• If you cannot perform, leave – Tinubu warns ministers
• JP Morgan predicts Naira will trade at ₦850/$ by December
• EFCC bans night raids after public scrutiny for wrongfully arresting OAU students
• World Bank admits to giving over $11 billion to Nigeria in the past three years
• Naira gains against the dollar in the official market

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

If you cannot perform, leave – Tinubu warns ministers

President Bola Tinubu warned all government officials, advising them to leave their posts should they find it difficult to perform their duties effectively.

The president said he had a one-track mind, which was to succeed in meeting the expectations of Nigerians by all means.

This statement was made on November 1 at the Presidential Villa in Abuja, with the attendance of ministers, permanent secretaries, presidential aides, and top government officials.

“If you are performing, there is nothing to fear. If you’re not performing, we review, and if you cannot perform, you leave us,” he said.

JP Morgan predicts Naira will trade at ₦850/$ by December

JP Morgan, an American-based global financial services firm, has predicted that the Nigerian Naira would appreciate ₦850/$ by the year’s end.

The prediction was made on November 1, and according to the financial firm, achieving this rate would be due to the enforcement of a restrictive policy, more attractive rates and foreign exchange levels that intimidate dollarisation despite attracting other foreign investment.

“The interbank FX rate has risen in recent days to over ₦900, from ₦750, thereby significantly closing the gap to the parallel rate, which is now just above ₦1000,” the report reads.

EFCC bans night raids after public scrutiny for wrongfully arresting OAU students

The Economic and Financial Crimes Commission (EFCC) recently came under fire from netizens and Nigerians as they raided an off-campus hostel at midnight, wrongfully arresting 69 boys and claiming they were fraudsters.

The EFCC had gone on a sting operation on November 1 at 1 a.m., picking up students of Obafemi Awolowo University (OAU) and branding them criminals as they published their names on the internet.

Since this event, the EFCC’s Chairman, Ola Olukoyede, instructed the ban on night sting operations and the students who have been “duly profiled” have been released by the commission.

World Bank admits to giving over $11 billion to Nigeria in the past three years

The Country Director of the World Bank for Nigeria, Shubham Chaudhuri, revealed that the bank had committed over $11 billion in the last three years of the Nigerian government at all levels.

Speaking at the three-day retreat consisting of ministers, permanent secretaries, top government officials, and presidential aides at the Presidential Villa in Abuja, Chaudhuri stated that Nigeria was in a critical stage and at a crossroads.

“Although we are the World Bank, we’re a development organisation, and over the last three and a half, four years that I’ve been here, our board has committed over $11 billion in financing for the government, and our financing is meant to go government at both the federal and at the sub-national levels. So we’re here to support your programmes, and we take your guidance,” he said.

Naira gains against the dollar in the official market

The Nigerian currency (₦) has gained remarkably well against the US dollar in the official market.

The growth was noticed on Wednesday, November 1, as the previous rate was ₦815/$ but closed at ₦786.02/$.

The rate declined in naira as it traded for ₦1,1170/$ at the black (parallel) market.