Job losses loom as Naira sells 194 to dollar
The continuous fall in the price of crude oil in the international market and the recent devaluation of the nation’s currency, the naira, are putting serious pressure on the economy, with the currency experiencing a free fall.
The naira exchanged for between 192 and 194 to the United States dollar at the parallel or street market on Friday. Earlier in the week, it sold for N188 against the dollar at the same market. Read more
Okonjo-Iweala Faults Civil Servants’ Claim on Outstanding Salaries
The Coordinating Minister of the Nigerian Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has carpeted the Association of Senior Civil Servants of Nigeria as peddlers of falsehood for alleging that government owed civil servants salaries.
This is as the Presidential Amnesty Office has assured ex-militants from the Niger Delta region that their November 2014 stipends would be paid early next week, admonishing them to eschew acts capable of portraying them as unruly and unappreciative of the federal government’s efforts to better their lot. Read more
2015: UPN picks female presidential candidate
The Unity Party of Nigeria has picked a motivational speaker, Helen Godswill, as its presidential candidate for next year’s general elections.
The party picks Alhaji Abdulrasheed Ibrahim Gusau as her running mate.
While Godswill hails from Delta State, Gusau hails from Zamfara State. Read more
Bomb Blast Victims Apply to Human Rights Commission for Help
Victims of bomb blasts which occurred in various parts of northern Nigeria have accused the Federal Government of neglect.
In a petition they sent to the National Human Rights Commission, they said: “We have been neglected and abandoned by the Federal Government as it has failed to keep …its promise of taking care of our medical bills, a promise made by the President, Dr Goodluck Jonathan at every visit he made to the scenes of the blasts and to the hospitals to visit victims of the bomb blasts.” Read more
Fulanis Urge INEC to Extend Polling Units To Their Domain
Ahead of the 2015 general election, the Fulani soci-cultural organisation, Miyetti Allah Kautal Hore has called on the Independent National Electoral Commission (INEC) to create polling units in some Fulani settlements across the country.
The national president of the group, Alh Bello Abdullahi Bodejo made the call shortly after meeting with Fulani communities in Tudun Wada, the headquarters of the association in Karu, Nasarawa State. Read more
INEC raises task force on IDPs
The Independent National Electoral Commission on Friday in Abuja said it had raised a task force on how to ensure that Internally Displaced Persons in areas ravaged by Boko Haram insurgents will vote in the general elections scheduled for February 2015.
The team is to be led by a National Commissioner with INEC, Mrs. Thelma Iremiren. Read more
Boko Haram Massacres Aged Persons in Gwoza
Boko Haram terrorists in control of Gwoza town in Borno State have in the last 48 hours engaged in a massacre of aged men and women in the beleaguered town just as men of the Nigeria Army celebrate the death of 75 terrorists killed in a fierce battle in a village near Maiduguri, according to security sources and witnesses. Read more
State Assemblies Approve Separation of Office of AGF from Justice Minister
The face of the new constitution being awaited by Nigerians finally unfolded on Friday with the submission of the output of the state houses of assembly votes on amendments to the 1999 Constitution.
One of the major highlights of the approved amendment was the separation of the Office of the Minister of Justice from that of the Attorney General of the Federation. Read more
FAAN Suspends Cargo Operations to MMIA
The Federal Airports Authority of Nigeria (FAAN) has directed operators of all cargo flights to find alternative entry points for their cargo rather than the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.
This is because the cargo apron in Lagos is congested and there is no more space for aircraft to park and nowhere to keep cargo in that section of the airport. Read more
IMF Cuts Nigeria’s Growth Projection to 5%
The International Monetary Fund (IMF) has forecast that the Nigerian economy will record a lower growth of five per cent in 2015.
The Nigerian economy had grown by 6.1 per cent in the third quarter of 2014. Read more
Nigeria Ranked Least Prosperous Nation in the World
In spite of the new found status of Nigeria as the largest economy in Africa, the country has been ranked not only as one of the world’s least prosperous countries in 2014, but also one of Africa’s poorest nation beaten by smaller countries like Niger, Benin, Mali and Cameroun, an annual global prosperity survey released this week has said.
According to a report released by a UK based Legatum Institute, a research organization that documents annual prosperity indicators around the world, listed Nigeria as the 125th out of 142 countries surveyed. Read more
CBN moves against speculators to save naira
The Central Bank of Nigeria (CBN), on Friday, announced new measures to curb currency speculation as part of an effort to defend the naira which has been hit hard by the collapse in global oil prices.
The move comes after a currency devaluation and a cut in the 2015 growth forecast and less than two months before general elections, with President Goodluck Jonathan trying to assure voters that Nigeria’s financial future remains healthy. Read more
Oil and Gas
Oil and gas firms invited to bid for deep-water exploration blocks in Bulgarian Black Sea
Potential investors have been invited to bid for oil and natural gas exploration rights on Bulgaria’s continental shelf and in the Black Sea by the country’s government.
Bulgarian energy minister Temenuzhka Petkova said that the tenders were in line with the government’s policy to reduce Bulgaria’s dependence on imported energy through increased exploration and exploitation of its own natural gas and oil fields. Read more
Israel launches airstrikes on Gaza targeting Hamas after rocket fire
Israel has launched airstrikes in the Gaza Strip targeting Hamas interests following a rocket attack.
This is the first time Israeli jets have bombed Hamas installations since the rivals agreed on a truce in August. Read more
Sony: ‘We Had No Choice’ But to Cancel Film
Sony has defended its decision to cancel a film mocking the North Korean regime after the studio suffered a damaging cyber-attack.
In a statement, the company said it had “no choice” but to pull The Interview, because cinema chains across the US had backed away from showing the film, which depicts a plot to assassinate North Korean leader Kim Jong-Un. Read more
UN asks Israel to pay Lebanon $850m over oil spill
The UN General Assembly has passed a resolution asking Israel to pay Lebanon more than $850m (£544m) for a major oil spill during Israel’s 2006 war with Hezbollah.
The UN has asked Israel to compensate Lebanon before but this is the first time a figure has been given. Read more
Protesters from both sides of policing controversy face off in NYC
Scores of protesters denouncing police violence against non-whites rallied alongside dozens of supporters of New York City police officers on Friday in a tense standoff outside City Hall that comes amid weeks of mostly peaceful protests.
It was one of the first counter-rallies by police supporters since the chokehold death of Eric Garner, a black man killed when officers were attempting to arrest him in July. The killing set off a wave of protests against the treatment of minority groups by police. Read more
Australian air strikes against Isis are working, says military
Australian defence officials are claiming success in the air campaign against Islamic State in Iraq and say it has helped check the group’s advances – however the assessment comes amid renewed warnings about the scale of the humanitarian crisis within Iraq and Syria.
The UN has launched an appeal for aid to help the more than 2.1 million people displaced across the country and 5.2 million in need of humanitarian aid – of whom 2.2 million are in areas under the control of Islamic State. Read more
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