Business
NAIRA woefully loses N89.27 to the dollar
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/04/Naira.webp&description=NAIRA woefully loses N89.27 to the dollar', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/04/Naira.webp&description=NAIRA woefully loses N89.27 to the dollar', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Naira lost N89.27 against the dollar at the official foreign exchange market in the first week of October 2024.
This comes as the Naira ended the week at N1631.21 per dollar from N1541.94 exchange rate on September 30, 2024.
This showed that the Naira had weakened by a significant N89.27 against the dollar.
Further analysis showed that the Naira, despite recording mixed sentiments of gains and losses at the official FX market in the period under review, has predominantly depreciated.
Meanwhile, at the black market, the Naira gained N30 to close the week at N1,670 per dollar compared to N1,700 it started that month.
Business
JUST IN: ADC Lawmakers Demand Removal of INEC Chairman, Threaten Legal Action Over Alleged Bias
By Gloria Ikibah
The African Democratic Congress caucus in the House of Representatives has launched a fierce attack on the leadership of the Independent National Electoral Commission, calling for the removal and prosecution of its chairman over alleged partisanship and misconduct ahead of the 2027 elections.
Briefing journalists after its inaugural meeting held on 12 April 2026, the leader of the caucus. Rep. Afam Ogene raised alarm over what it described as growing concerns about the neutrality and credibility of the electoral body under Professor Joash Amupitan.
Reps. Ogene pointed to alleged past online activity linked to the chairman, claiming it suggested political bias in favour of the ruling party. While the commission has denied any connection between the chairman and the social media account in question, the caucus insisted that independent digital checks indicated otherwise, raising doubts about transparency and trust in the office.
The caucus argued that such concerns strike at the heart of the commission’s ability to conduct free, fair and credible elections, warning that the situation could undermine Nigeria’s democratic process if left unchecked.
Beyond the electoral body, the caucus also accused elements within the judiciary of working in tandem with the commission to frustrate the party’s participation in upcoming elections. It alleged attempts to interfere in the party’s internal leadership dispute, despite clear legal provisions barring courts from adjudicating such matters.
He said: “In light of these inconsistencies and concerns regarding impartiality and integrity, the House Caucus, on Monday, 13th April 2026, hereby calls for the removal of Prof. Amupitan from office and advocates for his prosecution, in order to safeguard the nation against an avoidable descent into undemocratic practices.
“The Caucus is gravely concerned about the ostensibly undemocratic actions taken by INEC, under the leadership of Prof. Amupitan, which appears to deny the ADC the opportunity to participate in the forthcoming elections. This is being achieved through the perpetuation of a leadership crisis within the party, whereby INEC has abdicated its responsibility as an impartial arbiter and instead intervened in the party’s internal affairs. Specifically, the commission seems to be recognizing an illegitimate leadership faction, contrary to the authentic leadership of Senator David Mark, which had previously been acknowledged and certified by INEC itself, having met the requisite criteria, as evidenced by a recent affidavit issued by the Commission.
“We note that the Commission, in collusion with certain elements within the judiciary, is actively working to undermine the aspirations of the ADC, thereby preventing the party from fielding candidates in the forthcoming elections, through duplicitous means that serve to obstruct inclusivity within the democratic process.
“In fact, credible information at our disposal suggest that certain individuals within the judiciary and INEC are collaborating to influence the outcome of a case coming up on Tuesday, April 14, 2026 regarding the leadership question in the ADC, potentially impacting the recognition of a discredited faction.
“In fact, Section 83 (5) in the Electoral Act 2026 clearly prohibits any court of law in Nigeria from entertaining any case concerning party Congresses. The section says –
“S. 83 (5) “… No Court in Nigeria shall entertain jurisdiction over any suit or matter pertaining to the internal affairs of a political party.”
They further referenced provisions imposing penalties on individuals who pursue such cases, adding: “Where such action is brought in negation of this provision – (a) No interim or interlocutory injunction shall be entertained by the Court… (b) The Court shall, at the conclusion of the matter, impose costs of not less than ₦10,000,000.00…”
The caucus maintained that ongoing developments suggest a deliberate effort to legitimise a faction it considers illegitimate, thereby weakening the party’s chances in future elections.
In response, the group announced plans to petition the National Judicial Council, seeking a thorough investigation into what it described as politically exposed judicial officers, with the possibility of disciplinary action or removal from the bench.
The lawmakers said they were acting in defence of democratic principles, warning that public confidence in both the judiciary and electoral system is rapidly eroding.
They echoed concerns raised within the legal community about the growing perception of judicial compromise, citing recent remarks by the Nigerian Bar Association leadership on the dangers of political patronage influencing the courts.
“We concur with the position of the NBA president, who only days ago expressed concerns over the growing perception of judges as beneficiaries of political patronage, stating that it erodes public trust in the justice system. The NBA president had lamented the practice of politicians gifting cars to judges, suggesting it compromises their neutrality and demeans the judiciary. “It demeans the judges. It demeans the judiciary,” he said. He emphasized that judicial needs should be addressed through proper budgetary processes, allowing courts to manage their own affairs rather than relying on public display of largesse, which undermine judicial integrity and independence.
“INEC must not only be independent in name but also demonstrate impartiality, transparency, credibility, and trustworthiness in its actions. However, current public perception suggests a disconnect from these ideals”, he noted.
The caucus stressed that the credibility of Nigeria’s democracy now hinges on urgent reforms, insisting that the electoral commission must not only claim independence but also demonstrate it through transparency, fairness and accountability.
Business
Bank stops transfer fees on online transactions
Sterling Bank has announced the removal of transfer fees on all local online transactions, becoming the first major Nigerian bank to eliminate the contentious charges for digital banking.
The move was confirmed by the bank on Tuesday in a press release.
The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that the zero-transfer-fee policy is real and effective immediately.
The bank’s Growth Executive in charge of Consumer and Business Banking, Obinna Ukachukwu, described the decision as a values-driven approach aimed at ensuring fair and inclusive banking.
“We believe access to your own money shouldn’t come with a penalty.
“This is more than a financial decision—it’s about redefining banking to put customers first,” he stated.
Under the new policy, Sterling customers will not be charged for local transfers conducted via the bank’s mobile app.
The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.
Ukachukwu emphasised that the bank’s decision is about more than just competitive strategy.
He said, “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.
Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”
Business
I like ladies who wear short dresses – Falz
Nigerian rapper, Folarin Falana, popularly known as Falz, has expressed his admiration for miniskirts and short dresses.
Speaking in a recent podcast interview with Madame Joyce, Falz revealed that he loves women in short dresses.
According to him, short dresses bring out the sexiness in women.
“I have a thing for short skirts and short dresses. They bring out the sexiness in a woman. I so much like miniskirts,” he said.
-
News21 hours agoNSITF promises Gambia of technical support, stronger partnership …As study tour ends in Abuja
-
News20 hours agoDAY 24 of Projects Commissioning and Flag-Off in the FCT
-
News18 hours ago‘He was our bread winner’: Dad laments 28-Year-Old Lieutenant Killed in Oyo School Rescue Mission
-
News18 hours agoAfter 56 Days in Captivity, Oriire Parents Scared of Sending Rescued Kids Back to School
-
News20 hours agoOne dies, seven injured as Gombe Assembly Complex under construction collapses
-
News19 hours agoGunmen Kidnap 60-Year-Old Headmaster In Oyo, Demand N30m Ransom
-
News13 hours agoJust in: Appeal Court halts Atiku’s presidential bid, declares Mark-led ADC congresses illegal
-
News20 hours agoNorwegian Air adorns British Airways logo for 24hrs after losing 2026 World Cup wager

Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login