Naira plunges in free float against US dollar

The naira plunged against the US dollar on Monday after Nigeria’s government scrapped its fixed exchange rate and allowed market forces to determine the currency’s value. “Trading started at 9:00 am (0800 GMT) this morning. All the 24 commercial banks are participating. The offer is 249 to 265 naira to the dollar,” one forex trader told AFP. At 1000 GMT, the naira was quoted at 262.50 against the dollar but the trader, who asked to remain anonymous, said supply and demand were still in the process of being matched. “All the bids will be put on the table and the rate will based on the offers,” the trader said. Analysts say the naira may settle in at around 250, compared with 350 to the greenback on the black market. Nigeria had pegged the naira to the dollar at 197-199 since March 2015, even as other oil exporters have let their currencies devalue in the wake of plunging global crude prices. President Muhammadu Buhari has previously said he would not “kill the naira” by letting it devalue. But central bank governor Godwin Emefiele said last week the currency market would now be “purely market driven” as the country grapples with spiralling inflation, slowing growth, the weakening naira and foreign exchange shortages.

Source: Vanguard

BREAKING: Pastor Osagie Ize-Iyamu Wins PDP Primaries In Edo

Pastor Osagie Ize-Iyamu, the former Secretary to the Edo State Government, has emerged as the winner of the governorship primaries of the Peoples Democratic Party in Edo State with a landslide victory.

He polled 584 votes to defeat his opponents, Matthew Iduoriyekemwen  (91 votes) and Chief Solomon Edebiri (38).

A total of 740 delegates participated in the primaries held at the Dr. Samuel Ogbemudia stadium.

Security was beefed around the stadium to prevent hoodlums from gaining access to the venue.

Governor denies ordering Muslim students to wear Hijabs

The Governor of Osun state, Rauf Aregbesola has denied ordering female Muslim students to wear Hijabs (covering for female Muslims) to school.
This is coming after Christian students in the state defiantly showed up in various schools with garments and robes.

The Christian Association of Nigeria (CAN) vowed to call out its members to oppose the order.

Speaking on the matter, Aregbesola said:

"Let me say this there is no official pronouncement on hijab. I have not ordered the use of hijab in schools and I challenge them to bring evidence.

“It might interest you that my wife does not use hijab, my daughter does not use hijab. So, I did not order the use of hijab.

“My view on Islam is why I am suffering unmerited persecution. My crime is that I struggle to be a good Muslim and not because I hurt anybody."

Source: PulseNG

CONFESSION: Nigerian Suya Man Who Roasts Vultures As Chickens Caught

He was caught catching vultures with snuff in Onne, Port Harcourt, with intentions of using them as roasted chicken for people to buy.
He confessed he had been doing this business for sometimes now. Please those of you that eat roasted chicken from road side need to be more careful and beware, This man succeeded in mixing up his roasted chickens with roasted vultures without getting caught for a long time and customers have been buying and eating.

He Confessed in a video when the angry mob tortured him to confess

He may have been caught outside your state but this could happen anywhere.



Source: Tipsupdate.org

Breaking: Nnamdi Kanu arrives court with ‘I love Biafra’ wrist-band

Leader of the Indegenous People of Biafra, IPOB and Director of Radio Biafra, Mazi Nnamdi Kanu, was on Monday, arraigned along two others at the Federal High Court, Abuja. Kanu who is being charged on a six-count of treasonable felony for operating a pirate radio, Radio Biafra, arrived the court premises, ‘unapologetically’ wearing on his right hand, a wrist-band with inscription ‘I love Biafra.’ See photo below:

Nnamdi Kanu arrive the Federal High Court, Abuja, on Monday, June 20, 2016

Source: Vanguard

Thugs stand guard at the gate of PDP Headquaters in Abuja

Thugs reportedly loyal to embattled PDP National Chairman, Senator Ali Modu Sheriff have camped at the gates of PDP Headquaters in Abuja.

The thugs who came equipped with sticks and other weapons, have vowed that nobody except Ali Modu Sheriff and his loyalists would be allowed into the premises.

Lagos Commences Internship Scheme For Students Of Tertiary Institutions

The Lagos State Government has commenced an internship scheme for final year students of tertiary institutions across the State tagged ‘Ready, Set, Work,’ an initiative aimed at equipping fresh graduates with necessary skills to become job creators rather than job seekers.

The scheme, which is being anchored by the State’s Ministry of Education, commenced on June 11, 2016 with the training of over 1,500 students on basic digital skills.
The scheme is an intervention of the Lagos State Ministry of Education, aimed at providing Entrepreneurship and Employability training skills for final year students in Lagos State tertiary institutions.
Over 2,000 students filled the application form for the programme, out of which 500 were selected to participate in the pilot edition.
Special Adviser to Governor Akinwunmi Ambode on Education, Mr. Obafela Bank-Olemoh, in a statement on Tuesday disclosed that on the first day of the programme, students of Lagos State University, (LASU), Lagos State Polytechnic (LASPOTECH), and Lagos State College of Health Technology (LASCOHET) gathered at the Main Auditorium of the Lagos State University, Ojo, to register for a digital training session by Google on some basic digital skills.
He added that the pilot scheme of the internship training would run for 13 consecutive Saturdays between June and September, commencing with a general module on soft skills, and followed by two specialized tracks in employability or entrepreneurship.
According to him, top performing students in the employability track will be placed on 6-month internship positions at partner organizations, including PricewaterhouseCoopers, SystemSpecs, Guaranty Trust Bank, First City Monument Bank, and Access Bank; while students in the entrepreneurship track with viable business models will have the opportunity to pitch to a panel of investors.
He said Seed Funding would also be made available to students with the best business ideas through the Lagos State Employment Trust Fund and other funding agencies.

Source: Olofofounited.com

WOW! TAKE A LOOK AT HOW OVER 10,000 MUSLIM PAKISTANIS ACCEPTED JESUS IN ONE NIGHT

Pastor Anwar Fazal sharing the Gospel in the Islam dominated country touching millions in Pakistan.

Senior Pastor Anwar Fazal from Eternal Life Ministries (ELM) arranges a big Healing Crusade every Wednesday in Lahore in Pakistan and thousands of People attend every week in Lahore. It is reported as the biggest Healing Meetings in Pakistan by far. Gospel will not stop, but it will go to the ends of the world.

At one of the rallies, 10,000 Muslims accepted Christ in one night, and over the course of the week-long rally there were many miraculous healings and more than 150,000 Muslims were saved out of 200,000 that attended. The personage of Christ himself has been appearing to Muslims across the Middle East in the form of visions, admitting that He is indeed the King of King and Lord of Lords, and that He will soon be returning to claim His throne.

The Work that ELM church does, and the incredible feeling of hearing 10,000 Muslims shouting, “Hallelujah! Hallelujah! Hallelujah!” as they violating the certain death sentence imposed for those who leave Islam and accept Christ as their Lord and personal Saviour.

The number of Christians attending the meetings are alarming. Generally Christians in Pakistan face persecution from the government and other officials. However, these brothers in Christ are persistent in their Faith in Jesus Christ. We pray that Pakistan would know that Jesus Christ is the only way to heaven.

Their Daily Broadcast in ISSAC TV is watched by thousands of Christians in Pakistan, which is by far the most watched Christian Channel in Pakistan.

FOUR BANKS QUALIFY AS CBN FOREIGN EXCHANGE DEALERS

The flexible foreign exchange regime begins from Monday and as banks begin to settle into it, the Central Bank of Nigeria, CBN, is set to name the lead players in the foreign exchange market today.

The lead players are called Foreign Exchange Primary Dealers, FXPD.
Though CBN’s guidelines indicated that about 8 or 10 banks would be registered as FXPD, but sources say about four banks are fully qualified, considering their examined financial positions as at end of 2015 and first quarter of 2016.

The apex bank would consider shareholders funds, liquidity ratios and volume of foreign currency assets of banks in arriving at top 10 that would be registered as FXPDs. Additional requirements may include capital adequacy ratios and historical volume of bids recorded in the CBN weekly forex market regime due to be phased out today.

FirstBank, Zenith, UBA, GTB qualify for FXPD. These four banks that have fully met the criteria, Further analysis of the top 10 banks in the country, using CBN’s criteria, shows that about four others may have also qualified with additional four close to meeting the benchmark. The banks are Access Bank Plc, Diamond Bank Plc, FCMB Plc, Fidelity Bank Plc, which have some of the key requirements as at end of 2015 and are expected to have qualified by the first quarter of 2016.

Access Bank, GTB, FirstBank, Zenith and UBA have been leading in volume of bids and allocation of foreign exchange from the CBN weekly foreign exchange trading since last year.
Other banks expected to fight for the ninth and tenth positions if CBN decide to move up the list, includes Stanbic IBTC Bank Plc, Skye Bank Plc and Sterling Bank Plc, but their financial positions could not be established due to non-availability of their financial reports as at end of 2015 and first quarter of 2016.

Also, Ecobank Nigeria is expected to make the top 10 but their financial reports were US dollar denominated and could not be immediately translated into Naira due to the transitional exchange rate as at today.
CBN had indicated a two-level trading structure where the apex bank would deal on wholesale basis with some banks that would in turn transact with other banks to be known as non-primary dealers, and other dealers at lower retail volume.

Why ‘State Of Origin’ Must Be Scrapped – Melaye

Senator Dino Melaye, representing Kogi West at the upper chamber has called for the scrapping of ‘State of origin’, especially in determining the eligibility of citizens for political offices.

He made this assertion on Friday at a ceremony to unveil the logo/medal of the Peace Corps of Nigeria (PCN) in commemoration of is 18th anniversary.

He said: “Ethnic bigotry should be shunned; there should be a replacement of the state-of-origin to unite the country.

“Any responsible person that has lived in a particular place for a certain number of years can aspire to any political position, including that state’s governor seat.”

He called for the “rebirth” of the country, and challenged youths to guard against moral decadence.

“There is also the need for the review of the educational system so as to teach more morals, values and culture with a view to building falling walls”, Melaye said.