News

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

Published

3 months ago

February 28, 2024

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.

“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.

”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

Adhere To Tenets Of Journalism In Your Reportage, Edo Deputy Gov Tasks Women Journalists

Published

4 hours ago

May 22, 2024

Editor

The Deputy Governor of Edo State, Engr. Marvellous Omobayo, has tasked female journalists in the state under the auspices of Nigeria Association of Women Journalists, NAWOJ, to adhere strictly to the tenets of the profession in their reportage.

Omobayo gave the advice when he received a delegation of the women journalists at his office in Benin.

The used the opportunity of the visit to reiterate his maximum support for the state Governor, Godwin Obaseki to finish strong on his Make Edo Great Again, MEGA project.

Earlier, the Chairperson of the Edo NAWOJ, Comrade Adesuwa Ehimuan said the visit was to congratulate the deputy governor on his elevation as the number two citizen of the state.

Ehimuan further said the visit was also to strengthen the synergy and exploring areas of collaboration to promote the development of journalism and women empowerment in the state.

News

‘I’ve Become An Evangelist’ – Doyin Okupe

Published

5 hours ago

May 21, 2024

Editor

The former campaign director for the Labour Party during the 2023 presidential election, Doyin Okupe, has announced his new vocation as an evangelist of Jesus Christ following his recovery from cancer.

Detailing the challenges he faced with cancer, which initially appeared 16 years ago as prostate cancer and recently in the soft tissues of his right shoulder, Okupe highlighted the role of his medical treatment and divine intervention in his recovery.

“The first problem was cancer I had and the chemotherapy makes you lose appetite, you have nausea, and even as you sustain for several months, you lose weight,” he told Channels TV.

Okupe recounted how his weight dropped from 127kg to 97kg during chemotherapy and settled at 103kg after the treatment ended.

“In all these, I bear witness to God and Jesus Christ, I’m a testimony to the fact that there is nothing the Lord God Jehovah can’t do,” Okupe affirmed.

“From now on, I have become an evangelist and a witness for Christ.”

News

Court Dethrones Ondo Monarch After 29 Years Of Legal Tussle

Published

5 hours ago

May 21, 2024

Editor

Oba Micheal Adetunji Oluwole, the traditional ruler of Ute in the Ose local government area of Ondo state has been dethroned by a state High Court sitting in Owo, Owo local government area of the state after a legal tussle that lasted for 29 years.

Olule Omolaja Ruling House had challenged the retired Army Major’s right to ascend the throne.

Justice Ademola Enikuomehin who nullified the selection process that brought Oba Oluwole to the throne and ordered a fresh selection process into the stool, ordered Oluwole to stop parading himself as the traditional ruler of the town. The fresh selection process will be from the Olule Omoloja ruling house lineage.

According to Justice Enikuomehin, the dethroned monarch had no right to the throne as he’s not a member of the ruling house designated to fill the vacant throne of the town.