Author: NPO Admin I

The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local assets. The currency dropped to 1,712 naira per dollar in late trades on the official market and to around the same level on the unofficial market after extending losses. Africa’s largest economy has been experiencing crippling dollar shortages that have pushed its currency to record lows, though central bank Governor Olayemi Cardoso has said that foreign exchange liquidity is improving. The latest fall on the currency…

By Femi Alabi The Academic Staff Union of Universities, (ASUU) Abuja zone, on Monday said no fewer than 46 academics lost their lives in universities under the Abuja zone. ASUU lamented the death of its members owing to Economic hardship in the country alongside poor remuneration of academics and unfavourable working conditions. The union identified the Universities in Abuja zone where members had died as the University of Abuja, Federal University of Technology, Minna, Federal University, Lafia, Nasarawa State University, Nasarawa, and the Ibrahim Babaginda University, Lapai. The union said it recently lost an eminent Professor of Fisheries, Johnson Oyero,…

By Femi Alabi The University of Ilorin has expelled 9 students of the institution found guilty of examination malpractices In a statement issued by the Director of Information of the University, Mr. Kunle Akogun, made available to journalists in Ilorin today, the Vice Chancellor Professor Wahab Olasupo Egbewole SAN approved their expulsions following recommendations of the Students Disciplinary Committee. He said, “The Vice Chancellor’s approval of their expulsion was sequel to the recommendations of the Students’ Disciplinary Committee at its 219th meeting held on Wednesday and Thursday, January 10 and 11, 2024 respectively.” The affected students are Lateef Lukman…

By Femi Alabi The Academic Staff Union of Universities (ASUU) has complained that its members are paid incomplete two months salaries out of the seven and a half months withheld monthly pay. ASUU Abuja zonal coordinator, Comrade Salahu Mohammed Lawal, stated this at a press conference in Abuja on Monday. President Bola Tinubu had in October 2023 approved the release of four of the eight-month withheld ASUU members’ salaries. The salaries were withheld when the administration of former President Muhammadu Buhari invoked a ‘No Work, No Pay’ policy against some university-based unions that embarked on a strike that lasted eight…

Protesters Demand End to Hardship By Femi Alabi A group of protesters in their hundreds on Monday, defied police warning and staged peaceful demonstration across different parts of the city of Ibadan, the Oyo State capital. The State Police Command had earlier warned against any protests without prior notice to before such action was embarked upon saying unscrupulous elements could hijack it for criminal purposes. Police noted that it would not allow any form of violation of public order that could lead to breach of public peace. Defying the police warning, the protesters, who stormed some major areas within…

By Femi Alabi United Nations Mission for the Referendum in Western Sahara (MINURSO) has appointed Brigadier General Gabriel Olufemi Esho as the Deputy Force Commander. The Nigerian Army on it’s official X handle described the appointment as a groundbreaking moment for Nigeria and Africa. General Esho becomes the first Nigerian to hold such a position within MINURSO. having Commodore Faustina Boakyewwa Anokye from the Ghana Navy as his predecessor. MINURSO was established by the United Nations Security Council in 1991 with the primary objective of overseeing the referendum on self-determination for the people of Western Sahara. “It was a groundbreaking…

By Femi Alabi Officers of the Economic and Financial Crimes Commission EFCC have arrested a banker and a Point of Sales cashier for selling naira not for commercial purposes. According to a statement on official X handle of EFCC, the suspects were arrested in the early hours of Friday, February 15, 2024, at Ecobank, Rumuobiakani and Maddox Night club, new Government Reservation Area, GRA, Port Harcourt, Rivers State. The suspests are Soberechukwu Inya Ewa, a banker and a Point of Sales, POS, cashier, Azubuike Mamwu Obasi who were in procession of N554,600.00 as at the time of arrest. “Preliminary investigation…

By Femi Alabi The Presidency has said that a policy in which $1.5bn is spent monthly to shore up the naira will only aid financial malpractices and further hurts Nigeria economy. It also added that controlled floatation of the naira to prevent further devaluation would only return the country’s economy to the dark days of former Governor of the Central Bank of Nigeria, Godwin Emefiele. The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, made this assertion in a statement he signed Sunday titled, ‘Once again, former Vice President Atiku Abubakar got it wrong.’ Onanuga was…

By Halimah Olamide As the Lagos Government continues to remove all shanties under bridges in many parts of the state, Governor Babajide Sanwo-Olu has revealed plans to turn the locations into recreational facilities to enhance the beauty of the state. The governor stated this when he personally inspected the Obalende under-bridge where officials of the Ministry of Environment and Water Sanitation brought down the shanties that had housed thousands for decades. Sanwo-Olu said never again will authorities permit people to make under bridges their homes adding that the developments being brought to the state wont be appreciated with such illegal…

By Kamil Opeyemi The Peoples Redemption Party (PRP) has asked Minister of State, Defence, Bello Matawalle, to stop his threats against Nigerians who criticizing the economic collapse and rising insecurity in the country. The party said citizens, who have been boxed into the corners of penury must be allowed to voice out their frustrations without any form of intimidations. “As a democratic institution committed to the welfare and progress of our nation, we in the PRP, find such threats not only unwarranted but also an affront to the fundamental rights of citizens to express their opinions as enshrined in the…