Nigerian Newspapers: 10 Things You Need to Know Thursday Morning

1. CBN Clears $7 Billion FX Backlog:

The Central Bank of Nigeria, under the leadership of Governor Yemi Cardoso, has successfully cleared the $7 billion foreign exchange (FX) backlog inherited by the governor. This achievement fulfills a crucial promise made upon Cardoso’s appointment, signaling a significant stride towards bolstering confidence in the Nigerian economy. The confirmation of settlement of all valid FX backlog claims was made by the CBN’s Acting Director of Corporate Communications, Hakama Sidi Ali.

2. Edo State Deputy Governor’s Suit Declined by Federal High Court:

A Federal High Court in Abuja has rejected the request by Edo State Deputy Governor, Philip Shaibu, for an order directing involved parties, including Governor Godwin Obaseki and the State House of Assembly, to maintain the status quo pending the hearing and determination of Shaibu’s suit to halt his impeachment proceedings. Shaibu’s legal action aims to thwart the state House of Assembly’s move towards impeaching him.

3. Senate Committee Investigates Killing of Soldiers in Delta State:

The Senate Joint Committee on Army, Navy, Defense, and Air Force convened a meeting to probe the recent tragic deaths of soldiers in Delta State. The inquiry, held on Wednesday, aimed to delve into the circumstances surrounding the killing of military personnel in the Okuama community of the Ughelli South Local Government Area.

4. Okuama Community Deserted Following Killing of Soldiers:

Governor Sheriff Oborevwori disclosed that the Okuama community in Ughelli South Local Government Area of Delta State, where army officers and men were killed, now stands deserted. Expressing concern over the unprecedented incident, Governor Oborevwori lamented his inability to establish contact with any community leaders.

5. National Assembly Passes Students Loans Act:

The National Assembly has approved the Students Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024. Following separate deliberations by both the Senate and the House of Representatives, the bill, based on the report of the Committee on Tertiary Institutions and TETFund, was passed.

6. Naira Rebounds Against Dollar:

The Nigerian naira experienced a notable rebound against the United States dollar on Wednesday, both at the official and parallel markets. Closing at 1,410/dollar at the parallel market and N1,492 at the official Nigerian Autonomous Foreign Exchange Market, the local currency showcased resilience against the greenback.

7. Chinese National Rescued from Kidnappers in Kwara State:

PengChao Zhang, a Chinese national known as Williams Kaka among his business associates, was rescued by the Kwara State Police Command from his abductors’ den in a state forest. After spending 10 harrowing days in captivity, Zhang was liberated by police operatives following extensive searches and investigations.

8. Tinubu Urges Restraint in Summoning Heads of MDAs:

President Bola Tinubu has appealed to members of the National Assembly to exercise restraint in summoning heads of ministries, departments, and agencies before parliamentary committees. Tinubu emphasized this during a Ramadan fast-breaking event with Speaker Tajudeen Abbas and the House leadership.

9. Katsina Governor Rejects Negotiation with Bandits:

Governor Mallam Dikko Umaru Radda of Katsina State has reiterated his stance against negotiating with bandits, citing concerns about not wanting to portray the government as helpless. Radda also advocated for state policing as a vital measure to combat insecurity, emphasizing the need for governors to take charge of security within their states.

10. Fire Ravages Buildings in Lagos Island:

A devastating early morning fire engulfed buildings in the Dosumu area of Idumota, Lagos Island, resulting in the destruction of properties worth millions of naira. The fire, which reportedly originated from the second floor of a four-storey building, quickly spread to adjacent structures, intensifying the damage.


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