Blafra Fixes News Date For Nnamdi Kanu's Appeal

 Nigerianewslite

The Appeal Court has scheduled Tuesday next week for the hearing of the appeal filed by Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, against the Federal Government.

Kanu is challenging the remaining seven count charges filed against him by the Nigerian government.

Daily Post reports that Justice Binta Nyako of an Abuja Federal High Court, on April 8, struck out eight out of the 15-count treasonable felony charge the Federal Government preferred against Kanu.

Naria Falls Heavily Against Us Dollar, As report Rank It 11th Worst In The World

Nigerianewslite

 Nigeria’s currency, Naira, continued its depreciation against the US dollar, and it is now officially at its lowest level on the official market.

Data from FMDQ securities shows that Nigeria’s currency, Naira, fell to its lowest in 2022 on Tuesday, September 6, to close the day’s trading at N436 per dollar at the Investors and Exporters (I&E) market, the country’s official foreign exchange market window.

This is a second straight day of record-breaking depreciation after closing at an 8-month low on Monday at N434.7 per dollar. 

Naira depreciation has been attributed to the dollar shortage as Nigeria continues to struggle to diversify and improve foreign exchange inflows.

Tuesday rate means Naira has depreciated by 3.21 per cent when compared to N422 quoted on the first trading day this year.

At the parallel market, popularly called the black market, Naira also depreciated heavily as currency traders sold to buyers at N710 per dollar on Tuesday.

The local currency has depreciated by 20.42 per cent at the black market from N565/$ at the beginning of the year.

Meanwhile, a new report has ranked Naira as one of the worst performing currencies in the world against the US dollar.

According to the latest ranking by Hanke’s Currency Watchlist, Naira is the 11th worst-performing currency in the world.

The rating, which was as of September 2, 2022, also put the Venezuelan Boliver in the number one spot as the worst-performing currency globally, while the Zimbabwean RTGS Dollar is number two

 The Lebanese Pound, the Sudanese Pound and the Syrian Pound occupy the third, fourth and fifth spots, respectively.

West African neighbour currency, Ghana Cedi, is in the 13th position, while the currency of war-torn Ukraine, Hryvnia, ranks 14th among the list of 19 currencies.

Join the conversation

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Group Of Woman Seen Lying On The Road In Umuahia praying To God For Good Leader

Nigerianewslite

 According to eyewitnesses, the women were wailing in prayer for God to send good leaders to help Abia State.

 A video has captured the moment a group of women reportedly from Methodist Church Nigeria prayed to God for good leaders at the popular OPET junction in Umuahia, Abia State on Tuesday, September 6.  

According to eyewitnesses, the women were wailing in prayer for God to send good leaders to help Abia State.

Facebook user, Victor Dickson who shared a video from the scene said the women were "pleading 

Reacttions As Amara Wife Of Ex-Super Eagles Kanu Nwankwo Shows Her Natural Beaulty

 Nigerianewslite

A few moments ago, fans and a plethora of social media followers of Amara, the beautiful mother of three, wellness coach and wife of ex-Super Eagles legendary striker, Kanu Nwankwo, were expressing their reactions after she showed off her natural beauty.

These photos were shared on her verified Instagram account, where she has amassed for herself a large number of followers. In the new photos, the 38-year-old ageless beauty can be seen relaxing in a garden while flaunting her extreme beauty in an Ankara gown, a braided hairstyle, and sunglasses. Interestingly, what many do not know about the scintillating wife of the ex-Super Eagles captain is that she is someone who likes to show off her beauty in different outfits to her fans because of her love for fashion. Nevertheless, social media has become an avenue that celebrities use to show off their stunning looks to the admiration of their large number of fans.

While releasing the photos, she added a caption that reads, "Take care of your own needs first so you can show up for others with a full cup."

NNPC Reveals How Much Petrol Will Cost When Subsidy Is Removed Next Year

 Nigerianewslite

Chief Executive Officer of NNPC, Mele Kyari Credit: NNPC archives Source: Twitter

The NNPC has said that petrol could cost as much as N462 per litre when the subsidy is removed in 2023

The company said it pays about N297 per litre to subsidise petrol in the country and stated that the price would increase significantly in 2023

It said that the total landing cost for petrol is about $1.283 per litre for the second quarter of 2022

According to the NNPC, the average daily importation of fuel between January and August 2022 was 68 million litres which it pays N297 per litre to subsidise.

A statement by the company said the total volume of petrol imported into Nigeria was 16.46 billion litres since January 2022 and translated to a supply of 68 million, a BusinessDay report said

Company moves to charge federal government for subsidy

The company stated that it imported about 22.35 billion litres in 2021, reaching 61 million litres per day.

Oil marketers have been forced to review their pricing following the rising price of crude oil.

Due to this, the NNPC has become the supplier of last resort for marketers in Nigeria and has continued to report the monthly petrol cost under-recoveries to the appropriate authorities.

The company stated that the average second-quarter of 2022 international market set the landing cost of petrol at $1,283 per metric tonne and the approved marketing and distribution cost of A146 per litre. Also, these cost elements translate to a retail pump price of N462 per litre and N297 per litre for an average subsidy.

The costs also translate to an annual estimate of N46.5 trillion on the belief of 60 million litres of petrol supply every day. However, the NNPC said this would continue to be adjusted by market demand.

NNPC had said it will start to charge the federal government for subsidy beginning next year.

In seven months, NNPC remits nothing to Federal Government

Recall Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPC) has not remitted into the federation account for seven consecutive months as it battles huge subsidy payments.

The company, which said it is adopting the Saudi Arabia-owned Aramco model, has deducted funds meant for the Federation Accounts Allocation Committee (FAAC) to cover petrol subsidy costs over time, resulting in zero revenue payments to the federal government.

According to the latest report by the company, N448,78 billion was deducted in July to cover subsidy costs

Livnig Christ Mission Kanu Branch Celebrate Her Silver Jubilee

 

Big Brother Naija season 6 housemate, Jackie B, has revealed that Whitemoney is the kind of man she wants

Nigerianewslite

 Tega had requested her if she was interested in starting something intimate with Whitemoney in the house.

In response, Jackie B professed her timeless love for the Whitemoney.

According to her, “I have a lot of love for him.”

“I have a lot of respect for him and he’s positively somebody that I can date, for certain.

 I’m not saying that it’s not possible for me to date him. It can honestly happen but I have to reprogram my mind to start seeing him in that way.

“But if I’m with him, I know I won’t even suspect him for one second.

“He’s a mature man, that’s the type of man that I want, a grown-ass man that knows what he wants. That’s my type of person,” she said.

It could be recalled that Whitemoney recently revealed that he’s attracted to Jackie B and the latter is still trying to process the information.

However, ever since the show began Jackie B must be in an internet of ‘ships’ and love triangles with a few of the male housemates.

It began with Boma, who chose her as his Deputy Head of House in the second week to Michael who appeared to comb the mother-of-one off her ft as she turned clingy to him from the primary evening he entered the home.

Please like, comment, share and follow me for more updates news and entertainment.