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Exchange rate gap widens as naira falls to N1,060/$

The exchange rate gap between the official and parallel market segments of the foreign exchange (FX) market has widened by over 100 percent as naira depreciated across markets on Tuesday.

Yesterday, Tuesday, the spread between the official and unofficial FX markets closed at N212 per dollar compared to N1.83 on June 22, 2023, after FX reform.

Dollar was quoted at N848.12 at the Investors’ and Exporters’ (I&E) forex window and at N1,060 at the parallel market, on Tuesday October 17, 2023.

On Tuesday June 21, 2023 the naira/dollar exchange rate converged, closing at the rate of N756 at both markets after the unification of the FX windows in the same month by the Central Bank of Nigeria (CBN).
The closing of the exchange rate gap and the convergence followed the recent foreign exchange (FX) policy reforms carried out by the CBN.

During the FX auction on Tuesday, willing buyers and willing sellers offered the highest bid of N981/$1 and lower bid of N700/$1, data from the FMDQ indicated.

The daily foreign exchange market turnover increased by 211.62 percent to $134.28 million from $43.09 million recorded on Monday.

Update soon…

EFCC Arrest 46 Suspected Internet Fraudsters In Calabar, Eket

Operatives of the Uyo Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested forty-six(46) suspected internet fraudsters at different locations within Calabar, Cross River State and Eket Local Government Area of Akwa Ibom State.

While the Calabar suspects were arrested on October 13, 2023, their Eket counterparts were nabbed on Sunday, October 15, 2023. Both arrests were intelligence- based.

22 suspects were arrested in Calabar and they are: David Boniface Akani, Johnson Umuke, James Michael, Akeke Favour, Enange Benard, Godson Ubi, Eddie Godson, Eyo Jesse Bassey, Joachim Omuyeh, Dickson Abang.

Others are: Ikora Sunny, Emmanuel Godwin, Dannis Lipeunim, Agwazia Sunny Henry, Abang Emmanuel, Godspower Eyan, Elena Samuel, Adie Godson, Chisom Stanley, Nonso Solomon, Eyam Daniel Okpa and Aka Richard.

The remaining suspects, 24, arrested in Eket include: Fonime John Etukudo, Nsisong Udoh, Saviour Daniel, Sampson Sunday, Joshua James Michael, Paul Edet Etiemana, Archibong Okomobong Bassey, Inemesit Akin Bassey, Edidiong Aniete Tom, Ebowusim Chifia Aslem, Nwanchukwu Ebenezer Chinonso.

Others are: Archibong Alfred Archibong, Itauma Uforotobong Richard, Bassey David Nicholas, Chidozie Ikechukwu, Japhet Linus Akwaowo,Victor Evans, Fortune Udia, Benjamin Amos, Prince Augustine, David Daniel, Augustine Obinna, Udeme Unanaowo Unanaowo and Obinnaya Jide,

Items recovered from them include sophisticated mobile phones, six exotic cars and laptops.

The suspects will be charged to court as soon as investigations are concluded.

Media & Publicity

October 16, 2023

N-Power: FG set to begin payment of 9 months backlogs to beneficiaries in November

The federal government says it is ready to commence payment of backlogs to N-Power beneficiaries who are on the programme.

This was made known by the N-power National Programme Manager, Dr. Akindele Egbuwalo during a meeting with some beneficaries of the scheme his office in Abuja.

He explained that the main purpose for the temporary suspension of the programme was to address all matters directly affecting beneficiaries with keen focus on the issues of delayed payments of stipends.

He added that, as a result of the temporary suspension of the programme for thorough restructuring and forensic audit, funds have been recovered from the existing payment service providers and plans have been put in place by the programme to commence disbursement of the 9 months outstanding stipends to beneficiaries from November, 2023. Payments will be carried out in installment, he noted.

While assuring all beneficiaries of complete transparency and accountability, Egbuwalo stated that in line with the new agenda of President Bola Ahmed Tinubu, the Npower programme will be continued as Renewed Hope Job Creation Programme (RHJCP) under the supervision of the Honourable Minister, Dr Betta Edu, which will be expanded to target 5 million beneficiaries in 5 years where 1 million youths will be absorbed each year under the graduate and non-graduate stream.

Responding, Sani Garba, a beneficiary from Yobe State who was present at the meeting noted that their concerns was mainly regarding the delayed 9 months stipends, adding that a national protest had initially been planned by different clusters of Npower beneficiaries due to inadequate information.

“Sir, as you have clearly explained the current situation of payment to us with outmost transparency, myself and other cluster of beneficiaries represented here are assuring you that we have clearly understood your position and taken your assurances, there is no need for any protest” Garba mentioned.

While encouraging all beneficiaries to keep calm as they patiently expect their payments, the cluster of beneficiaries expressed their joy over the assurances given to them for a better implementation of the programme which will ensure that no beneficiary is left behind in the renewed hope agenda of the Federal Government.

23-year-old man hacks his mother to death for refusing to give him food in Akwa Ibom

Akwa Ibom State Police Command has arrested a 23-year-old man, Akaninyene Sunday Isaac, for killing his biological mother, Christiana Sunday Isaac, in Oruk Uso Otoro Village in Abak Local Government Area of the state.

It was gathered that Isaac hacked his 55-year-old mother to death with a machete for allegedly starving him for three days.

She was said to have died before she could get medical attention.

The body of the woman has been deposited in a mortuary.

Spokesperson of the command, SP Odiko Macdon, confirmed the incident in a statement on Monday, October 16, 2023.

The PPRO said operatives of Abak Division arrested the suspect on the 11th of October.

“During interrogation, the suspect confessed to the crime and alleged that his mother failed to give him food for three days, hence he used a machete to inflict grievous injuries on her, leading to her death,” the statement reads.

“Suspect will have his day in court as soon as the investigation is concluded.”

Meanwhile, family sources who spoke to Daily Trust said that the suspect usually asked his mother for money and she always granted his request but on that fateful day, she refused to give him, saying there was no money.

Her refusal was said to have angered the suspect and he attacked her with a machete.

40ft container crushes Abia businessman to death on his way to Port Harcourt airport

A businessman identified as Akuma Kalu, was crushed to death when a 40ft container fell on his car in Etche Local Government Area of Rivers State.

It was gathered that Kalu died on Thursday, October 12, 2023, on his way to the Port Harcourt international Airport to board a flight.

His vehicle was said to have been stuck at a bad portion of the Etche-Ngo Okpala road when the container fell off a truck and crushed him
.

Late Kalu hailed from Abariba in Ohafia Local Government Area of Abia State.

He was an importer based in Umuogele Ovom after Magic FM and a member of the Umuogele Landlords Association in Aba, Abia State before his death.

Family members have taken to Facebook to mourn the late businessman.

His elder brother, Uchendu Kalu, revealed that they lost their father almost six years ago.

“Dad today marks 5 years and 10months you left me in this lonely wicked world, Death have strike and and take away you last born Akuma. Death what have I done to you. Dad I will always be your son. Rest on Ezinna m, rest on Nwoke udo, rest on my one and only father, rest in peace little bro, rest in peace Dimkpa, rest in peace Odogwu,” he wrote in a Facebook post on Sunday, October 15.

“Too hard to believe you have gone little bro. Death 6 years ago you took away my father now you have take my younger brother Akuma Kalu Mang. What have we done to you. My heart is bleeding,”

One-chance’ Robbers reportedly attack woman with spanner in Abuja

A woman was reportedly robbed, kidnapped and brutally beaten with a spanner by a suspected ‘one chance’ criminal gang in Abuja.

It was gathered that the victim had boarded a taxi at Gwarimpa Setraco gate, heading to Area One around 5:30pm on Thursday, October 12, 2023.

A family friend of the victim, who narrated the incident to an Abuja news portal, said there were three other occupants in the vehicle, two men and a woman.

The victim became suspicious when the driver took another route instead of taking the turn off Kubwa Expressway.

When she asked the driver why he took the wrong route, he claimed that he wanted to pick another passenger.

The woman requested that he stopped the vehicle so she could alight.

Instead the criminals collected all her belongings and started hitting her on the face with a spanner.

She later found herself in a bush with four other female victims. The criminals later called her family, demanding money.

“Since the family couldn’t come up with the money, the woman, (their director) instructed them to pluck out her eyes,” the source said.

“After much more, she found herself somewhere in Apo where they dropped her off. A good Samaritan found her, called her family and they took her to the hospital,”

Rivers police arrest another woman for pouring hot water on her husband over N15,000

The Rivers State Police Command has arrested a woman, Godslove Olakada, who poured hot water on her husband, Olakada Ejire, following a domestic dispute in Agbonchia community in Eleme Local Government Area of the state.

The suspect was arrested on Saturday, October 14, 2023, while her husband was rushed to a hospital at Aleto Eleme where he is currently receiving medical treatment.

According to an eyewitness, the woman had accused Ejire, of not giving her N15,000 shared between them and their children from the host community dividends, leading to a heated argument.

Angered by the development, the mother of two poured hot water on her husband’s face and attempted to escape.

“Thereafter she took the man’s Automated Teller Machine and attempted to flee with it but youths in the area handed her over to the police,” the witness said.

The latest incident occurred less than a week after a woman, Hope Nwala, poured hot groundnut oil on her husband in his sleep following a disagreement in Okehi, Etche LGA of the state.

Spokesperson for the command, Grace Iringe-Koko, who confirmed the incident in a statement on Monday, October 16, said the woman has been arrested.

“The Rivers state police, operatives, through credible intelligence, have arrested one Godslove Olakada (f) from Agbonchia Eleme on Saturday, 14/10/2023 at about 20:30hrs for pouring hot water on her husband, one Olakada Ejire (m),” the statement read.

“He was rushed to Famo Hospital at Aleto Eleme for treatment. The cause was domestic family issues

“An investigation has commenced to get to the root of the matter,” the PPRO added.

She urged members of the public to promptly report distress situations to the police.

Woman flogged for allegedly stealing three bunches of plantain in Akwa Ibom

A woman identified as Obot Udo Ekpo was flogged by youth leaders for allegedly stealing three bunches of plantain in Okon Eket village in Akwa Ibom State.

It was gathered that the suspect was caught red handed on Monday morning, October 16, 2023.

According to reports, she wanted to sell the stolen bunches of plantain at the popular weekly Urua Udo Inyang market, which is today, but luck ran out on her.

The suspect who hails from Ikot Akpandem in Okon Eket, has been handed over to the police at Uqua Division by the village Youth President, Akparawa Uyai Udo Jacob for investigation and prosecution.

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Federal Government Set to Pay N-POWER Beneficiaries’ 8 Months Outstanding Allowance

The Bola Tinubu-led Nigerian government has promised to pay N-Power beneficiaries their withheld eight-month allowances.

The N-Power National Programme Manager, Akindele Egbuwalo, confirmed this, adding that the affected persons are beneficiaries of the Batch C programme who had been owed for eight months.

The Federal Government had suspended the N-Power programme last week, stating that the scheme had ghost beneficiaries, while some of its consultants were withholding participants’ funds.

The N-Power programme was established by the administration of former President Muhammadu Buhari to address youth unemployment with beneficiaries paid N30,000 monthly stipend.

Akindele, in a statement, noted that the Federal Ministry of Humanitarian Affairs and Poverty Alleviation had recovered some funds.

At the meeting held with representatives of the N-Power beneficiaries, he said: “The good news is that the funds have been recovered and you will be getting your money soon. Payment for N-Power Beneficiaries Batch C who have been owed for eight months will begin soon.”

Akindele revealed that the Minister of Humanitarian affairs and Poverty Alleviation, Dr Betta Edu, was able to address irregularities within the Program and other social investment programmes.

He said, “These irregularities have made the common man to lose faith in the ability of Government to provide social safety cover for its population but Dr Betta Edu is engaging all necessary steps to resolve these issues and deliver the Renewed Hope Mandate of President Bola Ahmed Tinubu to Nigerians

“Many irregularities which hitherto had sabotaged the smooth implementation of the Program are being addressed.

“It would be recalled that on assumption of duty it was noted that many beneficiaries did not receive payment for their monthly allowances while monies were been held up by the consultant managing the enrollment and payment system whose contract had long expired.” 

This is coming barely two months after The Batch “C” of N-Power beneficiaries wrote to Tinubu to call for his urgent intervention as they lamented that they had not been paid their stipends for the past eight months.

The N-Power batch “C” beneficiaries in the letter written by their National Publicity Secretary, Gbadebo Adesiyan, said that the nonpayment of the stipends had caused immense distress, inconveniences and hardship to millions of unemployed Nigerian graduates captured under the scheme.

According to Adesiyan, they were told that the delay on the payment of their stipends was because funds for the said unpaid months had not been approved or disbursed into the National Social Investment Management System (NASIMS) account by the presidency.

Israel strikes Syrian airport

An Israeli airstrike targeted the airport of Syria’s government-held city of Aleppo, a war monitor said, days after a similar strike hit Aleppo and Damascus airports.

“An Israeli air strike coming from the direction of the sea struck Aleppo airport,” Rami Abdel Rahman, who heads the Syrian Observatory for Human Rights, told AFP.

Syrian state media also confirmed the strike, with state TV reporting an “Israeli aggression targeting Aleppo International Airport”.

On Thursday, Israeli strikes knocked Syria’s two main airports of Damascus and Aleppo out of service, in the first such attack since a weekend Hamas assault on Israel triggered fierce fighting.

Saturday’s strikes hit the airport “hours after it went back into service, knocking it out of service again,” said the British-based monitor, which has a wide network of sources inside Syria.

Israeli strikes have repeatedly caused the grounding of flights at the airports in the capital Damascus and northern city Aleppo, both of which are controlled by the government of war-torn Syria.

During more than a decade of war in Syria, Israel has launched hundreds of air strikes on its northern neighbour, primarily targeting Iran-backed forces and Lebanese Hezbollah fighters as well as Syrian army positions.

Israel rarely comments on individual strikes it carries out on Syria, but it has repeatedly said it would not allow its arch-foe Iran, which supports Assad’s government, to expand its footprint there.

Iran, which backs Hamas, on Saturday celebrated Hamas’s assault on Israel, though it insisted it had had no involvement in it.

The strikes were the second such attack on Syrian airports after Hamas’s surprise October 7 attack from Gaza ignited a war that has killed more than 1,300 people in Israel.

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