1. Naira Drops to 218 as Dollar Demand Rises
The naira dropped on Monday by 2.3 per cent to 218 against the dollar at the parallel market. The greenback was sold for 213 at the black market on Friday. Foreign exchange traders linked the development to huge demand for the dollar by importers, politicians and investors. “There is an upsurge in demand for the dollar due to increase in liquidity in the system, with some buyers willing to pick up dollars at any available rate,” the President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, said.
2. Develop Other Revenue Sources – Ambode Advises FG, states
Governor Akinwunmi Ambode of Lagos State has advised state governments and the Federal Government to develop alternative revenue sources as persistent declines in global oil price continue to impact negatively on the nation’s oil revenue. He also said that the current economic challenges facing Nigeria called for greater commitment and contribution from all stakeholders particularly professional bodies.
3. Oil slump: OPEC Bows to Pressure for Negotiation
The Organisation of Petroleum Exporting Countries has finally surrendered to market pressure, expressing its willingness to open talks with other crude producers following the persistent drop in oil prices. Crude is currently trading near multi-year lows, and the oil cartel said it was ready to talk to other producers, according to an article in the OPEC Bulletin issued on Monday.
4. Ex-depot Price of Petrol Drops as Oil Price Crashes
The slump in the price of crude oil in the international market has forced oil marketers to reduce the price of Premium Motor Spirit (PMS) or petrol at the depots in Lagos, we learnt. The price of Brent had hit a peak of $115 in June 2014, after an all-time high of $147 in July 2008. However, after the June 2014 peak, the price slumped to $45.19 per barrel in January 2015, and further down to $42 last week, the lowest level this year.
5. Possession of Fire Arms: Court Grants Dasuki Bail on Self-recognition
A Federal High Court in Abuja has granted bail to the immediate National Security Adviser (NSA), Mohammed Sambo Dasuki, on self-recognition after he pleaded not guilty to a one count charge of illegal possession of firearms. Dasuki is standing trail on a one count charge of illegal possession of fire arms preferred against him by the Department of State Security who searched his home 48 hours after leaving office in July 2015. Soon as the charge of “being in possession of firearms without license punishable under Section 27 (1) (a) (i) of the Firearms CAP F28 LFN 2004” was read to him, Dasuki pleaded not guilty.
6. “Boko Haram in Disarray Now, We Will Soon Defeat Them” – Defence Headquarters
Borno Government sets dateline for reconstruction of communities destroyed by Boko HaramThe Defence Headquarters has said that the end of insurgency in Nigeria is in sight and that all known camps of insurgents on Nigerian territory have been dislodged. The Acting Director, Defence Information, Col. Rabe Abubakar, said this yesterday in Abuja when he paid a courtesy call on Mr Ima Niboro, Managing Director of the News Agency of Nigeria (NAN). Abubakar said the military would continue to dominate the insurgents’ hideouts in the North East so th
7. Gulak Blasts Fayose Over PDP National Chairmanship Position
Former Special Adviser to ex-President Goodluck Jonathan on Political Affairs, Alhaji Ahmed Gulak, has blasted Ekiti State Governor Ayodele Fayose for saying the office of national chairman of the Peoples Democratic Party (PDP) should be conceded to the South-West. Governor Fayose had called on chieftains of the party from the zone to indicate interest in the office ahead of the national convention slated for March, 2016.
8. New AfDB Chief Adesina to Focus on Powering Africa
Dr Akinwumi Adesina, the new President, African Development Bank (AfDB), says he will in the incoming years focus on tackling Africa’s chronic power shortages to unlock its economic potential. Adesina, a former Nigerian agriculture minister, said this at his swearing in as AfDB’s eighth president on Tuesday in Abidjan, Cote d’Ivoire. He said unlocking the continent’s economic potential would help in ending its vulnerability to fluctuations in commodity prices.
9. Buhari Hints Plans to Overhaul EFCC, ICPC
The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and other related offences Commission (ICPC) are to be overhauled to reposition them to properly tackle corruption in Nigeria. President Muhammadu Buhari made the declaration on Tuesday in Abuja at the opening of the Institute of Chartered Accountants of Nigeria’s (ICAN) 45th yearly conference, which also coincided with the body’s 50th anniversary as a registered professional association in the country.
10. Presidency Insists Buhari Never Promised Specifics in First 100 days
The Presidency on Tuesday denied reports that President Muhammadu Buhari promised to achieve specific things within his first 100 days in office. It also claimed that the document tagged ‘One Hundred Things Buhari Will Do in 100 Days’ and ‘My Covenant With Nigerians’ did not emanate from the authentic channel of the campaign’s media department. The Senior Special Assistant on Media and Publicity, Mallam Garba Shehu made the clarification while responding to the criticisms that followed the denial that the President made such promises.