WHAT!? Naira Falls To Its Lowest Level In 42 Years

In December 1980, exactly 35 years ago, the naira was one dollar and eight cent, but today, a dollar is N260, the weakest it has ever been since its introduction 42 years ago.

The naira fell to its lowest on Friday, trading at 260 to the greenback on the parallel market. It continues to plunge as the CBN holds on to its stringent dollar sales policy at the parallel market. 

Earlier in 2015, CBN introduced the policy of selling over $80m to Bureau De Change (BDC) operators, to keep the unofficial rate close to that of the parallel market. The policy is however undergoing review, as the CBN circular reported by Reuters has set out new guidelines for the 2016 BDC transaction of dollars. 

According to The Cable, the circular, which will come into effect in January, “orders retail money exchanges to deposit a mandatory cautionary deposit of N35 million in an account with the central bank, in addition to a minimum capital requirement of N35 million”. 

The decision, experts believe, would trim the number of BDC operators in the country. The Naira was first introduced in introduced in 1973.

President Olusegun Obasanjo is the president who introduced the highest number of notes in Nigeria’s democracy, introducing N100 in 1999, N200 in 2000, N500 in 2001 and N1000 on October 12, 2005.

Meet the woman who allegedly broke Diddy and Cassie up

Cassie announced yesterday that she was single again and many thought it was because of Diddy's renewed relationship with his babymama, Kim Porter, but according to blogger B. Scott, it's a lady named Gina (left). What they wrote below...

Cassie broke up with Diddy the Sunday after his Revolt Music Conference in Miami because while he was there — he had another woman with him! Not only that, but the same woman was with him the weekend prior in Atlanta for the BET Hip Hop Awards.

Her name is Gina Huynh and she’s been around for awhile. Last year, Diddy took Gina and her friends to the All-Star game in New Orleans. Word reportedly got back to one of Cassie’s homegirls and sh*t hit the fan, but they were able to move past it.
Anyway, after Cassie found out that the two rekindled back in October she shut things down with Diddy and skipped away to South Africa to film ‘Honey 3.’ Since she’s been out of the country, she’s refused to take his calls, answer his texts, and she even went as far as to block her management so that they wouldn’t contact her on his behalf!
If you were wondering where those thousands of roses came from that appeared on Cassie’s Snapchat — they were from Diddy trying to reach out.

However, Cassie’s tired of his sh*t and this Gina girl really is the last straw. There’s also been some chatter about Diddy getting to close to his VP Ericka Pittman.

Anyone can see that the two have been rocky. She was absent from ALL of Diddy’s birthday festivities and the one acknowledgement of his birthday she gave was a friendly Instagram shout-out that’s since been deleted.

Photos from Adanna Ohakim Steineker's baby shower

Adanna Ohakim and her husband David Steineker are expecting their first child together. Her husband & friends threw her a baby shower yesterday. Congrats to the couple. More pics after the cut

 

Appeal Court Sacks All 3 PDP Senators & 12 Rep Members In Rivers State

The riggers are being sent parking. It was a tsunami of sort for the PDP in Rivers State on Friday as Abuja division of the Court of Appeal in a judgment delivered late into the night sacked Two senators and Seven House of Reps members elected on the platform of the party in the 2015 general elections.

The Court had earlier kicked off the series of judgments, 14 in all, including some cross appeals on Friday afternoon with the sack of two senators – Osinakachukwu Idoezu (Rivers South-West Senatorial District) and John Olaka-Nwogo (Rivers South-East) based on petitions by APC candidates.

In the unanimous decision of the three man panel read by Justice Ali Gumel, the Appellate Court voided the elections of the two senators based on what the Justices described as:

Failure of INEC to comply substantially with the provisions of the Electoral Act and other guidelines for 2015 National Assembly Election in the conduct of the polls.

Justice Gumel noted that key elements of the voting process like accreditation of voters, use of card reader machines, voters’ register and other election guidelines in majority of the voting centres, were not adhered to, an action which he said led to manipulations of the process.

He therefore ruled that the elections were conducted without adherence to set guidelines and therefore cannot stand in the face of the law.

The Judge particularly censored INEC for what it described as its failure to ensure strict adherence to the guidelines it set out for the election such as use of card reader.

In a series of abridged rulings for lack of time to read the full judgments, the Justices also annulled the election of Boma Goodhead, the member representing Asari Toru/Akuku Toru Federal Constituency, Hon. Ken Chikere (PDP) Port Harcourt I Federal constituency election, Randolf Brown for Bonny/Degema Federal Constituency, Dum Deekor of Tai/Eleme/Oyigbo Federal Constituency, Betty Apiafi Ahoada East/Abua Federal Constituency, Awaji Inombek Abiante of Andoni/Opobo/Nkoro federal constituency and Dimnamene Deekor of Khana/Gokhana federal constituency.

The court had earlier sacked a Senator and some Reps members on Thursday.

With the sack of his 12 colleagues, Uche Nnam Obi of Ahoada West//Egbeama/Ndoni Federal Constituency elected on the platform of PDP is the only surviving representatives of Rivers State in the House of Reps. 

The court ordered rerun elections into the now vacant senatorial and House of Reps seats with 60 days.

Donald Trump & Saudi billionaire Prince feuds on twitter, calls Trump 'a disgrace to the US'

Prince Alwaleed bin Talal of Saudi Arabia, one of the world's wealthiest business men is the latest to criticize Donald Trump for his call for a ban on Muslims entering the US. The prince took to twitter yesterday to describe the Republican front-runner for US presidential election as "a disgrace to America".

     "You are a disgrace not only to the GOP but to all America. Withdraw from the U.S presidential race as you will never win" he tweeted.

Donald Trump responded with an insult of course.

     "Dopey Prince @Alwaleed_Talal wants to control our U.S. politicians with daddy's money. Cant do it when i get elected. #Trump2016"

Tompolo Dares Federal Government

The battle line will soon be drawn! Former Niger Delta militant and Gbaramatu traditional titleholder, Chief Government Ekpemupolo (aka Tompolo), has dismissed his invitation by the EFCC as a ploy to intimidate and witch-hunt him because of, according to him, his refusal to back the candidate of the All Progressive Congress in the stalemated Bayelsa State governorship election.

He vowed not to honour EFCC's invitation as he has already filed a suit in court against the agency.

EFCC had given him one week to report or be declared wanted. But in his reaction, Tompolo said:

“I know why they are after me. It is not the alleged multi-billion naira property transaction. After all, it went through due process and was approved by the Federal Executive Council (FEC).

“And as such if there are any questions to answer, it is the people at the FEC, Bureau of Public Procurement (BPP), Federal Ministry of Lands and Survey, Federal Ministry of Transport, NIMASA, etc who approved the transaction that should be answering such questions.

“The real reason this APC-led government is after me is that I bluntly refused to join APC and to support their Governorship candidate in Bayelsa State. We cannot all be in APC. Our people have always believed in the Nigerian project and had always hoped to join hands with this administration to move this project forward, but the conditions being attached are not acceptable. I insist on believing in the Nigerian project unconditionally!

“The impression being conveyed is that I was invited by the Economic and Financial Crimes Commission (EFCC) and I failed to honour the invitation or even respond by letter to the invitation”

Tompolo said his lawyers’ response, stating why he wouldn’t honour EFCC’s invitation was conveyed to the EFCC on December 3, adding, “I have proof of delivery from the courier company.”

He accused the EFCC of lying to Nigerians on allegation that he refused to honour the invitation, adding: “my Solicitor’s letter indicated I am already in court with the EFCC.

“EFCC had been served with the court processes since 20th of October 2015 but they refused to attend court on several occasions, or to file any court papers, only to appear for the first time on 30th November 2015 without filing any court papers. They even asked for the matter to be adjourned to 17th December 2015, the date they are now inviting me to appear before them.

“So the attempt to harass me by their reminder of 9th December 2015, which was leaked to the media on the 10th of December 2015 , the same day as it was delivered to my house in Warri is an unnecessary and face saving effort at brinksmanship.

“As a full blooded Ijaw man and citizen of Nigeria, I have done everything in my power to follow the laws of Nigeria. Since the amnesty declared in 2009 by late President Yar’ Adua I have strained myself to ensure that we all live in peace in this country. Those who think they can push us to war must rethink the necessity of such a war.

“They froze our business accounts since August 4th 2015, but we have not quarrelled with anybody. We sued them to court, they refused to come to court. Now they are threatening to declare me wanted.”

On the threat by EFCC to declare him wanted, Tompolo said he's not moved, adding, “The threat to declare me wanted is an unnecessary attempt to heat up the polity. I will go about my daily business, usual.”

Arms Deal: Big Thieves Begging Obasanjo To Talk To Buhari

In secret they are begging for forgiveness but when they speak in public they will claim witch-hunting.

Some prominent Nigerians involved in the $2.1bn security fund scandal have started running to the house of ex-President Olusegun Obsanjo to help intervene on their behalf. Those who are begging

are looking for soft-landing in other to escape going to jail. They steal Billions and want to walk from but if ordinary man steal N10k he will spend 10 years in prison awaiting trial. That's Nigeria for you.

According to Punch, one of Obasanjo's trusted aide confirmed that top politicians are contacting him.

“I can confirm that,” one of the former president’s trusted aides said when asked if the Obasanjo had been approached. Obasanjo, who played a major role in galvanizing support for Muhammadu Buhari prior to the 2015 election, is believed to have the ears of the current president. 

However, the source said Obasanjo was not likely to accede to the requests of the influential Nigerians.

Some staff of the office of the National Security Adviser, who made useful statements to investigators of the EFCC, had named several prominent Nigerians in politics, business, governance and the media as beneficiaries of several “suspicious payments”.

“Everyone that Ibarahim Wambai mentioned would be called upon to tell us what they know. And I do not think the former vice-president will be exempted. All the names are in the public and Nigerians would be expecting us to do justice to all. And that is what we intend to do. No sacred cows,” said EFCC source.

Photo: Hilary Clinton shops for her granddaughter

The first time grandmother and 2016 Presidential candidate shared the photo on twitter writing: "Sometimes a grandmother needs to make a pit stop to shop for her granddaughter"

Photos: Agbani Darego shows off her sexy bikini body

Queen! The former Miss World shared the photos from Sanya, China, where the Miss World pageant will be held. More photos after the cut...

Oh my! See inside the 100,000 seat stadium-like auditorium Bishop Oyedepo is planning to build

Bishop David Oyedepo of Living Faith Church unveiled The Faith Theatre, a stadium-like 100,000 capacity auditorium. The new project which was revealed yesterday, December 12, at the last night of the Shiloh 2015 program, will not only be a sanctuary of worship but will also have a large shopping mall, food court and other businesses. See photos of what it will look after its done..after the cut..

Watch the video below..