Nigeria’s external reserves recorded an increase of $424.68 million between August 30 and September 10, highlighting an improved financial outlook for the country. Data sourced from a report by the Central Bank of Nigeria and analysed on Thursday showed the rise in the country’s foreign exchange reserves. The reserves, crucial for stabilising the naira, financing imports, and managing external obligations, rose from $36.305bn on August 30 to $36.730bn by September 10, representing a 1.17 per cent increase over the 11 days. External reserves are foreign-denominated assets held by a central bank to back liabilities and influence monetary policy. However, a…
Author: UZDO Media
An Abuja-based lawyer, Maxwell Okpara, has dragged the Federal Government before a High Court in Abuja, to challenge the alleged tenure elongation of the Inspector General of Police, Kayode Egbetokun. Opara, in the suit marked FHC/ABJ/CS/342/2024, dated September 9 and obtained by our correspondent on Friday, sued Egbetokun, the Nigeria Police Force, Nigeria Police Council, President Bola Tinubu, and the Federal Civil Service Commission as 1st to 5th defendants respectively. Egbetokun who was born September 4, 1964, clocked the mandatory retirement age of 60 this year according to the Public Service rule and is expected to have left office. He…
The Bayelsa State Governor, Douye Diri, has called on the management of Oando Energy Resources Nigeria Limited, which recently acquired the Nigerian Agip Oil Company, to prevent oil spills and address issues related to employment, contractual benefits, jobs, and environmental pollution in the state. Diri, according to a statement by his Chief Press Secretary, Daniel Alabrah, on Friday, stated that addressing the issues raised is the only way the oil company can end the strained relationship between oil firms and their host communities. He emphasised that the company must accept both the liabilities and the assets of the oil firm…
As Nigeria continues to grapple with the aftermath of devastating floods in Maiduguri, Borno State, and other parts of the country, the Federal Government has issued an urgent warning about impending flooding along the Niger and Benue rivers. The Minister of Water Resources and Sanitation, Prof. Joseph Utsev, issued the alert in Abuja on Friday during a press briefing on the flooding situation in Maiduguri. He warned that a large volume of water was flowing through the rivers down to the Niger Delta region, stressing the need for heightened vigilance and proactive measures, particularly in southern Nigeria, to mitigate the…
No fewer than 13 kidnapped students have been rescued by soldiers deployed for counter-terrorism operations in Kaduna State. The rescued students comprise six males and seven females. A statement on X by the Nigerian Army on Friday said the students were rescued after a fierce gun duel with terrorists at Chigbolu village, Kachia Local Government Area of Kaduna State. The Army also said dangerous weapons were also recovered from the terrorists during the operation. The post read, “In aggressive offensive operations against terrorism and insurgency, Nigerian Army troops have obliterated yet another terrorist stronghold, successfully rescuing kidnapped students, and seizing…
Parties may pay N20,000 per vote EFCC, INEC warn against inducements There are indications that the leading political parties in the Edo governorship election are ready to outdo one another in vote-buying to win the poll scheduled for next Saturday. Our correspondents gathered that the parties had started amassing “war chests” in a desperate bid to compromise voters. A highly credible source said the Edo poll could set a new record for vote-buying in the history of elections in the country. “A vote could go as high as between N15,000 and N20,000. There are plans by agents of some of…
Oil marketers have confirmed that they will start lifting Premium Motor Spirit (petrol), from the Dangote Petroleum Refinery next week. While some revealed that they had started sending trucks to the Lagos-based multi-billion dollar plant to load products from Sunday, others stated that their tankers would hit the refinery any day from next week. It was also gathered that some dealers are expecting imported petrol before the end of this month. Saturday PUNCH gathered on Friday that the vessels of some major marketers would arrive in the country in the next 10 days. Although the President of Dangote Group, Alhaji…
A high-level Federal Government delegation visited Yobe State on Friday to express sympathy and solidarity following the recent insurgent attack on the Mafa community. The delegation, led by the Minister of Finance, Mr Wale Edun, conveyed President Bola Ahmed Tinubu’s message of condolence to the government and people of Yobe. In a statement signed by the Director General of Media and Press Affairs to the Governor, Mamman Mohammed, Edun stressed that the security of lives and property remainsa top priority for the Tinubu administration. “The government is committed to revamping the economy and attracting both local and foreign investors to…
Lionel Messi is set to return to action with his club Inter Miami on Saturday after spending over two months out with an ankle injury, Miami coach Gerardo Martino said on Friday. “Yes, he is fine,” Martino said before training Friday. “He trained (Thursday), he is in the plans for the game. After training we will figure out the strategy for him, but he is available,” added the Argentine. Inter Miami, who lead the Eastern Conference and are top of the overall standings, host the Philadelphia Union on Saturday. Messi injured his right ankle during the final of the Copa…
The Chief of Defence Staff, Gen Christopher Musa, has restructured the operations in Zamfara State to curb the activities of bandits. Musa stated that the operations have now assumed a theatre command status, with General Officers Commanding serving as component commanders. He explained that this development aims to ensure better collaboration and control between security agencies.A statement on Friday by the Director of Defence Information, Brig Gen Tukur Gusau, indicated that Musa made these remarks during a visit to the Zamfara State governor. Gusau also noted that the Chief of Defence Staff revealed the new operational code name is now…