The Central Bank of Nigeria (CBN) has said it successfully concluded a sale of government securities, issuing 1.053 trillion ($680 million) in short-term instruments.

The apex bank made this known in a statement on Monday by its acting Director, Corporate Communications Department, Hakama Sidi-Ali.

The CBN said the sale, which occurred on March 1, 2024, was part of its liquidity management exercise.

In a statement on Monday, the regulator said the 500 billion offered at the open market operations (OMO) auction was oversubscribed, selling 1.053 trillion.

According to the apex bank, 79 per cent of the total bids, or the equivalent of $530 million, came from foreign investors.

It is understood that the Friday auction was the first since the CBN’s monetary policy committee (MPC) meeting, which was followed by a virtual meeting with foreign portfolio investors.

The bank said Olayemi Cardoso, its governor, used both meetings to set a detailed strategy to curb inflation, stabilise the exchange rate, and spur confidence in the banking system and economy.

At the meeting with investors, Cardoso was said to have further highlighted an outlook for sustained increases in the CBN’s foreign currency reserves, improved liquidity in the foreign exchange (FX) market, and imminent settlement of the remaining backlog of genuine FX transactions by the CBN.

“The CBN is committed to supporting price stability by taking the necessary measures to increase liquidity in the foreign exchange markets sustainably,” the governor was quoted as saying.

“Our focus is on building a fully functioning market that allows smooth entry and exit for investors.”

BUA Cement has explained that the plan to sell a bag of cement for N3,500 has been crippled by market forces.

The company gave the explanation in response to the seven-day ultimatum given to its management by two civil society groups to sell its cement at N3,500 per bag or picket the company.

In response to the planned picketing of BUA cement office over the inability of the company to actualise its promise to crash the price of cement to sell at N3, 500, the company said it actually fulfilled that pledge.

Reacting to the LEADERSHIP enquiry, the head of Creatives & Visual Identity management at BUA Group, Mr Timothy Sogbeinde, explained that the company actually sold cement at N3, 500 ex-factory for months before it stopped.

To further clarify his response, Sogbeinde sent a recorded message done by the executive director, Mr Kabir Rabiu.

In that message, Kabir reiterated that, “we actually sold our cement for three to four months at N3,500. We thought other players in the cement industry would join us in making the price of cement affordable.”

According to Kabir, BUA could not continue with the N3, 500 sales as both the middlemen and wholesale agents did not allow the end-users who were the main targets for the reduction to benefit from the price.

Similarly, Kabir emphasised that though 90 per cent of raw materials for cement production are locally sourced, yet the production cost which includes rising exchange rate coupled with electricity generation did not encourage BUA to sustain the N3,500 for long.

It would be recalled that a Civil Society Group, early this week, gave the management of BUA a seven-day ultimatum within which to meet its demand or face the consequences.

The group made up of members of Advocacy for Good Governance and Rumen Royal Foundation, cited the wrong price list of its cement given to the country as reason for the ultimatum.

The leadership of Advocacy for Good Governance, Comrade Dr Bartholomew Okoudo and executive director, Rumen Royal Foundation, Patience Okhuahensuyi, also called on the management of BUA for public apology for ‘misleading Nigerians’ when it announced that price of its cement will be sold for N3, 500 whereas its cement is being sold at N10,000 per bag.

The group gave BUA 7-day ultimatum to slash price of its cement or face the consequences

Reiterating their call to BUA management to live by its word, they said: “that the false declaration by the BUA Group led to very serious consequences for Nigerians, particularly operators within the building and construction industry, as most of them who went for loans in banks to build structures, were disappointed when they realised that BUA cement is now N10,000 instead of N3, 500.”

The duo said they wondered why the BUA Group reneged on its promise to the new government in less than six months despite the current hardship in the country.

Residents of Abuja attacked and looted a truck carrying food items in Dei-Dei area on Monday morning, March 4. 

A video making the rounds on social media shows the residents stealings bags of food items from the truck. 

This comes barely 24 hours after a warehouse was also looted by hungry Nigerians in the FCT.

X influencer, Imran Muhammad, who shared the video online, wrote

‘’This morning, there was another incident of a truck carrying food items being looted in Daidai, Abuja.''

Watch the video below…

Super Eagles midfielder Alex Iwobi has made a return to social media after a short absence.

Iwobi deleted all his Instagram post following criticism that greeted his performance at the 2023 Africa Cup of Nations.

The 27-year-old was a subject of cyberbullying from Nigerian fans following the Super Eagles’ 2-1 final defeat to the Elephants of Cote d’Ivoire.

The Fulham star, however, received support from his teammates, the Nigeria Football Federation and Sports Ministry.

Iwobi has now shared a video on Instagram giving his fans and followers a glimpse of what he has been up to in recent times.

In the video, he also teased a snippet of what appears to be his unreleased rap song.

A number of his teammates including William Troost-Ekong, Frank Onyeka and Kenneth Omeruo took to the comment section to show their support.

Skit maker and actor, Samuel Animashaun Perry, aka Broda Shaggi, has said that when he decides to get married he won’t have an elaborate wedding.

The thespian explained that he is “not a fan of big weddings,” stressing that he loves keeping his life private.

Speaking in a recent interview with actress Iyabo Ojo, Shaggi also said that he won’t rush into marriage.

He said, “I am not a fan of big weddings. Even if I’m going to get married, I’m not a fan of big weddings.

“I don’t know if you’ve noticed, I keep personal life out of social media space. Because my personal life is very important to me and I just want to protect it.

“But I believe in love. I believe in one-man-one-woman type of love. I believe in family. I believe in raising my own kids.

“I’m going to have my own family by God’s grace but not very soon. There’s nothing like getting old. I do tell people, you don’t need to rush into marriage.”

Immediate past Ondo Deputy Governor Hon Agboola Ajayi, has said that he would emerge victorious at the governorship primary of the Peoples Democratic Party(PDP) scheduled to hold next month.

Ajayi, who declared his intention to contest as Governor at a media parley in Akure, said he would protest if the primary were smirk of transparency.

Ajayi said his decision to govern the State was because he has the capacity and experience to keep ‘everybody busy.’

The former Deputy Governor promised to build a railway system to link coastal communities to Kogi State if elected Governor of the Sunshine state.

He said the State has no business to build a seaport but to provide infrastructure in the riverine communities to attract private investors to build the seaport.

Ajayi said he understood how to run the State without relying on monthly allocation from the federation account.

He explained that the planned railway to link Kogi State would reduce the number of heavy duty trucks on the highway.

Ajayi said he would not defect from the PDP if the primary were conducted in a transparent manner.

According to him: “I understand how Ondo State can be govern and everybody will be happy. I understand what we need to revive the economy of this state. I understand how to run the state without relying on federal government allocation. I can prove it to anybody. I understand where there is money in Ondo State.

“I understand how our elderly people can get what they are due for after retirement. I know how to engage the youths.

“I know how to secure the society and I know that the economy activity of Ondo is best in the construction of road to link the riverine areas. If we do that, we will decongest Lagos State.

“What they have in Lagos is a small portion of what we have in Ondo State. We have the longest coastline in the West Africa. We don’t need port Ondo for now. Private investors will come and do build the port if necessary infrastructure were put in place.

“What we need is to construct road to the sea. Agagu started it and the road terminated at Ugbonla. By now that road would have been taken to Ayetoro.

“If that road had been constructed, you will see more development and investors will invade Ondo State. Lagos State will be decongested. Somebody will come and build the Port.

“What is the business’s of Ondo to build seaport?We need the enabling environment for private investors to take over. We will continue to enjoy a safe economy.

“By the time we put all the aspirants together, asked other aspirants their manifesto. I read that they want to establish another university in this state.

“Can we run about five universities? I want us to have a better Ondo State. We are not surprised seeing people drifting from one party to another. We must change the narrative by having a government that knows how to unlock potentials in the state. How do we make use of the natural virgin environment God has given to us.

“We will open our coastal areas in Ondo State. I will construct rail from the riverine to Kogi State to link the federal government rail. We have the money. Government is a continum.

“I will revive all dead factories in the State liker the Oluwa glass factory. The raw materials are still there. We should be able to generate our electricity. I understand what can be done in Ondo to revive the state and make everybody busy.”

Speaking on the planned consensus candidate in the PDP, Ajayi said all the aspirants would have to agree on who pick as the candidate.

“Consensus can work if all the aspirants agree to it. If one said no, then there is no consensus. All of us must agree without a dissenting voice.

“It is when the party starts selling forms you know the real aspirants. Let us wait and see how many persons will obtain the form. I am above 50 and not desperate.

“I do not think the PDP will not promote transparency. They will not compromise. Once I enter and loose out in a transparent manner, I will support who emerged as candidate. If it is not transparent, we will protest.”

The Emir of Kano, Aminu Ado-Bayero, urged essential commodity traders to lower the prices of foodstuffs and goods, facilitating an affordable Ramadan for the masses.

He emphasized this appeal during the launch of the book ‘Dauloli a Kasar Hausa’ in Zaria, urging wealthy Nigerians to assist the less privileged during the holy month.

Ado-Bayero commended the publisher for detailing the Hausa Kingdoms in areas like Kano, Katsina, Zamfara, Kebbi, and Zazzau.

“They offered a clear explanation of the administrative system of governance deployed by each kingdom, their trades, norms and values,” he said.

Man Who Found and Returned Missing N100m Rewarded with Hajj Slot, Cash, and Bus
The book reviewer Ahmed Zaria of the Kaduna State University said the 356-page book has seven chapters.

Mr Zaria said the book provides a clear narrative and history of the Hausa kingdoms, their politics, administration, norms, and values from their inception.

He added that the book is a must-have copy for students and researchers in linguistics and history.

The don, who advised academics not to relent in research activities, lamented that some academics abandon research upon reaching the professorial cadre.

The publisher, Mr Gusau, said the book was an attempt to harmonise the written history of the Hausa Kingdoms, adding that most of the research at the universities was on a few kingdoms and not all.

Mr Gusau added that the book also attempts to support harmony and strengthen unity among the Hausa kingdoms and other Nigerians.

Betty Anyanwu-Akeredolu, the wife of the late Ondo State Governor, Rotimi Akeredolu, has described her late husband’s niece, Funke Akeredolu Aruna, as shameless for supporting the current governor, Lucky Aiyedatiwa, ahead of the November governorship election in the state.

Naija News recalls that Aiyedatiwa, who was formerly Akeredolu’s deputy, was sworn in on December 27, 2023, following the death of his former boss.

Before Akeredolu’s death, internal wrangling had severed his relationship with Aiyedatiwa, bordering on alleged disloyalty of the then deputy governor, which led to the disbandment of his aides.

The State Assembly, through the backing of the governor, also attempted to impeach Aiyedatiwa, even though the details of the duo’s quarrel remained sketchy till Akeredolu’s death.

Taking to her Instagram page on Monday, Betty shared a picture of Akeredolu’s niece wearing a cap with the inscription, “I am lucky.”

Displeased with Funke’s support for Aiyedatiwa, Betty wrote, “Behold the face of Aketi’s niece, Funke Akeredolu Aruna, the former deputy chief protocol to Aketi, shamelessly parades as ‘I am lucky’ Bloody serpent! Time will tell if she is truly lucky!”

This outburst has, however, generated outrage on her comment session as many believe she should be mourning her husband and not engaging in a fight with anyone.

Some followers also appealed to her to maintain her calm on issues relating to the election.

Nollywood actress, Etinosa Idemudia, has slammed Nigerian singer, Harrysong, over his marriage crisis and the treatment meted out to his wife, Alexer.

Naija News reported that Alexer, in a recent interview with media personality, Daddy Freeze, opened up on her husband’s series of cheating and experiences in their marriage.

The singer’s wife claimed that Harrysong had always told her he never loved her but married her out of pity.

She said the cheating of the ‘Reggae Blues’ hitmaker was becoming too much and had undergone countless treatments for infection.

According to her, Harrysong wanted a male child, which always caused friction between them.

Reacting, Etinosa, in a post on Instagram, recalled her past failed marriage, stating that she got married to a monster at the age of 2022.

The movie star stated that men sought younger ladies in their 20s to marry because they believe they could easily bully them.

She further slammed Harrysong over his discrimination for female children, adding that female children are also making exploits while referencing former Nigerian minister, Okonjo Iweala.

She wrote, “This is really sad! Hmmmmmm takes me back to when I was 22 and married a moster. Same hell, different devil. Dear parents, please let’s reduce the pressure to get mmarried at such a tender age. A lot of men run away from 30+ women and marry 20+ old women because they know they can bully them at ease. Parents need to do better in raising their sons.

“Dammm, I really used to have respect for that agbakpan. The past that hurts me the most is when she said he stopped sending money for the children because the woman left. Innocent children that are now collateral damage. Children that never asked you to birth them in the first place.

“Only a fool will discriminate against a female child over a male child. In this 2024? Is Okonjo Iweal a joke to you? Is Etinosa Idemudia a joke to you? Keep sleeping on the girl child you illiterate. On top how many property you get sef wey you dey find male child? Udozuwa Wagbon. Plot twist, dumbo! You can only get a male child when you put it into her womb. He eggs don’t determine geneder, your cells do. But you wouldn’t know that would you? Becaise you say school na scam.”

The Nigerian Communications Commission (NCC), on Monday, explained why some telecommunications subscribers who previously linked their SIM cards to their National Identification Numbers (NINs) have their mobile lines barred.

NCC spokesman, Reuben Muoka, said “people who probably didn’t get a cleared or verified NIN” have been barred because “the earlier ones they submitted was not good”.

Muoka, who was on Channels Television’s The Morning Brief programme, said some SIM cards have verification and identification issues like disparity in information such names and other data.

“There are still some subscribers whose NINs are yet to be verified by NIMC and those have to also be corrected,” he said.

Many subscribers have complained that they had previously linked their NIN with their SIM cards years ago but the NCC official said some lines were barred because the information on the NIN did not tally with what the customers register with their SIM cards.

He said subscribers will have to visit the outlets of their service providers to validate their NINs and resolve other matters.

“For now, it requires those physical visits to the stations to get it verified and validated but in the future, we hope that this will be done virtually,” the NCC spokesman said.

The NCC had last week issued a directive to telecom service providers to bar subscribers who have failed to link their phone numbers to their NIN on or before February 28, 2024.

As of December 2023, Nigeria has over 224 million, according to data by the Nigerian Communications Commission (NCC). MTN boast of over 87 million subscribers, representing 38.79% of the total market share, the highest in the country by any licensed Mobile Network Operator (MNO). Globacom and Airtel have 61 million subscribers each while 9mobile has 13.9 million users.

Millions of lines were barred last week at the expiration of the deadline but the regulator’s spokesman said the NCC has been going through one deadline after the other since 2022 “to give extension for convenience but it is time to get to a closure”.

“Take it that everybody who has not submitted his NIN to the service providers have been barred. Actually, the service providers starting barring people many days to the deadline,” he said.

Muoka, however, said it will be difficult to tell the actually number of phone lines that have been barred but the NCC will do an audit before the end of the week as data are expected from service providers.

He said the NIN-SIM linkage has an objective which is to make Nigerians have digital identity to tackle security matters.

“The whole essence is actually to achieve the convenience that digital services and products will offer. By the time you have your identity together, you will be able to attend to a number of things. Even the banks are now asking their customers to link their NINs to their Bank Verification Numbers (BVNs). It is actually to make a holistic package of all your digital services,” he stated.