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Biafra Rally Took Place In Finland In Simon Ekpa house But He Was Hiding -IPOB

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The Indigenous People of Biafra (IPOB) has warned people following the acclaimed Nnamdi Kanu’s disciple, Simon Ekpa, to retrace their steps before it is too late.

The pro-Biafra group noted that the agitation for Biafra was not for criminals and scammers who were paid by the Nigerian government to create insecurity and criminality to blackmail IPOB and Kanu.

IPOB in a release by its Media and Publicity Secretary, Emma Powerful, said a Biafran rally held in Finland on July 7 near Ekpa’s building but he failed to come out.

Commending its hardcore members who attended July 7, 2023 Finland rally held at Lahti, Powerful explained that it was part of IPOB’s global sensitisation agenda on the plight of Biafrans and illegal incarceration of their Leader, Mazi Nnamdi Kanu, adding that the rally would continue around Europe.

The group said, “IPOB leadership commends all and sundry who participated in the just concluded rally to educate the people of Finland and the rest of the world that IPOB is a peaceful and one organisation without any factions. It is unfortunate that during the epic event at Lahti, Finland, the self-acclaimed Biafra Crime Minister was nowhere to be found.

“Finnish people wondered why the so-called Biafra Prime/crime minister didn’t show up to address his people but chose to hide even when the rally took place in front of his apartment building. We thought he dared IPOB to come and protest in Finland, but at last, he was nowhere to be found. How can a true IPOB member hide from fellow Comrades?”

The group said, “We are using this medium to warn the ignorant followers of this scammer and one room Crime Minister to retrace their steps before it becomes too late. It is obvious that there is nothing in the fish brain. The message has been passed to Finnish people so that they will not be deceived.”

It unequivocally stated that Biafra agitation was not for criminals and scammers, while insisting that those contracted and backed by the compromised Nigeria Security and government to enforce a non-existing sit-at-home will be held accountable someday.

“Many days are for a thief, but one day will be for the owner of the house. Let the public be notified that IPOB led by Mazi Nnamdi Kanu never ordered and enforced any sit-at-home in Biafra territory.

“We want to pose this question to some media houses especially local media and a few foreign media houses who present the infiltrator as factional leader of IPOB or Biafra Prime Minister (PM), why did he not come out and address his fellow comrades who came to visit him, if he claims to be an IPOB leader?”

IPOB spokesperson, however, appealed to the media to stop conferring on Simon Ekpa credibility by making him appear as if IPOB has a factional leader. “There is nothing like that.”

The statement partly read: “If the leader of the auto pilot criminal group, the master scammer and agent provocateur called Simon Ekpa is an IPOB member, why was he not present or refused to attend the IPOB protest and rally held in Lahti, Finland at the front of his apartment building close to his residence in the city of Lahti, Finland on the 7th day of July 2023? This was the protest and rally ground in that city and was only a few poles from his living quarters?

“We also want the public to be aware and recall that our leader, Mazi Nnamdi Kanu, categorically said in his numerous and landmark broadcasts on Radio Biafra that IPOB does not belong to the Kanu family. IPOB is a well structured and organised movement by Biafran volunteers in all parts of the world seeking the exit of Biafra from Nigeria through a referendum.”

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Job Losses, Factory Closures Loom As Unsold Goods Pile Up — MAN

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AGAINST the backdrop of sustained pressure in the foreign exchange market and high cost of production, the Manufacturers Association of Nigeria, MAN has indicated that inventory of unsold goods is escalating to levels now threatening the existence of companies operating in the production sector of the economy with attendant job losses.

Findings show that as of the weekend the foreign exchange market had recorded over 254 per cent plunge in the value of the naira since flotation of the currency by the Central Bank of Nigeria (CBN) in June 2023.

Recall that the naira traded for N471 per dollar in the official I&E market on June 13, 2023 before the floatation of the currency, but exchanged for N1,665.50 to a dollar as at February 23, 2024 on the Nigerian Foreign Exchange Market (NAFEM), indicating a depreciation of more than 253.6 per cent over the eight-month period. The forex crisis is also stoking inflation, and coupled with high energy costs, purchasing power has continued plummet, stifling demand for goods.

Speaking on the impact of this development on the manufacturing sector, Director General, MAN, Segun Ajayi-Kadir, said: “There are reports that across the board, many warehouses and plants of many manufacturing firms are stockpiled with unsold goods manufactured last year. “The development is as a result of the devastating effects of the exchange rate crisis, inflation, fake and sub-standard goods, smuggling and other macro-economics challenges.”

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism

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In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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