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Naira Goes Lowest: Exchanges N1100/$1 at Parallel Market

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By David Torough

The naira on Wednesday went down to N1100/$1 at the parallel market, reaching an all-time low.

This is a decline from the previous rate of N1060/$1 reported on Tuesday.

Similarly, the naira closed at N848.12/$1 at official market Tuesday, against N778.

80/$1 on Monday.

Wednesday’s depreciation is nearly a 5 percent depreciation against the dollar in the parallel market.

Since its May pledge to unify the nation’s foreign-exchange market, the naira has dropped over 40%.

The Central Bank of Nigeria (CBN) has still been struggling to save the naira.

Last week, the apex bank announced lifting of the ban on importation of 43 restricted items from accessing foreign exchange on its official platform.

The bank’s Director Corporate Communications, Isa Abdulmunin who disclosed this in a statement maintained that the CBN’s move would boost liquidity in Forex market.

“Importers of the 43 previously restricted items by the 2015 circular referenced TED/FEM/FRC/GEN/01/010, and its addendums are now allowed to purchase foreign exchange in the Nigerian foreign exchange market,” the bank stated.

But on Wednesday, the naira situation worsened

Analysts said the policy change may have created a ripple effect on Nigeria’s economy as residents grapple with the rapidly changing value of their currency.

The CBN had stated that it would continue to promote orderliness and professional conduct by all participants in the foreign exchange market to ensure market forces, determine exchange rates on Willing Buyer-Willing Seller principle.

The CBN explained that the change of the market policy became necessary because it would boost liquidity in the market, promising to intervene from time to time to ease challenges.

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Delta Police Nab Kidnappers, Armed Robbers, Recover Weapons, Others

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From Francis Sadhere, Delta

The Delta State Police Command has recorded a major security breakthrough with the arrest of several suspected kidnappers, armed robbers and cultists across the state, leading to the recovery of a significant cache of firearms and ammunition.According to a press release by the Police Public Relations Officer, Bright Edafe, on behalf of the Commissioner of Police, Abaniwonda Olufemi, the arrests were made through a series of coordinated intelligence-led operations carried out by various tactical units within the Command.

In a major crackdown on kidnapping, operatives of the CP-Special Assignment Team (CP-SAT) arrested three suspected members of an interstate kidnapping syndicate on May 16 and 17.
The suspects — Idirisu Yakubu (21), Bello Amodu (40), and Umar Mohammed Beto (38) — were apprehended in Port Harcourt, Rivers State.The gang is believed to have been responsible for kidnappings in Delta, Rivers, Enugu, and Imo states. Following their arrest, the suspects led police to a bush along the Ughelli-Ozoro Road in Delta State where officers recovered an AK-47 rifle loaded with 23 rounds of live ammunition and a pump-action shotgun with seven live cartridges. Investigations into the syndicate’s operations are ongoing.In another operation, the Eagle Net Surveillance Team based in Ughelli arrested a 53-year-old suspect, Benjamin Benemor, in Warri South Local Government Area. Acting on credible intelligence, officers searched his residence and uncovered a deadly arsenal which included one English Beretta pistol with magazine, an English double-barrel pump-action gun, an English single-barrel gun, two locally made firearms, and a battle axe. Fifteen live cartridges were also seized from the scene.Further demonstrating the effectiveness of proactive policing, operatives of the Rapid Response Squad (RRS) intercepted a Jetta vehicle along the Asaba-Benin Expressway on May 15. Two suspects — Blessing Ngbajime (49) and Okpako Oghenhovo (27) — were arrested, and one fabricated Beretta pistol was recovered from the latter. Investigations are currently underway.Reacting to the successful operations, CP Abaniwonda Olufemi commended the officers for their professionalism and dedication.He reiterated the Command’s commitment to eradicating criminal elements and safeguarding lives and property across Delta State.“These achievements demonstrate our readiness to confront all forms of criminality head-on. We urge citizens to remain vigilant and continue to provide timely information that can assist in maintaining peace and order,” Olufemi stated.The arrests and weapon seizures come as part of the Command’s intensified efforts to rid the state of criminal syndicates and maintain law and order.

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Criminal Herders are Bent on Formatting Crisis in Agatu, Says Ejeh

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From Attah Ede, Makurdi

The Chairman of Agatu Local government area of Benue State, Melvin Ejeh yesterday raised the alarm that criminal herders are bent on causing a crisis in his domain despite the painstaking efforts by his administration to restore permanent peace in Agatu land.The chairman, who raised the alarm in a press statement in Makurdi, lamented over the tragic attack on some innocent citizens who were returning from the market around Ogwumogbo and Okpo’okpolo communities by a group of criminal herders resulting in the loss of six lives.

According to him, ‘the report that reached me indicated that the victims who were traders returning from Oweto Market in Agatu to their various villages were ambushed by their attackers.
”It is sad and highly regrettable that some criminal herders are bent on causing yet another crisis despite all efforts we are making to restore peace in the area.”This barbaric, criminal, and heinous crime is condemnable in its entirety. The perpetrators and their sponsors must not go unpunished. They must be fished out from their hideout to answer for their evil act”.Ejeh who is also the Deputy Chairman, ALGON said the police, military, DSS, and other security agencies have begun action with a view to apprehending those involved.Said he, “I wish to allay the fears of citizens in the Council and appeal that they should continue with their normal activities.”The local government will work with all the security agencies to uproot the criminals from their hideout to face the wrath of the law, no matter how highly placed. Anybody who is found to be aiding and abetting criminality in the local government area will be dealt with according to the law.”I call on every citizen to be vigilant and report any suspicious activities or movements to security agencies in the local government”.

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New Frontiers are not about Bullets, Guns, it’s About Brains, Says Obianime

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From Mike Tayese, Yenagoa

A Prof. of Pharmaceutical Sciences University of Portharcourt, Prof. A.W. Obianime has said that the prospect for the future of Ijaw Nation looks good but will require a broad review of the people’s emotional and psychological state.

He said there should be a reorientation of the people, saying the need for environmental and social Justice is paramount and to enshrine corporate and environmental responsibility is an aspect they need to pursue and promote.
Obianime handed down this during a Public Lecture/Dinner organized to mark the 2025 Isaac Boro Day celebration at the state Banquet Hall Government House Yenagoa, Bayelsa state capitalAccording to him, the existing lawsuit and social campaign should be used for the development of the people and the region.
“We must change the erroneous narrative by people who mean us no good and present us as aliens, senseless Agitators or militants, not as educated people seeking their rights, justice and Fairness”.In a lecture titled: The Ijaw Struggle for Self Determination: Challenges, New Frontiers and Prospect, Prof. Obianime said, “Politics and the allure of monetary gains and their supposed benefits have disunited our people and therefore there is no more Ijawness in our daily operations”. Rather than ljaw, we talk along party lines (PDP VS APC).”The build-up to 2027 is more important than the jaw National and ancestral interest. Peace building, Dialogue and constructive engagement between the Ijaw nation, the federal government, oil companies, and civil society are key to lasting peace and mutual development.”The Ijaws as an ethnic nationality must take action, their cause must be given the needed global outlook. Our message must be well packaged and placed on the front burners of international human rights platforms, environmental courts, and policy institutions.”Our youths are our future and empowering them with the right information via formal and non-formal education, global exposure and leadership training will sustain the desire for a better future, keep alive the struggle and secure the dream.”We must begin to learn to accommodate and network our interests. We must purposefully go out to make new friends, establish new relationships and begin a new phase of what I consider a high-powered PR activity.”Finally, the new frontiers are not about bullets and guns, it is about brains and brawn. The Ijaws must rise above petty educational pursuits but seek education that is liberating and fair. Therefore brethren, if we must establish the concept of fairness and justice as it concerns the ljaws people, we must also preach it as a national ethos because injury to one is an injury to all” , he said.While acknowledging some challenges said, theater and the complexities/complexion of the war or survival in the Nigerian political space have changed. Saying the physical environment has changed due to environmental degradation and toxicity.In his closing remark, Secretary to the State Government, Prof. Nimibofa Ayawei said, the younger generations should emulate what Issac Adaka Boro stood for during his lifetime.According to him, Boro’s struggle contributed to the creation of the old Rivers state and now Bayelsa state too was created. “Our politicians, youths and all stakeholders in Ijaw Nation should see the interest of Ijaw man above their personal interest “.

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