PROPERTY including machines, office equipment and raw materials worth over N10 billion was yesterday destroyed by a mystery fire incident that gutted Vin Val Industries Limited Harbour Industrial Estate Atani Road, Ogbaru Local Government Area of Anambra State.

Following the dip in gross domestic products, GDP, for fourth quarter Q4, 2015 reported last week by the National Bureau of Statistics, NBS, analysts have delved into how and why the economy got to the declining year end.

THE announcement by President Muhammadu Buhari that Nigeria will join ISMAT, a Saudi-led military coalition of Sunni Muslim countries fighting rival Muslim factions in the Middle East is capable of destabilising Nigeria and unsettling its already seriously challenged unity in diversity. It is not only against the constitution of the Federal Republic of Nigeria, but more than that, it is liable to reduce Northern Nigeria and the nation a whole to a theatre of Muslim proxy wars as we see in Yemen, Syria, Libya and other countries.

Governor Ifeanyi Ugwuanyi of Enugu State through the governing council of the college has entered a partnership that will see the German International Training and Support, ITS, develop technological and vocational syllabus for the Enugu State College of Education Technical, ESCET, in a bid to shore-up the technological base of the institution to produce teachers of sound technological disposition.

Minister of Budget and National Planning, Udoma Udo Udoma, says that infrastructure remains a critical element in the growth of any economy. The minister said this lastw eek during his meeting with a delegation of the management of The Infrastructure Bank (TIB), led by its Chief Executive Officer, Mr. Adekunle Oyinloye, in Abuja.

As I’m talking to you, $20bn is in various domiciliary accounts of individuals. Naira is our currency, why are they keeping the foreign currency? From my experience in international finance, I have never seen a country where its nationals speculate on its currency”. The preceeding is an excerpt from the presentation of Dr. Joseph Nnana, CBN Deputy Governor (Financial Systems Surveillance) at a recent meeting with the Joint Appropriation Committee of the National Assembly.

This is the last in a six-part series that hopes to steer the current exchange rate debate away from uninformed analysis to one focused on facts, taken from economic theory, history, and evidence from Nigeria and other countries that have undergone periods of currency crisis. It is our hope that Mr. President will read these pieces and reconsider his stance on the Naira and the broader question of economic growth.

Lagos—Following the return of five containers of beans exported to the Republic of Ireland, Minister of State for Agriculture, Senator Heineken Lokpobiri, has ordered the involvement of the Nigerian Quarantine Service, NQS, in all examination of agro products for export to prevent further national embarrassment.

Osogbo—The ancient city of Ile-Ife yesterday witnessed an influx of dignitaries who came for the thanksgiving ceremony of the traditional wedding of Ooni of Ife, Oba Enitan Adeyeye Ogunwusi and Olori Wuraola.

At the last count, the Nigeria Football Federation, NFF, has received about five applications from notable coaches who are still intensifying efforts to coach the senior national team of Nigeria, the Super Eagles.

The Nigeria Electronic Fraud Forum (NeFF) has commenced moves to protect the economy from the ransomeware attack. The Forum also said it will expedite collaboration with the securities and law enforcement agencies to secure prosecution of electronic fraudsters.

Nigeria Drug Law Enforcement Agency, NDLEA, Borno Command, has arrested two men for allegedly peddling cocaine in the Internally Displaced Persons, IDPs’ camp in Dikwa.

Governor Mohammed Abubakar of Bauchi State, has threatened to hand over his predecessor, Isa Yuguda to the Economic and Financial Crimes Commission, EFCC, if indicted at the end of the ongoing probe of his eight-year tenure.

With approximately $100 million accretion to foreign reserves in the past three weeks, the nation’s currency, naira, appears to be on stable part, though not reversing its huge losses since this year.

AHEAD of today’s congress of the Peoples Democratic Party, PDP, in Edo State, a member of the party in Oredo Local Government Area of the state, Mr Ehi Osula, has challenged the eligibility of the immediate past chairman of the party in the state, Chief Dan Orbih, to run for the position of chairman having allegedly spent two terms.