The announcement of the ban of Binance and other cryptocurrency exchanges is nothing new.

Remember, they were banned in Nigeria by Emefiele long ago.

 Indeed, Emefy went ahead to punish a few FI's who broke through the backdoor to deal with the crypto speculators. 

But when Tinubu assumed duty, he rolled back the crypto ban, opened the gates for the speculators, and pushed our economy into uncharted territory. 

He also decreed the full float of our Naira without any guardrails pari passu the full throttle deregulation of fuel import scheme without any safeguards. 

The consequence was the spike in FX rates and attendant runaway inflation which has rendered every Nigerian 75% poorer and reduced the value of our currency by 75% too.

Now that the gamble has spectacularly failed and they are trying to return us to where they took us from, some yahoo-yahoo analyst is out, trying to spin that Tinubu has found an answer to a question he intentionally and recklessly created ab initio. 

Under PMB, the FX market was administered using managed float. Right now, we are back to managed float, after the experiment of full-float failed. Under PMB, subsidy was paid for fuel imports. Today, we are back fully to paying subsidies on imported fuel, after the initial gragra failed. PMB inherited the USD at around N200 and got us to around N450 in eight years. Cardi B & Co took up the baton at N450 and throttled us to N1,900 before the recent moderation to N1,400 which has triggered this Yahoo analysis. In ten months!

The stubborn character of data makes this present spin difficult to sustain. No doubt the intentions may have been noble when these decisions were. made. However, there was a demonstrable lack of rigor and deep thinking in executing the agenda. As a result, we are all poorer today by a factor of not less than 60% than we were a year ago.

Worse, we can't ever recover back to the bad old Buhari days. Never!!!

So what is there to celebrate? Starlink internet equipment which I bought at N380,000 two months ago, sells for N1.2 million today. A three-year-old Toyota RAV4 car which cost N19 million four months ago goes for N50 million today. A new Honda CRV car which was N48 million in December 2023 is now N82 million. Yet my salary of 2022 is still exactly my salary today.

So what's all the hype for???

There is uneasy calm on Taraba-Benue border along Wukari – Zaki Biam Highway as gunmen suspected to be militia group operating in Benue State intercepted a bus with 10 passengers heading from Wukari to Zaki Biam.

The bus was stopped few minutes after it took off with the 10 passengers at Takum Junction in Wukari, the headquarters of Wukari Local Government Area of Taraba State on Saturday at about 11am.

Wukari is the home town of Dr. Agbu Kefas, the governor of Taraba State.

The passengers, according a friend to the driver of the bus who spoke to our correspondent on condition of anonymity, were to stop over at Gboko in Benue State, and take another vehicle to Kwara State.

The friend revealed that the passengers were intercepted at Jootar, a major village at border from Benue side.

“My friend revealed to me that he picked the ten passengers at Takum junction in Wukari, among the ten, there was one woman. The gunmen came on motorcycles well-armed, they stopped him in the middle of Jootar town.

“He said the gunmen ordered him to come down from the bus, as soon as my friend came down, one of them went in and drove off, leaving my friend with the other gunmen who were on the motorcycles.”

LEADERSHIP gathered that people from Wukari and Jalingo the headquarters of Taraba State became agitated to know the whereabouts of their loved ones.

Some were visibly seen worried while making phone calls to stop their relatives from traveling on the road.

Efforts to talk to the Chairman of Wukari Local Government Council, Hon. Ismaila Dauda, to confirm the identity of the passengers failed as he did not pick his phone calls nor respond to our correspondent’s messages as at the time of the report.

[Leadership]

Paramount Ruler of Igbomotoru Communities in Bayelsa State, HRH Ayibaikie Aseimighen Ofongo, has narrated how the militant gang currently on the run over the killing of soldiers in Delta State, forced him out of his community.

Addressing reporters in Yenagoa, Bayelsa capital, the monarch said the over the years, the gang, which operated unchallenged, perpetrated criminality in Southern Ijaw local government area of Bayelsa.

Ofongo, a retired army officer, said having served in the armed forces, he could not have kept quiet while militants perpetrated criminality in his domain.

He also commended the military operations in Igbomotoru Communities, saying so far, troops have only gone after the fleeing militant leader and his boys.

He said: “My Community, Igbomotoru, for some time now, have had some internal problems; there is a group that went and brought militants to the community to dissolve the ruling class, and at the same time leading to vandalizing national assets of oil companies in our area, which I opposed. I said if we had any problem with the oil companies, we should apply the normal system of communication so that they can look at those issues, but this advice did not go through with the group.

“And since that time, there have been problems, based on that differences we had. For almost three years now, I have not been allowed to visit my own community. My life was threatened; I had to escape from the community. I only went to the community when I heard about the death of my relations.

“From where I’m hiding, I got telephone calls from both home and from some other relations and friends on what happened at Igbomotoru; what I was told was that military men came into the community, particularly on Igbomotoru ll, Igbomotoru is on both sides of River Sangana. So, when I had this issue, I enquired from sources. I was told there was an Army invasion of the community, I was told a militant leader from Igbomotoru by name Endurance Amagbain went to Delta and some military officers who were there to make peace were shot dead, that was why military invaded our community last Sunday.

“The Army troops that came, they know where the person they wanted was and they went there, and some miscreants who are members of the militant gang came out and wanted to know what was happening in their usual militant way,  and there was opening of fire from the Army, and some of them were killed. So, it was only members of the militant gang that were killed, not the natives.

“I have previously written several petitions to both the presidency, the state government and the security agencies about the activities of this militant gang, and we attended meetings with the governor, we also had time with the oil companies representatives, because when they started, they started with the oil companies and then rolled back to me, claiming I had been deposed and all that, so all those activities were reported to the government, and so many meetings were held by the government and oil companies to resolve that, but the people continued to do what they thought was good for them, until we reached this state. It was my opposition to this militant group that made them force me out of the community.

“As a Paramount Ruler and somebody who has served in the Nigerian Army and retired, I always report any act of lawlessness to the authorities, if not, that means I am involved. Army operation at Igbomotoru Community is just after the fleeing militant gang at Igbomotoru ll, where their leader resides and commit all these crime. In fact, they have not crossed to Igbomotoru 1, but because of fear, people have deserted the entire community.”

Military has done well

“You see the military has done well, what happened to the military, even during my time as a soldier, you cannot go and tempt the lion and you will think he will sit down and begin to look at you, the militant gang went to Delta to kill army personnel and the army came to kill them,  they didn’t move from house to house in Igbomotoru to kill everybody.

“I am not against government taking any action in respect to what has happened, because lives have been lost. It was only houses where the prime suspect in the killing of soldiers staysthat were burnt not innocent people’s houses. That is why I appeal to the federal government to establish army formation at Igbomotoru Community, it will help checkmate the criminality.

“So, I urge the army to continue to be civil as they are hunting for their suspected killers of soldiers, because the community is ready to assist them to ensure that all suspects involved in the dastardly act are apprehended,” he said.

[DailyTrust]

A stampede during an almsgiving zakat for the poor in Bauchi State has led to the death of four people.

The stampede occurred at about 10am at the Shafa Holdings Company plc headquarters along Jos Road, on Sunday.

A 17-year-old identified as Naima Abdullahi, is currently receiving medical treatment at the Abubakar Tafawa Balewa University Teaching Hospital in Bauchi.

Confirming the incident, the Police Public Relations Officer in the state, Ahmed Wakili, said the situation has been stabilized as at the time of filing his report.

Wakili said the police acted swiftly upon hearing the news, adding that the police commissioner encouraged the public to stay composed.

[DailyPost]

Foremost Yoruba socio-cultural organization, the Yoruba Alliance Forum (YAF), at the weekend urged the Aare Onakakanfo of Yorubaland, Iba Gani Adams, the Yoruba nation activist, Sunday Adeyemo, popularly called Sunday Igboho and many others that have been bothered by the recent viral audio content credited to Iba Gani Adams, to sheath their swords and unite to fight the common enemies of Yoruba race.

The leaders of the pan-Yoruba organization made the appeal on Saturday, after reaching out to Iba Gani Adams on the telephone, as part of efforts to ensure peace in Yoruba land.

YAF, in a statement signed by the chairman, Chief Onitolo-Ariyo Adejare, and the secretary, Comrade Adedeji Oluwaseun, described the unity of the Yoruba as the best weapon to fight common enemies.

The YAF chieftains also added that Yoruba sons and daughters, both at home and in the diaspora are worried about the ongoing social media attacks between loyalists of Iba Gani Adams and that of Sunday Igboho.

The group also described those who are sending the viral audio content across the social media platforms as enemies of the Yoruba race, saying that such acts were very libellous because they had intruded into the privacy of Iba Adams and the other person involved in the private discussion. 

“This unlawful act can affect the much-needed unity and peace in Yoruba land and can also expose the race to further attacks by the enemies of the Yoruba.

“The issue that transpired between Iba and his former aides in 2015 as well as the audio content generated from a private discussion in 2021 should not be the clog in the wheel of the progress of the Yoruba race.”

[TheNation]

Several people have been reportedly killed in a clash between rival youths in the Mikang Local Government Area of Plateau State.

It was learnt that many people were also injured during the clash said to have started on Saturday night between Taroh and Motola youths in the locality and lasted till the early hours of Sunday .

The state Commissioner for Information , Musa Ashoms, confirmed the development to The PUNCH in Jos on Sunday .

“It started as a result of dispute over land.

“According to the LG chairman, the land in question cannot even produce six bags of rice, and you know when people are attached to their land, they could go extra mile.

“It is something they could have controlled their nerves, but somehow, it got to a point where others too joined them and houses were burnt down and people were maimed.”

He advised the people to always explore alternative dispute resolution mechanism in resolving their differences and refrain from taking the law into their hands .

When contacted, the state Police Public Relations Officer, Alabo Alfred, said security operatives had been deployed to the troubled area while investigation over the incident continues

“The area is now calm. People are going about their normal businesses,” the PPRO added

[Punch]

A former deputy governor of the Central Bank of Nigeria, Kingsley Moghalu, said those expecting the Naira to be N400 to the Dollar are living in a dream world.

Moghalu made this assertion in a statement via his X handle on Sunday. 

According to him, the exchange rate should reflect its market value in reality.

Moghalu claimed that the Central Bank had created artificiality that it sought to maintain to please economic illiterates in political power at the time.

The economist insisted that artificiality created room for massive arbitrage by speculators which bled the economy.

He suggested that the sooner the country focused on the creation of value-added manufacturing export economy that earned forex beyond oil in real and significant terms, the better.

Moghalu said, “Those who want the Naira to be N400 to the $ are living in a dream world. Even discounting for the negative impact of speculative attacks on the value of the Naira, the exchange rate will (and should) reflect its market value in reality, not the artificiality that the central bank sought to maintain to please economic illiterates in political power at the time.

“That artificiality created room for massive arbitrage by speculators which bled the economy. Nigeria does not (yet) have a productive export economy. That’s the heart of the matter.

“And we do not have $100 billion in foreign reserves. So on what basis would the Naira forex rate return to some fantasy land soon? It will also take time to regain or achieve full investor confidence such as we had when we were there (and the rate was N150-165 to the $.

“The sooner we focus on a painstaking creation of value-added manufacturing export economy that earns forex beyond oil in real and significant terms, the better.

“Key to this is the electricity conundrum in which we are at less than 4,000 megawatts of generation for a population of 200 million for decades now.

“Take power to even 20K megawatts (let’s not talk of 50K for South Africa’s 60 million population or Brazil’s 181K megawatts for a population only slightly larger than Nigeria) and you will see what the Nigerian entrepreneurial spirit is capable of,” he said.

[Vanguard]

President Bola Tinubu says his administration is deploying “detailed strategies” to ensure schools are secure for learning in the country.

In a statement on Sunday, Ajuri Ngelale, presidential spokesperson, said Tinubu welcomed the news of the release of the abducted students of the Government Secondary School Kuriga, Kaduna, and Tsangaya in Sokoto.

The president commended Uba Sani, governor of Kaduna; Nuhu Ribadu, the national security adviser, and the security agencies for the safe release of the abducted Kuriga students.

The president said the dedication towards the safe release of the victims is “critical to optimal outcomes in cases of mass abductions”.

In the early hours of Sunday, Sani announced the release of the abducted Kuriga schoolchildren.

Sani Abdullahi, a teacher at Government Secondary School Kuriga, had said 287 students were missing after the attack on the schools.

On Friday, 15 students abducted from a Tsangaya school in Gidan Baya, Gada LGA of Sokoto regained their freedom.

The students were kidnapped on March 9 when bandits attacked their community.

[TheCable]

Human rights advocate, Femi Falana said official negligence led to death of Nasarawa State University students, who died in a stampede incident that occurred in the institution.

Falana stated this in a statement he made available to Vanguard on Sunday.

The statement reads, “Governor Abdullahi Sule of Nassarawa State was reported to have ordered the distribution of two 7.5 kg bags of rice and N5,000 to each student of the State University at Keffi.

“The distribution of the palliative was scheduled to hold at the state university’s convocation square last Friday morning. As the distribution exercise was not well organised, there was a stampede of thousands of students at the venue. The stampede led to tragedy as many students were injured.

“As the university health centre was ill-equipped to treat the injured students, they were rushed to the Federal Medical Centre in Keffi, Nassarawa State.

“As the injured students were not promptly attended to, two female students were pronounced dead while at least 17 others were left with varying degrees of injuries arising from sofocation at the venue of the distribution of rice. Our thoughts and condolences go to the families and friends of the deceased students.

“According to the state government, the tragic incident occurred “when suspected hoodlums and some misguided students forced their way into the school’s convocation ground to cart away the rice kept at the venue meant for distribution as palliatives to students.”

“But the Vice-chancellor of the University, Prof Suleiman Bala decided to blame the tragedy on the victims of the official negligence. He was reported to have said that “our students were not patient enough to follow the process of accessing these palliatives.”

React to the development, Falana described the death of the students as unfortunate, noting that the authorities of the University failed to draw any lesson from the recent stampede which claimed the lives of seven persons during the distribution of 25kg bags of rice in Lagos by the Nigeria Customs Service.

Falana, the Chair, Alliance on Surviving Covid 19 and Beyond (ASCAB), stated, “No doubt, the tragedy would have been averted if the University management had distributed the 7 kg bags of rice to the students through their departments. Indeed, there was no justification to have assembled thousands of students without a standby ambulance.

“As if that was not enough, the university health centre was not equipped to attend to the injured students. Hence, they were rushed to the Federal Medical Centre in Keffi where two female students were certified dead.”

Falana, however, said, having regard to the facts and circumstances of the tragic incident, the Nassarawa State police command should be directed to investigate the allegations of criminal negligence which led to the unfortunate death of the two students.

He said, “The culprits should be prosecuted without delay. In view of the official statement that hoodlums hijacked the distribution exercise the state government and the university management are required by law to compensate the bereaved families of the two students.”

[OpinionNigeria]

People often ask me, ‘Will, where do you get your jokes?’ I just tell ’em, ‘Well, I watch the government and report the facts, that is all I do, and I don’t even find it necessary to exaggerate. ~ Will Rogers

On an average Nigeria is good, her people are a bunch of good Bananas, only a few rotten, gives the whole bunch a bad look and that particular rotten smell. Nigeria, ideally is one of the best places to live in, it is not a Police State like so-called Western Democracies…In Nigeria you can urinate anywhere and not get fined or arrested, you can get a ladder and climb the Power poles and effect a change of power phases, that is if the problem is not from the nearby power transformer which anybody can repair with dry wood.

In Nigeria, you can set traps inside your compound and catch birds and roast them to taste and not be afraid that you are at Piccadilly Square in the UK and some stern looking cops will harass you for animal rights violation. We still beat kids with cane despite parents that want to be more European than Europeans…

We as a nation need to restore national pride, a lot of us have lost hope in the system, the structure, the leadership, with each passing day, it is becoming obvious that Nigeria may be just an empty plastic cup, too light to hold a cup of coffee cold or hot.

I am rewriting this essay about my beloved nation that I originally wrote 15 years ago because lately I have discovered that I have tried hard to write nice stuffs about my nation but each time I try the truth hits me and I never end up, I criticize a lot and hardly give solutions…my reason, simple…there are enough solutions to Nigeria’s multi-dimensional and hydra-headed problems, enough to fill an American Congressional Library, well prepared by committees, panels, commissions and bodies of experts. Name the field or area and I will refer you to a paper, a report that should ordinarily have solved that problem a long time ago. For example, how many times have we removed subsidies without removing subsidies or is it the Orasanya Report on merging and reducing government bureaucracy by shutting down some ministries and parastatals?

For avoidance of doubt, what happened to the Vision 2010, I was writing this in 2008, by then we were working on a vision 2056 for constant power electricity and it is 2024 now, how time flies and alas we still lack vision of who we are and what we want to be in terms of electricity.

I remember one committee like that with a long name that was supposed to provide palliative measures due to the rise in petroleum prices, till date it died a

natural death. It is another 15 years and we are not only discussing palliatives but looting it with reckless abandon that our students die in stampedes for them.

There have been reports upon reports that if properly handled would have made Nigeria number one in most things if not everything, because if despite all the ills of our society we are still thus there as the most happiest and religious in the world…Then there is a problem.

In recent times, I have watched us be reminded of the successes of Malaysia, a success that was championed and achieved simply because of purposeful leadership, leadership that had the confidence of the governed. That leadership brought about economic prosperity, industrial strength, intellectual pride and dynamism. We have discussed Singapore and for us the only thing that has poured is how our best brains and not so best have become caregivers in the UK and pouring into Canada and other places that were nowhere in the map of economic discussion only two/three decades earlier.

It was only expected that when a nation barely commits one percent of its GDP on education, we would have a collapsed Unity school set up, a crazy university system. We all weep at the situation but no one really thinks how we can have national competitiveness when the level of investment in human capital is abysmally low.

A new Nigeria cannot unfold, with fast paced infrastructural development, rapid push in human resource development, healthcare delivery, when of the approximately Universities and polytechnics enrol almost 2 million students yearly and graduate around 600,000 people, of which barely 5% had a chance of a job, the remaining 95% slowly became an unemployable bunch with redundant qualifications and there is no plan to put a halt to this because truth be told they are formally educated but informally employed, too many graduates fighting for few jobs.

Today’s Nigeria lacks education, health and development with all the wealth, we are breeding terrorists, frustrated young men, sad mothers, senior citizens that daily curse the nation because we have refused to give them their dues.

Isn’t it intriguing and excitingly Nigerian, that this is Nigeria, the rich, poor, and everybody cries and laughs almost at the same time; the difference is the swing of the pendulum.

Being a Nigerian requires a tricky trait, despite the Woles, Achebes, Anyaokwus, Maitamas, Balewas, Ziks, Awos, Sardaunas, and many too numerous to call, there is a distinction to being a Nigerian and wanting to be a Nigerian. The Nigerian big man makes a law, those wanting to be Nigerian or already big men proceed immediately to look for a way to break the law, he explores loopholes and escape clauses, like the Immunity clause used for stealing.

Ordinary Citizens would do it their own way, they would jump queues with no excuse, they would do u-turns on an expressway, stop in the middle of the road to say hello to a long-lost friend without parking…correct them, and they will abuse your dog.

Who wants to be a Nigerian, it takes a lot, you have to be noisy, music is not danceable if it is not loud, big is sweet and good.

How can one understand the Nigerian and want to be one, when in power he loves affluence and will do anything to stay-put. In religious matters, he will fake it; in business, his cheques will bounce. In the civil service forget the noise of ‘servicom’, your files will miss and only reappear at the right price. A Nigerian will ban the importation of lace fabrics, yet his wives, concubines and mistresses will die the day they cannot wear one.

In Nigeria, you need to understand how a complainant can suddenly become a suspect and in the end a witness, yet still land in jail for a crime that was committed against him.

The pain of this essay when it was originally written is that despite all the exhaustive bad traits that we battle every day, Nigerians abound in their millions that want to be Nigerians for the right reasons. And it still has not changed…Those Nigerians are not easily understood because they will not give bribes, all their actions are in line with tradition, society’s good norms and rationality.

They largely are old now and most times reside in rural areas, although a few still stay in urban areas. They are generally good and untribalized, they believe in the principles of live and let live. These Nigerians are neither the bottom power women nor the moneybag men. They strive daily to remain patriotic and committed to the Nigerian dream despite the reality, they are disciplined and are hardworking, and they battle the stark reality that as patient dogs they may never have any bone left.

These sets of Nigerians suffer from the Nigerian experiment because of the larger majority’s inability to curb greed, inability for us to be fair and rational towards other people’s perspectives, opinions, positions and interests. The continuous inability to make sacrifices for the common good, an unwillingness to respect our institutions…like, the abuse of our health and educational institutions in the name of na government property and so it’s nobody’s own.

Our monetized society too has been of more harm than good to us. Do you now understand Nigeria, are you a Nigerian, do you want to be a Nigerian… Almighty Allah You are a God of purpose…why did You create this nation—May Nigeria Win

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