Oluwasegun Adesuyi, Author at SocietyGazette.com

AbokiFX Announces Interim Suspension Of forex rate updates as CBN investigates founder

ABOKIFX, the website that quotes daily foreign exchange rates against the naira, has announced the interim suspension of the updates on its platform following serious allegations of currency manipulation, speculation and illegal dealings in forex levelled against it by the Central Bank of Nigeria (CBN).

Godwin Emefiele, CBN Governor, had earlier vowed to prosecute the founder, Oniwinde Olusegun Adedotun after the regulator launched an investigation into the company and Oniwinde’s activities and blocked bank accounts linked to them.

In response, AbokiFX took the decision on September 17, 2021, to temporarily suspend rate updates on all our platforms, until it gets better clarity of the situation.

Meanwhile, final rates were posted on Friday but the abokiFX news section and the Crypto rates section would remain active.

Emefiele alleged that Oniwinde and his company operate 25 bank accounts in eight banks that are filled with money from his alleged speculative activities.

According to Emefiele, “The founder of AbokiFX is an illegal dealer with tens of millions invested across several Nigerian companies,” but vowed to track him down in his UK abode and have him prosecuted.

AbokiFX released the statement following the CBN governor’s statement after the MPC decision briefings.

AbokiFX was established in 2014 as a research and information service company, to conduct market research and gather data on the parallel market rates.

“We also wanted to provide some transparency around the parallel market with the availability of information technology,” the firm noted in a statement.

AbokiFX purely provides benchmark parallel rate information which helps guide users in almost 200 countries across the world.

The management says abokiFX does not trade in FX, which it has always maintained in its emails and social media platforms.

“We do not trade FX neither do we have the power to manipulate the rates as we do not create the rates. We are the only entity in Nigeria that has a full set of parallel rates, right from our inception in 2014 when the exchange rate was trading at N166 to $1.

“We collated data for years before we started publishing, as we realised the demand increased for our historical data,” a statement from the firm observed.

To most users of its platforms, it is just a parallel rates board but to many institutions, ranging from Ivy League universities to global businesses and research centres, “we are a key source of data, especially, historical data (almost a decade’s worth of data on parallel rates).

“Companies use our data for their internal and external audits as well as planning and budgeting,” it stated.

The firm added that it only publish what was sourced on the streets of Lagos, hence the phrase, Lagos Parallel Rates.

The rates sourced are carefully collated, reviewed and a mean rate is published from the data pool. This explains our three daily updates – * morning, ** midday, ***evening.

It should be remembered that in 2017, Nigeria experienced an FX crisis and the Naira depreciated to over N500/$1. AbokiFX was accused of manipulating the parallel market rates.

Once liquidity was injected, the Naira appreciated and it published the appreciation which is basically what it does.

It observed that 2021 has seen a similar scenario with the naira depreciating and “we have published what we have been given, which has led some to believe we are manipulating the market.

“Yet no one can complain about our rates deviating +/- 2 per cent from the parallel market rates when they patronise the dealers in the market. If we do not create the rates, how then can we control the rates. Our only sources of income have been our API and advert sales,” it explained.

(VIDEO) “He is our Capo and we are ready to follow Him” – Akeredolu Declares Support For Tinubu

“He is our Capo and we are ready to follow Him” – Akeredolu Declares Support For Tinubu

The Governor of Ondo state, Governor Rotimi Akeredolu has said that the National Leader of the All Progressives Congress, APC, is hale and hearty.

Speaking in a recent interview on Arise TV, Akeredolu described Tinubu as the ‘Capo’ of the South-West and the South-South, adding that he was a leader everyone was ready to follow.

Akeredolu said; “I am not changing party. I move nowhere from APC. If I leave APC, I’m going back to my chambers”.

“Whatever APC decides, I will follow”

“We went to visit our national leader, I was there, because of a lot of rumours here and there, it was important we go to go and see for ourselves and i was there, i saw him myself, there’s nothing so alarming about his health that people are talking about.”

“So, we are praying he returns back on time. Because he is the Capo for us in South-West and South West.”

“He is our Capo and we are ready to follow”.

Watch the video below;

https://youtu.be/tyMni26_LLg

Hoodlums set another INEC office in Enugu ablaze

Arsonists set the INEC office at Awgu Local Government Area of Enugu State ablaze on Sunday.

The Chief Fire Officer in Enugu State, Chief Okwudili Ohaa, confirmed the incident to the News Agency of Nigeria (NAN) in Enugu.

Ohaa said that a distress call was received by the Enugu State Fire Service at about 1.30 a.m.

“As usual, when we received the distress call our trucks and men at Ozalla Station quickly moved to the scene.

“We equally mobilised fire engines and fire fighters from Enugu metropolis.

“Our prompt intervention saved the entire complex as only one office room was affected in the raging fire before it was extinguished,’’ he said.

Ohaa said that the quick response of fire fighters gave credence to the establishment of fire stations in local government areas by Gov. Ifeanyi Ugwuanyi.

“With the development, it is important to note that the state’s residents and infrastructure are now benefiting from massive investment of Gov. Ugwuanyi in building and equipping new fire stations throughout the state,’’ he said.

There are feelers that the arsonists climbed through the perimeter fence to gain access to the INEC complex.

Efforts made by NAN to get the police and INEC officials to speak on the incident proved unsuccessful as they did not pick their calls.

Arsonists had earlier in the year attacked the INEC Headquarters in Enugu State and the INEC office in Udenu Local Government Area of the state as well.

Obadiah Malafia Told Me He Had Malaria And Cattarh Two Days Ago, Says Cousin

One of the cousins of Obadiah Mailafia, a former Deputy Governor of the Central Bank of Nigeria (CBN), has said he spoke with the deceased two days before he died.

Mailafia died at Gwagwalada Specialist Hospital, Abuja, on Sunday morning.

The cousin, who pleaded anonymity because the family did not authorise him to speak on their behalf, said when they spoke, the former CBN deputy governor explained that he was having malaria and cattarh.

He said Mailafia told him he had to switch off his main number because people were disturbing him on that line.

According to the cousin, after they finished talking, he (the cousin) wished him quick recovery and thanked him for an assistance he rendered him last week.

“Only for me to get a call today’s church service that he has passed on,” he said.

The cousin, who resides in Jos, Plateau State capital, said though Mailafia had a house in Jos, he did not reside there.

He said last year when he was offered an appointment at the National Institute for Policy and Strategic Studies (NIPSS) in Kuru near Jos, he lived in the ancient city during the period.

It was in Jos that he granted a radio station an interview that a serving Governor was a commander of Boko Haram.

Mailafia had also alleged that during the COVID-19 lockdown, insurgents were moving and distributing arms and ammunition across the country, and that they were moving up and down as if there was no lockdown.

This made the Department of State Services (DSS) invite him to its Jos office where he was interrogated thrice.

He was 64.

Source: Daily Trust

IGP Alkali queries Abba Kyari after panel report

Indicted super cop and former commander of the IGP Intelligence Response Team (IRT), Abba Kyari, has been queried by the Inspector General of Police, Usman Alkali Baba.

The query follows the submission of the report by the police panel set up by the IGP to look into the alleged indictment of Abba Kyari by the Federal Bureau of Investigation (FBI).

Abba Kyari was queried over infractions noticed in his communication with Ramon Abbas aka Hushuppi, a suspected internet fraudster, the Daily Trust reported.

“The IGP has issued a query to Abba Kyari based on the findings of the panel.

“The panel discovered that there was communication between Kyari and Hushpuppi, as well as infractions on the part of the cop, which is against the procedure of engagement of the police.”

The panel did not recommend the extradition of Kyari because it could not establish that the police officer committed any crime in the US.

“There is no proof that he committed any crime on the soil of the US to warrant his extradition.

“He will be sanctioned by the appropriate authorities here. However, it is for the AGF to advise if there is a ground to extradite him to the US, which is very unlikely, the source said further.

Spokesperson of the Nigerian Police Force, Frank Mba, however, said that the IGP has forwarded the recommendations of the panel to the Police Service Commission (PSC) for appropriate action.

Reportedly, the office of the Attorney-General of the Federation is also looking into the request of extraditing the indicted Cop to the United States of America.

Blackout In Maiduguri As ISWAP Destroys Electricity Power Lines

Members of the Islamic State in West Africa Province (ISWAP) have destroyed four high tension towers that supply electricity from Damaturu to Maiduguri in Borno State.
It was gathered that the terrorists blew up the electricity facility on Friday night.

According to Daily Post, the incident which occurred in Garin Kuturu village, about two kilometers away from Auno, started precisely around 7 pm and lasted up to 10 pm.

An eyewitness stated that four towers were completely destroy, while the fifth is about to collapse.

“With this development, I don’t think Maiduguri will have light again soon. While the government is talking about restoring the lines I think it is time they started talking about solar since we have it in abundance and forget about trying to reconnect the state with the national grid,” Dauda Habu, a resident of Polo GRA disclosed.

This is coming barely two days after ISWAP reportedly attacked and killed many Nigerian soldiers in an ambush in Borno State.

It was gathered that the terrorists attacked the troops on Thursday in Monguno, which is over 100km north of Maiduguri, the state capital.

Military sources revealed that Boko Haram/ISWAP killed many soldiers during the attack that lasted for many hours.

The source revealed that military vehicle, several weapons and ammunition were stolen during the attack.

‘I Am Not Perfect’, 2Face Idibia Says As He Shares Loved Up Photo With Wife, Annie To Mark 46th Birthday

Legendary Nigerian musician, songwriter and producer, Innocent Ujah Idibia better known as 2face Idibia has taken to his social media to share a loved photo with his wife, Annie to mark his 46th birthday.

The singer who’s turned 46 years today also apologized publicly to his wife, Annie revealing that he’s not perfect and working to become a better version of himself.

Sharing a loved up photos, he wrote; “I know I’m not without mistakes neither I’m I perfect but we keep learning and working and striving to become the best version of ourselves. It is well. HAPPY NEW YEAR TO ME. MAY THE ALMIGHTY GUIDE ALL OF US AND PROTECT OUR HOMES .”

It will be recalled that Annie Idibia earlier this month had publicly accused her husband Innocent Idibia of engaging in extramarital affairs with one of his baby mama, Pero.

Annie in series of posts on her Instagram page on Thursday, accused her husband, Tuface of allowing his extended family to interfere in their marriage. She also accused 2baba of having sex with his former girlfriend while using the excuse of visiting his kids to cover up.

The outburst sparked mixed reactions from both celebrities, and fans with many condemning Annie for bringing her family affair on social media.

‘How Obaseki Paid Edo PDP Billions Before Re-Election, Facing Challenges As Party Leaders Push For Juicy Appointments

‘How Edo PDP Received Billions From Obaseki Before Re-election, Still Want To Dictate Cabinet Appointees’

As controversy continues to trail Governor Godwin Obaseki’s refusal to name his cabinet almost a year after his re-election, details have emerged on why the Edo State governor has chosen to bide his time.
Recall that following his disqualification during the screening of governorship aspirants for the 2020 governorship election over discrepancies in his certificate in All Progressives Congress (APC), Obaseki had defected the Peoples Democratic Party (PDP).

Obaseki who was first elected in 2016 on the platform of the APC was reportedly pushed out of the party by the former National Chairman of the party, Comrade Adams Oshiomhole.

But since his swearing in for a second term on November 12, 2020, Obaseki is yet to appoint commissioners and other aides.

The Edo state Governor has only appointed the Secretary to the State Government (SSG), Chief of Staff and a few aides.

This has however caused dissatisfaction among members of the PDP in Edo State who are expecting to be appointed into the Governor’s cabinet.

Sources within the now ruling party told Naija News on Friday night that PDP leaders failed to negotiate properly with Obaseki before giving him the party ticket.

While stating that the Edo governor allegedly paid billions to secure the party’s ticket in 2020, a source, who is an ‘old member’ of the PDP, stated that party leaders should have used that opportunity to negotiate for positions with Obaseki who was desperate at that time.

The source accused the Tony Aziegbemi-led PDP State Working Committee (SWC) and his predecessor of not negotiating political positions properly.

“When Obaseki dangled huge amount of money before them they forgot about negotiating positions before the election,” the source alleged.

“They are now expecting to hold Obaseki to ransom with appointments after they had collected the money.”

The source disclosed that Obaseki’s delay in naming his commissioners and aides is connected to PDP leaders’ push to get juicy appointments after allegedly receiving huge amount of money to hand over their guber ticket.

On if the delay in constituting the cabinet may be giving Obaseki a bad name, as many may see him as being too bossy, another source told Naija News that the governor “doesn’t care.”

“Members of the APC close to the governor had hinted on his character before his defection.

“Someone who clashed with a lot of people while looking for his second term ticket, what do you expect now that he has gotten it?” he asked.

The source revealed that some key men close to the governor who served during his first-time and were members of the APC are still active in running the administration.

According to the source, Governor Obaseki might make sure only those that defected with him to the PDP get all the juicy position when he finally decides to name his cabinet.

On if Obaseki may leave the PDP, the source stated that the governor is not plotting to leave the party but if he does the only losers will be the PDP.

“They have shown that all they care about is just the money. They would lose if Obaseki or Deputy Governor Philip Shaibu leaves the party,” he added.

Recall that reports had emerged on Monday claiming Deputy Governor Philip Shaibu had perfected plans to dump the PDP.

According to reports, marathon meetings were held outside the country last week between the Edo Deputy Governor and some party bigwigs in the country ahead of his planned defection

“Philip Shaibu is one man I admire as a political tactician and Maradona in the Edo political space. Quitting PDP may frustrate the developmental plans of the Obaseki’s administration due to his nuts and bolts experience as a voracious student of politics, as well as his sterling track record and pedigree as a fearless and charismatic lawmaker,” a source had to Vanguard.

According to the source, there are strong indications that the Deputy Governor may not join any other political party immediately after quitting the PDP.

But in an interview with NaijaNews, the Chief Press Secretary (CPS) to the Deputy Governor, Comrade Ebomhiana Musa, denied the report.

While admitting that Philip Shaibu travelled abroad for his vacation, Musa said his principal only spent time with his family.

According to him, the reports of his defection were only the figment of the authors imagination.

Source: Naija News

Why Well-To-Do Pastors Must Pay ‘Pentecostal Tax’ To Govt – Osinbajo

The Vice President, Prof Yemi Osinbajo on Friday charged religious leaders, especially well-to-do pastors, to pay their ‘Pentecostal tax’ which will go a long way in telling their stories, achievements and life experiences in the Ministry to affect generations.

He made this call in Lagos during the Public Presentation of the biography of the founder and General Superintendent of the Deeper Christian Life Ministry entitled “Kumuyi: Defender of the Faith”.

The Vice President asked religious leaders in the country to emulate early apostles of the gospel who also discharged the responsibility of paying tax, stressing that religious leaders in the country owe this as an obligation.

According to him, “For the successful preacher of the gospel of the Lord Jesus Christ, there is a fourth tax. This is the Pentecost tax; the tasks to tell what you have gone through in ministry and this is a huge responsibility.

“The saints before us, discharge that responsibility. So we are beneficiaries of the Acts of the Apostles, the stories of the men and women who carry the gospel first to Jerusalem to Judea, to Samaria, and then to the end of the earth. Their stories continue today, and the baton has been handed over to our own generation.

“This Pentecost tax is one that we must all pay, it is one that men and women who preach the gospel must pay. It is not about personal reflections and personal aggrandisement. They owe an obligation and it is that obligation that produced the Book of Acts. So the book, ‘Kumuyi: defender of the faith’ just begins the work of discharging that tax, that obligation to tell the story of the missionary journey.”

Osinbajo further explained that every successful person must pay three forms of taxes including a Civic tax which is “the obligation of the successful to write their stories and share the histories of the phenomena they have become, in order to instruct, to admonish and to inspire the present and the future”.

“Every person, especially those who succeed in their endeavours owe society three forms of tax. The first is Income tax; personal income tax. The second is a Social tax, another name for that is philanthropy; the obligation of the wealthy or simply those who have to give back to society”.

Fuji star, KWAM 1 visits Tinubu in London

Fuji music icon, King Wasiu Ayinde Marshal better known as KWAM 1 on Friday paid a visit to Bola Ahmed Tinubu, a former governor of Lagos State who is currently in the United Kingdom for medical attention.

It is believed that the visit is to wish the former governor a quick recovery.

KWAM 1’s visit will be one of the numerous visits received by Tinubu since he left the shores of this country in July.

President Muhammadu Buhari in mid August visited him among other politicians including Kano State Governor, Abdullahi Umar Ganduje, former Ogun state governor, Ibikunle Amosun, Members of the Lagos state house of Assembly, Lagos state governors, Babajide Sanwo-Olu.

According to speculations, Mr Tinubu who is the national leader of the ruling party, All Progressives Congress (APC) has interest in the country’s number job in the next general elections in 2023.