Nigeria’s Forex Reserves Decline By $1.6 Billion | 5 Things That Should Matter Today

  • Labour Party attacks Peter Obi for incessant remarks against Tinubu
  • Nigerian Air Force announces sale of Presidential airport
  • 9,000 civil servants fail promotional exams
  • Nigeria’s Forex reserves decline by $1.6 billion
  • Vice President Shettima faces Peter Obi over Wike’s ₦15.5 billion proposal

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

Labour Party attacks Peter Obi for incessant remarks against Tinubu

The Bashiru Lamidi Apapa faction of the Labour Party (LP) has accused Peter Obi, the 2023 presidential candidate, of openly attacking President Bola Tinubu and his political party, All Progressives Congress (APC).

Abayomi Arabambi, a member of the Labour Party’s faction, heavily criticised Peter Obi for carrying the role of an opposition party to the ruling government; he said that Obi is bereft of the spirit of patriotism and goodwill of the nation.

The statement about Peter Obi’s recent behaviour has been described as frustration. Thereby, the Apapa faction has chosen to alienate themselves from Obi’s unguided actions.

“The LP National Chairman, Alh Bashiru Lamidi Apapa, therefore distances the party from the unguided utterances of Peter Obi, who is well known for cooking up figures, data and indices to deceive the gullible Nigerians and his daft infamous ethnic irredeemable, irresponsible, irredentist Obi-dient supporters.”

Nigerian Air Force announces sale of Presidential airport

The Nigerian Air Force has announced its decision to sell the Falcon 900B aircraft and is interested in buyers bidding for it in dollars.

Allegedly approved by the president to proceed with the sale of the aircraft, the Nigerian Air Force submitted guidelines in which the aircraft can be bought.

“In compliance with provisions of the Public Procurement Act 2007, the NAF at this moment invites all interested parties to submit bids for aircraft purchase.” the NAF announced.

9,000 civil servants fail promotional exams

Over 13,000 civil servants attended the 2022 Federal Civil Service Promotion exams, and over 9,000 reported failure.

According to the list created by the Civil Service Commission, the civil servants who held the exams had to partake in 69 Computer Based Test centres. When the result was collated, it revealed that 3,851 civil servants had passed the Federal Service exams.

The next Civil Service promotion exam is set to be held from December 11 to December 16; all interested members are advised to prepare.

Nigeria’s Forex reserves decline by $1.6 billion

Nigeria’s Foreign Exchange reserves have declined from $1.6 billion to $32.97 billion since the apex bank (CBN) attempted to unify the foreign exchange rates.

On June 14, the Central Bank of Nigeria instructed Deposit Money Banks to remove the rate cap on the naira at the Exporter’s Window of the foreign exchange market to guarantee the free-floating of the naira against the dollar.

According to data from CBN, Nigeria’s gross foreign exchange reserves stood at $34.62 billion on June 15, and in December, it fell to $32.97 billion.

Vice President Shettima faces Peter Obi over Wike’s N15.5 billion proposal

The Vice President of Nigeria, Kashim Shettima, has challenged LP’s opposition leader, Peter Obi, concerning the N15.5 billion proposed renovation of the vice president’s office by Minister of the FCT, Nyesom Wike.

The Minister of FCT, Nyesom Wike, had proposed that the completion of the VP’s office be included in the 2024 budget since it had been left untouched during Goodluck Jonathan’s regime.

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