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Post Date : April 17, 2024

Oyo demolishes Yoruba Nation agitators’ building

  Oyo State Government, on Wednesday, demolished the building where the Yoruba Nation agitators led by Modupe Onitiri-Abiola are operating from in Ibadan, the state capital. PUNCH Online reports that some masked persons, who invaded the state secretariat, Agodi, Ibadan, on Saturday morning, were arrested by the joint security personnel who were drafted to demobilise them. The building was said to be located on Toye Oyesola Street in the Ibadan South West Local Government Area of the state. When PUNCH correspondent contacted the Special Adviser to the Governor on Security Matters, CP Fatai Owoseni (retd.), on the telephone, he confirmed the demolition but declined further comment. “You can get more details from the Commissioner of Police,” he simply said. Details later…

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Post Date : April 17, 2024

EFCC Operatives Lay Siege To Yahaya Bello’s Abuja Residence

  Dozens of operatives of the Economic and Financial Crimes Commission (EFCC), on Wednesday, cordoned off the street where the Abuja residence of a former governor of Kogi State, Yahaya Bello, is. Our correspondent, who visited Benghazi Street in Wuse Zone 4, Abuja, reports that the stern-looking operatives of the anti-graft agency did not allow movement in and out of the street.   Daily Trust could not immediately ascertain their presence on the street but a highly-placed official of the EFCC confided in our correspondent that the operation was being carried out to arrest the former governor. When asked further why the operatives wanted to arrest the former governor, the official, who didn’t want to be quoted moved away from our correspondent. It was learnt that the operatives’ presence was not unconnected with the N84 billion fraud case against Yahaya which the anti-graft agency is currently prosecuting. Attempts to reach out to the EFCC spokesman, Dele Oyewale, proved futile as calls to his mobile phone were not answered. He is yet to reply a text message sent to him as at when filing this report.

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Post Date : April 17, 2024

Nigeria’s FX reserves drop to $32bn — lowest level in six years

  Nigeria’s foreign reserves fell to $32.29 billion on April 15 — the lowest level in over six years. According to the latest data from the Central Bank of Nigeria (CBN), TheCable Index observed that on March 18, the reserves moved from $34.44 billion — the highest level in 2024 — to $32.2 billion on April 15. The foreign reserves dropped by $2,15 billion or 6.26 percent. This brings to an end, a period of steady increase between February 5 and March 18, when the FX reserves rose by $1.28 billion. It had attributed the growth to increased remittance payments from Nigerians abroad and heightened interest from foreign investors in local assets, including government debt securities. The last time the foreign reserves stood at this level ($32.29 billion) was on September 9, 2017, when the CBN reported N32.28 billion. The decline in foreign reserves comes amid CBN intervention in the parallel market in a bid to crash the FX rate. On February 27, the apex bank allocated $20,000 to each bureau de change (BDC) operator at the rate of N1,301/$, while the second tranche of $10,000 was sold to the BDCs at the rate of N1,251/$. On April 8, the apex bank began the third tranche of sales to BDCs at N1,101/$. Amid this intervention, the naira appreciated against the dollar in the parallel market, moving from N1,900 per dollar on February 21, to N1,100/$ on April 13. During the same period, the local currency, at the official window, recovered to N1,136.04/$ per dollar, from N1,551.24/$.

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Post Date : April 17, 2024

Russian Troop Losses In Ukraine Hit 50,000

  More than 50,000 Russian military personnel have died during the Ukraine conflict, the BBC reported Wednesday, citing its own reporters, independent media group Mediazona and volunteers. They found that more than 27,300 Russian soldiers died during the second year of the war, a 25-percent increase on the first year. BBC Russian, Mediazona and volunteers have been counting deaths since February 2022, using open-source information from official reports and the media, as well as using satellite images of Russian cemeteries to estimate the number of new graves. The figure of more than 50,000 is eight times higher than the official toll acknowledged by Moscow in September 2022. It does not include deaths of militia in Donetsk and Lugansk in eastern Ukraine.   Ukraine said in February that it had lost 31,000 soldiers, but that figure is also likely to be significantly lower than the true toll. Russian losses spiked in January 2023 as it launched a large-scale offensive in Donetsk and again months later last year during the battle for the city of Bakhmut. Russian President Vladimir Putin announced a “special military operation” at dawn on February 24, 2022, which has since turned into a bloody and attritional war, isolating Russia from the Western world. Responding to the report, the Kremlin said it did not disclose any information on military deaths and casualties, which falls under the remit of the defence ministry.   Kremlin spokesman Dmitry Peskov added official secrets laws and those covering what Russia calls its “special military operation” in Ukraine meant it was “absolutely understandable” that the ministry did not release the figures.

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Post Date : April 17, 2024

PDP NWC Passes Vote Of Confidence In Damagum

  The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has passed a Vote of Confidence on the Party’s Acting National Chairman, Amb. Umar Iliya Damagum. The decision of the NWC which came at the end of its 584th meeting at the Party’s National Secretariat on Tuesday, April 16, 2024 is in commendation of the efforts and commitment of the Acting National Chairman to stabilize and reposition the PDP as the main opposition Party in Nigeria. The Deputy National Chairman (South) Amb. Taofeek Arapaja presided over the motion for Vote of Confidence on the Acting National Chairman which was moved by the National Vice Chairman (South East) Chief Ali Odefa and seconded by the National Treasurer, Hon. Yayari Mohammed. The NWC in a statement through the Party’s spokesman, Debo Ologunagba, assured of its commitment in ensuring the continued stability, growth and success of our great Party at all time

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Post Date : April 17, 2024

FG Vows Clampdown On Traders Inflating Commodity Prices

  The Federal Government has vowed to take stringent regulatory measures against traders “unfairly inflating prices” of goods and commodities. The government, through its agency, the Federal Competition and Consumer Protection Commission (FCCPC), expressed worry that despite the recent appreciation of the Naira against the dollar, consumers continue to face escalating costs without a corresponding decrease in prices of goods and commodities. “This situation is unacceptable, and the FCCPC is committed to protecting consumers from exploitation,” the Commission’s chief Adamu Abdullahi said in a statement on Wednesday. “The FCCPC understands the significant financial strain these rising prices are placing on Nigerian households. As a result, the Commission is taking proactive steps to address this issue. “While the FCCPC cannot directly regulate prices, the Commission will utilise its existing legal framework to enforce fair competition and consumer protection provisions. “This includes monitoring and investigating unusual price hikes, addressing complaints filed by consumers, and taking action against any businesses found to be engaging in anti-competitive practices such as price-fixing, price gouging or cartel formation.” The Commission said its operatives have been directed to intensify monitoring of both formal and informal markets, where businesses may be taking advantage of market conditions to unfairly inflate prices, and ramp up enforcement activities. “The operatives will be working collaboratively with trade associations, farmer groups, and other stakeholders to identify and remove unnecessary barriers to entry in various sectors, combat price-fixing, and dismantle cartels. This will encourage increased competition, ultimately leading to lower prices for consumers.”

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Post Date : April 17, 2024

70 Killed As Afghanistan Hit By Heavy Rains

  Around 70 people have been killed by heavy rains lashing Afghanistan over the past five days, the government’s disaster management department said Wednesday. Afghanistan was parched by an unusually dry winter which desiccated the earth, exacerbating flash-flooding caused by spring downpours in most provinces. Disaster management spokesman Janan Sayeq said “approximately 70 people lost their lives” as a result of rains between Saturday and Wednesday. Fifty-six others have been injured, he said, while more than 2,600 houses have been damaged or destroyed and 95,000 acres of farmland wiped away. Giving a smaller death toll last week, Sayeq said most fatalities at that point had been caused by roof collapses resulting from the deluges. Neighbouring Pakistan has also been hammered by spring downpours, with 65 people killed in storm-related incidents as rain falls at nearly twice the historical average rate. The United Nations last year warned that “Afghanistan is experiencing major swings in extreme weather conditions”. After four decades of war the country ranks among the nations least prepared to face extreme weather events, which scientists say are becoming more frequent and severe due to climate change. At least 25 people were killed in a landslide after massive snowfall in eastern Afghanistan in February, while around 60 were killed in a three-week spate of precipitation ending in March.

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Post Date : April 17, 2024

Dubai Reels From Floods Chaos After Record Rains

  Dubai’s giant highways were clogged by flooding and airport passengers were urged to stay away on Wednesday as the glitzy financial centre reeled from record rains. Huge tailbacks snaked along six-lane expressways after up to 254 millimetres of rain — about two years’ worth — fell on the desert United Arab Emirates on Tuesday. At least one person was killed after a 70-year-old man was swept away in his car in Ras Al-Khaimah, one of the country’s seven emirates, police said. Passengers were warned not to come to Dubai Airport, the world’s busiest by international traffic, “unless absolutely necessary”, an official said. “Flights continue to be delayed and diverted… We are working hard to recover operations as quickly as possible in very challenging conditions,” a Dubai Airports spokesperson said. Dubai’s flagship Emirates airline cancelled all check-ins on Wednesday as staff and passengers struggled to arrive and leave, with access roads flooded and some metro services suspended. At the airport, long taxi queues formed and delayed passengers milled around. Scores of flights were also delayed, cancelled and diverted during Tuesday’s torrential rain. The storms hit the UAE and Bahrain overnight Monday and on Tuesday after lashing Oman, where 18 people were killed, including several children. Climatologist Friederike Otto, a specialist in assessing the role of climate change on extreme weather events, told AFP it was “highly likely” that global warming had worsened the storms. Official media said it was the highest rainfall since records began in 1949, before the formation of the UAE in 1971.

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Post Date : April 17, 2024

Protesters Storm PDP Headquarters, Back Damagun, Wike

  Protesters on Wednesday flooded the premises of the national headquarters of the Peoples Democratic Party (PDP) in Abuja, throwing their support for the Acting National Chairman of the Party, Umar Damagun; and the Minister of the Federal Capital Territory (FCT), Nyesom Wike. The protesters, who displayed placards with various inscriptions, pledged support for Wike and Damagun, alleging that some people within the PDP are trying to cause disaffection among the leadership. The protest occurred barely an hour before the meeting of the PDP Governors Forum, and 24 hours before the PDP National Executive Committee (NEC) meeting of the party, where issues regarding the leadership of the PDP are expected to be discussed. The, PDP has of late, been rocked with agitations from some of its members, who called for the resignation of the National Working Committee (NWC) over alleged failure to lead the party aright. In a related development, the NWC on Wednesday passed a vote of confidence in Damagun, assuring its members of continued stability, growth and success of the party. The decision of the NWC which came at the end of its 584th meeting at the party’s National Secretariat on Tuesday also commended the efforts of the acting national chairman to stabilise and reposition the PDP as the main opposition party in Nigeria.

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Post Date : April 17, 2024

Cubana Chief Priest Pleads Not Guilty, Granted ₦10m Bail

  Popular Instagram celebrity Pascal Okechukwu also known as Cubana Chief Priest has pleaded not guilty for alleged naira abuse. He pleaded not guilty to the three-count charge filed against him by the Economic and Financial Crimes Commission (EFCC). The socialite was arraigned at the Federal High Court, Lagos before Justice Kehinde Ogundare on Wednesday. The anti-graft commission filed a three-count charge against Cubana Chief Priest accused of abusing the naira at a social event, an act said to be contrary to the provisions of the Central Bank Act of 2007. After he pleaded not guilty, the court granted him bail in the sum of ₦10m with two responsible sureties in like sum who must be gainfully employed with the federal or state government and not less than grade level 16. The sureties are to have landed property and the document must be verified by the court. Cubana Chief Priest is also to submit his travel passport to the custody of the court. The bail conditions must be perfected within seven days but in the meantime he was released to his lawyer who must give an undertaken to produce him later. Failure to do so, he will be remanded in correctional facility. Channels Television obtained a copy of the charge which was filed on April 4th by EFFC’s prosecutor Rotimi Oyedepo (SAN) alongside seven other lawyers representing the chairman of the Commission. In Count 1, it was alleged, “that you, Okechukwu Pascal on 13th Feb. 2024, at Eko Hotel, within the jurisdiction of the court, while dancing during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”. In count 2, it was alleged, “that you Okechukwu Pascal sometime in 2020, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours, and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”. In Count 3, it was alleged, “that you Okechukwu Pascal sometime in January 2024, in Lagos during a social event, tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same and you thereby committed an offence, contrary to and punishable under Section 21(1) of the Central Bank Act 2007”. Meanwhile, the defendant also informed the court of his pending application to challenge the jurisdiction of the court to hear the charge. Justice Ogundare has adjourned till May 2nd to hear the application. This is coming days after the EFCC arraigned controversial cross-dresser Idris Okuneye better known as Bobrisky on similar charges for which he was sentenced to a six-month jail term.

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