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20/03/2024

JUST IN: Naira appreciates to N1400 per dollar on the parallel market

Nigeria’s naira has appreciated as it exchanged for N1400 per dollar against United States (US), dollars in the parallel market on Wednesday.

Nairametrics indicated the exchange rate has been gaining lately as speculators start to dump their hoard of dollars following waning demand.

On Tuesday, the Naira traded N1,560.57 per USD from N1,572.82 on Monday.
This represents an N12 gain on a day-to-day basis. The figure indicated a whooping N57.36 gain compared to N1,617.96 per USD traded barely a week ago.

The Naira had maintained it below the N1,600 per USD mark for the second day in a row, a threshold it had previously sustained for nine days since March 5th, 2024.
At the parallel market, the Naira remained stable, trading close to the N1,600 per dollar benchmark

The Nigerian currency saw a 0.50 per cent appreciation against the USD on Tuesday, improving from the prior rate of N1,608 per USD.

Meanwhile, Forex turnover at the official foreign exchange market has increased to $11.43bn within over two months of trading following fresh reforms by the Central Bank of Nigeria (CBN).

An analysis of reports and data of daily forex transactions recorded on the website of FMDQ Securities, a platform that publishes official foreign exchange trading in the country, indicated that the figure increased by 185.75 per cent or $7.43bn between January and March 15th through the Nigerian Autonomous Foreign Exchange by Deposit Money Banks.

Commercial banks, CBN and international oil firms are the major sellers of forex at NAFEM.

The improved liquidity at NAFEM followed a directive by the CBN on February 1, 2024, asking banks to sell their excess dollar stock to improve liquidity in the FX market within 24 hours.According to officials, the central bank believes some commercial banks hold long-term foreign exchange positions to enable them to profit from the volatile movements of exchange rates.

Although, the naira fell to an all-time low of N1,850/$ at the parallel market, the move aimed at unifying the official and parallel market exchange rates was approved by economists and other stakeholders.

However, they challenged the CBN to clear FX backlogs estimated at over $5bn and fund FX demands at the official market. This, they said, would forestall a situation whereby the parallel market rate would move away from the official rate again.

A further breakdown of the dollar supply showed that the forex market recorded a $4bn turnover in January and increased by $3.3bn within two weeks (February 2 to 16) of implementing the new rules.

In the weeks that followed, the supply stabilised, recording $890.65m between February 19 and 23. This inflow increased to $953.02m in the week ending February 26 to March 1.Between Monday, March 4 and 8, the market got a gain of $1.07bn as forex turnover but reduced to $848.14m last week (March 11 to 15).

11/03/2024

BREAKING: Nigerian university non-teaching workers declare 7-day warning strike

The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union (NASU) have declared a 7-day warning strike to demand the payment of four months of withheld salaries of their members, after the 2022 nationwide strike.

The decision was part of the resolution of the joint action committee of the two unions, after a meeting held in Akure at the weekend.

Recall that President Ahmed Bola Tinubu had directed that workers in the public universities that embarked on a prolonged strike in 2022 but were not paid salaries within the period of the strike by the administration of President Muhammadu Buhari should be paid for four months.

While the Office of the Accountant General of the Federation has paid the Academic Staff Union of Universities, ASUU, the four months as directed by the President, the three unions of non teaching staff are yet to be paid.

At its 47th NEC at the Federal University of Technology, Akure, FUTA, Ondo State, members of SSANU voted unanimously for a seven day strike which would be followed immediately with an indefinite strike if the government remains adamant.

Speaking after the decision was taken, the SSANU President, Comrade Mohammed Ibrahim said, “What played out at today’s meeting clearly is that members have unanimously resolved that they will not accept this injustice meted on us, because there is no explanation that can scientifically or naturally be given to anyone as to why one group of our staff is paid and then the other three groups are left.

Therefore, we have given the next one week where members will go back to their branches and sensitize our members. This time around, it is going to be a total strike. For seven days, there will be no water, no electricity, no medicals, no office work. Everybody will leave his office work until when those seven days reach.

“However, we are hopeful, we are prayerful that government listens and then does the needful because we also know that we have a responsibility for the society, for the university and for our students. So nobody should blame us if this thing happens, because we have given enough notices, we have made enough sensitization and we have contacted enough stakeholders.

“So it’s going to be total, it is going to be total black out in our campuses all through Nigeria. In those seven days until when that money is paid.”

Asked what would happen if the government remains adamant after the seven days warning strike, the SSANU President said: “Clearly, our organs and based on our constitution, will work with the provisions and that by Monday (today), we said our members should go back advertise for meetings, and then by Tuesday, they are supposed to meet in all the branches and Wednesday, they are supposed to return the feedbacks of the sensitization.

08/03/2024

Forensic expert confirms Emefiele forged Buhari’s signature to withdraw $6.2m from CBN

A forensic document examiner, Bamaiyi Haruna, has said analysis of some documents used to release $6.2m from the Central Bank of Nigeria in February 2023 showed that the documents were forged.

Haruna, who is an official of the Economic and Financial Crimes Commission (EFCC), stated this on Thursday at the resumed trial of the immediate-past , CBN governor, Godwin Emefiele, before the Federal Capital Territory High Court in Abuja.

The EFCC, on June 18, 2023, arraigned Emefiele on amended 20 counts, in which he was accused of impersonating the Secretary to the Government of the Federation to illegally move $6.2m from the CBN vault.

The anti-graft agency also alleged that Emefiele, in January 2023, forged a document titled: “RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS,” dated 26 January 2023 with Ref No. SGF.43/L.01/201.

At the last adjourned date, a former Secretary of the Government of the Federation, Boss Mustapha, noted that the documents did not emanate from former President Mohammadu Buhari or his office.

Mustapha also told the court that the Federal Government had no business with foreign election observers matters.

Haruna, the sixth Prosecution Witness in the matter, stated that the real signatures of Buhari and the ex-SGF were analysed with the ones in the documents and were not the same.

He said, “The conclusion from the analysis revealed that the disputed documents showed evidence of forgery and copying art as the pen movement form and formation of the signatures and the skill of ex*****on were found to be different from that of the specimen signatures A to A2 and B to B1.

“The form and formation of the signatures marked x and the specimen signature marked B to B1 were found to be different in respect of pen movement impulses, skill of ex*****on, loop formation, and presence of tremors, there were individual characteristics.

“This is a confirmation that the author of the specimen signatures marked B to B1 does not rhyme with the signature of Buhari on the disputed document marked X.

“Also, the form and formation of the disputed signatures marked X1 and Specimen signature A2 were also found to be different concerning pen movement impulses.
Initial and terminal strokes, loop formation, presence of tremors, and individual characteristics. This is also a confirmation that the author of the specimen signature marked A2 did not rhyme with the signature of Boss Mustapha on the disputed document marked X1.”

The prosecutor applied to the court to tender the forensic report dated January 25, 2024, and other documents attached as exhibits.

Emefiele’s lawyer, Mathew Burkaa (SAN), did not oppose.

Justice Hamza Muazu subsequently admitted them as evidence and marked them as Exhibits FDE.

During cross-examination by Burkaa, the witness urged the court to rely on his report

When asked if Emefiele’s signature was analysed, he said no.

Also asked if EFCC operatives submitted the materials analysed, Haruna said, “Operatives of the EFCC submitted the request to the department.”

The matter was subsequently adjourned till March 11.

07/03/2024

Tinubu’s minister Edun blows hot, says CBN printing of N22trn under Buhari fueled Nigeria’s rising inflation

The finance and coordinating minister of the economy under President Bola Ahmed Tinubu’s government Wale Edun has said former President Muhammadu Buhari’s administration caused Nigeria’s hyperinflation by” aimlessly” printing trillions of naira

He said the N22.7tn printed by the Central Bank of Nigeria through Ways and Means overdraft for the Federal Government from 2015 to 2023, under former President Muhammadu Buhari, threw the country into the current inflation.

Edun who made the lamentation on Wednesday during an interface with the Senate Committee on Finance, said during the period, the printing of naira in trillions was carried out without any corresponding productive activities.

According to him, the consequence of the eight years of printing money without productivity is the high inflation confronting the country now.

The Senate had two weeks ago resolved to probe the N30tn Ways and Means overdraft obtained and spent by the Buhari administration

It further stated that the alleged reckless spending of the overdraft collected from the CBN under Godwin Emefiele largely accounted for the food and security crises facing the country.

The Red Chamber then resolved to set up an Ad -hoc committee, to investigate the overdraft because the details of the spending were deliberately not made available to the National Assembly.

He said, “We talked about inflation, and you have helped to solve that. Where has it come from?

“It came from the eight years of just printing money not matched by productivity. It’s not like when you earn dollars and you free the naira alongside it, although there’s even a better way than that. But that’s still not as bad.

“It’s not as if the money is matched by productivity increase in output. It is not. And what happened was that for eight years, the weak were left to their own devices. It is the privileged few that took everything

He added, “You distinguished senators have helped. You have given us the mandate to raise N7tn, which we will do by sucking money from the market, using it to pay back the central bank and giving the government a balanced book. We are going to audit even the N22.7tn printed aimlessly.”

He, however, assured the committee members that various damage-mitigating economic policies being rolled out by the present government, would in no distant time, bring about great recoveries in terms of lower Inflation rate and improved GDP growth rate.

He specifically informed the committee members that rather than indulging in such money printing or seeking for avoidable loans, the President Bola Tinubu-led government is succeeding greatly in the area of revenue generation with over N13tn revenue generated from the non-oil sector in 2023, adding that the trajectory is being improved upon in 2024.

He stated, “We should not be despondent. We have done the hard part. Mr. President, through the bold and courageous measures which are recognised around the world as being beyond the usual, what you would normally see.

“To so riskily and robustly change the things that are wrong. And it wasn’t just a set of measures. It’s not just lifting of subsidy here or margin of rates there. No. It is a strategic plan, the whole fiscal side, the government’s finances have been repaired.”

Edun further stated, “You, distinguished senators, have helped further to encourage and enroll the executive to further repair the finances, the fiscal situation of this country by endorsing and urging us to do something about the leakages in the import duty, waiver system. And we have explained to you what we will do. And even from your body language, I believe you feel that that is in the right direction.”

06/03/2024

FYI

06/03/2024

Edo House Of Assembly serves impeachment notice to Obaseki’s deputy Philip Shaibu

The Edo state House of Assembly has served an impeachment notice on Deputy Governor Philip Shaibu.

The Speaker Blessing Agbebaku on Wednesday, March 6, 2024, directs the clerk to serve an impeachment notice to the Deputy Governor, with 7 days to respond.

This comes amid power tussle between the governor, Godwin Obaseki and his deputy.

The relationship between Shiabu and his boss has been frosty since Shaibu first raised the alarm of plot to impeach him and instituted a case against the planned move.

The governor relocated his office from the government house and since then has been attending exco meetings through zoom and has not been accorded the official protocol during public activities.

His sin is believed to be his ambition to succeed his boss which Obaseki does not support and that he went about his ambition despite Obaseki’s appeal for him to calm down and not distract governance.

Shaibu is already in court challenging the February 2022 governorship primary election of the PDP after he emerged from a parallel process claiming to be the authentic candidate of the PDP.

Meanwhile, the National Youth Council of Nigeria, Europe Chapter, Comrade Collins Idahosa has on Tuesday cautioned Obaseki against the impeachment move on his estranged deputy saying that it is ill-timed.

Idahosa who heads the Europe Chapter of NYC and based in Sweden spoke through telephone from his base saying; “This is not the time to talk about impeachment. Politics is a game, all the stakeholders should call themselves into an inner room, discuss and settle whatever may be the issue. Edo State needs peace now more than ever before.

“I want to plead with our Governor, Godwin Nogheghase Obaseki and all stakeholders to embrace peace and tow the path of reconciliation instead of talking about impeachment. It’s not helpful because it’s not in the interest of our state and especially, our people. As the father of the state, the Governor can rally everybody and find a solution”, the NYC Governor cautioned.”

05/03/2024

JUST IN: Senate plenary disrupted as power outage hits national assembly

The Senate plenary has been delayed as a power outage hit the national assembly in Abuja.

The outage, described as a technical glitch, occurred as senators gathered for the scheduled proceedings on Tuesday, March 5, 2024.

The development threw the Red Chamber into partial blackout as the lawmakers awaited the restoration of power supply.

President of the Senate, Godswill Akpabio would later commenced plenary after power was restored some minutes later.

This comes as the country grapple with epilectic power supply

The power problem in Nigeria had been made worse with the removal of fuel subsidy which escalated the pump price of petroleum otherwise known as Premium Motor Spirit (PMS) and AGO known as gas to all time high in the history of the country.

The national grid collapse had become a regular feature in the country in the last nine months.

While the Transmission Company of Nigeria (TCN) and Electricity Distribution Companies had recently absorbed themselves of the epileptic power supply, it blamed the problem on generation.

Transmission Company of Nigeria (TCN) on January 25, 2024, said that shortage of power supply across the country was caused by decrease in power generation.

TCN, explained that the gradual decrease in available generation into the national grid was caused by gas constraints to the thermal generating companies.

It said the development has impacted the quantum of bulk power available on the transmission grid for onward transmission to the distribution load centres nationwide

05/03/2024

JUST IN: Army chief Lagbaja opens up on military’s plan to truncate Nigeria’s democracy

The Chief Of Army Staff(COAS), Lieutenant General Taoreed Lagbaja, has said that the Nigerian army has no plans to truncate the nations nascent democracy which he said has come to stay.

Speaking at the seminar of the Army Headquarters Department of Military Secretary in Abuja, Gen Lagbaja emphasized that the military has to defend the constitution and support elected leaders.

He has therefore charged officers and soldiers of the Nigerian army to remain professional and be above board as they discharge their constitutional duties.

Gen Lagbaja, while noting that the Nigerian army remains the agents of democracy, said “Permit me to seize this opportunity to reiterate that the Armed Forces of Nigeria, particularly the Nigerian Army has come to terms with the country’s choice of democracy as the preferred
system of governance.

We are therefore agents of democracy and have no desire to truncate it. The Nigerian Army will continue to defend our constitution and not suspend it for whatever reason.

“It is the duty of our elected leaders to lead while the military does its job as enshrined in our constitution. Nigerian Army personnel must therefore remain professional and be above board as they discharge their constitutional duties.”

Earlier, the military issued a warning to Nigerians calling for a coup over the hardship in the land.

Some Nigerians, on social media, have suggested that the military should overthrow the government of President Bola Tinubu who they accused of lacking initiative to end the current economic hardship.

Reacting to the call, Chief of Defence Staff, General Christopher Musa, said those making such insinuations do not mean well for the country.

Musa said the Armed Forces would continue to do the needful to protect the country’s democracy
Whoever is making that call (coup) does not love Nigeria. We want to make it very clear that the Armed Forces of Nigeria are here to protect democracy. We all want democracy and we do better under democracy. And so we will continue to support democracy. And any of those ones that are calling for anything other than Democracy are evil people and I think they don’t mean well for Nigeria.

“And they should be very careful because the law will come after them. We can see that with democracy a lot of things are happening in Nigeria. Yes we are going through trying periods, I mean in life nothing is hundred percent.”

29/02/2024

11 things to know about Red Line Rail in Lagos

President Bola Ahmed Tinubu has commissioned the Red Line Rail Mass Transit project in Lagos State, marking a significant milestone in the city’s transportation landscape.

The inauguration ceremony took place on Thursday, where President Tinubu was welcomed by Governor Babajide Sanwo-Olu, his wife, Ibijoke, the Deputy Governor, Obafemi Hazmat, state commissioners, and aides.

In his address, President Tinubu shared insights into the transformative vision for Lagos. “My team and I toiled day and night to craft and implement a developmental vision that will transform Lagos into the economic powerhouse of Africa and a respected mega city on the global stage. We are realising that dream,” he said. “It is not a crime to dream big. Just stay focused and stay on course, particularly, make development the central fulcrum.”

Acknowledging the success of the Lagos Metropolitan Area Transport Authority (LAMATA), Tinubu praised the agency for its commitment and well-guided initiatives. “LAMATA has demonstrated that an agency can succeed and work for the people if guided with a vision and committed to a larger value. The history of Lagos will be written with you in gold,” he said.

Tinubu also highlighted the digital payment platform, a single unified system for ferry, rapid bus, and rail services. “Today, we are gathered for the inauguration of the second of the six rail lines planned as part of that launching, and I thank our political leaders present for believing in us and for lifting our spirits.”

Governor Sanwo-Olu, speaking at the launch, emphasized that the project aimed not only to enhance transit but also to reshape the urban landscape, setting a new pace for development. “The LMRT project is a beacon of progress, illuminating the path to a future where our city moves smoother, faster, and more efficiently,” he expressed.

Embarking on the Lagos Mass Rail Transit (LMRT) project is more than just enhancing transit; it’s about weaving the fabric of our city into a tighter, more connected community,” Sanwo-Olu added. “Every track laid, every station built, brings us closer to a Lagos where distance no longer dictates destiny.”

Among the distinguished guests at the commissioning were Governors Usman Ododo (Kogi), Abiodun Oyebanji (Ekiti), Dapo Abiodun (Ogun), former Lagos Governor Akinwunmi Ambode, and other notable dignitaries.

Here are the 13 things to know about the Red Line Rail in Lagos:

1. The Red Line is a 37km rail route proposed to run from Agbado to Marina with 13 stations at Agbado, Iju, Agege, Ikeja, MMIA International, (domestic), Oshodi, Mushin, Yaba, Ebute Metta, Iddo, Ebute Ero, and Marina.

2. It is the second mass transportation system in Lagos, after the 27km Blue Line that is already in operation, designed to run from Okokomiko to Marina

3. The Red Line proposed as Public Private Partnership (PPP) is one of the six rail lines and one metro line designed to revolutionise public transportation system in Nigeria’s economic hub.

4. The six rail lines are encapsulated in the state’s transportation master plan, developed by Lagos Metropolitan Area Transport Authority (LAMATA).

5. To ensure the smooth operation of the rail line and safety for commuters, significant infrastructure has been developed. This includes the construction of 10 vehicular overpasses and pedestrian bridges, separating train traffic from vehicular and pedestrian flows.

6. Once operational, it is expected to facilitate 37 trips daily, accommodating approximately 500,000 passengers.

7. The primary objectives include reducing travel time, mitigating health issues related to stress, and enhancing economic productivity.

8. The project aims to alleviate traffic congestion, minimise road accidents, and improve commuter safety within Lagos.

9. Unlike the electric-powered Blue Line, the Red Line will utilise a diesel-powered system known as Diesel Multiple Unit (DMU). DMU employs on-board diesel engines to propel multiple-unit trains. This choice of transmission aligns with the project’s objectives and operational requirements.

10. The Red Line Rail Project represents a significant milestone in Lagos’ transportation infrastructure development.

11. Initial estimates pegged the cost at $135 million, however, Governor Babajide Sanwo-Olu revealed that both the Blue and Red Lines combined would exceed ₦100 billion.

23/02/2024

NIN required as customs begins distribution of seized food items to Nigerians

The Nigerian Customs Service (NCS) has begun distribution of seized food items to Nigerians to help mitigate the current hardship in the country.

The Comptroller-General of Customs, Wale Adeniyi, disclosed that the Federal Government mandated the distribution of these seized food items in a bid to alleviate the current hardships faced by Nigerians,

Speaking at the flag-off event in Lagos on Thursday, Adeniyi emphasized that Customs is collaborating with other agencies to ensure the direct distribution of these items to those in need.

He noted that beneficiaries would be required to provide a verifiable National Identification Number (NIN) to access the assistance.

He said: “Our target include artisans, teachers, religious organisations and other Nigerians within the area of customs operations including the border areas.

The intention of this distribution is to reach out directly to members of organisations that have structures, to ensure the maximum impact of the exercise.

The effort of the distribution is to ensure robust security protocol throughout the process as officers will closely monitor the entre supply chain to prevent any misuse or possible diversion of food items.”

He said that the gesture was part of federal government’s efforts at ensuring reduction of food prices in the country.

“We collaborate with other sister agencies of government, while customs is the lead agency because the food items are with us.

“Among us here are the police, DSS, and tomorrow we are going to have full department of all the sister organisations for proper monitoring,” he said.

Adeniyi said the rice distributed had been certified for consumption by the National Agency For Food and Drug Administration and Control (NAFDAC), before being re-bagged to 25 kg so as to reach as many Nigerians as possible.

The Customs boss said that 10 points had been created for the processing, and interested Nigerians should come with their NIN, to restrict people from benefiting twice.

The CG said that customs would work with police in ensuring that the food items were not resold.

Adeniyi, however, urged Nigerians to report any incident of misuse or unauthorised resale of the food items.

He said customs would not hesitate to arrest and prosecute anyone in possession of any food items in their stores

The CG added that over 50 trucks containing the food times were currently detained by the area commands of the Customs.

He said that other items seized include 2,500 cartons of 963 bags of assorted dried fish, dry pepper, seasoning , salt, cooking oil, macaroni, sugar and garri.

He said that NCS was working jointly with other sister agencies in carrying out the mandate to protect the borders from inflow of smuggled goods and outflow of restricted goods

21/02/2024

Nigeria police confirm arrest of Labour Party national chairman Abure over attempted murder and possession of firearm

The National Chairman of the Labour Party (LP), Comrade Julius Abure, has been arrested and detained by the police in Benin City, Edo State.

The spokesperson for the Nigeria Police Force Zone 5, Tijani Momoh confirmed the development saying, the party chairman was arrested on Wednesday, February 21, 2024, over attempted murder and possession of fi****ms.

The police spokesperson said the arrest comes after a petition by the party’s former Youth Leader, Eragbe Anselm Aphimia.

Momoh said; “The arrest of Abure and four others has to do with a written petition that was endorsed by the AIG Zone 5 from the office of the Inspector General of Police”.

He said that the suspects were arrested for attempted murder and that video clips and recordings show how the petitioner was being “assaulted, being beaten when he came home last year to conduct ward matters”.

It is a case of attempted murder, conspiracy, illegal possession of arms and other related offences,” he said.

According to Momoh, Abure and the other suspects were also in “possession of fi****ms; a shotgun and three rounds of ammunition”.

He added that the investigation into the matter was still ongoing.

Anselm Aphimia’s petition addressed to the Edo State Police Commissioner of Police, alleged that a “heinous act of violence” was perpetrated against him on December 29, 2023.

He said, “I am a member and National Youth Leader of the Labour Party (LP) in Nigeria, and the events I am about to recount are of utmost importance for justice and the safety of individuals involved in political activities.

“On December 28, 2023, I flew into Benin City Airport around 2 p.m. as part of an official 5-member delegation authorised by the Acting National Chairman of the Labour Party, Alhaji Lamidi Basiru Apapa.

Our mission was to organise Ward, LGA, and State Congresses in Edo State, as well as supervise the sale of nomination forms for various posts, as mandated by INEC guidelines, within the stipulated time frames.

“On arrival at the Benin Airport, I was received by one Mrs Mary Okheime Newberry, who falsely claimed to be providing transportation and accommodation on behalf of unnamed ‘stakeholders’.

“She proceeded to lodge us at the Smart Homes Hotel, unknown to us that she was plotting a sinister and gruesome ambush. The next morning, a man named Austin Emeka came to pick me and my colleague, Mr Patrick Anethua, up from the hotel lobby, pretending to take us to a meeting venue.

“Instead, we were violently attacked just outside the hotel gates by a waiting mob

21/02/2024

JUST IN: DSS warns NLC and TUC against proposed two-day protest over hunger, says it’ll worsen situation

The Department of State Services (DSS) has asked the organized labour to shelve plans to stage protests in the country over the biting economic hardship.

Recall that NLC on Friday declared a two-day nationwide mass protest for February 27 and 28, 2024, over the economic hardship assailing Nigerians.

But in a statement on Wednesday, Peter Afunanya, DSS director of communications said though the Service recognises such action as the legitimate right of the labour movement, it, however, urged the body to shelve the plan in the interest of peace and public order.

According to him, all the levels of government are striving to ameliorate the prevailing economic condition and as such, should be given a benefit of the doubt.

He called on parents and guardians to exert authority in guiding their children and wards from inimical acts capable of jeopardising public safety and harmony.

Afunanya further warned that DSS stands opposed to violence as a means of settling present day challenges, be they economic, political or otherwise, assuring that the Service will work with sister security and law enforcement agencies to ensure that lasting peace is maintained in the country.

The statement partly reads; “The DSS further calls on parties to pursue dialogue and negotiation rather than engaging in conducts that could heighten tensions. This is more so that the Service is aware that some elements are planning to use the opportunity of the protest to foment crisis and by extension, widespread violence. The development, without doubt, will worsen the socio-economic situation across the country.

“It is common knowledge that all levels of Government are striving to ameliorate the prevailing economic condition and as such, should be given a benefit of the doubt. So far, appropriate authorities are working assiduously with a spectrum of stakeholders to fashion out modalities to address the current difficulties. They should, therefore, be given the chance to handle the challenges at hand.

“In this vein, citizens are encouraged to recognise that what remains unsolved in peace time, would not be attained in war-time. The timeless piece of the esteemed Poet, JP Clark, “The Casualties” is a resonating reminder to us on the possible dangers of escalated conflicts. In time of trouble, everyone will be a casualty.

“Also, ongoing wars in the global scene is a stark reminder of their catastrophic repercussions on the affected countries’ domestic environments thus, the critical need to protect and maintain our internal stability and unity. Those exploiting the fault lines in the country need to have a rethink as resort to negativities will endanger our peaceful coexistence with dire consequences

Similarly, parents and guardians are implored to exert authority in guiding their children and wards from inimical acts capable of jeopardising public safety and harmony. Additionally, all sectors, including political parties, opposition groups, religious and traditional institutions, civil society and non-governmental bodies are called upon to eschew violence; demonstrate leadership and statesmanship in these challenging times. Making political capital out of the current situation or involving in divisive utterances at a time like this, will be of no benefit to any peace-loving Nigerian. Citizens are advised to be vigilant and not allow fifth columnists and hostile forces or agents to use them to destabilise the peace of the nation.

“The DSS stands opposed to violence as a means of settling our present day challenges, be they economic, political or otherwise. Accordingly, the Service will work with sister security and law enforcement agencies to ensure that lasting peace is maintained in the country,” the statement read

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