Boko Haram kills 14 soldiers in Niger

Niger’s army said Friday that 14 of its soldiers and scores of Boko Haram fighters had been killed during a multi-month sweep operation in the nation’s southeast.

Defence ministry spokesman Colonel Moustapha Ledru told state television that “123 terrorists” had been killed and “a large quantity of arms recovered from the insurgents.”

It was not possible to independently verify this number.

Ledru said 14 soldiers were killed and 29 wounded in the joint operations with Chad’s military took place between July and September 28.

They targeted the Diffa region, which lies just across the border from the Islamists’ stronghold in northeastern Nigeria.

Ledru said the “terrorists” who had been killed had “infiltrated” into Diffa from Nigeria, adding that two fighters had been captured.

Boko Haram’s seven-year insurgency has left at least 20,000 people dead in Nigeria and border areas of neighbouring Niger, Chad and Cameroon, and made more than 2.6 million homeless.

Attacks in Niger’s Diffa region began in February 2015.

In late July this year a multinational force, drawn from Nigeria, Niger, Chad and Cameroon, was formed to tackle the Islamic insurgents and clear them out of towns and villages.

Ledru said operations had led to four strategic localities being taken back from Boko Haram control.

Boko Haram kills 14 soldiers in Niger

Niger’s army said Friday that 14 of its soldiers and scores of Boko Haram fighters had been killed during a multi-month sweep operation in the nation’s southeast.

Defence ministry spokesman Colonel Moustapha Ledru told state television that “123 terrorists” had been killed and “a large quantity of arms recovered from the insurgents.”

It was not possible to independently verify this number.

Ledru said 14 soldiers were killed and 29 wounded in the joint operations with Chad’s military took place between July and September 28.

They targeted the Diffa region, which lies just across the border from the Islamists’ stronghold in northeastern Nigeria.

Ledru said the “terrorists” who had been killed had “infiltrated” into Diffa from Nigeria, adding that two fighters had been captured.

Boko Haram’s seven-year insurgency has left at least 20,000 people dead in Nigeria and border areas of neighbouring Niger, Chad and Cameroon, and made more than 2.6 million homeless.

Attacks in Niger’s Diffa region began in February 2015.

In late July this year a multinational force, drawn from Nigeria, Niger, Chad and Cameroon, was formed to tackle the Islamic insurgents and clear them out of towns and villages.

Ledru said operations had led to four strategic localities being taken back from Boko Haram control.

Sony concludes $750m buyout of Michael Jackson’s stake

Sony said Friday that it had closed its $750 million purchase of Michael Jackson’s stake in a music venture behind a vast trove of hit songs.

The Japanese company announced in March that it was buying the Jackson estate’s 50 percent stake in Sony ATV Music Publishing, which owns the rights to several million titles.

Sony in a statement said it closed on the purchase after meeting conditions including regulatory approval.

The European Commission announced on August 2 that it was approving the deal, seeing no threat to competition in the music market.

Jackson became active in music publishing as he rose to superstardom in the 1980s after a chat with Paul McCartney who explained the significance of such companies, which collect and distribute royalties to songwriters.

Sony ATV Music Publishing, set up in 1995 as a joint venture between Jackson and Sony, owns rights not just to the late King of Pop’s hits, but songs by other music legends including The Beatles, Marvin Gaye and Bob Dylan.

It also features songs by younger stars such as Kanye West, Pharrell Williams and Lady Gaga.

Sony said that closing the deal would not affect the company’s full-year earnings.

CBN Gov’s wife kidnap: IG deploys helicopters along Benin-Agbor Road

In a bid to track the abductors of Mrs. Margaret Emefiele, the wife of the Central Bank Governor, Godwin Emefiele, the Inspector-General of Police, Ibrahim Idris, has deployed helicopters along the Benin-Agbor Road, where the incident had taken place.

Idris, it was gathered, had also flooded the area with hundreds of police operatives and sniffer dogs in a move to put pressure on the kidnappers.

A senior police officer said, “We received information on Thursday that the CBN governor’s wife was abducted alongside three women and a male driver. They were on their way to Agbor, Delta State, where she hails from.

“We have deployed policemen, helicopters and sniffer dogs and we will arrest the suspects very soon.”

Gunmen had on Thursday abducted Margaret along with four others and demanded N100m as ransom.

The kidnappers were said to have made the demand after taking their victims to an unknown location.

A senior police officer told our correspondent that Margaret was abducted alongside three women and a male driver.

He said they were abducted along the Benin-Agbor Road on Thursday.

Police sources said the abductors did not know her identity, adding that they simply stumbled on her and whisked her away.

Our correspondent learnt that the IG Special Intelligence Monitoring Team, headed by Abba Kyari, has commenced investigation into the incident.

Kyari was the officer who arrested the suspects responsible for the abduction of Prof. Kamene Okonjo, the mother of ex-Finance Minister, Ngozi Okonjo-Iweala, in 2012.

Another source said, “The kidnappers did not know the identity of the woman; preliminary investigation indicated that the gang just got her by chance. They have contacted her husband and they are demanding for N100m cash.”

Findings indicate that there were fears that the gang may increase their demand if they got to know the identity of their hostage.

“We actually wanted to keep the incident under wraps until the woman has been rescued, because the exposure of the victim’s identity may complicate the case; this is our fear,” a source said.

The police spokesman, Donald Awunah, could not be reached for comments as calls to his mobile telephone failed to connect. He had yet to respond to an SMS as of the time of filing this report.

There is hunger in the land, says Ekweremadu

The Deputy President of the Senate, Senator Ike Ekweremadu, has called for sober reflection as Nigeria marks its independence anniversary, saying there is the need to return to the path of true federalism as envisioned by the founding fathers in order for the country to move forward.

Ekweremadu, while stressing the need for justice, peace and unity, urged the Federal Government to mobilise “all capable hands” to salvage the nation’s ailing economy as there was hunger in the land.

Ekweremadu stated these in his 56th Independence Anniversary message to Nigerians, according to a statement by the Special Adviser to the Deputy President of the Senate on Media, Uche Anichukwu, on Friday.

He said, “This 56th Independence Anniversary calls for sober reflection.  No people can make progress unless they retrace their steps back to where the rain started beating them. Nigeria, at formation, had a building plan, which was based on true federalism as covenanted by our founding fathers at various conferences leading up to independence.

“For as long as we followed that plan, we prospered. But, once we discarded the building plan, dissembled the inherited structures and legacies and began to undermine the fabrics of equity, justice, balance, healthy competition and economic prosperity that was ingrained therein, we charted our route to the current perdition.”

Ekweremadu, however, assured Nigerians that the country would bounce back faster if immediate steps were taken to unite the nation, getting the best hands on the deck, irrespective of wherever they are found.

Swansea will provide tough test - Klopp

Liverpool manager Jurgen Klopp believes Saturday's opponents Swansea City are a far better team than current form suggests and there will be no complacency as the Merseysiders look to maintain their bright start to the season.

Liverpool are fuelled with confidence and fourth in the table, having beaten Arsenal, Chelsea and champions Leicester City in their opening six games of the campaign.

While it has been a far more testing start for Swansea, who are fourth from bottom with a solitary victory, Klopp believes they could prove a stubborn obstacle at the Liberty Stadium.

"They played much better than four points look like," Klopp told reporters on Thursday.

"They are a good football-playing side with a clear plan and different options in their style of play, good defending.

"We cannot lean back and think that's how it is until now so it will stay like this, especially on Saturday. We will be prepared for this game, nobody should be in doubt that we know about the quality of Swansea."

Liverpool have won three successive league games, scoring 11 goals in the process and have emerged from a tough run of opening fixtures with 13 points.

Klopp, however, is keen for them to stay focussed and not take their foot of the gas as he looks to turn a good start into a genuine title challenge.

"It's much too early to be satisfied with anything this season. In this part of the season you create a base for the rest of the season," Klopp said.

"We have a job to do. Christmas will come, the second part of the season will come, the weather will change. We need to stay fit and have luck with injuries.

"Of course it's important to have a good start but it's also important to build on it."

Striker Divock Origi is a doubt for the clash against Swansea after he picked up a minor knee injury.

"He got a little knock on his foot where we had to do a little assessment. It's nothing major but it might be too short a period before the game," Klopp said.

Reds seek Swans win without Sakho

An in-form Liverpool head to Swansea City this weekend without Mamadou Sakho as he looks to repair his rocky relationship with Reds manager Jurgen Klopp.

The France international claimed in a late-night Snapchat post before Liverpool's 5-1 win over Hull City last weekend game that the club were telling "lies" about his fitness.

Klopp has since spoken to his squad as a whole, and to the defender privately, to remind them of their responsibilities.

Asked if Sakho had to work hard and keep quiet in order to regain a Liverpool first-team place, Klopp said: "That's not a route for Mamadou Sakho, it’s a route for every player. Work hard and do your best. That's how it is for every player.

"I spoke to the team and I spoke to Mama, and we spoke together and that's it. From my side, everything is done and we carry on."

Sakho spent five months out after he was suspended in April as Uefa investigated a doping allegation against him, which was later dismissed.

But he played for the club's Under-23 side in a match against Wolfsburg on Wednesday, and will figure for them again on Sunday, when they face Ipswich.

Liverpool have hit fine form after a couple of early-season stumbles, scoring 14 goals in a run of four successive wins in all competitions.

Last Saturday’s ruthless demolition of Hull at Anfield suggested Klopp's side have shed the inhibitions that sometimes affected them in home games last season; away wins over Arsenal and Chelsea signify that they have no reason to fear anyone on their travels either.

A trip to Swansea on Saturday is not necessarily as straightforward as it might appear, especially as Liverpool lost 3-1 at the Liberty Stadium on their last visit to south Wales at the start of May.

However, that match was played three days after a gruelling trip to Spain to face Villarreal in the Europa League, a competition that took priority as the campaign drew to a close.

With no European football at all to consider this season, Klopp has enjoyed a few more gaps in the fixture schedule to keep his players fresh.

As a result, Liverpool's only new fitness concern surrounds striker Divock Origi, who has a foot injury.

- Guidolin pressure -

Swansea coach Francesco Guidolin has far greater worries.

The Swans are fourth from bottom of the Premier League after collecting just one point from their last five matches, and Guidolin has acknowledged that defeat by Liverpool may cost him his job.

Asked if he had to win on Saturday to avoid the sack, the Italian said: "Maybe, it could happen."

Former United States national team manager Bob Bradley is the latest candidate to be linked with the Swansea job, following suggestions last week that Ryan Giggs, who left his post as Manchester United assistant manager at the end of last season, could take over.

The one sign of hope for Guidolin is that his team showed improvement even as they lost twice in four days to Manchester City, with a 3-1 defeat in the Premier League coming soon after a 2-1 loss in the EFL Cup.

Guidolin added: "I spoke with the chairman last week, but at the moment the most important thing is for me to work with my players and with my team to prepare for the next game, to be focused and with concentration."

Walcott fires as Arsenal down Basel

Arsenal showed why the Football Association can only dream of hiring Arsene Wenger to take charge of England as Theo Walcott's double inspired a swaggering 2-0 victory over Basel in the Champions League on Wednesday.

The FA's decision to part ways with disgraced England manager Sam Allardyce on Tuesday triggered reports that Gunners boss Wenger is the governing body's top choice to become the national team's next permanent coach.

But Wenger admitted several years ago he had ignored the FA's overtures once before and, on the evidence of Arsenal's burgeoning revival this season, the poisoned chalice of managing England is extremely unlikely to be a tempting prospect.

Coming five days after a 3-0 defeat of Chelsea that Wenger described as almost perfect, another sublime display showed why the Arsenal fans who called for the Frenchman to quit during a turbulent last 18 months should be grateful he decided to stick around for a 20th year with the Gunners.

Walcott netted twice in the first half at the Emirates Stadium to leave Arsenal, now unbeaten in their last eight matches in all competitions, with four points from their first two Group A matches.

Yet those simple facts don't do justice to the total mastery Arsenal displayed in a spell-binding first half.

"I'd like to congratulate the team on their performance. The first half was top, top quality, like we produced against Chelsea," Wenger said.

"We had pace, technical quality and movement. My only regret is we didn't take all our chances."

Wenger's team could have scored in the opening moments when Nacho Monreal's stinging strike forced Basel goalkeeper Tomas Vaclik into action.

It took only seven minutes for Arsenal to go ahead as they ripped through the Basel defence in a swaggering move that showed the confidence flowing through Wenger's men at present.

Santi Cazorla lofted a deft high pass towards Alexis Sanchez, who timed his run perfectly to escape Basel's offside trap and advanced into the penalty area before looking up to see Walcott arrowing towards goal.

Sanchez's cross arrived with laser-guided precision and England winger Walcott, showing the renewed desire which has saved a career in danger of imploding, powered between two Basel defenders to bury his header past Vaclik from close-range.

PUT TO THE SWORD

When Arsenal are at their best, there are few teams in Europe who are such elegant assassins and it was a typically rapier thrust that inflicted the fatal wound on Basel.

Once again it was Sanchez and Walcott who put Basel to the sword, exchanging passes at dizzying speed.

Walcott picked out Sanchez, then raced onto his return ball and, from 12 yards out, drilled low into the far corner for his fifth goal of the season.

Arsenal were so dominant that every attack carried fresh menace for the Swiss side, who found themselves chasing their tails again when Hector Bellerin, Walcott and then Cazorla, with a sumptuous reverse pass, teed up Sanchez for a shot that lacked the power to beat Vaclik.

Arsenal midfielder Granit Xhaka must have felt a pang of sympathy for his brother Taulant Xhaka, who was a bewildered bystander in Basel's defence as the Gunners swept forward time and again.

The scoreline wouldn't have flattered Wenger's rampant side if they had been five goals ahead by half-time.

Bellerin saw his shot blocked by the over-worked Vaclik, who also denied Sanchez, while Mesut Ozil fired into the side-netting in an endless tidal wave of Arsenal pressure.

Alex Iwobi was narrowly off-target from the edge of the area early in the second half and, not long after, Sanchez should have done better than poke Walcott's inviting cross wide from a good position.

David Ospina, again preferred to Petr Cech as Arsenal's European goalkeeper, was finally called into action to tip over Birkir Bjarnason's long-range effort.

But as Arsenal cruised to victory, Wenger was able to relax on the bench, with thoughts of filling Allardyce's shoes surely far from his mind.

Guardiola praises City fight back

Manager Pep Guardiola tempered his delight at Manchester City's ability to fight back three times in a thrilling 3-3 draw against Celtic in the Champions League on Wednesday by urging his players to understand the importance of a good start.

Moussa Dembele scored early in both halves for the hosts in Glasgow either side of a Raheem Sterling own goal as City responded each time with strikes from Fernandinho, Sterling and Nolito.

The Premier League leaders are second in the group on four points, two behind Barcelona, who rallied to win 2-1 at Borussia Moenchengladbach in the other Group C fixture.

"Maybe this is a good lesson for our future on the importance of starting well," Guardiola told reporters.

"It was difficult for us to start in the first half and second half with a goal against us, that's why I'm so happy for the reaction of the players – it's not easy to score three goals away.

"This group, this club, we are going to fight until the last game to qualify."

City defender Pablo Zabaleta praised the team's character in finding a way back to fight back at Celtic Park on three different occasions.

"To come back three times when we were behind shows the character of the team. We were a bit unlucky not to score at the end. We created a few clear chances and had control of the game in the second half, Zabaleta said.

"It's true that we conceded in three key moments of the game, especially the third goal at the start of the second half but to come back was important."

City, who top the Premier League standings after winning their opening six games, travel to Tottenham Hotspur in a contest between two unbeaten sides on Sunday.

Aso Rock wears new look for Nigeria’s independence

The Presidential Villa, Abuja is currently wearing a new look ahead of Nigeria’s 56th Independence anniversary holding on Saturday, October 1.

Programmes earmarked for the anniversary which the government described as low-key started with an interdenominational service at the National Ecumenical Centre, Abuja on Sunday.

A jumat service and anniversary lecture are slated for the National Mosque, Abuja on Friday (today).

The final programme is Presidential Change of Guard scheduled to hold at the forecourt of the Presidential Villa on Saturday.

Ahead of that programme that will attract members of the diplomatic corps, top government officials and other friends of the nation, workers were on Thursday busy giving the Presidential Villa a facelift.

All the white walls in the seat of power were repainted while the white-and-black road setbacks were also retouched.

Flowers and trees were also trimmed.

Workers of the construction giant, Julius Berger, saddled with the maintenance of the seat of power, carried out most of the exercise.

Government officials were also seen changing the numerous national and commander-in-chief’s flags at strategic places within the premises.

Canopies were also being erected in the forecourt where the event would hold while chairs were also being moved to the venue.

During the programme scheduled to start by 3pm on Saturday, there will be a ceremonial change of guards by soldiers attached to the Brigade of Guards who are in charge of the security of the President and the Federal Capital Territory.

Buhari will inspect the guard of honour at the ceremony, cut the anniversary cake, sign the anniversary register and release pigeons to symbolise peace.

He will be assisted by Vice-President Yemi Osinbajo; President of the Senate, Bukola Saraki; Speaker of the House of Representatives, Yakubu Dogara; and the Chief Justice of Nigeria, Justice Mahmud Muhammed.

Celtic fined over supporters' flags

Celtic have been fined €10 000 by Europe's governing body Uefa over Palestinian flags displayed by fans during their Champions League match against Hapoel Beer Sheva last month.

Home fans flew the flags before and during the match against Israeli opposition at Celtic Park, drawing a charge from Uefa, who viewed the flags as "illicit banners".

The charge was the ninth levelled at the club by Uefa in recent years for supporter misconduct.

Uefa's disciplinary body has fined them in each case.

Ogun pastor denies being hypnotised in shrine

The pastor who was allegedly transfixed in a shrine in Ketu community, Ayetoro, in the Yewa North Local Government Area of Ogun State, Wale Fagbire, has denied being struck by idols while destroying the shrine.

At a press conference on Thursday convened by the Christian Association of Nigeria, Ogun State, Fagbire told journalists that he followed a divine instruction he got in a revelation.

Fagbire, who presides over Christ Apostolic Church, (Ona-Iye) in Ayetoro, said he was instructed not to utter a word after destroying the shrines, adding that he was motionless after the ‘divine assignment.’

The embattled pastor had on Tuesday, September 20, 2016, told his congregation that he was directed by God to destroy all the shrines in Ketu community.

But, in his attempts to destroy the shrines, he allegedly got stuck in the first set of shrines he entered, prompting people in the area to raise the alarm.

Fagbire said he deliberately waited in the shrines for the idol worshippers to see him.

He said, “God told me that I should go to the shrines to bring out those things for the liberation of Ayetoro. God told me to do three things in the shrines.

“That when I get there, I should evacuate, step aside and watch the film. He said I should not say anything when people come out to see me. So, I did as instructed by God on that day.

“I got there around 5am and after I took out those things, God told me to wait and stay and I did.

“God also told me to keep quiet. It was not their gods that held me; it was the idol worshippers that struck me with their charms.

“When I was taken to the palace, I told them that all my actions were directed by God and not human beings or the church of God. Although, they tried many charms on me, none was effective. I am healthy. I followed the instruction of God that I should be quiet and they also know the truth.”

He said when he was taken to the palace of the Alaye of Ayetoro, Oba Abdulaziz, he narrated what happened.

Reacting to the report, the state Chairman of CAN, Bishop Tunde Akin-Akinsanya, said media report of the incident was exaggerated, adding that the briefing was to clear the misconceptions.

The Regional Coordinator of Yewa/Awori, Pentecostal Fellowship of Nigeria, Apostle Lola Dada, alleged that the idol worshippers asked the pastor’s family to contribute N300,000 while the CAN was asked to pay N200,000, to appease the gods.

Dada, who spoke for the state CAN chairman, said, “He (Pastor Fagbire) was handed over to the police and the police charged the case to court.

“The idol worshipers withdrew the case from the court; they said they cannot take the son of their late Oba to court and the case was withdrawn the same day.”

He alleged that the idol worshippers went to Jesus Triumphant Army Church at Ayetoro which was headed by Pastor Wale Olojede, because the church was close to the shrines Fagbire destroyed.

He said, “They said it was the church that encouraged him to do what he did.

“So, the idol worshippers transferred the aggression to the church. They barricaded the church with sacrifice and palm fronds, but the Christian youths removed them.

“They asked the family of the pastor to pay N300,000 while CAN should bring N200,000 for the sacrifice to appease their gods, but, no money was given to them and peace has returned to the town.”

The police spokesperson, Abimbola Oyeyemi, confirmed that the traditionalists had withdrawn the case.

AOL Founder Steve Case Is The Latest Billionaire To Endorse Hillary Clinton

Billionaire AOL AOL +% founder Steve Case endorsed Hillary Clinton in an op-ed in The Washington Post on Wednesday. In the piece, Case says he’s making an exception to his usual preference to stay out of partisan politics. “I have concluded that I cannot sit on the sidelines this year,” he wrote. “At this pivotal time, the choice is too important.”

Case, whose fortune is estimated by FORBES at $1.3 billion, founded AOL in 1985 and is now focused on investing in tech outside of Silicon Valley as chairman and CEO of investment company Revolution.

Case gave four reasons for his decision to endorse Clinton: the economy, immigration, technology and deficit control. “I think she’d be better for our economy, especially with respect to innovative technology and start-ups,” Case wrote. “Donald Trump knows business, but his campaign has been backward-looking on the economy.”

Case highlighted the important role immigrants play in the economy, including Google GOOGL -0.31% founder  and fellow billionaire Sergey Brin, who immigrated from Russia. “Think how many fewer jobs we’d have in the United States if these entrepreneurs and their parents had been kept out by a wall,” he wrote. He also praised Clinton’s focus on expanding tech education and creating startup growth around the country.

Finally, Case highlighted his view on the importance of controlling the deficit. “Despite his populist rhetoric, Trump wants to give huge tax breaks to people like me, the very folks who have benefited greatly from the innovation economy, while many others have been left behind,” 

AOL Founder Steve Case Is The Latest Billionaire To Endorse Hillary Clinton

Billionaire AOL AOL +% founder Steve Case endorsed Hillary Clinton in an op-ed in The Washington Post on Wednesday. In the piece, Case says he’s making an exception to his usual preference to stay out of partisan politics. “I have concluded that I cannot sit on the sidelines this year,” he wrote. “At this pivotal time, the choice is too important.”

Case, whose fortune is estimated by FORBES at $1.3 billion, founded AOL in 1985 and is now focused on investing in tech outside of Silicon Valley as chairman and CEO of investment company Revolution.

Case gave four reasons for his decision to endorse Clinton: the economy, immigration, technology and deficit control. “I think she’d be better for our economy, especially with respect to innovative technology and start-ups,” Case wrote. “Donald Trump knows business, but his campaign has been backward-looking on the economy.”

Case highlighted the important role immigrants play in the economy, including Google GOOGL -0.31% founder  and fellow billionaire Sergey Brin, who immigrated from Russia. “Think how many fewer jobs we’d have in the United States if these entrepreneurs and their parents had been kept out by a wall,” he wrote. He also praised Clinton’s focus on expanding tech education and creating startup growth around the country.

Finally, Case highlighted his view on the importance of controlling the deficit. “Despite his populist rhetoric, Trump wants to give huge tax breaks to people like me, the very folks who have benefited greatly from the innovation economy, while many others have been left behind,” 

Naira in free fall, plunges to 480/dollar

The naira plunged further against the United States dollar to a new record low of 480 on Thursday, down from 472 it recorded on Wednesday.

The currency had continued its two-week free fall on Monday, closing at 445 to the dollar after tumbling to 439 on Friday.

On Tuesday, the currency closed at 452 to the greenback. Also on Tuesday, the external reserves hit an 11-year low of $24.61bn.

“Dollar is very scarce in the market right now because many people don’t know how low it will fall in the near term, so people are holding on to their hard currencies in order to watch the direction of the market,” one dealer said.

The President, Association of Bureau De Change Operators, Aminu Gwadabe, told Reuters that forex traders from neighbouring countries and some importers had also been moving in recently, mopping up dollars and putting pressure on the naira in a possible speculative bid.

Chronic dollar shortage plunged the local currency to a wave of depreciation, which economic and financial analysts have linked to speculative attack on the naira and increased demand from companies and individuals.

After trading between 423 and 425 for several weeks, the naira plunged to 428 last Wednesday. This came a day after the Central Bank of Nigeria’s Monetary Policy Committee retained the lending rate at 14 per cent contrary to calls by the fiscal authority, economists and stakeholders.

Analysts have dismissed that recent declines had links to the MPC decision to retain the lending rate at the current rate.

However, at the interbank market on Thursday, the naira closed at 305.31 to the dollar, up from 312.99 on Wednesday.

Gwadabe said that the planned commencement of distribution of forex by Travelex could not hold due to some bottlenecks.

Travelex, an international money transfer organisation, ought to have begun the distribution forex to the BDC operators on Monday.

Its intervention was postponed to Wednesday, but again, it could not hold.

The ABCON leader had said the sale of forex to the BDC operators by Travelex would help to stem the tide of volatility in the exchange rate and subsequently close the huge gap between the official and parallel market rates.

He could not tell when Travelex would commence the sale of forex to the BDCs.

According to him, Travelex has the technology to sell forex to about 1,000 BDCs in a couple of hours, which is a major advantage.

He said the latest decline in the naira value was as a result of the activities of speculators.

A currency analyst at Ecobank Nigeria, Mr. Kunle Ezun, said, “The rising exchange rates we are seeing at the parallel market now are not realistic. They have to do with the activities of speculators.

“However, we cannot rule out the fact that there is an acute and chronic shortage of FX; there is a genuine demand that the supply cannot match simply because inflows have dropped significantly.”

Gwadabe said, “Several sharp practices have been going on in the forex market and these elements want to continue making profits from the status quo. This is why they are speculating against the naira.

“They are attacking the naira. This is why the fall in the value of the naira is partly caused by the activities of speculators.”

Why Imo didn’t give Onye N1m, car – Commissioner

The Imo State sports commissioner Rodney Ajaelu has explained why Rio 2016 Paralympic Games gold medallist Lauritta Onye was not among athletes rewarded by the state last week.

Governor Rochas Okorocha gave N1m and car gifts to three powerlifters from the state namely Roland Ezeruike, Ndidi Nwosu and Josephine Orji, who all won gold medals in Rio.

Onye, a native of Amaimo in Ikeduru Local Government Area of Imo State, lamented her exclusion, despite winning gold and setting a new world record in the women’s shot put event of the Games.

“I’m from Imo State but I don’t know why this is happening. I told one of the Imo coaches to add me on the list because it’s my state but he refused, saying I’m not resident in Imo. They said the reward was only for those who work with Imo State,” Onye said.

However, Ajaelu cleared the air on the issue saying the three athletes were rewarded because they compete for the state, aside from being residents of the state.

“She’s (Onye) from Imo but she didn’t travel as an Imo athlete to Brazil. If she travelled as an athlete from another state, then that state should receive her. If a Yoruba girl was representing Imo and went to Brazil and won gold, we would receive her,” Ajaelu stated.

 “I don’t know her, after winning a gold medal, she should have presented her case. I’m the sports commissioner but she never told me, she never told the governor. She came back and sat in Lagos; she should have come here so that the governor could see her.”

Ajaelu added that Onye might still get a chance to be honoured by the state at an awards that would be organized by the state for its outstanding athletes later in the year.

“There’s no way we can start talking about her alone right now. She can come in for the awards night, which would take place after the 2016 National Sports Festival. From there, her case can be presented to the governor,” he added.