POLITICS
Senate Invites Emefiele over Naira Depreciation
The Senate on Wednesday at plenary resolved to invite the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to educate and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira.
It also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of CBN intervention funds meant to support critical sectors of the economy.
The resolutions were reached by lawmakers after the upper chamber considered a motion sponsored by Sen.
Olubunmi Adetunmbi (APC – Ekiti).The motion was entitled, State of CBN Intervention Funds and Free Fall Of Naira.”
Rising under Order 41 and 51 of the Senate Standing Order, as amended, Adetunmbi decried Nigeria’s economic reality amid an urgent call for “extraordinary measures”.
He said that the CBN through its numerous multi-sectoral intervention funds, provided special funds to support critical sectors of the economy.
He explained that in view of such interventions, it had become necessary to assess the state of implementation and effectiveness of the funds deployed for the purpose.
He recalled that the CBN in 2021, placed an indefinite halt on forex bidding by Bureau de Change operators (BDCS) and importers over allegations of abuse and mismanagement.
He observed that the halt by the CBN resulted in a spike of the exchange rate.
According to Adetunmbi, the two instruments of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) could only serve less than 20 per cent of the total forex demand by travelers and businesses.
He expressed worry that the import and export window meant to serve the forex needs of business giants, “has become a rare opportunity that only a privileged few can access.”
“These and a number of others have contributed to the excessive scarcity of forex in Nigeria today”, he added.
He noted that as at the 26th of July , the exchange rate in the autonomous segment (BDCS) of the foreign exchange market is N670 to one U.S. Dollar and projected to end at N1000 by end of the year based on the current rate of depreciation.
He, advised the Central Bank to take new measures to curb forex scarcity and address the sliding rate of Naira exchange.
In his contribution, Sen. Sani Musa (APC – Niger),faulted the Central Bank’s decision to halt foreign exchange biddings, thereby cutting off the parallel market – Bureau de change operators.
According to him, the attempt by the CBN to control the value of the naira with the continuous exclusion of BDCs would only lead to its further depreciation.
He, therefore, advised the apex bank to rather ensure the regulation and monitoring of the parallel market.
“What CBN used to do was to give out 10,000 dollars to each of these BDCs with a clear directive for it not to be sold above N470 as against the 419 dollars exchange rate.
“But today, nobody is determining where the rate is going and I can assure you we can’t have that solution because we are only importing”, he said.
On his part, Sen.Ahmad Babba-Kaita, said one way to improve the value of the naira was to encourage foreign investments to attract inflow of other currencies into Nigeria.
“The only way we can access the dollar will be determined by other economies and not ours”, he noted.
He, however, attributed the lack of foreign investments into Nigeria on the poor security situation caused by banditry, terrorism and other criminal activities.
The Senate, in its resolutions, called on the CBN to urgently intervene to stop the rapid decline in the value of the Naira vis-à-vis the Dollar and other international currencies.
It also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to conduct an assessment of CBN intervention funds and the declining value of Naira to come up with sustainable solutions(NAN)
POLITICS
INEC Begins Display of Preliminary Voter Register in Delta
From Francis Sadhere, Delta
The Independent National Electoral Commission (INEC), Delta State Office, has announced the commencement of the display of the Preliminary Voter Register for claims and objections across the state.
According to a press release by the Resident Electoral Commissioner, Etekamba Udo Umoren, the exercise will begin on Monday, 15th December 2025 and end on Sunday, 21st December 2025.
The display will take place at all the 25 Local Government Area offices of INEC in Delta State between 9:00am and 3:00pm daily.
INEC explained that the exercise is in line with the Electoral Guidelines and is aimed at correcting any anomalies that may have occurred during the recent voter registration exercise.
The Commission noted that the process is essential to producing a credible and reliable voter register, which remains a key instrument for conducting free, fair and credible elections.
The Commission urged eligible voters in the state to seize the opportunity to visit INEC offices in their respective local government areas to confirm that their names and personal details are correctly captured in the register. Voters were also encouraged to report cases of omission, errors in spelling, or any other discrepancies.
In addition, members of the public were advised to raise objections to the inclusion of names of deceased persons, underaged individuals, or any other doubtful entries found in the register.
INEC reiterated its commitment to electoral integrity and called on all Deltans to actively participate in the exercise as part of their civic responsibility.
The Commission concluded the notice with a call to action, encouraging eligible citizens to register and participate in the electoral process.
POLITICS
Gov Adeleke Didn’t Join APC Because Osun People Already Hated the Party – Jackson Ojo
…Says Defectors to Ruling Party Will Regret
By Mike Odiakose, Abuja
A former chieftain of the All Progressives Congress (APC), Dr Jackson Lekan Ojo has given further insight into why governor Ademola Adeleke chose the Accord Party instead of the APC when he left the Peoples Democratic Party (PDP).
All the governors that dumped the PDP had detected to the ruling APC, including governor Simi Fubara of Rivers State who joined the party last week.
Speaking at the weekend, Dr Jackson Ojo said the people of Osun State prevailed on Governor Adeleke not to join the ruling APC when it became apparent that there was no point in remaining in PDP over the festering crisis in the PDP.
According to him, the people of Osun State already have deep hatred for the APC and joining the party was never an option for the governor.
Dr Ojo maintained that the performance and achievements of Governor Adeleke is his biggest selling point ahead of campaign for his reelection and the people of Osun State will troop into the Accord Party with him.
“Governor Adeleke trusted himself. He trusted his performance and achievements as governor of Osun State that is why he crossed over to a relatively unknown political party, the Accord Party. All of us have been talking to our people in Osun State to give him maximum support. I have featured of recent at least three times in Osun Broadcasting Corporation to talk to our people. I have been discussing about this, I have been contributing.
“I was one of the people that told the governor to go to Accord Party. I told my governor you don’t need to go to APC because the people of Osun State already hated the APC. I told him to go to any other political party, go to APGA, go to Accord Party because of your performance it will make everybody follow you. And he is going to win the election.
He added that the PDP is already a dead party and that is the reason gales of defection have been hitting the party.
He, however, warned that politicians who are defecting to the APC will regret it as they will be denied the automatic ticket that was used as bait to lure them into the party.
“I don’t think there is any miracle that can resurrect PDP today because they are already in the grave and it just to cover the earth on them. I don’t blame anybody crossing from the PDP because the party is already factionalized. But why are they all going to the APC, the APC is over saturated now. There are persons in APC before that have been fighting.
“You know I belonged to this party before and I know their modus operandi. This is a party that will tell you to go and queue and wait for your time because some people are already working before you came. APC is not a party you just cross to and they give you ticket the second day.
“When my brother who is a member of the House of A Representatives decamped from the PDP to the APC I told him it is good to decamp from the PDP but for going to the APC you are going to regret it. They promised them that they are going to give them automatic ticket but at the end of the day he went and picked the membership card but they called them and told them that crossing to the APC does not mean you are going to have automatic ticket. I hope it will not happen to Simi Fubara in Rivers State.”
Speaking on cold war in Rivers state between Governor Fubara and Lawmakers in the State, Dr Ojo declared that the loyalty of the Lawmakers should be to the people of Rivers State and not to the FCT Minister, Nyesom Wike.
“Former governor Nyesom Wike did not give life to the members of the House of Assembly that are loyal to him. Whatever he must have done for them the governor is there today and he could do better.
“The law is already there in place. Nobody should teach the governor how to settle with these people (Lawmakers). These people are not stones, they are not abstract. They are people you can call on phone, they are people you can meet. You don’t need any other person or intermediary. You have direct access to them and they have direct access to you.
“He should deploy more diplomatic ways and he has to settle with them.
“The members of the House of Assembly don’t need to be loyal to the governor, they just have to do their work according to the dictates of the law. Then the governor too has to do his work according to the dictates of the law. We are greeting or not greeting does not matter.
“What is loyalty? Loyalty of the governor and loyalty of members of the House of Assembly is to Rivers people. Greeting or no greeting, when it is time for the governor to send Bill to them he will send it, they will study it holistically and if it is for the benefit of the people of Rivers State they should approve it.
Reacting to the defection of Governor Fubara, Dr Ojo said: “Fortunately or unfortunately I am not one of his consultants. Possibly he must have consulted with his loyalists. I monitored his statement when he said those of you that suffered with him here and there that now we are going to the APC. He knows the best why he decamped to the APC.
“Decamping to APC does not matter anything to me because a political party is just a vehicle. Every achievement of Fubara in Rivers State today is not because he belonged to the PDP. If all his co-travelers are well contacted and they are well informed that the situation will not boomerang against them, then I say kudos to them, congratulations to them.
“But I hope whatever chased them out of PDP will not chase them out of APC.”
POLITICS
Reps Push for Lower Air Fares, Target Airport Charges, Taxes
The House of Representatives has called on the Federal Government to slash airport charges by 50 per cent and offer tax breaks to aviation companies to make flights cheaper during the festive season.
The call was sequel to the adoption of a motion by Rep. Obinna Aguocha (LP-Abia) at plenary on Thursday.
Aguocha had earlier moved the motion, stating that airline ticket prices have skyrocketed, affecting not just travellers but also air ambulance costs and, by extension, people’s lives.
He noted that the steep rise in airline ticket prices is currently affecting millions of Nigerian families.
The lawmaker said the Christmas season is traditionally a time for reunion, reflection and joy, saying this tradition is threatened by the weight of economic challenges that have made travel increasingly prohibitive.
“The soaring costs of domestic air travel have created a barrier preventing many from returning to their ancestral homes where shared laughter and family connections are meant to thrive and improve our self-worth.
“The myriad challenges faced by airline operators, ranging from high JetA fuel prices to excessive currency fluctuations, I implore this House to consider the broader implications of their pricing strategies.
“The insatiable pursuit of profit should not come at the expense of the cultural bonds that define us as Nigerians.
“By temporarily reducing fares during this critical period would demonstrate a commitment to social responsibility and national solidarity.
“Such an act would reaffirm to all citizens that the journey home is a fundamental right, accessible to every Nigerian, regardless of financial status,” he said.
The lawmaker emphasised that Nigerians are at a critical juncture, requiring urgent intervention.
He appealed to the government to show similar resolve in supporting the aviation sector as it did with road transporters last year.
According to him, the aviation sector plays a critical role in both family reunification and national connectivity.
The House called on the Central Bank of Nigeria (CBN) to prioritise the allocation of foreign exchange at concessionary rates for airline operators.
Deputy Speaker, Rep. Benjamin Kalu, ruled that the House Committee on Aviation should meet with airline operators and the Aviation Minister, reporting back within a week for further action.

