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THE GREAT HINDSIGHT INQUIRY: How A Top-Secret Location Set The Stage For The Ultimate PFIPC DG Interrogation!.
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The House of Representatives ad hoc committee probing the activities of the disputed Presidential Foreign Investment Promotion Council (PFIPC) announced it will question the purported Director-General, Adeniyi Adeyemi, at a private location.....KINDLY READ THE FULL STORY HERE▶
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Committee Chairman Yusuf Gagdi explained during a public hearing that Adeyemi remains in police custody under a valid court order, noting that the National Assembly respects the separation of powers and cannot override judicial mandates.
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Gagdi stated that the closed-door session with Adeyemi—to be attended by his lawyers and formally communicated to the police—is necessary because the case is also actively under investigation by the EFCC, the ICPC, and other agencies.
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During the same hearing, Divine Dopacy Nigeria Limited Managing Director Gbenga Collins testified that he paid ₦400 million to Adeyemi after being promised a contract to renovate and furnish the purported agency’s official residence.
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The committee chairman stated that the public hearings will continue and that the panel plans to finalize and submit its report to the House of Representatives once lawmakers resume plenary.
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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:
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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.
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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▶
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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.
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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.
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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.
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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▶
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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
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Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
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Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
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