Author: Obayomi Abiola Benjamin

The Central Bank of Nigeria (CBN) has intervened in the inter-bank Foreign Exchange market to the tune of $413.5 million, further underscoring its resolve to guarantee liquidity in the market as well as shore up the international value of the naira. Giving a breakdown of the Bank’s latest round of intervention on Monday, the CBN Acting Director in charge of Corporate Communications, Mr. Isaac Okorafor, disclosed that the regulator offered the sum of $100 million to dealers in the wholesale window, while the Small and Medium Enterprises (SMEs) window was allocated a total of $28 million. The invisibles segment was…

By Reuben Abati Fifty years after the civil war ended, Igbos do not yet feel a sense of belonging, acceptance or safety in the Federation called Nigeria. The sad part is that this belief is shared not just by the generation that witnessed the war and its deadly consequences, but Igbos across all generations, including the millennials who have been socialized into believing that there is a gap between their people and other Nigerians. Let us not deceive ourselves about certain plain truths. The civil war is perhaps the most remarkable incident in Igbo history in the last century. The pain,…

Pope Francis has given Nigerian priests 30 days to pledge obedience to him and accept a bishop appointed for their diocese – or risk being suspended, the Associated Press news agency reports. The pontiff met on 8 June a delegation from the Ahiara diocese in south-eastern Nigeria, where priests have been refusing to accept the 2012 appointment by then pontiff, Benedict XVI, of the local bishop, Peter Okpaleke. Vatican newspaper L’Osservatore Romano reported yesterday that Pope Francis was acting “for the good of the people of God” by threatening to suspend the priests from the ministry if they did not…

By Joe Igbokwe Those who were not born before June 12, 1993, may not know what is all about. For record purposes, June 12, 1993, was the day Nigerians from the East, West, North and rose voice, in amity, in unity, in concord and tandem to elect Chief M.K.O as the president of Nigeria. But on 21st June 1993 the former military president, retired General Ibrahim Babangida annulled the historic election and set Nigeria on the path of crisis, leading to many deaths including the winner and the wife , Kudrirat Abiola. In my book, Heroes of Democracy (1999) the struggle for the…

Beloved, as far as this realm is concerned, there is nothing permanent therein. Whether it be riches or poverty, whether it be strength or weakness. Even the present knowledge or the level of ignorance being displayed by the children of men, the bible says they are all temporary. 2 Corinthians 4:18 says “the things which are already seen and experienced are all temporary” (paraphrase). For instance, you may be topping the chart right now as the best singer in the world, you may even be the richest man in the whole wide world right now – but all these are…

By Dele Momodu Fellow Nigerians, let me confess my sadness over the unfortunate, illogical and irrational bickering and grandstanding going on all over our dear beloved country at the moment. At the outset of my epistle today, let me confess my exceptional love for this country named Nigeria. Say what you will, Nigeria was created great despite the amalgamation of birds of different feathers. It was not for fun that our country was made the biggest black nation on planet earth. We are better and stronger as a bigger country than as tiny fragments that some people want us to…

By Anne Applebaum  Theresa May had a plan: Steal the policies of Britain’s “far right” — the U.K. Independence Party — and then steal their voters, too. Since she took office about a year ago, the formerly moderate British prime minister attacked foreigners, jeered at the European Union and held Donald Trump’s hand. In April, she called an early general election, confident that UKIP voters would now endorse her “hard Brexit” and her watered-down English Tory populism. Never mind that the moderate centrism of her predecessor, David Cameron, won a Conservative Party majority only two years ago. Never mind that…

Nigeria’s Ministry of Finance says the sum of 375.8 million Naira has been paid to the first batch of 20 whistle blowers in relation to the recovery of 11.635 billion Naira. Minister for Finance, Mrs Kemi Adeosun said the payment is the first under the Whistle Blower Policy, and it underscores the commitment of the Buhari administration to anti-corruption. The minister explained that all payments are taxable and are only made upon confirmation of the final recovery of assets as authenticated by the Federal Attorney-General as being free of legal disputes or litigation. Channels Tv

These are not the best of times for Bureaux de change (BDCs) operators. They have been shunned by foreign exchange users following the convergence of naira/dollar rates at the parallel market  and BDCs for the first time in two years. The exchange rate at both parallel market and BDCs closed yesterday at N363/$1. The attractive rate at the parallel market immediately triggered a massive influx of demands from forex users running away from the mandatory regulatory documentations sought by BDCs. Aminu Gwadabe, president, Association of Bureaux De Change Operators of Nigeria (ABCON) who confirmed the rates, said BDCs were at…

By Dele Momodu Fellow Nigerians, I’m sure you already know how much I love photographs and photography. And it has been said that pictures speak louder than a thousand words. Long before the coming of Facebook and Instagram, a magazine by the name Ovation International, published by some Nigerians in London, carved a niche for itself through celebrity journalism and generous use of beautiful photographs on its glossy pages. Ms Funmi Iyanda, the famous television personality has recently had cause to describe Ovation International as “Instagram before Instagram…” When we started this brand of journalism, photographers were still treated like…