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Hardship: Naira Is Stabilising, FG’s Reforms Yielding Positive Results – Information Minister

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…Insists FG Will Go After Saboteurs

Minister of Information and National Orientation, Mohammed Idris, says the Nigerian Government is identifying and sanctioning individuals sabotaging the economy.


The minister noted that the removal of the petrol subsidy was one policy decision that all the three major candidates agreed on in their campaign messages.

He said it was mystifying to see people who had argued stridently for the removal of subsidy now pretending to be against it, noting that such insincerity does not bode well for the country.


Idris insisted that the President’s policies are yielding positive results.

He, however, said that the government was not under any illusion that the policies are silver bullets, or that nothing else is required.

Stressing that the government will not allow its efforts to be jeopardised, the minister said regulatory and enforcement agencies have been working round the clock in the past few days to identify, investigate and sanction those involved in illegal activities and sabotage within the forex market.


“As respected economists and experts have acknowledged, these foundational reforms will be difficult and painful for Nigerians in the short-term,” the Minister said in a statement he signed and made available to journalists in Abuja on Friday.

“The problems that we are solving are no doubt multifaceted, intertwined, and deep-rooted, requiring creative, strategic, decisive, and multi-pronged solutions. These bold moves being implemented are in full alignment with what is required.

“It is heartwarming to note that we are starting to see the results. Indeed, the naira is stabilizing, and the foreign exchange market is seeing a surge of inflows.


“Sadly, as with any effort to reform and sanitise a system entrenched in long-term malpractice, the CBN’s efforts have been met with ferocious resistance from speculators and other unscrupulous players within and outside our country, who profit from dysfunction and opacity.

“To tackle this, regulatory and enforcement agencies of government have been working round the clock in the past few days, joining forces to address these efforts at undermining the reforms.

“That strategic alliance has led to the intelligence-led identification, investigation and sanctioning of individuals and organizations involved in illegal activities and sabotage within the forex market.


“Relevant regulatory and security agencies have been directed to remain vigilant to ensure that malpractices capable of undermining our currency are averted and that those engaged in these acts are brought to book. The government will not allow its efforts to be jeopardised

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‘Good Riddance To Bad Rubbish’, Nigerians React As High Court Sentence Bobrisky To Six-Month Imprisonment

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Nigerians have taken to microblogging platform, X (formerly known as Twitter) to express their thought on the court judgment, which saw cross-dresser, Idris Okuneye, popularly known as Bobrisky, sentenced to six months imprisonment.


Recall that Bobrisky, on Friday, was sentenced to six months in jail with no option of a fine.

The judgement was passed by Justice Abimbola Awogboro of the Federal High Court in Lagos.

Recall that the Economic and Financial Crimes Commission (EFCC), on Thursday, April 4, filed six-count of money laundering and abuse of naira against him.

On Friday, April 5, the EFCC arraigned Bobrisky in court on six charges, including Abuse of the Naira and Money laundering.

The court, however, dismissed the money laundering charges but convicted him of Naira Abuse after he confessed to the crime.

Some Nigerians, reacting to the court judgement, saw the ruling as an injustice against the cross-dresser.

Others wondered which section Bobrisky will be in jail because of the controversy around the gender he aligns with.

See some reactions below:

@brodamike07 wrote, “If this is true, the judgment is harsh and should be condemned by all.”

@Grachidex wrote, “So is it gonna be the male or female prison?”

@iamkelechiO wrote, “I honestly don’t feel sorry for him. He’s a bad influence in the society.

“Good riddance to bad rubbish.”

@_konfam wrote, “This is not right at all, they’re sentencing him over what everyone is guilty of?”

@IamKonrade wrote, “I hope this sets precedence and that anyone who violates the naira, politicians inclusive, is sentenced.”

@JoyMart14 wrote, “May we not offend people wey no deh accept apology ”

@Iamlexprince wrote, “Ok, now this is pure wickedness and jealousy. Bobrisky is the least of our problem in this country. If they channel that same energy to the right people, we for no dey complain for this country.”

@divfee wrote, “This country funny, is she the first to spray money like this in naija??

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Junior Pope: Police Recover Three More Bodies From Boat Mishap

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Police authorities in Anambra State have recovered three more bodies from a boat accident involving a movie cast.

Nollywood star Junior Pope Odonwodo was part of the crew that drowned in the boat mishap two days back.

While some crew members were yet to be found following the boat tragedy, the spokesperson of the Anambra State Police Command Tochukwu Ikenga said three more bodies of members of the movie cast have been recovered.

“Marine Police of Anambra State Command has recovered bodies of the three remaining victims of the unfortunate boat accident involving a movie cast,” he said in a Friday statement.

“Two of the bodies were recovered yesterday 11th April, 2024 while the last was washed in by the tide this morning.”

The bodies have been deposited at a morgue in Asaba, Delta State while authorities of the guild of actors have also been informed about the recovery.

The spokesman quoted the state’s police commissioner Aderemi Adeoye as advising water commuters to be safety conscious while in transit.

According to the commissioner, the police are fast-tracking the investigation into the accident.

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Lagos Court Grants Emefiele N50m Bail

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The Lagos High Court sitting in Ikeja has granted bail to a former Central Bank (CBN) governor Godwin Emefiele.

Justice Rahman Oshodi granted him bail in the sum of N50m with two sureties in like sum.

The court also held that the sureties must be gainfully employed and have three years of tax payment with the Lagos State Government.

Justice Oshodi said that the sureties must show proper identification and they must be registered in the Lagos State Bail Management System.
Lagos Court Grants Emefiele N50m Bail
The judge also said that he was satisfied with the bail conditions of N1 million, earlier given to Emefiele’s co-defendant Henry Isioma-Omoil who is standing trial on another charge before Justice Olufunke Sule-Hamzat of the Lagos High Court sitting in Yaba.

According to the court, the bail documents must be transferred to the special offences court and it must also be registered in the Lagos State Bail Management System.

Last week Monday, the Economic & Financial Crimes Commission (EFCC) charged Emefiele before the court on a 26-count bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively

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