The Nigerian naira fell to N1,561 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday.

The rate represents a loss of 1.88 percent from the figure (N1,532) recorded on July 9.

According to data from FMDQ Securities Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, the local currency hit an intra-day trading high of N1,585 and a low of N1,475. 

The current FX figure represents the lowest since March 18 when the naira exchanged at N1,572 to the greenback.

At the parallel section of the market, the local currency traded at N1,550 on Wednesday — depreciating by 0.65 percent from N1,540 on July 9. 

Currency traders, known as bureau de change (BDC) operators, quoted the buying rate at N1,530 and the selling price at N1,550  — leaving a profit margin of N20.

TWO-DAY DEPRECIATION

The local currency has witnessed marginal fluctuations in both the parallel and official markets within the last two days.

At the official market, the local currency depreciated to N1,523 on July 8 — from N1,509/$ on July 5 — and further tumbled to N1,532 on July 9.

It recorded a marginal appreciation to N1,523 per dollar on July 8 at the parallel market — from N1,525 on July 5.

However, the rally was quickly reversed on July 9, with the currency sliding to N1,540.

The two-day depreciation of the naira comes amid a recorded a rise in the external reserves of Nigeria.

The external reserves of one of Africa’s largest economies increased to $35.05 billion on July 8 — the highest since May 30, 2023.

The federal government has officially announced the suspension of duties, tariffs, and taxes on the importation of food commodities.

Abubakar Kyari, minister of agriculture and food security, announced the development in a post on social media on Wednesday, detailing the federal government’s measures to address the high food prices currently affecting the nation.

Part of the measures, according to the statement, is a 150-day duty-free import window for food commodities, which involves the suspension of duties, tariffs, and taxes for the importation of food commodities — maize, husked brown rice, wheat, and cowpeas — through land and sea borders.

The minister said the measures will be implemented over the next 180 days.

“Imported food commodities will be subjected to a Recommended Retail Price (RRP),” Kyari said.

“We understand concerns about the quality of these imports, especially regarding their genetic composition. The government assures that all standards will be maintained to ensure the safety and quality of food items for consumption.

“Over the next 14 days, in close collaboration with the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT), we will convene with respective agencies to finalize the implementation frameworks.

“We will ensure that information is publicly available to facilitate the participation of all relevant stakeholders across the country.”

OTHER INTERVENTION PLANS

Outlining other intervention plans, Kyari said the federal government will import 250,000 metric tons of wheat and 250,000 metric tons of maize, noting that these semi-processed commodities will be supplied to small-scale processors and millers across the country.

The government will engage with relevant stakeholders to set a “GMP and purchase surplus food commodities to restock the National Strategic Food Reserve”.

He said there will also be a production ramp-up for the 2024/2025 farming cycle, which would include continued support to smallholder farmers during the ongoing wet season farming through existing government initiatives; strengthening and accelerating dry season farming nationwide; embarking on aggressive agricultural mechanisation to reduce drudgery, lower production costs, and boost productivity.

“Collaborating with sub-national entities to identify irrigable lands and increase land under cultivation,” he said.

“Working closely with the Federal Ministry of Water Resources and Sanitation to rehabilitate and maintain irrigation facilities under river basin authorities across the federation.

“Developing strategic engagement for youth and women for immediate greenhouse cultivation of horticultural crops such as tomatoes and pepper to increase production volume, stabilize prices, and address food shortages.

“Fast-tracking ongoing engagements with the Nigerian Military to rapidly cultivate arable lands under the Defence Farms Scheme and encouraging other para-military establishments to utilize available arable lands for cultivation.

“Renewed Hope National Livestock Transformation Implementation Committee

“This committee has been inaugurated on Tuesday, July 9, 2024, to develop and implement policies prioritizing livestock development in alignment with the National Livestock Transformation Plan, and a ministry of Livestock Development has been created.

“Enhancement of Nutrition Security, Promoting the production of fortified food commodities, Supporting the scale-up of the Home Garden Initiative by the Office of the First Lady of the Federal Republic of Nigeria.”

Kyari said the success of the measures hinges on the cooperation and collaboration of all relevant ministries, departments, and agencies (MDAs) and other stakeholders.

The minister reiterated President Bola Tinubu’s “unwavering commitment” to achieving food security and “ensuring that no Nigerian goes to bed hungry”.

Kyari said he would work swiftly and diligently with his team to actualise “these crucial policies”, ensuring food security for everyone in the immediate term, “while continuing our strategies for long-term interventions to address underlying causes and ensure sustainable and resilient food systems in Nigeria”.

Peoples Democratic Party (PDP) has suspended its National Vice Chairman, South-South, Mr Dan Orbih for anti-party activity.

The party in a statement by its spokesman, Debo Ologunagba, said Orbih’s activities have been affecting its campaign to retain the state in the governorship election to be held later in the year.

Orbih is a member of the Legacy Group that formed the Edo State Chapter of the PDP and has been at loggerheads with the state governor, Godwin Obaseki for the choice of the party’s candidate for the governorship election.

The PDP had set up a committee headed by Bauchi State Governor, Bala Mohammed to reconcile the various groups in Edo State following the crisis the governorship primary caused.

However, the committee failed to reconcile the groups and decided to suspend Orbih on Wednesday after its National Working Committee (NWC) meeting.

The statement said the party “considered all issues, including complaints on the activities of the National Vice Chairman (South-South) Chief Dan Orbih concerning the September 21, 2024 Governorship election in Edo State.”

The statement further said the “NWC at the meeting unanimously condemned the embarrassing actions and utterances of Chief Dan Orbih relating to the Edo State Governorship Primary Election of our great Party which actions and utterances are inconsistent with the provisions of the Constitution of the PDP (as amended in 2017) and the demand of his office as a national officer of the Party.

“Consequently, the NWC has set up a six-member committee headed by the Deputy National Chairman (South) Amb. Taofeek Arapaja, to investigate the issue pursuant to the provisions of the Constitution of the Party,” the party said.

It announced that the “NWC forthwith suspends Chief Dan Orbih from participating in all meetings, activities and programs of the NWC pending the conclusion of investigation by the Committee.

“The NWC acknowledges the support and solidarity of the overwhelming majority of the people of Edo State who are rallying with our Party and Candidate, Dr Asue Ighodalo, whose vision is in tandem with the Will and aspiration of the people for continued massive development of the State on the platform of the PDP.”

It charged “all leaders, critical stakeholders and teeming members of our Party in Edo State to remain united, focused and continue to work hard for the victory of our Party and Candidate in the September 21, 2024 Governorship election in Edo State.”

Olie Watkins came off the bench to score the winning goal to lead England to a 2-1 win over the Netherlands in the semi final of the 2024 European Championship on Wednesday night.

The Aston Villa forward replaced Harry Kane with ten minutes to go before scoring the winner in the 91st minute to lead England into the final of the competition against Spain on Sunday.

Xavi Simons gave Netherlands the lead in the seventh minute with a thunderous finish against the run of play.

Harry Kane restored parity for England from the spot eleven minutes later after he was fouled in the box.

Both sides continued to probe for the winner to no avail before Palmer and Watkins combined to find the winner.

Southgate took off Harry Kane and Phil Foden for Cole Palmer and Ollie Watkins in the 81st minute in a bid to add fresh legs to the team.

Palmer found Watkins, who finished expertly with a turn of pace to beat Bart Verbruggen in goal, which sent the England players and supporters into wild jubilations.

It was a disappointing end for Ronald Koeman’s Netherlands, who thought the game was heading into extra time, but Watkins had other plans.

England will now take on Spain in the final on Sunday in Berlin.

Watkins was delighted to be the hero after waiting for the moment for weeks.

He said, “I’ve been waiting for that moment for weeks. It’s taken a lot of hard work to get to where I am today. I’m delighted. I swear on my life that I said to Cole Palmer that he’s going to set me up today and I’m going to score. It’s the best feeling ever.

“There’s been a lot of criticism but we’re in the final and that’s all that matters. We’ve got that bounce back factor. Going behind seems to kick us into gear. We’ve won on penalties and come from behind.”

England have now qualified for a second consecutive European Championship final after losing in 2021 to Italy at Wembley.

President Bola Tinubu will meet with the Organised Labour in Abuja on Thursday to further discussions on a new minimum wage for workers in Nigeria.

Channels Television reports that the President invited the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to the meeting expected to be held at the Aso Villa in the nation’s capital city.

According to the report, the President is expected to make a decision on the ₦62,000 proposal of the government and private sector side; as well as the ₦250,000 demand of the Organised Labour.

The Thursday meeting is coming about a month after the President said in his Democracy Day speech on June 12, 2024, that an executive bill on the new national minimum wage for workers would soon be sent to the National Assembly for passage.

Recall that on June 25, the Federal Executive Council (FEC) chaired by the President stepped down from consideration and deliberation on the memo on the new minimum wage to allow for more engagement with stakeholders.

Tinubu and Vice President Kassim Shettima, at the 141st meeting of the National Economic Council (NEC), met with governors of the 36 states of the Federation and ministers to deliberate on a new minimum wage for workers.

Talks for a new minimum wage for Nigerian workers have been on for a while. The Minimum Wage Act of 2019, which made ₦30,000 the minimum wage, expired in April 2024.

The Act should be reviewed every five years to meet with contemporary economic demands of workers.

President Bola Tinubu in January set up a Tripartite Committee to negotiate a new minimum wage for workers. The committee comprises the Organised Labour, representatives of federal and state governments as well as the Organised Private Sector.

However, the committee members failed to reach an agreement on a new realistic minimum wage for workers, forcing labour to declare an indefinite industrial action on Monday, June 3, 2024. Businesses were paralysed as labour shut down airports, hospitals, the national grid, banks, National Assembly, and state assemblies’ complexes.

The labour unions said the current minimum wage of ₦30,000 can no longer cater to the well-being of an average Nigerian worker, saying the government should offer workers something economically realistic in tandem with current inflationary pressures, attendant effects of the twin policies of petrol subsidy removal and unification of the forex windows of the current administration.

Labour “relaxed” its strike on June 4, 2024 following assurances from the President that he was committed to a wage above ₦60,000.

Both the Trade Union Congress (TUC) and Nigeria Labour Congress (NLC) leadership subsequently resumed talks with the representatives of the Federal Government, states, and the Organised Private Sector.

On Friday, June 7, 2024, the two sides (labour and the government) still failed to reach an agreement. While labour dropped again its demand from ₦494,000 to ₦250,000, the government added ₦2,000 to its initial ₦60,000 and offered workers ₦62,000.

Both sides submitted their reports to the President who is expected to make a decision and send an executive bill to the National Assembly to pass a new minimum wage bill to be signed into law by the President.

Abel Damina, the esteemed Senior Pastor of Abel Damina Ministries International and a prominent YouTube cleric known for his profound and contentious perspectives, recently dished out profound explanation of why he adamantly argues that God cannot be boxed into Christianity.

In a recent fiery sermon on his YouTube channel, Pastor Abel Damina shook the foundations of conventional belief. He boldly challenged the notion that only Christians can make heaven, asserted  with unwavering conviction that believers were granted entry into heaven long before the inception of Christianity itself.

Damina provocatively argued that the label “Christianity” was bestowed by non-believers and was not used by biblical figures like Jesus Christ, David, or Abraham. According to him, these revered figures were simply believers or disciples, not “Christians” as we understand today.

His audacious statements sparked a volcanic eruption of reactions among his fervent congregation and beyond.

The explosive excerpt from Pastor Abel Damina’s sermon, where he boldly asserted that God is not a Christian, set the internet on fire with outrage and astonishment.

Critics and believers alike hurled fiery criticisms at the charismatic preacher, accusing him of heresy and challenging the very foundations of orthodox Christian doctrine.

SEE REACTIONS BELOW 

In a scintillating display of spiritual warfare broadcasted live on Facebook, Prophet Jeremiah Fufeyin of Christ Mercyland Deliverance Ministry unleashed a blistering rebuttal against Pastor Abel Damina’s criticisms.

With unbridled passion and unwavering conviction, Prophet Jeremiah took aim at Damina’s outspoken objections, particularly targeting Damina’s disdain for his anointing soap—a product widely revered for its alleged capacity to confer divine favor.

SEE VIDEO BELOW 

…. alleges attempt to make mockery of judicial system

The Chief Justice of Nigeria, CJN, Justice Olukayode Ariwoola, on Wednesday, decried what he termed as unpalatable cocktail of misleading and conflicting judgements emanating from courts of coordinate jurisdictions in the country.

He said the National Judicial Council, NJC, has already activated the process that would ensure that errant judges are made to face the consequence of their “despicable and odious conduct.”

Speaking shortly after he inaugurated 22 judges into the Court of Appeal Bench, the CJN, lamented that the avalanche of frivolous interlocutory orders emanating from the various courts, have continued to make a mockery of the judicial system.

He said: “I have made it known at different fora that we have been treated to an unpalatable cocktail of misleading and conflicting judgments as well as frivolous interlocutory orders emanating from courts of coordinate jurisdictions, which have literally attempted to make a mockery of our judicial system and flagrantly desecrate the revered Temple of Justice.

“Several cases of such abound across the length and breadth of the country. This is, largely, an embarrassment to our jurisprudence, and we will never handle it with levity.

“Punitive measures must definitely be meted out to such erring Judges. We have already activated the process of reining-in such errant Judges with a view to making them face the consequence of their despicable and odious conduct.

“As Judicial Officers, we have to continually remind ourselves the fact that we are not occupying our respective positions to serve ourselves, but the Nigerian masses; and the best way we can serve them is by doing what will make them feel safe in our hands and also trust us to always deliver the right judgments that will not be tainted by sentiments, emotions or other clandestine considerations.”

Justice Ariwoola, who also swore in 12 legal practitioners that were recently appointed as judges of the Federal Capital Territory, FCT, High Court, implored the new judicial officers to always abide by their oath of office.

He described as unprecedented, the number of Justices that were elevated to the bench of the appellate court, noting that the last time such large number of judicial officers were inaugurated, was on June 28, when the court got 18 Justices at the same time.

“Today’s ceremony is an indication of the perilous times that we are currently in, which has resulted in an upsurge in litigation.

“Several unfathomable crimes are being committed in the country, aside from the usual political matters that have made litigation’s to go on alarming rise.

“No court in the land is spared of this  litigation deluge, as it were. We are constantly on our toes and the dockets are ever increasing in response to the challenges of the time.

“This underscores the fact that Nigeria is fast emerging as a front-line crime-infested country that we all have to urgently curtail,” the CJN stated.

He said the enormous task of cleaning the Augean stable rests squarely on the Justices.

“Your Lordships, so, you must hastily fasten your belt and roll up your sleeves to face the challenges head-on.

“In other words, you should hit the ground speeding at a supersonic velocity; and not just running. You must redouble your pace to catch up with the expectations of the sprawling community of litigants.

“As judicial officers, you have a divine mandate on earth that you must discharge with unveiled honesty and sincerity. You must give good account of yourselves to justify your elevation to the Court of Appeal.

“In the next couple of months, we shall be having two governorship elections in Edo and Ondo States, respectively.

“As usual, the courts will be besieged with Plethora of petitions. It is our statutory duty to hear all matters that come before us and adjudicate according to the laws of the land.

“We must not falter; and we must not tread the path of infamy. Yes, it is true that we cannot please everyone through our actions and work, but with the right application of the law and the Constitution of the land, which we all have collectively pledged to uphold, we can go a long way to do those things that our conscience will be very proud of; and the generality of the Nigerian citizens will equally be happy about.

“Every position we attain in life always avails us that unique opportunity to do something novel and impactful, especially if there was any previous act of wrongdoing or misapplication of discretion.

“With Your Lordships’ elevation to the higher Bench today, you have to be very mindful of the enormous confidence the public is now reposing in you vis-a-vis their expectations.

“Like we often say, to whom much is given, much is expected. Your Lordships must not rest on your oars, as the onus now lies more heavily on you to discharge your judicial duties more dispassionately, discretionally, and transparently.

“So, you must, individually and collectively, guide your loins to do more to earn lasting trust and integrity.

“Your conduct and disposition must tally with the yearnings and aspirations of the generality of the citizenry,” the CJN added.

Actress Toyin Abraham has denied she arrested a Twitter user’s mother.

The user had taken to the social media platform to claim the filmmaker arrested his mother illegally.

However, Abraham set the record straight, stating that she only made a report at the cybercrime unit due to threats to her life and family.

According to her, the user’s friend, Ayo was arrested for alleged bullying and defamation.

Abraham emphasised that she did not arrest the user’s mother, contrary to the claims made.

She also clarified that she deleted related tweets after the issue was resolved.

The Twitter user had claimed that his mother was picked up from her shop to Panti police station but Abraham maintained that she did not initiate any arrests.

This development comes amid growing concerns about online bullying and harassment.

The incident has sparked a wider conversation about the boundaries of free speech and the need for responsible social media usage.

An X user Danny wrote: “Hello @toyin_abraham1, you will have to send the police to pick all of us. You are very shameless”.

Replying to him, Toyin stated that he can abuse all and call her names, and it would be okay but where she draws the line is when people curse her kids and lie.

“You can abuse and call me names; it’s fine, and as I said, I will accept and take it cos I’m in the public eyes, but cursing kids and lying is what I won’t accept, and lastly, I never and will never arrest anyone’s mother. I made a report on cybercrime as a citizen. I made my report at cybercrime cos the threat to life and curse and threat on my family were beyond what I can take, as for me, abuse me, insult me please, say anything to me please,” she responded.

The X user, Jeffery further alleged the movie star picked up her mom from her shop.

“It’s one thing to make a tweet, and you arrest me. It’s another thing to arrest me for not even making a single comment, @toyin_abraham1. You picked my mom up from her shop to Panti police station for something I didn’t even do. God will judge you,” he tweeted.

Toyin replied, : “Lying on my head comfortably now, the world won’t see this if I react how, they will say something else. I never arrested your mum. Your friend Ayo was arrested for bullying and cursing and defaming my family, and mum went there saying she won’t leave without him”.

Another tweep, Uchenna, questioned why the movie star deleted some of her tweets to which she replied was no need to beat around the bush.

Mr Macaroni, the Nigerian skit maker, has advised fellow celebrities to seek justice in court whenever they are defamed.

In a post via X, the content creator said it is wrong for notable Nigerians to ask the police to arrest their social media critics.

Macaroni, in the lengthy post, argued that he has been “insulted and defamed by APC supporters” on social media but “never resorted to involving the police”.

The movie star also called on his colleagues to stop using their friends in government to “illegally detain citizens”.

“If anyone insults you or defames your character, go to court and seek justice. APC trolls insult me and tell so many lies against my person,” he wrote.

“I have never for once used the police to illegally arrest or detain anyone and Never will I. There is serious danger in using the police to illegally detain citizens.

“I hope those of you supporting this abuse of power won’t cry foul when you or your loved ones are the victims.

“To be clear, this is not to support online bullying and harassment. I strongly condemn it and believe that those involved should be made to face the consequences of their actions.

“I am a victim myself and I know how mentally damaging it is. But go to Court and seek Justice like the rest of us do.

“Don’t use your friends in government to illegally detain citizens. It may favor you now, but think about tomorrow when you no longer have that power or the closeness to that power.

“It might not be you, it might be someone you care about. What will become of us if everyone takes law into their own hands?”

The post followed after Toyin Abraham, the actress, was accused of ensuring the arrest of an X influencer identified as Big Ayo and his mother over defamatory claims.

Big Ayo was said to have alleged that Abraham received money from President Bola Tinubu to address her husband Kolawole Ajeyemi’s baldness — a claim she vehemently denied.

The award-winning actress, however, clarified that she did not get Ayo’s mother arrested but merely reported a case to the cybercrime unit, not the police.

She added that she can tolerate name-callings, but will not condone lies and insults targeted at her children.

The Nigeria Civil Aviation Authority (NCAA) says it will penalise airlines engaged in deceitful departure schedules.

In a statement on July 9 by the NCAA, Chris Najomo, its acting director-general, warned the airlines to desist from the infraction or face dire regulatory actions.

According to the statement by Michael Achimugu, NCAA’s director, public affairs and consumer protection, the authority now runs a zero-tolerance approach to regulatory infractions.

“Ease of doing business is the crux of the D-G’s action plan for the NCAA. In line with that action plan, he has made processes for licensing easy for operators,” he said.

“The time to secure AOC is now shorter and less cumbersome than it used to be in the past. The NCAA therefore expects reciprocity from airlines. Chief of which is world-class services to passengers.”

Najomo said if the NCAA was facilitating a business-friendly environment for operators, then the operators must satisfy the passengers with superior services.

“It has come to our notice that some airlines are being reported for advertising deceitful departure times. The NCAA regulation says no airline shall display deceitful passenger departure time at its counter, advert material or on its website,” he said.

“We want to make it very clear that the D-GCA has directed monitoring and offenders will face serious regulatory actions.”

He said the authority believes in safety, discipline, and economic regulation which is evident in the recent suspension of 10 permits for non-commercial flights (PHCF) holders for failing to comply with the recertification advisory issued in April.

Speaking further, Najomo said the ease of business is an area NCAA would continue to improve.

“This is evident in our high score on the Presidential Enabling Business Council (PEBEC) ranking. Recently our sister agency scored 96 per cent but the NCAA scored 98.5 per cent which is an extremely high score,” he said.

“This is building from the commendable score of 71.04 per cent the NCAA scored during this year’s ICAO Security Audit.

“The numbers are improving and we will continue to do what we can to make the industry safer, and more secure for passengers and stakeholders.”

On the difficulty in refund processes by airlines, Najomo said all refunds must be handled without undue delay and completed within 14 working days, irrespective of the method of ticket purchase.

Regarding the suspension of PHCF licences of 10 operators, Najomo explained that they had been advised since April to commence the process for recertification but refused to comply — leaving the NCAA with no option but to penalise them.