Politics |

October 13, 2023

October 13, 2023 IFMNEWS

Ifeanyi Ubah Dumps YPP, Joins APC

The national assembly where the Senator representing Anambra South Senatorial District, Ifeanyi Ubah has dumped the Young Progressives Party (YPP) for the All Progressives Congress (APC).

In his letter of defection read by the President of the Senate, Godswill Akpabio, Ubah cited irreconcilable differences between him and leadership of YPP for his exit from the party.

Ubah was before his defection to the APC, the sole member of the YPP in the 10th Senate.

With this, APC has 60 Senators, while the number of Senators in the opposition platforms have reduced to 49 in the red chamber.

October 13, 2023

October 13, 2023 IFMNEWS

CBN Lifts Forex Ban On 43 Items, To Intervene In FX Market

The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items restricted from accessing FX from the I&E window.

The apex bank had in 2015 restricted the items, saying they were not valid for foreign exchange and could be produced in the country.

Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.

However, in a statement, the bank’s Director of Corporate Communications Isa AbdulmUMIN said the ban has been lifted.

He noted that, as market liquidity improves, the CBN interventions will gradually decrease, and as part of its responsibility to ensure price stability, will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.

The CBN added that Importers of all the 43 items previously restricted by the 2015 Circular and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.

October 13, 2023

October 13, 2023 IFMNEWS

Three Escape Death As Fuel Tanker Falls Off Otedola Bridge Again

At least three passengers of a bus have narrowly escaped death after a diesel tanker toppled at Otedola Bridge, inward Berger along Lagos-Ibadan Expressway.

The accident involved a tanker fully loaded with 33,000 litres of diesel and a mini bus.

The articulated vehicle spilled its content on the road, and miscreants seized the opportunity to scoop the fuel on the road from the ill-fated tanker.

Emergency responders, however, salvaged what could have been another major disaster at the accident scene as they kept the those scooping fuel at bay.

The Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq, said preliminary investigation revealed that the diesel-laden tanker was coming from Mowe Ibafo when it overturned inward Berger.

The cause of the accident yet to be ascertained.

October 13, 2023

October 13, 2023 IFMNEWS

Many Trapped As Oil Tankers Burst Into Flames In Lagos

This situation update of the fire incident involving a petrol tanker that occurred last night at Sifax Inward Costain area in Lagos state.

The responders including the Lagos State Traffic Management Authority (LASTMA), the Lagos State Emergency Management Agency, LASEMA and the Nigeria Police Force say they have succeeded in bringing under control a fire incident that

The fire was said to have been ignited when one of the tankers was ascending the bridge but suddenly rolled back onto the other tanker and other vehicles.

Eyewitnesses claimed a container-laden truck, which was coming from Apapa climbed the bridge leading to Orile and fell off at the tail end of the bridge before colliding with a fuel tanker, which burst into flames.

The number of people trapped in the inferno cannot be ascertained at the moment, but preliminary assessments revealed that three container laden trucks, two tankers laden with unknown but highly inflammable content, one tipper truck laden with gravel, one flatbed truck and three cars are in the pile up.

Speaking with Inspiration FM, Superintendent Route Commander, Bisi Sonusi gave an account of the situation.

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