Elite Info

We have just had what looks like the best week for Nigeria’s foreign exchange (forex) market, just on the heels of its worst week (last week). After tumbling to an all time low of N520/USD1, Naira began to appreciate early last week following a swift roll-out and execution of counter-speculation measures by the Central Bank of Nigeria, CBN. The good news is not really about the appreciation of the local currency. It is all about the policy response to one of the most vicious ‘currency war’ going on in Nigeria today. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele Like most issues in Nigeria, the standard concept of currency crisis does not apply here. A currency crisis depicts a state of low or absence of confidence in a local currency to earn and sustain exchange rate stability. On the surface, this appeared to be the situation in Nigeria. But on a deeper insight into the nature of demand and speculative positions taken against the Naira in the past 20 months, it ...

Big Brother Naija fake housemates, Ese Eriata and Jon Ogah have been evicted from the game. Ese and Jon were sent into the house two weeks ago just for the purpose of causing drama and were not competing for the N25million prize. You will recall that  last Monday, Big brother nullified all the housemates nominations which kept all of them in suspense after several housemates were found to be conspiring with each other, eg Ese and Jon then Kemen and Marvis. There was also a twist to the game this evening as all the housemates except Bally and Bisola have been up for automatic eviction which means the eviction show which usually takes place on Monday night has been cancelled. The Head of House(HOH)task will take place at that time instead and the winner of the task is automatically immune from eviction for the week. Bisola and Bally who have immunities are on vacation for some days.

It would take a live video call to Nigerians from President Muhammadu Buhari to put to rest the controversies his health status has generated. The Leader of the House of Representatives, Femi Gbajabiamila said this in Abuja while responding to questions from the media on the President’s extended medical vacation in London. Gbajabiamila said that if he were in President Buhari’s shoes, he would do a video call to speak to Nigerians. He also said he would advise him to do so, if he were in a position to advise him. According to him, it was better to address the nation one time as against speaking to individuals and small groups of people, in different instances, from London. He, however, said the fact that Buhari has not addressed the nation collectively through a video-conference call does not mean he has committed an illegality, but described it as a different approach to quelling the controversies surrounding his medical trip to London. The House Majority Leader said: “...

All Progressives Congress, APC, leader, Asiwaju Bola Ahmed Tinubu, has said that he could contest for a political office in the near future including the Presidency whenever the right opportunity presents itself. Tinubu spoke on the sidelines of last weekend’s swearing-in of Ondo State Governor, Rotimi Akeredolu, in Akure, even as he chastised public criticisms of the management of the health condition of President Muhammadu Buhari. Asiwaju Bola Ahmed Tinubu He urged Nigerians to put aside disbelief and pray for the continued good health of the president.  Tinubu, who witnessed the inauguration of his onetime protégé, who he ironically fell out with last year, also dismissed insinuations of squabbling in the leadership of the APC.  Asked by reporters at the inauguration ground the possibility of seeking political office, including the Presidency, he said: “You see, there is nothing wrong with such ambition. It depends on the timing and the environment and wha...

ENUGU—President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo, weekend, said the Igbo are in grave danger in Nigeria, calling for prayers to change the situation, and urged other ethnic nationalities to understand the peculiar circumstances of Ndigbo. Nwodo spoke at a church service and civic reception in his honour by the Knights of St. John at St. Mulumba Catholic Church, New Haven, Enugu. Nnia Nwodo He said: “I dedicate myself completely to all the supplication as offered in the Mass. I ask Ndigbo wherever they are to pray collectively for all of us. We are in dire straight, we are in very grave situation. I also ask that we pray for other Nigerians to understand our peculiar circumstances, understand our case and give us once more a hand of fellowship in a united Nigeria.” President of Commnadery Services for New Haven and Chairman, organizing committee for the reception, Col. Gilbert Obu, said Nwodo was a member of the commandery, hence they decided to give him honour. Ob...

Jos—Residents of Jos, Plateau State capital, yesterday, stormed the Jos Electricity Distribution Company, JEDC, over high electricity tariff, fake metres and other perceived “gross injustices” meted on consumers in the state.  The residents, comprising of Civil Society Organisations, CSOs, and communities’ leaders in the city, defied the cold weather and gathered at the Rwang Pam Street office of the company, carrying placards and calling on the management to reverse the exploitative decisions against electricity consumers or be faced with daily protests until their plights were addressed.  Speaking at the venue amidst a heavy presence of security agents, a member of a civil society organisation, Mr. Steve Aluko, said the protest was to call the attention of relevant authorities to indiscriminate billing and provision of uncalibrated metres, which read leakages leading to exorbitant billing of customers.  He said: “It is gross injustice for residents of Plateau Stat...

LAGOS—Many were speechless and others moved to tears, weekend, when they were conducted round a warehouse in Satellite Town, Lagos, that was filled with sub-standard tyres imported into the country by some Chinese nationals. The tyres, described by Standard Organisation of Nigeria, SON, as the largest seizure of substandard tyres in one swoop in the history of Nigeria, is about two million and worth over N5 billion. Director-General and Chief Executive, of SON, Osita Aboloma, who conducted journalists round the warehouse, described the tyres as dead on arrival, adding that allowing them to enter the market amounted to surreptitiously taking away the lives of millions of Nigerians. Sea of tyres outside the warehouse. PHOTOS: nduss.blogspot.com The two Chinese nationals, Taolung Shen and Xu Jing Yau, arrested in connection with the fake tyres, are now telling the police all they know about the issue.  The two were paraded before newsmen, following their arrest, and th...

Former Benue State Governor, Gabriel Suswam, has been invited by the Department of State Services, DSS. Former Benue State Governor, Gabriel Suswam, has been invited by the Department of State Services, DSS, to clear the air on arms and ammunition seized from exotic cars in a luxury apartment in Abuja said to belong to him. The DSS confirmed, last night, that the former governor was already helping them in investigation into the shocking discovery made by its officials, following intelligence report  that some dangerous items were stashed in the boots of cars parked in the premises of the property.  The security agency in a statement made available to Vanguard by its Spokesman, Tony Opuiyo, explained that the arms and ammunition were stacked in two expensive vehicles-a Mercedes Benz S550 (BWR 135AH), and Masarati 4.7(BWR 207 AJ), which its agents subsequently confiscated. Searched in the presence of two private security agents attached to the property, some startlin...

The National Youths Service Corps (NYSC) says it will partner with the Central Bank of Nigeria (CBN) and other commercial banks to provide soft loans to corps members across the country. The Sokoto State Coordinator of the scheme, Alhaji Musa Abubakar, disclosed this on Saturday at the permanent orientation camp in Wamakko, headquarters of Wamakko Local Government. Abubakar spoke during the NYSC cultural carnival and exhibition of wares produced by the corps members under the 2016, batch”B” stream. He said that the other collaborating banks are the Bank of Industry, Bank of Agriculture and Heritage Bank. Abubakar said that the corps members had gone through two weeks training on various skills, saying the training would continue throughout their service year. *NYSC members ”They have been trained on various skills like ICT, film making, photography, fashion design, tie and dye, cosmetology, brick making, interlocking and food processing, as well as preservation among others. ...

LAGOS— The Central Bank of Nigeria, CBN, yesterday, reintroduced charges on cash deposits in banks, which would take effect at different dates in different parts of the country. Director, Banking and Payments Systems Department, Mr. Dipo Fatokun, announced this in a circular entitled: “Circular on nationwide implementation of the cashless policy.”                   CBN reintroduces cashless charges on bank deposits The circular stated: “Charges for cash deposit by individuals are as follows: Less than N500,000, zero charge; from N500,000 to N1 million, 1.5 per cent; from N1 million to N5 million, two per cent charge; above N5 million, 3 per cent charge. “Charges for cash withdrawal by individuals are as follows: Less than N500,000, zero charge; From N500,000 to N1 million, two per cent; from N1 million to N5 million, 3 per cent charge; above N5 million, 7.5 per cent charge. “Charges for corporate cash deposit are as follow: Less th...

                  Senator Shehu Sani has linked the abject poverty in the North to the wealthy politicians in the Northern part of the country. The Kaduna Central Senatorial District representative in the Senate said the North is believed to be the poorest region in the country despite the number of wealthy people from the area. Sani added that the poor “toiled and worked for us, and laboured hard to see us elected into public offices,” yet no gains. He noted that the poor and physically-challenged people were usually neglected after elections. “It has always been the same pattern; each time we are aspiring for political offices, we search for them in the nook and crannies but at the very time we have won the election, the best thing is how to clear them from our cities. “You cannot end (street) begging in any part of Nigeria without making provisions for uplifting their socio-economic and living standards. It has always been the ...

DESPITE the crisis rocking   his marriage, Tonto Dikeh’s estranged hubby, Olakunle Churchill, shocked many critics, Tuesday, when he unveiled popular singer, Praiz Adejo, as one of his foundation, Big Church Foundation, ambassadors for the 2017 project year.The signing of the deal was done at the Ikoyi, Lagos boardroom of the foundation. At the unveiling board conference was the current Ambassador for Women and Child, actress Rosaline Meurer, who has been at the centre of Tonto Dikeh’s marital mess, the Foundation Executive Manager of Abuja branch, Tomiwa Yebo, Foundation coordinator/ PR, Mr. Raphael Cudjoe, Head of IT, Clay-Multi Media Department, Maureen Cyril of GoodGirl Foundation, Ivy Cypriel of Crown and Glamour TV among  others.                   Dr. Olakunle Churchill, Rosaline Meurer, Tomiwa and Praiz at the event Speaking at the event, Dr. Olakunle Churchill said, they needed a new Ambassador for the Big Chu...

     The English Premier League defending Champions, Leicester Cuty have sacked manager Claudio Ranieri just nine months after leading the foxes to win the coveted EPL trophy. The Italian’s position has come under increasing scrutiny this season with Leicester unable to hit the standards they hit in last season’s remarkable Premier League title triump. Leciester City have lost seven of their last nine matches including Wednesday’s Champions League last-16 first leg against Sevilla, while a return of just five wins in 25 league matches has left them one point above the relegation zone.

Abuja – The newly introduced foreign exchange policy by the Central Bank of Nigeria (CBN) will help shore up the naira, an official of the bank has said. Mr Emmanuel Ukeje, the Special Adviser to the CBN Governor on Financial Markets, said this in an interview in Abuja on Thursday. Ukeje described as baseless the argument by sceptics that the newly introduced foreign exchange policy would further weaken the naira. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele  “The whole essence of the new policy is to infuse dollar liquidity into the system and to ensure easy accessibility of end users. “In the past we have had clamours that people were not able to pay their school fees, people were not able to buy BTA and that is why they had to go to the black market or parallel market. “Now that the CBN have come up with a policy that has returned this into the confines of the inter-bank market and that of the bank, we believe strongly that this will take the demand off the ...

In apparent retaliation against the attacks on Nigerians living in South Africa, protesters vandalised the head office of South African mobile phone giant MTN in Abuja on Thursday. The attack came after a Nigerian youth body threatened to shut down South African businesses after shops believed to be owned by immigrants in the capital Pretoria were looted. Nigeria and South Africa, the continent’s two largest economies and pre-eminent diplomatic and military powers, have a volatile relationship. Protesters stormed the regional head office of MTN – the biggest South African company active in Nigeria – and stole customers’ phones, vandalised equipment and attacked customers, a spokesman for MTN said. A Reuters reporter arriving at the scene after the storming could see no obvious damage at the building in the centre of Nigeria’s capital Abuja. Security officers had cordoned off the entrance. “They forcefully entered the MTN office. Security men were around but unable to curta...

Mogadishu - Somalia's president Mohamed Abdullahi Mohamed has appointed a political newcomer as the prime minister just before he departed to Saudi Arabia for his first foreign trip since he was inaugurated.  Somali-born Norwegian national Hassan Ali Khaire, the former executive Africa of the British energy explorer Soma Oil, was appointed as the new prime minister on Thursday morning. Mohamed, who was inaugurated as president on Wednesday, also holds US citizenship. He was elected earlier this month in a step toward establishing Somalia's first fully functioning central government in a quarter-century.

Nigerian community in South Africa calls for protection after reports of renewed 'xenophobic' violence in Pretoria West. Members of Nigeria's community in  South Africa  have raised concerns over renewed anti-immigrant violence, appealing to authorities to intervene before the situation gets out of control. Nigeria's presidency on Monday called the South African government to step in to stop what it said were " xenophobic attacks " following recent reports of violence against Nigerians and other nationals in the capital, Pretoria. The Nigerian Union South Africa (NUSA) on Tuesday confirmed that Nigerian homes and businesses in Pretoria West had been attacked in several late-night incidents in recent days. "Homes and shops of Nigerians were targeted and looted in the events of past few days," Emeka Ezinteje Collins, national public relations officer of NUSA, said, citing at least 10 such attacks. He added: "Our people and other for...

      Spokesperson of the Senate, Aliyu Sabi says the Senate on Tuesday confirmed the receipt of President Muhammadu Buhari’s letter to extend his 10-day vacation in UK. Mr. Sabi who made this known on Tuesday said that the letter did not specify when the president would return to the country. “You will recall that we received a letter from President Muhammadu Buhari before suspending plenary to attend to the budget. “In the letter dated January 18, he informed the senate that he was proceeding on a 10-day vacation and for medical checkup. “He also stated very clearly that in his absence, the Vice President will be in charge of the affairs of the country. “We are also in receipt of a second letter informing us that he is extending his vacation because in the course of the routine checkup, his doctors recommended more checkups-octors recommended more checkups,“ he said. The spokesman said that the senate would deliberate on the letter upon resumption on Febr...

A little clip of a girl who shows her talent in drums to public, by a tremendous performance.                                                            "What your hand finds doing, should be done well."

The Founder and President of Omega Fire Ministry Worldwide, Apostle Johnson Suleman has sent his warm appreciation to Nigerians, Africans and the world in general for their exceptional show of love during his recent encounter with the Department of the State Security (DSS). Suleman in his thank you message during the kick-off of this year’s edition of the annual ‘The Ebenezer’ programme to mark the ministry’s 13thanniversary, said: “ I’m grateful to all. I never knew I was so loved. For the first time ever, fellow Nigerians behaved like Americans. Nigerians naturally have business-like mentality but I was shocked that on this particular issue, 90 percent of Nigerians spoke with one voice, saying enough is enough. We were not fighting any government, we just declared our stand that we are not cowards and we cannot be cowed by fear. I was so shocked at the level of strength and courage that I had throughout the period. And the courage I surmounted was aided by the love and exc...

                                              Aisha Buhari, wife of Muhammadu Buhari, presidential candidate of the All Progressives Congress, APC has debunked rumours that her husband is ill and being hospitalized in a London hospital; DAILY TIMES reports. Speaking to newsmen at the Westminster Plaza Hotel, in Waterloo, Mrs Buhari said, ”He’s just come here to rest. He’s just here to have a rest, at least a few days rest before he goes back to business”. ”When asked if her husband was in hospital, she said, ”I’m hearing it for the first time”.