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I Am Not Calling For Naira Devaluation, Osinbajo Reveals
Vice President Yemi Osinbajo has said that he is not calling for the devaluation of the naira contrary to some reports that trailed his speech at the opening session of the mid-term ministerial performance review retreat at the presidential villa, Abuja on Monday.
Osinbajo in a statement issued by his spokesman, Laolu Akande, on Tuesday said he rather advocates a forex policy to curb corruption.
While noting that he has been opposed to the devaluation of the currency, the Vice President said those who have access to the dollars at N410 turn round to sell it were benefiting from the current exchange rate.
“Prof. Osinbajo is not calling for the devaluation of the Naira. He has at all times argued against a willy-nilly devaluation of the Naira,” the statement read.
“For context, the Vice President’s point was that currently, the Naira exchange rate benefits only those who are able to obtain the dollar at N410, some of who simply turn round and sell to the parallel market at N570.
“It is stopping this huge arbitrage of over N160 per dollar that the Vice President was talking about. Such a massive difference discourages doing proper business, when selling the dollar can bring in 40% profit!”
He also revealed the major issues confronting the Nigerian economy, stressing that how to improve the supply of foreign exchange is the major challenge facing the country’s economy.
Osinbajo explained that allowing the window of import and export would help improve the value of the naira.
“The real issue confronting the economy on this matter is how to improve the supply of foreign exchange, but this will not happen if we do not allow mechanisms like the Importers and Exporters window to work. If we allow this market mechanism to work as intended, we will find that the Naira will appreciate against the dollar as we restore confidence in the system,” he added.
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‘We Respect The Process’: Oyebamiji Endorses APC Review Of Osun Election Result
About two days after the Osun governorship election, the candidate of the All Progressives Congress (APC), Bola Oyebamiji, has broken his silence, throwing his weight behind his party’s decision to review the outcome of the just-concluded poll.
Oyebamiji lost to incumbent Governor Ademola Adeleke of the Accord Party in Saturday’s election, coming second with 444,815 votes, while the candidate of the African Democratic Congress (ADC) flagbearer, Najeem Salaam, finished a distant third with 17,180 votes.
Days after the declaration of the result, the APC candidate said that while he respects the decision, “I totally support the decision of our party in its ongoing review of the outcome of the election.
“Consequently, I appreciate the many people who believed in and supported the alternative vision we articulated,” he said.
The APC candidate asked his supporters to “remain calm and peaceful as you go about your daily activities in the post-election period.” He, however, raised concerns over what he described as the “trend of hostility” against APC members and his supporters.
“The violent attacks on our members witnessed in the build-up to the election have taken another dimension in the last 24 hours,” the former Managing Director and Chief Executive Officer of the National Inland Waterways Authority (NIWA) wrote in a post on his X account on Tuesday morning.
“Consequently, I urge the Nigeria Police Force and other security agencies to intervene and arrest this ugly trend without delay.”
Dear supporters, members and leaders of the All Progressives Congress (APC) in Osun,
I commend you all for your steadfastness, commitment, sacrifice, and tireless efforts throughout the just-concluded governorship election. Your unwavering support for my candidacy and your…
— Bola Oyebamiji (@OyebamijiBola) August 18, 2026
In thanking members of the APC, Osun residents and his supporters for “their steadfastness, commitment, sacrifice, and tireless efforts”, Oyebamiji said that though the election is over, “the values and causes we championed are alive.”
“We will continue to work for effective, inclusive, and rapid development of our dear Osun. I urge all of you who stood by our party and campaign to keep working for our community, to stay engaged, to continue to organise and to remain vigilant for the collective good of our state,” he said.
Fifteen political parties fielded candidates for the August 15 election in the South-Western state. At the end of the exercise, the Returning Officer for the election, Joshua Ogunwole, said Governor Adeleke polled 511,067 votes to emerge as the winner of the keenly contested poll.
“For that, Adeleke Ademola Jackson of the Accord Party, having satisfied the requirement of the law, is hereby declared the winner and is hereby returned elected,” he said on Sunday while announcing the results at the INEC Collation Centre in Osogbo.
According to Ogunwole, 1,005,800 votes were cast in the election, which was held across the 30 local government areas of Osun State, while 985,079 valid votes were recorded. The Returning Officer said 1,010,684 voters were accredited for the poll.
With the victory, Adeleke, who swept to power under the People’s Democratic Party (PDP) in 2022, will now serve a fresh four-year term as the governor of Osun State.
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Shun Violence, Focus On Issues Ahead Of 2027 Elections -Ibrahim Katsina Warns Politicians
As political activities begin to gather momentum ahead of the 2027 general elections, a security expert in Katsina State, Ibrahim Katsina, has urged politicians and their supporters to conduct their campaigns peacefully and avoid actions capable of overheating the political atmosphere.
Speaking in an exclusive interview with Channels Television in Katsina on Monday, the former Special Adviser on Security Matters to former Governor Aminu Masari stressed that democracy thrives on healthy competition and issue-based campaigns rather than violence, intimidation and hate speech.
He advised political actors to concentrate on promoting the manifestos of their respective parties and candidates, describing peaceful engagement as the true beauty of democratic practice.
“As the 2027 electioneering campaign draws closer, my advice to politicians is that they play according to the rules of the game in order not to overheat the polity,” he said.
“Let them sell the manifesto of their parties and that of their candidates in an amicable manner, and that’s the beauty of democracy.
“We need a stable polity. Politicians should play according to the rules of the game and avoid anything that could create tension. And INEC must ensure that any politician who heats the polity by inciting government or using thuggery be sanctioned. And enforcement agencies should ensure that the regulations are followed.”
He further urged law enforcement agencies to ensure compliance with the rules guiding electioneering campaigns.
The security expert commended what he described as the significant improvement in the security situation across Katsina State, attributing the progress to the collaborative efforts of government and security agencies.
According to him, security agencies have become more professional in understanding emerging criminal trends and deploying effective containment measures, expressing optimism that the gains recorded would continue.
He expressed confidence that security challenges would be further reduced before the 2027 general elections, assuring that ongoing operations would deliver even greater successes.
Katsina emphasised that tackling insecurity requires collective responsibility, noting that every citizen has a role to play alongside government and security agencies.
“Security is everybody’s business. When we unite against terror, we will succeed. The country belongs to all of us, and we must work together to ensure criminals do not destabilise our society,” he stated.
He also cautioned against glorifying criminal activities on social media, warning that such narratives could embolden criminal elements and undermine public confidence.
Instead, he encouraged Nigerians to celebrate the successes of security agencies and support ongoing efforts to consolidate peace, expressing optimism that the remaining security challenges were surmountable through sustained collaboration and public support.
“The isolated cases now are surmountable, and I am sure that with the efforts being put in place by the government and security agencies, these crimes will come to pass,” Katsina noted.
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Headline
Oluremi Tinubu To Launch Food Bank Programme In Ogun
Senator Oluremi Tinubu is expected in Ogun State today, Tuesday, for the Launch of the Zonal National Community Food Bank programme, featuring the distribution of food items to vulnerable and indigent residents of the state.
The programme, which will commence at Makun, Sagamu, is expected to attract major stakeholders from across the country as part of efforts to strengthen the Federal Government’s social intervention initiatives and provide support for vulnerable households.
She will lead the distribution exercise and other activities scheduled for the visit.
According to a statement by the Special Adviser to the Ogun State Governor on Information and Strategy, Hon. Kayode Akinmade, Senator Tinubu will also commission the 108-unit Muhammadu Buhari Estate at Kobape, Abeokuta.
She will also commission the Gateway Medical Centre of Excellence, a 250-bed ultra-modern hospital in Abeokuta, designed to provide advanced healthcare services to residents of Ogun State and neighbouring communities.
As part of her itinerary, the First Lady will hold an engagement with major stakeholders at the June 12 Cultural Centre, Kuto, Abeokuta, the state capital.
The visit is expected to further strengthen collaboration between the Federal and Ogun State Governments in the areas of social welfare, housing and healthcare delivery, while reinforcing the commitment of both governments to improving the quality of life of Nigerians.
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