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Niger: N13bn Lost Weekly Due To Border Closure – Northern Traders
Northern traders have lamented the loss of about N13bn weekly due to the closure of borders in the region over the ongoing crisis in Niger Republic.
Daily Trust reports that President Bola Tinubu had on August 4 ordered the closure of all borders with Niger Republic which the Nigerian Customs have now enforced.
The borders include Jibiya in Katsina state, Illelah in Sokoto and Maigatari in Jigawa.
Addressing a press conference in Abuja on Sunday, the chairman, Arewa Economic Forum Ibrahim Yahaya Dandakata, said the economic consequences of the closure is becoming unbearable for traders, while urging the federal government to open the maje-illo border in Kebbi to allow traders bring in goods to the country.
Forex crisis: Marketers propose N720/litre, suspend fuel import
Oil marketers, on Sunday, indicated that the cost of Premium Motor Spirit, popularly called petrol, would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
The warning came barely one week after the local currency crossed the N900/dollar ceiling, with the naira selling at over 945/dollar at the parallel market on Friday.
NJC dismisses ‘fake’ letter; retains judicial powers to appoint, promote judges
The National Judicial Council (NJC) has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on Judges’ appointments and promotions to State Governors.
The NJC said the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, did not emanate from the Council or the CJN who is the Chairman of the Council.
A statement on Sunday by the NJC’s Director of Information, Mr Soji Oye, said, there was no iota of truth whatsoever in the fake letter.
COUP: We struck to avert threat against Nigeria, Niger — Gen Tchiani
Leader of the military junta in the Republic of Niger, General Abdourahmane Tchiani, said weekend that the coup in which they overthrew President Mohammad Bazoum was well intended and was carried out to avert an imminent threat that would have affected not only the Niger Republic but also Nigeria.
This came as the Catholic Bishops Conference of Nigeria, CBCN, for the second time in a week, appealed to the Federal Government to take head-on, the corruption, insecurity and skewed appointments in the country, rather than declaring war on Niger Republic.
Recall that prior to ECOWAS leaders’ decision to adopt a military option against the coup leaders in Niger Republic last weekend, the Catholic Bishops had advised the chairman, President Bola Tinubu, and other West African leaders not to give in to military intervention in the country.
This is even as the presidential candidate of the Labour Party in the February 25, 2023 election, Mr Peter Obi, advised the Federal Government and ECOWAS to prioritize diplomacy, instead of military force to resolve the standoff with the coupists in Niger Republic.
Investigator probes CBN staff, consultants, NIBSS, NSPMC
Tensions are escalating faster than the public can guess in the financial circle as the determination of the current administration to bring to book, those found wanting in the past nine years under the leadership of Godwin Emefiele at the Central Bank of Nigeria (CBN), is sending shockwaves through the system.
At the heart of the panic is Jim Obazee, who was on July 28, appointed “Special Investigator” of the CBN and related entities by President Bola Tinubu.
Whereas the terms of engagement of the ex-Chief Executive of the Financial Reporting Council of Nigeria (FRC) are subjects of speculation, The Guardian understands that the team has been expanded significantly with members drawn from diverse fields of expertise in the financial sector with Obazee now serving as the anchor.
Conclusion
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