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There was a slight controversy over the value of Naira to US Dollar on February 22, a few hours to ’s crucial general elections.

Currency was showing that one dollar was going for N184 at about 2100 hours, but it was just a glitch in its software, TheCable can .

US DOLLAR TO NAIRA GLITCH CAUSES PANIC AMONG NIGERIANS LESS THAN 24 HOURS TO ELECTION Dollars looted funds at Ikoyi

A check on the exchange rate at about 2300hours shows that the glitch has been fixed.

The Central Bank of Nigeria sold the greenback to bureau de change (BDC) operators at N357 per dollar on Friday.

Musa Ibrahim, a BDC operator, who spoke to TheCable from Lagos Island, said he bought $20,000 from the CBN at 357 per dollar.

US DOLLAR TO NAIRA GLITCH CAUSES PANIC AMONG NIGERIANS LESS THAN 24 HOURS TO ELECTION Screenshot 2019 02 22 at 20

“We collected from CBN today at the rate of N357, and each BDC operator is entitled to $20, 000,” he said.

Two members of staff at Google, who spoke off the record, confirmed to TheCable that this was just a bug, that is currently being fixed by the search giant.

According to Bloomberg currency rate, the dollar is currently trading at N361.8, with the local currency gaining N1.75 against the greenback.

US DOLLAR TO NAIRA GLITCH CAUSES PANIC AMONG NIGERIANS LESS THAN 24 HOURS TO ELECTION Screenshot 2019 02 22 at 20

A mail from TheCable to Google Press is yet to be replied — but an automatic response was received, stating that all queries will be addressed shortly.

Nigeria goes to the in less than 12 hours after this glitch, driving speculations and jokes on social media on how the incumbent may want to turn the economy around overnight.

US DOLLAR TO NAIRA GLITCH CAUSES PANIC AMONG NIGERIANS LESS THAN 24 HOURS TO ELECTION Dollar to naira controversy february 22 2019
Dollar to Naira controversy February 22. 2019. Credit Google

While some fear that their stacked dollars may have lost tremendous value, others are celebrating a rise in the value of the naira, but many are aware this is just a temporary glitch.

Whatever the case is, TheCable understands that the dollar is still trading at 358 to 360 at the foreign exchange market.

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Abass Sulaiman Adegoke, well known as Adegoke is a student of Federal Polytechnic Ede studying Civil Engineering, He is a media enthusiast, loves traveling, and has a special interest in personal development.

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Alleged N702m fraud: EFCC closes case against Okupe

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Alleged N702m fraud: EFCC closes case against Okupe Alleged N702m fraud: EFCC closes case against Okupe Doyin Okupe 0305 1024x620

The Economic and Financial Crimes Commission, EFCC, Wednesday, closed its case in a 59-count charge, bordering on money laundering, criminal diversion of funds to the tune of N702,000,000 against former Senior Special Assistant to ex-President Goodluck Jonathan on Media, Doyin Okupe.

Okupe was facing prosecution by EFCC before Justice Ijeoma Ojukwu of the Federal High Court, sitting in Abuja.

EFCC spokesman, Tony Orilade disclosed this in a statement in Abuja.

He added, “At today’s proceedings, prosecution counsel, Ibrahim Audu presented his last and sixth witness, Shuaibu Salisu, former Director Administration and Finance in the of National Security Adviser ONSA, who presently works with the National Intelligence Agency, NIA.

“Salisu told the court that “Sometime in 2012, Chief Okupe came to the Office of the National Security Adviser, ONSA, and after their discussion, I was directed to make a payment of N50 million (Fifty Million Naira) to him.”

According to him, “Okupe provided his account details, where I paid the amount into the bank account of Value Trust Investment.”

He added that he was further directed by the ONSA to be paying N10 million monthly (Ten Million Naira) to Okupe for a period of over two years, which he said was reduced to a monthly N5million (Five Million Naira) towards the end of 2014 due to paucity of funds.

He said he made other payments to Okupe as directed, saying that at a point he was instructed to pay the defendant N6, 000, 000.

Further, Salisu revealed that sometime in 2014, the then National Security Adviser, NSA, Sambo Dasuki directed that he paid the sum of N35million to an account provided by Okupe and that he can also recall paying N50million in cash to Okupe on Dasuki’s directive.

He told the court that he only obeyed directives in all the payments he made to Okupe and didn’t know what the monies were meant for.

When asked if there were evidences of the payments, the witness reportedly told the court that he usually provided Okupe with the payment vouchers, which he usually signed.

When also asked if all the payments were captured in payment vouchers, Salisu was said to have replied in the negative.

Speaking under cross-examination by Okupe’s counsel, Akinlabi Akinbade, the witness disclosed that Okupe was not the only person that received payments from ONSA. “Anybody that the NSA directs that payment be made to, we make payment,” he said.

Also, Under same cross-examination, the witness said he had no reason to believe that the payments he made were from an illegal source.

In his words, “Why would I assume it was illegal? I was only directed to make payments,”

Further , he said some of the payment instructions he carried out while working in the ONSA came verbally while others came by writing.

He added that in the case of the payments to Okupe, all the instructions were verbal.

However, the matter was adjourned to June 26, for the defence to open its case.

 

Source: Daily post

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Buhari speaks on naming his cabinet

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buhari speaks on naming his cabinet Buhari speaks on naming his cabinet Buhari1 1024x683

Presidential spokesman, Femi Adesina, has said President Muhammadu Buhari will announce his cabinet very soon.

Buhari is yet to name new Ministers, 26 days after he was sworn in for his second term in .

The president has since made just three appointments: Mele Kyari as the group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC) and renewal of Ahmed Idris’s appointment as the Accountant-General of the Federation (AGF) and renewing the appointment of Godwin Emefiele, governor of the Central Bank of (CBN).

In his first term, it took Buhari six months to announce his cabinet.

But speaking in a chat with The Interview, Adesina said “the circumstances are not the same”, adding that it would not take as long as it did in 2015.

“Nigerians will not have to wait a day longer than necessary, before they have a cabinet,” Adesina said.

“And as the president himself has said, the process won’t take as long as it did in 2015, because the circumstances are not the same.”

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