CBN to officially devalue naira,
report – There are reports that CBN will make an
announcement later Tuesday, May 24 on if
to devalue the naira
– Current official rate is N198 while parallel
market rate is N337
If reports by The Will are anything to go buy,
then President Muhammadu Buhari may
have given his nod for the further
devaluation of the naira.

The report says the Central Bank of Nigeria
(CBN) will be announcing a devaluation that
would put the naira at N250 to a dollar later
today.
It said the CBN was holding a monetary
policy committee (MPC) meeting in Abuja at
the time of this report.
READ ALSO: Naira trades at N340/$1 in
black market
At the end of the meeting, the decision
would be announced.
Currently, the official rate is N198 to $1
while at the parallel market it hovers around
N337 and N346 to a dollar.
NAIJ.com had earlier today reported that
despite the myriad of economic headaches
Nigeria has continued to suffer, the nation’s
currency, naira has strengthened against the
American dollar in the black market.
Our Bureau De Change source in Katsina had
told us the naira has gained strength and
trades at N337/$1 today, May 24, as against
the N340/$1 rate on Monday, May 23.
The Nigerian currency had started last week
on a disappointing note trading at N367/$1.
It however made a remarkable comeback in
the early hours of Tuesday, May 17, trading
at N348/$1 across major parts in the country
before strengthening further and staying
consistent to close the week at N340/$1.

Ja'afaru emerges as new
number one man for NPS

President Muhammadu Buhari
According to the News Agency of Nigeria
(NAN) on Tuesday, May 24, 2016, Mr Bassey
Akpanyung, the permanent secretary,
Ministry of Interior, signed a statement to
this effect, regarding the appointment of Mr
Ja’afaru as the new boss of the NPS.
READ ALSO: Buhari appoints Babandede as
acting immigration boss
Prior to the appointment of the new number
one man of the prisons service, he was the
assistant controller general of prisons and
was serving at the NPS headquarters at
Abuja, the nation’s capital.
NAN further gathered that the new boss of
the NPS will take over from the former boss,
Dr Peter Ekpendu, whose years in service
came to an end on Tuesday, May 17.
In addition, the appointment of Ja’afar was
effective as from the same Tuesday, May 17
when Dr Ekpendu called it quit from the
NPS.
Earlier today, Tuesday, May 24, information
had it that President Muhammadu Buhari
approved the appointment of Mr Uka Tor Uja,
to oversee the affairs of the Nigerian
Christian Pilgrims Commission (NCPC) as
the new executive secretary.
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Federal High Court sacks
Makarfi, reinstates Sheriff
2 hours ago


The national caretaker committee
constituted by the PDP during the last
Saturday’s convention has been nullified
– The convention had appointed Ahmed
Makarfi as the acting chairman, while Ben
Obi was appointed the acting national
secretary
– In a ruling on Tuesday, May 24, Justice
Ibrahim Buba ordered Ali Modu Sheriff, the
erstwhile chairman of the PDP, to continue
serving as the party’s chairman

Justice Ibrahim Buba ordered Ali Modu
Sheriff, to continue serving as the PDP’s
chairman.
A Federal High Court in Lagos has nullified
the national caretaker committee constituted
by the Peoples Democratic Party (PDP)
during the convention held on Saturday, May
21.
The convention had appointed a former
governor of Kaduna state, Ahmed Makarfi,
as the acting chairman, while a former
senator, Ben Obi, was appointed the acting
national secretary.
The PDP said that the acting national
officers would be in office for three months.
READ ALSO: PDP: Why we sacked Ali Modu
Sheriff – Fayose
Premium Times reports that in a ruling on
Tuesday, May 24, Justice Ibrahim Buba
ordered Ali Modu Sheriff, the erstwhile
chairman of the party, to continue serving as
the PDP’s chairman.
Meanwhile, a Federal High Court sitting in
Port Harcourt, the Rivers state capital, has
restrained Sheriff and Professor Adewale
Oladipo from parading themselves as
national officers of the PDP.
The court also granted a restraining order on
any member of the national working
committee of the PDP who was removed
from office by the party’s national
convention in Port Harcourt from receiving
nominations and submitting names to the
Independent National Electoral Commission
as officers or candidates of the PDP in
whatever capacity pending the hearing and
determination of the motion on notice
brought by the party.