Month: August 2024

  • Presidential Jet Seizure: Tinubu’s Lawyer Rotimi Oguneso Pocketed $170,000 as Member of 3-member Arbitration Panel That Unanimously Awarded $70 Million Against Nigeria

    Presidential Jet Seizure: Tinubu’s Lawyer Rotimi Oguneso Pocketed $170,000 as Member of 3-member Arbitration Panel That Unanimously Awarded $70 Million Against Nigeria

    Tinubu’s Lawyer Rotimi Oguneso Earned $170,000 as Member of Arbitration Panel Awarding $70 Million Against Nigeria.

     

    Rotimi Oguneso, a senior Nigerian lawyer who defended Bola Tinubu during the 2023 presidential election petitions tribunal, has come under scrutiny for earning $170,000 as a member of a three-man arbitration panel that awarded $70 million against Nigeria.

    Read Also : Anyone Applying To Go To University In Nigeria From Next Year Will Have To Meet The Required Age Of 18 – Education Minister, Tahir Mamman

    The panel was convened to resolve a dispute stemming from a botched free trade zone deal between Ogun State and Zhongshan Fucheng Industrial Investment Ltd.

    Oguneso, nominated by Nigeria to represent its interests on the panel, worked alongside Matthew Gearing, a UK legal practitioner chosen by Zhongshan, and David Neuberger, former president of the UK Supreme Court, who chaired the arbitration.

    Pay Attention To: Transfer: West Ham To Sign Ex-Chelsea Striker As O’Shea Joins EPL Club Ipswich

    The panel operated between early 2020 and March 26, 2021, when the final verdict was issued.

    The dispute revolved around allegations by Zhongshan that Ogun State had violated a 2001 trade treaty between Nigeria and China by rescinding rights to a free trade zone in 2016.

    The arbitration concluded with Nigeria being ordered to pay $55,675,000 plus $9,400,000 in interest, alongside £2,864,445 in costs.

    Nigeria was further required to refund Zhongshan for the costs of the arbitration panel, which amounted to £549,655.

    The panel’s decision, in which Oguneso concurred, has sparked concerns that the case against Nigeria was stronger than previously acknowledged by the country’s officials.

    Despite efforts by Nigerian federal and Ogun State officials to downplay the arbitration’s impact, the judgement has already led to the seizure of Nigerian assets abroad, including guest houses in the UK and private jets in France and Canada.

    How NIA DG, Rufai Abubakar, Who Failed Promotion Exams Three Times, Was Forced to Resign from Tinubu’s Govt

    Nigeria has denied any wrongdoing and is reportedly working to resolve the matter with the Chinese firm. However, the arbitration’s outcome has raised significant questions about Nigeria’s handling of international trade agreements and its legal defenses in global arbitration disputes.

    12 Things to Know About the New CJN Kekere-Ekun, Blocked from the U.S. for Judicial Corruption

    Credit:  Peoples gazette 

  • BBNaija Season 9: Zinwe Becomes Fifth Pair Duo To Be Evicted

    BBNaija Season 9 pair, Zinwe, consisting of Zion and Chinwe have been evicted from the reality show.

    This eviction marks the fifth pair to leave the house, leaving only nine pairs to compete for the prize.

    Initially, five pairs were up for eviction: Wanni x Handi (Wanni and Handi), Doublekay (Kellyrae and Kasia), Chekas (Onyeka and Chizoba), Beta (Ben and Tjay), and Zinwe (Zion and Chinwe).

    By the public’s votes, the ‘Zinwe’ pair received the lowest votes, followed closely by Beta and Chekas.

    The public’s decision marks a significant turning point in the season, as the remaining pairs must now navigate their relationships, alliances, and strategies to stay in the game.

    The eviction of Zinwe sets the stage for a thrilling competition, and fans can expect the unexpected twists and turns as the season unfolds.

  • Ex-Rep, Luke Tasks CJN On Image Of Judiciary

    Ex-Rep, Luke Tasks CJN On Image Of Judiciary

    A former member of the House of Representatives, Hon. Onofiok Luke has urged the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun to embark on significant reforms that would strengthen the rule of law and enhance the image of the justice system.

    Luke, a former Chairman, House Committee on Judiciary, in a statement issued on Sunday said her appointment was a well-deserved recognition of her outstanding contributions and unwavering commitment to the legal profession in the country.

    The former lawmaker expressed optimism that the judiciary would reach new levels of efficiency under Kekere-Ekun.

    Luke noted: “My Lord, Hon. Justice Kudirat Kekere-Ekun, I extend my heartfelt congratulations to you on your appointment as the Chief Justice of Nigeria.

    “I am confident that, with Your Lordship’s experience, the Nigerian judiciary will reach new levels of efficiency.

    “I have no doubt that you will usher in reforms that will empower the judicial workforce and improve working conditions.

    “I am eagerly anticipating the significant reforms during your tenure that will strengthen the rule of law and enhance the image of our justice system.”

    Luke added that the recent assent by President Bola Tinubu to the Bill for an upward review of the salaries and emoluments of judicial officers was a milestone that would have an even greater impact under Kekere-Ekun’s leadership.

    He was of the opinion that the commitment by the executive underscored the persistent advocacy efforts over the years, including those during his tenure as Chairman of the House of Representatives Committee on Judiciary.

  • Week 9 Bet9ja pool code for this Saturday August 31, 2024

    Week 9 Bet9ja pool code for this Saturday August 31, 2024

    Week 9 bet9ja pool code for this week Saturday August 31, 2024 pool Fixtures and bet9ja pool result.

     

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    The Week 9 Bet9ja Pool Codes 2024 for Saturday Fixtures wk 9, week 9 bet9ja Code: 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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    Week 9 bet9ja pool code for this week 2024 today matches are;

    Pool Fixtures – Click Here

    Pool Result – Click Here

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    Pool Fixtures
    1 Arsenal   Brighton 2825
    2 Brentford   Southampton 2821
    3 Chelsea   Crystal P. 6018
    4 Everton   Bournemouth 2827
    5 Ipswich   Fulham 2823
    6 Leicester   Aston V. 1856
    7 Man Utd.   Liverpool 6016
    8 Newcastle   Tottenham 6013
    9 Nott’m For.   Wolves 2853
    10 West Ham   Man City 2830
    11 Burnley   Blackburn 2369
    12 Cardiff   Middlesbro 2277
    13 Coventry   Norwich 1400
    14 Derby   Bristol C. 2377
    15 Leeds   Hull 2293
    16 Millwall   Sheff Wed. 1383
    17 Oxford Utd.   Preston 2301
    18 Plymouth   Stoke 1220
    19 Portsmouth   Sunderland 2378
    20 Sheff Utd.   Watford 2325
    21 West Brom   Swansea 2412
    22 Birmingham   Wigan 1994
    23 Blackpool   Wycombe 3074
    24 Bolton   Exeter 3014
    25 Bristol R.   Cambridge U. 2019
    26 Crawley   Barnsley 3077
    27 Mansfield   Stockport 3019
    28 Northampton   Burton A. 2040
    29 Peterboro   Wrexham 3090
    30 Reading   Charlton 3032
    31 Rotherham   Huddersfield 2057
    32 Shrewsbury   Leyton O. 3098
    33 Stevenage   Lincoln 3037
    34 Accrington   Colchester 1586
    35 A.Wimbledon   Fleetwood 3566
    36 Bromley   Crewe 3112
    37 Carlisle   Tranmere 2118
    38 Gillingham   Chesterfield 3919
    39 Grimsby   Bradford C. 1618
    40 Harrogate   Barrow 1791
    41 Morecambe   Newport Co. 1116
    42 Port Vale   Doncaster 3518
    43 Swindon   Notts Co. 1825
    44 Celtic   Rangers 2733
    45 Dundee   St Mirren 2730
    46 Hearts   Dundee Utd. 2724
    47 Kilmarnock   Hibernian 2734
    48 Ross County   Aberdeen 2732
    49 St J’Stone   Motherwell 2725

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    That is the Week 9 Bet9ja Pool Code for this weekend.

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    Current Fixtures bet 9ja pool code week 9 for this week pool fixture 2024 …

     

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    Week 9 Pool Fixtures 2024: UK Pool fixtures this week, August 31, 2024

     

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  • Week 9 Betking pool code this Saturday August 31, 2024

    Week 9 Betking pool code this Saturday August 31, 2024

    Week 9 Betking pool code for this week Saturday Fixtures, August 31 , 2024.

     

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    Week 9 betking pool code this week  Saturday Fixtures August 31, 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 9 Betking Pool Code for this weekend will be subsequently updated during the week. Always check back for updates.

     

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    Week 9 Betking Pool Code for this weekend matches fixtures.

    Current pool fixtures and betking pool code this week.

    Pool Fixtures
    1 Arsenal   Brighton 15093
    2 Brentford   Southampton 15100
    3 Chelsea   Crystal P. 15176
    4 Everton   Bournemouth 15105
    5 Ipswich   Fulham 15110
    6 Leicester   Aston V. 17036
    7 Man Utd.   Liverpool 15219
    8 Newcastle   Tottenham 15192
    9 Nott’m For.   Wolves 15096
    10 West Ham   Man City 15144
    11 Burnley   Blackburn 33673
    12 Cardiff   Middlesbro 33678
    13 Coventry   Norwich 33675
    14 Derby   Bristol C. 33702
    15 Leeds   Hull 33711
    16 Millwall   Sheff Wed. 33719
    17 Oxford Utd.   Preston 33734
    18 Plymouth   Stoke 33776
    19 Portsmouth   Sunderland 33776
    20 Sheff Utd.   Watford 13835
    21 West Brom   Swansea 33753
    22 Birmingham   Wigan 33698
    23 Blackpool   Wycombe 33671
    24 Bolton   Exeter 33726
    25 Bristol R.   Cambridge U. 33696
    26 Crawley   Barnsley 33704
    27 Mansfield   Stockport 33728
    28 Northampton   Burton A. 33723
    29 Peterboro   Wrexham 33944
    30 Reading   Charlton 33746
    31 Rotherham   Huddersfield 33684
    32 Shrewsbury   Leyton O. 33743
    33 Stevenage   Lincoln 33747
    34 Accrington   Colchester 33692
    35 A.Wimbledon   Fleetwood 33688
    36 Bromley   Crewe 33707
    37 Carlisle   Tranmere 33715
    38 Gillingham   Chesterfield 33679
    39 Grimsby   Bradford C. 33725
    40 Harrogate   Barrow 33700
    41 Morecambe   Newport Co. 33749
    42 Port Vale   Doncaster 33709
    43 Swindon   Notts Co. 33758
    44 Celtic   Rangers 17643
    45 Dundee   St Mirren 17347
    46 Hearts   Dundee Utd. 17399
    47 Kilmarnock   Hibernian 17405
    48 Ross County   Aberdeen 17430
    49 St J’Stone   Motherwell 17412

     

    That is all the Week 9 Betking booking codes for this weekend. For advance betking code see at – 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 9, 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 9 Pool Fixtures 2024: UK Pool fixtures this week, August 31 , 2024

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    Week 9 betking pool code for this week.

    Week 9 Betking Pool Code

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  • Anyone Applying To Go To University In Nigeria From Next Year Will Have To Meet The Required Age Of 18 – Education Minister, Tahir Mamman

    Minister of Education, Tahir Mamman has stated that anyone applying to get admission to the university from next year would have to be 18 years of age.

    He disclosed this on Channels Television’s “Sunday Politics” that the Federal Government has instituted a new age policy for secondary school leaving examinations, setting the minimum age at 18.

    Underage candidates will no longer be allowed to sit for the West African Senior School Certificate Examination (WASSCE) and the Senior School Certificate Examination (SSCE), both crucial for advancing to tertiary education.

    The directive affects the West African Examinations Council (WAEC), which administers the WASSCE, and the National Examinations Council (NECO), responsible for the SSCE. Additionally, Minister Mamman confirmed that the age limit to undertake the Unified Tertiary Matriculation Examination (UTME), overseen by the Joint Admissions and Matriculation Board (JAMB), will also be 18.

    He said;

    “It is 18 (years). What we did at the meeting that we had with JAMB (in July) was to allow this year and for it to serve as a kind of notice for parents that this year, JAMB will admit students who are below that age but from next year, JAMB is going to insist that anybody applying to go to university in Nigeria meets the required age which is 18.

    “For the avoidance of doubt, this is not a new policy; this is a policy that has been there for a long time. Even basically if you compute the number of years pupils, and learners are supposed to be in school, the number you will end up with is 17 and a half – from early child care to primary school to junior secondary school and then senior secondary school. You will end up with 17 and a half by the time they are ready for admission.

    “So, we are not coming up with new policy contrary to what some people are saying; we are just simply reminding people of what is existing. In any case, NECO and WAEC, henceforth will not be allowing underage children to write their examinations. In other words, if somebody has not spent the requisite number of years in that particular level of study, WAEC and NECO will not allow them to write the examination.”

    The minister went further to give a breakdown of the number of years pupils are expected to spend between child care and senior secondary school. According to him, early care is expected to last for the first five years. Pupils are expected to begin primary one at the age of six, spend six years in primary school and move to junior secondary school at the age of 12, spend three years, before moving to senior secondary school at the age of 15, to spend three more years and leave for university at the age of 18.
     

  • Week 9 Pool Banker Room 2024 – Pool Draw This Week Sat August 31, 2024 – Sure Banker This Week UK

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  • Week 9 Pool Fixtures 2024: Wk9 UK Football Pool Fixture Sat, August 31, 2024

    Week 9 Pool Fixtures 2024: Wk9 UK Football Pool Fixture Sat, August 31, 2024

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    WEEK: 9; SEASON: UK 2024/2025; DATE: 31-08-2024
    Ablefast fixtures this week Status
      Home Team  HT FT Away Team 
    1 Arsenal     Brighton EKO
    2 Brentford     Southampton Saturday
    3 Chelsea     Crystal P. Sunday
    4 Everton     Bournemouth Saturday
    5 Ipswich     Fulham Saturday
    6 Leicester     Aston V. Saturday
    7 Man Utd.     Liverpool Sunday
    8 Newcastle     Tottenham Sunday
    9 Nott’m For.     Wolves Saturday
    10 West Ham     Man City LKO
    11 Burnley     Blackburn EKO
    12 Cardiff     Middlesbro EKO
    13 Coventry     Norwich EKO
    14 Derby     Bristol C. Saturday
    15 Leeds     Hull Saturday
    16 Millwall     Sheff Wed. Saturday
    17 Oxford Utd.     Preston Saturday
    18 Plymouth     Stoke Saturday
    19 Portsmouth     Sunderland Saturday
    20 Sheff Utd.     Watford Sunday
    21 West Brom     Swansea Saturday
    22 Birmingham     Wigan Saturday
    23 Blackpool     Wycombe EKO
    24 Bolton     Exeter Saturday
    25 Bristol R.     Cambridge U. Saturday
    26 Crawley     Barnsley Saturday
    27 Mansfield     Stockport Saturday
    28 Northampton     Burton A. Saturday
    29 Peterboro     Wrexham Saturday
    30 Reading     Charlton Saturday
    31 Rotherham     Huddersfield EKO
    32 Shrewsbury     Leyton O. Saturday
    33 Stevenage     Lincoln Saturday
    34 Accrington     Colchester Saturday
    35 A.Wimbledon     Fleetwood Saturday
    36 Bromley     Crewe Saturday
    37 Carlisle     Tranmere Saturday
    38 Gillingham     Chesterfield EKO
    39 Grimsby     Bradford C. Saturday
    40 Harrogate     Barrow Saturday
    41 Morecambe     Newport Co. Saturday
    42 Port Vale     Doncaster EKO
    43 Swindon     Notts Co. Saturday
    44 Celtic     Rangers Sunday
    45 Dundee     St Mirren Saturday
    46 Hearts     Dundee Utd. Sunday
    47 Kilmarnock     Hibernian Saturday
    48 Ross County     Aberdeen LKO
    49 St J’Stone     Motherwell Saturday

     

    That is all on Week 9 UK Football Poolfixtures. See Week 9 UK Football  Pool Result.

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  • Transfer: West Ham To Sign Ex-Chelsea Striker As O’Shea Joins EPL Club Ipswich

    Transfer: West Ham To Sign Ex-Chelsea Striker As O’Shea Joins EPL Club Ipswich

    West Ham United are looking in to the possibility of bringing former Chelsea striker, Tammy Abraham back to the Premier League this summer transfer window.

    The England international currently plays in Italy with AS Roma.

    But according to Italian football journalist, Filippo Biafora, the Hammers are keen to make a late swoop for Abraham before transfer deadline day.

    However, Abraham’s wages could be a stumbling block.

    Meanwhile, in another development, Ipswich Town announced the signing of Irish centre back, Dara O’Shea.

    In a post on their X account on Sunday, the Premier League club said, O’Shea signed a five-year deal with the club from Burnley.

    “A five-year deal for Dara O’Shea, who joins us for an undisclosed fee from Burnley!” Ipswich tweeted.

  • I Fed Over 2,500 People In Maximum Prison Kirikiri – Bobrisky Reveals

    Bob

    Bobrisky
     

    Popular Nigerian crossdresser, Idris Okuneye aka Bobrisky has revealed that while he was remanded at the Kirikiri correctional centre for Naira abuse, he fed over 2500 inmates.

    In a post shared on Instagram on Sunday, August 25,  Bobrisky said the situation he met the inmates in prison left him heartbroken.

    He disclosed that he ordered 5 cows, 10 bags of rice and five baskets of tomatoes to feed them.

    Bobrisky also revealed that he gave money to the inmates.

    ‘’I will always be proud of myself . I fed over 2,500 people in maximum prison Kirikiri. The situation i met them was heartbroken. I order 5 giant cows, 10 bag of rice, 5 full basket of tomatoes so i could feed them all and i also gave them money”

    post

    tomatoes

    rice

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  • Okonjo-Iweala: Nigeria’s Average GDP Growth Rate Has Remained Negative Since 2014

    Okonjo-Iweala: Nigeria’s Average GDP Growth Rate Has Remained Negative Since 2014

    Nigeria’s Average GDP Growth Rate Has Remained Negative Since 2014 – Okonjo-Iweala

    The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has raised concerns about Nigeria’s economic trajectory, revealing that the country’s average Gross Domestic Product (GDP) growth rate has been negative since 2014.

    Speaking at the Nigerian Bar Association’s (NBA) annual General Conference, Okonjo-Iweala highlighted that this downturn contrasts sharply with the preceding decade (2000-2014), during which Nigeria’s average GDP growth rate was approximately 3.8%, outpacing the population growth rate of 2.6%.

    Read Also: Nigerian Newspaper Headlines – Top 10 News Stories You Should Read This Morning, August 26, 2024

    Okonjo-Iweala noted that the period of positive growth had allowed for a genuine improvement in the standard of living for many Nigerians. However, since 2014, the nation has experienced a reversal, with the average GDP growth rate declining to minus 0.9%. This negative growth, she emphasized, indicates a deterioration in the economic well-being of the average Nigerian, as the government has struggled to maintain the momentum of previous administrations.

    She attributed many of the challenges faced by the NBA and the broader Nigerian society to the country’s inability to sustain consistent economic growth. The former Finance Minister stressed the importance of policy consistency, warning that policy reversals and a lack of continuity have contributed to Nigeria’s economic woes.

    Pay Attention To: Education Minister Announces Age Restrictions for NECO, WAEC Exams

    Call for Sustained Economic Policies

    Okonjo-Iweala further advocated for the adoption of a social contract between the government and the populace, emphasizing the need for consistent and effective economic policies regardless of the political party in power. She argued that maintaining good economic policies, alongside the implementation of additional reforms, is essential for the nation to achieve sustained progress.

    What You Should Know

    According to a report from the National Bureau of Statistics (NBS), Nigeria’s GDP growth rate declined to 2.98% in the first quarter of 2024, down from 3.46% in the previous quarter. Although the growth rate is higher than the 2.31% recorded in the corresponding quarter of 2023, it still reflects the broader economic challenges facing the country.

    President Bola Tinubu has set an ambitious goal to transform Nigeria into a $1 trillion economy. However, analysts remain skeptical, citing concerns about high inflation, low employment rates, and rising national debt as significant obstacles to achieving this target.

    African Group Recommends Dr. Okonjo-Iweala for Second Term as WTO Director-General

    In a related development, the African Group has recommended Dr. Ngozi Okonjo-Iweala for a second term as the Director-General of the WTO. Her leadership has been widely praised, and her reappointment is seen as crucial for the continued advancement of global trade, particularly in the face of economic challenges affecting many African nations, including Nigeria.


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  • BBNaija S9: Wanni Makes U-Turn, Apologises To Shaun

    BBNaija S9: Wanni Makes U-Turn, Apologises To Shaun

    Big Brother Naija ‘No Loose Guard’ housemate, Wanni has rekindled her relationship with Shaun after initially declaring she was breaking up with him.

    DAILY POST reports that Wanni announced that she was breaking up with Shaun after Ebuka’s exposition of Shaun’s comment about her not being his first choice heightened the tension between the embattled couple.

    In a twist, Wanni went to Shaun late Sunday night to apologise for how she handled the issue between her, Shaun and her twin sister, Handi.

    She said, “I’m genuinely sorry. I have no argument to make. I shouldn’t have shoved you or even attacked Handi because it was not our fight.

    “It was me and you and I should have just apologise for the statement I made about Handi last night that caused every issue.

    “I’m really sorry. I didn’t mean to get you this worked up.”

    Shaun accepted her apology and they later kissed in the presence of the other housemates.

  • Dollar to Naira Exchange Rate Today August 26, 2024: Black Market and CBN official rates

    Dollar to Naira Exchange Rate Today August 26, 2024: Black Market and CBN official rates

    Dollar to Naira Exchange Rate Today Black Market and CBN official Exchange Markets:

     

    What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

     

    For many Nigerians, especially those engaged in foreign trade, travel, and investments, there is a nagging concern for the dollar-naira black market 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 dollar to naira 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 26, 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: N1610
    • Selling Rate: N1615

    Official CBN Rates

    • Buying Rate: N1589
    • Selling Rate: N1590

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    Understanding the Dollar to Naira 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: ₦2,073
    • Selling Rate: ₦2,074

    Euro to Naira (Black Market Rates)

    • Buying Rate: ₦1,768
    • Selling Rate: ₦1,780

    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 N1601, and the selling rate is N1602 as of August 26, 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 to so many Nigerians; it also underlines the depth and scope of challenges and opportunities encountered within the Nigerian economic landscape.

    Dollar to Naira Exchange Rate Today August 20, 2024: Black Market and CBN official rates

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

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    WhatsApp Threatens to Exit Nigeria Over FCCPC Demands, $260 Million Fine

     

    NAICOM Reconsiders Recapitalisation Amid Plans to Overhaul Regulation.

    The National Insurance Commission (NAICOM) is reconsidering the recapitalisation of Nigeria’s insurance sector as part of a broader initiative to enhance regulatory oversight and boost industry efficiency. This move comes years after a previous recapitalisation effort was halted due to legal challenges.

    The Commissioner for Insurance, Olusegun Omosehin, announced the potential recapitalisation during an interactive session with journalists in Lagos. Omosehin emphasized the regulator’s commitment to addressing the financial stability of insurance operators and hinted that new capital requirements could be introduced to strengthen the industry’s foundation.

    The planned recapitalisation, which could take place within the next two years, would position the insurance sector in direct competition with banks for scarce investment funds. This anticipated move is seen as a critical step towards tackling longstanding issues within the industry, including poor public confidence and delayed claims payments.

    NAICOM’s renewed focus on regulatory reform aims to address the negative perception of the insurance industry, which has been plagued by concerns over the reliability and responsiveness of operators. By implementing stricter capital requirements and enhancing regulatory capacity, the commission seeks to ensure that insurance companies are better equipped to meet their obligations and maintain financial stability.

    As the industry braces for the potential challenges and opportunities that recapitalisation may bring, stakeholders are closely monitoring NAICOM’s actions and the implications for the future of Nigeria’s insurance sector.

  • What Happens To All The Doctorate Degrees Splashed On Celebs – Yemi Solade Asks As FG Declares All Certificates From Universities In Benin Republic And Togo As Fake

    Popular actor, Yemi Solade has taken to his Instagram page to pose a question about doctorate degrees bestowed on Nigerian celebs by universities in Benin Republic and Togo.

    Recall that the Minister of Education, Tahir Mamman, recently disclosed that 22,789 Nigerians were parading fake degree certificates obtained from Benin Republic and Togo between 2019 and 2023.

     “We have had to take some major decisions here (at the ministry of education). Some staff members who were affected faced disciplinary measures. That whole unit had to undergo a review.  We cannot have in our midst people who procured fake certificates competing with students who graduated from universities and polytechnics through their sweat, some spending four, five, six or more years. They cannot be going out to compete with people who procured certificates right here in Nigeria without going anywhere. Through the data the NYSC has, about 21,684 students are parading fake certificates from Benin Republic obtained between 2019 to 2023, Togo about 1,105. They simply attended schools that are not recognised to offer degree programmes by those countries
    .” the Minister disclosed to newsmen recently

    Reacting to the development on his Instagram page on Sunday afternoon, Solade said;

     ‘’What Happens To ALL The ABSURD Doctorate Degrees Splashed On Nigerian Celebs Since FG Has Pronounced That Degrees Acquired From Benin Republic Since 2017 Are INVALID? #fakedegreescam #fake #cotonou #beninrepublic🇧🇯 #university #invaliddegrees” he wrote.

  • Nigerian Newspaper Headlines – Top 10 News Stories You Should Read This Morning, August 26, 2024

    Nigerian Newspaper Headlines – Top 10 News Stories You Should Read This Morning, August 26, 2024

    Top Nigerian Newspaper Headlines online Today,

    What are the top Nigerian Newspaper Headlines for Today? 

    Staying updated on the latest developments in Nigeria is essential, especially in today’s fast-paced world. Here are the top 10 Nigerian newspaper headlines for August 26, 2024, that capture the most significant news across the country. From breaking stories to in-depth analyses, these headlines reflect the top news in Nigeria this morning. Whether you’re interested in politics, business, or social issues, these latest Nigerian newspaper headlines will keep you informed. Dive into the top stories in Nigeria today and stay ahead with the latest updates.

    The latest Nigerian headlines for August:

    Here are ten top headlines from Nigerian newspapers for today, Monday, August 26, 2024:

    1. Gombe Gov To Pay N70,000 Minimum Wage: Governor Muhammadu Inuwa Yahaya of Gombe State has announced his intention to implement the new national minimum wage of ₦70,000 for workers in the state. The Deputy Governor, Dr. Manassah Jatau, confirmed this commitment during a meeting with the Nigeria Labour Congress (NLC) Gombe chapter. The state government has been paying a ₦10,000 monthly palliative since September 2023 to cushion the effects of subsidy removal.

    2. APC Criticizes PDP Over Alleged Harassment, Seeks Apology To Minister: The All Progressives Congress (APC) Youth Wing Mobilisation Vanguard has called on the People’s Democratic Party (PDP) elders in the North West to focus on their internal issues rather than involving the Minister of Defence, Hon. Bello Matawalle. The APC described the PDP’s allegations of harassment by the Minister as baseless and politically motivated.

    3. Ex-Sokoto Gov, Tambuwal Loses Brother: Former Governor of Sokoto State, Sen. Aminu Waziri Tambuwal, mourns the passing of his brother, Alhaji Ahmad Ibrahim Tambuwal, who died in Abuja after a brief illness. The funeral prayers were conducted at the Palace of the District Head of Tambuwal Local Government, and he was buried according to Islamic rites.

    4. 2024 NBA Conference: Stop Looting Our Nat’l Treasury, Okonjo-Iweala Tells Political Office Holders: WTO Director-General Dr. Ngozi Okonjo-Iweala has urged political office holders to cease looting the nation’s treasury. Speaking at the 2024 Nigerian Bar Association (NBA) Conference, she emphasized that Nigeria has not progressed as it should due to corruption and mismanagement.

    5. Rights Abuse: Tinubu Creating Another SARS – Atiku: Former Vice President Atiku Abubakar has criticized President Bola Tinubu’s administration for rising human rights abuses, comparing the situation to the disbanded Special Anti-Robbery Squad (SARS). Atiku highlighted cases of enforced disappearances and the misuse of the Cyber Crime Prevention Act to intimidate journalists and citizens.

    6. Disclose Details Of Chinese Loans, Liabilities, Repayments, Others, SERAP Tells Govs, Wike: The Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s 36 state governors and the Minister of the Federal Capital Territory, Abuja, Mr. Nyesom Wike, to disclose details of any Chinese loans, liabilities, and other external borrowing obtained, and guaranteed by the Federal Government as well as the terms and conditions for any such borrowing including the provisions on collateral.

     

    7. Two Police Officers Feared Killed, Three Injured As Shi’ites Launch Attack In Abuja: At least two police officers were killed and three others injured following an attack by members of the Islamic Movement of Nigeria (IMN), commonly known as Shi’ites, on some personnel of the Nigeria Police Force at Wuse Junction by traffic light on Sunday.

    8. 130 Yoruba Groups Meet In Lagos To Discuss State Of Nation: No less than 130 pan-Yoruba groups will gather in Lagos on Wednesday to discuss the state of the nation amid the economic crisis, insecurity, hardship, and calls for cessation from different groups in the country.

    9. Igbo Elders Demand Release Of Kanu, Other Political Prisoners: The United Igbo Elders Council (UNIEC) has called on the Federal Government to unconditionally release the incarcerated leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, and all political prisoners who are being detained in different parts of the country.

     

    Nigerian Newspaper Headlines – Top 10 News Stories You Should Read This Morning, August 25, 2024

    10. 36 States, FCT Get N3bn Each From Nigerian Govt To Combat Flooding, Boost Agriculture: The 36 states in the country and the Federal Capital Territory (FCT) will receive N3bn from the Federal Government in an effort to mitigate the impact of the recent flood disaster.

    That is all for today on Nigerian Newspaper Headlines. Click here more Naija News.

  • Malta Saga: Matrix Energy Seeks Court Protection Amid Accusations of Importing Substandard Petrol

    Malta Saga: Matrix Energy Seeks Court Protection Amid Accusations of Importing Substandard Petrol

    An indigenous oil company, Matrix Energy Limited, has petitioned the Federal Capital Territory (FCT) High Court to restrain two media outlets and other parties from further publishing what it deems defamatory articles concerning its oil shipping operations.

    In its court filings, Matrix Energy and its CEO, Abdulkadir Adisa Aliu, categorically denied allegations of colluding with “Nigeria’s economic enemies” to import adulterated, substandard, or low-quality petroleum products into the country. They argued that their products strictly adhere to regulatory standards, countering reports that linked the company to the importation of substandard petrol into Nigeria, particularly from Malta.

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    Malta Controversy

    On August 17, 2024, Matrix Energy’s spokesperson, Ibrahim Akinola, issued a statement addressing the controversy. He refuted claims made by an online publication, which implicated the company in the importation of petrol from Malta. Akinola stated that these reports were not entirely accurate.

    The controversy gained traction when Aliko Dangote, CEO of Dangote Refinery, alleged that certain oil operators were collaborating with the Nigerian National Petroleum Corporation (NNPC) to operate an illegal blending plant in Malta. This plant, according to Dangote, was responsible for importing substandard petroleum products into Nigeria.

    In response, NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, denied any connection to a refinery in Malta, pledging to prosecute any NNPC personnel or other individuals involved in such activities.

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    Notably, Nigeria’s petroleum imports from Malta surged significantly in 2023, reaching $2.8 billion. This sharp increase has raised concerns, especially considering that between 2017 and 2022, there were no imports, and in 2016, only $13.32 million worth of petroleum products were imported from Malta.

    Matrix Energy, in its August 17 statement, reiterated its compliance with all regulatory guidelines and denied the discharge of 200,000 metric tons of Premium Motor Spirit (PMS) into its facilities in July 2024, as claimed by the media. However, the company did not explicitly deny importing petrol from Malta or other sources, asserting its right, like all Nigerian oil operators, to source products globally, provided it complies with Nigerian and international laws.

    “Our Chief Executive Officer, Abdulkabir Adisa, is a talented and dedicated Nigerian with the right to associate freely as well as trade freely in any part of the world. As he stated in his presentation before the Nigerian Senate, we are not aware that Nigerian companies have been banned from bringing in legitimate and standard products from outside the country, and until such a ban is in place, we will continue to serve the public with the best quality products,” the company stated.

    Matrix Heads to Court

    Matrix Energy has now turned to the FCT High Court, seeking declaratory reliefs against certain media publications, including a retraction of the reports and over N10 billion in damages. The company’s legal representative, Ahmed Raji SAN, argued that the media organizations had “falsely and maliciously published” the contested reports against his clients.

    Raji highlighted that his client is a member of the Presidential Economic Coordination Council (PECC), a body tasked with developing sustainable strategies to enhance Nigeria’s economic governance framework. He urged the court to recognize the damage these reports could inflict on the company’s reputation and economic standing.

    What You Should Know

    The allegations against Matrix Energy come amid broader concerns over Nigeria’s trade relationship with Malta. Aliko Dangote had previously claimed that certain NNPC officials and oil traders were operating blending plants off Malta’s coast, a claim that NNPC’s GCEO, Mele Kyari, has vehemently denied.

    Despite these denials, Nigeria’s imports of petroleum products from Malta saw an unprecedented rise in 2023, sparking concerns about the integrity of the trade practices involved. As Matrix Energy pursues legal action, the court will weigh the evidence presented, considering the critical role of the media in holding corporations accountable while protecting against unwarranted defamation.

    The outcome of this case may set a significant precedent in the ongoing debate over media freedom and corporate responsibility in Nigeria’s oil industry.

  • Ejes Gist Media Limited Congratulates Emareyo as He Celebrates His Birthday at Okuama IDP Camp

    Ejes Gist Media Limited Congratulates Emareyo as He Celebrates His Birthday at Okuama IDP Camp

    Ejes Gist Media Limited Congratulates Ejiwealth Emareyo on His Birthday

    The management of Ejes Gist Media Limited extends warm congratulations to General Ejiwealth Emareyo, a distinguished humanitarian, visionary leader, and founder of the Ejiwealth Emareyo Foundation, on the occasion of his birthday, celebrated on Monday, August 26, 2024, at the Okuama IDP Camp in Ewu-Urhobo, Ughelli South LGA.

    General Emareyo’s unwavering dedication to serving others is an inspiration to us all. As the founder of the Ejiwealth Emareyo Foundation, he has made a significant impact on the lives of countless individuals, particularly those in need. His foundation’s work in providing essential aid, education, and healthcare to vulnerable communities is a testament to his compassionate spirit and steadfast commitment to social justice.

    His strong belief in the dignity and worth of every individual has driven him to champion the rights of the marginalized and vulnerable, making a profound difference in their lives.

    As the BOT Chairman of the Delta Indigenes Initiative for Good Leadership (DIIGL), General Emareyo has played a pivotal role in promoting good governance and advocating for the interests of the people of Delta State. His leadership and vision have contributed to positive change and development in the region.

    May this special day be filled with joy, peace, and blessings. We wish General Emareyo many more years of health, happiness, and continued success in his endeavors.

    Signed,
    Omajemite Ogheneyoma
    For Ejes Gist Media Limited

  • Transfer: Man Utd Forward Sancho In Shock Move To Chelsea

    Transfer: Man Utd Forward Sancho In Shock Move To Chelsea

    Chelsea are exploring a deal for Manchester United forward Jadon Sancho, according to Sky Sports.

    The Blues are looking at both a permanent and a loan deal for the 24-year-old.

    A proposal could also include a player being offered to go to United.

    It is understood that talks have taken place between the clubs.

    Juventus remain in discussions over a deal for Sancho.

    Any player Chelsea sign has to fit into their wage structure. Up to seven players are set to leave before Friday’s deadline.

    The average base wage of players Chelsea have been signing is below the £72,000-a-week Premier League average.

  • 30 Days Lockdown Threat: Simon Ekpa Exploiting Southeast Governor’s Weakness – Ohanaeze

     Simon Ekpa

    Okechukwu Isiguzoro, the factional Secretary-General of Ohanaeze, on Sunday, said the self-acclaimed Prime Minister of Biafra, Simon Ekpa was exploiting the weakness of Southeast governors to issue baseless threats.

    Isiguzoro was responding to Ekpa’s threat to lock down the Southeast from August 28 to September 26, 2024.

    Ekpa had threatened a 30-day lockdown of the Southeast over the insecurity in the region and the continued detention of Nnamdi Kanu, the Leader of the Indigenous People of Biafra.

    He claimed the decision was agreed upon in a virtual meeting by his Biafra Government in Exile, BRGIE, cabinet, saying that the lockdown would affect all Nigerian government offices in Imo, Abia, Enugu, Ebonyi and Anambra States in the South-East region.

    Reacting, Isiguzoro, said the recent meeting between the Southeast governors with former President Olusegun Obasanjo should have paved the way for a collective visit to President Bola Ahmed Tinubu to advocate for Kanu’s release.

    Isiguzoro called for an urgent reassessment of the Southeast governors’ strategies in addressing challenges confronting the region.

    In a statement he signed, Isiguzoro said: “There exists a palpable frustration among Nigerians and, particularly, the Igbo populace concerning the recent actions—or notable lack thereof—of the Southeast Governors in asserting their authority as the chief security officers of their respective states.

    “Their insufficient responses to pressing security challenges have allowed inconsequential figures, such as Simon Ekpa, to exploit their weakened stance, issuing baseless threats to disrupt economic activities and peace within the region by declaring an illegitimate lockdown from August 28 to September 26, 2024.

    “It is disheartening to witness a once-respected region, known for its notable leaders—such as the revered Dr Nnamdi Azikiwe, Dr Michael Okpara, Dr Francis Akanu-Ibiam, Dr Alex Ekwueme, Dimm Odumegwu Chukwuemeka Ojukwu and Chief Sam Mbakwe—become a source of mockery and derision due to the reckless antics of individuals like Simon Ekpa, who conducts his dubious activities from abroad, all the while diminishing our collective dignity.

    “It is imperative for them to focus on developing solutions rooted in indigenous methods, leveraging the unique cultural dynamics of the Igbo people, rather than relying solely on ineffective conventional approaches. We implore our governors to take decisive action towards engaging the Federal Government in the urgent matter of Nnamdi Kanu’s situation.”

    Isiguzoro asserted that Ohanaeze is steadfast in its commitment to finding genuine pathways to resolve the spiralling insecurity in the Southeast.

    “The absence of action in seeking Kanu’s release not only endangers our communities but also allows criminals masquerading as Biafran agitators to proliferate under the guise of activism. We hold the governors accountable for their constitutional duties to protect the lives and properties of the Igbo people.

    “Therefore, we extend a clarion call to the Southeast Governors, it is time to restore leadership and reclaim control of the region from the clutches of criminal elements. Should they neglect these responsibilities, the repercussions will be dire. Ohanaeze Ndigbo urges every Igbo individual to disregard the non-existent lockdown proclaimed by Simon Ekpa, and we will no longer tolerate decisions made in absentia that threaten our livelihoods.”

    Isiguzoro also called for vigilance as primary and secondary schools prepare for reopening.

    “It is crucial that our communities remain vigilant and resilient against these threats. Ohanaeze Ndigbo remains resolute in denouncing the illegitimate lockdown and will continue advocating for the protection and welfare of the Igbo people,” he added.

  • FG Clarifies School Fees for Federal Unity Colleges, Denies Fee Hike

    FG Clarifies School Fees for Federal Unity Colleges, Denies Fee Hike

    The Ministry of Education has issued a clarification regarding the reported increase in school fees for federal government secondary schools, commonly known as Unity Schools.

    This response follows a memo that circulated widely on social media, particularly on X (formerly Twitter) and also published by News Gist News Nigeria, which claimed that new students entering Unity Schools would be required to pay over ₦300,000, while old students would also face significant fees.

    FG Announces N386,000 Fees for Students in Unity Colleges

    The memo, which sparked reactions from the public and notable figures such as former Chairman of the National Human Rights Commission (NHRC), Professor Chidi Odinkalu, suggested that Unity Schools had implemented substantial fee increases.

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    However, the Ministry of Education has refuted these claims, reaffirming that Unity Schools continue to offer free education.

    In a statement released on Saturday and signed by the Ministry’s Director of Senior Secondary Education, Binta Abdulkadir, the circulated memo was described as fraudulent. The statement emphasized that the document did not originate from the Ministry and contained numerous errors, including incorrect addresses and spelling mistakes.

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    “The highest fees/charges paid by students in Federal Unity Colleges (FUCs) is the sum of One hundred thousand Naira (₦100,000.00) only,” the statement clarified. “This amount covers Boarding fees, Uniforms, Textbooks, Exercise books, and other items for new students. Tuition fees in all FUCs remain free.”

    The Ministry condemned the memo as a deliberate attempt to spread misinformation and create confusion among parents and the public. It advised anyone with concerns about the approved fees to visit the Ministry’s website or contact the nearest Unity School for accurate information.

    In conclusion, the Ministry urged the public to disregard the false document, stressing that Unity Schools continue to provide affordable education, with no significant fee increases as suggested by the fake memo.