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Former Presidential Aide Attributes Naira’s Decline To Crypto Exchange Platforms
Former Presidential Aide Attributes Naira’s Decline To Crypto Exchange Platforms....KINDLY READ THE FULL STORY HERE▶
A former aide to President Buhari, Bashir Ahmad, has pointed fingers at cryptocurrency exchange platforms for the consistent depreciation of the Nigerian currency in the foreign exchange market.
Expressing concern over the dwindling value of the naira against the dollar, Ahmad emphasized the heavy reliance of many Nigerians on crypto platforms, which lack the authority to regulate currencies in the country………..CONTINUE READING
In a post on his official X account, Ahmad urged immediate action to address the situation, noting that these platforms often dictate exchange rates, subsequently influencing rates in the Bureau De Change market.
“To be honest, the crypto exchange platforms are causing more harm than good to our system. Many people are relying on these platforms that have no business being our forex regulator to get their exchange rates. When the rate goes up on these platforms, it automatically goes up in the Bureau De Change. It should be fixed!” Ahmad wrote.
Reports indicate that on Tuesday, February 20, 2024, traders were buying a dollar for N1800 and selling it at N1825, reflecting the ongoing devaluation of the naira.
The persistent devaluation has resulted in hardships for Nigerians, as prices of commodities continue to soar.
Earlier, Hans Essaadi, the Chief Executive Officer of Nigerian Breweries Plc, remarked that due to the current economic challenges in Nigeria, citizens are finding it increasingly difficult to afford beer.
According to Bloomberg, Nigerian Breweries incurred a foreign exchange loss of N153 billion attributed to the devaluation of the naira for the year ending December 2023.
In response to rising input costs, Nigerian Breweries adjusted the prices of its products upwards in August 2023.
Among the popular alcoholic beverages produced by Nigerian Breweries are Star Lager, Gulder, Legend Extra Stout, Heineken, Goldberg, Life, and Star Radler.
The African Democratic Congress (ADC) has rejected reports suggesting it may not present candidates in the 2027 general elections in Nigeria.....KINDLY READ THE FULL STORY HERE▶
In a statement issued on Saturday by the party’s National Publicity Secretary, Bolaji Abdullahi, the ADC described the claims as false, misleading, and intended to cause unnecessary confusion.
The party reaffirmed its commitment to its mission of unseating the All Progressives Congress (APC) through the ballot, stressing that it remains focused on delivering change.
Abdullahi assured that the ADC would field strong and qualified candidates in 2027, adding that the party is not distracted by rumours or political propaganda.
According to the statement, the ADC emphasized that it remains committed to rescuing Nigeria from what it described as the failures of the APC-led government and preventing the emergence of a one-party system.
The party also dismissed suggestions that it faces any legal barrier to participating in the elections, insisting it is fully compliant with the Constitution and the Electoral Act.
It further stated that preparations are already underway nationwide to mobilize Nigerians frustrated with insecurity, economic hardship, and lack of opportunities.
Reaffirming its position, the ADC described itself as a leading opposition force and urged supporters to ignore speculation about its electoral plans, stressing that its focus remains on building a winning structure for 2027
A chieftain of the African Democratic Congress (ADC), Kenneth Okonkwo, has said that any aspirant who leaves the party after failing to secure its presidential ticket is indirectly working for President Bola Tinubu.....KINDLY READ THE FULL STORY HERE▶
Okonkwo made this statement on Saturday during an interview on Channels Television, insisting that such a move amounts to being politically compromised.
He maintained that any presidential hopeful who exits the party simply because they did not get the ticket is not acting in good faith.
His comments come amid growing speculation that former Anambra State governor, Peter Obi, may defect from the ADC to the Nigerian Democratic Congress (NDC).
He said, “Well, if he leaves, will he now be a mobile squatter? If anyone who doesn’t get the ADC presidential ticket leaves the party for another platform, he is compromised and working for Tinubu.”
Meanwhile, Okonkwo has also accused members of the “City Boy Movement” (CBM) of sacrificing their principles for personal benefit.
In a recent interview on Symfoni TV, he described the group supporting President Bola Tinubu’s re-election bid as political opportunists.
He further argued that their alignment reflects what he called dependence on “crumbs” from the presidency.
According to him, the Igbo people have distanced themselves from such political alignment, stressing that some individuals endorsing the President do not represent the collective interest or dignity of Ndigbo.
He said, “The Igbo have rejected them. It is an insult to Ndigbo. We wear our Isiagu because we hunt for our food with dignity, like lions, and eat fresh meat. We don’t scavenge like vultures.”
He further described those seeking political favour through the movement as “political children drinking from the feeding bottle of Tinubu,” adding that he prefers to maintain personal dignity rather than seek relevance through what he termed “rotten crumbs.”
Okonkwo, who has become a prominent opposition voice in recent years, also noted that he has built his livelihood through his skills and talent rather than relying on political patronage.
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Portable Shifts From Ring To Family Joy As He Welcomes Son With Wife Bewaji After Boxing Defeat.
Nigerian singer Portable has announced the birth of a baby boy with his partner, Omobewaji Ewatomi, popularly known as Bewaji.....KINDLY READ THE FULL STORY HERE▶
reports that the news broke on Friday after Bewaji shared a post on Instagram expressing joy over a safe delivery and introducing their newborn son, named Jamal Iremide. Portable later confirmed the arrival on his own social media page, where he thanked Bewaji and celebrated the newest addition to his family. Interestingly, the baby was born on the same day Portable suffered a defeat in a celebrity boxing match against Carter Efe, which ended in a unanimous decision in favour of Carter Efe. Despite the loss in the ring, Portable expressed greater excitement about becoming a father again, saying the moment meant more to him than the fight. He revealed that the child was born while he was still involved in the boxing event. He wrote: “God bless you more, Omoleye Omobewaji mi. Thanks for making me happy. I have given birth, congratulations to me. I thought I would carry a belt, but I carried my child instead. You can buy a belt with money, but you can’t buy a child. “While my wife was in labour, I was fighting. She gave birth to a boy. I wanted a third belt for my children; I already have two. I have given birth, you can have the belt.”
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