The Naira is back to appreciation against the dollar at the official foreign exchange market 24 hours after it depreciated.

The Central Bank of Nigeria exchange rate data for Tuesday showed that the Naira strengthened to N1,525 per dollar from N1,538.50 traded on Monday. This represents an N13.5 gain against the dollar compared to the N1538.50 exchanged the previous day.

Meanwhile, the black Naira failed to appreciate as it closed at N1665 per dollar on Tuesday from N1630 traded on Monday.

DAILY POST reports that the Naira weakened for the first time in the FX market on Monday since CBN introduced the Electronic Foreign Exchange Matching System (EFEMS) for transparent FX transactions.

Economists are optimistic that if the Naira can maintain its gain against the dollar in the FX market, this would impact the price of imported goods.

The United States offered a $10 million reward on Tuesday for information leading to the arrest of a Chinese man and co-conspirators wanted for hacking computer firewalls.

Guan Tianfeng, 30, is believed to be living in China’s Sichuan Province, according to the State Department.

An indictment charging Guan with conspiracy to commit computer fraud and conspiracy to commit wire fraud was unsealed on Tuesday.

The Treasury Department said it had imposed sanctions on the company Guan worked for, Sichuan Silence Information Technology Co Ltd.

Guan and co-conspirators at Sichuan Silence allegedly took advantage of a vulnerability in firewalls sold by UK-based cybersecurity company Sophos Ltd, according to the indictment.

“The defendant and his co-conspirators exploited a vulnerability in tens of thousands of network security devices, infecting them with malware designed to steal information from victims around the world,” Deputy Attorney General Lisa Monaco said in a statement.

Some 81,000 firewall devices were simultaneously attacked worldwide in April 2020, the indictment said, with the aim of stealing data, including usernames and passwords, while also attempting to infect the computers with ransomware.

More than 23,000 firewalls were in the United States, of which 36 were protecting “critical infrastructure companies’ systems,” the Treasury said.

“The zero-day vulnerability Guan Tianfeng and his co-conspirators found and exploited affected firewalls owned by businesses across the United States,” FBI agent Herbert Stapleton said.

“If Sophos had not rapidly identified the vulnerability and deployed a comprehensive response, the damage could have been far more severe.”

According to the indictment, Sichuan Silence sold its services and the data it obtained through hacking to Chinese businesses and to government entities, including the Ministry of Public Security.

Chidi Odinkalu, a former chairman of the National Human Rights Commission (NHRC), says the ruling All Progressives Congress (APC), which secured electoral victory through protests in 2015, is now clamping down on demonstrations. 

Odinkalu spoke on Tuesday at an event hosted by Global Rights, a non-governmental organisation (NGO), with the theme “Protest in Nigeria: A democracy that disqualifies dissent.”

The event was held on the X microblogging platform to commemorate International Human Rights Day.

“I’m not quite sure it’s within my pay grade to assess the performance of the Nigerian government on the right to protest. Partly because the right to protest is not given by the government,” Odinkalu said.

 

“It is a right that belongs to the people. What you do under the existing law and really in a republic is liaise with the state, notify the state, so that the state and its assets can lend you its assets for the purpose of protecting the protest, making sure that other people who wish to exercise similar rights can do so peacefully.

“Nigeria is currently led by people who specialised in protests over the years, from the president to several other people within his government.

“They protested their way to an electoral victory in 2015 as a political party, the APC, the All Progressives Congress. That’s for the benefit of the non-Nigerians in this conversation.

 

“And, you know, so to that extent, if you were talking about the past decade, the fact alone that people who were serial protesters came to power by political alternates is itself evidence that the right to protest in Nigeria, at least up to that point, was strong and reasonably well-respected.

“Not without some pushback, but reasonably well-respected and fruitful. Now, that said, it’s also the case that since then, since they came to power, they’ve done a heck of a lot to shut down the right to protest.

“And if you’re looking for physical evidence of that, you’ll find it in the venue in Abuja from which the Bring Back Our Girls protests convened.

“And the Bring Back Our Girls protest, by the way, was part of the infrastructure of protest deployed by the current ruling actors in Nigeria to gain public support in order to win political power in the country at the time they did.

“But after coming to power, they shut down that venue and they shut down those protests.

“And having not done anything to alter the fate of the girls who were lost or stolen or abducted, they then shut down those protests.

“And they have basically fenced off that site of protest and therefore made it unavailable for that.”

The Nigeria Police Force (NPF) says its operatives have seized fake currencies worth N129 billion in Kano state.

In a statement on Tuesday, Muyiwa Adejobi, force spokesperson, said three suspects were arrested in connection with the fake currencies.

Adejobi identified the suspects as Nura Ibrahim, Muhammed Muntari, and Usman Abdullahi.

“Recently, in Kano, the police successfully recovered the sum of N129,542,823,000 in counterfeit currencies, with a breakdown of 3,366,000 in counterfeit US dollars, 51,970 in counterfeit CFA franc, and 1,443,000 in counterfeit naira,” the statement reads.

 

“This momentous achievement was recorded on the 8th of December 2024, at Gwale, Kano state, where police operatives acting on credible intelligence accosted one Nura Ibrahim ‘m’ and, upon a conducted search, discovered N392,000 counterfeit notes, $7800 counterfeit notes, and 5 different ATM cards.

“Further investigation led to the arrest of his accomplices, Muhammed Muntari ‘m’ and Usman Abdullahi ‘m,’ as well as the recovery of the other counterfeit currencies.”

‘THREE SUSPECTED GUNRUNNERS ARRESTED’

 

In a related development, Adejobi said police operatives arrested three suspected gunrunners along the Kaduna-Kano expressway.

The suspects are Buhari Suleiman, Jamil Yakubu, and Aliyu Abdullahi.

“The suspects were apprehended after the police operatives noticed their suspicious activities and approached them to question them,” Adejobi said.

“A subsequent search was conducted, which led to the recovery of 216 rounds of 9mm live ammunition and 1 round of AK-47 ammunition.

“Similarly, on the 8th of December 2024, police operatives in Kebbi state rescued 36 victims of kidnapping along Mairairai/Bena Road in Danko/Wasagu LGA who were returning from their respective farms.

“As a follow-up to the rescue, police operatives have visited the community to engage its members, debrief the rescued victims, and assure the people of its continuous readiness to ensure their safety and security.”

Gov Monday Okpebholo of Edo State has presented the sum of  ₦605 billion before the State House of Assembly as a proposed budget for the 2025 fiscal year.

A statement issued by the Chief Press Secretary to Edo State Governor, Fred Itua, Okpehbolo, while presenting the budget to the hallow chamber on Tuesday, said the Appropriation Bill is a 25 percent increase from the 2024 Budget.

Okpebholo said in the 2025 Budget tagged: ‘Budget of Renewed Hope for a Rising Edo’,  37% of this sum, amounting to N223 billion, will be dedicated to recurrent expenditure, while the remaining N381 billion, which represents 63%, will go into capital projects.

The Governor said the proposed Bill is the product of extensive consultations and will ensure accountability and transparency in governance, ensuring responsive service delivery to the people of Edo State.

He said, “With gratitude to God and a great sense of responsibility, I stand before the Honourable Members in this hallowed chamber to present the 2025 Appropriation Bill, which contains the revenue and expenditure proposals for the 2025 Fiscal Year.

“The proposed Appropriation Bill is a product of wide consultations. It will ensure accountability and transparency in governance for responsive service delivery to the people of Edo state.

“The 2025 Proposed Budget is designed to achieve the goals of my five-point agenda. Which are: Security, Infrastructural, Development, Healthcare, Food sufficiency and Education.

“We have also prepared this budget appropriation with the aim of achieving the Renewed Hope Agenda of the Federal Government. We have condensed the programmes into the State Development Plan, which will remain the basis for my administration in the year 2025.

“Mr. Speaker, the proposed budget size for 2025 fiscal year is N605 billion. This is a 25% increase from the 2024 Budget. 37% of this sum, amounting to N223 billion, will be dedicated to Recurrent expenditure while the remaining N381 billion, which represents 63%, will go into capital projects.”

Governor Okpebholo said his administration’s plan for road infrastructure will make a huge difference in the sector. We have appropriated N162 billion for road development across the state.

“We are aware of the importance of connecting communities with motorable roads for rapid economic growth. Driving from one senatorial district to another, and from one community to another has become very difficult in the recent past.”

Okpebholo also stated that his administration will improve the roads that make Edo State the gateway to other parts of the country and enhance the status of Benin City, the state capital, from an ancient city to a modern one.

He said that, under education, his administration has kept the obligation to revisit the education sector and improve the deplorable condition of schools from primary and secondary to tertiary.

He stated, “It was in this regard that I flagged off the construction of the iconic Ramat Park Fly-over, which will be the first of such in the state.

“We are all living witnesses to the regrettable condition of our tertiary schools in the past eight years. My administration shall be providing N500 million monthly subvention to the Ambrose Ali University, Ekpoma, to ensure its revival from the ashes over time.

“We shall ensure continuous improvement in the administration of other tertiary institutions. The sum of N48bn is provided in the 2025 budget to accomplish this promise.”

On Security and Community Development, Okpebholo said his administration is also powered by the drive to bring peace and harmony to all parts of the State.

The Governor thanked the Speaker and honourable members of the state House of Assembly, noting that the major policy objectives of the 2025 budget were to improve the socio-economic conditions of our people.

He added, “We shall put our energies to ensure hostilities between communities are resolved. My administration has recently purchased 20 patrol vehicles to assist the security personnel in their work and we plan to purchase more in the coming year. The ban on the activities of the Edo State Vigilante has been lifted.

“On healthcare, N63.9 billion has been earmarked for 2025 fiscal year. We are currently reviewing the Health Sector Initiatives, to ensure that health is accessible and affordable. With the commitment to increase access to quality healthcare, N1.8 billion has been set aside for the Health Insurance.

“Agriculture plays a pivotal role in food production as well as revenue generation and job creation. It is, therefore, the desire of this administration to strengthen the agricultural sector, particularly in the areas of farm mechanization. We shall take special attention to the security of our farmers and ensure our farmlands are safe.

“Accordingly, the sum of N 4.5 billion has been proposed in the Year 2025 budget estimates for the agricultural sub-sector.

“Let me once again renew my deep appreciation to this Honourable house for the cooperation and support extended to this administration since inception.”

Kehinde Ogunwumiju, managing partner of Afe Babalola & Co., is suing Dele Farotimi for alleged false and defamatory statements in his book ‘Nigeria and its Criminal Justice System’.

In the suit filed on December 6, the senior advocate of Nigeria (SAN) asked the court to stop the publication and sale of the book at all physical and online bookstores.

The claimant is also asking for N500 million in damages.

“An order of interlocutory injunction restraining the defendant/respondent, whether acting by himself, his staff, employees, servants, privies, representatives, agents, publishers, distributors, sellers, re-publishers, re-sellers, or any other person howsoever described including Amazon Online Bookstore, Rovingheights Bookstore, Booksellers Bookstore, Jazzhole Lagos Bookstore, Glendora Bookshop, Quintessence Lagos Bookstore and Patabah Books Limited from further publishing, selling, circulating, advertising, or distributing the physical/hard/digital/soft copies of the book authored by the Defendant/Respondent titled: ‘Nigeria and Its Criminal Justice System’, online, electronically, physically or by any other means including social media, pending the hearing and determination of the substantive suit,” the suit reads. 

Ogunwumiju also asked the court for an order for the seizure of the copies of the book wherever they may be found, adding that Farotimi should also apologise in two national newspapers.

“An order of interlocutory injunction directing the seizure of all physical copies of the book authored by the Defendant/Respondent titled: ‘Nigeria and Its Criminal Justice System’, wherever they may be found including at Rovingheights Bookstore, Booksellers Bookstore, Jazzhole Lagos Bookstore, Glendora Bookshop, Quintessence Lagos Bookstore and Patabah Books Limited worldwide by the Nigerian Police Force, State Security Service, and Nigeria Security,” he added. 

Last Tuesday, Farotimi was arrested by the Ekiti police command over alleged defamation and cyberbullying.

The activist was accused of spreading false information against Babalola. Subsequently, the inspector-general of police filed a 12-count charge bordering on cybercrime against Farotimi.

On Monday, Farotimi was granted bail on the cybercrime charges. On Tuesday, Farotimi returned to the magistrate court in Ekiti for arraignment over alleged defamation.

President Bola Tinubu has appointed a new Accountant-General of the Federation in the person of Mr Shamseldeen Babatunde Ogunjimi.

The appointee, who assumes the position in acting capacity, is a certified fraud examiner.

Ogunjimi’s appointment was announced by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

According to Onanuga, Ogunjimi’s appointment is effective immediately following the pre-retirement leave of the incumbent AGF, Dr. (Mrs.) Oluwatoyin Sakirat Madein.

Madein’s retirement is effective March 7, 2025, after reaching the civil service’s statutory retirement age.

Quoting Onanuga, “In announcing Madein’s successor, President Tinubu ensures a seamless transition in the administration of Nigeria’s treasury and consolidates the implementation of the present administration’s treasury policy reforms.

“As a career civil servant and the most senior director in the Office of the Accountant General of the Federation (OAGF), Mr Ogunjimi brings over 30 years of extensive experience in financial management across the public and private sectors.

“He has held significant positions, including Director of Funds at the OAGF and Director of Finance and Accounts at the Ministry of Foreign Affairs.

“A chartered accountant, certified fraud examiner, chartered stockbroker, and chartered security and investment specialist, Mr Ogunjimi’s academic qualifications include a Bachelor of Science (BSc) in Accountancy and a Master’s in Finance and Accounting.”

Onanuga further quoted Tinubu as saying, “The Office of the Accountant General of the Federation is pivotal to our nation’s treasury management operations. Mr Ogunjimi’s wealth of experience and notable competence will ensure the continued effectiveness of this vital institution as we advance our economic reform agenda.”

He said President Tinubu commended the outgoing Accountant General of the Federation, Dr. Madein, for her dedication and selfless service to the nation.

President Bola Tinubu on Tuesday, commissioned the Bola Ahmed Tinubu Innovative Complex, Data and Command Centre (BATTIC) at the headquarters of the Nigerian Immigration Service (NIS) located in Sauka, Abuja.

During the commissioning, President Tinubu stated that the commissioning is a dream come true and a further confirmation that the country is making progress under his leadership.

He also emphasized the need for Nigeria to embrace technology, innovation and a knowledge base economy as a pace-setter on the African continent.

It is understood that the project had been in the pipeline for about eighteen years before it was completed by the current administration.

“…This is the fulfillment of a dream. From the beginning of our administration we promised to deliver. Nigeria is making tremendous progress…” Tinubu said during the commisoning.

Naija News understands that the NIS Digital Hub signals Nigeria’s digital compliance with the Advanced Passenger Information System (APIS), as stipulated by the International Civil Aviation Organization (ICAO), providing a new, modern and technology compliant system.

According to presidential media aide, Sunday Dare, the system protects Nigeria’s borders and enhances national security.

The newly-commissioned system has an 8.3 gigabyte system and six components. The modern facility functions to detect suspicious travel patterns, pick out persons of interest, biometrics, and real-time 24-hour surveillance, amongst others.

The development makes Nigeria’s passport a security document with full compliance with international standards.

Search engine, Google has unveiled the ‘2024 Year in Search’ for Nigeria.

Crossdresser, Bobrisky, Former Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, Singer, Shallipopi and Ogechi lyrics topped the trends search.

Mr Taiwo Kola-Ogunlade, Communications and Public Affairs Manager, Google West Africa, said in a statement that the 2024 Year in Search showed what Nigerians were really interested in.
 
The Google’s Year in Search is an annual analysis that reveals the top trending lists and also what the world searches to see, learn, and do.

“The trending personality search in 2024 was led by Bobrisky, followed by Beta Edu; global search was Donald Trump, while search on death included Junior Pope, Herbert Wigwe, among other searches.” he said

‘’This year, Nigerians continued to demonstrate a strong interest in entertainment with movies like “A Tribe Called Judah,” “Treasure In The Sky,” and “Damsel,” topping the movie charts.

‘’The top television series that captured the interest of Nigerian netizens included “Supacell,” “My Demon,” and “Queen of Tears.”.

“In the culinary world, Nigerians explored diverse recipes, with the ‘Pornstar Martini recipe” leading the searches.

‘’In Nigeria, this year’s results show a continued interest in the political and economic landscape, with searches related to the U.S. elections, the new national anthem, and the national grid topping the news category in this order,’’ he added

A Federal Capital Territory High Court sitting in Maitama on Tuesday ordered the remand of the immediate past Governor of Kogi State, Alhaji Yahaya Bello, in Kuje Prison pending his trial on allegations of ₦110 billion fraud.

Justice Maryann Anenih issued the remand order after adjourning the trial till February 25, 2025.

Bello, who governed Kogi State from 2016 to 2024, is facing a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC).

He is accused alongside two former state officials, Oricha and Abdulsalami Hudu, who are listed as co-defendants in the case.

The court also dismissed an application filed by Bello’s legal team, led by former Nigerian Bar Association (NBA) President Joseph Daudu, SAN, seeking bail for the ex-governor.

Justice Anenih ruled that the bail application was prematurely filed on November 22, three days before Bello voluntarily surrendered to the EFCC on November 25.

“A bail application is filed to challenge the detention of a defendant. Filing it before being in custody undermines the application’s validity,” the judge remarked.

She further noted, “Consequently, the instant application, having been filed prematurely, is hereby refused.”

However, the court admitted the second and third defendants to bail in the sum of ₦300 million each, with two sureties in like sum. The court also seized their travel documents as part of the bail conditions.

The EFCC, represented by lead counsel Kemi Pinheiro, SAN, argued against granting Bello bail, stating that the former governor had repeatedly evaded trial.

“Several efforts to secure the presence of the 1st defendant in court for another charge pending before the Federal High Court, Abuja, proved abortive,” the EFCC said.

The agency described Bello’s bail application as an attempt to manipulate the legal process, noting that it was filed days before his formal arraignment.

The EFCC accused Bello and his co-defendants of conspiracy, criminal breach of trust, and possession of unlawfully obtained property.

Bello, through his legal team, maintained his innocence, arguing that he is entitled to the presumption of innocence under the law.

“Our client is innocent of all allegations and requires bail to effectively prepare his defence,” Daudu said. He dismissed claims by the EFCC that Bello had evaded trial, asserting that his client voluntarily surrendered to the anti-graft agency.

The high-profile case has drawn widespread attention, with many Nigerians expressing mixed reactions. While some lauded the EFCC’s commitment to holding public officials accountable, others questioned the protracted nature of high-profile corruption trials.

The case, marked CR/7781, underscores Nigeria’s ongoing battle against corruption and the judicial system’s role in ensuring accountability among public officials.

EFCC alleged that the former governor misused state funds to acquire properties, including No. 35 Danube Street, Maitama District, Abuja (N950 million), No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million), and No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million).

Other properties the defendants allegedly acquired with funds stolen from the Kogi state treasury included Block D Manzini Street, Wuse Zone 4, Abuja (N170 million); Hotel Apartment Community: Burj Khalifa, Dubai (Five Million, Six Hundred and Ninety-Eight Thousand, Eight Hundred and Eighty-Eight Dirhams); Block 18, Gwelo Street, Wuse Zone 4, Abuja (N60 million); and No. 9 Benghazi Street, Wuse Zone 4, Abuja (N310.4 million).

Likewise, the defendants were accused of transferring $570,330 and $556,265 to TD Bank, USA, and possessing unlawfully obtained property, including N677.8 million from Bespoque Business Solution Limited.