Author: Farouk Abbas

THE Central Bank of Nigeria (CBN) has declared to sell dollars to Bureau De Change (BDC) operators at the rate of N1,101 per one dollar. According to a circular uploaded to its website on Monday, the apex bank directed the operators to sell at a spread not more than 1.5 per cent above the purchase rate. In March, the apex bank sold $10,000 to BDCs at a rate of N1,251/$ and instructed the BDCs to sell to eligible customers at a rate not exceeding 1.5 per cent above the purchase price (N1,269/$1). This followed the CBN’s earlier decision to sell…

THE Inspector General of Police, Olukayode Egbetokun, has approved the posting of Police Public Relations Officers (PPROs) to various Commands and Formations, as well as the Deputy Force Public Relations Officer at the Force Headquarters, Abuja. The Force Headquarters said these appointments were meant to strengthen community engagement and strategic communication. This was announced by the Force Public Relations Officer, Olumuyiwa Adejobi, in a statement on Saturday. “The newly posted officers and their respective portfolios include CSP Isuku Victor Edailokun as Deputy Force Public Relations Officer, Force Headquarters Abuja; DSP Ukandu Joshua to PPRO Ebonyi; ASP Buhari Abdullahi to PPRO…

ATIKU Abubakar has joined the growing list of critics faulting the Federal Government’s hike in electricity tariff and believes the move further compounds the citizens’ economic difficulties. The Nigerian Electricity Regulatory Council (NERC) days ago jacked up the tariff for Band A consumers – those who enjoy at least 20 hours daily supply of power – as part of moves to stop the payment of subsidy on electricity. But Atiku, the Peoples Democratic Party (PDP) chieftain who was the party’s presidential candidate in last year’s election, says the move will further compound the economic woes of a country battling surging…

MINISTER of Power Adebayo Adelabu says infrastructure deficit is a challenge in the country’s power sector with transformers installed in the ’60s still in use in some parts of Nigeria.  Adelabu said this during an inter-ministerial briefing in Abuja on Friday. He said the deterioration of infrastructure is a major challenge in the government’s push to provide power for Nigerians. “All our gas pipelines are bad. There has been vandalisation of the gas pipelines; there will be a lack of adequate pressure on the gas pipelines where we need compressors and boosters,” the minister said during the event held at…

THE National Chairman of the ruling All Progressives Congress (APC), Dr Abdullahi Umar Ganduje has rebuked  Governor Abba Yusuf of Kano State to stop using diversionary tactics to cover up for his failure to deliver to the people of the state. Ganduje, in a statement issued by his Chief Press Secretary, Edwin Olofu  described  the latest antics of the Governor as an unfortunate and sorry  attempt to shift public  glare from the fact that there is really nothing on the ground in the state to justify the sharp increase in statutory allocations to the state since the inception of the…

THE Inspector-General of Police, Olukayode Egbetokun, on Thursday, said 141 terror cases, 214 kidnappings and 537 homicide cases were reported to the police in the last eight weeks. Egbetokun added that 3,685 suspects were apprehended for their participation in various crimes, while 401 kidnap victims were rescued. Egbetokun said this while fielding questions from journalists at the Nigeria Police Force Headquarters, Louis Edet House, Abuja. He said, “I am pleased to report a substantial advancement, propelled by the execution of diverse strategies aimed at mitigating the escalating trend of criminal activities across the nation after our last conference held on…

PRESIDENT Bola Tinubu has called on ECOWAS member states to come together, strengthen ties, and reject forces bent on causing division within the community. The President stated this at the inauguration of the Sixth Legislature of the ECOWAS Parliament on Thursday in Abuja. Tinubu, who is the Chairman of ECOWAS Authority of Heads of State and Government stated this in a statement by his spokesman, Ajuri Ngelale, saying regional solidarity is imperative to strengthen the bloc’s resilience and effectiveness at this critical juncture. He emphasised that member states cannot afford to remain passive spectators while the community faces the threat…

BARELY 24 hours after News Point Nigeria had reported that a likely increases in electricity tariff looms as a result of the new price of natural gas for power generation companies, the Federal Government has jacked up the electricity tariff for Band A customers. On Tuesday, this newspaper reported that the Federal Government had announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu. Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by gas.…

A FEDERAL High Court in Abuja has ordered the detention of a Nigerian accused of being a member of the Islamic State in Iraq and Syria, Emmanuel Osase, for 60 days. The trial judge, Inyang Ekwo, gave the order following a motion ex-parte filed by the Department of State Servicesmarked FHC/ABJ/CS/409/2024. At Wednesday’s proceedings, the applicant’s counsel, A. A Ugee, told the court that the matter was brought pursuant to Section 66(1) of the Terrorism (Prevention and Prohibition) Act 2022. He prayed the court for an order enabling the applicant to detain the respondent for 60 days pending the conclusion…

THE Federal Government and the International Criminal Police Organisation have commenced the process of extraditing a Binance chief, Nadeem Anjarwalla, who escaped from detention on March 22. Security agencies had in February arrested Anjarwalla and Tigran Gambaryan, two executives of the crypto-currency firm, Binance Holdings Limited, over alleged money laundering. They were detained in ‘a safe house’ in Abuja on the order of the National Security Adviser, Nuhu Ribadu. Among other charges, the firm and the two executives were arraigned for $35,400,000 money laundering at the Federal High Court, Abuja. But on Friday, March 22, Anjarwalla escaped from detention and…

THE naira began the new month on a bullish note, appreciating to N1,278.58 against the United States dollar from N1,309.39 per dollar recorded last week Thursday. This indicates an increase of N30.81 at the close of trading activity. According to data from FMDQ Securities, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market closing below the N1,300 ceiling marks the first instance since January 26 of this year. The naira depreciated to as low as N1,615/$1 on March 13, 2024. Since the introduction of a slew of forex policies by the central bank, the naira has gained over…

THE Minister of Education, Prof. Tahir Mamman, on Tuesday, declared that security agencies will go after individuals with fake degree certificates in the country. According to the minister, the individuals will be tracked after the committee inaugurated to investigate the activities of degree mills in the country submits its report. The Federal Ministry of Education had earlier set up an investigative panel to probe activities of degree mills following an investigative report published by Daily Nigerian which exposed the activities of degree mills in Benin Republic. The Daily Nigerian reporter, Umar Audu, revealed how he obtained a degree within six…

GUNMEN have kidnapped two students of the Federal University Wukari, located in Southern Senatorial Zone of Taraba State. The gunmen operated for almost an hour on Monday night, shooting sporadically and injuring many other students without any interference from security agencies despite the location of a checkpoint a few meters away from the scene of the incident. A resident, Moses Tapwa, was lucky to have escaped but two of his staff who are students of the institution were not lucky. The two students abducted were identified as Joshua Sardauna from Economics Department and Obianu Elizabeth of Microbiology Department. The authorities…

A FIRE outbreak that began in the early hours of Tuesday engulfed several shops at Owode Market in Offa, Kwara State. A video of the incident seen by our source captured the moment some of the shop owners were mourning as they watched their properties destroyed by the fire. “This light is too much. This is not caused by NEPA (electricity). Maybe some people were cooking and the fire started from there because this light is much,” one of the traders said in the video. A source from the town on Tuesday morning said the fire was eventually quenched by…

PRESIDENT Bola Tinubu will depart Abuja on Tuesday, April 2, 2024, for Dakar, Senegal, to attend the inauguration of Africa’s youngest leader, Senegal’s President-elect, Bassirou Faye. The Presidency disclosed this in a statement by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, titled ‘President Tinubu to attend inauguration of Senegal’s President-elect Bassirou Faye.’ Tinubu, who is the Chairman of ECOWAS Authority of Heads of State and Government, is visiting the country for the first time since assuming office, at the invitation of the Senegal government. “He will join other regional leaders to witness the inauguration at Diamniadio Exhibition Centre…

SOME residents of Kebbi State attacked a government warehouse at Bayan Kara area of Birnin Kebbi, the state capital, on Saturday night and carted away food items. The hoodlums, who defied security operatives stationed at the warehouse, also broke into some private warehouses and shops in the area and stole food items. They also looted a broken-down truck loaded with assorted grains meant for distribution in Birnin Kebbi. Attacks on warehouses had occurred at the Federal Capital Territory, Abuja and Suleja in Niger State. This is amidst the cost of living crisis largely believed to have been caused by the…

THE Socio-Economic Rights and Accountability Project (SERAP) has issued a one week ultimatum to Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr Nyesom Wike to account for loan agreements and spending details of some N5.9 trillion and $4.6 billion loans obtained by their states and the FCT. SERAP’s request also includes details and locations of projects executed with the loans. SERAP also urged them to “promptly invite the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) to investigate the spending of the domestic and external loans…

THE Nigerian Communications Commission has directed telecommunication companies to extend the disconnection of telephone lines not linked to National Identification Numbers from April 15, 2024, to July 31, 2024. A reliable source within the telecommunication sector disclosed this information to this newspaper on Sunday. This decision communicated via a letter to telcos came after a careful consideration of various challenges and requests for extensions. The source said, “So, this particular extension from 15th April to 31st July is for those who have four SIMs linked to just one phone line.” The disconnection process, which began in February, was rolled out…

FORMER Deputy Governor of Kwara State, Peter Kisira is dead. He was aged 74. Kisira whose death was confirmed by the state government in a statement signed by the governor’s Chief Press Secretary, Rafiu Ajakaye, reportedly died in the early hours of Saturday. He served as the deputy to the immediate past governor of the state, Alhaji Abdulfattah Ahmed, between May 29, 2011 and May 29, 2019. Kwara State Governor, AbdulRahman AbdulRazaq, in a condolence message, expressed sadness on the death of the former deputy governor. The statement read, “Kwara State Governor, AbdulRaman AbdulRazaq, is sad to receive reports of…

THE National Chairman of the All Progressive Congress (APC), Dr. Abdullahi Umar  Ganduje has felicitated with Nigerian Christians as they celebrate this year’s Easter,  urging them to pray for unity, peace, political stability and prosperity for the country. In a statement signed by his Chief Press Secretary,  Edwin Olofu, Ganduje called on Christians to seize the opportunity of the Easter holiday to reflect deeply on what more they need to do as a people, to ensure that the current political cum security situation in the country turn around for a better Nigeria to be enjoyed by all citizens. He also…