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Dollar Surges Again as Black Market Rate Hits ₦1,473 in Lagos.

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The dollar-to-naira exchange rate continued to draw significant public attention on Saturday as traders in the Lagos parallel market adjusted selling and buying prices. According to Nivo News, dealers at the black market exchanged the United States dollar at ₦1,473 for selling and ₦1,460 for buying on November 22, 2025, based on figures obtained from Bureau De Change operators.....KINDLY READ THE FULL STORY HERE▶

Financial observers note that the Central Bank of Nigeria maintains its position that the parallel market remains unofficial and therefore unrecognized. The apex bank reiterates that individuals seeking foreign exchange should approach authorized financial institutions rather than relying on roadside currency dealers.

At the official window, the CBN recorded a highest exchange rate of ₦1,462 and a lowest of ₦1,453 for the dollar on the same day. Market analysts caution that forex prices may vary across different locations and traders, advising Nigerians to confirm rates before carrying out transactions.

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Fresh Trouble For Nine Universities As Reps Uncover Alleged Financial Discrepancies

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The House of Representatives Committee on University Education has commenced an investigation into alleged financial irregularities involving nine federal universities and other tertiary institutions, demanding explanations from their managements over the utilisation of public funds.....KINDLY READ THE FULL STORY HERE▶

The committee also ordered the Vice-Chancellor of the University of Lagos (UNILAG), Professor Folasade Ogunsola, to submit the institution’s budget records for 2024, 2025 and 2026 and appear before lawmakers next week over an alleged ₦7.1 billion discrepancy in its financial records.

The committee chairman, Abubakar Fulata, disclosed this on Saturday in a statement issued after an oversight visit to universities and inter-university centres across the South-West.

According to him, the exercise revealed inconsistencies in financial reports, inadequate transparency and possible violations of budgetary regulations in some of the institutions.

Fulata questioned how certain universities arrived at their reported revenue and expenditure figures, particularly where the amounts declared did not tally.

He said, “In some cases, the documents submitted contradict each other. You claimed to have generated N9bn and spent N10bn—where did you get the N1bn from?

“In another instance, you will see N12bn generated as income and only N8bn spent, without any information regarding the whereabouts of the balance of N4bn.”

The lawmaker urged vice-chancellors and their management teams to uphold transparency and accountability, stressing that public universities must properly account for both government allocations and internally generated revenue.

He noted that effective financial management was crucial to improving the quality of university education and ensuring that public funds were spent on approved projects and programmes.

The committee chairman also insisted that preparations for the 2027 general elections would not distract lawmakers from carrying out their constitutional oversight responsibilities.

He said the committee would continue monitoring public institutions to ensure that no sector was neglected because of election-related activities.

The lawmakers also urged university authorities to comply with the federal character principle in staff recruitment and student admissions to promote fairness and equitable representation.

As part of its directives, the committee instructed the University of Lagos, Obafemi Awolowo University, Ile-Ife, Federal University Oye-Ekiti, Federal University of Technology, Akure, and Federal University of Health Sciences, Ila-Orangun, to update their financial records and submit comprehensive reports on the implementation of their 2024, 2025 and 2026 budgets.

Ogunsola was reportedly unavailable during the committee’s visit to UNILAG. Officials who represented her were also unable to provide satisfactory explanations for the alleged ₦7.1 billion excess recorded in the institution’s 2024 and 2025 financial records or supply additional details requested by the lawmakers.

Other institutions visited by the committee included the University of Ibadan, Adeyemi Federal University of Education, Ondo, Federal University of Agriculture and Development Studies, Iragbiji, Federal University of Technology and Environmental Studies, Iyin-Ekiti, and the Nigeria French Language Village, Badagry.

The committee explained that the exercise was part of the National Assembly’s constitutional responsibility to scrutinise public expenditure, assess budget implementation and ensure that government institutions properly utilise funds allocated to them.

It added that the investigation was aimed at strengthening financial accountability and addressing administrative shortcomings that could undermine the delivery of quality university education.

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Shehu Sani Backs Fani-Kayode, Calls For ‘Sakiya’ Diplomacy With South Africa.

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Former Kaduna Central Senator, Shehu Sani, has expressed support for Nigeria’s ambassador to South Africa, Femi Fani-Kayode, describing him as the right person to manage the country’s diplomatic relations with South Africa amid the ongoing controversy over his treatment by the South African authorities.....KINDLY READ THE FULL STORY HERE▶

Sani argued that South Africa needed a representative who could respond appropriately to different situations, depending on the approach adopted by the other party.

The former lawmaker made the remarks in a post shared on his X handle on Sunday.

“Fani Kayode is the best choice for South Africa at this material time. They need someone who can switch to any mode when the occasion demands for it. If you speak diplomacy you get diplomacy, if you speak ‘sakiya’ you get ‘Sakiya’,” he wrote.

His comments come amid rising diplomatic tensions between Nigeria and South Africa following allegations by the Nigerian High Commission and the South African Presidency over the reported exclusion of Nigeria’s ambassador from a livestream of a diplomatic ceremony.

Fani-Kayode had accused the South African Presidency of deliberately leaving Nigeria’s delegation out of the livestream of the presentation of his letter of credence to President Cyril Ramaphosa on Friday.

The ceremony, which took place in Pretoria, involved 15 ambassadors presenting their letters of credence to the South African leader.

The allegation sparked an exchange of claims between the Nigerian High Commission and the South African Presidency, triggering reactions from Nigerians and South Africans across social media platforms on Saturday.

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Abiodun Launches Massive Grassroots Campaign, Unveils 50,400 Renewed Hope Apostles.

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Ogun State Governor, Prince Dapo Abiodun, has inaugurated 50,400 grassroots political mobilisers, known as Renewed Hope Apostles, across the state as part of the All Progressives Congress (APC)’s strategy to secure victory in the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The initiative will see the canvassers conduct coordinated door-to-door campaigns across Ogun State’s 236 wards, with the aim of strengthening grassroots engagement, expanding the party’s support base and informing voters about the achievements of APC-led governments at the federal, state and local government levels.

Abiodun announced the initiative during a series of strategic meetings with party leaders and stakeholders across the state’s 20 local government areas. The meetings were attended by local government and ward executives, council chairmen, councillors, governorship and other party candidates, party elders, governors’ liaison officers and political appointees.

The governor explained that the Renewed Hope Apostles would serve as the party’s grassroots communication and mobilisation network, taking information about government policies, programmes and achievements directly to residents.

He said the initiative was also aimed at tackling misinformation and ensuring that voters understood how government policies and projects affected their daily lives.

“We have called them the Renewed Hope Apostles. They will now begin to propagate so that the people can be better informed because when there is no information, there is misinformation, and that is what we are addressing.

“In the first instance, in Ogun East, we have 15,000 of them, and across the state, we have 50,400. We expect them to multiply and spread the gospel of the party’s performance,” he said.

Abiodun disclosed that the canvassers were selected from different local government areas and organised around polling units to ensure that the campaign reached voters at the community level.

According to him, the recruitment and verification process lasted approximately three months, during which the necessary details of the participants were compiled and verified to establish an effective and accountable mobilisation structure.

He added that the canvassers would be equipped with information about the achievements of President Bola Tinubu’s administration and the Ogun State Government to enable them to explain the impact of APC policies to residents.

Abiodun highlights Tinubu’s projects in Ogun

Speaking on the impact of the Tinubu administration on Ogun State, the governor listed the reconstruction of the Sagamu-Ijebu-Ode-Ore Road, the Lagos-Calabar Coastal Highway, the facilitation of the Gateway Deep Sea Port, the revival of the Ogun LNG project and the establishment of a major Customs facility in the state.

He said the projects, alongside other federal interventions, were improving Ogun’s economic prospects, attracting investments, creating employment opportunities and strengthening its position as one of Nigeria’s leading industrial destinations.

Abiodun described the economic and policy decisions introduced by Tinubu as necessary measures that had helped stabilise the national economy and placed it on a path towards sustainable growth.

Ogun government lists achievements across sectors

The governor also highlighted the achievements of his administration in infrastructure, housing, education, healthcare, agriculture, energy and economic empowerment.

He disclosed that his government had constructed more than 1,700 kilometres of roads across the state’s three senatorial districts, rehabilitated and constructed over 1,600 schools, and provided more than 7,000 housing units currently occupied by residents.

In the health sector, Abiodun said 160 Primary Healthcare Centres had been equipped and upgraded as part of his administration’s plan to establish at least one functional primary healthcare facility in each of the state’s 236 wards.

He added that contracts had recently been awarded for the construction of new hospitals in Odogbolu, Isara and Itori, while the Olabisi Onabanjo University Teaching Hospital had been repositioned to improve healthcare delivery.

The governor also announced the completion of the 250-bed Gateway Medical Centre of Excellence in Abeokuta, which he said had been abandoned by previous administrations.

On electricity, Abiodun said his government had established two independent power plants in Abeokuta to support industrial and social activities.

He further disclosed that more than 20,000 farmers had benefited from the distribution of agricultural inputs, including pesticides, fertilisers, seedlings and tractors.

According to him, over 60,000 women had received support through the Oko Owo Dapo initiative, while cooperative societies and artisans had benefited from more than ₦1 billion in financial assistance to expand their businesses.

In education, the governor said his administration had recruited and deployed more than 7,000 teaching personnel to address manpower shortages in public primary and secondary schools.

Abiodun also highlighted the state’s aviation project, noting that beyond developing a world-class airport, his administration had established an airline whose aircraft had commenced international operations from Lagos to Bangui.

Abiodun urges APC members to unite ahead of 2027

The governor charged the newly inaugurated Renewed Hope Apostles to carry out their duties with commitment, discipline and a clear understanding of the party’s achievements.

He said their responsibility was to engage voters, address their concerns and mobilise support for the APC ahead of the 2027 elections.

Abiodun also appealed to party leaders and members to set aside personal differences and work together to secure the party’s electoral success.

He maintained that unity and effective grassroots coordination were essential to achieving the party’s objectives.

“A divided party cannot win an election. We must work together as a team, strengthen our relationships and ensure that every member understands the importance of this assignment,” he said.

The governor explained that the meetings with party stakeholders were also designed to strengthen internal cohesion, review mobilisation strategies and establish a common direction ahead of the elections.

Prominent APC leaders, including the state chairman, Chief Yemi Sanusi; Director-General of the Presidential and Governorship Campaign Council, Senator Lekan Mustapha; Deputy Director-General, Dr Apaye; Ogun East Senatorial Chairman, Chief Adeleke Adedotun; and APC Chairman in Odeda Local Government, Hon. Musulumi Saka, pledged their support for the party’s success.

They assured the governor of their readiness to mobilise members and supporters across their constituencies in support of President Tinubu, Governor Abiodun and other APC candidates.

The inauguration and stakeholder engagements have so far covered Remo North, Sagamu, Ikenne, Ijebu North East, Ijebu-Ode, Odogbolu, Ijebu East, Ijebu North, Ifo, Ewekoro, Abeokuta North, Abeokuta South, Odeda and Obafemi-Owode local government areas.

The engagements form part of a wider political outreach programme by Abiodun, who has also held consultations with religious organisations, traders, artisans, traditional worshippers, labour leaders and cooperative societies to build broader support for the APC ahead of the 2027 general elections.

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