The naira hit its weakest level on the black market in more than a week at 460 to the dollar on Wednesday, as a central bank move to channel dollars to retail currency outlets failed to ease liquidity shortages, traders said.

The unit had been quoted at 455 since Oct. 17 before weakening on Wednesday, they said. On the official market, the naira ended at 305.50 per dollar, a level it has closed at for more than two months, supported by central bank interventions.

The naira had been relatively stable on the black market after the bank asked international money transfer firms to sell dollars directly to bureau de change operators to boost liquidity and narrow the gulf with the official market.

The directive was initially effective, traders said, but its impact has been limited due to few dollars coming into Nigeria.

According to Reuters, one trader told the news portal that “What we get from Travelex is not sufficient,” referring to demand in the market.

International money trasfer firm, Travelex, sells around $15,000 to 1,000 retail currency outlets weekly, but the amount is a fraction of what is required to cover demand from individuals and small businesses.

Dollar shortages have caused many firms to halt operations and lay off workers, compounding an economic crisis exacerbated by the fall in global prices for oil, which accounts for 70 percent of Nigeria’s budget revenue.

The central bank has struggled to support the local currency as its dollar reserves have continued to fall. Traders say the naira has been testing new lows as they try to find thresholds where liquidity can begin to return.

There was pandemonium in Abesan Federal Housing Estate, Ipaja in the Alimosho axis of Lagos yesterday, Tuesday, October 25, 2016, after suspected cultists wreaked havoc in the area.

During the attack, a man identified simply as Bebo, was butchered in cold blood leading to his death on the spot.

Presently, shops in the area are currently locked for fear of a reprisal attack in the community. Inside Mainland gathered from a source that residents were thrown into confusion when the cultists stormed the area on motorcycles. The gang, according to reports had been on the trail of Bebo before he was cornered at the spot where he was murdered.

The source who craved anonymity disclosed that “he is popularly known as Bebo in the area. He visited a pharmacy to get drugs before he was hit unaware. The guys who attacked him outnumbered him and he couldn’t escape the scene.”

It was gathered that Bebo was formerly a student of the University of Lagos before he dropped out. A source revealed that “He is feared in the area because he is a member of the Eiye Confraternity. He was the second in command while at Unilag and also held the same position in Abesan before he was killed yesterday night.”

Another resident who spoke on condition of anonymity said that “he was killed at Greenland Bus stop after stepping out of the drug store. The cultists blocked him while he tried to run and immediately took turns in inflicting cuts on him before he died.”

When asked if security operatives have visited the scene, the source told a correspondent that “Police officers were around yesterday after the incident but no arrests were made. Presently, the area is deserted and there is no security presence.”

The Ogun State Police Command has arrested two suspected hired-assassins and a female banker over failed attempt to assassinate her ex-husband identified as Tochukwu Onyebuchi.

The state Commissioner of Police, Ahmed Iliyasu paraded the suspects at the command’s headquarters in Abeokuta on Wednesday.

He said the banker, Oluchi Tochukwu, hired the suspected criminals to assassinate her husband in his residence at Ayobo area of Lagos State.

Iliyasu named the two suspected assassins as Chigozie Smart (32) and Kingsley Ikechukwu (36).

He said they were intercepted and arrested on Oct. 19 at Ijebu-Ode while attempting to escape to Onitsha with the victim’s Range Rover Jeep.

He said Oluchi was arrested at Ayobo area of Lagos State.

He said, “One Oluchi, a 32-year-old banker, who is married to one Tochukwu Onyebuchi years ago, got separated from her husband following some matrimonial problems.

“The custody of their only child is currently being contested in the court but Oluchi has another plan.
“She connived with the trio of Chigozie Smart, Kingsley Ikechukwy and one other who is now at large to eliminate her husband.

“She arranged for the weapons which includes cutlass, iron rods and acid which she kept in her husband’s compound at Ayobo area of Lagos State and described where she kept it to the assailants.

“The suspects went there on Wednesday as planned and matcheted the man severally on his head and poured the acid on him.

“The suspects thereafter abandoned the victim and took away his range Rover Jeep which Oluchi instructed them to drop at her brother’s place in Onitsha, Anambra State.

“Luck ran against them when a patrol team of the Ogun State command on Wednesday sighted the vehicle along the Ijebu-Ode/Benin expressway and stopped it for search.

“While searching the vehicle, blood stain was seen and the two occupants were unable to give satisfactory account of the blood stain, hence, they were arrested.

“It was during interrogation that the suspects revealed all that transpired to the police.”
The commissioner said that the victim, who had been treated at an undisclosed hospital, was in the custody of the police helping them in the process of investigation.

Oluchi, however, denied contracting the duo of Chigozie and Kingsley and one other at large to assassinate her husband.

Oluchi, who acknowledged that her three-year-old marriage to her husband had crashed, told journalists that she had no reason to kill him.

Meanwhile, Chigozie told newsmen that it was Oluchi who hired them to kill her husband with a promise to purchase “Tokunbo” cars for each of them after a successful operation.

– NAN

One of the two married woman declared wanted by the Lagos state Police command over alleged criminal activities, including lesbianism, has been arrested in Port Harcourt, Rivers state.

The women, have been on the run since their alleged criminal activities were reported to the Police.

A police source said the suspects were committing the dastardly act in one Alhaji Osilo’s house each time he was away. Osilo’s neighbours, who felt the suspects would be bad influence to others, reported the abominable act to Osilo who in turn reported the matter to the police.

It was gathered that Alhaji Osilo also reported one of the ladies Ogunwale Abiola Idowu, to her husband who was unable to caution her.

A police source said;

“it is true, the illicit act of lesbianism against Ogunwale Abiola and her mate Monisola Adeko was reported to us and we have commenced Investigation in the alleged act of lesbianism by the two women.

We have identified the women and we will soon apprehend them. It was Abiola partners’ husband, Osilo that reported the matter to us. You know that the act is against the law of our land, we must enforce the law.”.

It was gathered that Abiola and her partner have been on the run since their evil act was uncovered.

Luck however ran out of Monisola who was apprehended at the weekend in Port Harcourt where she had been hiding.

The police said the suspect, has made useful confession, but denied knowledge of the whereabouts of her accomplice as she claimed they lost contact.

The police have confirmed that her alleged accomplice, Abiola had since relocated to either North America or Europe.

Mr Frank who spoke for the Kelani family said: “The Kelani family of Abeokuta frowned at our son, Abiodun for marrying a woman who has made the family a laughing stock”

Monisola’s husband Alhaji Osilo spoke to Daily Sun

” Yes, my neighbours opened the can of warm that Abiola has been doing the ungodly act with my wife in my house anytime I was away. I could not stomach such evil that was why I reported the matter to the police,”

When contacted, Abiola’s husband Mr Abiodun Kelani said ”I don’t know what the police are saying. My wife is not in the country at the moment. Let the police do their job and let me be.”

Culled From LB

Eight suspected prostitutes and three men have been arrested by the Lagos State Government at the abandoned home of former National Security Adviser, Gen. Andrew Owoye Azazi in Ikoyi, Lagos state.

Officials of the Lagos State Taskforce on Environmental and Special Offences (Enforcement) Unit and the police from Ikoyi Police Station, today stormed Azazi’s abandoned house at Number 5 Club Road, Ikoyi and arrested the women and the men.

The arrest is part of the Lagos State Government’s clean up exercise in Ikoyi and Victoria Island which have been overtaken by illegal and abandoned structures.

One of the suspected prostitute named Patience Ajoke, said prior to their arrest, nobody had come there to warn them against using the home of the late military chief.

“I don’t know anything happening in the compound until Saturday when they came to arrest us by police from Ikoyi Police Station, they released us to come back and pack our things, when we were inside to pack our loads, they came back and arrested us again. Nobody has come to warn us to stay away from there,” said Patience Ajoke, one of the suspected prostitutes.

20 year old Mary Augustine from Benue state said contrary to claims by the task force officers, she is a cleaner and not a prostitute.

Chairman of the Lagos task force unit, Yinka Egbeyemi refuted claims by the women that they weren’t prostitutes.

“We have been there once with the DPO of Ikoyi Police Station. They sell ‘paranga’ aka alcohol in that place. During the clean up exercise, we were asked to move there again. We saw policemen and military men there and all sort of human beings. They are doing prostitution business there. We are going to charge them to court’ he said.