Crime Facts

Naira appreciates against dollar at official window, parallel market

  The naira, on Monday, appreciated to N1,120 per dollar at the parallel section of the foreign exchange (FX) market. The current FX rate signifies a decrease of 9.67 percent from the N1,240/$ reported on April 3. Bureau de change (BDC) operators, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,100 and the selling rate at N1,120 — leaving a profit of N20. At the official window, the local currency appreciated by 1.63 percent to N1,230.61/$ on Monday, from N1251.05/$ on April 5. FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), also known as the official window, reported a turnover of $125.55 million. At the end of trading, the gap between the parallel market and the official window rates stood at N110.61. Meanwhile, on March 10, Goldman Sachs had predicted that the naira would appreciate to N1,200 against the dollar in the next 12 months We thus see reason for the Naira to be undervalued, and we see it appreciating to 1200 within the next 12 months,” Goldman Sachs said. Goldman Sachs said Nigeria is “turning the corner” following its recent currency crisis. The naira has been depreciating amid the Central Bank of Nigeria’s (CBN) intervention in the foreign exchange market. In February, CBN sold $20,000 to each BDC at the rate of N1,301/$. However, in March, the apex bank sold $10,000 to each BDC at the rate of N1,251/$. The rate CBN sold dollars to BDC operators was further reduced to N1,101/$1 on Monday when the apex bank announced plans to sell $10,000 to the BDCs.

Nigeria’s inflation rate to remain high in 2024 — World Bank

  The World Bank, yesterday, said that Nigeria’s inflation rate will remain high at 24.8 percent year-on-year, YoY, in 2024. The World Bank’s projection, however, is lower than February 2024 inflation, which stood at 31.7 percent.   The World Bank also reaffirmed its projection of 3.3 percent economic growth for the country in 2024 and reduced its projection for 2025 to 2026 by 0.1 percentage points to 3.6 percent from its January projection of 3.7 percent. In its Africa’s Pulse Report, April 2024 edition, released yesterday, the Bretton Woods institution stated: “Growth in Nigeria is projected at 3.3 percent in 2024 and 3.6 percent in 2025–26 as macroeconomic and fiscal reforms gradually start to yield results. “A more stable macroeconomic environment, as the reforms’ initial shock dissipates, will lead to sustained but still slow growth of the non-oil economy. “The oil sector is expected to stabilize with recovery in production and slightly lower prices. “Structural reforms will be needed to foster higher growth. “Average inflation will remain elevated at 24.8 percent in 2024, although it is expected to ease gradually to 15.1 percent by 2026 on the back of monetary policy tightening and exchange rate stabilization”. According to the World Bank, food inflation and the weakening of domestic currencies are still major drivers of inflation across countries in the Sub Saharan Africa region. It added: “By February 2024, about one third of the Sub-Saharan African countries with monthly available food price information (14 of 40 countries) had double-digit year-on-year rates of food inflation, with the fastest increases experienced in Ethiopia, Malawi, Nigeria, Sierra Leone, and Zimbabwe.” It also noted that the rate of poverty reduction in the region is slow and that Nigeria and the Democratic Republic of Congo account for one in three of those living in extreme poverty. “The region also faces the triple challenges of high extreme poverty, high inequality, and low transmission of growth to poverty reduction. “The speed of poverty reduction has decreased tremendously since 2014. The rate of reduction was 3.1 percent between 2010 and 2014, subsequently decreasing to 1.2 percent between 2014 and 2019. “In contrast, the rest of the world reduced extreme poverty on average by 9.2 percent per year within the same time horizon, suggesting that the Africa region is falling further behind. “In addition, there is substantial regional heterogeneity in where the poor are with Nigeria and the Democratic Republic of Congo accounting for one in three of those living in extreme poverty.” It added that the region can accelerate growth and poverty reduction substantially by tackling inequality, specifically structural inequality.

Kidnappers abduct UNIZIK student in Anambra

  A student in the Department of Science Education, Nnamdi Azikiwe University (Unizik) Awka, Anambra, Ms Francisca Chioma, has been reportedly kidnapped in the State. According to TribuneOnline, it was gathered that the student was kidnapped while en route to a burial ceremony in a village outside Awka, on Friday. According to a close friend and schoolmate who preferred anonymity, Chioma’s whereabouts have remained a mystery since Friday. There are growing fears that she may have been abducted, particularly along the Omasiuno area of the State. Attempts to reach her via phone have proven futile, with her line continually unresponsive. Emma Ojukwu, the Special Assistant on Public Relations Matters and Special Duty to the Vice-Chancellor, Prof. Charles Esimone, redirected inquiries to the university’s security department. Subsequently, the Chief Security Officer of the University, Ken Chukwurah, confirmed the distressing development. Chukwurah stated, “Yes it is true. DSS has been fully in the picture since yesterday. We are working with them. We got information that one of our students was on her way to attend a funeral ceremony in a village outside Awka when the incident happened and since then she has not been found.” He emphasized that the incident did not transpire within the school premises but during Chioma’s journey to the funeral. Chukwurah revealed that relevant security agencies have been alerted, and the kidnappers have made contact with the family. However, it remains unclear if any ransom demands have been made. The State Police Public Relations Officer, SP Tochukwu Ikenga, when contacted, said the Command has no such information. “No, there is nothing reported to us. You can see it is DSS,” Ikenga reacted.

Police hunt for 2Baba’s ally, ‘General’ 2man, in Rivers

  The CP Olatunji Disu-led Rivers State Police Command has taken its war against cultism to the camp of one Ikem Thankgod notoriously called General 2man, known as a close ally to 2Baba, the neutralised killer of the Divisional Police Officer (DPO), SP. Bako Angbasim. General 2man was said to be a terror in the Ahoada West Local Government Area and neighboring local government areas with one of his nefarious activities being the shooting to death of Inspector Usang Ude on April 13, 2023. A team of police officers was reportedly deployed to the Ogbologbo community in Ahoada West on Monday to bring an end to the reign of terror of General 2man. The Police Public Relations Officer (PPRO), SP. Grace Iringe-Koko, said during the operation, General 2man and his gang opened fire on the police tactical team. The statement said though the kingpin evaded arrest, his second-in-command, ThankGod Uchechi aka, ‘Pastor SP,’ and his third-in-command, ‘Western King’ Okpo Emenike were fatally wounded. Many gang members reportedly escaped with gunshot injuries while two loaded AK-47 rifles and eight magazines were recovered from the gang. Concerted efforts were said to be on top gear to bring General 2man and his fleeing gang members to justice and put an end to his reign of terror. The statement listed most of the nefarious and brutal activities of the fleeing kingpin. The statement said: “On March 5, 2024, he also murdered four persons, namely, Henry Kirirka, Patience Henry, Abigail Victor, and Chigozie Okpo. He also slaughtered one Samuel Philip without provocation. Last month, he buried several persons alive, including Christmas Ede and Agode Gamany. Advertisement “He has carried out a lot of kidnapping activities within and outside the Ahoada West Local Government Area. His catalogue of criminal activities also includes armed robbery and vandalisation of valuable properties. “He coordinates the deroofing of public buildings and the selling of the roofing sheets. He also constituted himself as an authority that approves social events within the Local Government Area. This has made him attack and disrupt weddings, burials, etc., which he did not approve of”. The statement described the development as a giant step in its ongoing onslaught against cultism and other related crimes in the state. “The Commissioner of Rivers State Command, CP Olatunji Rilwan Disu psc , while commending the tactical team for their efforts, reiterates his commitment to fighting crimes in the state. He equally urged members of the public to feed the police with reliable information that could lead to the arrest of the fleeing suspects and other criminal elements in the state”, the statement said.

Sultan declares Wednesday Eid el Fitr, as new moon not sighted

  His eminence Sultan Muhammad Sa’ad Abubakar and president General Nigeria Supreme council for Islamic affairs (NSCIA) has declared Wednesday the 10th of April 2024 as the first day of Shawwal 1445AH (Eid el Fitr Day) as moon is not sighted anywhere in Nigeria. Sultan made the statement shortly after receiving the Sultanate Council Advisory Committee in Religious Affairs in conjunction with the National Moon Sighting Committee. The committee in their report stated that it had not received any report from various moon sighting committees across the country confirming the sighting of the new moon of Shawwal 1445AH on Monday 8th April 2024 which was the 30th day of Ramadan 1445AH. The statement further reads, “Tuesday 9th April 2024 is the 30th day of the month of Ramadan 1445AH. His eminence the Sultan after accepting the report, declared Wednesday 10th April 2024 as the first day of Shawwal 1445AH (Eid el Fitr Day) accordingly.”

NLC sacks Abure’s NWC, to audit LP accounts

  The Nigeria Labour Congress, on Monday, voided the national convention that returned the National Chairman of Labour Party, Julius Abure, and his National Working Committee back to office To fill the vacuum, the stakeholders said the congress will set up a transition committee to oversee the affairs of the party pending when new officers will be elected in three months. In attendance at the gathering were representative of the Chairman of NLC Political Commission, Prof Theophilus Ndubuaku ; former President of Nigeria Labour Congress, Abdulwahed Omar; Chairman, LP Board of Trustees, Sylvester Ejiofor; Coordinator of Obidient Movement, Dr. Moses Paul and LP Plateau Governorship Candidate, Chief Yohana Margif. Others are Coordinator of Labour Party Patriotic Members Congress, Dr. Kingsley Okundaye; Kaduna LP Governorship Candidate, Jonathan Asake and representative of Persons with Disability in Labour Party, Ihekwoaba Paul. The resolution taken by the unionists on Monday also raised concerns on the need to conduct a forensic audit of LP in line with the demand of its presidential candidate, Peter Obi, following allegations of corruption, forgery and fraud levelled against the leadership of the party. These were contained in the communique released after the NLC stakeholders meeting and made available to The PUNCH. The communique partly read, “”Owing to the current vacuum in the leadership of the Labour Party, the NLC Political Commission consequent on its status in the Constitution of the Labour Party as a registered trustee of the Labour Party, a status that was further buttressed by a Federal High Court consent judgment delivered on March 20, 2018 by Justice Gabriel Kolawole, moved for an immediate constitution of a transition committee with a mandate to set up structures at national, state, local government and ward level for the conduct of an all-inclusive and expansive national convention of the Labour Party. “The stakeholders meeting passed a vote of no-confidence on the purported Labour Party national convention held in Nnewi, Anambra State and regards as inconsequential the leadership that claims to have emerged from the illegal Nnewi Convention. INEC and all relevant security organisations are hereby notified and should be officially written immediately to recognise the transition committee as the interim leadership of LP pending the conduct of an all-inclusive and expansive national convention “The committee once constituted should fully take over the secretariats of the Labour Party all over Nigeria and shall immediately set up an assets recovery process of all the properties of the Labour Party. The committee shall also ensure that all the cases of fraud, impersonation and forgery of government documents pending against a few discredited former officers of the Labour Party are forensically audited and culprits are diligently prosecuted as demanded by leader of the Labour Party, Mr. Peter Obi. It is unfortunate that the actions of these few dishonourable characters have splashed mud on the white satin of Labour Party. “Pursuant to the foregoing, the committee shall within three months of its constitution ensure the conduct of an inclusive national convention of the party starting from ward congresses to local government congresses to state congresses culminating in an all-inclusive and expansive national convention in Abuja. Finally, we reiterate that the Labour Party is a Party for all Nigerians regardless of ethnic, religious, regional, social and economic orientation or status.” When called for reaction, the National Publicity Secretary of the party, Obiora Ifoh, said the NWC cannot be intimidated by the NLC stakeholders and their ‘co-travellers.’ He said, “We are not interested in whatever they do and LP won’t give credence to any statement they issue. You can imagine the level of impunity with which these people are acting. They have no power to do anything.” The vote of no confidence passed on Abure and his NWC comes few hours after scores of LP supporters took to the streets of Abuja to protest harassment and continuous interference in the affairs of the party. The protesters, who went carrying placards with various inscriptions that read “If you are not for Abure, go and seek another political party” and “Abure is our chairman”, vowed to resist any attempt to take over control of the party. Solidarity songs of ‘We want Abure’ rent the air as the protest march took off from the new Federal Capital Territory chapter of the party secretariat to the Gudu venue of the NLC stakeholders meeting. They were, however, prevented by security operatives from gaining access to the premises.

Betta Edu: EFCC recovers N30bn, probes 50 bank accounts

  The Economic and Financial Crimes Commission is probing 50 bank accounts, as it recovered N30 billion in the case of the suspended Minister of Humanitarian Affairs, Betta Edu, and the ongoing probe of the ministry over alleged money laundering. The latest development was revealed in a bulletin titled, “EFCC Alert,” detailing some major arrests, prosecutions, and recoveries made by the commission within the last month. The document authorised by the EFCC Chairman, Ola Olukoyede, which was obtained by our correspondent on Monday, revealed that the recovered N30bn is now in the Federal Government’s coffers The document reads, “Update on Betta Edu investigation. We have laws and regulations guiding our investigations. Nigerians will also know that they are already on suspension, and this is based on the investigations we have done, and President Bola Tinubu has proved to Nigerians that he is ready to fight corruption. “Moreover, concerning this particular case, we have recovered over N30 billion, which is already in the coffers of the Federal Government. “It takes time to conclude investigations; we started this matter less than six weeks ago. Some cases take years to investigate. There are so many angles to it, and we need to follow through with some of the discoveries that we have seen. Nigerians should give us time on this matter; we have professionals on this case, and they need to do things right. There are so many leads here and there. “As it is now, we are investigating over 50 bank accounts that we have traced money into. That is no child’s play. That’s a big deal. Then you ask about my staff strength. “And again, we have thousands of other cases that we are working on. Nigerians have seen the impact of what we have done so far, by way of some people being placed on suspension and by way of the recoveries that we have made. You have seen that the programme itself has been suspended. We are exploring so many discoveries that we have stumbled upon in our investigation. “If it is about seeing people in jail, well let them wait. Everything has a process to follow. So Nigerians should wait and give us the benefit of the doubt.”   The EFCC further called for a united front in the fight against corruption while urging the judiciary and legislative arms to assist the commission in its anti-corruption fight. Olukoyede added, “Nobody can fight the corruption war alone. So, we want Nigerians to believe in our capacity to fight this battle. We must also come together and agree that corruption is bad, and so when we are prosecuting corrupt persons, Nigerians should believe in it. “We expect Nigerians to also appeal to their conscience because the negative impact of corruption is all over for all to see. So we must agree that what is wrong is wrong. “I also appeal to other stakeholders – the National Assembly and the judiciary to support us in this mission. Every Nigerian must be a corruption fighter. When you see something wrong, say something. Challenge corrupt politicians in your locality. Take them up. Take your governors up on the allocations they receive and make them accountable. By so doing, you will be supporting the fight against corruption.”

Report: NNPC owes $3bn backlog on petrol payments to fuel traders

  The Nigerian National Petroleum Company (NNPC) Limited owes around $3 billion to fuel traders for imported petrol. According to Reuters on Monday, three sources confirmed the development. The debt is coming amid the removal of petrol subsidy in the country. On May 29, 2023, President Bola Tinubu announced the removal of subsidy on petrol — a development that immediately led to a spike in the price of the product and spiralling inflation across board. The president had, however, said the removal of the petrol subsidy was a challenging but necessary decision to secure the country’s energy future. According to the publication, NNPC, Nigeria’s major petrol importer, still struggles with payment for imported petrol due to the incessant depreciation of the naira and rising global fuel prices. “They are paying, but it’s slow,” one of the sources told Reuters. Five sources, the publication said, confirmed NNPC was taking more than 130 days to make the payments instead of within 90 days. According to Femi Sonoye, NNPC spokesperson, the company was “not aware of any such debt nor any financial issues of such magnitude”. “Our focus remains on sustaining sufficiency in the supply of petroleum products in Nigeria,” Soneye said. Also, the sources said NNPC’s suppliers, including international traders like Vitol, Mercuria and Gunvor as well as Nigeria-based trading houses, are still supplying fuel. On February 29, the federal government said petrol importation into the country had dropped by 50 percent since the removal of the subsidy. This was disclosed by Mohammed Idris, minister of information and national orientation, who said the reduction in importation was due to the removal of subsidy.

Bandits kill 30 security volunteers in Niger

  Tragedy has struck in the Dogon-Dawa community in the Mariga local government area of Niger state as suspected bandits have reportedly killed no fewer than thirty members of a local Security outfit called Yan Sa Kai in the area. Some casualties were also said to have been recorded on the side of the bandits but the exact numbers are yet to be ascertained.   Vanguard Correspondent reliably gathered that the local vigilantes met their untimely deaths as they were trailing the suspected bandits to their hideout on hearing of their presence in the area. Unknown to the vigilantes, the bandits ambushed them and rained bullets on them as they were approaching their hideout leading to a high number of casualties. The incident occurred on Saturday morning. A reliable source from the area who confirmed the incident to Vanguard said some of the gunmen were also killed but could not state the exact number. “Some of our local vigilantes were killed. From what we have calculated and seen, they are up to thirty. “Some of the bandits were also gunned down by our men and many others escaped with bullet wounds but we cannot say specifically the numbers. “With this development, our people who are predominantly farmers and who are preparing for the planting season are currently fleeing the area to avoid a reprisal by the gunmen,” he remarked. Chairman, Mariga local government council, Abbas Kasuwar Garba confirmed the incident to Journalists. “This incident calls for serious concern especially now that our people who are predominantly farmers are preparing to go back to their farms in readiness for the planting season. He called for quick intervention from the government in order to safe reoccurrence. At the time of filing the report, efforts to get the response of the Niger state government and police command Public Relations Officer PPRO, SP Wasiu Abiodun proved abortive.

Saudi Arabia says no new moon sighted, declares Wednesday as Eid-el-Fitr

  Authorities in the Kingdom of Saudi Arabia on Monday said no moon crescent marking the beginning of Shawwal and the end of Ramadan has been sighted. With this development, the Ramadan fasting will be 30 days while the Eid-el-Fitr will be celebrated on Wednesday in the Kingdom. “The crescent moon was NOT sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Wednesday, 10th April 2024,” Haramain, a Saudi-based online resource outfit, wrote on X. On April 7, Muhammad Abubakar, Sultan of Sokoto, asked Muslims in Nigeria to look out for the new moon of Shawwal 1445 AH on Monday. Since March 11, Muslims across the world have abstained from eating, drinking, and any form of sexual relationship from dawn till dusk to observe Ramadan fasting which is either 29 or 30 days. This development comes a day after the federal government announced Tuesday and Wednesday as public holidays.