Forcing naira to appreciate won't work, Peterside tells FG – Newstrends
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Forcing naira to appreciate won’t work, Peterside tells FG

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Forcing naira to appreciate won’t work, Peterside tells FG

Founder of Stanbic IBTC, Atedo Peterside, has advised the Federal Government not to force the naira to appreciate against the dollar and other currencies in a hurry.

He stated this on a Channels Television programme: “Politics Today,” on Thursday.

Peterside said, “Going to sell dollars to Bureau De Change at N1,000, N1,050, those guys will turn around two weeks later and sell it at N1,400, N1,500 and they will go away laughing.

“What’s the point for that? It’s better to have some stability they can sustain; keep between N1,300 and N1,400, which looks to be the natural equilibrium band today.

“Keep it there for a while, build up your reserve to let confidence come back.

“So stop trying to appreciate the naira in a hurry. It’s not going to work.”

Peterside said the next step for the government is to start doing things to build confidence in investors and stop reckless spending.

He said the habit of doing five things right and doing two things wrong would not help the government achieve anything tangible.

He said Tinubu’s monetary policy is on the right direction, but the government should tackle huge fiscal indiscipline.

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Anger at Usmanu Danfodiyo University as bandits kill deputy VC 

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Anger at Usmanu Danfodiyo University as bandits kill deputy VC 

Usmanu Danfodiyo University Sokoto (UDUS) is currently mourning in anger over the killing by suspected bandits of Professor Yusuf Saidu, the institution’s deputy vice-chancellor of research, innovation and development.

The university in a statement on Monday said Saidu was killed on his way to Kaduna from Sokoto.

It said the death of the professor was a “painful loss” to the academic community.

“The death has occurred of Prof. Yusuf Saidu, the current Deputy Vice-Chancellor of Research, Innovation, and Development at Usmanu Danfodiyo University Sokoto,” the statement read.

“He was attacked and killed by bandits on his way to Kaduna from Sokoto State. A man of integrity, religion, dedication, and courage.”

“May Allah accept his soul and forgive his sin, but this is a painful loss to all members of the university community and the academy at large.”

Saidu was a professor of nutritional biochemistry at the university.

He graduated in 1990 with a bachelor of science degree in biochemistry from the same university and was the best graduating student.

He obtained a master’s degree in biochemistry from the University of Jos in 1994 with distinction and his PhD in biochemistry from Usmanu Danfodiyo University in 2005.

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Super Eagles Coach: NFF divided over Minister’s choice of Amuneke

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Emmanuel Amuneke

Super Eagles Coach: NFF divided over Minister’s choice of Amuneke

There are serious indications that some members of the  Nigeria Football Federation (NFF) are grumbling about the latest development by the Sports Ministry to allow former U-17 coach, Emmanuel Amuneke to oversee the remaining games of the 2026 World Cup qualifiers.

ThePAPERS reports that the  Nigeria Football Federation (NFF) axed Finidi George‘s tenure as  Super Eagles coach and announced plans to hire a foreign technical adviser in the wake of the team’s shambolic 2026 World Cup qualifying campaign so far.

A reliable source from the Glass House told ThePAPERS that there are rumours from the Sport Ministry that the rejected Emmanuel Amuneke could eventually be appointed as interim coach of  the Super Eagles Super Eagles for the remainder of the World Cup qualifiers before appointing a foreign coach.

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This development, according to the source, will not be welcomed by the top executive members of the NFF, while some are already grumbling to decline the approach of the Sports Ministry whenever it comes up.

The PAPERS had earlier reported that former Tanzania national team coach, Emmanuel Amuneke was the anointed candidate of the Honourable Minister of Sports and Youth Development, John Enoh before NFF appointed Finidi George for the top job.

It is yet to be confirmed if the speculations could amount to the announcement of Amuneke as interim  Super Eagles coach.

Super Eagles Coach: NFF divided over Minister’s choice of Amuneke

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As Nigeria auto industry summit holds this week, Globe Motors to showcase locally-assembled mobile cooling van

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As Nigeria auto industry summit holds this week, Globe Motors to showcase locally-assembled mobile cooling van

Globe Motors will this week Thursday June 27 showcase its locally-assembled cooling van at the Nigeria auto industry summit holding in Lagos as one of the highlights of the event.

Organisers of the event, Nigeria Auto Journalists Association (NAJA) announced this in a statement, just as more auto companies have indicated interest in participating in the maiden edition of the programme.

It said the production of the Nigeria-assembled mobile cooling van aimed to proffer solutions to the challenges being faced by stakeholders in this area.

Already, Kia Nigeria, Carloha Nigeria, Coscharis Motors , Globe Motors, Ineh-Mic Motors, Suzuki By CFAO, RT Briscoe, Toyota Nigeria Limited (TNL), Weststar Associates Limited and Honda Automobile Western Africa Limited (HAWA) have pledged full support for the event.

The event being organised in partnership with the National Automotive Design and Development Council (NADDC), has continued to excite stakeholders as the countdown began on Monday (today).

The Comptroller-General of the Nigeria Customs Service (NCS), Mr. Bashir Adewale Adeniyi and officials from the Nigeria Ports Authority (NPA) are also expected to address the myriad challenges facing auto importers at the summit.

According to the organisers, the country’s automotive industry is expected to rally all stakeholders together in addressing the challenges facing them and recommend practical solutions to the government through a communiqué at the end of the event in order to fully explore the great potential in the automotive sector for national development.

Expected to be declared open by the Minister of Industries, Trade and investment, Dr. Doris Uzoka-Anite, summit, which has as theme, Reviving Nigeria’s Economy through the Automotive Sector, will have the NADDC Director General, Mr. Joseph Osannipin, as the Chief Host.

The NADDC boss is expected to be supported at the summit by members of the Nigeria Association of Automotive Manufacturers (NAMA) as well as leading stakeholders across Nigeria.

Commenting on the importance of the summit for the development of the country’s automotive sector, Chairman, organizing committee of NAISU, Femi Owoeye, said, “Initiating this summit is vital, especially at this moment in history, when Nigeria is struggling to map its way out of the prevailing global economic despair. Being one of the drivers of the global economy, the automobile industry, if given the necessary impetus in Nigeria, is capable of transforming the country to an automotive manufacturing hub in Africa.

“To this end, Nigeria Auto Industry Summit shall annually produce significant information compost that would help the government to make it happen. That is why the maiden event is themed: Reviving Nigeria’s Economy through the Automotive Sector.”

Chairman of NAJA, Mike Ochonma, said, “The summit shall bridge the information and communication gap between the nation’s auto industry stakeholders and relevant government agencies.

“Moreover, annually, the summit shall give a single and united voice for the auto industry leaders to set developmental agenda aimed at kick- starting and driving relevant government policies towards a sustainable development of the automotive industry in Nigeria and ultimately position the country as a frontline beneficiary of the African Free Trade Agreement Area.”

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