Fire Tragedy at Kenyan School Claims Lives of 17 Children

A tragic fire at Hillside Endarasha Academy in Nyeri County, Central Kenya, has claimed the lives of at least 17 children, aged between five and twelve. The blaze, which erupted around midnight, engulfed a dormitory where the students were sleeping.

National police spokesperson Resila Onyango confirmed the fatalities and noted that 16 other children sustained serious injuries and were hospitalized. The bodies of the victims, who were severely burned, are challenging to identify, with their average age estimated at around nine years old.

An investigation into the cause of the fire is underway, with authorities working to determine how the incident occurred. President William Ruto has expressed profound sorrow and extended condolences to the victims’ families, promising a thorough investigation and accountability for those responsible. The Kenyan Red Cross and a multi-agency response team are providing support and psychological assistance to the affected families and community.

ICPC Denies Arrest of Chris Ngige Amid Fraud Allegations

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has dismissed reports circulating on social media about the arrest of former Minister of Labour and Employment, Chris Ngige. According to ICPC spokesperson Demola Bakare, Ngige was invited for questioning concerning certain activities from his tenure as minister, not arrested.

Bakare clarified that after the questioning, Ngige was allowed to leave but is required to return for further inquiries on a specified date. He urged the public to disregard false reports and called on journalists to verify information before publication.

Ngige’s questioning relates to ongoing investigations into contracts awarded under the Nigeria Social Insurance Trust Fund (NSITF) and follows a previous inquiry into a ₦47 million gratuity payment to a former NSITF Managing Director. Additionally, a committee led by Simon Lalong, Ngige’s successor, is investigating alleged irregularities involving contracts worth ₦1.8 billion within NSITF.

U.S. Mayor, Ex-British Diplomat Back Nigeria on Treason Charges Against Briton, 12 Nigerians

Former British diplomat David Roberts and U.S. Mayor Mike Arnold have expressed their support for the Nigerian government’s decision to prosecute British national Andrew Wynne and 12 Nigerians on charges of treason. The group is accused of plotting to overthrow President Bola Tinubu’s government, according to the Nigeria Police.

The accused individuals, including Wynne, are charged with attempting to destabilize the country and cause destruction at the National Communication Commission (NCC) Centre in Kano between July and August 2024.

Roberts, a former British Council director, condemned Wynne’s alleged involvement, stating that foreign interference in Nigeria’s affairs, especially from a British national, is unacceptable. Arnold echoed this sentiment, emphasizing that while free speech is important, it should not be used to incite violence or insurrection. Both officials highlighted the use of Russian flags during recent protests as a sign of potential subversion, standing by Nigeria’s efforts to maintain peace and stability.

Wike’s Ally Fires Back at Edwin Clark, Dismisses Arrest Calls

Chidi Lloyd, a close ally of Nyesom Wike and former chairman of Emohua Local Government Area, has strongly criticized Ijaw leader Edwin Clark for his recent demand to arrest Wike. Clark had urged the Inspector-General of Police to act after Wike’s comments warning PDP governors against interfering in Rivers State affairs.

In a scathing response, Lloyd labeled Clark a “hypocritical old man” chasing personal gains and accused him of harboring delusions of being the leader of the Niger Delta. He also claimed Clark’s actions stem from envy of Wike’s political foresight in supporting President Bola Tinubu early on.

Lloyd further argued that Clark should focus on resolving conflicts from his past rather than attacking Wike. He added that Wike’s rise in national politics, particularly his leadership role in the FCT, has fueled animosity from Clark and others.

The tension between Clark and Wike highlights deepening political divisions within the Niger Delta region.

NPFL Matchday 1 Fixtures Rescheduled Due to Super Eagles AFCON Qualifiers

The 2024-2025 NPFL matchday one fixtures have been rescheduled to Sunday and Monday due to Nigeria’s Super Eagles’ AFCON qualifier against Benin Republic, set to take place on Saturday, September 7, in Uyo.

After the league opener between reigning champions Enugu Rangers and newly promoted El-Kanemi Warriors ended in a goalless draw on August 31, the rest of the matchday one fixtures are set to unfold this weekend. Key clashes include Enyimba vs. Heartland and Rivers United vs. Bendel Insurance.

Rescheduled Fixtures:

Sunday, September 8:

  • Heartland vs Enyimba – 4 p.m.
  • Kwara United vs Niger Tornadoes – 4 p.m.
  • Sunshine Stars vs Bayelsa United – 4 p.m.
  • Bendel Insurance vs Rivers United – 4 p.m.
  • Abia Warriors vs Remo Stars – 4 p.m.
  • Plateau United vs Katsina United – 4 p.m.
  • Nasarawa United vs Shooting Stars – 4 p.m.
  • Kano Pillars vs Ikorodu City – 4 p.m.

Monday, September 9:

  • Lobi Stars vs Akwa United – 4 p.m.

Labour Party Crisis Fueled by Obi, Otti, and Datti – Abure-Led Faction Claims

The Labour Party, under the leadership of Julius Abure, has accused Peter Obi, Governor Alex Otti, and Datti Baba-Ahmed of contributing to the ongoing crisis within the party. According to the Deputy National Chairman, Ayo Olorunfemi, these figures, along with Nenadi Usman, have disrupted the party’s unity.

In an interview, Olorunfemi criticized the stakeholders’ meeting in Abia State, which appointed Nenadi as National Caretaker Chairman, labeling it illegal and claiming Nenadi is not a registered party member. He further argued that the so-called leaders, including Obi, Otti, and Datti, have overestimated their influence, fueling internal disputes.

Former Minister Emmanuel Iheanacho Rejects Otedola’s Call to Scrap Fuel Depots

Iheanacho Responds to Otedola’s Remarks on Depot Owners

Former Minister of Interior, Emmanuel Iheanacho, has responded to billionaire businessman Femi Otedola’s suggestion that fuel depot owners should dismantle their facilities and sell them as scrap. Otedola made the comment during the launch of operations at the Dangote Refinery.

In a statement, Iheanacho, who is also a member of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), rejected the idea, asserting that depots play an essential role in Nigeria’s fuel supply chain. He explained that petroleum storage depots are critical for delivering fuel to consumers and complement the operations of primary fuel sources like the Dangote Refinery.

The Importance of Depots in the Fuel Supply Chain

Iheanacho emphasized the necessity of collaboration within the fuel market, noting that depots are vital in storing and distributing petroleum products to meet consumer demand.

“While there may be competitive forces in the market, collaboration is key to ensuring a stable fuel supply in Nigeria,” Iheanacho stated. “Petroleum depots are not a replacement for primary fuel sources, but they are crucial for maintaining the fuel distribution system.”

Depots as Strategic Partners

The former minister further explained that private depots are not in direct competition with the Nigerian National Petroleum Corporation Ltd. (NNPCL) or the Dangote Refinery. Instead, they work in tandem to support a reliable fuel supply network. Depots provide essential storage and distribution services, which help balance market prices and meet the country’s fuel needs.

He concluded by stressing that depots remain a vital component in sustaining Nigeria’s entire supply chain, serving not only NNPCL and Dangote but also petroleum importers, and ensuring efficiency in fuel distribution.

Zamfara Government Denies Allegations of Paying Bandits for Dialogue

Zamfara State Refutes Claims of Payments to Bandits

The Zamfara State Government has strongly denied allegations that it paid large sums of money to bandits as part of a dialogue process. At a press briefing in Gusau, Secretary to the State Government (SSG), Abubakar Nakwada, dismissed circulating documents that claim the government released funds to prominent bandit leaders.

Nakwada described the documents as “fake, misleading, malicious, and completely false,” asserting that his and other officials’ signatures were forged. He reassured the public that security agencies are actively investigating the origin of these claims on social media.

Rejection of Claims About Payments to Media Figures

Nakwada also rejected claims suggesting that payments had been made to media figures under the pretense of “reconciliation efforts” through the state’s Security Trust Fund. He emphasized that the administration of Governor Dauda Lawal remains focused on restoring security across the state.

“This issue is being addressed with transparency and urgency due to its sensitive nature,” Nakwada said. “Though we have previously ignored fabricated lies aimed at distracting the government, the sensitivity of the security situation compels us to clarify.”

Firm Stance Against Negotiating with Bandits

The SSG reiterated that the Zamfara State Government maintains a strict policy of not negotiating with bandits or terrorists. He emphasized that the alleged memo, supposedly originating from his office and directed to Governor Lawal, was entirely fabricated.

“Our administration has been clear and firm in our approach to security challenges, and we have consistently refused to negotiate with terrorists,” Nakwada said.

He concluded by stating that the false documents were not only distractions but also attempts to undermine public trust in the state government’s efforts to restore peace.

“The fabricated document is an attempt to erode the trust and confidence that the people of Zamfara have in Gov. Lawal’s administration,” Nakwada added.

House of Representatives Urges Government to Reverse Fuel Price Hike

Lawmakers Appeal for Fuel Price Reduction

The House of Representatives Committee on Petroleum Resources (Upstream) has urged the Federal Government and the Nigerian National Petroleum Company Ltd. (NNPCL) to reconsider the recent fuel price hike. In a statement from Abuja, committee Chairman Alhassan Ado-Doguwa described the price increase as unacceptable and harmful to Nigerians.

Doguwa emphasized the need for the government to restore the previous pump price and prevent private companies from exploiting weaknesses in the system for excessive profits at the expense of ordinary citizens.

Addressing Crude Oil Theft and Pipeline Vandalism

As Chairman of the Special Committee on Crude Oil Theft and Pipeline Vandalism, Doguwa also expressed concern over revenue losses caused by crude oil theft. He highlighted the committee’s commitment to working with security agencies to secure oil pipelines and protect critical infrastructure.

“We urge the Federal Government and the NNPCL to consider the plight of Nigerians and suspend this recent increase in fuel prices,” Doguwa said. “Reverting to the old price will ease the tension and allow citizens to continue with their daily lives.”

Calls for Comprehensive Reforms

Doguwa called on Nigerians to support the administration of President Bola Tinubu as it implements reforms in the oil and gas sector, including the revitalization of refineries. He noted that ongoing efforts, such as the Petroleum Industry Act, will soon allow the country to fully benefit from its oil and gas resources.

The NNPCL had recently instructed its outlets to increase fuel prices from ₦617 to ₦897 per liter, a move that triggered a surge in the cost of goods and transportation services across the country.

Dollar to Naira Exchange Rate Update: Black Market Rates for September 6, 2024

Current Dollar to Naira Exchange Rates

What is the current exchange rate for the U.S. Dollar to the Nigerian Naira in the black market, also known as the parallel market (Aboki fx)? Below are the rates for September 5, 2024. You can trade your dollar for naira at the following rates.

Black Market Exchange Rate for September 5, 2024

In Lagos, black market traders are buying dollars at ₦1650 and selling at ₦1660, according to sources from the Bureau De Change (BDC).

It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market for foreign exchange. The CBN has advised individuals seeking to trade foreign currency to conduct transactions through their respective banks.

Black Market Exchange Rates (USD to NGN):

  • Buying Rate: ₦1650
  • Selling Rate: ₦1660

CBN Exchange Rates (USD to NGN):

  • Buying Rate: ₦1620
  • Selling Rate: ₦1621

Please be aware that the rates you receive when buying or selling forex may differ slightly from those listed here, as they can fluctuate.

Bank Borrowing from CBN Drops by 76%

A recent report reveals that borrowing by Nigerian banks from the Central Bank of Nigeria (CBN) through the Standing Lending Facility (SLF) dropped significantly by 76.4% in August, falling to ₦4.04 trillion from ₦17.12 trillion in July.

Meanwhile, deposits in the CBN’s Standing Deposit Facility (SDF) surged by 270.7% during the same period, increasing to ₦8.12 trillion from ₦2.19 trillion in July.

These changes indicate that banks are holding excess funds that are not being utilized, likely due to the high borrowing costs after the recent increase in the Monetary Policy Rate (MPR).

This shift comes after the CBN’s adjustments to the SDF rates, aiming to reduce the excess liquidity held by banks and promote more lending. These changes were detailed in a circular following the 296th Monetary Policy Committee (MPC) meeting. The apex bank adjusted the Asymmetric Corridor around the MPR to +500/-100 basis points from the previous +100/-300 bps to curb banks’ tendency to hold excess funds at the CBN.