Author: Chronicle Editor

The Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar. The devaluation of the local currency was confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the Investor and Exporter (I&E) forex window rate of N410.25 as its official exchange rate to the dollar. The apex bank had nearly two weeks ago, removed the N379 to dollar exchange rate, the previous official rate from its website. The naira was yesterday exchanging at N487 to dollar at the parallel market. CBN Governor, Godwin Emefiele said Nigeria, like other emerging market countries…

Katsina State Police Command have killed five suspected bandits, arrested 16 others and recovered 69 rustled cows and some quantities drugs from them. Spokesman for the police in the state, SP Gambo Isah, disclosed this in a statement on Wednesday in Katsina. Isah said that the five bandits were neutralised when the police engaged them in a gun battle in Kafur, Danja, Dutsinma, Safana, Batsari and Makera in Funtua. Bandits, herdsmen kill 58 in Niger, Benue, Plateau He said that 15 others were arrested during the encounter, while, Musa Shamsudin, 25, was nabbed for allegedly going into the forest to…

The presidency has explained why President Muhammadu Buhari did not attend the funeral of late chief of army staff Lt. Gen. Ibrahim Attahiru and 10 other military officers who died in an air crash. Although Buhari had in a statement released by his spokesman Femi Adesina, expressed sadness over the air crash condoling with families of the deceased, the military, and Nigerians in general, describing them as “heroes who paid the ultimate price for peace and security in the land.” But Nigerians were displeased over the president’s absence at the funeral rites. Some other observers wondered why the president who…

The Ijaw Youths Council (IYC) Worldwide has shut down the Bayelsa office of the Niger Delta Development Commission (NDDC) and the Mbiama-axis of the East-West road in protest against the refusal of the Federal Government to inaugurate a substantive board of the NDDC. Scores of youths, who flew the flags of IYC, were said to have stopped traffic along the ever-busy East-West road causing panic among motorists and commuters. The organisation had given a 30-day ultimatum, which expired on May 25th, for the Federal Government and the Ministry of the Niger Delta Affairs to constitute the board or risk total…

Two women were killed by stray bullets when gunmen and security operatives engaged in gunfire as hoodlums attempted to burn the Orji Divisional Police Headquarters on Owerri-Okigwe Road, which is under reconstruction. Security operatives made up of soldiers, policemen and Air Force officers engaged the hoodlums in a shootout. The situation forced two banks in the area to close. Customers and passersby took to their heels; vehicles fled in different directions; some drivers and passengers abandoned their vehicles and ran for dear life. Tension as police, gunmen duel in Imo The situation caused a heavy gridlock around the city. Stray…

The terror in the Southeast continued Tuesday as gunmen killed four policemen in a dawn attack at the Iwollo Divisional Police Station in Ezeagu Local Government Area of Enugu State. The station, vehicles, motorcycles and other property were burnt. The assailants took away a police van. In Owerri, the Imo State capital, stray bullets killed two women when security agents and gunmen exchanged gunfire following an attempt to burn a police station. In Ebonyi, a policeman accidentally blew himself up after detonating a hand grenade. Sources told our reporter that the hoodlums who attacked the police division Enugu came in…

Nigerian banks have insisted they will recall all loans owed to state governments, an action that could cause a strain on the fragile economy. The banks have an ally in Central Bank of Nigeria (CBN) Governor Godwin Emefiele, who insists that states must pay back all the loans extended to them by Deposit Money Banks (DMBs) and the apex bank. The commercial banks have written to the Federal Government to start deducting the loans from allocations going to the states under the Federation Account. Emefiele told reporters at the end of the Monetary Policy Committee (MPC) meeting in Abuja, yesterday,…

The Economic and Financial Crimes Commission, EFCC, has arrested one Mohammed Umar, a Bida, Niger State based politician and businessman, for alleged employment scam. Operatives from the Cybercrime Section at the EFCC headquarters, Abuja arrested Umar on May 18, 2021 following a petition from a victim whom he allegedly defrauded through a fake employment offer with the Nigeria Customs Service. Umar allegedly requested for the sum of N750, 000 from the victim to facilitate the employment. However, the victim gave him a deposit of N200, 000 and promised to pay the balance when he gets his appointment letter. The victim…

There was palpable fear in Imo State on Tuesday as gunmen engaged police in a duel as they attempted to burn Orji Divisional Police Headquarters situated on Owerri-Okigwe Road in Owerri under reconstruction. Security operatives made up of soldiers, policemen and Air Force engaged the hoodlums in shootout which resulted to casualties on the side of the hoodlums The situation caused panic in the area that forced two banks in the area to hurriedly close. Customers and passersby took to their heels as vehicles diverted while motorists scampered for safety after running out of their vehicles. The situation caused serious…

A suicide bomber was on Tuesday blown to pieces when a suicide vest he was wearing exploded on his body. The incident happened in Afikpo town, Afikpo local government area of Ebonyi state. A source in the area said the incident happened around 12noon. “He made an attempt at entering Amaizu/Amangballa Primary School but was turned back by the school security since he couldn’t justify his reason for visiting. He immediately started running inside a nearby bush before a big bang was heard,” the source said. The source also said residents scampered for safety when the bomb exploded but reconvened…