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Naira Further Gains by 0.78% Against Dollar at Official Market
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The Naira further appreciated at the official market on Wednesday, trading at N1,510.
72 to a Dollar.Data from the FMDQ Security Exchange official forex trading platform revealed that the local currency gained N11.96.
This represented a 0.78 per cent gain, compared to the trading figure on Tuesday, when the Naira closed trading at N1,522.
68 to the Dollar.Trading on the Investors and Exporters (I&E) Forex window on Wednesday, recorded a high of N1,514.
00 and a low of N1,504.00.The Naira has enjoyed relative stability against the US dollar since Dec. 2024, when the Central Bank of Nigeria’s (CBN) introduced sustained sweeping reforms.
The apex bank on Tuesday in Abuja, introduced more measures, leading to additional health for the local currency.
The apex bank approved waivers on the 2025 annual license renewal fee for all existing Bureau De Change (BDC) operators.
CBN also unveiled the Nigeria Foreign Exchange (FX) Code, aimed at sanitising the banking industry to promote ethical conduct.
The code, which is part of CBN’s ongoing reforms, is to sanitise the market to drive transparency and good governance, in line with global best practices.
Dr Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), in an interview on Wednesday, praised CBN for the waiver for his members.
Gwadabe called for support and compliance to CBN’s ongoing reforms, resulting in sustained stability of the local currency.
He also appreciated the CBN’s unveiling of the Nigeria Foreign Exchange (FX) Code, designed to promote ethical conduct among dealers in the market.
“It will address issues such as opaqueness in transactions, rate wars among participants, and lateness in submitting returns on spot transactions,” Gwadabe said. (NAN)
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APC Directs Council Bosses in Osun to Shun Secretariats
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Mr Tajudeen Lawal, Chairman of the All Progressives Congress (APC) in Osun, has directed the party’s local government chairmen and councillors to vacate their council secretariats.
The directive was issued in a statement by the party’s Director of Media and Information, Kola Olabisi, on Tuesday in Osogbo.
Tajudeen said the directive was a sign of respect for Aderemi Abass, a former chairman of Irewole Local Government Area, who was killed in Ikire on Monday.
He instructed them to comply with the order until further notice.
Lawal, describing Abass as a peace-loving man, condemned his killing as inhuman, wicked, and callous.
He commended the council chairmen for adhering to the Court of Appeal’s ruling.
Lawal appealed to the police to do everything possible to apprehend those responsible for the killing.
He added that the party’s leadership would ensure that Abass did not die in vain.
Report says tensions between the APC and PDP following the Court of Appeal’s ruling on the sacked APC chairmen and councillors.
The PDP claimed the Court of Appeal’s Feb. 10 ruling did not reinstate the sacked APC officials, but the APC insisted on their return.
Conflict erupted on Monday as both parties claimed control of local government secretariats across the state.
The police later confirmed that six people died during the unrest.
A statement from the Police Public Relations Officer, CSP Yemisi Opalola, confirmed that several others sustained injuries.
She added that the Inspector-General of Police, Kayode Egbetokun, had deployed mobile policemen to maintain peace in the state. (NAN)
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Kyari Highlights Role of Energy Security to National Development
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Malam Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has emphasised the importance of energy security to national development.
Kyari stated this on Tuesday in Abuja, during the opening ceremony of the 60th Annual International Conference and Exhibition (AICE) of the Nigerian Mining and Geosciences Society (NMGS).
Delivering his keynote address on the conference theme, ‘Transformation of the Mineral, Energy, Water, and Construction Sectors through Innovations’, he said energy security was crucial for driving economic activities.
“There is no country that does not pay attention to energy security.
It is actually national security in every country. It triggers a chain of events, from security issues to economic concerns.“That is why countries are paying attention to finding their own source of energy locally, “ he said.
He explained that solid minerals were crucial to energy security due to their key role in energy generation, storage, and infrastructure.
Kyari said that the minerals served as the foundation of solar energy and electric vehicle (EV) battery technology, both of which were in high demand due to the increasing adoption of EVs.
He further stated that the global shift toward clean energy has necessitated innovation, which he described as key to transforming the solid minerals sector into a green energy hub, a potential Nigeria possesses.
Highlighting the role of lithium in EV batteries, Kyari noted that the rising demand for electric vehicles was driving the need for lithium-based batteries.
He emphasised that Nigeria had the minerals in commercial quantities and should leverage it for growth and development of the solid minerals sector.
Kyari noted the importance of innovation in improving efficiency and ensuring cost-effective operations, which he described as the core of the mining and geosciences industry.
The NNPCL boss thanked the leadership of the NMGS for raising significant awareness about their relevance and importance in global innovation.
He stated that innovation had driven sustained growth in oil production in the country, adding that the government and oil companies also had established strategic measures to maintain this progress.
In his remarks, the NMGS President, Prof. Akinade Olatunji, said that the organisation had identified the need of innovation in addressing the myriad of challenges in the various sectors of Nigeria’s economy.
Olatunji noted that if sectors, such as water resources, construction, and agriculture undergo the required transformation, it would result in massive advantages for the economy.
He said that the NMGS was not afraid of big challenges, but required the support and trust of the government and the nation to help change the tide.
In his remarks, the governor of Nasarawa, Abdullahi Sule, said the state had introduced technology and innovation into its mining sector.
He said that the state had the largest lithium processing plant in the country, stating that plans wete underway to inaugurate an even bigger lithium processing plant within the next three months.
He noted that mining success relied on technology transfer, saying that industrialising the sector was crucial for Nigeria’s development.
The conference runs from February 16 to 21. (NAN)
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Tinubu, Obasanjo, Atiku, NGF, Others Mourn Edwin Clark
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By David Torough, Abuja
President Bola Tinubu, Former President Olusegun Obasanjo and former Vice President, Alhaji Atiku Abubakar have mourned the sudden passing of Elder statesmen, Pa Edwin Clark and Ayo Adebanjo who recently passed on.
The Nigerian leaders described the demise of the former federal commissioner of information and respected leader of the Pan-Niger Delta Forum (PANDEF), as an irreparable loss to the nation.
Tinubu in a statement described the Late Pa Clark as an astute politician, a patriot who history will remember as one who fought gallantly for the rights of the people of the Niger Delta
“Pa Clark, a lawyer and educationist, believed in a united Nigeria, and until his last breath, he never stopped reaching out to people from different parts of the country to work together to preserve national unity based on justice and equity.
“As an astute politician, his political opponents never doubted his words’ weight, confidence, and conviction when he spoke. Indeed, a patriot has transitioned to the great beyond.
“History will remember him as a man who fought gallantly for the rights of the people of the Niger Delta, unity in diversity, and true federalism.
“I know many generations will remain proud of how his efforts contributed to national prosperity and stability.”
On his part, the former president says Edwin Clarks had an eventful service to the nation as Commissioner for Education and Finance in the former Midwestern State, at various times between 1968 to 1974 and his stint as the official spokesman of the Federal Government in 1975 cannot go unrecognised.
According to the former President: “I received yet another shocking and sad news of the passing of a great brother and friend, a frontline lawyer, a seasoned economist, a tested administrator, an accomplished politician and a revered community leader, Chief Edwin Clark.
“It was shocking because we lost Chief Ayo Adebanjo, another prominent and illustrious son of Nigeria, just about four days ago. Indeed, the ranks of the nation’s patriotic leadership is fast depleting by the loss of our dedicated and resourceful patriots who served the nation in various capacities, particularly at this crucial state in our nation’s history when their wise counsel and rich experience are greatly needed.
“There is no gainsaying the fact that Chief Clark had an eventful service to the nation as Commissioner for Education and Finance in the former Midwestern State, at various times between 1968 to 1974 and his stint as the official spokesman of the Federal Government in 1975 cannot go unrecognised. I remember him as a close colleague in the Cabinet of General Yakubu Gowon.
Obasanjo stressed that “over the years, Chief Clark was imbued with an undying love for his people and remained one of the more articulate and vocal champions of improved conditions for the oil-bearing States of the country. As one of the foremost leaders of not only the Ijaw people but the South-South zone as a whole, he, until his death, exhorted his people on the imperative of peace and stability in the region.
“He acquitted himself as a peace-loving, unassuming, and committed patriot. He was a firm believer in democracy and participatory governance.
“Even at his prime age, Chief Clark never rested on his oars to continue to contribute to national development as a committed nationalist. I recall some time in 2021, he, for the greater good of the nation, volunteered to be part of the Committee for Goodness of Nigeria (CGN) which was convened by me along with His Eminence Muhammad Sa’ad Abubakar, His Eminence John Cardinal Onaiyekan and General Abdusalami Abubakar to look, at the time, into the pressing issues of national unity, security, peace, integration, economic revitalization and development, women and youth welfare and general progress. For all I knew about him since our paths crossed, Chief Clark never, for once, rested on his oars in exhibiting uncommon courage and commitment to progressive ideals in his contributions to the socio-political development of our country and national discourse.
“There is no doubt that just as his death must have, of necessity, elicited grief and confoundment in the family, in the Niger-Delta Region, it must have also in the good people of our great nation particularly at a time when the country still needed his wealth of experience, wisdom and counsel. We thank God, however, that Chief Clark lived a long and God-fearing life, full of service to Nigeria and its people and left behind the virtues of hard work and transparency in public life which are important lessons for both the present and future generations. We should also be consoled by the facts that he lived a life worthy of communal emulation, touched the soul of his community, and he is mourned by all.
“We pray the Good Lord to grant the soul of Chief Clark a peaceful rest and the Clark family the fortitude to bear the irreparable loss.”
Former Vice President, Atiku Abubakar, also described the death of elder statesman, Chief Edwin Clark as a great loss to Nigeria.
He said Nigeria was still in mourning over the demise of exemplary statesman Pa Ayo Adebanjo, 96, when the sad news of Pa Clark’s passing was brought to his attention.
Atiku said, “Chief Edwin Clark, 97, the Ebi-Ebekekere, Owei of Western Ijaw in Delta State, was a Trojan war horse in the battlefields for independence. Above all, he was a diehard proponent of nation-building, true federalism, equity, and good governance.
“Undoubtedly, he was a veteran freedom fighter, educationist, philanthropist, legal luminary, and astute administrator who mentored many nationalists and patriots like us.
“Clark spoke loudly and worked assiduously in support of inclusiveness, especially for the minority ethnic groups in Nigeria. He was fiery, fearless, and forthright in his peaceful and constitutional pursuit of an egalitarian society in our country. Sadly, that lofty dream seemed to have dimmed before his eyes.
“But, we, his mentees, shall rekindle the torch and continue the drive for a better Nigeria.
“Between 1953 and 1983, Clark paid his dues from the ebb of the ladder at the local government level up to becoming a State Commissioner and even a distinguished senator of the Federal Republic.
“I sincerely share in the grieving mood of his nuclear and extended families, particularly PANDEF, the Ijaw nation, Delta State, and Nigeria in its entirety.
“Rest on Pa Clark, the loud voice of reason against foul political practices. You were an architect of rule of law, justice, and fair play.
“May God receive your gentle soul and allow you to blissfully rest in eternity.”