated Buhari.

Saraki in a tweet in his twitter handle, @bukolasaraki, prayed for wisdom and grace for the president.

“Happy Birthday Mr. President! I wish you the blessings of the Almighty, and continued wisdom and grace as you celebrate another year,” the tweet read.

Also, Obaseki described   Buhari’s leadership style as exemplary.

Commending his dedication to the cause of the common man, the governor said: “As you mark this day, we are inspired by your exemplary leadership, dedication to the course of the common man and relentless commitment to restoring the country’s greatness.”

He further said the perception of Nigeria by the international community is fast changing for the better, as many countries now believe that our problems as a country are not beyond us.

On his part, Okowa in a statement issued in Asaba by his Chief Press Secretary, Charles Aniagwu, eulogised the Nigerian leader for his patriotic and unrelenting service to the country.

He said: “On the occasion of your 75th birthday anniversary on December 17, 2017, I write to heartily rejoice with you and your family on behalf of the government and people of Delta State,” Okowa said.

Tambuwal in a message issued by his spokesman, Malam Imam Imam, said Buhari has paid his dues in the Nigerian polity, and prayed to God to continue to bless the life of the President.

“Attaining 75 years in life calls for thanks giving and expression of gratitude to God. I am glad the Almighty Allah has blessed our president with long life and good health.

“No doubt, the president has proven himself to be a leader of high ethics and morality. We in Sokoto State join all Nigerians in wishing the president a happy birthday,” Tambuwal said

In the same vein, Imo State Governor,  Rochas Okorocha, has commended Nigerians for their wise decision to elect Buhari president in 2015, while stating that landslide victory awaits him in 2019.

He described the president as the man God had used to save the country from  collapse,  saying “because at the time Buhari became president, the country was at the verge of being grounded unknown to some people.”

He also commended Nigerians who voted in 2015 to make Buhari president and concluded that the president has done well to justify the mandate given to him by Nigerians, explaining that God will continue to keep President Buhari alive because He wants him (Buhari)  to finish the good works he is doing for Nigeria’s greatness.

In his message, Governor Umaru Tanko Al-Makura of Nasarawa State described Buhari as a man of uncommon credibility and integrity who undoubtedly came to rescue Nigeria from the brink of collapse and hopelessness.

A statement signed by his Chief Press Secretary, Musa Elayo, quoted Al-Makura  as commending the president for his effort and commitment to carry out the much needed cleansing of the country of corruption and other social vices.

Al-Makura said: “The achievements recorded so far by the President are clear indications of his vision for a better Nigeria and therefore Nigerians should be patient with him. Though the road is rough and turbulent, the journey to prosperity and greatness that will ensure.

Four killed as Boko Haram attacks UN team in Borno

NANS congratulates Buhari at 75, backs anti-corruption‎ war

FG pleads with PENGASSAN to call off strike

Estate agent who helped Diezani buy properties in UK arrested

Sultan of Sokoto reacts to hijab ban, blasts Nigerian Law School

Nigerian Senate blasts TCN for spending N738m to clear abandoned goods

David Mark to account for N5.4bn