President/Chief Executive of Dangote Industries Limited, Aliko Dangote has been conferred with the prestigious award of the National Order of the Lion by President Macky Sall of the Republic of Senegal. The National Order of the Lion Award is the highest civilian laurel to be bestowed on any individual in the West African country. The award ceremony will be held, in Senegal on Friday.

This highest recognition and honour was said to be in appreciation for the services Dangote has rendered to the Republic of Senegal as well as a tribute to his business acumen, philanthropy, and developmental projects, which are capable of transforming Africa as a whole. The Dangote Group has a Cement Plant in Pout, Senegal.

President Bola Ahmed Tinubu has sent a congratulatory message to the frontline businessman on the award conferred on Dangote by the Senegalese Government.

In a press statement, signed by the Special Adviser, Media & Publicity to the President, Chief Ajuri Ngelale, President Tinubu applauded the industrialist for his enterprise and ingenuity, creating jobs and opportunities for many in Nigeria and across West Africa, as well as contributing to their economies, which the award further affirms. The President commended Mr. Dangote and wished him the very best in his endeavours.

Recall that, just recently, Dangote was also conferred with the Commander of the Order of Merit of Niger award by the President of the then Republic of Niger, His Excellency Mohamed Bazoum in Niamey. 

In the same vein, Dangote also bagged Nigeria’s second highest national honour, Grand Commander of the Order of the Niger (GCON), after the Grand Commander of the Federal Republic (GCFR) - an award which is only reserved for Nigerian Presidents and Heads of State. Dangote became the first individual outside government to receive this national honor. In the past, the GCON honour has only been awarded to Vice-Presidents, Chief Justices of the country, and Senate Presidents.

The Church of Nigeria Anglican Communion has nominated Sir Folu Olamiti for the prestigious Church of Nigeria Award for Faithfulness in Kingdom Service as the church celebrates  45th Anniversary of the Province of Church of Nigeria that was inaugurated on 24th February 1979.
 
In a letter signed by the Church of  Nigeria Anglican Communion Archbishop Metropolitan and Primate of all Nigeria, Most Revd Henry Ndukuba, the Church stated that the honour “ is in grecognition of your unwavering dedication, exemplary leadership and significant contributions to the church of Nigeria Anglican Communion and Christian community at large. 
 
“ Your life and ministry have left an indelible mark on the hearts of many, and this award is a small token of our immense appreciation for your tireless work in the Lord’s vineyard. 
 
“ Your presence at this event would not only grace the occasion but also inspire and encourage others in their faith and service. 
 
“The presentation of the award will take place during the opening ceremony of the Standing Committee of the Church on 7th of February 2024, at the Cathedral of the Ascension, Boji  Boji, Owa in the Diocese of Ika, Delta State, at 10 am.
 
Signed 
Anayochukwu Agbo

The new minimum wage demand rose from N200, 000 a month to N435, 500 because of the economic realities in the country.

The Chairman of the Trade Union Congress, Enugu State, Comrade Ben Asogwa, stated this in Enugu on Thursday in an interview.

Asogwa said the value of naira to a dollar when the N200, 000 was the benchmark had doubled, hence the demand for an increase from the earlier amount requested.

He said, “Let’s face the economic realities. If you look at the present monetary value, and what it was then, you will understand that the increase is in order. We are also trying to make the government understand how bad the economy has become. They should also evaluate what workers in other parts of the world earn compared to Nigeria.

“Nigeria is an importing nation, including importing the finished products of our natural resources exported in raw forms. Those in government have so much bastardised the economy. When we pegged the minimum wage at N200, 000, a dollar was around N700. But today, it is over N1400. The government should realize the injuries it has done to the economy.”

He said the review of the minimum wage was in accordance to the law, adding that, “By law, the minimum wage is reviewed every five years. It was last reviewed in 2019, hence this year is statutorily the year for another review.”

On how the new minimum wage would impact on non-civil servants, C Asogwa said, “The wage is not only for those who are government workers. The committee constituted for the negotiation comprises representatives of federal, state and the private sectors. It is also noteworthy that the economy revolves around workers’ salaries. When workers are paid well, traders sell better and the value chain continues.”

He blamed the dwindling of the nation’s economy to the removal of fuel subsidy without ensuring that Nigeria’s refineries were optimally functional, government’s inability to stabilize the dollars against the naira, and the country’s lack of production capacities.

He, however, admitted that the proposed N435, 500 new minimum wage is not static as it could be reviewed by the committee currently meeting with the federal government on the matter.

Vice President Kashim Shettima has voiced his frustration at some Nigerians whom he said were celebrating the rapid fall of the nation’s currency, the naira, calling them “clowns.”

Shettima who is never short of expletives and is usually in a combative mood made the statement while speaking as a representative of the President, Bola Tinubu at an event organised by the Economic and Financial Crime Commission (EFCC) on Wednesday in a video shared by Symfoni.

The naira has been rapidly depreciating in an astonishing manner with the Central Bank of Nigeria (CBN), instigating frantic monetary policies in its bid to stem the tide due to scarcity of the greenback.

Africa’s biggest economy is experiencing new challenges putting the naira under pressure since Bola Tinubu, the president, came to power on May 29, 2023.

The rate at the official window closed above the parallel market, often referred to as the ‘black market’, on Tuesday at the close of trading, raising concern on the direction of the country’s economy.

At the so-called Nigerian Autonomous Foreign Exchange Market (NAFEM) window, the naira was 1,482:57 per dollar according to the data published by the FMDQ, which calculates the exchange rate.

That was above the black market rate which closed at 1,475 raising serious alarm and frantic apex bank intervention.

And on Wednesday, the naira rose above N1,500 before retreating to above N1,400 as of Thursday and above N1,300 on Friday according to reports by FMDQ, following CBN intervention.

Shettima did not take kindly to social media reports which he said were not only disheartening but disenchanting.

He descended on those he said were celebrate the fall, saying, ‘”It is not only disheartening and disenchanting, but also heartbreaking that yesterday when the Naira culminated to N1,500 to the dollar, instead of us to coagulate into a single force and salvage our nation economy, sadly, some clowns are celebrating on Twitter of an impending implosion of the Nigerian economy.”

The Nigerian Government has bought 12 AH-1Z Viper attack helicopters and other military arms to bolster the West African nation’s military capabilities.

The United States Department of Defense made this known in an article published on Thursday.


The contract, valued at $1 billion, includes the state-of-the-art helicopters and 32 mission computers provided by Northrop Grumman, with a separate contract valued at $7.7 million awarded in December.

Nigeria has been grappling with complex security challenges for years, including the Boko Haram insurgency in the northeast and banditry in the northwest.

This multi-pronged crisis has displaced millions and claimed countless lives, making the purchase of the helicopter, scheduled for completion in June 2024, a significant upgrade to Nigeria’s military assets.

The sale follows the US State Department’s approval in April 2022 of Nigeria’s request for the helicopters, which includes guidance systems, night vision imaging systems, and extensive training.

This military package aims to enhance Nigeria’s security infrastructure, contribute to shared security objectives, and promote regional stability. The Defense Security Cooperation Agency of the United States highlighted the importance of this sale in supporting the foreign policy goals and national security objectives of the United States by improving the security of a strategic partner in Sub-Saharan Africa.

The AH-1Z Viper, a multi-role attack helicopter, is designed for various missions, including reconnaissance, escort, and strike operations. This addition is part of Nigeria’s broader effort to address multiple security challenges within its borders, ranging from Islamist insurgency to widespread banditry.

Nigeria’s ongoing military procurement strategy includes acquiring m-346 attack aircraft, T-129 ATAK helicopters, Agusta 109 Trekker multi-role helicopters, and Chinese-made Wing Loong II drones, among others.

The Economic and Financial Crimes Commission (EFCC) has clarified a statement made by its chairman, Ola Olukoyede, that a religious sect was laundering money for terrorists, saying the group referred to was neither a church or mosque in particular.


The anti-graft agency said those subjecting Olukoyede’s revelation to sinister interpretation were on to mischief and should be ignored.

EFCC spokesperson, Dele Oyewale, in a statement on Thursday, with the titled “EFCC clarifies Its chairman’s disclosures about alleged money laundering by religious leaders,” said: “The groups fingered by the EFCC chair are religious sects, not a church or a mosque.


“Those subjecting this disclosure to sinister interpretation are on to mischief and should be ignored. The EFCC’s boss is focused on his assignment of tackling all shades of economic and financial crimes and would not be distracted.”

Recall that at the commission’s public engagement on ‘Youth, Religion and the Fight Against Corruption’ on Wednesday, January 31, 2024 in Abuja, the chairman had frowned at the conduct of some religious sect leaders whom he accused of being complicit in money laundering.

He had said: “As I’m standing before you, there is a matter we are handling, a pyramid scheme that involves over N30 billion fleeced from Nigerians.

Along the line, some people died, some victims collapsed and all of that. We were able to trace over N7billion to a particular religious body and I said, write a letter to the leader of that religious sect, and we did

“The next thing we saw was a restraining order. We got a restraining order restraining us from recovering the money. Meanwhile, people have died along the line. Money traced directly to your body, and that is what we are battling. Of course, we have appealed, and this is the situation that is facing us, religious leaders.”

He further said, “when I was the chief of staff, we investigated an issue of money laundering, somewhere in this country. There is a particular religious sect that laundered money for terrorists. These are the problems we are battling with.”


However, Oyewale said, “Olukoyede neither mentioned a Church, Mosque nor any particular religious entity. Unfortunately, his comments have been twisted with mischievous connotations.”

President of the Senate, Senator Godswill Akpabio, has urged the German government to not deport about 12,000 illegal migrants into Nigeria, saying such a move will aggravate security challenges in the country.

 

Akpabio made the call on Wednesday when the German Ambassador to Nigeria, Annette Gunther paid him a courtesy visit in Abuja.

 

Gunther, in her address, said both Germany and Nigeria are large economies in Africa and Europe respectively, and as such can partner.

“We are honoured to be here today. Nigeria and Germany being the largest economies and population in their respective continents, need to come together in their peoples’ interests. Nigeria is Germany’s second largest trading partner in sub-Saharan Africa,” the German envoy said.

In his own address, Akpabio noted that Nigeria is grappling with insecurity and called on Germany to work in synergy with Nigeria in the areas of security and power, to enhance the socio-political development of Nigeria.

The Senate President, then, urged Gunther to help Nigeria, Africa’s largest population in fighting insecurity as well as strengthening its economy.

He begged the German government to halt its move of deporting 12,000 illegal migrants of Nigerian extraction, as this can create more insecurity in the country.

“We also have a problem of infiltration from other countries. We require assistance from Germany in the area of security because when we had the Boko Haram issues in the North East, it might not have escalated to the level it did if we had the support of major players like Germany and others,” he said.


“It was very difficult for us to get support from America at that time, maybe due to what they read on social media concerning us. If developed countries stop listening to social media, they would be willing to assist developing countries.


“The recent decision of Germany to deport illegal Nigerians back to the country numbering 12,000 is something you have to look into for us, because of its security implications. As a result of the current political situation in Mali, Niger, and Burkina Faso, almost every black person in Germany, would claim to be a Nigerian because they don’t want to return to crises prone countries.

“Dumping 12,000 illegal immigrants in Nigeria would lead to the escalation of insecurity in the country. There is, therefore, the need for your country to allow our immigration officers to assess, who exactly is a Nigerian amongst them. If they allow them in here, without any kith and kin and they have to survive, the result would be nothing but militancy or insecurity,” Akpabio added.

The depreciation of the naira against the United States dollar by 55 per cent at the official foreign exchange market has led to a commensurate depreciation in airfares on international routes in Nigeria, according to findings by The PUNCH.

The naira had fallen from approximately 900/dollar to over 1,400/dollar on Monday after the FMDQ Exchange, which records data the nation’s official exchange rate, reviewed its methodology for calculating the rate.

The review came after the Central Bank of Nigeria accused approved foreign exchange dealers of reporting false figures.

However, barely 24 hours after the movement of the official exchange rate, international airlines operating in Nigeria moved the exchange rate for pricing their tickets to from about N900/dollar to N1,421/dollar.

The development led to approximately 55 per cent in international airfares on Nigerian routes.

Findings by our correspondent on Wednesday showed that ticket prices on Lagos-London-Lagos, Lagos-New York-Lagos, Lagos-Johannesburg, Lagos, among other top destinations had increased commensurately.

The President of the National Association of Nigerian Travel Agencies, Susan Akporiaye, who confirmed the sharp increased, said the development would compound the woes of travel agencies.


“We have been feeling the pinch for a long time, and the situation is just getting worse. People who are traveling are not doing so for fun; they are traveling for serious business like medical or even education. It’s no longer about leisure,” Akporiaye told The PUNCH.

Akporiaye explained that travelers were reluctantly parting with money, and given a choice, they wouldn’t pay at all.

“For instance, an air ticket that used to cost $1000 has now surged to N1.5m. The financial strain is a necessity for travelers, forcing them to squeeze their budgets.”

She said the industry operators empathised with their situation, with some passengers resorting to appealing and offering collateral just to pursue their objectives and travel.

The president said the prices would undoubtedly decrease, adding that, “I am optimistic. It’s not the fault of the airlines; rather, it’s a reflection of the country’s economic situation.”

The NANTA leader said at the moment there was no noticeable difference between the rates in the black market and the official window of the forex market.

As such, she advised airlines to open up lower inventory options to encourage travelers already financially burdened.


“I suggest that airlines contemplate offering lower inventory options, enabling customers to access flights for maybe N1m. This customer-centric approach recognises the financial constraints faced by many travelers.

“The higher inventory, nearing almost N5m, shows variations with some options open while others remain closed. It’s crucial to emphasize that airlines are not responsible for setting the exchange rate.”

Price checks by The PUNCH revealed that the average airfare ticket to some of the high-traffic international destinations like London cost N2.77m; Dubai N2.65m; New York N3.2667m; and Johannesburg N3.05m.

For the Lagos-Johannesburg-Lagos route, depending on the travel date, Africa World Airlines charges N2.7m, while Turkish Airlines sets the price at N3.4m. The airfare for a round-trip from Lagos to Dubai is N2.3m with Turkish Airlines, and N3m with Lufthansa.

An agent at Travel and Tours Limited, Maureen Chimaobi informed The PUNCH that the naira’s exchange rate of naira to dollar is getting worse for travelers.

“As of Monday, the exchange rate was $1 to N1450. I don’t know how much it sold today..”

“This ugly development is no longer only limited to the aviation sector, prices of goods and services have generally gone up. Even local commodities are not left out.”


On June 14, 2023, the naira fell signficantly following the decision to allow the currency to fluctuate freely, leading to a significant drop in its value. Since then, airlines and passengers have continued to struggle to bear the surging air ticket prices.

Despite the currency woes, our correspondent could not verify if there is any data to support that travel demands in Nigeria have dropped.

The International Air Transport Association reported that African airlines’ annual traffic rose 38.7 per cent in 2023 versus the prior year.

“Full year 2023 capacity was up 38.3 per cent and load factor climbed 0.2 percentage points to 71.9 per cent, the lowest among regions. December 2023 traffic for African airlines rose 9.5 per cent over December 2022.”

The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said the Federal Government’s directive to the Central Bank of Nigeria to take over the responsibility for crude oil sales proceeds from the Nigerian National Petroleum Company Limited is illegal.

President Bola Tinubu had, on Monday, reportedly directed the CBN to assume the responsibility for crude oil sales proceeds from the NNPCL. Consequently, NNPC is expected to submit the receipts for crude oil sales to CBN for vetting and documentation.

Reacting, Atiku in a statement, Thursday said Tinubu’s directive undermined the operational independence of the national oil company.

“Without prejudice to the possibility of any good that was intended in the decision of the Federal Government to make the Central Bank of Nigeria take over the responsibility for crude oil sales proceeds from the Nigerian National Petroleum Company Limited, it must be clearly stated that the action is not legal in its application, he stated.

The former Vice President who noted that little has been communicated to the public about explaining details of the decision, declared that “Whatever may be the merit of the new arrangement, the presidential directive is a violation of the legal status of the NNPCL.”

Atiku stated “It is an arbitrary order capable of undermining the operational independence of the NNPCL.

“By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria.


“This is an unprecedented act, without any legal or ethical basis. It is also a violation of the principle of due process in public administration. State-owned enterprises are not subject to such arbitrary orders and have full control over their finances within the confines of their respective establishment laws.

“The NNPCL is a creation of the Petroleum Industry Act 2021 (PIA), which was signed into law by the President of the Federal Republic of Nigeria on 16 August 2021.

“The PIA makes extensive provisions for the formation, structure, governance, and operation of the NNPCL as an independent limited liability company in Sections 53 to 65 of the Act.

“The government must, therefore, respect the provisions of the law and allow the NNPCL to run as an independent company based on sound commercial objectives and in line with international best practices and standard principles of corporate governance.

“Only then would the new NNPCL grow into a formidable institution with track records, requisite technical and financial capacity, and readiness to operate in public space.”

The former vice president said any attempt to undermine the operational independence of the NNPCL will be a hindrance to any chances of attracting investments and attaining global relevance in the Petroleum Industry.

The statement read in part “Let it also be stated that the Central Bank Act 2007 does not confer on the Central Bank of Nigeria, any responsibility for vetting the transactions of, or formulating and maintaining the internal controls and internal audits in state-owned enterprises, public or private.


“The CBN should be allowed to perform its core functions as provided in the extant law. To enhance transparency and accountability in the operation of the NNPCL, its bank accounts for crude sales proceeds (for example at Morgan Stanley) and the entire crude sales conversion circle can be trailed by Nigeria Extractive Industry Transparency Initiative (NEITI) and CBN.”

In a passionate appeal during his 80th birthday celebrations and book presentation in Abuja, Cardinal John Onaiyekan, the former Catholic Archbishop of Abuja, emphasized the crucial role of religion in fostering peace among citizens.

The cardinal’s remarks highlighted a vision of religion as a force for unity and reconciliation, countering the narrative that it often serves as a catalyst for conflict.

Cardinal Onaiyekan, renowned for his contributions to interfaith dialogue and peace-building efforts in Nigeria, expressed his contentment with the growing discourse on the necessity of peace for national progress.

“The country cannot make progress without peace in place,” he stated, underscoring the indispensable need for harmony in fostering societal and national development.

Drawing on his extensive experience in religious leadership, Cardinal Onaiyekan pointed out that religion, when presented correctly, has the potential to be a powerful tool for promoting peace.

Onaiyekan said, “They even blame religion for our situation. But my position is that true religion must be about peace.

“Whatever you do, even if you shout the name of God a thousand times, and you are hurting your neighbour and killing the innocent, that is not religion.

“If religion is presented in a way that is not peaceful, then it cannot succeed in bringing the peace we expect. Many talk religion but are talking war and conflict.”

The Senate President, Godswill Akpabio, who spoke at the event said Onaiyekan’s unwavering commitment to justice, compassion, and unity has touched countless lives and inspired generations.

He said through the former archbishop’s unfaltering faith and dedication, he became a “beacon of hope, guiding his flock with love, compassion and unwavering integrity”.

“Cardinal Onaiyekan’s leadership and ministry have been marked by a resolute pursuit of justice and equality. In the face of injustice he has been a tireless advocate for the marginalised and the voiceless.

“It is not just his actions that inspire us; it is his words that resonate in our hearts. His Eminence possesses a rare gift of eloquence and a profound ability to unite people from all walks of life.

“His words have the power to heal; to bridge divides, and to ignite the flames of hope in even the darkest of times.

“His sermons have touched the hearts of millions, reminding us of our shared humanity and the inherent dignity that resides within each and every one of us.”

Born in Kabba, Kogi on January 29, 1944, Onaiyekan was the archbishop of Abuja from 1994 to 2019 and was ordained a cardinal on November 24, 2012, by Pope Benedict XVI.