Why my regime was toppled in 1985, by Buhari

President Muhammadu Buhari may have stirred the hornets nest when yesterday, he declared he was removed from office on August 27, 1985 because he was planning to purge the military hierarchy of corruption.

He specifically pointed a finger at two of his top subordinates in the army then, former Chief of Army Staff, General Ibrahim Babangida and two-time National Security Adviser (NSA), General Aliyu Gusau, as arrowheads who toppled his military government in August 1985 to save themselves from his wrath.

Melaye : Senator Tinubu writes IGP

Senator Oluremi Tinubu Monday wrote to acting Inspector General of Police Ibrahim Idris requesting adequate security following last week’s attack on her by Senator Dino Melaye.

In the letter dated July 18, with the title: Request for police protection, the Lagos Central senator, said:   “During the proceedings of the Senate on Tuesday July 14, 2016, I had a cause to contribute to a matter of national importance.

“Apparently dissatisfied by my contributions, Senator Dino Melaye threw caution to the winds, resorted to vulgar abuse of my person and wanted to assault me.”

Tougher times for consumers as inflation hits 16.5%

The National Bureau of Statistics on Monday released the Consumer Price Index which measures inflation stating that the country’s inflation rate has risen from 15.6 per cent to 16.5 per cent in June.

The 16.5 per cent increase in inflation rate represents one of the highest increases to be recorded by the country in recent times.

The bureau attributed the rise in inflation to increase in prices of electricity, kerosene, furniture and furnishing materials, passenger transport by road, fuel and lubricants as well as transport equipment.

Naira to fall further on higher dollar demand

The naira is expected to depreciate further this week as rising dollar demand continues to put the local currency under pressure at the Central Bank of Nigeria’s interbank forex window and parallel market.

The local currency eased by four per cent against the dollar on Friday to hit a record low after the CBN sold the greenback at a weaker rate to boost interbank market liquidity, forex traders said.

The naira hit a record low of 295.25 on thin trade at the interbank market, a month after the CBN lifted its currency peg, Reuters reported.

Naira to fall further on higher dollar demand

The naira is expected to depreciate further this week as rising dollar demand continues to put the local currency under pressure at the Central Bank of Nigeria’s interbank forex window and parallel market.

The local currency eased by four per cent against the dollar on Friday to hit a record low after the CBN sold the greenback at a weaker rate to boost interbank market liquidity, forex traders said.

The naira hit a record low of 295.25 on thin trade at the interbank market, a month after the CBN lifted its currency peg, Reuters reported.

EFCC seizes N1.350b properties from Fayose

The Economic and Financial Crimes Commission (EFCC) has seized six choice properties allegedly acquired by Governor Ayodele Fayose of Ekiti State with stolen public funds.

The duplexes, estimated at N1.350billion include four in Lagos and two in Abuja.

They were allegedly acquired for him by his associate, Abiodun Agbele and sister. Mrs. Moji Ladeji.

A furious Mrs. Ladeji has approached the Federal High Court, Ado-Ekiti laying claim to one of the Abuja duplexes.

Naira falls to 363 as dollar scarcity continues

The naira fell further to 363 against the dollar at the parallel market on Thursday, as the scarcity of foreign exchange continued to weigh on the value of the local currency at the interbank and parallel markets.

The naira had closed at 360 to the dollar at the parallel market on Wednesday.

The local currency also dropped against the greenback at the interbank official market to 284 per dollar on Thursday. The naira has fallen consistently at the interbank market this week, a development that is reflected in the volatility it has recorded at the parallel market.

Corrupt people should be jailed, says Soyinka

The Nobel laureate, Prof. Wole Soyinka, has said anyone who is found guilty in the current Federal Government’s anti-corruption war should be jailed.

He said this on Thursday in Abeokuta at the sideline of activities marking his 82 birthday.

He clocked 82 on Wednesday.

 Soyinka had earlier played host to pupils from 82 secondary schools across the state, who participated in the Wole Soyinka Essay Competition titled, ‘Challenges or Not, You Must Love Your Country.’

How lawyers may end up as accused persons – Sagay

The Chairman, the Presidential Advisory Committee Against Corruption, Prof. Itse Sagay (SAN), has given an insight into practices that could turn a lawyer into an accused person and land him in jail.

Sagay spoke on Tuesday during a one-day workshop on ‘Anti-corruption, ethics of the legal profession and justice sector’.

The event was co-organised by the Nigerian Bar Association and the PCAC.

In his contribution, S‎agay described lawyers as “social engineers” whose failure to live up to the expectation of their callings‎ could lead to anarchy, chaos and poverty.

Naira tumbles to 360 as dollar supply dries up

The naira fell to 360 against the United States dollar at the parallel market on Wednesday as the supply of the greenback waned at the foreign exchange market.

The local currency had closed at N354 against the greenback on Tuesday.

The naira has been experiencing high volatility since the beginning of the week, as supply gap at the interbank forex market continues to weigh on the parallel market.

The naira, which closed at 348 against the greenback at the parallel market on Friday, dropped to 351 on Monday before plunging further to 354 on Tuesday.

Pages