EFCC Queries Emefiele for Alleged $15 billion Foreign Debts and New Currency; Forex Investors Lament as Naira Appreciates | 5 Things That Should Matter Today

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.
EFCC queries Emefiele for alleged $15 billion foreign debts and new currency

The Economic and Financial Crimes Commission (EFCC) has begun investigating the former Governor of the Central Bank of Nigeria, Godwin Emefiele, asking about the alleged $15 billion foreign debts.

The EFCC also expects to retrieve answers for how the CBN, which managed to spend ₦74.84 billion in creating and disbursing nairas, including the new ones.

Godwin Emefiele is on the hot seat as the EFCC grills him for his alleged misconduct, abuse of power, and gross handling of the country’s funds.

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Forex investors lament as Naira appreciates

On October 27, the Naira gained ₦175 against the dollar currency at the black market.

The Nigerian currency, which was sold at ₦1,315/$, was not being sold at ₦1,140, and this caused a few losses for investors.

Traders have claimed losing more funds as they sold below the purchase rates.

“I know some BDC operators that sold dollars below the purchasing rate. This is expected to continue in the weeks ahead. Also, the expected $10 billion inflows to the economy will help strengthen the naira position against the dollar,” a Bureau de Change trader said.

Godswill Akpabio breaks record by joining the global Executive Committee of the Inter-Parliamentary Union (IPU)

Nigerian Senate President Godswill Akpabio has been elected into the global Executive Committee of the Inter-Parliamentary Union (IPU), making him the first Nigerian lawmaker to do so in 59 years since 1964.

The Senate President was elected on October 27 at the IPU’s 147th General Assembly in Luanda, Angola.

The IPU was founded in 1889 and was established to encourage peace through parliamentary diplomacy and dialogue. It consists of 170 countries.

FGN and US form alliance to counter terrorism financing

The United States of America has announced that it is working with the Nigerian government to counter terrorism financing.

On October 27, the US Treasury Dispute Assistant Secretary, Eric Meyer, made this announcement public.

The US politician believed the US could make Nigeria’s financial system safe and well-guarded.

“We engaged with our counterparts here and the Central Bank of Nigeria and the Ministry of Finance, Nigerian Financial Intelligence Unit on how to protect and safeguard Nigeria’s financial system, how to make sure that it is not being used and can not be used by illicit actors to support terrorism and other activities,” Meyer said.

Court imposes sum of ₦4 million payment to Punch, Columnist against Obasanjo

A High Court in FCT has awarded a ₦4 million cost in favour of Punch Columnist Sonala Olumhense against ex-president Olusegun Obasanjo in a defamation suit.

In her judgement, Justice Modupe Osho-Adebiyi stated that ₦2 million to both defendants was the cost of the action.

In 2019, former president Obasanjo filed a defamation suit against the newspaper company Punch for the sum of ₦1 billion due to a publication about him and his stance in Nigeria’s history..…CONTINUE.FULL.READING>>>

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