Author: straightnewsng.com

The Naira soared after the Central Bank of Nigeria granted banks and other financial institutions the freedom to trade forex at market-determined rates.  NAN reports that the local currency dropped by 40.78 per cent when compared with N471.67 it exchanged for the dollar on Tuesday. Also read: Naira scarcity: NLC Poised for showdown with FG, CBN The depreciation followed the directive by the Central Bank of Nigeria (CBN) to banks to remove the rate cap on the Naira at the Investors’ and Exporters’ Window. The directive would allow for a free flow of the nation’s currency against the dollar and…

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, have disagreed over the body that regulates operations at the Bonny River Terminal. The disagreement follows an allegation by the NMDPRA that locks placed on the terminals were illegally broken by ExxonMobil which enabled oil theft at the facility. NUPRC is claiming that having granted ExxonMobil the licence to lift Butane at the Bonny River Terminal oversee the operations at the terminals, it is its responsibility. NMDPRA, on the other hand, had in a letter to the Chief of Defence Staff claimed that…

The suspended Economic and Financial Crimes Commission (EFCC) Chairman, Abdulrasheed Bawa, has reportedly arrived at Department of State Services, DSS, 1 Maitama Avenue, Three Arms Zone 900103, Abuja, Federal Capital Territory for interrogation. DSS  invited the embattled EFCC Chairman to the office following his suspension by President Bola Ahmed Tinubu over “weighty allegations” of abuse of office against him . This invitation was conveyed in statement released to journalists on Wednesday night signed by the spokesperson of the service, Peter Afunanya, PhD. Also read: Nigeria’s President suspends EFCC Chairman Bawa indefinitely The statement read: “The Department of State Services (DSS)…

President Bola Tinubu on Wednesday expressed sadness over the boat mishap that claimed more than 100 lives in Kwara State. After a wedding ceremony, the boat that conveyed about 250 people from Gboti to Ebu and Dzakan Villages in Patigi Local Government Area had engine problem, leading to capsizing of the boat. Consequently, the President has directed the relevant authorities to “unravel the immediate and remote causes” of the accident and to provide immediate relief and assistance to the survivors and families of victims. Also read:  Anambra: 76 People feared dead In Boat Mishap Tinubu’s condolence message is contained in…

Suspected gunmen have abducted a chieftain of the Peoples Democratic Party (PDP), Chief Eyo Okon Edet in Oron Local Government Area of Akwa Ibom State. A source from the area, said Okon, a Deputy coordinator of the campaign organization of Pastor Umo Eno’s “Divine Mandate,” was kidnapped at 6:10 p.m. on Monday. The source who spoke on grounds of anonymity told newsmen Wednesday in Uyo, that the gunmen abducted the PDP chieftain at his petrol station known as Eyotech Filling station, Marina Road in Oron and whisked him away to an unknown destination. Also read:  Akwa Ibom-born Professor kidnapped in…

Nigeria’s President Bola Tinubu has indefinitely suspended the Chairman, Economic and Financial Crimes Commission (EFCC), AbdulRasheed Bawa, from office. Tinubu said this is to allow for a thorough investigation into his conduct while in office following “weighty allegations” of abuse of office against him. This was contained in a statement by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, on Wednesday, June 14. Bawa was, however, directed to immediately hand over to the Director, Operations in the Commission pending the conclusion of the investigation. The statement read, “President Tinubu has approved the…

Suspected abductors have freed Iniodu George Ukpong, a lecturer in the Faculty of Biological Sciences, University of Cross River (UNICROSS), Calabar. Ukpong who is a professor of Environmental Parasitology from Ikot Inyang Udo Village, Ukanafun Local Government Area of Akwa Ibom State was kidnapped by unknown men in Calabar last Thursday night. Though it is not known if the family had paid ransom before his release, it was gathered that the university don was calling friends, relations and colleagues to send him money to secure his release. Also read:  Akwa Ibom-born Professor kidnapped in Calabar In a post in Sitippe…

ACCEPTANCE SPEECH DELIVERED BY H.E. DISTINGUISHED SENATOR (CHIEF) GODSWILL OBOT AKPABIO, CON, ON HIS ELECTION AS THE PRESIDENT OF THE SENATE OF THE FEDERAL REPUBLIC OF NIGERIA, THIS 13TH DAY OF JUNE, 2023. H.E. the Deputy Senate President, Distinguished Senator Jibrin Barau, The Senate Leader, Principal Officers of the Senate, Distinguished Senators of the Federal Republic of Nigeria, Gentlemen of the Press, Ladies and gentlemen. To God Almighty the creator of the universe, who alone is supreme be all glory, honour, majesty, dominion and power. I bow before you and acknowledge your inestimable control of all that we do and…

A former aspirant for the Senate Presidency, Abdulaziz Yari, has felicitated the new Senate President, Godswill Akpabio, after the latter was announced as the winner of the election. Mr Akpabio polled 63 votes to defeat Mr Yari, his only challenger, who secured 46 votes. The election started around 8:45 a.m. on the floor of the Senate and was coordinated by the Clerk of the Senate. Also read:  Akpabio Becomes Nigeria’s 13th Senate President After the results were announced, Mr Yari stood up to embrace Mr Akpabio, and they exchanged pleasantries with laughter. Other Senators in the two camps were also seen…

New Speaker and Deputy Speaker in the Nigeria’s House of Representatives, Tuesday, took oath of office after they were  unanimously elected by the members. Tajudeen Abbas has been elected the new Speaker of the 10th House of Representatives. The Member-elect for Bende Federal Constituency of Abia State, Hon. Benjamin Kalu, has emerged unopposed as the Deputy Speaker of the 10th House of Representatives on Tuesday afternoon. Abbas polled 353 votes of the 350 members to emerge the winner of the Speakership election. The other contestants, former Deputy Speaker Idris Wase and Sani Jaji, polled three votes each. Mr Abbas is…