News
FX Crisis: Dollar May Exchange For N4000 By End Of 2024 — Ozekhome Warns
Published
1 year agoon
By
Editor
Human rights activist, Mike Ozekhome, says the Dollar may exchange for N4000 by the end of 2024 should the Naira keep falling against the Dollar at its current rate.
Ozekhome stated this in an interview on Channels Television on Tuesday.
The senior lawyer said there are no visible signs that the Naira won’t fall any further.
He said, “Just today, we paid out another $400 million that was so identified. In terms of the reserves, it has gone up to $34 billion.
READ ALSO: Forex Crisis: EFCC 7,000-man Task Force Goes After Dollar Racketeers
“If we are not careful we will get to the situation in Ghana, where they were carrying cedis in baskets to the market to go and buy things and put in their pockets.”
”Why have BDCssit under the trees and tables control our economy.”
Ozekhome stated that the government needs to do everything in its power to alleviate the suffering by going back to the drawing board.
He expressed surprise at the current administration blaming its predecessors for the economic state of the nation
”But to me, it is most embarrassing when I see officials of this government blaming the Jonathan government that left office in 2015, nearly 10 years ago.
READ ALSO: Cooking Gas Price Rises By 38% To N16,250
”Ironically blaming his own predecessor whom they took over from in the APC government. I think everything has gone wrong,” he said
Ozekhome noted that the current administration’s slogan of renewed hope translates to poverty.
”This is not renewed hope, this is renewed poverty.”
Recall that recently, the scarcity and demand for dollars have led to a significant decline in the Naira. The problem according to analysts has been compounded by persistent foreign exchange supply challenges and a significant demand backlog.
But, the CBN governor, Olayemi Cardoso, in his MPC meeting announcement on Tuesday said he ”will do what it takes” to address the monetary issue equally promising to generate more liquidity for the forex market.
”Before the end of this year, if we are not careful, the Naira may exchange for N4000 to the dollar because e there is nothing in place,” he added.
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News
PHOTOS: Brazil Welcomes Tinubu With Full Military Honours In Brasília
Published
12 hours agoon
August 25, 2025By
Editor
Brazil on Monday rolled out full military honours at the Planalto Palace in Brasília to receive President Bola Tinubu.
Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this on X on Monday.
READ ALSO:Tinubu Signs Direct Flight, Other Agreements With Brazil
Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.
Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.
He wrote, “More photos of the official reception for President Tinubu at the Planalto Palace in Brasília, Monday, August 25, 2025. Brazil’s President Luiz Inácio Lula da Silva welcomed President Bola Tinubu with full military honours.”
News
Tinubu Signs Direct Flight, Other Agreements With Brazil
Published
12 hours agoon
August 25, 2025By
Editor
President Bola Ahmed Tinubu has signed a landmark Bilateral Air Service Agreement with Brazil, signalling the establishment of direct air links between Nigeria and South America’s largest economy.
The agreement was formalised on Monday during Tinubu’s official state visit to Brasília.
Media aide to the minister, Tunde Moshood, made this known through a statement, made available to The PUNCH.
At the signing ceremony which was witnessed by Messrs Nigerian President, Tinubu and the Brazilian President Luiz Inácio Lula da Silva in Brasilia also had the Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed the agreement on behalf of Nigeria, while Brazil’s Minister of Transport, Silvio Costa Filho, also signed for the host country.
READ ALSO:2027: You Will Lose 80% Of Northern Muslim Votes If…, APC Forum Warns Tinubu
The BASA creates a new framework for direct flights between Nigeria and Brazil, with the potential to significantly enhance trade, tourism, investment, and diplomatic relations.
The statement further noted that, “ It also marks a key step in Nigeria’s broader efforts to strengthen international partnerships and improve global connectivity.”
Tinubu had arrived in Brazil with a delegation that included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Agriculture and Food Security, Abubakar Kyari; and other senior government officials.
According to the statement, the Brazilian President welcomed the agreement, expressing his administration’s commitment to expanding cooperation with Nigeria in sectors such as aviation, agriculture, and infrastructure.
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He described the BASA as a reflection of the strong ties between both countries and an opportunity to deepen economic and cultural collaboration.
Tinubu is also scheduled to hold meetings with key Brazilian government officials, including the President of the Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.
The two-day visit will include high-level discussions between Nigerian and Brazilian delegations across various sectors, as both nations explore opportunities for mutual growth and development.
The statement reads, “The ongoing state visit will also see President Tinubu meeting the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.
“The working visit, which continues tomorrow, will also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.”

The National Agency for Food and Drug Administration and Control on Monday issued a public alert, warning the public about confirmed counterfeit batches of Postinor-2 (Levonorgestrel 0.75 mg) now circulating in Nigeria.
The alert follows a report from the Society for Family Health, the marketing authorisation holder, confirming that they did not import the suspect batches.
Postinor-2 (Levonorgestrel 0.75mg) is a brand of emergency contraceptive pill containing the active ingredient levonorgestrel.
NAFDAC revealed there are noticeable labelling discrepancies between the authentic and fake products.
READ ALSO:NAFDAC Warns On Recalled U.S. Supplements
It said, “The National Agency for Food and Drug Administration and Control (NAFDAC) hereby notifies the public of falsified Type 1 and 2 batches of POSTINOR 2 (Levonorgestrel 0.75mg) product in circulation.
“The noticeable difference was found to be as follows: The font size of the text on the pin verification sticker appears smaller and has a wrong spelling of the word Veify instead of Verify on the fake; meanwhile, the text font on the sticker of the original appears bigger and more visible. There is also a wrong spelling behind the pack of the fake “Distnibuted in Nigeria” instead of distributed in Nigeria”, NAFDAC said.
NAFDAC identified the original Postinor-2 as batch T32458H, manufactured in February 2023 with an expiry date of February 2027 and registration number 04-6985.
READ ALSO:NAFDAC Uncovers Warehouse Loaded With Explosive Chemicals In Kano
The agency, however, confirmed two falsified versions: Counterfeit Product (Type 1), batch T36184B, manufactured in August 2024 with an expiry date of August 2028; and Counterfeit Product (Type 2), batch 332, manufactured in March 2023 with an expiry date of February 2027, both carrying the registration number 04-6985.
It said that due to the potential presence of incorrect, substandard, or harmful ingredients, improper dosages of levonorgestrel, and a lack of sterile manufacturing conditions, poses significant risks to individual health and public safety.
“The risks of administering falsified Postinor 2 (Levonorgestrel 0.75mg) include failure of contraceptive effect, toxic or harmful contaminants, unpredictable side effects, delayed or missed opportunity for genuine emergency contraception, and potential long-term reproductive health impact. Unexpected side effects: Unknown substances can trigger allergic reactions, organ damage, or death.
“Counterfeit medicines are unregulated, untested, and illegal, making their safety and efficacy impossible to guarantee. Patients should only obtain Postinor-2 from verified pharmacies or licensed healthcare providers.
READ ALSO:NAFDAC Warns Against VDM’s Inciting Video
“Although Investigations are still ongoing regarding the source of the falsified product, all NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the falsified product of type 1 and 2 postinor 2 (Levonorgestrel 0.75mg) within the zones and states,” it added.
NAFDAC urged consumers and healthcare providers to verify PIN stickers carefully, report suspected counterfeit products, and always purchase medications from reputable sources.
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