Nigerian Senate won’t interfere with any religion – Saraki

Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate will not make laws that interfere with the religious creeds of Nigerians.
Saraki, according to a statement by his Chief Press Secretary, Sanni Onogu, disclosed this when the Council of Ulama (Muslim clerics) in Nigeria visited him in Abuja.
“I say that again, whatever laws we pass here, will be respectful to the religious beliefs of our people. We will not do anything that will in anyway go against that.

“We are trying our best to ensure that we pass laws that will make direct positive impact on Nigerians. I want to also use this opportunity to assure you that whatever laws we pass here, will be sensitive to the religious values of the whole Nigeria”, Saraki said.

The Senate President also commended the Council for uniting all Islamic scholars under one umbrella, a development he said has contributed immensely to the stability and progress of not only the Islamic religion but that of the nation.
He expressed the commitment of the Senate to make the country better by passing laws that make positive impact in the life of the citizenry.

He further stated that the Senate is working hard to replicate the successes achieved in the fight against terrorism, in the fight against corruption and the revival of the economy.
“We thank God for the success we have made in the fight against corruption and I am sure that the progress will be extended to the economy in order to put this country in a better place,” he said.
On his part, the Chairman of the Council of Ulama in Nigeria, Sheik Abdullahi Abubakar Tureta, commended the Senate President for his patience and perseverance in the face of political adversity since his emergence as Senate President.
“We praise you for that and we are not surprised looking at your family background and we urge you to continue to be patient and persevere as the Almighty Allah promised to be with the patient one,” Tureta said.

R​eminding the Senate President about the burden of leadership, Tureta said the responsibility for the welfare of all Nigerians has been placed on both the executive and the legislative arm of government.
“If the two of you cooperate, everything will go well with the country, but if you work at cross-purposes, only the Almighty God knows what will befall the country.”
On his part, the Secretary General of the Council, Professor Mohammed Sadiq Abubakar, lauded the cooperation between the Senate and the Executive in the fight against terrorism in the country.
He noted that the cooperation contributed in no small measure in defeating terrorists and insurgents in the North East.
Abubakar urged the two arms of government (executive and legislature), to further strengthen their relationship​.
“We are happy about the fence mending and reconciliation efforts of the President with the Senate. I was happy when I read that the Senate President in a newspaper interview said that there is no quarrel between the executive and the Senate.
The Council of Ulama of Nigeria, he said, was established 31 years ago to unite the Ulamas from all the Islamic sects for the purpose of stability within adherents of the Islamic religion and the nation in general, saying that, “our membership is drawn from all Islamic sects without any form of discrimination.”

Kenya seeks cheaper oil from Saudi Arabia.

This was discussed during a meeting between President Uhuru Kenyatta and the visiting delegation from Saudi Arabia, on Wednesday at Sate House Nairobi.

Kenya is also hoping to export cattle and beef products to the middle-east oil-rich nation.

A delegation of over 30 top Saudi investors led by Saudi Arabia’s Commerce and Investment Minister Majed Bin Abdulla Alqassabi expressed their growing appetite to invest in the country, noting the improved business environment created by President Uhuru Kenyatta’s administration.
“We have taken deliberate efforts to create a conducive environment for foreign and domestic investment to thrive side by side. We urge you to take advantage of the huge opportunities that we have created, key among them being infrastructure projects,” the President said.
President Kenyatta welcomed the Saudi business people to set shop in Kenya, assuring them of his administration’s commitment to facilitate the smooth operation of their companies.
He acknowledged the significant growth of trade between the two countries but emphasized the need for Saudi investors to make Kenya their investment destination of choice to bridge the balance of trade that is currently tilted in favour of the Arabian Peninsula State.
Kenya’s exports to Saudi Arabia include tea, coffee, vegetables, textile materials, fruits, nuts and beef among others while major imports include oil, molasses, chemical products and paper.
Leading Saudi companies present at the meeting included Al Mobty Group of Companies which was represented by its chairman Eng. Abdullah Al-Mobty, Alkorayef Group represented by Saad Abdullah Alkorayef and Hmood Al Khalaf Trading and Transportation Group whose General Manager Hmood Al Khalaf attended the meeting.

Gov. Badaru sacks 108 Jigawa hotel workers

Governor Muhammed Badaru Abubakar Badaru of Jigawa State has ordered for the immediate disengagement of 108 workers of the state-owned hotel, ‘ Three Star Hotel Dutse’.
Investigations revealed that Governor Badaru’s government was not happy with the way the state-owned hotel is being run especially as it could not pay its workers salary.

To correct this anomaly, the state government took the decision to lay off the affected workers leaving 16 workers behind, while the employment of 108 others were terminated with immediate effect.
It was, however, learnt that a Memorandum of Understanding was signed between the Jigawa State Government and the affected staff that 50 percent of their entitlements would be paid to them with the promise to re-engage them  as casual workers and posted to other government agencies.
One of the affected staff,  Umar Y.  Dutse, said government failed as it only paid them 30 percent as against 50 percent agreed with them in the MoU.
His words, ” Government issued us with a termination of appointment letter and promised to pay us 50 percent of our entitlement but  to our surprise we received only 30 percent while some 35 percent”.
When contacted,  Commissioner for Commerce and Industries, Aminu Sidi Yalleman, confirmed the development  saying, government was planning for a total rehabilitation of the facility.
The commissioner, who spoke through the Public Relations Officer of the ministry,  Mal. Zubairu Suleiman, said government would look into the possibility  of reengaging the sacked workers and post them to other government ministries and other agencies as casual.

Nigeria: NNPC, Customs, Others Shun U.S.$17 Billion Missing Oil Probe

The House of Representatives Ad-hoc Committee on the $17 billion missing from undeclared crude oil and liquefied natural gas exports to global destinations on Tuesday commenced its public hearing into the matter.

Declaring the hearing open, the Speaker of the House, Hon. Yakubu Dogara, said incidence of missing oil money had become a recurring decimal in a sector which is the mainstay of the economy.

Represented by the House Minority Whip, Hon. Yakubu Bade, the Speaker said the National Assembly's interest in investigating the sector stemmed from a deliberate effort to cleanse the industry of the rot which had become the hallmark of its existence over the years.

But curiously, progress of the hearing was hampered by the failure by heads of relevant agencies to turn up or provide for formal representation despite receiving correspondence from the committee.

Individuals who showed up supposedly for the Central Bank of Nigeria (CBN), the Nigeria Petroleum Development Company (NPDC) and the Department of Petroleum Resources (DPR) do not have formal authorisation to represent their chief executives, a situation which infuriated the committee members who refused to have any engagement with them unless their chief executives are present to address areas of interest in the probe.

Arik Air owes banks, others N387bn – AMCON

The Asset Management Corporation of Nigeria (AMCON) on Wednesday put the total debt of Arik Air at N387 billion, saying there is no way the carrier could have remained in profitable without the takeover of the business by government.
This came just as AMCON said it has injected over N1.5 billion into the troubled carrier since it took over on February 8, 2017.
The Receiver Manager of Arik Air, Oluseye Opasanya (SAN), disclosed this in an affidavit deposed to at the Federal High Court, Lagos.
He said the airline was indebted to many financial institutions, insurance companies, aviation agencies, aircraft lessors and other creditors for services rendered.
He said upon the takeover of the airline two months ago, there were no spares in the aircraft stores, a development that could have threatened the safety of its operations, save for the timely intervention of AMCON.
He said the new team at Arik Air is piqued by the unfolding rot still being discovered at the airline which was recently taken over by the Federal Government through AMCON.
He listed many infractions by the former owner of Arik Air to include unprofessional practice, huge indebtedness, non-existent records and lack of corporate governance, among others.

2017 TRUMP INAUGURATION: SCHEDULE OF EVENTS

The three days of events will kick off with a wreath-laying ceremony at Arlington National Cemetery in Virginia.

Early in the afternoon of January 20, Donald Trump will become the 45th president of the United States after taking the oath of office at the Capitol, in what will be the country’s 58th inauguration ceremony.

The president-elect’s Inaugural Committee has released a schedule of official events for three days of celebrations, but some of the details have not yet been made public. The weekend, according to the Trump team, kicks off on January 19.

Thursday, January 19

Wreath-Laying Ceremony
Where: Arlington National Cemetery
When: 3:30—4 p.m.
Details: Trump and Vice President-elect Mike Pence will honor the country’s veterans at the U.S. military cemetery in Arlington, Virginia.

Make American Great Again! Welcome Celebration
Where: Lincoln Memorial
​When: 4—6 p.m.
​Details: The inaugural events officially start with this event, which will include a concert and appearances by Trump and Pence, along with performers Toby Keith, Jennifer Holliday, The Piano Guys, Lee Greenwood, RaviDrums, 3 Doors Down and The Frontmen of Country. A ticket is required for special viewing areas.

Friday, January 20

Inaugural Swearing-In Ceremony
Where: West Front of the U.S. Capitol Building
When: Ceremony begins at 9:30 a.m.; opening remarks at 11:30 a.m.; swearing in at noon by Supreme Court Chief Justice John Roberts Jr.
Details: The Trump and Pence families will join them, as will members of Congress, the U.S. Supreme Court, diplomatic corps and other invited guests. A ticket is not required for general admission.

The Mormon Tabernacle Choir and America’s Got Talent alumna Jackie Evancho have accepted invitations to perform at Trump’s swearing-in ceremony. Breaking with a tradition that has stretched back 11 presidents, Trump has replaced the inauguration announcer, instead tapping Steve Ray, a Washington-based announcer who has worked with MLB’s Washington Nationals.

Hillary Clinton, who lost to Trump, will attend the inauguration with her husband, former President Bill Clinton. Former President George W. Bush and former first lady Laura Bush, as well as former President Jimmy Carter, also will be there. Former presidents typically attend the ceremonial transfer of power. But Bush’s father, former President George H.W. Bush, won’t be in attendance because of his health.

Inaugural Parade
Where: Starts at the steps of the Capitol Building and proceeds along Pennsylvania Avenue to the White House.
When: 3—5 p.m.
Details: Trump, Pence and their families will be escorted down Pennsylvania Avenue, followed by parade participants. A ticket is required for special viewing areas.

Thirty-four local and six national groups will participate, according to Roll Call. Despite protests by some alumni, Talladega College is sending its marching band for the parade. (The historically black school is located in Alabama.) The New York-based Rockettes also are slated to perform.

Many streets will be closed along the parade route and around the National Mall. D.C. officials have created a website and Twitter account to help residents prepare for the event. Social media users can ask questions with the hashtag #Inaug2017.

Inaugural Balls
Where: Walter E. Washington Convention Center and National Building Museum
When: 7—11 p.m.
Details: At least three official inaugural balls are planned, and they will feature dancing, entertainment and appearances by Trump and his wife, Melania. The two main balls will be held at the Walter E. Washington Convention Center, and the Salute to Our Armed Services Ball will be at the National Building Museum, according to The Washington Post. There also will be several unofficial balls on this night. Landmarks and themes from New York, Trump’s hometown, will dominate the “Big Apple Ball,” the New York Daily News says. A ticket is required.

Saturday, January 21

National Prayer Service
Where: Washington National Cathedral
When: 10—11 a.m.
Details: This will be an interfaith prayer service.

What Is the Cost of Inauguration?

The District of Columbia so far has spent the $19 million that was appropriated for the inauguration. Mayor Muriel Bowser said she expects the cost will reach $30 million. But this year is “not unlike previous years where they spent more than the appropriations,” she said during an inauguration press briefing on January 6.

How Many Will Attend?

As with any inauguration, hundreds of thousands of people are expected to visit and celebrate the event, while others are planning to descend on the town to protest the incoming president and his vice president. At the press briefing, Bowser declined to predict how many will attend the event. Instead, she said her team is planning for the largest number possible and basing its plans on past inaugurations.

The U.S. Secret Service is the lead agency responsible for overseeing security plans for the inauguration. Bowser said it has prepared for all potential threats that may arise. In addition to the presence of D.C. police, Secret Service and other federal and local law enforcement officers, along with 3,000 police officers from other localities, will assist. Also, 5,000 National Guardsmen will help in downtown D.C. to protect the perimeter around the parade route, Bowser said.

Her team has prepared for “any and all circumstances,” as well as for people to visit the city and exercise their First Amendment rights. Many groups have applied for permits to do so through the U.S. Park Police and the Metropolitan Police Department. The Park Service has received at least 23 permit requests from groups seeking to demonstrate in favor of and against Trump, The New York Times reported. The Metropolitan Police granted three permits for Freedom Plaza demonstrations, the director of the D.C. Homeland Security and Emergency Management Agency, Chris Geldart, said at the January 6 briefing.

“We expect people to comply with their permits. We expect them to exercise their rights peacefully, and we’ll be prepared should anybody choose not to,” Bowser said. Officials will treat every attendee as the general public because there aren’t designated areas for demonstrating.

Trump’s inauguration committee has been providing information to and communicating with D.C. residents and business owners about the weekend events.

Reasons Why MMM Nigeria Removes All Payment Request

The message reads, “Many participants wokeup this morning to see that their Get Help (GH) orders have been removed completely from their PO’s Dashboard.




Though some people called it canceled but the truth of thematter is that it was only removed not canceled. Please note that the GH orders were not cancelled because if cancelled, you will see it at the right hand side as deleted.

It was removed because of the following reasons:“There is an ongoing upgrade because programmers are always working on the MMM system every day so the promised New Model can be unveiled as soon as possible.

You might notice earlier this morning, the login Captcha was showing alphanumeric asagainst the numbers until it restored to numbers later today.“Moreso, many participants have formed the habit of cancelling their GH orders and creating new GH orders hoping they will be matched earlier.

There is no need for that anyway but to forestall that, the created GHorders were removed and that is why you can’t create new GH orders because the old GH orders have not been cancelled but removed and withdrawal is still pending.

“There is no cause for any alarm over the removed GH orders, if you check your Mavro,you will notice the value of the removed GH order has been restored and had also increased though it is still showing pending withdrawal.

“There have been reports of “removed GH orders” in some POs. The removed GH ordersare mostly GH orders created on Friday/Saturday.“There is no cause for any alarm. The value of the removed GH order has been restored and increased though showing pending withdrawal.

“The removal of the GH orders and other changes/errors you might notice are indications that the#NewModel is taking shape gradually.“Tuesday (Mavro growing day), a lot of participants created GH orders thus the message “GH amount exceeds allowed daily maximum.

“Please await further instructions either to create a new GH order or if it will be automatically restored and matched.“We crave your indulgence, patience & understanding at this period. We are doing our best to have these issues/upgrades resolved ASAP.

“Let’s be patient while the Administrators of MMM do their best to restore the confidence we have in the system.”

Zimbabwe arrests Pastor who Predicted Mugabe’s Death….

A Zimbabwean pastor, Patrick Mugadza, who prophesied that 92 year old president Robert Mugabe would die on 17th October, 2017 has been arrested.

Mugadza had in December predicted the death of Mugabe and urged him to pray hard if he wanted to avoid that fate.

Mugadza was arrested on Monday in Harare on charges of undermining the authority of the president, but the charge was then changed to criminal nuisance, his lawyer Gift Mtisi said.

Mr. Mugadza is not admitting to the charge against him, “as he is arguing that what he said was given to him by God during a prayer,” Mr. Mtisi said.

Local Government Minister Savior Kasukuwere said the authorities would clamp down on priests raising alarm. “These prophets are becoming reckless and careless, they need to be put on a leash,” he said.

The pastor is expected to appear in court on Tuesday.

Mugadza of the Remnant Pentecostal Church hit the spotlight in 2015 when he single-handedly  protested the incompetence of Mugabe.

There have been protests against President Mugabe who has ruled Zimbabwe for 37 years. Many have accused him of running down the economy of the south African country but he is still bent on running for office again by 2018. He has also been endorsed by his party.

The prophet’s arrest comes as the ruling party prepares to throw a huge party to celebrate Mugabe’s 93rd birthday on February 21.

State of Development in Niger Delta Scandalous, Says Osinbajo

In an apparent shift in perception of persistent agitation in the Niger Delta by the Buhari administration, the Vice-President, Prof. Yemi Osinbajo, has stressed that nobody could rightly be proud of the very poor level of development of the oil-rich Niger Delta region of Nigeria.

Osinbajo, who spoke on Monday during a fact-finding visit to Delta State, including the Ijaw Gbaramatu area in Warri South-West Local Government Area of the state, decried years of palpable neglect of the region.

He however charged the people of the Niger Delta to ensure stability of the region in order to engender speedy development of the area since violence and insecurity were inimical to any meaningful development as they create instability.

Addressing stakeholders at the conference hall of the Petroleum Training Institute, Effurun, near Warri, during a fact-finding mission to the state, the vice-president described as unfortunate the fact that there was little evidence to justify the huge contribution of the Niger Delta to the development of Nigeria.

According to Osinbajo  “No Nigerian can be proud with the state of development in the Niger Delta; we are all beneficiaries from resources from the region. However, we cannot have instability and be able to carry out speedy development of the region.

He nevertheless urged all stakeholders to join in the effort to bring about the desired stability in the Nigeria Delta, noting that President Mohammadu Buhari was committed to the development of the region.

He said, “The issues at stake are very clear, this is not time for negotiation, it is time to act and we know the issues, we must all prepare for a future that will not be dependent in oil resources.”

“The Lagos-Calabar railway project is in the 2017 budget and when completed, it will benefit all the people of the Niger Delta, the Maritime University will come on stream, I can assure you that it is a done deal, we must do it. Ports are revenue generating, so plans are on to develop them but the issue is, how do we fund the projects?

“The President is an honest man and my coming here for this programme is clear evidence that the Niger Delta is being carried along.”

Osinbajo, during the visit to Gbaramatu Kingdom, had a closed-door meeting with the royal father, Oboro Gbaraun II Aketekpe, Agbdagba the Pere of Gbaramatu Kingdom and had a town hall meeting with the people of the kingdom.

Accompanied by his chief host, Governor Ifenayi Okowa, the vice-president also inspected the facilities at the controversial Maritime University, Okerenkoko.

Earlier, he paid a courtesy call on the Itsekiri monarch, the Olu of Warri Kingdom, HRM Ogiame Ikenwoli I, in his palace in Warri, Warri South Local Government Area.

Representatives of different ethnic nationalities as well as youth organizations made presentations on their expecting from the federal government at the several places visited by the vice-president.

With Dr Okowa to welcome Osinbajo, who arrived Warri via Osubi Airstrip, were the Minister of State for Petroleum, Dr Ibe Kachikwu and other top federal and state government functionaries.

MMM: Apostle Johnson Suleiman sacks pastor for playing ponzi scheme

The Apostle Johnson Suleiman’s church, Omega Fire Ministries, OFM, Worldwide, has fired one of its Pastors, Joseph Aiyedun, for using the ministry’s name to participate in popular money doubling scheme, Mavrodi Mondial Movement, MMM.

This was disclosed in a statement by the church’s Head of Administration, Pastor David Apelorioye.

The statement disclosed that Aiyedun prior to his sack was in charge of one the OFM’s branches in Aba, Abia State.

Recall that Suleiman, who in November 2016, described MMM as demonic had warned his members against participating in the ponzi scheme.

According to the statement, Pastor Aiyedun was sacked after a thorough investigation revealed that he used the name of the church to register for MMM, thereby denting the ministry’s image in the public eye.

The statement reads, “The management of Omega Fire Ministries Worldwide is using this medium to react to a news making the rounds on the social media regarding one of his pastors who used the ministry’s name to register for the MMM scheme.

“Ordinarily, the church would not have reacted to the story because of falsehoods being published regularly by some blogs and news websites whose credibility are questionable.

“But after a thorough investigation by the church authority, it was established that one of our branch pastors in Aba, Pastor Joseph Aiyedun, indeed participated in the scheme.

“The church authority decided to expel Pastor Aiyedun not because he registered for the ponzi scheme but because he involved the ministry’s name in the satanic adventure.

“And we discovered that he was able to use the ministry’s name because he had access to the account of his branch which itself is against the church’s guidelines and a fraud likely to have been carried out in connivance with the branch’s account department. We are still investigating further to unravel the whole activities.

“Of the OFM’s 200 churches in Nigeria alone and its 800 branches in 51 nations of the world, it is possible for any of the pastors to go astray and be corrected.

“In fact, we discovered that Pastor Aiyedun, including some other members of OFM, did the scheme before our father, Apostle Johnson Suleman made the warning last year against MMM, but Pastor Aiyedun was fired because he did it with the ministry’s name as the OFM rules forbid any of its pastors access to the account except people in the account department.”

President Buhari is inflicting hardships on Nigerians – Fayose

Ekiti State Governor, Mr Ayodele Fayose has stated that from all indications, President Muhammadu Buhari is just here to inflict hardships on Nigerians.

The governor showered praises on the National Assembly for constantly turning down what he described as President Buhari’s anti-people policies.

Fayose said that the “persistent rejection of the President Buhari’s policies by a National Assembly that is controlled by his own party is an indirect way of passing vote of no confidence on the President and a call to action by the president and his men to take proper stock.”

The governor expressed happiness that “even the National Assembly members have now seen what he had seen since the beginning of the present APC led Federal Government and are now standing up in defence of the ordinary Nigerians, who are suffering as a result of bad policies of the federal government.”

In a statement issued by his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose said he was glad that members of the national assembly were begging to see the other side of Buhari, hence, their reason to reject some of his policies.

He cited the recent rejection of the planed increase of data tariff by the Nigeria Communication 

The governor said; “In the last few months, the National Assembly as an institution has come to the aid of the suffering masses of Nigeria by stopping the federal government’s bad policies.

“Some of such major interventions were the stoppage of the planned data tariff increase, resolution urging the Nigeria Customs Service (NCS) to suspend the ban on the importation of vehicles through land borders, and opposition of the planned closure of the Nnamdi Azikiwe International Airport, Abuja, for the repairs of its runway and the diversion of flights to the Kaduna airport.

“Particularly, even though elementary economists should know that ban on the importation of vehicles through land borders would cause loss of several thousands of jobs and further make vehicles unaffordable for ordinary Nigerians, the federal government adopted the policy without minding its adverse effects on Nigerians.

“Also, they knew that a complete shutdown of the Nnamdi Azikiwe International Airport, Abuja and diversion of flights to the Kaduna airport will endanger the lives of both local and international air travellers that will have to travel by land from Kaduna to Abuja and further jeopardise the economy of the country.

“Instead of closing the Abuja airport completely, why not use the VIP section?

“It appears this government of President Buhari is just here to inflict hardships on Nigerians and I commend the National Assembly for standing firmly on the side of the masses by showing to the whole world that the President and his government no longer enjoy the confidence of the people, especially the suffering masses.”

System Collapse Worsens Power Supply, as Electricity Generation Drops to 1,681MW

The collapse of the transmission infrastructure has worsened power supply as generation averaged 1,681.36 megawatts yesterday, down from a peak of 3,131.1 megawatts generated before the system collapsed on Sunday night, dropping generation to 10 megawatts.

OPINIONVOICES gathered that before the system collapsed, power generation on Saturday had peaked at 3,410 megawatts, which lasted for only two hours, before it dropped to 2,295.93 megawatts.

The Daily Hourly Demand Report obtained by THISDAY from the National Control Centre at Osogbo showed that 2,295.93 megawatts was generated for seven hours that extended till Sunday, before it dropped to 1,745.51 megawatts, which lasted for 10 hours.

While the system collapsed at exactly 7.27 pm on Sunday, generation ramped up to average 1,681.36 megawatts yesterday.

But the Daily Operational Report from the Nigeria Electricity System Operator, an arm of the Transmission Company of Nigeria (TCN), showed that generation at exactly 6 am yesterday was only 478.8 megawatts.

With the low generation from the grid, it was learnt that the distribution companies were allocated less power from the grid, thus causing darkness in most parts of the country since Sunday.

For instance, it was gathered that the Eko Electricity Distribution Company (EKEDC), which was allocated over 400 megawatts when generation improved during the Christmas celebration, received 192.01 megawatts for four hours yesterday before it dropped further to 162.01 megawatts, which lasted for six hours.

Before the system collapsed on Sunday, EKEDC had received allocations of 375.10 megawatts for two hours, 252.55 megawatts for three hours, 232.55 megawatts for three hours, and 212.55 megawatts for one hour.

In his reaction to the poor power allocation from the grid, the spokesman of EKEDC, Mr. Godwin Idemudia, in a statement yesterday apologised to the company’s numerous customers over the prolonged power outage.

Idemudia also confirmed that the outage was due to a system collapse from the National Grid, which affected the entire country.

He said repairs were being carried out to bring the system back on line and restore power, adding that the Ikeja West line, which comprises of Agbara and Akoka, had gradually been restored as of 03.56hours yesterday.

According to him, the other areas of Lagos are due to come on line soon.

“We are therefore appealing to customers to bear with us as supply will be restored as soon as these repairs are concluded. EKEDC highly regrets any inconveniences caused by this outage,” he said.

A data from the NCC also showed that a partial system collapse had occurred on January 12 at 8.41 am, leading to loss of supply to Lagos, Osogbo, Jebba, Kainji and Shiroro.

Nigeria: Naira Stabilises At N497/$ As Hope of Recovery Imminent

The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery.

The Nigerian currency, however, strengthened against the Pounds Sterling, but weakened against the Euro at the open or parallel market as it closed at N595 and N517, respectively; from N597 and N515 posted.

At the Bureau De Change (BDC) window, the Naira traded at N399 to a dollar, a rate it would maintain for the rest of the week, while the Pound Sterling and the Euro traded at N604 and N522 respectively.

Trading at the interbank market saw the Naira weakened further at N305.25 to a dollar, from N305 posted on Friday.

Traders at the market said that while the scarcity of the greenback remained visible, there were strong indications that the Naira was on its way to imminent recovery.

NAN reports that since the closure in the sale of forex to BDCs last December, the spike in the Naira exchange rate had continued unabated.

Worried by the development, the Association of Bureau De Change Operators of Nigeria (ABCON) last week pushed for the adoption of a single rate at the market.

Alhaji Aminu Gwadabe, the President ABCON, argued that multiple rates were frustrating efforts at stabilising the Naira and fast tracking its recovery trajectory.

Gwadabe expressed optimism that the resumption in the sale of about N250 million dollars to members of the association this week would help in addressing liquidity challenges in the market.

Nigeria

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