Dollar drops to 390naira

The naira continued its slide on Wednesday, dropping to 390 against the United States dollar at the parallel market as foreign exchange scarcity persisted.

The naira, which dropped to 382 against the United States dollar on Monday down from the 380 on Friday, had been little-changed on Tuesday, hovering between 381 and 382.

A bureau de change operator told The PUNCH that Wednesday’s drop was due to increased demand despite the scarcity of the dollar.

“We don’t think it will rise to N400 today, but I don’t know of tomorrow,” he said.

The naira has been under a persistent pressure as dollar scarcity continues to weigh on the local currency at both the parallel and interbank forex markets.

Economic and financial experts said inadequate forex liquidity at the interbank market was taking a toll on the parallel market.

Analysts had predicted that the naira would weaken further against the dollar this week owing to limited dollar supply as foreign portfolio investors continued to stay on the sidelines until the Nigerian economy showed signs of recovering from the impact of currency controls.

Trafficking: Police intercept vehicles conveying 12 children

Police operatives in Bayelsa State have intercepted two vehicles conveying 12 children into the state for alleged child labour and child trafficking.

The two vehicles – a Mazda 626 with number-plate BC 645 KSF and a Jetta with number-plate DX 643 PH  travelled from Akwa Ibom to Bayelsa.

The children were nine females and three males, aged between five and 17 years.

The vehicles were paraded at the State Criminal Investigation and Intelligence Department, Yenagoa.

The Police Public Relations Officer, Mr. Asinim Butswat, said they were arrested on Sunday during a routine stop-and-search operation along the Glory Land Drive.

Butswat said, “Policemen, during routine stop-and-search operation at the Glory Land Drive (in Yenagoa), arrested the two vehicles carrying the children.

“When they were interrogated, they could not tell where they were going. They said their parents are here in Bayelsa, but till now, none of their relatives have come to claim them.”

The police spokesman gave the identities of the prime suspects and drivers of the two cars as Inemesi Koffi and Geoffrey Ezekiel, both from Akwa Ibom State.

He noted that the police were suspecting a situation of either child labour or child trafficking since the children very young and could not say their destination.

Butswat said the children had been handed over to the Social Welfare Department of the state Ministry of Women Affairs while investigation was ongoing.

However, in an interview, Inemesi Koffi, claimed that the parents and guardians of the children asked him to help carry the children to Yenagoa to spend holidays with them.

Koffi, a commercial taxi operator in Bayelsa, said that he was in his village, Nkana, in Etinan Local Government Area of Akwa Ibom for a funeral when the children’s parents contacted him and sought his help.

He claimed that some of the children’s parents  were vegetable sellers at Swali Market and restaurant operators in Yenagoa.

Man city signs Jesus

Manchester City have signed 19-year-old Brazilian forward Gabriel Jesus from Palmeiras on a five-year contract, the Premier League club announced on Wednesday.

Jesus, who is reported to have cost City an initial fee of £27m ($36m, €32.2m), will remain on loan at Palmeiras until December before moving to Manchester in January.

He is currently on duty with hosts Brazil at the Olympic Games in Rio de Janeiro.

“Manchester City is one of the best clubs in the world so I’m really pleased to sign,” Jesus said in comments published on the City website.

“We have many great talents in the team and a fantastic manager in Pep Guardiola that I can learn so much from.

“I’m looking forward to showing the City fans what I can do and I think we’ll have a great future together!”

What I learnt from okocha----- Iwobi

Nigeria and Arsenal FC forward, Alex Iwobi, has revealed he learned a lot from former Super Eagles midfield maestro, Jay Jay Okocha.

Iwobi, who joined Arsenal at age seven, is Okocha’s nephew and the 20-year-old says the ex-Nigerian number 10 is his role model.

Speaking in a FourFourTwo report, Iwobi says, “One flick he [Okocha] taught me took a month to learn. But when I did it it in a junior match I thought: ‘Wow, I can do it!’

“I’ve always looked at him as a role model, and he’s always told me to express myself.

“The first shirt I ever owned was a Bolton shirt with my uncle’s name on the back. I wanted my hair like Ivan Campo’s at one point. My mum told me to calm down!”

The Nigerian played youth football for England but chose to play for the Super Eagles despite the Three Lions gunning for him.

He, eventually, donned Nigerian colours on 8 October 2015, replacing Ahmed Musa in the 57th minute of a 2–0 friendly defeat to DR Congo in Visé, Belgium.