Petrol price now N550 in most cities as scarcity bites harder

…POS racketeering at Abuja fuel stations emerges The blame-game over the 5-month fuel scarcity at the weekend, continued yesterday, with motorists and other users of the product paying between N240 and N550 per litre in major cities across the country. According to reports, in Lagos, Ondo, Edo, Kwara  Abia, Anambra and Benue States, some independent marketers boldly displayed unofficial prices on their pumps, while others left the old official price of N167 per litre, but verbally announced higher prices to willing buyers. It was observed that in some of the…

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‘Why Buhari approved old naira deadline extension’ — Emefiele

President Muhammadu Buhari, yesterday, in Daura, Katsina State, approved the Central Bank of Nigeria (CBN)’s request to extend the deadline for swapping old naira notes with the redesigned notes from January 31, 2023, to February 10, 2023. Buhari also approved a seven-day grace period, which runs from February 10 to February 17, to allow Nigerians to deposit their old notes at the CBN after which the old notes cease to be legal tender. The CBN governor, Godwin Emefiele, disclosed these to State House correspondents shortly after he met the President…

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“Naira redesign targeted at elites hoarding illicit funds, not common man”, Says Buhari.

The Presidency has for the first time made an attempt to explain the idea behind the hurried redesign of some naira notes, saying it was mainly targeted at frustrating some elite Nigerians who hoard illicit cash. The President’s Senior Special Assistant on Media and Publicity, Garba Shehu, in an issued statement yesterday, said contrary to insinuations, it is not targeted at the common man in the streets. According to the presidency, the Government is not resting on its oars to see that citizens’ businesses are safe. It regretted the disruption…

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NRC suspends Abuja-Kaduna service as train derails again in FCT

The Nigerian Railway Corporation (NRC) has suspended the Abuja-Kaduna rail services after a train again derailed on the corridor. The train is said to be a few minutes from its destination in Abuja when it reportedly veered-off the rail tracks, yesterday. The incident was said to have occurred in the Kubwa area of the Federal Capital Territory, (FCT). In an update on its mobile application, the NRC said it suspended services on the route due to ‘unforeseen circumstances’.  The incident is coming just a few days after the Itakpe-Warri train…

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2023 Elections: Armed Forces will not tolerate acts inimical to successful conduct of polls” — DHQ warns

…Says troops are on red alert Ahead of the General Elections, the Military High Command yesterday warned that the Nigerian Armed Forces, in collaboration with other security forces in the country, would deal decisively with any act inimical to the successful conduct of the coming polls. Fielding questions during the bi-weekly briefing of Defence Correspondents in Abuja, on the troop activities and operational successes being recorded in the various operational theatres within the six geo-political zones of the country in the past two weeks, Director,  Directorate of Defence Media Operations,…

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2023: “Fuel scarcity, Naira redesign a ploy to sabotage election”, Tinubu alleges  

The presidential candidate of the All Progressives Congress (APC), Bola Ahmed Tinubu, has alleged that there are plans to scuttle the 2023 general elections through fuel scarcity and Naira redesign.  The APC presidential candidate stated this while addressing a mammoth crowd of APC members and supporters during the presidential campaign, which was held at the MKO Abiola International Stadium in Abeokuta, Ogun State, yesterday. Tinubu specifically said the fuel crisis and the scarcity of the redesigned naira notes were artificially created to discourage people from voting for the APC. The…

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1999 Constitution Amendment Bill: States reject LG autonomy

…As NASS sends 35 amendment Bills to Buhari for assent The National Assembly says 35 Constitution amendment Bills have been passed by the State’s Houses of Assemblies. The Senate, yesterday, requested its Clerk to transmit the 35 Bills out of the 44 Constitution amendment Bills to President Muhammadu Buhari for his assent. However, among the proposed legislations not approved by the State Houses of Assemblies are Bills seeking financial and legislative autonomy for local governments. The resolution to transmit the Bills to Buhari for assent was passed at Tuesday’s plenary…

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FG denies hike in petrol price

The Federal Government has denied any increase in the price of Premium Motor Spirit, popularly called petrol, despite the hike in the cost of the commodity across the country. The Minister of State for Petroleum Resources, Timipre Sylva, in an issued statement in Abuja yesterday by his media aide, Horatius Egua, said President Muhammadu Buhari had not approved any price increase for PMS. He was quoted as saying, “There is no reason for President Buhari to renege on his earlier promise not to approve any increase in the price of…

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CBN to fine Commercial banks not paying out new Naira notes 1 million naira per money box daily

Nigerian New Naira Notes

Central Bank of Nigeria (CBN), on Friday, said that any commercial bank that failed to pay the new naira notes to customers would be fined N1 million per money box on daily basis. CBN Governor, Godwin Emefiele, made this known at a sensitisation organised for market women operating at Ayegbaju International Market, Osogbo, on the new naira notes, eNaira and other related matters. Emefiele, represented by a CBN Deputy Director, Adeleke Adelokun, said that the apex bank had printed enough naira notes, but observed that commercial banks were not collecting…

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Supreme Court affirms Akpabio APC Senatorial Candidate for Akwa Ibom North

Senator Godswill-Akpabio

The Supreme Court on Friday restored former Akwa Ibom State Governor, Godwin Akpabio as the Senatorial candidate of the All Progressives Congress APC for Akwa Ibom North Senatorial District. In a unanimous judgment delivered by Justice Ibrahim Saulawa, the Apex Court upheld the judgment of the Federal High Court in Abuja which in September last year granted verdict in favour of the immediate past Minister of Niger Delta Affairs. Saulawa after reviewing the arguments canvassed by Akpabio said that his appeal was meritorious and therefore was allowed. The judgement was…

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