Connect with us

Breaking News

If Kemi Badenoch tells me it’s day, I’ll assume it’s night – Fani-Kayode

Published

on

Former Minister of Aviation Femi Fani-Kayode has once again slammed Kemi Badenoch, Leader of the British Conservative Party.

This was after she shared her horrible experience in a government-owned school in Nigeria when she was young, likening the experience to prison yards.

“I attended a Federal Government College in a place called Sagamu in Nigeria. It was like a prison. It was like ‘Lord of the Flies’ where the students were in control of everything, and we operated a socialist system. There were thirty of us in one room. They made us cut grass with cutlasses because nobody else would do it. We also washed toilets without any water. I won’t say much about that aspect, but it was grotty,” Badenoch said.

Badenoch made this known barely a week after she revealed that she’s unable to get Nigerian citizenship for her children, whom she has with her British husband.

Reacting, Fani-Kayode shared on Facebook, “Barely two weeks after peddling the specious lie and reckless falsehood that her children were denied Nigerian citizenship because, according to her, our nation does not grant citizenship to the children of Nigerian mothers and foreign fathers, Kemi Oomoale Badenough has once again dropped a foul and mendacious clanger about Nigeria.

“This time she spoke about her supposed experiences at a Nigerian school and thereby confirmed the fact that she is an affliction and a plague.

“Honestly, if this creature were to tell me that it was day outside, I would have to assume that it was night. She is simply incapable of telling the truth.

“Lying, character assassination and slander come naturally to her: it is deeply embedded in her genes, her psyche, her spirit and her soul.

“Like her father, Satan, she was a liar and a murderer from the start, and she knows nothing but lies.
This strange woman is indeed the proverbial liar from the pit of hell.

“She is the darkness that seeks the darkness: the serpent that is devoid of truth and that seeks to do nothing but spread its poisonous and deadly venom and to steal, kill and destroy.

“In addition to her perfidious disposition, she has publicly stated that she no longer ‘identifies with Nigeria’ and consequently she should have her Nigerian passport revoked, she should formally be declared ‘persona non grata’ and she should be banned from ever setting foot on our shores again.

“Her obsession with not just demarketing but actually destroying Nigeria and decimating the image of the Nigerian people borders on the pathological, and at this point, I am constrained to question her sanity.

“She is indeed the proverbial lunatic and the village idiot all rolled into one.
She has done much damage to our nation, and it is time for us to stop treating her with kid gloves, fight back, expose her for the lying, mendacious, villainous and vile creature that she is and put her in her place.

“It is most inappropriate to continue to take her lightly and ignore her constant attacks and misrepresentation of our people because, by her actions and words, she has wilfully and systematically held herself out as the primary and principal enemy of Nigeria and will take every opportunity to destroy our aspirations and fortunes.

“We cannot continue to fold our arms and watch her denigrate and destroy us.

“It is time to bring out the big guns, vigorously and aggressively challenge her malevolent fabrications and malicious mendacities and expose her for what she is: a sick and racially conflicted young lady who hates the color of her own skin, who suffers from low self-esteem, who despises her ancestors and her parents heritage and who is in great need of psychiatric evaluation and medical attention.

“As Paul the Apostle said of Alexander the Coppersmith in 2 Timothy 4:14, she ‘has done us much harm, may the Lord repay her according to her works’ and as he said of another in 1 Corinthians 5 we hereby “hand her body over to satan that her soul may be preserved.”

Continue Reading

Breaking News

National Pension Commission (PenCom) changes price disclosure rule

Published

on

National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to discontinue the publication of daily unit prices for Retirement Savings Account (RSA) and Retiree Funds on their websites, replacing the requirement with a six-month disclosure of returns based on a three-year rolling average.

The directive was contained in a circular issued by the commission.

Under the new guideline, PFAs must stop implementing Section 2.0 (iv) of the Commission’s March 23, 2013 circular, which required them to display daily unit prices for the last seven days.

Instead, they are to publish on their websites the last six months’ rate of return — calculated as a 36-month compounded rolling average in line with the Circular for the Calculation and Reporting of Rate of Returns by Licensed Pension Fund Operators (LPFOs).

According to the commission, the rate of return must be clearly displayed on the homepage of each PFA’s website.

For instance, the six-month disclosure covering April to September 2025 would reflect the 36-month compounded returns ending in each of those months.

This has however raised transparency concerns in the pension industry.

The 2013 circular on Minimum Information to be displayed on PFA Websites formed part of PenCom’s transparency framework for the Contributory Pension Scheme.

The latest addendum modifies that requirement but does not remove PFAs’ obligation to disclose performance information.

Industry watchers say the development may reignite debate over the balance between long-term investment reporting and real-time transparency in Nigeria’s pension industry.

All enquiries on the addendum, the Commission said, should be directed to its Surveillance Department.

An industry analyst who does not want her name mentioned said the move could reduce contributors’ access to real-time performance data.

She said: “Daily unit prices allowed RSA holders to independently track short-term movements and detect fluctuations in fund valuation.

“With only a three-year rolling average now required, contributors will no longer see recent performance in isolation”, she noted.

The analyst added that while pension funds are long-term vehicles, removing daily disclosure raises concerns about information asymmetry.

“PFAs will still compute daily valuations internally. The issue is whether contributors should be denied access to data that already exists,” the analyst said.

However, another pension expert defended the directive, noting that pensions are structured for long-term accumulation and should be assessed over extended periods.

“A 36-month rolling average smooth’s out short-term volatility and provides a more accurate reflection of sustained performance,” the expert said, warning that excessive focus on daily fluctuations could encourage reactionary fund switching.

Continue Reading

Breaking News

Dollar rises in black market on Monday, traders quote new exchange rate

Published

on

Dollar edges higher against the naira in black market trading Dollar edges higher against the naira in black market trading

The United States dollar at the parallel market increased in value on Monday, Febuary 23 with traders quote at N1,375/$ as the new selling exchange rate.

The new rate is a slight depreciation for the naira when compared to N1,343 a dollar market closed on Friday, February 20, 2026.

Abdulahhi, a forex dealer, told Legit.ng that the new exchange rate follows renew demand in the market.

“I am currently selling dollars at N1,375/$1 and buying at N1,355/$1. The pound is trading at N1,845 to sell and N1,805 to buy, while the euro is also moving steadily in the market.

“It seems this week the dollar will return to over N1,400. I have been getting a lot of request.”

The fall of the naira comes as BDC operators continue to face difficulties in accessing dollars from commercial banks.

BDCs can get dollar

The apex bank had previously issued a circular allowing licensed BDCs to access foreign exchange through authorised dealers at the prevailing market rate.

Under the directive, each BDC is permitted to purchase up to $150,000 weekly, subject to Know Your Customer (KYC) requirements and due diligence checks, Punch reports.

Leadership reported that despite a policy announcement, some operators disclosed that no transactions have been completed under the new arrangement.

A BDC operator, who requested anonymity, said the directive remains largely unimplemented. According to him, the circular provides that disbursements will be made through settlement accounts, a provision that has raised operational concerns.

He questioned the feasibility of seamless, real-time transfers between domiciliary accounts across different banks, noting that such infrastructure may not yet be fully in place.

The operator added that while commercial banks appear supportive of the policy, many are still developing internal processes to align with the CBN’s directive.

He explained that BDCs are required to submit bid orders through their banks, which would then access the market on their behalf.

Naira in the official market

Meanwhile, in the Nigerian Foreign Exchange Market (NAFEM), the naira closed against the US dollar on Friday, February 20 at N1,346.32/$1 from N1,341.35/$1 a day earlier.

At the GTBank FX desk, the naira weakened by N7 against the dollar to quote N1,356/$1.

Continue Reading

Trending

Copyright © 2026 Naijacoaded | All Right Reserved | Powered by Naijacoaded.com |