IMF disagrees with Buhari, insists on naira devaluation

The Central Bank of Nigeria needs to devalue the naira by adjusting the official exchange rate of N199/dollar to a more market-determined exchange rate, the International Monetary Fund has said.

This position sharply differs from that of President Muhammadu Buhari, who insisted that Nigeria would not devalue the currency.

A former Secretary-General of the Commonwealth of Nations, Chief Emeka Anyaoku, has, however, warned that naira devaluation could trigger an economic disaster for the country, urging Buhari not to yield to pressure to devalue the currency.

MTN withdraws case against NCC, pays N50bn fine

Minister of communication, Mr. Adebayo Shittu

MTN on Wednesday withdrew its lawsuit against the Nigerian Communications Commission over N1.04tn ($5.2bn) fine and paid N50bn ($250m) towards a probable settlement.

But the Federal Government said the next line of action would be determined after verifying the MTN’s payment claim.

The telecommunications company said its decision was based on renewed steps towards a negotiated settlement and to create a good atmosphere for further negotiations.

Olajumoke’s turnaround and her husband’s position

The bread seller turned model, Olajumoke Orisagunna, is still trending. She has become the new face of Nigerian Designer, Layo G and featured prominently in the designer’s new lookbook released earlier this week.

NAFDAC ‎bans beans importation

The Nigerian Agency for Food and Drug Administration and Control has on Thursday said it has placed a ban on the importation of beans in the country.

The Acting Director General of the Agency, Mrs. Yetunde Oni, said the ban is not for the ones produced in the country, but ‎on the ones that are imported.

She said this in Minna during an Awareness/Sensitisation Workshop on Safe and Responsible use of Regulated Agricultural inputs for Stakeholders in the North Central Zone, adding that only beans screened by the Agency would be allowed into the country.

Air Force Chief’s wife, Amosu, returns stolen N381m to FG

The Economic and Financial Crimes Commission has recovered N381m from Mrs. Omolara Amosu, the wife of the immediate past Chief of Air Staff, Air Marshal Adesola Amosu.

Sources within the EFCC said on Saturday that the money was recovered in three tranches: N180m, N101m and N100m.

The detective told our correspondent that the money was traced from the account of the Nigeria Air Force to the bank accounts of a company in which Amosu’s wife is a director.

Security operative quizzed for shooting inside Aso Rock

The Presidency is currently investigating a case of security breach that occurred inside the Presidential Villa, Abuja, on Tuesday

The incident, our correspondent learnt, involved one of the security operatives attached to a delegation of the Danish Foreign Affairs Minister, Mr. Kristian Jensen, who visited Vice President Yemi Osinbajo on Tuesday.

Death toll rises to 18 in Rivers shootings

Death toll in the gunfight between soldiers and militants in Gokana and Khana Local Government Area of Rivers State has risen to 18.

Though different figures had been quoted by some people in Ogoniland on the number of persons killed in the clash, the 2 Brigade of the Nigerian Army insisted on Wednesday that nobody died during the operations in Yeghe, Gokana LGA.

Soldiers attached to the Brigade had on Monday raided the residence of a former militant leader in Yeghe community, Solomon Ndigbara, obviously in search of the ex-warlord.