Naira crashes, now exchanging at N412 for a dollar

The Nigerian Naira plunged further in value on Monday March 30, as it exchanged at N412 for a dollar following a temporary suspension of sale of forex to the Bureau De Change operators in the country by the Central Bank of Nigeria. .

Recall that the apex bank had pegged the exchange rate of the Naira at N380 to the dollar, a move it insisted was not a devaluation of the Nigerian currency.

The CBN however granted the Association of Bureaux De Change Operators of Nigeria its request of going on holiday due to challenges in the local and global economies over the coronavirus pandemic. .

While the Naira has crashed in its value due to the low price of crude oil in the international market in recent times, BDC operators have disclosed that there has been a drastic decline in demand for forex due to the impact of coronavirus on the economy. The financial market stakeholders also disclosed that businesses are down and many people are not travelling

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Alleged Lagos deadly cult leader "okoko danger" arrested

The Lagos State Police Command says it has arrested a suspected leader of the Aiye confraternity, a secret cult group in the state, who it identified simply as Shola. The suspect was said to be widely known in cult circles in the Mile 2-Badagry expressway axis as Okoko Danger. The Command announced it also arrested four other suspected members of the dreaded gang, namely Idris Musa, 19; Oluwaseyi Oguntobi, 23; Ramon Adebimpe, 18; and Saheed Kareem, 19. The police alleged that Shola, who they described as “’a deadly and notorious armed robber”, was behind the many killings in the Okokomaiko, Igando, Isheri-Osun and Ikotun areas of the state. The Lagos State Commissioner of Police, Hakeem Odumosu, told journalists yesterday at the Command Headquarters, Ikeja, that on February 27, 2020 at about 4.20pm, police operatives from the Special Anti-Robbery Squad, acting on credible intelligence, stormed a hideout at Iyana-Iba, where Shola and his gang members were said to be hibernating. “Four l

Lekki Tollgate incident can be equated to a mas*acre — Lagos ENDSARS Panel

The Lagos State Judicial Panel of Inquiry on Restitution for Victims of SARS Related Ab*ses and Other Matters (Lagos EndSARS Panel) has reported the Lekki Tollgate sh*otings of October 20, 2020, as a mas*acre. The panel indicted soldiers and implicated Nigeria’s security agents in the k*lling and forced disappearances of harmless and unarmed youths protesting at Lekki Tollgate on October 20, 2020. The Justice Doris Okuwobi-led panel made the revelation in a 309-page report submitted to Governor Babajide Sanwo-Olu of Lagos State on Monday, November 14. According to the report, nine protesters were confirmed d*ad while four others were presumed d*ad. The report listed 48 names as those who were casualties of the Lekki incident. Among the 48 casualties listed, 24 sustained g*nshot injuries, while 15 others were as*aulted by soldiers and police. “At the Lekki Toll Gate, officers of the Nigerian Army sh*t, injured and k*lled unarmed helpless and defenseless protesters, with

EFCC releases Obi Cubana after three nights in custody

The Economic and Financial Crimes Commission (EFCC) has finally released businessman Obi Cubana. He was arrested and taken to the headquarters of the anti-graft agency, Jabi, Abuja, on Monday, November 1, following allegations of money laundering and tax fr*ud. He was, however, released on Thursday evening, November 4, after he had spent three days in detention undergoing interrogations. According to the spokesman of the commission, Wilson Uwujaren, who confirmed the release to reporters on Thursday night, Cubana was allowed to go after the crack detectives of the commission completed their questioning.

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