FRSC blames traffic violation as 19 passengers burnt to death in Okene Bypass accident

A total of 19 people were burnt to death in a tanker-bus collision on Sunday April 28 on Okene-Lokoja highway in Kogi State.

The collision that specifically occurred on Okene Bypass reportedly led to an explosion, trapping a total of 22 passengers in the inferno.

The Federal Road Safety Corps (FRSC) in a statement which gave these details said the crash was largely caused by traffic rules violation.

It added that its emergency rescue team deployed in the area battled the situation for three hours.

Part of statement read, “The crash investigation report revealed that the crash involved two vehicles comprising a Dangote truck bearing the following registration details NSH680YJ, and a Toyota Hiace Bus with registration number KMC455ZE.

“The Toyota Hiace bus loaded from Kano was on its lane on the highway when the Dangote truck driver who drove all the way from Port Harcourt wrongfully overtook a vehicle and collided head-on with the bus.

“The impact of the collision resulted in a fire inferno that burnt the victims to death.

According to the report, the crash which was caused by route violation ‘One-way’ and wrongful overtaking, involved 22 people all male.

“Unfortunately, 19 people out of the 22 victims were killed and one injured.

“The remaining two victims who got rescued by the FRSC operatives without injuries survived the crash because they complied with traffic regulations on compulsory use of seatbelt.

“The corpses of the dead victims have been deposited at Okene General Hospital.

The statement signed by the FRSC spokesman, Jonas Agwu, an Assistant Corps Marshal, recalled that the Corps Marshal of the commission, Dauda Biu, at a press conference last week Thursday “warned against traffic violations citing instances where they resulted in avoidable crashes with fire outbreak, leading to wanton loss of precious lives and destruction to properties.

“As a result of that he had earlier emphasised on the need for maximum penalty for these drivers.

Dauda Biu reaffirmed the resolution of the Corps to continue its ongoing prosecution of drivers who by their actions cause road traffic crashes in Nigeria, noting that the driver of the truck involved in the Okene crash will not be an exception.

“As such, he called on the judiciary, leadership of transport unions and other relevant stakeholders in the road transportation sector to join hands with the Corps towards restoring sanity through speedy and effective prosecution.”

Naira rebounds, sells for 1,280/$ at parallel market

The Naira yesterday recovered against the US dollar at the parallel market as it appreciated to N1280/$, according to market information obtained by Nairametrics from currency traders.

This implied that the Naira appreciated by N120, representing a gain of 8.57 per cent when compared to the N1,400 to a dollar at which it traded on Friday.

Currency traders confirmed that they sold between N1, 280 and N1,300/dollar.

The local currency had, midweek lost a third of its value barely two weeks after strengthening to below N1,000 against the dollar.

It later dropped to N1,400 against the dollar at the black market on reports of fresh demand pressure.

This had made many people to question the impact of the sales of $15.83 million to 1,583 Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN).

The apex bank had, on Monday announced the sale of $10,000 to its licensed currency traders nationwide at the rate of N1,021/$1 as part of its plans to aid foreign currency accessibility for qualified end users and stabilise the foreign exchange market.

Currency traders had attributed the recent depreciation of the Naira to market forces as supply had been unable to meet up with the demand.

Meanwhile, a data from FMDQ showed that the Naira continued its downward trend against the greenback at the official foreign exchange window, closing at N1,339.23/$1 on Friday.

This represents a 2.24 per cent depreciation when compared to the N1,309.88/$1 that was reported the previous day.

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Recent initiatives by the apex bank had tempered forex scarcity, aiding the Naira’s recovery from an early March rate of N1,617 per dollar to N1,072 per dollar on April 17.

BDCs proffer solutions to depreciation

Meanwhile, the Association of Bureaux De Change Operators of Nigeria (ABCON), has revealed plans for a unified retail end of the foreign currency market to tackle the recent Naira depreciation.

The president of the association, Aminu Gwadabe, disclosed this on Friday, noting that the move would tackle volatility and boost regulatory compliance within that market segment.

According to him, the association is implementing plans meant to unify operators from different cadres of the market, including the inauguration of state chapters for market coordination, integration and administering a united market structure.

He revealed plans to upgrade ABCON’s Business Process Platform, formerly called SAAZ Master.

“Part of our vision for a united retail-end forex market includes activating geo-mapping and automated BDCs physical office verification exercise using the Remote Gravity Physical verification apps.

“This will enable forex buyers to easily locate BDCs offices for effective and seamless transactions,” he stated.

Currency can’t appreciate in a vacuum – Senator Nwoko

Senator Ned Nwoko yesterday advised the federal government and the CBN against any measure capable of artificially forcing the Naira to gain value against other currencies.

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Nwoko, who represents Delta North, gave the advice in a statement he signed and made available to the News Agency of Nigeria (NAN).

He stated that continuous revisits to previously implemented policies and considerations of new ones were imperative.

He noted that the value of a sovereign nation’s currency is the cornerstone of respect and collaboration among nations.

The lawmaker emphasised that Nigeria must stimulate Naira demand.

According to him, as a country that exports crude oil and other commodities globally, it is imperative that all transaction on these items be conducted exclusively in Naira.

“This will incentivise buyers to seek out Naira, thereby driving its appreciation due to increased demand and scarcity.

“Moreover, the foreign reserve policy warrants reassessment.

“The practice of maintaining reserves in foreign jurisdictions, termed “foreign reserves,” is not only objectionable but also counterproductive to Nigeria’s economic sovereignty.

“Unlike other countries like the United States, Britain, France and Japan, which hold their reserves domestically, Nigeria’s adherence to this practice raises questions about its colonial legacy.

“If our early indigenous leaders acquiesced to this approach due to colonial influence, why should we perpetuate it? The primary rationale often cited to justify foreign reserves is trade balance maintenance,” Nwoko said.

According to him, this argument lacks merit when considering the limited number of traders involved in importing goods into Nigeria, which constitutes a negligible fraction of the country’s population.

Naira rebounds, sells for 1,280/$ at parallel market

Chery celebrates automobile excellence, creativity at Lagos roadshow

Chery Nigeria on Friday held many Lagos fans of elegant new vehicles spellbound during its spectacular roadshow.

The event featured a captivating procession from the Carloha showroom to The Palms in VI passing through scenic routes such as the Third Mainland Bridge, Ikoyi and Victoria Island, ending with a celebration at the iconic shopping mall.

The roadshow not only showcased Chery’s exceptional vehicles but also celebrated the spirit of creativity and community.

The event provided a platform for guests to savour and enjoy the unique display of new work of art and automotive excellence.

The roadshow extravaganza, as the organisers called it, was revealed Chery’s commitment to engaging experiences, showcasing the brand’s latest masterpiece, the Tiggo 8 Pro,Tiggo 4 Pro and Arrizo 5, in an unforgettable way.
The highlight of the event was a unique “Sip and Paint” session led by a notable artist, who skilfully captured the essence of the Tiggo 8 Pro on canvas.

Guests were invited to unleash their creativity as they painted their own interpretations of the iconic Chery logo, adding personal touch.
The climax of the evening came with a breathtaking moment as Eben, renowned for his impressionistic prowess, unveiled his masterpiece – a stunning portrayal of the Chery Tiggo 8 Pro.
The artwork, met with awe and admiration from attendees, encapsulated the essence of Chery’s dedication to innovation, style, and sophistication.
Representative of Chery brand in Nigeria, Carloha, says it will continue to provide automotive solutions to  customers with its six-year free service and six-year warranty or 200,000km, whichever comes first.

Meanwhile, Chery has expressed its gratitude to all attendees, partners and supporters who contributed to the success of this extraordinary event.
“As the brand continues its journey of innovation and inspiration, it remains dedicated to delivering exceptional experiences that captivate hearts and minds,” the firm said in a statement on Saturday.