latest
The Mineral Monopoly: FG Breaks Silence On Alleged Handover Of Nigeria’s Wealth To China!.
Minister of Solid Minerals Development Dele Alake has refuted accusations that he is surrendering Nigeria’s mineral resources to Chinese interests, dismissing the claims as a misleading misinformation campaign.....KINDLY READ THE FULL STORY HERE▶
In a statement issued by his Special Adviser on Media and Strategy, Kehinde Bamigbetan, the ministry responded to a report by Steve Kefas. Bamigbetan asserted that the allegations were an attempt to pressure the ministry and discredit the minister in retaliation for the revocation of mining licenses held by Basin Mining Limited—a reported Nigerian subsidiary of the British-Australian firm Jupiter—over unpaid statutory fees totaling billions of naira.
The media aide defended the administration’s global outreach, noting that Alake has actively engaged investors from Europe, America, Canada, Australia, and other regions, attending major international forums such as the London Mines and Money conference and the Mining Indaba in Cape Town. He emphasized that the policy of opening the solid minerals sector to international participation dates back to the 1990s and that Nigeria remains open to global investors under strict compliance with local laws. Furthermore, Bamigbetan highlighted the government’s core policy of demanding local value addition, which requires mining operators to process raw minerals within Nigeria, alongside ongoing regulatory and security reforms aimed at driving economic growth in the sector.
During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶
Additional context regarding the political exchange includes:
-
Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.
-
Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.
During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶
-
Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.
-
Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.
-
Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.
-
Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶
-
-
Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.
Key Advisory Notes
-
Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
-
Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
-
-
latest11 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp