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Naira Appreciates To N1,640 Per Dollar In Parallel Market

The naira has appreciated to N1,640 per dollar in the parallel market, strengthening from N1,655 per dollar recorded on Monday.

Similarly, data from the Central Bank of Nigeria (CBN) shows that the official exchange rate in the Nigerian Foreign Exchange Market (NFEM) improved, with the naira trading at N1,526.3 per dollar, compared to N1,533.5 per dollar on Monday, marking a N7.2 gain.

As a result, the gap between the official and parallel market rates narrowed from N121.5 to N113.7 per dollar.

This appreciation follows months of volatility, with the naira now maintaining a relatively stable range between N1,550 and N1,520 per dollar since December.

Analysts credit this stability to ongoing monetary policy reforms by the CBN, including the Electronic Foreign Exchange Matching System (EFEMS) introduced last December and the upcoming FX code set for launch by the end of January.

Taiwo Oyedele, chairman of Nigeria’s Fiscal Policy and Tax Committee, explained that the new FX code would enhance transparency, helping to remove about $20 million daily from speculative trading in the market.

CBN Governor, Olayemi Cardoso highlighted that the exchange-rate reforms have positioned the naira more competitively, presenting new opportunities for investors.

Speaking at a virtual briefing hosted by the Nigeria Economic Summit Group (NESG), Cardoso noted that while the naira had experienced sharp depreciation last year, its current levels now offer investors a more competitive entry point.

With continued policy adjustments, there is cautious optimism that the naira’s stability will persist in the months ahead.

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Police Withdraw Defamation Charges Against Dele Farotimi

The Nigeria Police Force has officially withdrawn its defamation case against Lagos-based lawyer and author, Dele Farotimi, following the intervention of key stakeholders.

A notice of discontinuance, dated January 29, was filed at the Federal High Court in Ado-Ekiti under Section 108 (1) (2)(a) of the Administration of Criminal Justice Act, 2015.

The notice, signed by police prosecutor Samson Osubu, requests the court to strike out the case after the nominal complainant, Are Afe Babalola, expressed a desire to withdraw the charges.

As at the time of filing this report, legal representatives for both parties have assembled at the Federal High Court, Ado-Ekiti, where the prosecution has served the withdrawal notice to Farotimi’s defense team.

However, the presiding judge is yet to sit and formally strike out the charge.

Meanwhile, a separate charge against Farotimi, filed by the police at the Magistrate Court in Ado-Ekiti, remains pending.

The case is scheduled for hearing on February 13, 2025, though expectations are high that it will also be discontinued before the adjourned date.

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Just In: Sowore Arrives In Court For Trial Over Calling Police Boss An ‘Illegal IG’

Former presidential candidate and activist, Omoyele Sowore, has arrived at the Federal High Court in Abuja for his arraignment over comments made on social media regarding the Inspector General of Police, Kayode Egbetokun.

Sowore is facing a three-count charge under the Cybercrime (Prohibition, Prevention, etc.) Act, 2015, as amended in 2024. The charges, filed in suit number FCH/ABJ/23/25, allege that he knowingly used his verified Twitter account to refer to Egbetokun as an “illegal IGP”, an act authorities claim was intended to incite unrest and undermine police authority.

The prosecution, led by the Nigeria Police Force, argues that Sowore’s posts contained false information designed to cause a breakdown of law and order. His legal team, headed by Marshall Abubakar, has confirmed readiness to challenge the charges in court.

Prominent activist, Deji Adeyanju has condemned the case as an abuse of legal process, vowing a strong defense against what he described as an attempt to silence dissent.

Sowore was arrested on Monday after refusing to comply with police bail conditions.

His detention follows long-standing tensions with authorities, which escalated after he posted a viral video in December, alleging police extortion at a Lagos checkpoint.

DAILY GAZETTE rep Justice Liman, who is expected to rule on the preliminary aspects of the case.

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2027: Form Alliance, Wrestle Power From APC – El-Rufai Urges Opposition

Former Kaduna State Governor Nasir El-Rufai has dismissed speculations about his potential defection from the All Progressives Congress (APC), barely 24 hours after he publicly criticized the state of the ruling party.

Speaking at a national conference in Abuja on Monday, El-Rufai described governance and opposition in Nigeria as a “national emergency.”

The event, focused on strengthening democracy, was organized by the African Centre for Leadership, Strategy and Development, the Centre for Democracy and Development, the Westminster Foundation for Democracy, the Peering Advocacy and Advancement Centre in Africa, and the National Peace Committee.

El-Rufai expressed concern over the lack of internal democracy and active party structures within the APC. “I no longer recognize the APC. No party organ has met in two years, no caucus, no NEC, nothing. You don’t even know if it is a one-man show or a zero-man show,” he said.

The former governor also called for higher standards in political leadership, criticizing the constitutional requirement of a secondary school certificate as inadequate for party nominations.

Reflecting on the party’s founding ideals, he noted that the APC was created to tackle corruption, improve the economy, and strengthen national security.

El-Rufai further urged opposition parties to unite and form a coalition capable of challenging the APC and safeguarding Nigeria’s democracy.

His comments sparked speculation that he might be planning to leave the party, but El-Rufai firmly dispelled such rumors during the closing ceremony of the two-day conference in Abuja.

“I am a founder of the APC. How can I be on my way out?” he asked reporters, reaffirming his commitment to the party.

When questioned about his recent criticisms, El-Rufai clarified, “It is because I want them to change.”

He also acknowledged the challenges Nigerians face under the APC’s leadership, saying, “Honestly, I don’t know. I am also figuring out what to do myself.”

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Trump, Netanyahu To Meet In White House

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu hold a joint press conference in the East Room of the White House in Washington, DC, February 15, 2017. / AFP PHOTO / SAUL LOEB

Israeli Prime Minister Benjamin Netanyahu has received an invitation from U.S. President Donald Trump for a meeting at the White House, scheduled for February 4, 2025, according to a statement from the Israeli Prime Minister’s office.

This marks Netanyahu as the first foreign leader to be invited to meet with Trump during his second term.

A White House official confirmed the invitation, adding that further details about the time and date would be provided once finalized.

The planned meeting follows Trump’s public claim of playing a key role in brokering a ceasefire between Israel and Hamas in Gaza, after months of unsuccessful negotiations.

Following the ceasefire, Trump proposed a controversial plan to “clear out” Gaza, suggesting that Palestinians be relocated to neighboring countries like Egypt or Jordan.

This idea has sparked significant backlash from Egypt, Jordan, and several European nations.

During Trump’s first term, he often referred to Israel as having “never had a better friend” in the White House, a sentiment echoed by Netanyahu.

However, their relationship briefly soured after Netanyahu congratulated Joe Biden on his victory in the 2020 U.S. presidential election. Trump, who falsely claimed to have won, accused Netanyahu of disloyalty.

Despite this, soon after beginning his second term, Trump approved the shipment of 2,000-pound bombs to Israel, a delivery that had been blocked by the Biden administration.

Netanyahu thanked Trump for providing Israel with the means to defend itself.

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Tinubu Returns To Abuja After Attending Tanzania Energy Summit

President Bola Tinubu has returned to Abuja following his participation in the Africa Heads of State Energy Summit held in Dar es Salaam, Tanzania.

The presidential aircraft carrying Tinubu and his delegation landed at the Nnamdi Azikiwe International Airport at approximately 7:40 PM on Tuesday, as reported by the State House media office.

Upon arrival, the President was welcomed by several key government officials, including the Minister of the Federal Capital Territory, Nyesom Wike, and the National Security Adviser, Nuhu Ribadu.

The summit, hosted by Tanzania’s government in partnership with the African Development Bank Group and the World Bank, centered around the “Mission 300” initiative, which aims to provide electricity access to 300 million people in Africa by 2030.

The summit brought together African leaders, private sector stakeholders, development partners, and civil society groups to explore strategies for enhancing energy access across the continent.

Discussions during the summit covered topics such as improving energy access in underserved areas, advancing renewable energy solutions, and promoting energy efficiency.

The event also focused on how to attract private sector investment to support energy infrastructure across Africa.

On the first day, participating countries, including Nigeria, presented their national energy strategies, referred to as compacts, outlining their plans to achieve universal energy access within five years.

On the second day, African leaders endorsed the Dar es Salaam Energy Declaration, which sets out a clear roadmap for Africa’s energy progress towards the Mission 300 goal.

In his address, President Tinubu reaffirmed Nigeria’s commitment to universal energy access and emphasized Nigeria’s leadership role in Africa’s energy sector.

He also highlighted ongoing clean energy initiatives in Nigeria and the country’s broader strategy for integrated energy delivery across the continent.

The President was accompanied by several senior officials, including the Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, the Minister of Power, Adebayo Adelabu, and the Special Adviser to the President on Energy, Olu Verheijen.

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PDP Is Dead Because Of Your Desperation To Be President – APC Knocks Atiku

The All Progressives Congress (APC) has condemned former Vice President Atiku Abubakar’s recent claim that President Bola Tinubu’s administration bribed opposition parties with N50 million each to destabilize their leadership ahead of the 2027 elections.

Atiku made the allegation while participating as a panellist at a national conference on strengthening democracy in Nigeria, held in Abuja on Monday.

The conference was organized by the African Centre for Leadership, Strategy and Development, the Centre for Democracy and Development, the Westminster Foundation for Democracy, the Peering Advocacy and Advancement Centre in Africa, and the National Peace Committee.

Atiku, speaking on the country’s democratic trajectory, alleged that some opposition party leaders openly confessed to receiving N50 million each from the current government.

He warned that Nigeria’s democracy was at risk if the country continued on its current path.

In response, Felix Morka, the National Publicity Secretary of the APC, dismissed Atiku’s accusations as “bogus and laughable,” labeling them a sign of the former Vice President’s growing political desperation.

Morka further criticized Atiku for resorting to baseless allegations and rumors, which he described as unbecoming of someone who had held high office and had repeatedly contested for the presidency.

“Atiku’s allegation about the APC government paying out N50 million to opposition figures is absurd and entirely unfounded. It’s clear that Atiku’s desperation is responsible for the collapse of his party, the PDP,” Morka stated.

He also took issue with remarks made by Atiku, Labour Party leader Peter Obi, and former Kaduna State Governor Nasir El-Rufai, who suggested that the APC might be behind the internal turmoil within opposition parties.

Morka accused these figures of deflecting blame for their own party’s disarray, pointing out their inability to manage their internal affairs.

“The ridiculous claims by Atiku, Peter Obi, and El-Rufai about the APC’s involvement in opposition crises are simply an excuse for their failure to handle their own political organizations. These leaders, who couldn’t govern their parties, now claim they are fit to govern the country. Atiku’s PDP is infamous for its power grabs in the South-West, and we will not forget how his former boss, Obasanjo, called elections a ‘do or die affair’ in a desperate attempt to control Lagos,” Morka concluded, stressing that Nigerians deserve better than this kind of political maneuvering.

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Full List: 3,690 Nigerians Affected As 1.4 Million Face Deportation In US

As part of his ongoing crackdown on illegal immigration, President Donald Trump’s administration has announced that 3,690 Nigerians in the United States are at risk of deportation.

The U.S. Immigration and Customs Enforcement (ICE) revealed this information in a document detailing non-citizens with final removal orders, which was seen by our correspondent on Tuesday.

Below are the lists:

According to the document, as of November 24, 2024, a total of 1,445,549 non-citizens are on ICE’s non-detained docket awaiting deportation.

Mexico and El Salvador have the highest numbers, with 252,044 and 203,822 people respectively facing deportation.

The document, titled “Noncitizens on the ICE Non-Detained Docket with Final Orders of Removal by Country of Citizenship,” provides a breakdown by nationality, emphasizing the growing scope of the deportation effort.

ICE is responsible for enforcing laws to protect the U.S. from cross-border crime and illegal immigration, which Trump has prioritized during his second term.

Last Thursday, the U.S. authorities launched a large-scale deportation operation, arresting hundreds of migrants and flying others out of the country on military aircraft.

With Trump’s continued war on illegal immigration, Nigerians and other African nationals are now feared to be the next targets of deportation.

This has caused anxiety among Nigerian immigrants who are in the U.S. unlawfully.

Since his inauguration, Trump has enacted executive orders to intensify immigration controls, including ending birthright citizenship for children of undocumented immigrants.

His administration has also declared a national emergency at the southern border with Mexico, sending additional troops to the area and vowing to deport “criminal aliens.”

Meanwhile, diplomatic tensions have arisen over the deportation process. Colombian President Gustavo Petro initially blocked U.S. military planes from carrying deported migrants back to Colombia, citing concerns over inhumane treatment.

However, after a series of threats from Trump, including imposing tariffs and sanctions on Colombia, Petro agreed to allow the deportation flights, and the U.S. has held off on additional penalties for now.

The situation remains fluid as both countries continue to negotiate the terms of deportation flights, with Trump’s administration threatening further economic measures if Colombia does not comply.

The latest deportation statistics highlight the broader global issue of migration and the political tensions it often creates between nations.

The list of countries most affected by the U.S. deportation effort continues to grow, with many fearing the implications for international relations and the lives of migrants caught in the process.

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Egbetokun Drags Sowore To Court For Calling Him ‘Illegal IG’

Omoyele Sowore, a former presidential candidate and activist, is set to be arraigned at the Federal High Court in Abuja on Wednesday, January 29, 2025, for allegedly defaming the Inspector General of Police (IGP), Kayode Egbetokun.

Sowore’s lawyer, Marshall Abubakar, confirmed to our correspondent that charges have been filed against the rights activist, who was detained by the police on Monday.

The charges stem from Sowore’s social media posts, which allegedly contained defamatory statements about Egbetokun.

According to the charge sheet, Sowore called the IGP “illegal” in messages posted on his verified X (formerly Twitter) account.

Sowore, who was arrested for refusing to accept administrative bail, faces three counts under the Cybercrime (Prohibition, Prevention, Etc.) Act of 2015, as amended in 2024.

The police accuse Sowore of intentionally disseminating false information aimed at inciting disorder and damaging the reputation of the IGP and the Nigeria Police Force.

The charge includes Sowore’s statements made on December 13, 2024, where he allegedly referred to Egbetokun as the “illegal IGP,” which the police say was meant to provoke unrest.

Further posts on December 20, 2024, also purportedly contained inciteful remarks, linking the IGP to potential unrest and future protests in the country.

Sowore is now facing serious legal consequences for his online actions, with the court set to hear the case on Wednesday.

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Enugu Police Commissioner Hosts New DSS State Director, Reaffirms Commitment To Collaboration

The Commissioner of Police, Enugu State Command, CP Kanayo Uzuegbu, on Tuesday received the new State Director of the Department of State Services (DSS), Mr. Humphrey Ohikuare, during a courtesy and familiarisation visit at the State Police Headquarters, GRA, Enugu.

Welcoming Mr. Ohikuare and his team, CP Uzuegbu emphasized the critical need for a robust partnership between the Police and the DSS.

He described the two agencies as “inseparable sides of the same coin,” highlighting the importance of seamless collaboration in achieving effective security management in the state.

The Commissioner reaffirmed the Police Command’s unwavering commitment to working closely with the DSS and other security stakeholders to ensure peace and safety in Enugu State.

In response, the DSS State Director expressed his gratitude for the warm reception and outlined the purpose of his visit, which was to formally introduce himself and seek the continued cooperation of the Police in addressing security challenges across the state.

The meeting, attended by senior members of the Commissioner’s management team, served as a platform for exchanging ideas and reaffirming the shared vision of a secure and peaceful Enugu State.

Both leaders pledged to strengthen their collaboration to enhance the state’s security architecture.

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