Ayeiroyin

Champions Cote d’ Ivoire believe that they can defend their title at next year’s Africa Cup of Nations as they end 1-1 at home to Sierra Leone. The Ivoirians needed a point to qualify, an acrobatic goal from Jonathan Kodjia after 37 minutes calmed home nerves. But after Kei Kamara equalised midway through the second half, the tension was palpable. Another away goal would have knocked the 2015 Nations Cup winners out but they held on despite a nervy finish. Salomon Kalou has a fantastic starter for the Elephants as he had been expected to miss out following the recent deaths of his family (father and aunt).

The Federal Government has explained the letter from United states Congressman Tom Marino to Secretary of State John Kerry, asking the US to withhold security assistance to Nigeria, on the strength of some imaginary infraction by the Buhari Administration, as out of tune with current realities. In the statement issued in Abuja on Sunday, the Minister of Information and Culture, Alhaji Lai Mohammed, said Congressman Marino was poorly informed and urged him to get first hand information from the US Embassy in Nigeria or any other credible source before engaging in what is nothing but “a propaganda of his own imagination.”   The Minister said the Congressman has demonstrated a poor understanding of global security issues by asking the US to refrain from selling warplanes and other military equipment to Nigeria based on a faulty premise. ‘’Insecurity anywhere is insecurity everywhere. Had Congressman Marino understood this, he would not have made the kind of call he made concerning...

Nigerian foreign exchange market face challenges as the naira has lost close to 40 per cent in 18 months. The naira has lost so much of its value on the streets even as the gap between the official exchange rate and the parallel market has continued to widen beyond control. Between December 2014 and June 2016, the value of the naira depreciated by nearly 40 per cent at the Central Bank of Nigeria,CBN window from N165 to the dollar which it was, at the end of December 2014. The depreciation at the parallel market has been more alarming. The pressure on the foreign exchange market is not being helped by the declining value of Nigeria’s major source of foreign exchange, oil, at the international market. The price of crude has been yo-yoing, thereby impacting heavily on Nigeria’s revenue and foreign exchange reserve, which has so far declined by 18.6 per cent to $28.06 billion from the $34.46 billion it was at the beginning of 2015. In trying to stem the problem posed by the foreign ex...