Month: August 2024

  • Abia Varsity Suspends Lecturer Over S3xual Harassment

    The Abia State University, Uturu, has handed a 3 months suspension to Dr. Udochukwu Ndukwe, a lecturer in the Department of Mass Communication, over allegations of s3xual harassment by a female student.

    A letter signed by the school’s registrar, Dr Acho Elendu, dated July 30, 2024, and obtained by Punch Metro on Thursday, stated that Ndukwe would be investigated and would lose half of his pay “in line with the University Conditions of Service pending the conclusion of the investigation for which a panel has been set up.”

    The letter described the suspended lecturer’s actions as an “embarrassment” to the institution.

    The disgraced lecturer, Punch correspondent learnt, had repeatedly been accused of s3xually harassing, intimidating and extorting female students of the department.

    A viral social media video showed the lecturer on his knees, being interrogated by several individuals in a room.

    Ndukwe was allegedly set up by a final-year female student whom he was accused of continuously s3xually harassing and intimidating.

    Punch Metro investigations revealed that to expose the predatory lecturer, a female student he had allegedly been harassing for over two years collaborated with others to set him up at a popular hotel in Umuahia, where he was caught pants down, pleading not to be exposed.

    In the viral short video that the lecturer’s lips were bloodied and he had visible bruises.

    According to the letter, a panel has been established to further investigate the suspended lecturer “pending the conclusion of the investigation.”
     

  • 2,390 Displaced As Boko Haram Attacks Yobe Community

    Mafa people
     

    There was an attack by suspected members of Boko Haram terrorists in the Mafa community in Tarmuwa Local Government Area of Yobe State.

    The attack has left a total of 2,390 people displaced.

    The Executive Secretary of the Yobe Emergency Management Agency (YOSEMA), Dr Mohammed Goje said the SEMA team visited the temporary site on July 31, where displaced persons are currently sheltered, following the recent unfortunate incident of attack in Mafa town.

    He said the incident resulted in the loss of two lives and the displacement of 475 households, affecting a total of 2,390 people from four different communities within Mafa Ward

    He listed the affected communities to include the Mafa, Bangaro, Ngoyo, and Billiri communities in Tarmuwa LGA.

    Dr Goje said the displaced families are currently being accommodated in various locations within Babban Gida Town, the capital of Tarmuwa LGA.

    “The Yobe SEMA team, in collaboration with several partners, is conducting a rapid assessment to address the immediate needs of the displaced persons

    “The initial focus will be on providing essential food items, non-food items (such as mattresses, blankets, mosquito nets, mats, buckets, and dignity kits), and ensuring the safety and dignity of those affected.”

    Goje extended sympathies to the people of Mafa, assuring that the Yobe State Government will provide a swift and comprehensive response to their needs during this challenging time

    The council chairman of Tarmuwa Local Government Area Hon Muhammad Lamido Musa confirmed the incident to newsmen.
     

  • Soldiers Not Served Substandard Meals In Yobe – Nigerian Army Reacts To Viral Video

    Major General Onyema Nwachukwu, Director of Army Public Relations, in a statement on Thursday, August 1, 2024, said the video was recorded by a police officer stationed with the troops, adding that no soldier in Kanana is poorly fed.

    General Onyema Nwachukwu

    The Nigerian Army has reacted to a video claiming that soldiers of 159 Battalion in Kanama, Geidam Local Government Area of Yobe State are given substandard meals.

    In the video, a man displayed the small portion of semo he received, lamenting that soldiers in Kanama were not properly fed.
     
     Major General Onyema Nwachukwu, Director of Army Public Relations, in a statement on Thursday, August 1, 2024, said the video was recorded by a police officer stationed with the troops, adding that no soldier in Kanana is poorly fed.
     
    “Sequel to the viral video, the Chief of Army Staff Lieutenant General Taoreed Lagbaja ordered an investigation headed by the Commander Sector 2 Operation HADIN KAI to ascertain the veracity of the claim with a view to address any problem of poor feeding in the unit,” the statement read.

    “Following the findings of the investigation, it is crucial to clarify that the video in question was not created by soldiers of 159 Battalion, but was rather recorded by a police officer stationed with the troops deployed in Geidam. Contrary to the claim made in the video, no personnel in that location was served substandard meal as shown in the video
         
    “Preliminary investigation has also revealed that the police officer who recorded and shared the video did so with an ulterior motive yet to be uncovered by the investigation. It is anticipated to be unraveled during further investigation.

    “It is expedient to unambiguously state that the leadership of the Nigerian Army places premium on the welfare and well-being of troops and their families to ensure that they are adequately rewarded and motivated.
         
    “The COAS has continued to show undeniable passion and commitment to the well-being of soldiers, particularly those deployed in the frontlines, where they are making priceless sacrifices in defence of the nation and ensuring the safety and security of the citizens. This is evident in the several welfare schemes berthed and currently implemented by the COAS.

    These include increase in the Ration Cash Allowance, prompt medical evacuation of wounded in action soldiers for both foreign and local treatments, commencement of payment of the backlog of Group Life Insurance Scheme that had accumulated since 2012. Affordable House Ownership Option for all Soldiers (AHOOAS) with the COAS offsetting about 60 percent of the cost, and the activation of Personnel Insurance Scheme payments to soldiers who incure injury in combat operations.

    These are aside from massive revamping and equiping of Nigerian Army Reference Hospitals and other medical facilities across formations and units of the Nigerian Army to cater for the health of personnel and their families and the ongoing renovation of old and construction of new accommodations for soldiers and their families in various Nigerian Army Cantonments and Barracks.
         
    “The Nigerian Army, therefore, sincerely appreciates the troops for their inestimable service to fatherland and equally cherishes the public’s continued concern for the welfare of the troops, as well as their cooperation and support in maintaining peace and security.”

    Watch The Video Below;

  • Rosemary Chukwuma Advances to Semifinals in Women’s 100m at Paris 2024

    Rosemary Chukwuma Advances to Semifinals in Women’s 100m at Paris 2024

    Through to the Semifinals: Nigeria’s Rosemary Chukwuma Advances in Women’s 100m at #Paris2024.

    Nigeria’s sprinter Rosemary Chukwuma has secured a spot in the semifinals of the women’s 100m race at the Paris 2024 Olympics. In a fiercely contested heat, Chukwuma crossed the finish line in third place with a commendable time of 11.26 seconds, showcasing her remarkable speed and determination.

    Video: Wickedly careless policeman kills colleague while attempting to run over protesters with his vehicle

     

    The race was dominated by Poland’s Ewa Swoboda, who set a season’s best with a blazing time of 10.99 seconds, securing first place. Close on her heels was Dina Asher-Smith of the United Kingdom, who finished in second place with an impressive time of 11.01 seconds.

    Chukwuma’s advancement to the semifinals is a significant achievement, reflecting her dedication and the growing prowess of Nigerian athletes on the global stage. As she prepares for the next round, her performance has ignited hopes for a strong showing in the finals.

    The upcoming semifinals will undoubtedly be a thrilling event, with Rosemary Chukwuma aiming to further solidify her position and make her mark at the Paris 2024 Olympics. Fans and supporters eagerly await her next performance, confident in her ability to rise to the occasion.

  • Video: Policeman Killed as Police Officer Runs Over Colleague Amidst Protest

    Video: Policeman Killed as Police Officer Runs Over Colleague Amidst Protest

    Wickedly careless policeman kills colleague while attempting to run over protesters with his vehicle. 

    Katsina State witnessed a tragic event as a police officer was run over and killed by a colleague driving a police van, mistaking him for a protester.


    The incident, captured in a now-viral video obtained by Ejes Gist News, shows the horrifying moment when the police van rammed into the officer.
    The video footage reveals the lifeless body of the officer in the aftermath, highlighting a grave error in judgment by the police.

     

    It was gathered that the police officer driving the van believed the victim was a protester amidst ongoing demonstrations in the region. An X user with the handle @PureStanley1 commented on the incident, stating, “If being reckless, untrained and uncertified was an organization, then that organization would be the Nigerian police force.🤮”

    Rosemary Chukwuma Advances to Semifinals in Women’s 100m at Paris 2024

    Since August 1st, 2024, Nigerians have taken to the streets in peaceful protests against economic hardship and poor governance, using the hashtag #endbadgovernance. The protests have been fueled by widespread discontent following President Bola Tinubu’s announcement of the removal of the fuel subsidy. This decision has led to skyrocketing inflation and widespread suffering, with many Nigerians struggling to afford basic necessities.

    The Tinubu administration has faced criticism for its perceived reckless spending, including the allocation of ₦15 billion for the vice president’s residence, ₦5 billion for a presidential yacht, and plans to purchase a private jet for $150 million. These expenditures have exacerbated the public’s frustration, as many feel the government is out of touch with the plight of ordinary Nigerians.

    Watch Video Here .

  • Mr Marcaroni Slams FG Over Response To Hunger Protests

    Nigerian skitmaker, Debo Adedayo, popularly known as Mr Macaroni has taken a swipe at the Federal government over how they have been handling the ongoing nationwide protest.

    He accused authorities of disrupting peaceful demonstrations and teargassing the protesters.

    On August 1, 2024, he took to the X platform to respond to a post by SP Benjamin Hundeyin, who claimed that protesters in Lagos were peaceful.

    Mr Macaroni wrote, “This is proof that the protests are always peaceful and with good intentions until state-sponsored thugs are sent to disrupt the protests. The police, in their complicity, will ignore the infiltrators and start to attack peaceful protesters. This is how it happens not only in Lagos but in other states in the country.”

    He drew parallels to the 2020 ENDSARS protests, criticizing the government for trying to rewrite the history of these events. “At the end of the day, the government will then attempt to rewrite history as if it didn’t happen before our very eyes. This is exactly how it happened with EndSars and the records will forever be there to point at the real enemies of Nigeria who unleashed terror and mayhem in our society,” he added.

    Mr Macaroni also criticized the presence of anti-protesters who confronted peaceful demonstrators. He questioned, “Isn’t it crazy that the same people who protested peacefully are now trying to stop others from doing the same thing?”

    He stressed, “If people want to protest and cry out to the government, let them. How can the government keep punishing people and then tell them they can’t complain? The government should protect peaceful protesters, but instead, it’s the same government that’s causing the problems.”

    See Post Below;

  • They’re Working Hard To Blackmail Me – Peter Obi Cries Out

    They’re Working Hard To Blackmail Me – Peter Obi Cries Out

    Presidential candidate of the Labour Party in the 2023 Election, Peter Obi, has raised alarms over deliberate attempts to tarnish his reputation through false accusations and edited videos.

    Peter Obi expressed his concerns about a series of videos circulating online, alleging that he called for war against Northerners and led hunger protests in Abuja. According to Obi, these videos were manipulated to attack his character and political stance.

    Obi specifically pointed to a video shared by controversial social media influencer, Reno Omokri. The video purportedly showed Obi’s speech at the inauguration of Professor A.U Nnonyelu. However, Obi clarified that the video was edited and misrepresented his words. He asserted that he called for war against economic hardship, insecurity, and corruption, not against Northerners.

    Read Also: IBB says Nigerian Democracy is worst, Praises Military Era

    “I have noticed some deliberate and well-orchestrated efforts by some persons to blackmail me into conforming to some of their nefarious agendas. Their dubious moves have led to the false circulation of a video from my recent keynote speech at the installation of Rotarian Professor A. U. Nnonyelu in Anambra State. They have twisted the video to suit their motive to suggest that I declared war on Northerners when, in fact, I spoke about declaring war on economic stagnation, insecurity, and corruption,” he explained.

    Additionally, Obi addressed another misleading video claiming he led hunger protesters in Abuja. He clarified that the video was taken during his visit to the Labour Party headquarters in Abuja, where he was mediating clashes between the Labour Party (LP) and the Nigeria Labour Congress (NLC).

    Read Also:  Nationwide Protest: North Was Deceived – Adamu Garba

    “Another video circulating online, supposedly showing me leading a protest in Abuja, is also false. The video was actually taken during my visit to the Labour Party HQ, where I mediated a clash between the Labour Party and the NLC,” Obi stated.

    Obi lamented that these videos were edited to create false narratives and spread by individuals paid to do so. He warned that such misinformation harms Nigeria’s democracy and called for truth and honesty to prevail.

    “This kind of misinformation has no place in our democracy, where truth and honesty should prevail. This misrepresentation is part of a larger narrative of blackmail, aimed at fitting me into their malicious agenda. I remain committed to a new Nigeria where justice, equity, and caring for the citizens will prevail over the greed of a few,” Obi added

  • Nationwide Protest: North Was Deceived – Adamu Garba

    Adamu Garba

    Adamu Garba

    A former presidential aspirant, Adamu Garba, has reacted to the ongoing nationwide protest against the economic hardship in the nation.

    The chieftain of the All Progressives Congress, APC, stated on Friday, said the North is played into the protest of vandalism.

    Garba said northern influencers pushing for the protest should realize that they have been used to destroy their commonwealth.

    “The North is played into this protest of vandalism. Those northern influencers pushing for this protest should by now, realize that they have been used to destroy their commonwealth,” he posted on X.

    POST

    Some Nigerians are on a nationwide protest commencing on August 1 to August 10, 2024.

    The organisers of the protest have lamented about widespread hunger and inflation in the country.

  • Protests: 14 Killed as Yobe, Kano, Borno Declare Curfew

    Protests: 14 Killed as Yobe, Kano, Borno Declare Curfew

    ABUJA — No fewer than 14 protesters, including a policeman, lost their lives yesterday on the first day of the nationwide protest against hardship in the country.

    Fatalities and Curfews

    Six protesters were killed in Suleja, Niger State; four in Maiduguri, Borno State; three in Kaduna State; and one in Kebbi State. Amidst these fatalities, curfews were imposed in Borno and Kaduna states as the initially peaceful protests turned violent.

    Live Update: End bad governance Protest in Nigeria August 2024 (Day 2)

    Violence in Suleja

    In Suleja, dozens of protesters sustained injuries as security operatives struggled to dislodge a group of demonstrators who had mounted barricades on the Abuja-Kaduna highway, trapping hundreds of passengers and motorists for hours. Yahaya Nda Isah, a resident of Hassan Dalatu Road, was among those killed by stray bullets. Another victim, Mallam Abu, also died on the spot.

    IBB says Nigerian Democracy is worst, Praises Military Era

    Maiduguri Tragedy

    Four staff members of Kime filling station in Maiduguri were killed during the protests. While some reports suggested stray bullets were responsible, others claimed an explosion was the cause. A 24-hour curfew was imposed in response to escalating violence and a recent bomb blast in Kawuri village that killed 20 people.

    Kaduna Clashes

    In Kaduna, three protesters were killed, and many others were injured. The protest, which began peacefully, turned violent when security forces used hot water cannons and vehicles to disperse the large crowd. Major streets were deserted, and markets and shops closed in anticipation of further violence. Police accused members of the Islamic Movement in Nigeria of instigating the violence.

    Kebbi Incident

    In Kebbi, a businessman was killed in Yauri after being hit by a bullet while in his shop. The protest became violent when demonstrators blocked the federal highway, leading to clashes with marine police.

    Yobe and Kano Curfews

    Yobe State imposed a 24-hour curfew on Potiskum, Gashua, and Nguru to prevent further violence and looting. Similarly, Kano Governor Abba Yusuf declared a 24-hour curfew after protests turned into a looting spree. The governor emphasized the need to protect lives and property as hoodlums took advantage of the situation.

    Abuja Highway Takeover

    In Abuja, violent protesters forced the military to take over the AYA-Kubwa highway. The protesters, initially peaceful, turned violent and began extorting motorists. The military’s intervention aimed to restore order and clear the blocked roads.

    Protests in Lagos

    In Lagos, protests remained largely peaceful, with security agents leading demonstrators from Ikeja to Ojota. The protesters presented a 15-point demand to the government, including the scrapping of the 1999 Constitution, a minimum wage of N250,000, and significant investments in education and healthcare.

    Presidential Meeting

    Amid the protests, President Bola Tinubu met with FCT Minister Nyesom Wike at the Presidential Villa, Abuja. Although the agenda was not disclosed, it is believed the meeting was related to the ongoing protests in the nation’s capital.

    The nationwide protests highlight the growing discontent over economic hardship and governance issues in Nigeria, with the death toll and violence underscoring the urgent need for dialogue and reform.

  • IBB says Nigerian Democracy is worst, Praises Military Era

    IBB says Nigerian Democracy is worst, Praises Military Era

    Ex-Chief of Army Staff and one of the retired Nigerian military officers, Heads of State, Ibrahim Badamasi Babangida, popularly called IBB, has shared his thoughts on democracy as it is today in the country.

     

    In a statement shared on his verified X account, formerly Twitter, IBB said that military times in Nigeria did far better than what obtains today in terms of governance and provision of basic services in comparison with the current democratic regime.

    Read Also : Live Update: End bad governance Protest in Nigeria August 2024 (Day 2)

    IBB said the basic amenities Nigerians enjoyed during military rule are no more, much less available to them under democratic government.

    According to him, “All of the good years that the Nigerians ever had, all came out from the Military system of Government; jobs, security, affordable cost of living, good roads & education.

    Accessing the Democratic system of Govt over the years has taken us back to much worse dilapidated state.” IBB ruled the country between 1985 and 1993.

    Babangida ruled as a military president during times of heaps of economic and political reforms. He was born in Minna, Niger State, on August 17, 1941, rising through the ranks of the Nigerian Army to become one of the strong men in the military government of the country.

    In 1985, he seized power in a coup and was in power for eight years, a period within which he implemented the Structural Adjustment Program aimed at restructuring Nigeria’s economy but resulted in general economic hardship.

    Controversial moments of his regime included the annulment of the 1993 presidential election, adjudged by many to be the freest and fairest ever conducted in Nigeria. The political situation caused such a huge crisis that he had to resign in August 1993, and handed over power to a transitional government.

    Even after over three decades since he stepped down from power, IBB remains a feature of politics in Nigeria, contributing his quota to national discourse.

    The most recent comments have been debating matters among Nigerians; some agree with the assessment by IBB about the present democratic system, while others accuse him of nostalgia for military rule.

    This debate on how effective democratic governance is in Nigeria, compared with its military past, will probably go on for a while, especially with the intricate political and economic problems that have bedeviled the nation today.

  • Darkness Hits Bayelsa As Vandals Attack Two TCN Towers

    Darkness Hits Bayelsa As Vandals Attack Two TCN Towers

    Darkness has hit Bayelsa State as two towers belonging to the Transmission Company of Nigeria, TCN, along the Ahoada-Yenagoa 132 Kilovolt line were brought down by vandals in the Igbooghene community.

    TCN disclosed this in a statement on Thursday by its General Manager, Public Affairs, Ndidi Mbah

    The company said the incident happened on July 29, 2024, in the Igbooghene community of Bayelsa State.

    Consequently, this resulted in disruptions of power supply to Bayelsa State, including TCN’s Yenagoa Sub-station and the Gbarain Power Station.

    “Presently, Yenagoa metropolis and the entire Bayelsa State are still without power supply.

    “Our engineers led by the General Manager Transmission, Port Harcourt Region, Engr. Emmanuel Akpa, accompanied by men from the DSS have inspected the site of the vandalized towers.

    “Plans are already ongoing to mobilize a contractor on an emergency basis to reconstruct the collapsed towers,” she said.

    The development comes after an incident on June 16, 2024, where an individual was caught vandalizing tower T238 along the Owerri/Ahoada 132kV double circuit transmission lines.

    Recall that another act of vandalism occurred on June 10, 2024, at the Ahoada Transmission Substation.

  • Live Update: End bad governance Protest in Nigeria August 2024 (Day 2)

    Live Update: End bad governance Protest in Nigeria August 2024 (Day 2)

    End bad governance Protest in Nigeria August 2024.


    In this live blog post, Ejes Gist News will provide real-time updates on the nationwide protests happening across Nigeria in August 2024. These protests, driven by widespread frustration and discontent, are set to take place in major cities such as Abuja, Lagos, and many others.

    Nigerians have started day two of their protest against policies of the Bola Ahmed Tinubu-led administration which has plunged the nation into economic hardship.

    Live Updates: Nigerians Storm Streets In Massive Nationwide Hunger Protest (Day 2).

    Video: Wickedly careless policeman kills colleague while attempting to run over protesters with his vehicle

     

    #EndBadGovernance protesters in Lagos have converged at the Gani Fawehinmi Freedom Park, Ojota, Lagos to continue their demonstrations.

    There is heavy police presence at the scene of the protest.


    Protesters have started gathering at the Gani Fawehinmi Freedom Park in Ojota Lagos to resume day 2 of the #EndbadgovernanceinNigeria protest.


    Katsina Police impose curfew, arrest 50

    The Katsina State Police Command has imposed a 24-hour curfew on Dutsinma Local Government Area and a 7pm to 7am curfew on the rest of the state. The directive, which takes immediate effect, also bans all forms of protest within the state.

    ASP Abubakar Sadiq Aliyu, the Command spokesperson, attributed the decision to the need to maintain public safety and prevent further escalation of violence, vandalism, and looting.

    He disclosed that over 50 suspects have been arrested in connection with the destruction of public and private properties, with authorities vowing to apprehend all those involved.

    ASP Sadiq debunked the circulating rumour about police brutality and fatalities, stating that “there is no record of any fatalities resulting from police actions as of the time of these reports.” He emphasised in the statement that the command officers exercised maximum restraint and professionalism in handling the violent protesters.

    The Command appealed to parents and guardians to monitor their children’s and urged young people to resist pressure to participate in violent activities. They warned that curfew violators would face stiff penalties.

    ASP Sadiq said warned that the command, in collaboration with sister security agencies, will be conducting regular patrols to ensure total compliance with the curfew, as anyone found violating the curfew will be dealt with decisively.

     

    Ejes Gist News reports that the protest which begun yesterday, August 1st, is set to run for ten days, ending August 10th.

    Day one of the protest was mixed across the country with many northern States experiencing violence, looting, vandalism and killings, while states in the South saw largely peaceful protests.

    Kano, Yobe and Borno States declared 24-hour curfew to curb violence that they experienced on day 1.


    Stay with Naija News as we bring you updates on the nationwide protests…


    The group tagged the protest, “Days of Rage” which it said would hold nationwide from August 1 to 10.

    Stick with Ejes Gist News as we bring you updates of the nationwide protest against hardship and hunger…


    Protesters at the Lekki toll gate in Lagos State have fled as security forces fired teargas to disperse them.

    Breaking: Tension as 6 protesters are reportedly shot dead, 15 others injured in Niger

     

    A security official instructed the protesters to relocate to designated protest areas. When the protesters refused, the police responded with tear gas to scatter the crowd.

     

    Police Kill Peaceful Protester in Kaduna Amidst Pleas Not to Shoot (Video)

     


    Protest in Nigeria August 2024

    BREAKING: Hunger Protests Begin In Ibadan, Oyo State [Photos]

    Protest in Nigeria August 2024

    Woman and Baby at protest

    Protest in Nigeria August 2024


    Photos from Protest in Nigeria August 2024

    Protest in Nigeria August 2024


     

    #EndBadGovernanceProtest #EndBadGovernanceInNigeria #protest24

    Photos from Protest in Nigeria August 2024


    Live Update: 2024 end bad governance protest

  • Dollar to Naira Exchange Rate at Black Market (Aboki FX) August 2, 2024: USD to NGN CBN Rate

    Dollar to Naira Exchange Rate at Black Market (Aboki FX) August 2, 2024: USD to NGN CBN Rate

    For many Nigerians, especially those engaged in foreign trade, travel, and investments, there is a nagging concern for the dollar-naira exchange rate.

    The black market rate for dollars to naira, parallel or Aboki FX as some know it will most of the time give different rates from the official CBN rates.

    The exchange rate at this point was still wiggling up and down. We will discuss in this article how the rate has moved up to this current dollar to naira exchange rate today, August 2, 2024, what drives the rate, and how all these affect the economy of Nigeria.

    Dollar to Naira Today Black Market. 

    Current Black Market Dollar to Naira exchange rate. 

    • Buying Rate: N1605
    • Selling Rate: N1615

    Official CBN Rates

    • Buying Rate: N1683
    • Selling Rate: N1685

    Understanding the Black Market for Forex

    What is the Black Market?

    The black market refers to unofficial exchange channels where currencies are traded without government regulation. This market often provides more competitive rates due to the high demand and limited supply of foreign currencies.

    Why Do People Use the Black Market?

    People turn to the black market due to:

    • Favorable Rates: Often higher than official rates.
    • Accessibility: Easier to obtain foreign currency without stringent regulatory requirements.

    Factors Influencing Black Market Rates.

    Economic Policies

    Government decisions on interest rates, inflation control, and forex regulations by the CBN directly affect the naira’s value. Policy adjustments aimed at stabilizing the naira impact the exchange rates.

    Supply and Demand

    The availability of foreign currency versus its demand significantly influences exchange rates. A shortage of foreign currency or high demand leads to naira depreciation.

    Political Stability

    Geopolitical events and internal political stability affect investor confidence. Political unrest or uncertainty can cause the naira to depreciate, while stability strengthens it.

    Global Economic Conditions

    Global market conditions, such as oil prices, international economic trends, and global inflation rates, influence the naira’s value. A significant drop in oil prices, for instance, negatively impacts Nigeria’s economy.

    Comparing Dollar to Naira Official and  Black Market Rates

    Why the Disparity?

    Several factors contribute to the disparity:

    • Supply and Demand: Limited availability in the official market drives people to the black market.
    • Regulatory Restrictions: CBN imposes limits on forex availability, leading to higher black market rates.
    • Economic Instability: Fluctuations in oil prices and inflation prompt people to seek more favorable black market rates.

    Impact on the Economy

    High black market rates can:

    • Inflation: Increase costs for imported goods.
    • Investment: Deter foreign investment due to economic instability.
    • Trade: Benefit exporters while imposing higher costs on importers.

    Using the Parallel Market Safely

    Tips for Transactions

    • Verify Rates: Check reliable sources like Aboki FX for the latest rates.
    • Reputable Dealers: Engage with trusted Bureau De Change operators to avoid scams.

    Pounds and Euro to Naira Exchange Rates

    Pounds to Naira (CBN Rates)

    • Buying Rate: ₦2,139
    • Selling Rate: ₦2,140

    Euro to Naira (Black Market Rates)

    • Buying Rate: ₦1,778
    • Selling Rate: ₦1,779

    Geegpay and Grey: Online Exchange Platforms

    Geegpay Rates

    • EUR (€): Buying at ₦1,690.03, Selling at ₦1,695.55
    • GBP (£): Buying at ₦1,950, Selling at ₦1,965
    • USD ($): Buying at ₦1,504, Selling at ₦1,570

    Grey Rates

    • EUR (€): Buying at ₦1,640.03, Selling at ₦1,719
    • GBP (£): Buying at ₦1,902, Selling at ₦2,015
    • USD ($): Buying at ₦1,550, Selling at ₦1,570

    FAQs on Dollar to Naira Exchange Rate. 

    How much is a dollar to naira today in the black market? The buying rate is N1588, and the selling rate is N1590 as of July 29, 2024.

    Why does the black market offer higher rates than the CBN? The black market rates are driven by supply and demand dynamics, regulatory restrictions, and economic instability.

    Is it legal to trade forex in the black market? While the CBN discourages it, many engage in the black market due to the unavailability of sufficient forex through official channels.

    What are the risks of trading in the black market? Among these risks are fluctuating rates, possible frauds, and illegality of such transactions.

    Can the CBN influence black market rates? The CBN can only influence these rates through monetary policy, forex interventions, and regulatory measures; no direct control exists over such.

    How often do black market rates change? Rates can change on a daily or even multiple times per day, depending on market conditions and economic news.

    Conclusion on Dollar to Naira Black Market Rate Today.

    The black market dollar-to-naira exchange rate represents an interaction of intricate components: economic factors, regulatory frameworks, and market dynamics.

    This is real life for many Nigerians, and it also underlines the depth and scope of challenges and opportunities encountered within the Nigerian economic landscape.

    The rates, coupled with their underpinning determinants, are quite instrumental in making decisions related to finance.

    WhatsApp Threatens to Exit Nigeria Over FCCPC Demands, $220 Million Fine

  • WhatsApp Threatens to Exit Nigeria Over FCCPC Demands, $220 Million Fine

    WhatsApp Threatens to Exit Nigeria Over FCCPC Demands, $220 Million Fine

    One week after Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) fined WhatsApp $220 million for a data privacy violation, the commission’s additional demands could lead to WhatsApp suspending operations in the country. At least four people familiar with the matter said Meta was considering “withdrawing certain services” in Nigeria.

    FCCPC also asked WhatsApp to stop sharing user data with other Facebook companies and third parties without explicit consent. The social media platform must also provide information about data collection and restore user control over data usage.

    “We want to be really clear that technically, based on the order, it would be impossible to provide WhatsApp in Nigeria or globally,” a spokesperson for WhatsApp told TechCabal via email.

    “This order contains multiple inaccuracies and misrepresents how WhatsApp works. WhatsApp relies on limited data to run our service and keep users safe, and it would be impossible to provide WhatsApp in Nigeria or globally without Meta’s infrastructure. We are urgently appealing the order to avoid any impact on users,” the statement added.

    Meta did not comment on the FCCPC’s claim that WhatsApp did not allow users to opt out of the 2021 policy. However, it insisted that its January 2021 Privacy Policy update does not include sharing user data. “While traditionally mobile carriers and operators store this information, we believe that keeping these records for two billion users would be both a privacy and security risk and we don’t do it,” the privacy document reads.

    If WhatsApp ceases operations in Nigeria, it will have enormous consequences for individuals and small business owners. Many SMEs rely on WhatsApp, Instagram, and Facebook to reach their target customers.

    Three privacy lawyers questioned the FCCPC’s reference to the National Data Protection Regulation (NDPR) as a basis for the fine. Enacted in 2019 by the National Information Technology Development Agency (NITDA), NDPR is the primary data protection framework in Nigeria.

    Two lawyers who asked not to be named say the NDPR will not stand up to scrutiny in court and questioned if a government regulation could be authoritative in a matter as significant as privacy.

    While Meta is undoubtedly subject to regulatory oversight, the proportionality of the $220 million fine levied by the FCCPC is questionable, two government figures who asked not to be named said.

    “We are too revenue-focused. What is the opportunity cost of $220 million in government coffers?” asked an industry expert.

    If WhatsApp ceases operating in Nigeria over these demands, the FCCPC and the Nigerian government will have their answer.

  • Rapper Cardi B Files For Divorce From Offset Again

    Popular American rapper, Cardi B has filed for divorce from her husband, Offset, for the second time.

    TMZ confirms the news, revealing that the separation has been a long time coming.

    Sources close to the situation told TMZ that the breakup is not related to cheating. Instead, the couple has been drifting apart for an extended period. “They’re just disconnected from each other,” one insider explained.

    Hints of the impending split were apparent in Cardi B’s social media posts from December, where she expressed frustration with the relationship. “You know when you just outgrow relationships … I’m tired of protecting people’s feelings … I GOTTA PUT MYSELF FIRST!” she wrote.

    Despite efforts to reconcile earlier this year, the distance between the two only widened. The decision to part ways is reportedly amicable, and Cardi B has already enlisted a divorce lawyer to handle the case, seeking primary custody of their two children.

    The couple, who married in 2017, share two kids: 6-year-old Kulture and 2-year-old Wave. This is not the first time Cardi B has filed for divorce; she previously initiated proceedings in 2020 but later withdrew the documents. Sources indicate that this time, she is determined to follow through with the decision.

  • Nationwide Protest: Atiku Opposes Calls For Igbos To Vacate Lagos, South-West

    Nationwide Protest: Atiku Opposes Calls For Igbos To Vacate Lagos, South-West

    Former Vice President of Nigeria, Alhaji Atiku Abubakar has reacted to the genocidal threat to the Igbos to vacate Lagos and the other Southwest states on a specified date.

    There are calls on social media, trending under the hashtag #IgboMustGo on X, demanding the forced relocation of Igbo people from Lagos and other Southwest states.

    Atiku, the presidential candidate of the Peoples Democratic Party, PDP, in 2023, said the call was deeply troubling.

    In a statement made available by his spokesman, Mr. Paul Ibe, the former VP said such rhetoric was not only divisive but also endangered peace and security, as the constitution guaranteed every Nigerian the right to live and work freely anywhere in the country.

    “History has shown us the consequences of allowing hatred and bigotry to fester, as seen in Rwanda. What began with inflammatory rhetoric led to devastating outcomes. We must learn from these lessons and act decisively.

    “I call on the Nigerian government and relevant authorities to take immediate and strong action against those inciting such hatred and division.

    “It is imperative to investigate, arrest, and prosecute individuals promoting ethnic discrimination and violence. The rule of law must prevail, and those found guilty of incitement should face the full extent of legal consequences.

    “Nigeria’s strength lies in its diversity, and we must resist any efforts to sow discord among our people. Lagos and the Southwest have long been melting pots of cultures where individuals from various backgrounds contribute to our collective growth and development.

    “The Igbo community, along with all other ethnic groups, is an integral part of this vibrant mosaic.

    “I urge all Nigerians to stand united against this divisive rhetoric and to champion unity, tolerance, and understanding. Our future depends on our ability to live and work together harmoniously.

    “The government and security agencies must act swiftly to protect this fundamental principle and ensure that every Nigerian can live free from fear of discrimination or persecution.

    “It is alarming that, five days after this threat emerged, there has been a troubling silence. Immediate action to arrest, investigate, and prosecute those behind this heinous agenda is crucial. This will serve as a deterrent to others who might consider pursuing similar paths that threaten our national security,” he said.

  • Hunger Protest: 4 Killed At Kime Filling Station In Maiduguri

    According to Sources, the victims are still in the pool of their blood at press time, even as the video has gone viral on Social Media Platforms.

     Hunger Protest

    As the protests turn chaotic in Maiduguri, four individuals suspected to be workers have been killed at the Kime filling station near Bolori junction in the city.

    According to Sources, the victims are still in the pool of their blood at press time, even as the video has gone viral on Social Media Platforms.

    Already, Police authorities have imposed a 24-hour curfew in the state, citing violence that escalated in the nationwide protests and the Bomb blast that took place in Kawuri village of Konduga local government area of the state which left 20 people dead with 16 injured.

    Unconfirmed reports indicated that the victims/workers of the filling station were shot as a result of stray bullets, while other versions revealed that there was no sign of bullets/gunshots on the victims.

    Speaking to one of the filling station attendants, Baba Musa in a telephone call, said, “It was an explosion that took place and killed four persons instantly, while I managed and escape unhurt”.

    The Chairman of the Independent Marketers Association of Nigeria (IPMAN) Borno State branch, Alhaji Mohammed Kuluwu confirmed the killing of four persons at Kime filling station in the afternoon, but said, he has been making contact with the Director of the affected station, but couldn’t get his phone line to ascertain details of what led to the killing of the victims.

  • Protest: Police Warn Against Acts Of Violence, Destruction Of Infrastructure In Yobe

    Protest: Police Warn Against Acts Of Violence, Destruction Of Infrastructure In Yobe

    Yobe state Command of the Nigeria Police Force has condemned the destruction of public and private property in today’s protest in Potiskum, Gashu’a and Nguru Local Government areas.

    The command in a statement via its Public Relations Officer, DSP Dungus Abdulkarim, also described the situation as an unacceptable act of lawlessness.

    “The police command is fully prepared and geared up towards maintaining public order and safety and will strictly enforce the curfew imposed by the State Government in the affected areas.

    “While recognizing the right to peaceful assembly, the command stresses that this right is not absolute and must not infringe on the rights of others. Any criminal acts will be met with firm resistance”, it said.

    It warned individuals with malicious intentions that any further acts of violence will be dealt with decisively.

    Recall that, protesters in Potiskum town had earlier in the day set ablaze vehicles at the local government secretariats, which led to the imposition of 24-hour curfew in the town along side Gashu’a and Nguru aimed at restoring law and order.

  • Week 5 Betking pool code this Saturday August 3, 2024

    Week 5 Betking pool code this Saturday August 3, 2024

    Week 5 Betking pool code for this week Saturday Fixtures, August 3, 2024.

     

    This newsonline Nigeria portal contains week 5 Betking pool code:  This week Betking Pool Codes for this Saturday pool fixtures 2024 can be accessed here on Ejes Gist Sports.

     

    Week 5 Betking Pool Code for Saturday Fixtures August 3 , 2024: The Betking Pool codes for this weekend are published every week for informational purposes only. We do not encourage anyone to risk their money. Any row or column left blank on Week 5 Betking Pool Code for this weekend will be subsequently updated during the week. Always check back for updates.

     

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    Week 5 Betking Pool Code for this weekend matches fixtures.

     

    Current pool fixtures and Betking pool codes for this week.

    Pool Fixtures
    1 Celtic Kilmarnock 19765
    2 Dundee Utd. Dundee 19714
    3 Hearts Rangers 19699
    4 Motherwell Ross County 19748
    5 St Mirren Hibernian 19724
    6 Airdrie Raith 26134
    7 Hamilton Ayr Utd. 26137
    8 Livingston Dunfermline 26130
    9 Partick Morton 26139
    10 Alloa Queen O’Sth 26781
    11 C. Rangers Annan 26762
    12 Inverness Dumbarton 26805
    13 Montrose K. Hearts 26812
    14 Stenhsemuir Arbroath 26841
    15 Bonnyrigg RA Peterhead 31291
    16 Edinburgh C. Stirling A. 23618
    17 Elgin East Fife 31317
    18 Forfar Clyde 31269
    19 Stranraer Spartans FC 31298
    20 Antwerp Anderlecht 25035
    21 Cercle Brugge Kortrijk 15280
    22 Gent FCV Dender 15304
    23 KV Mechelen Westerlo 15257
    24 OH Leuven Genk 22773
    25 St’d Liege Club Brugge 25102
    26 St.Truiden Charleroi 25002
    27 Grasshoppers Basel 35129
    28 Lausanne St Gallen 23892
    29 Lugano Servette 23184
    30 Luzern Sion 23898
    31 Winterthur Yverdon 23931
    32 Young Boys FC Zuerich 24126
    33 Copenhagen Randers 25073
    34 Lyngby Brondby 15313
    35 Midtjylland Aalborg 15252
    36 Silkeborg Viborg 26462
    37 Bromma’karna Halmstad 15122
    38 Djurgaarden Gothenburg 23860
    39 GAIS Norrkoping 23833
    40 IFK Varnamo Sirius 23798
    41 Kalmar Hammarby 23863
    42 Vaesteraas SK AIK 23847
    43 Bodoe/Glimt Haugesund 24990
    44 Fredrikstad KFUM 28028
    45 Ham-kam Viking 10308
    46 Kristiansund Lillestrom 28033
    47 Rosenborg Tromso 10303
    48 Sarpsborg 08 Sandefjord 10300
    49 Stromsgodset Brann 28031

     

    Betking booking codes for week 5 – See Codes

    It is important to note the following.
    • The betking codes are updated regularly, please endeavour to re-check!
    • Changes to the betking pools codes  can be adjusted anytime.

    This concludes the information regarding the Betking pool code for week 5, which includes a triple this weekend.

    Note: Please return every week to see the weekly code, which will be published as soon as it is available.

     

    Read Also Week 5 pool result 2024: Sat August 3 AUSSIE pool results Wk 5

    Week 5 Pool Fixtures 2024: Sat August 3 AUSSIE Pool fixture wk 5 – poolfixtures

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    Week 5 betking pool code for this week.

    Week 44 Betking Pool Code

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  • Week 5 Bet9ja pool code for this Saturday August 3, 2024

    Week 5 Bet9ja pool code for this Saturday August 3, 2024

    Week 5 bet9ja pool code this week Saturday August 3, 2024 pool Fixtures and bet9ja pool result.

     

    This online portal contains Week 5 Bet9ja Pool Code :  This Week 5 Bet9ja Pool Codes for this Saturday pool fixtures 2024 can be accessed here on Ejes Gist Newsonline Nigeria.

     

    The Week 5 Bet9ja Pool Codes 2024 for Saturday Fixtures wk 5: Every week, bet9ja pool result for this weekend football fixtures are published for informational purposes only. More so, any rows that are left blank during the week will be updated. Keep an eye out for the latest updates on Bet9ja Pool Codes for this week.

     

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    Bet9ja Codes for Week 5 Pool Fixtures is free for all those who are interested. 

     

    Week 5 Bet9ja Pool Code for this weekend matches are;

    Pool Fixtures
    1 Celtic Kilmarnock 1587
    2 Dundee Utd. Dundee 1104
    3 Hearts Rangers 1569
    4 Motherwell Ross County 1178
    5 St Mirren Hibernian 1533
    6 Airdrie Raith 1428
    7 Hamilton Ayr Utd. 1427
    8 Livingston Dunfermline 1450
    9 Partick Morton 1447
    10 Alloa Queen O’Sth 1500
    11 C. Rangers Annan 1423
    12 Inverness Dumbarton 1520
    13 Montrose K. Hearts 1509
    14 Stenhsemuir Arbroath 1424
    15 Bonnyrigg RA Peterhead 5991
    16 Edinburgh C. Stirling A. 3529
    17 Elgin East Fife 3116
    18 Forfar Clyde 6028
    19 Stranraer Spartans FC 5948
    20 Antwerp Anderlecht 2136
    21 Cercle Brugge Kortrijk 1883
    22 Gent FCV Dender 2669
    23 KV Mechelen Westerlo 1888
    24 OH Leuven Genk 2133
    25 St’d Liege Club Brugge 2118
    26 St.Truiden Charleroi 2060
    27 Grasshoppers Basel 1266
    28 Lausanne St Gallen 1117
    29 Lugano Servette 1430
    30 Luzern Sion 1237
    31 Winterthur Yverdon 1285
    32 Young Boys FC Zuerich 1234
    33 Copenhagen Randers 1083
    34 Lyngby Brondby 1803
    35 Midtjylland Aalborg 2494
    36 Silkeborg Viborg 1184
    37 Bromma’karna Halmstad 1921
    38 Djurgaarden Gothenburg 1911
    39 GAIS Norrkoping 1652
    40 IFK Varnamo Sirius 1878
    41 Kalmar Hammarby 1917
    42 Vaesteraas SK AIK 1890
    43 Bodoe/Glimt Haugesund 1017
    44 Fredrikstad KFUM 1264
    45 Ham-kam Viking 2006
    46 Kristiansund Lillestrom 1090
    47 Rosenborg Tromso 2000
    48 Sarpsborg 08 Sandefjord 1271
    49 Stromsgodset Brann 1246

    Bet9ja booking codes for week 5 – See Codes

    That is the Week 5 Bet9ja Pool Code for this weekend.

    It is crucial to note the following.
    • The Bet9ja codes are updated regularly, please endeavour to re-check!
    • Changes to the Bet9ja pools codes  can be adjusted anytime.

    Current Fixtures Bet9ja Pool Code for this week pool fixture 2024 …

     

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    Week 44 Bet9ja Pool Code

     

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    Week 5 Pool Fixtures Sat August 3, 2024: AUSSIE Pool fixture wk 5 | poolfixtures

     

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