News
What CBN should do to crash FX rate to N1000 per dollar – Aja
A financial expert, Kalu Aja has told the Central Bank of Nigeria to sell the Naira at an exchange rate of N1000 to USD.
Aja disclosed this in a statement on Sunday on his official X handle.
Recall that the Association of Bureaux de Change Operators begged the apex bank to review the allocation rate of Dollar below
The call came amid the continued appreciation of Naira against dollar both at foreign and parallel exchange markets resulting in the exchange rate standing at N1,251 per dollar on Friday.
He, however, stressed that the real economic fundamentals remain unchanged as the country gets 89 per cent of FX earnings.
“It’s not magic. Sell dollars at N1000 and market prices will crash to N1000
“This is how all central banks across the world intervene in a floating market, they buy and sell currency in the floating market, It’s legal monetary policy
“The issue, as I have pointed out, is the Cost of the defense, not the defense. CBN has issued Bonds (FPI) and is using those bond proceeds to “defend” the Naira exchange value. The alternative is to use oil export earnings and it will have the same effect, strong Naira
“The real fundamentals Are unchanged, the oil revenues which make up 89% of forex earnings are still down. What the CBN has done is buy time for the executive to pump More oil, if that oil output changes, then the fundamentals have changed and the dollar pressure will ease to a new level”, he stated.
News
Road Safety confirmed 13 People Dead In Edo Road Accidents
The Federal Road Safety Corps (FRSC) has reported that at least 13 people lost their lives in road accidents across Edo State in November 2024. The Sector Commander of the FRSC, Cyril Mathew, confirmed this tragic news during an address to journalists in Benin City on Sunday.
According to Mathew, the fatalities resulted from multiple accidents that occurred throughout the state during that month. In addition to the 13 deaths, he noted that 76 passengers sustained injuries, and 1,524 drivers were apprehended for various traffic violations.
He explained that the primary causes of the accidents were factors such as brake failure, speeding, reckless driving, and the use of mobile phones while driving. Other contributing factors included route violations and failure to adhere to basic traffic regulations. Mathew also outlined that the 1,524 traffic offenders were arrested for a range of violations, including driving without a fire extinguisher, not installing a speed-limiting device, tyre violations, seat belt violations, overloading, driving against traffic, and using phones while driving.
All offenders were arraigned in a mobile court, where they were fined according to the severity of their violations.
The FRSC official issued a stern warning to motorists, urging them to avoid dangerous practices such as overspeeding, driving under the influence of alcohol, driving at night, and using phones while driving. He emphasized that these behaviors contribute significantly to road accidents and endanger the lives of everyone on the road.
In a separate incident, barely two weeks ago, a deadly automobile accident occurred near Tage Bridge in the Kafin Hausa Local Government Area of Jigawa State. On the Monday of that week, a passenger vehicle was involved in a crash that resulted in the deaths of at least 14 people. Eyewitnesses described the scene as horrifying, with numerous bodies scattered across the area.
The Jigawa State Police Command confirmed the incident through its Public Relations Officer, DSP Shi’isu Adam, who stated that the driver of the vehicle survived the crash and is currently cooperating with the police to determine the cause of the accident. The incident occurred when a Golf 3 Wagon, with the license plate GML 842 XA, was traveling from Hadejia town to Makera village. The vehicle reportedly overturned and plunged into a river.
Adam further revealed that the identities of the victims have not yet been disclosed, pending notification of their families. The police are continuing their investigation into the circumstances surrounding the crash.
News
Nigerian Man Who Rained Curses On President Tinubu Nabbed
A Nigerian man has been nabbed after he went on social media to rain curses on President Bola Tinubu and Lagos State Governor Babajide Sanwo-Olu.
The arrest of the unnamed man who cursed President Bola Tinubu and rained insults on Governor Babajide Sanwo-Olu followed a recent warning by the Nigerian Police Force, which cautioned against making offensive statements or insults directed at public officials.
The police had followed up with the assertion that such acts were punishable under the law.
In the controversial video, the man unleashed curses at President Tinubu, holding him responsible for Nigeria’s challenges and criticizing his leadership. He also directed scathing remarks at Governor Sanwo-Olu, accusing him and other politicians of contributing to the nation’s plight.
Some of his statements included:
“The Inspector General of Police said anyone who insults others should be arrested. It won’t be well with Bola Tinubu. He won’t have peace of mind wherever he is.”
“Sanwo-Olu, the Lagos State Governor with the black eye, it won’t be well with you either. You’ll know no peace wherever you are.”
“You politicians, spoiling this country without accountability, none of you will know peace. You’ve brought Nigeria to this state, and you shall face the consequences.”
Despite knowing the authorities were after him, the man expressed defiance in the video, claiming he had been declared wanted and daring the police to take action.
“They said they’re looking for me and have declared me wanted on their platform. Senseless set of people,” he said.
“People like Yahaya Bello, who are destroying the country, are free, yet you declare me wanted. Those stealing money are untouched, but you’re after me.”
However, a follow-up clip confirmed that the man had been arrested for his remarks. The police have not disclosed further details about his detention, but his case has reignited debates on freedom of speech and the boundaries of criticism in Nigeria.
Watch the video below of the man as he cursed President Tinubu
Man was arrested a few hours after insụlting Tinubu and Lagos State governor, Babajide Sanwo Olu😳🙆 pic.twitter.com/VU47vv52b5
— CHUKS 🍥 (@ChuksEricE) December 21, 2024
The video, which continues to circulate online, has drawn mixed reactions, with some Nigerians condemning the man’s approach in cursing President Tinubu while others see his arrest as an attack on free expression.
See some reactions below:
@DeeNwuga: “To track dey so easy till e reach time track kidnappers and bandits then everywhere go silent.”
@ourt_destiny: “Abacha regime was not this bad, Tinubu has taken it to a whole new level.”
@GeneralSnow_: “I love his unbothered look. They will only make him a hardened activist.”
@HIBILLIONEAR: “This is just a reminder that e no go better for Tinubu, Sanwa Olu, IG of police and ecery other Nigerian politician. Una go arrest until prison and cells full, no space.”
@theboyisgreat: “They are afraid of what is coming but it will eventually catch up on them.”
@Chrizkhalifa21: “Na when e reach netizens turn una dey fit track them but track kidnappers and boko Haram una no fit.”
@Victoh: “The tyranny is playing out to our faces but we are still bantering Igbo or Yoruba. Make we dey play 😂Police PRO don first give us update of what is to come.”
@RAZZIEDML: “Na why I no dey do pass myself. Make them no go pick me wey never pick before.”
News
BREAKING: FG declares Wednesday, Thursday public holidays for Christmas, New Year
The President Bola Tinubu has declared Wednesday 25th, Thursday 26th December 2024, and Wednesday 1st January, 2025 as Public Holidays to celebrate Christmas celebrations, Boxing Day and New Year respectively.
Dr, Magdalene Ajani, the Permanent Secretary in the Ministry of Interior, on behalf of Dr. Olubunmi Tunji-Ojo, the Minister of Interior, made the announcement in a statement on Monday in Abuja
According to her, the minister extended greetings to all Nigerians, encouraging them to use the festive period to reflect on the values of love, peace, and unity that the season signifies.
The minister who emphasized the importance of the season, which according to him, is a time to foster harmony and strengthen bonds called on Nigerians to remain committed to the peace, unity and progress of the nation for national development.
“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences,” said Dr. Tunji-Ojo.
He assured citizens of the Federal Government’s continued commitment to ensuring peace, security, and prosperity across the nation.
“While wishing Nigerians a merry Christmas and a prosperous 2025, the Minister expressed his confidence in the Renewed Hope Agenda of President Tinubu’s Administration ushering in the new year, a better and prosperous economy that will be the envy of the world”, the statement added.
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