Insecurity: Akpabio Begs Germany To Halt Deportation Of 12,000 Nigerians
President of the Senate, Senator Godswill Akpabio, has appealed to the German government to reconsider its decision to deport approximately 12,000 illegal migrants to Nigeria. The Senator expressed concern that such a move could exacerbate existing security challenges in the country. During a courtesy visit by the German Ambassador to Nigeria, Annette Gunther, Senator Akpabio emphasized the need for collaboration between Nigeria and Germany, citing the countries’ significant roles in their respective continents. “Nigeria is Germany’s second largest trading partner in sub-Saharan Africa,” said Ambassador Gunther, highlighting the economic ties between the two nations. Senator Akpabio underscored Nigeria’s current struggle with insecurity and called for a joint effort with Germany in areas such as security and power to foster socio-political development. Expressing concern about the potential security implications, the Senate President urged Germany to reconsider the deportation, stating, “Dumping 12,000 illegal immigrants in Nigeria would lead to the escalation of insecurity in the country.” Akpabio also called for Germany’s assistance in distinguishing genuine Nigerian immigrants among the group, given the challenges posed by individuals falsely claiming Nigerian identity due to crises in other African countries. The Senate President stressed the importance of international cooperation in addressing security concerns and urged Germany to support Nigeria in its fight against insecurity while fostering economic development.
BBC Documentary: YouTube Yanks Off TB Joshua’s Emmanuel TV
Movie streaming platform, YouTube has taken down the main channel of the Synagogue Church of All Nations (SCOAN), Emmanuel TV. This is coming on the heels of the sexual and assault allegations against the late founder, Prophet TB Joshua. The removal follows a controversial documentary by the British Broadcasting Corporation (BBC), shedding light on allegations of torture and rape linked to TB Joshua. YouTube clarified that the channel was terminated for violating their hate speech policies, emphasizing their commitment to combating cyberbullying and harassment, particularly against survivors of sexual violence. The development adds another layer to the ongoing scrutiny surrounding the religious institution.
Vice President Shettima Is Bereaved!
The Vice President, Sen. Kashim Shettima, has lost his step mother, Hauwa Kormi, in the early hours of Thursday. The Spokesman of the Vice-President, Stanley Nkwocha, announced this in a statement on Thursday in Abuja. He said that Mrs Kormi who died after a prolonged illness at the age of 69, is survived by five children, many step children and grandchildren. He disclosed that the Janaiza (burial) is scheduled for 4pm today (Thursday) at Shettimari, Lawan Bukar, Maiduguri, Borno State. “May the Almighty Allah forgive her shortcomings and admit her to Jannatul Firdaus, amen.”
PDP Gets New Women Leader
Amina Arong has emerged National Women Leader of the Peoples Democratic Party (PDP). Her appointment is coming after the death of the former leader, Prof. Stella Effah-Attoe Stella died on October 29, 2023. National Publicity Secretary of the Party, Debo Ologunagba described Arong as a prominent women mobilizer. He expressed confidence that she would bring on board her intellectual capacity as well as experience as a women leader. Arong is from Cross River. She holds a Diploma in Banking and Finance and a B.Sc. in Accounting. “The PDP congratulates and tasks the new national women leader to deploy her capacity and experience in working with other members of the National Working Committee for the continuing stability, growth and success of our great Party”, the statement added.
Bandits Kidnap FHA Director In Abuja
Gunmen suspected to be bandits have abducted Aondo Ver, a director at the Federal Housing Authority in the Federal Capital Territory. The attack occurred around 12:30 am on Thursday merely 200 meters from a military base in Pambara, Bwari Area Council, Abuja. The assailants, firing indiscriminately, created panic before fleeing through the bushes with their captive. Residents, including serving and retired military personnel, confirmed the incident, expressing shock at the audacity of the bandits given the proximity of a military base. Sources revealed that the targeted area, Pambara Extension, housed both civilians and military personnel. The abducted director’s home was located a short distance from the military base known as ‘camp.’ Witnesses reported that despite the military presence, the bandits executed the kidnapping successfully. Concerns are escalating over the rising insecurity in the Federal Capital Territory, with residents and authorities expressing growing apprehension. Efforts to obtain comments from the Nigerian Army’s spokesperson, Brigadier General Onyema Nwachukwu, and the FCT Police Command’s spokesperson, Josephine Adeh, were unsuccessful at the time of reporting.
Forex Crisis Forces Bureau de Change Closure in Abuja
In response to the escalating foreign exchange crisis in Nigeria, Bureau de Change operators have taken a drastic step by announcing the indefinite closure of their offices in Abuja starting from February 1, 2024. Abdullahi Dauran, the Chairman of BDC operators in Abuja, cited the scarcity of dollars as the primary reason behind this decision. Dauran emphasized that the increasing demand for dollars, fueled by online business transactions and cryptocurrency activities, has intensified the scarcity, leaving Bureau de Change operators with no choice but to shut down. Aminu Gwadabe, the president of the Association of Bureaux de Change Operators of Nigeria (ABCON), acknowledged the development but provided no clear response, stating, “I saw it online, too.” Recent data from FMDQ on Thursday revealed a marginal appreciation of the Naira to N1,455.59 per US dollar from N1,482.57 on Wednesday. However, the Naira’s depreciation worsened earlier in the week, reaching N1,482.57 per US dollar at the official market, surpassing the N1,470 quoted at the parallel market. Despite efforts by the Central Bank of Nigeria, including injecting over $500 million to clear the forex backlog and other interventions, the Naira continues to struggle against the dollar. In an attempt to address the ongoing decline, the CBN released fresh guidelines on Wednesday, targeting commercial banks and urging them to refrain from foreign currency speculation and hoarding.
CBN Implements Stricter Measures to Curb Forex Speculation
In a bid to address concerns over rising foreign currency exposures among banks, the Central Bank of Nigeria (CBN) has issued a new circular outlining prudential requirements. The directive aims to mitigate risks associated with excessive foreign currency speculation. The circular, titled “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks,” stipulates that the Net Open Position (NOP) limit for overall foreign currency assets and liabilities should not exceed 20 percent short or 0 percent long of shareholders’ funds unimpaired by losses. Banks with current NOP exceeding these limits must adjust to the prudential limit by February 1, 2024. Banks are now mandated to calculate their daily and monthly NOP and Foreign currency trading position using provided templates. Non-compliance with the NOP limit may result in immediate sanctions and/or suspension from the foreign exchange market, warns the apex bank. Additionally, the CBN requires banks to maintain a sufficient stock of high-quality liquid foreign assets to cover maturing foreign currency obligations. Foreign exchange contingency funding arrangements with other financial institutions are also mandatory. To mitigate currency risks, banks are urged to borrow and lend in the same currency, adopt natural hedging, and align interest rates for borrowing and lending. The circular also emphasized the need for approval from the CBN for any early redemption clause in eurobonds.
State of the economy and free fall of the Naira : Senate Summons CBN Gov
The Senate on Wednesday summoned the Governor of the Central Bank of Nigeria ( CBN) , Olayemi Cardoso , to appear before it on Tuesday next week to profer solutions to the parlous state of the economy and the free fall of the Naira at the forex market. The Senate Summon was made by its Committee on Banking , Insurance, and other Financial Institutions, Chaired by Senator Adetokunbo Abiru (APC Lagos East). The committee hurriedly met on Wednesday when Naira plummeted to N1,520 to a US dollar and resolved to summon the CBN governor on a way out of the foreign exchange quagmire. Speaking with journalists after the hurried meeting held behind closed door, Senator Abiru said the state of the economy, especially the spiraling inflationary trend was of great concern to the lawmakers. He said “We have held a meeting this afternoon essentially to focus on the direction of the Nigerian economy . “We are all living witnesses of what is going on. Underlining the major issue of the economy is the way the inflation index has been, and of course, it is a major concern to us . “We have deliberated among ourselves. Critical issues were addressed, and we believe that the next line of action is to summon the governor of the Central Bank on Tuesday at 3 O’clock to brief us properly on the state of the economy. “That we have resolved and will communicate to the governor of the Central Bank after which we will have further communication with members of the press’
EFCC uncovers religious sect laundering money for terrorists
The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that the anti-graft agency uncovered how a religious sect in Nigeria is laundering money for terrorists. He stated this during a public engagement on youth, religion, and the fight against corruption. This was as he also revealed that another religious body was found to be protecting a money launderer after some money suspected to have been laundered was traced to the organisation’s bank account. Speaking during a public engagement on youth, religion, and the fight against corruption, as well as the launch of the fraud risk assessment project for ministries, departments, and agencies, Olukoyede stated that the EFCC was investigating a N13bn fraud case when it discovered that N7bn of the N13bn was linked to a religious body’s bank account. He noted that religious organisations, institutions, sects, and bodies have been found culpable of money laundering. Olukoyede said, “A religious sect in this country had been found to be laundering money for terrorists.” He, however, noted that the religious organisation quickly obtained a restraining order to prevent the EFCC from probing its leaders. “We were able to trace some laundered money to a religious organisation, and when we approached the religious organisation about it and we were carrying out our investigation, we got a restraining order stopping us from carrying out our investigation,” he said. Olukoyede further said the commission will not give up on the investigation as it is appealing the restraining order to recover the stolen funds. The one-day event is aimed at addressing the challenges of youth involvement in cybercrimes and how religion could be used as a weapon for their reorientation. The event, themed “Youth, Religion and the Fight Against Corruption,” featured the launch of the Interfaith Preaching and Teaching Manual developed by the Interfaith Anti-Corruption Advisory Committee of the Commission as a resource to promote abhorrence for corruption among adherents of Islam and Christianity. The EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments and Agencies was also launched at the event.
Fire Guts Popular Church In Lagos
A popular church which is known as Household of David Church at 7 Surulere Street, Industrial Estate, Adeniyi Jones, Ikeja, Lagos was on Wednesday morning gutted by fire. This was confirmed in a Facebook post by the Lagos State Fire Service. The fire started at about 10: 47am. According to the Lagos State Fire Service, the expanse church auditorium erupted in Fire from smoke that emanated from the ceiling. “Fire is presently under control as dampen down progresses to bring operations to conclusion. “The Fire was however made to confined within the church auditorium it started from while salvaging adjoining properties. “In Attendance: Lagos State Fire and Rescue Service Alausa and Ikeja Fire Stations. Property Involved: Auditorium and church-hold items Supposed Cause: Investigation to reveal in due course “, the post read.