'Why I am angry with Buhari' -Audu Maikori

I am angry! During the last elections Nigerian youth were galvanized and they voted massively for change from the previous administration!

The results showed the role the youth played in effecting this victory for the ruling party.

Pope Francis takes 12 Syrian migrants to the Vatican

Pope Francis has taken 12 Syrian migrants back with him to the Vatican after visiting a camp on the Greek island of Lesbos.

The three families, including six children, are all Muslim and had their homes bombed during the Syrian war.

The Vatican said in a statement that Pope Francis wanted to "make a gesture of welcome'' to the refugees.

Thousands of migrants are now stuck on Lesbos after last month's EU-Turkey deal to try to ease the flow.

All of those leaving with the Pope were already living on Lesbos before the deal was implemented, the Vatican said.

Yuan swap deal : Sublime or Ridiculous?

Watch out all you dollar hoarders: the Chinese yuan is coming for you. Many financial analysts think the dollar under your pillow may soon be worth less than the rate at which you bought it. They think you run the risk of vomiting most of what you have swallowed since the forex crisis started. With the yuan going to be directly available to Nigerians — effectively eliminating the “middleman” called dollar — it is safe to say the Central Bank of Nigeria (CBN) has made a bold move in its controversial management of the exchange rate crisis, a move that some analysts believe may ease the demand pressure on the dollar, even if the gains would only be marginal.

For those who may still be in the dark, the news is that Nigeria and China have agreed in principle to a yuan swap. In simple English, it means Nigerians and Chinese would not need the dollar when they do international business with each other. Yuan will now be directly used. Currently, a Nigerian importer needs to buy dollars from the bank (or black market) in order to pay for Chinese goods and services, which are priced in dollars. This automatically puts pressure on the exchange rate. The dollar is then converted to yuan. In between, conversion charges are incurred. Now Chinese exports to Nigeria will be priced in yuan. That is the deal.

Why does a yuan swap matter? Good question. China is the biggest exporter to Nigeria — to the tune of over $14 billion yearly. Therefore, we can say the demand for dollar will drop by at least $14 billion when we do the swap deal. Mr. Godwin Emefiele, the CBN governor, will certainly sleep better if $14 billion can be struck off the FX demand list. That also means the naira may begin to lose less energy against the dollar. Many economists and experts still find it unpardonable that the government of President Muhammadu Buhari has refused to officially devalue the naira, and the jury is still out on the resort to unorthodox measures to “protect” the national currency.

Lest I forget, no deal has been signed yet. There are, thus, no details to discuss. By the time the CBN puts pen to paper with the People’s Bank of China (PBOC), we will get to know how much is involved in the swap, how long the deal will last and what the exchange rate will be. The good news is that unlike many currencies, the exchange rate of yuan is not tied directly to the dollar. Rather, it is determined by a basket of currencies, even though the dollar is still a key determinant. There is a reference rate used by PBOC to attain “parity” — but we all know that the yuan is undervalued for economic reasons. Nigerians could, therefore, expect to buy a cheaper yuan.

Before we celebrate too much, there are possible downsides. The CBN must look at the details with a fine toothcomb, because the devil could be in the details. More importantly, Buhari must show the “political will” to protect Nigeria’s interest. He has said the right things — by insisting that Nigeria will not become a dumping ground for Chinese exports, and that the Chinese should come and establish factories in Nigeria. This is beautiful. The next thing is action. We have heard a lot of that rhetoric in the past but a lack of will means we do not follow through. The Chinese could end up enjoying all the benefits while we come out empty-handed.

Blac Chyna refuses to join the Kardashians

Blac Chyna isn’t ready to be part of the Kardashians,TMZ reports the star wants nothing to do with the world famous brand because it will “royally screw up her brand”. 

Five men arrested for kidnapping and killing youth corps member after collecting N1.5 million ransom

The Rivers state Department of State Security, DSS, arrested five suspects allegedly behind the abduction and murder of a National Youth Service Corps (NYSC) member, Mr Sampson Worlu even after they collected N1.5m ransom for his release.

Grazing Commission Bill :When men die that cattle may Live -Reno Omokiri

Nigeria is not the only country where nomadic pastoralists herdsmen come and go. In Kenya, they have the Maasai herdsmen who have been herding cattle around the Nile Valley area from the days of Joseph in ancient Egypt. Other nations have their own form of pastoralists too. But never in the history of the 20th and 21st Century has the world encountered a scenario such as that which stares Nigeria in the face, whereby Fulani pastoral Herdsmen simultaneously and nationally and almost systematically are wiping out indigenous Nigerians for the benefit of their cattle.

'We stand with Nigeria in war on Boko Haram' - David Cameron

The United Kingdom (UK) says it is supporting Nigeria in the ongoing war against the Boko Haram insurgents.

UK Minister for International Development, Nick Hurd, told the News Agency of Nigeria (NAN) in Abuja that the UK had a very long cordial relationship with Nigeria.

FG to begin digital switch over in Jos

The minister of information and culture, Lai Mohammed, has said that about 200,000 households in Jos will receive free set-top boxes for the pilot scheme of the digital switch-over on April 30th, 2016.

Mohammed made this known in Jos on Friday when he led members of the Ministerial Task Force on digital switch over (DSO) on a courtesy visit to the Plateau State Governor, Mr. Simon Lalong.

CNN Video: Nigerian Senate demands update on missing Chibok girls

The Nigerian Senate demanded updates from the nation’s security agencies on attempts to rescue girls abducted from the town of Chibok two years ago, CNN reports.

Lawmakers voted unanimously Friday to have leaders of security agencies brief the Senate on the efforts made to date.

Adopt zoning in 2019 or fail again, Group tells PDP

As the Peoples Democratic Party (PDP) gets set for its forthcoming National Convention to be preceded by congresses to elect new officers at state level, the Owerri League of Patriots (OLP), a socio-political group, has stated that the principle of zoning of elective offices from the governorship to the last party office should be adopted by the PDP in Imo State to avert another electoral mishap.