Enoch Adeboye, general overseer of the Redeemed Christian Church of God (RCCG), says Nigeria’s forex rate would have spiralled out of control but for divine intervention.

The naira currently exchanges for N1,730 to a dollar.

Speaking at the Special Holy Ghost Congress in Abuja, Adeboye said his prayers, alongside those of “his people”, mitigated a free fall of the naira. 

The cleric linked the currency’s depreciation to Nigeria’s over-reliance on fuel imports despite being an oil producing nation.

He criticised monies spent on “non-functional refineries”, describing them as a strain on federal coffers and a drain on the economy.

“When you quote me, quote me accurately. We need help — divine help — not human help. If we want restoration, we must first admit something is missing,” Adeboye said.

“Before our president came in, everybody knew that the reason we were having financial problems is the fact that a lot of money was being spent to import petrol.

“How can we be importing petrol when we have this resource in abundance here?

“We spent billions of naira on our refineries, and yet they didn’t work. So, we had to keep on importing fuel,” he added.

Adeboye said the removal of subsidies initially inspired hope but provoked backlash from those profiting from the status quo.

He alleged that the cabal struck back by creating instability — a scenario that worsened the country’s economic woes and accelerated the naira’s depreciation.

“They created problems, and suddenly, the naira began to decline rapidly,” Adeboye added.

“I called on my people to pray, and many joined in. Because the way the naira was declining, if God had not intervened, by now, $1 would be about N10,000.

“But God stepped in, showing us that we need prayers.”

Nigeria has been grappling with its worst economic crisis in decades since Tinubu ended the petrol subsidy regime and floated the nation’s currency in his first weeks on the saddle.

In August, Nigerians took to the streets to protest against hunger and ballooning inflation.

President Bola Ahmed Tinubu has called for a peaceful and transparent governorship election in Ondo State, emphasizing the need for the process to genuinely reflect the will of the people.

In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu urged political stakeholders, candidates, and the electorate to uphold peace and civility throughout the electoral process.

He highlighted the importance of fulfilling civic responsibilities without intimidation or fear before, during, or after the election.

The President reminded all candidates that the mandate to govern comes from the people, stressing that this privilege must be respected and safeguarded.

Commitment to Credible Elections

The President’s statement partly read: “President Tinubu anticipates a democratic process in the state that will genuinely reflect the people’s will and power to freely choose their leaders.

“He commends the Independent National Electoral Commission (INEC) for its diligent preparations, particularly the timely distribution of sensitive materials across all 18 local government areas in the state.

“The President also acknowledges the deployment of security personnel to maintain law and order and appreciates the assurances from the Inspector-General of Police and the Chief of Defence Staff that their personnel will act professionally, adhering to the provisions of the Electoral Act to ensure a credible process.”

Strengthening Democracy

President Tinubu underscored the importance of a free and fair election in consolidating Nigeria’s 25 years of uninterrupted democratic governance. He called on all stakeholders to prioritize the nation’s democratic values and allow the people’s voices to be heard.

“It is in the best interest of all Nigerians to ensure a free and fair election and consolidate our over 25 years of democratic governance,” the statement concluded.

With heightened security measures and INEC’s assurances, all eyes are on Ondo State to deliver an election that will set an example for transparency and respect for the rule of law.

A gas cylinder explosion at a filling station in Jibia Local Government Area of Katsina State has caused damage to six vehicles, according to the state police command.

The police spokesman in the state, Abubakar Sadiq-Aliyu, disclosed this in a statement issued in Katsina on Friday.

He explained that on Friday, a loud explosion was heard by police operatives attached to Jibia Divisional Police Headquarters prompting the Divisional Police Officer to lead a team to the scene in collaboration with military personnel.

“Upon arrival, operatives found a truck loaded with gas cylinders engulfed in flames at Tamal filling station, along Kagadama-Magamar Jibia Road.

“The joint team swiftly deployed preventive measures to protect lives and minimise property damage, successfully quenching the fire.

“Six motor vehicles were significantly affected by the fire incident, but fortunately, no life was lost,” he said.

According to him, the state Commissioner of Police, Aliyu Abubakar-Musa, has directed a thorough investigation to determine the cause of the explosion.

Sadiq-Aliyu explained that further developments will be communicated as the investigation proceeds.

NAN

The National Judicial Council under the Chairmanship of the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, has recommended two Heads of Court for compulsory retirement over judicial misconduct.

The council, at its 107th meeting held November 13 and 14, 2024, recommended the duo of the Chief Judge of Imo State, Justice T. E. Chukwuemeka Chikeka and the Grand Kadi of Yobe State, Kadi Babagana Mahdi, for compulsory retirement for falsification of age.

This was disclosed in a statement signed by the council’s Deputy Director of Information, Kemi Babalola-Ogedengbe, on Friday in Abuja.

According to the statement, the council found that Kadi had three different dates of birth (December 10, January 28 and July) all in 1959, while his actual date of birth was 1952.

The findings of the council also revealed that Justice Chikeka has two different dates of birth: October 27, 1956 and October, 27 1958.

“However, 27 October 1956 appeared to be the consistent date of birth, but in 2006, the Chief Judge swore to an affidavit changing the date of birth to 27 October 1958,” the statement read.

The council also suspended two judicial officers from office for one year without pay and placed them on “Watch-List” for two years.

Specifically, the council suspended Justice G. C. Aguma of the High Court of Rivers State from performing judicial functions for one year without pay and also placed him on a “Watch-List” for two years thereafter.

Likewise, Justice A. O. Nwabunike of Anambra State High Court was suspended from performing judicial functions for one year without pay and placed on “Watch-List” for two years thereafter.

The statement disclosed that the council considered the report of its Preliminary Complaints Assessment Committee, which considered a total number of 30 petitions, and empanelled six committees for further investigation, while 22 were dismissed for lacking in merit, two were sub judice.

The statement read, “The Council also empanelled a committee to investigate all complaints and petitions against Hon. Justice O. A. Ojo, Chief Judge, Osun State.

“The council also empanelled a Committee to investigate all complaints and petitions against Hon. Justice O. A. Ojo, Chief Judge, Osun State.

“The council’s findings revealed that Justice G. C. Aguma committed acts of misconduct by aiding a litigant who obtained a judgment at the FCT High Court, Abuja, and filed a garnishee against judgement debtors in Bori Division of the High Court, Rivers State.

“The council finds that Justice Aguma failed to raise any query as to why the garnishee proceedings were brought to his Court in Bori for a money judgment that could effectively be enforced in Abuja.

“That the judgment was delivered on 15 July 2020, at the High Court of the FCT, while the certificate of judgment was registered at the Bori Division of the High Court of Rivers State on 16 July 2020.

“The council further finds that the speed with which the Hon. Justice Aguma took and granted the order absolute against the judgment debtors showed that he had an interest, especially as he failed to take into consideration the stay of execution of the judgment granted in favour of the judgement debtors by the Bwari High Court, which had been brought to his attention.”

On his part, the council found Justice  Nwabunike of Anambra State to have breached the provision of Rule 3.1 of the Revised Code of Conduct for Judicial Officers of the Federal Republic of Nigeria, 2016.

“He also failed to adhere to the principle of stare decisis from his different interpretation of the word “aspirant” and abused his judicial powers by granting ex parte orders without a Motion on Notice filed along with the Originating Summons,” the statement read.

The UK Home Office has revealed an increase in the monthly proof-of-funds requirement for student visa applicants, raising the amount to £1,483 (around N3 million), effective from January 2, 2025.

This adjustment aims to address inflation and reflect the rising cost of living in the UK.

In an official document, the Home Office outlined that the maintenance level will increase from the current £1,334 per month for students in London to £1,483.

For those studying outside London, the requirement will rise from £1,023 to £1,136 (around N2.4 million).

New Financial Requirements for Student Visas

Under the updated regulations, international students must demonstrate they have adequate funds to cover their living expenses throughout their stay in the UK.

According to the Home Office, this change aligns the financial requirements for international students with those for domestic students, ensuring all students can sustain themselves independently during their studies.

What is Proof of Funds?

Proof of funds is a document that confirms an individual has sufficient financial resources to meet future obligations or complete a transaction without relying on external borrowing.

For student visa applicants, proof of funds is a mandatory requirement, providing immigration authorities with assurance that students can financially sustain themselves while studying abroad.

Failure to present valid proof of funds can lead to visa rejection, jeopardizing study plans.

Acceptable sources of proof of funds include:

• Personal savings
• Family sponsorship
• Scholarships
• Educational loans

Impact on Nigerian Students

Nigerian students represent a substantial proportion of the UK’s international student population. In the 2022/2023 academic year, 53,790 Nigerian students were enrolled in UK universities, accounting for 6.5% of the international student body.

This placed Nigeria behind only China and India in the ranking of international student populations.

However, the increased proof-of-funds requirement is expected to reduce the number of Nigerian students pursuing education in the UK. With the Naira’s persistent depreciation against the pound, many Nigerian families may find it increasingly challenging to meet tuition fees and living expenses under the new rules.

The adjustment underscores the importance of financial preparedness for prospective international students and the need for targeted support systems to enable access to global education opportunities despite economic challenges.

Social Democratic Party (SDP) governorship candidate in Ondo State, Bamidele Akingboye, has called on the Economic and Financial Crimes Commission (EFCC) to go after politicians who brought money into the state for vote-buying.

Bamidele Akingboye, who raised the alarm while speaking with journalists, called on the EFCC to storm hotels in Ijako area of the state to ensure the alleged vote-buying monies are seized.

The SDP candidate said he decided to play by the rules set by the Independence National Electoral Commission (INEC) and expects other candidates and their parties should obey the rules.

“If the EFCC Chairman did not tell us where the money that they brought into Ondo State, Ghana Must Go ( a bag), that they were carrying everywhere inside. 

“We see a lot of money that they are discharging. If they want to do their job, they should go and bust all the hotels in Ijako tonight, they will see a lot of money there. Where did they get those cash from?

“I decided to abide by INEC rules and regulations. If you love me, vote for me. If you don’t love me, if you want to collect money, collect money. But I will not go against INEC regulation, because it is there that if they find you spending money to buy vote is against the law,” Akingboye said.

Speaking on his chances of winning the Saturday governorship election, Akingboye explained that he has been in the race for 24 years because of his desire to liberate his people.

He noted that the Sun in the Sunshine State has not been shining because of bad government. He promised to revive the Ondo‘s economy and deliver the citizens.

“My chances are that I’m the only candidate that Ondo State requires for now, that is one. I’m the only candidate that Ondo State needs. Ondo State is bankrupt already.

“We are just there, down there, and we are supposed to there (up). And I’ve told everybody who cares to know, my 24 years of service in Ondo State, trying to become the governor of Ondo State is not just a joke.

“I’m here to serve my people. I’m here to deliver my people, and I’m here to take Ondo’s sun that is on the floor to shine again,” he added.

The Senator representing Borno South, Ali Ndume, has accused politicians, the International Monetary Fund (IMF), and the World Bank of contributing significantly to Nigeria’s economic woes.

Speaking during an interview on Arise TV, Ndume warned that their actions are pushing the country toward a crisis similar to Venezuela’s.

The senator’s remarks reflect his criticism of external economic policies and domestic political mismanagement, which he believes have combined to worsen the country’s economic challenges.

He emphasized the need for a more self-reliant and locally driven approach to economic reforms, urging leaders to prioritize the interests of Nigerians over external pressures.

He said, “I think so. But you can go ahead, I am here. But let me tell you, this problem that we have in this country is self inflicted. Look at it deeply.

“And you know, the World Bank and the IMF have hands in it. They don’t need to be here for us. My fear is that they are deliberately driving us towards Venezuela. Venezuela has the world largest oil reserve with less population, I think, is about 30 million people. And yet, even now, people are dying.”

Ndume, when told that it wasn’t the IMF that did that, noting that there were internal politics, said, “Now you are saying, you know when we allow ourselves to be managed by somebody that doesn’t know the environment or the condition we are operating, then you are getting it wrong.”