The Naira Continues Free Fall, Dropping to ₦1,315/$; Labour Party demands Tinubu remove Minister of state for Labour | 5 Things That Should Matter Today

  • The Naira continues free fall, dropping to ₦1,315/$
  • Nigeria and Namibia collaborate on pan-African movie productions
  • High Court orders Tinubu and South-East governors to pay ₦8 billion restitution fee to Nnamdi Kanu
  • Supreme Court upholds PEPC judgement, declares Tinubu legitimate election winner
  • Labour Party demands Tinubu remove female Minister from post

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

The Naira continues free fall, dropping to ₦1,315/$

Naira and dollar

The scarcity of dollars in Nigeria has destabilised the economy, causing the value of the foreign currency to further appreciate against the naira.

The Naira has resumed its free fall after being traded at ₦1,225 per dollar last week in the parallel market (black market) and is now being sold for ₦1,315/$ in Lagos State.

The Bureau De Change operators (BDCs) are buying dollars at the rate of ₦1,300 and selling at ₦1,315.

Nigeria and Namibia collaborate on pan-African movie productions

Play Network Studios and Mondjila Studios have announced a partnership for Namibian film production.

In a statement released, the studios claimed ‘The Skeleton Coast’ was a bold partnership with Nigeria’s Play Network Studios.

“Through The Skeleton Coast, Chartes Okpaleke of Play Network Studios, with Panashe Daringo of Mondjila Studios, are partnering on a true pan-African film in what is intended to be the largest collaborative production on the continent yet.” the statement read.

High Court orders Tinubu and South-East governors to pay ₦8 billion restitution fee to Nnamdi Kanu

A High Court in Enugu has ordered that President Tinubu’s administration and the South-East governors are to pay ₦8 billion to Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB).

Part of the court’s ruling also mentions the submission of letters of apology from those noted above to Nnamdi Kanu for the abuse of his fundamental rights.

“Ordered the Respondents to, jointly or severally, pay the sum of N8,000,000,000.00 (Eight Billion Naira) to the Applicant (MAZI NNAMDI KANU), being monetary damages claimed by the Applicant against the Respondents jointly and severally for the physical, mental, emotional, psychological, property and other damages suffered by the Applicant as a result of the infringements of his fundamental rights by the Respondents.”

Supreme Court upholds PEPC judgement, declares Tinubu legitimate election winner

In a sitting at the Supreme Court on October 26, the seven-member panel led by Justice John Okoro gave the final verdict concerning the February 25 presidential election between Atiku Abubakar (PDP), Bola Tinubu (APC), and Peter Obi (LP).

Just as the Presidential Election Petition Court (PEPC) had ruled on September 6, the Supreme Court has also declared Bola Ahmed Tinubu as the legitimate election winner, making him the President of Nigeria from 2023 till 2027.

The Supreme Court unanimously dismissed Atiku and Obi’s appeal, leaving them no other chance to battle the election outcome anymore.

Labour Party demands Tinubu remove female Minister from post

The Labour Party (LP) has urged President Tinubu to sack Hon. Nkiruka Onyejeocha, the Minister of State for Labour, for failing to perform and concentrate on her roles and duties.

National Youth Leader of LP, Prince Kennedy Ahanotuat, had made the request at a news conference in Abuja.

“We are calling on the present government to relieve Onyejeocha of her ministerial role as she has lost focus and refused to concentrate on the assignment given to her,” he said.

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