Nigeria’s foreign reserves have witnessed a net inflow of about $2.35 billion in the first seven months of this year. The minister of Finance and coordinating minister of the Economy, Wale Edun, disclosed this at the Corporate Customers Forum in Lagos on Thursday, September 19, 2024....Read More

Edun acknowledged that the increase has played an essential role in stabilising the local currency, the naira, in the FX market. According to the minister, Nigeria has also seen foreign exchange liquidity, with the gross reserves rising.

He attributed the growth to the government’s efforts, adding that the government’s revenues are also growing.
Punch reports that the minister said that Nigeria is seeing the gradual elimination of multiple exchange rates.

A previous report by Legit.ng disclosed that Nigeria’s firepower against naira depreciation, the foreign exchange reserves, increased by $621.2 million in 10 days following the successful sale of a government-issued domestic dollar bond.

The country’s gross FX reserves rose from $36.24 billion on September 2, 2024, to $36.87 billion by September 12, 2024.

The information is from the Central Bank of Nigeria (CBN).

According to the apex bank, the growth reflects the positive impact of the domestic dollar bond, which the Nigerian government said was oversubscribed by $400 million.

Reports say that on September 2, 2024, Nigeria’s external reserves stood at $36.24 billion but grew in the next 10 days to $36.87 billion as of September 12, 2024.

This development follows the massive recovery of the naira against the US dollar on Wednesday, September 18, 2024.

The Nigerian naira has appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX).

According to FMDQ Securities data, after trading on Wednesday, September 18, the naira closed at N1,539.65/$1 in the official market.

Wednesday’s exchange rate is a massive improvement of 7.1% or N116.84 for the naira compared with the previous day’s exchange rate of N1,656.49/$1.

The recovery on Wednesday was due to an improvement in the supply of foreign exchange to the spot market, which contributed to the growth of the local currency.

Legit.ng observed a 38.9% increase in forex transactions, with $139.48 million recorded on Wednesday, up from $100.39 million the previous day.

Legit.ng earlier reported that the Nigerian naira lost N100 against the US dollar in the official market amid slowing inflation, marking the second month inflation will ease.

Information from the Nigerian Autonomous Foreign Exchange Market (NAFEM) shows that the naira sold at N1,656 per dollar on Tuesday, September 17, 2024, higher than the N1,546 it traded on Monday, September 16, 2024.

FMDQ Exchange data shows that the currency dealers quoted the naira at a high of N1,665 and a low of N1,565 per dollar. ...Read More

Umar Farouk Bahago, the Emir of Minna, Niger State, says many Nigerians are not aware President Bola Ahmed Tinubu, is recovering funds stolen under past administrations.....Read More

The Monarch stated this during citizens’ sensitisation on the Federal Government intervention programmes at the state and local government levels, which held in Minna.

The sensitisation was organised by the Office of the Minister of Information and National Orientation and National Orientation Agency.

Represented by the Hadinin Minna, Maikudi Achaza, the Emir lauded Tinubu for doing his best to salvage Nigeria from corruption of the past leaders.

He said the intervention by the Tinubu led administration was not known to the majority of citizens because the government spokespersons were not doing enough to speak to people in local languages.

“A lot of funds were stolen by the past administrations that the current administration is trying to recover. But many people are not enlightened on this.

“Also, Since the fuel subsidy removal, a lot has been done to cushion the effect on the citizens. Government should speak to people on its policies and programmes using local languages for effectiveness,” he said. ...Read More

Frontline leaders representing over 60 youthful organisations on Thursday promised the office of the Presidential Amnesty Programme that their members would steer clear of the October 1 nationwide protest....Read More

The groups alleged that the demonstration being planned by some agitated youths and civil society movements was targeted at embarrassing the administration of President Bola Tinubu……Read Full Article

The delegation led by the President of Nigeria Youth Organization, Duke Alamboye, gave the assurance during a courtesy visit to the Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro, in Abuja.

This was contained in a press release issued by the Special Assistant on Media to the PAP Administrator, Mr Igoniko Oduma, on Thursday.

Alamboye promised to work together with a network of other groups to ensure that Nigerians were not misled into taking part in any ill-advised protest against the current government.

He also encouraged youths to embrace constructive dialogue and explore available channels of engagement with the government to express their views instead of disrupting the peace and stability of the nation.

The group said, “Concerning the state of the nation, we are not unaware of the agitation from certain quarters calling for a nationwide protest on October 1, 2024. It is a protest against President Bola Ahmed Tinubu’s government.

“As youth leaders and lovers of peace and national advancement, the Nigeria Youth Organization would like to inform you of our plan and intention to hold a world press conference on September 23 geared toward sensitising the average Nigerian youth on the need to shun the planned protest.

“We want people to seek dialogue as a better reconciliation tool for venting their grievances. We also hope to organise a summit on October 1 as a follow-up to the world press conference. We anticipate that all well-meaning stakeholders will play vital roles in charting a better cause for our youths.”

Representatives of the youth bodies include the National Youth Congress, Arewa Youth Council, Yoruba Youth Council, Ohaneze Youth Council, South-South Advocate, Niger Delta Coalition, the Nigeria Nexus and Youth Parliament of Nigeria.

Others were the Green Africa Youth Initiative, Youth Foundation for Non-Violence in Nigeria, Niger Delta Youth Parliament, National Association of Nigerian Students and Youth Empowerment for Peace and Security, among others.

Reacting, the PAP administrator praised the youth leaders for dissociating themselves from any planned protest, noting that Tinubu is a youth-friendly leader who had appointed several young Nigerians to serve in different capacities in his government.

Otuaro urged them not to allow themselves to be manipulated into unpatriotic activities in the name of protest, as the President needs more time for his people-oriented reforms, policies, and programmes to manifest.

He said, “Mr President means well for the country. It is reassuring to know that Nigerian youths are with the President, who has been in office for a little over a year. As youths, we should organise ourselves and present our grievances and concerns through constructive dialogues.

“Nobody should manipulate you to achieve their ulterior goals. Most of those championing the so-called protest are only seeking attention and they thrive under the guise of anti-government protests to get attention. Youths should be watchful.”

President Bola Tinubu is the most demonised Nigerian politician even though he has a good heart, says Vice-President Kashim Shettima. He reiterated his call on Nigerians to trust Mr Tinubu. According to him, the president is not a corrupt politician....Read More

“Tinubu is not in power to engage in primitive capital accumulation, nor is he in power to leave landmarks in the sands of time. I’m not playing politics. I’m speaking from the heart. I have seen the soul of Bola Tinubu, and he has a good soul. He is the.. ...Read More

In a recent interview with Channels Television, Lawyer, Jesutega Onokpasa alleged that Peter Obi is sponsoring the planned protests and has failed to condemn a threatening tweet from one of his prominent supporters, Gbadamosi....Read More

Gbadamosi, tweeted that supporters of the APC and Bola Tinubu should be identified, including their homes and family members, implying that this information would be useful during the protests. Onokpasa criticized Obi for not denouncing this tweet, suggesting that his silence implies complicity.
He emphasized that Obi’s failure to condemn Gbadamosi’s threatening message raises concerns about the true intentions behind the protests. Onokpasa reiterated that the government has evidence linking Obi to the sponsorship of the protests, further fueling tensions between the opposition and the ruling party.

In his words;

“One ofGbadamosi who is squatting in a flat in London tweets saying identify APC supporters, identify Bola Tinubu supporters, know their houses, identify their family members, that the information will be useful at the time of the protest and Peter Obi had not called him out. Of course, he’s the one sponsoring the protest, there’s no doubt about that”…. ...Read More

Minister of Works, Dave Umahi, has questioned the motive behind the planned protest scheduled for August 1....Read More

According to the report by The Sun Newspaper on Saturday, Umahi asked what the protesters are agitating for, and added that if Bola Ahmed Tinubu

did not become President, Nigeria would have become a failed country by now.

He said that when people say there is hunger in the country, they should be able to mention what the solution to hunger is. He said that they should not only be talking, but they should be able to proffer solutions to the problem.

He said, “What are they protesting about? Without the coming of President Tinubu, we would have had a failed country. Talk is cheap and a job is very easy when you are not the one doing it. When people say there is hunger, tell us the solution to the hunger. It is not just to be talking and talking.”

He said that the government cannot do everything for people, and urged the masses to improve their productivity. He said that no matter the amount of money the government gives to the citizens as palliative, if the people do not change their productivity level, there would be no results.

He added, “This is my position. When people say they want to protest, it is just being mischievous because tell us what is being done that is not right and proffer solution.”

Speaking further, the former Ebonyi State governor said that constructive criticism is what moves democracy forward, and not malicious and inciting criticism, which he said will not lead the country anywhere

Labour Party Presidential Candidate, Peter Obi recently spoke to the men of the press and he opened up about a lot of things. While speaking, Peter Obi revealed that oil in Nigeria is stolen by people in government. He further stressed that stealing oil is not an easy thing to do and that it can only be done officially....Read More

“In his Words”

“Oil in Nigeria is being stolen by people in government, nobody can steal oil just like that, you can go into a grocery shop, steal something, put it in your pocket and go away on your back, you can’t steal oil like that. For you to steal oil, a ship has to come into your territorial waters and load your oil and no ship can go into a nation’s territorial waters without the approval of it’s navy.

And you load it, for you to leave, you have to have approval and everybody knows where every ship is on the surface of the earth, it’s something that is recorded”.

“So, if somebody is able to take away oil, there’s a high level connivance between external and internal people who have organized for the oil to leave and you can even trace the oil to where it is offloaded, so it’s not an easy thing to steal, it can only be done officially”, Peter Obi said.
Voice of the East shared the video

on their official instagram page today being Saturday the 27th day of July, 2024 and it stirred massive reactions from the general public

According to Punch, President Bola Tinubu received former Senate President Pius Anyim, who recently defected from the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC)....Read More

Anyim was accompanied to the State House, Abuja, by the Chairman of the Progressives Governors’ Forum, Governor Hope Uzodimma of Imo State, and Governor Francis Nwifuru of Ebonyi State.

A nyim, a PDP presidential aspirant in the 2023 elections, stated that he joined the APC to collaborate with the government during what he described as “turbulent times.” He emphasized that all patriots have a duty to ensure the country continues to have a peaceful atmosphere.
When asked about his departure from the PDP, Anyim responded, “Can you look back at the history of the PDP and tell me how many leaders the PDP has produced that had joined the APC or another party at any particular point in time? It’s common.”

He added, “But importantly, I am determined to be sure that the country moves on the right path and I should be available to contribute my quota.”

Addressing whether he could have contributed from the opposition party, the former Senate President noted, “ Contributing quota does not necessarily mean to work, but to engender a conducive atmosphere for progress. I’m not looking for work, but there is a need that given the challenges the country is facing today, we all need to put all hands on deck to make the country move forward. ...Read More

Udenta said the pro-wike lawyers committed political suicides when they defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC)....Read More

He urged the lawyers to stop playing politics with the development of Rivers state by plotting against Governor Sim Fubara’s government

“The latest show of shame by these imposters, pretending to be lawmakers was their unlawful call for the Police to arrest the duly constituted Caretaker Committee Chairmen and members in Rivers State. The world knows that after the expiration of the tenure of the LGA Chairmen, Governor Siminalayi Fubara’s administration constituted Caretaker Committees to manage the affairs of the local governments pending the next election as any responsible government would have done.

“But in their usual nature of witch-hunting any progress made by the Fubara’s administration, the disgruntled former lawmakers are now shamelessly calling on the Nigeria Police to arrest the members of the duly constituted Caretaker Committees. Their call is tantamount to calling for anarchy.

The Amaewhule-led Rivers Assembly had moved to stop Fubara from spending the state’s funds.

However, a court rejected the suit sponsored by Wike lawmakers and refused to halt all expenditures by Governor Fubara. ...Read More