Friday, October 19, 2018
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    DEFENDING NAIRA: Foreign reserves fall by $2.1bn in 30 days

DEFENDING NAIRA: Foreign reserves fall by $2.1bn in 30 days

Nigeria's foreign exchange reserves have declined by $2.15 billion in the last 30 days, as the Central Bank of Nigeria (CBN) position itself in defence of the naira.Since the United States Federal Reserves raised interest rates on September 26, 2018, the Nigerian reserves have dropped by $1,541,891,539, as investors continue voting their monies out of the Nigerian economy.The reserves moved [...]

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    Fayose spends third day in custody as EFCC releases pictures of houses he ‘bought through Dasukigate’

Fayose spends third day in custody as EFCC releases pictures of houses he ‘bought through Dasukigate’

The Economic and Financial Crimes Commission (EFCC) has released pictures of some houses which Ayodele Fayose, former governor of Ekiti state, allegedly purchased through illegal means.Wilson Uwujaren, spokesman of the commission, released the pictures on Wednesday, saying the properties were uncovered while the anti-graft agency was investigating the allegations of corruption against the former governor.Uwujaren alleged that Fayose purchased the [...]

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    Yari: Governors lack the capacity to pay new minimum wage

Yari: Governors lack the capacity to pay new minimum wage

Abdulaziz Yari, chairman of the Nigerian Governors' Forum (NGF), says governors are not against the upward review of the minimum wage but they lack capacity to pay it.The Nigerian Labour Congress (NLC) had demanded N30,000 as minimum wage but the governors proposed N20,000 while the federal government said it could afford N24,000.Briefing journalists on the outcome of the forum's meeting [...]

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    APC insists on disqualification of aspirants — despite pressure from Aisha Buhari, governors

APC insists on disqualification of aspirants — despite pressure from Aisha Buhari, governors

A panel set up by the national working committee of the All Progressives Congress (APC) panel has insisted on the disqualification of some aspirants from the primaries of 2019 elections.This is despite pressure from Aisha Buhari, wife of the president; Ibikunle Amosun, governor of Ogun state; Nasir el-Rufai, governor of Kaduna, among others.In a document seen by TheCable, the panel [...]

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    Peter Obi is a gift from Ndigbo to Nigeria, says Abia gov

Peter Obi is a gift from Ndigbo to Nigeria, says Abia gov

Okezie Ikpeazu, governor of Abia, says Peter Obi is a gift from the Igbo to Nigeria.He said south-east governors are not opposed to his emergence as running mate of Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP).Ikpeazu said this on Wednesday after accompanying Obi to the site of the pipeline fire that killed scores in Umuimo and Umuadoro [...]

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    Gunmen kill Ekiti APC treasurer

Gunmen kill Ekiti APC treasurer

Moses Adeoye, treasurer of the All Progressives Congress (APC) in Ekiti, has been killed by suspected gunmen at his residence.TheCable gathered that Adeoye was murdered Wednesday evening in Otun, Moba local government area of the state.A source who spoke to TheCable said the gunmen didn't take any of his valuables or properties.Confirming the incident, Caleb Ikechukwu, Ekiti state police public [...]

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    Nigeria moves up 10 places in Global Competitiveness Report

Nigeria moves up 10 places in Global Competitiveness Report

Nigeria moved up 10 places in the Global Competitiveness Report released by the World Economic Forum (WEF) on Wednesday.Africa's largest economy moved from its 2017 spot of 125 to 115.According to the report, national competitiveness is measured by the institutions, policies and factors that determine the level of productivity of a country.Nigeria had an overall score of 47.6 out of [...]

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    Akpabio asks Saraki to resign after disagreement over sitting arrangement

Akpabio asks Saraki to resign after disagreement over sitting arrangement

Godswill Akpabio, senator representing Akwa Ibom north-west, says Senate President Bukola Saraki should resign his position.Akpabio made the call on Wednesday after he had a disagreement with Saraki in the senate chamber over sitting arrangement.Albert Akpan, senator representing Akwa Ibom north-east, had accused the All Progressives Congress (APC) in the state of plotting to create chaos ahead of the governorship [...]

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    Henceforth, federal workers will not be paid when on strike

Henceforth, federal workers will not be paid when on strike

The federal government has approved the implementation of no work, no pay principle when workers go on strike.The federal executive council (FEC) issued the approval during its weekly meeting in Abuja on Wednesday.Chris Ngige, minister of labour and productivity, said the report of the technical committee on industrial relations matters in the federal public service was adopted at the meeting.Ngige [...]

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    EXTRA: Alhassan retrieves furniture, computers she donated to Taraba APC

EXTRA: Alhassan retrieves furniture, computers she donated to Taraba APC

Aisha Alhassan, former minister of women affairs, has retrieved computers and furniture she donated to the All Progressives Congress (APC) secretariat in Jalingo, Taraba state capital.Aaron Artimas, APC publicity secretary in the state, disclosed this to NAN on Wednesday.Artimas said Alhassan also removed rugs, air-conditioning sets and tables she bought for the party when she was a member.He said the [...]

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Exchange Rates

October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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