News
FX Crisis: Dollar May Exchange For N4000 By End Of 2024 — Ozekhome Warns

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.
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“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.
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”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.
News
Senate Recommends Death Penalty For Kidnappers

The Senate has passed a resolution classifying kidnapping as an act of terrorism, stipulating that an amendment to the Terrorism Act be made to impose the maximum penalty of death.
The resolution was made during plenary on Wednesday.
Under the new law, according to the upper legislative arm, once a kidnapping conviction is established, the death penalty must be applied.
Nigeria suffers from a persistent security crisis fuelled by attacks and violence by “bandit” gangs that raid villages, kill people, and kidnap for ransom.
READ ALSO:Senate Uncovers $300bn Unaccounted Crude Oil Sales
In response to recent kidnappings and attacks by terrorists, President Bola Tinubu on Tuesday ordered a total security cordon over the forests in Kwara State.
Series Of Abductions
Bandits had struck the Isapa community of the Ekiti Local Government Area of Kwara State, abducting 11 residents.
The attack came about two weeks after and 38 worshippers were abducted from a Christ Apostolic Church (CAC) in the Eruku community of the state.
Terrorists also attacked St. Mary’s Catholic Primary and Secondary Schools, Papiri, in Niger State, abducting more that 300 school children and staff in a resurgence of the mass kidnappings that have long harrowed Africa’s most populous country.
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In the same week, 24 schoolgirls were taken from the Government Comprehensive Girls Secondary School, Maga, Danko Wasagu Local Government Area in Kebbi State, but regained freedom on Tuesday.
At least 50 taken from St Mary’s Catholic school also managed to escape, but more than 265 children and teachers are still being held.
Nigeria’s high-profile mass kidnapping was that of the Chibok schoolgirls in 2014, when Boko Haram forced 276 girls from their dormitories in the North-East region.
More than a decade later, man of the Chibok girls are still missing.
News
FG Threatens To Seize Dana Air Assets

The Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed that the Federal Government may recover and sell the assets of Dana Air to refund passengers and travel agents whose funds remain trapped following the suspension of the airline’s operations.
The Minister disclosed this in Abuja on Tuesday at the Ministry’s fourth quarter stakeholders’ engagement to enhance governance for effective service delivery in aviation with the theme: “leveraging public feedback to drive excellence in aviation services”.
According to him, the Nigeria Civil Aviation Authority (NCAA) will be directed to probe why funds trapped by the airline are yet to be refunded.
He revealed that the Authority suspended the operations of the airline as a matter of choice between safety and disaster.
READ ALSO:NCAA Petitions IGP Over KWAM 1’s Unruly Conduct In Abuja Airport
“For Dana, the problem is that it was a choice between safety and disaster. So we didn’t take the commercial thing as priority. The priority was safety, and we all looked at the damning reports that we had met on the table.
“It was a decision of the NCAA to suspend them, but I pushed them to say, look, these are the reports we are seeing on the table about safety record, about lack of standards that put the lives of Nigerians at risk. If they continue flying, I don’t know whether most of us will be here. Many of us would have been victims of one of those flights. God forbid.”
According to him, “I have asked Najomo to dig deep to find out how those passengers and agents will be refunded. He has to dig deep on that.
“One solution will also be that if that same individual or those entities are trying to come back to aviation under any guise, whether to go and register a new AOC or use any business within the aviation sector, they have to go and settle their debts first.
READ ALSO:NCAA Seeks K1 De Ultimate’s Arrest, Petitions AGF, IG
“We should look at their assets. There are assets that are still available. Let them sell their assets. Let’s cannibalize their revenue and pay people. Let’s find a way to go after their assets and get money to pay Nigerians who are owed.
“NCAA should do that because they can’t get away with it.”
News
Tinubu Appoints Non-Career Ambassadors For US, UK, France

President Bola Tinubu has nominated non-career ambassadors for the United States, the United Kingdom, and France.
The three nominees are Ayodele Oke, Colonel Lateef Are (retd.), and Amin Dalhatu.
A post by his Special Adviser on Information and Strategy, Bayo Onanuga, on X revealed that the postings would be finalised following Senate screening.
According to the statement, Dalhatu previously served as Nigeria’s ambassador to South Korea under the Late President Muhammadu Buhari’s administration.
Oke, an alumnus of Emory University in Atlanta, is a former Director General of the National Intelligence Agency (NIA) and previously served as Nigeria’s ambassador to the Secretariat of the Commonwealth of Nations in London.
Colonel Are was the director general of the State Security Service (SSS) from 1999 to 2007, served as National Security Adviser in 2010, and was an officer in the Directorate of Military Intelligence.
He also graduated with First Class honours in Psychology from the University of Ibadan in 1980.
Tinubu had on Wednesday forwarded the names of three non-career ambassadorial nominees to the Senate for confirmation.
READ ALSO:N6trn: Court Orders Tinubu To Publish NDDC Audit Report, Name Indicted Officials
The letter was read during plenary by the Senate President, Godswill Akpabio.
Akpabio has, therefore, directed the Senate Committee on Foreign Affairs to review the nominations and report back to the chamber within one week.
There had been calls on the President to appoint ambassadors and high commissioners for foreign missions.
A former Nigerian External Affairs Minister, Bolaji Akinyemi, had argued that, despite internet access to information, diplomacy still required personal ambassadorial contact.
READ ALSO:Irresponsible Of You To Blame Trump Over Rising Insecurity – ADC Blasts Tinubu’s Govt
“I believe credible appointments should be made to the vacant ambassadorial posts. We need to fill them,” Akinyemi said during an interview on Channels Television’s Politics Today in September.
“The absence of ambassadors does not deny us information. But diplomacy runs on ambassadorial contact, the interaction between governments and ambassadors,” he added.
But while dismissing recent criticisms by the African Democratic Congress (ADC) about delays in ambassadorial appointments in June, the Federal Ministry of Foreign Affairs said Nigeria’s diplomatic missions remain fully operational and effectively represented by seasoned foreign service officers, including experienced chargés d’affaires.
READ ALSO:Genocide: U.S. Lawmaker Alleges Tinubu Lying, Protecting Own Interest
The ministry, while acknowledging long-standing structural and funding challenges that predate the current administration, said that Nigerian diplomats continued to serve with distinction, often under difficult circumstances.
Tinubu recalled the country’s ambassadors were recalled by President Tinubu in September 2023.
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