ALL THE RELEVANT NEWS: FRIDAY

30 Jul ALL THE RELEVANT NEWS: FRIDAY

🌍The Kyari, Hushpuppi crisis:

Despite its politicization, many Nigerians wish DCP Abba Kyari, one of the country’s respected cops, would come clean in the Hushpuppi money laundering crisis that may drown him.
* IGP Alkali Baba has ordered an internal review of the allegations made by the FBI against Kyari.
* A United States (US) court had called for the arrest of Abba Kyari. Otis Wright of the USDistrict Court for the Central District of California stated that FBI should find Kyari and bring him to the United States over his role in a multi-million dollar fraud perpetrated Hushpuppi.
* Kyari yesterday denied demanding or receiving a bribe from alleged internet fraudster Ramon Olorunwa Abbas, alias Hushpuppi, from a $1.1million loot. In a post on his Facebook page, Kyari said those celebrating the allegations against him would be disappointed.

🌍Update on forex sale suspension: The naira gained N5 as it appreciated to N520/$ on the parallel market on Thursday. On the Investors and Exporters’ (I & E) FX window, it closed at N411.67 to a dollar yesterday.
* That was on a day CEOs of banks promised to support the new foreign exchange (FX) measures of CBN and the regulator’s effort to achieve FX stability.
* Also yesterday, the CBN insisted there is no going back on the ban on FX sale to BDCs. It also commenced the refund of N35 million minimum capital deposits and licensing fees BDC operators that had applied for license but were pending.
* But the President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said the association would engage with the CBN to resolve all the issues that led to the ban on FX sale to its members.

🌍President Buhari and Prime Minister Boris Johnson of Britain on Thursday appraised the war against different forms of terrorism in Nigeria, with the host assuring Nigeria of UK’s support.

🌍Oil Monitor: prices dropped on Friday but remained on track to post steep weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of resurgence in COVID-19 infections across the globe.Brent crude futures for September, which expires on Friday, dropped 56 cents, or 0.7%, to $75.49 a barrel by 0640 GMT, following a 1.75% jump on Thursday.

🌍COVID-19 Update: From 535 on Wednesday, the rate of infection increased cases on Thursday with 558 infections and 2 deaths. The caseload as at yesterday was 178821 confirmed cases, 164930 recoveries and 2141 deaths.

🌍NNPC GMD, Mele Kyari, has said that the AKK gas project would lead to the development of three Independent Power Plants (IPP) in Abuja, Kaduna and Kano.

🌍TCN has explained that the power grid system collapse of Wednesday afternoon was due to the sudden loss of 611 megawatts (MW) of electricity at two Generation Companies (GenCos).

🌍Senior Special Adviser to Buhari on National Assembly Matters, House of Representatives, Umar El-Yakub has said the President is waiting for the National Assembly to transmit the PIB and Electoral Act Amendment bill for his consideration and assent.

🌍NCC to revise telcos’ operation levy, spectrum price

🌍FG reduces gas to power price from $2.50 to $2.18

🌍The rail sector of the transportation industry generates the average of N327 million monthly, Managing Director of Nigeria Railway Corporation (NRC), Fidet Okhiria, said on Thursday

🌍Managing Director of Nigeria Sovereign Investment Authority (NSIA), Uche Orji, says it has concluded plans to build a world-class hospital in Abuja, as part of efforts to strengthen the country’s healthcare system.

🌍Lawyers of Yoruba Nation agitator, Sunday Adeyemo, popularly known …