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Forex Crisis: Passengers Groan As Foreign Airlines Hike Fares

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Travellers are expressing their disappointment and frustrations as airfares continue to skyrocket, making it increasingly difficult for individuals to embark on their desired trips. The rising costs, coupled with economic uncertainties, have left many passengers in a state of dismay.

About two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, the apex bank decided to float the naira at the Investor’s and Exporters’ Window of the foreign exchange market. Since then, the naira had fallen from N471/dollar to N867/$.

With this development, Nigerians, particularly, intending international students hoping to resume school in September, had been greatly impacted by the unpredictable fluctuations in foreign exchange rates.

The prices of air tickets had skyrocketed, making it increasingly difficult for Nigerians to travel, especially when compared to neighbouring countries such as Benin and Ghana, where airfares are notably cheaper.

The current policy of floating the Naira had done little to alleviate the situation. As the exchange rate continued to rise, most foreign airlines’ funds were trapped within Nigeria, due to a scarcity of dollars in the market. This scenario created a problematic landscape for Nigerians who depended on reasonably priced flights to go about their business.

Ade Johnson, a potential traveller, in an interview with The Punch in Abuja, noted that although he had not yet booked his flight, he had noticed a significant increase in prices compared to a few months earlier.

He disclosed that many Nigerians had started exploring alternative options. One popular choice was to travel via the Benin Republic, where airfares were considerably cheaper. Additionally, the proximity of Benin Republic to Lagos, with a travel time of less than an hour, mades it an enticing proposition for cost-conscious travel

He said, “Though, I have not booked my flight, prices have gone up compared to what was obtainable some months ago. Lagos to London was around 350k in May for the airline I booked, but the same route goes for 750k or more now.

“The best alternative option is to travel through Benin republic where air tickets are cheaper and it’s less than an hour drive from Lagos.”

Moreover, the Fx situation had created additional challenges for Nigerian students, including increased payment for tuition fees, visa expenses, the International Health Surcharge, and the need to provide proof of funds for maintenance and upkeep.

Previously, Nigerian students utilised Form A for tuition payments, which was pegged at a fixed rate controlled by the Central Bank of Nigeria. However, the current circumstances had altered this arrangement, leading to further financial burdens for students.

Sharing her experience, Success Apiaka, a traveller impacted by the recent increase and fluctuation in foreign currency rates, expressed his frustration with the effect it has had on her travel plans and budget, adding that she was forced to reassess and make significant adjustments to his financial planning to accommodate the unforeseen changes.

Apiaka recounted the challenges she faced, stating, “The recent increase and fluctuation in foreign currency has affected my travelling plans, especially considering the amount I had originally budgeted for the process. I had to go back to my drawing board to replan and find the best way to achieve my travel goal. This meant cutting down on a lot of expenses, including food, clothing, and family-related costs, in order to meet the current exchange rate and make the most of every penny I have.”

Fortunately for Apiaka, being knowledgeable in economics, she anticipated the economic difficulties ahead and took proactive measures to secure her travel plans. She booked her flight as early as May after paying her tuition, having learned from past experiences with using Form A for foreign currency transactions.

“I had to cut down a lot of my expenses in terms of feeding, clothing, family, etc just to ensure I can meet up to the current rate, utilise every single penny that comes my way.

She said the mental stress that came with the entire process, the wait is really not easy, process and all. For the financial aspect, I would say a little because this is something I have been preparing for although not at this current rate but so far I must say the mental stress was quite overwhelming at some point.

Another affected traveller, Aisha Abdullahi told our correspondent that currency fluctuations and the single exchange rate policy were affecting her travel plans, strewing that with her intended budget of N12m, now only yielding 12,000 pounds instead of the expected 24,000 pounds.

Abdullahi had been forced to consider alternative arrangements to make up for the significant financial hurdle, noting that said she had to explore selling off properties and liquidating investments.

She highlights the drastic change in flight prices, with a return ticket now costing between N800,000 to over N1m, compared to the previous rates of N300,000 and above.

“I’m considering flying through Benin Republic, Contonu Airport to be precise but I’m trying to weigh the prons and coins that are involved because moving my things from my base in Abuja down to Lagos means incurring some expenses like paying for excess luggage to Lagos.

“So, I will put all this together and compare it with the air ticket in Cotonou then that would give me a clear picture of what I want and make my decision.”

 

Credit: The Punch

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Lagos Court Sentences Man To 14Yrs In Prison For Sexually Assaulting 13-Yr-Old Disabled Boy

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The Lagos sexual offences and domestic violence court has sentenced one Success Odigoma Ude to 14 years in prison for sexually assaulting a 13-year-old boy with hearing and speech impairments.

The presiding judge, Rahman Oshodi, stated that the prosecution had proven the defendant’s sexual assault case beyond a reasonable doubt.

The youngster was sexually molested by Ude in the Ilufe neighbourhood of Ojo, Lagos, between May and August of 2021, according to the prosecution’s testimony in court.

The prosecution said the offence was contrary to the provision of section 261 of the criminal law, Ch. 17, Vol. 3, Laws of Lagos state, 2015.

Odigoma pleaded not guilty to the charge when he was first arraigned on February 17, 2022.

During the trial, the prosecution presented five witnesses against the defendant.

The defendant testified for himself while eight documents marked A to I were tendered as exhibits.

Giving the ruling, the presiding judge held that the victim was a young boy of 13 who could not consent to sexual activities.

The judge said he considered all the evidence presented in the case to find the defendant guilty and convicted him under section 262 of criminal law.

He held that the defendant was initially charged with the offence of sexual assault by penetration under section 261, which attracts a life sentence.

However, Oshodi said he found that the evidence established an attempt, rather than a complete offence.

Oshodi sentenced Ude to 14 years in prison and ordered that his name be registered as a sex offender.

“The term is to run from the date of your remand on September 1, 2021,” he ruled.

“This sentence sends a clear message that sexual exploitation of society’s most vulnerable members, especially children with disabilities, will be met with punishment.

“I can only hope that during your period of incarceration, you will come to appreciate the enormity of the harm you inflicted on an innocent child for your perverse gratification.”

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Police Nab Four Fake EFCC Operatives For ‘Robbery’ In Nasarawa

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Four people have reportedly been apprehended by the Nasarawa police command by agents posing as members of the state’s Economic and Financial Crimes Commission (EFCC).

The state’s police spokesperson, Ramhan Nansel, claimed in a statement on Thursday that a Federal Polytechnic Nasarawa student had been kidnapped by fictitious EFCC agents during a robbery operation.

According to Nansel, the suspects were part of a network that engaged in robberies against polytechnic students.

“On 17/04/2024 at about 1545hrs, a distress call was received that four individuals posing as EFCC personnel, using a Toyota Corolla green in colour with registration number Abuja YAB 509 TT robbed some students of Federal Polytechnic Nasarawa at Samakwe Lodge behind Government College, Nasarawa LGA and abducted one Audu Kingsley, an ND two student of the same Polytechnic,” the statement reads.

“Reacting to the unsavoury development, police operatives gave the suspects a hot chase and a roadblock was mounted at Laminga Junction to stop the suspects from escaping with the victim, but they hit the barrier and fled.

“Furthermore, police operatives at Anguwan Madugu called to mount another roadblock which the suspects sighted from a distance; they abandoned their operational vehicle and the abducted student and fled.

“Luck ran out of one of the suspects as he was caught and beaten mercilessly by an angry mob before the arrival of the police while others fled.

“The suspect was rescued by the police and rushed to Primary Health care, Laminga where he died while receiving treatment.

“The operational vehicle of the suspects was recovered and taken to the station where a search was conducted and two identification cards identifying the fleeing members of the syndicate were recovered.”

Nansel said the police conducted a follow-up investigation which led to the arrest of the remaining three suspects residing at Customs Quarters and the upmarket area of Masaka.

The police spokesperson said one iPhone 12 Promax, one Tecno Spark 5 and a fake EFCC ID card were recovered from the suspects as exhibits.

He further said the suspects confessed to the crime, adding that they had also been identified by some victims of their activities.

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Senate Passes Bill Seeking To Impose Death Penalty On Drug Traffickers

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The senate has approved the bill on third reading that would punish drug traffickers with the death penalty.

Following Tahir Monguno, the senator from Borno North, submitting a report on behalf of the joint committees on drugs and narcotics and the judiciary, the bill was passed by the upper legislative chamber on Thursday.

Monguno stated that the nation’s battle on drugs needs to be strengthened while he was presenting the report.

After the report was presented, the senate went into the “committee of the whole” to consider clauses of the bill where some senators disagreed with the death sentence.

When put to a voice vote, Barau Jibrin, deputy senate president, gave it to the “ayes”.

Thereafter, Adams Oshiomhole, a senator representing Edo north, said the senate should be careful with any law that deals with life.

“Anything that deals with life, we should be careful,” Oshiomhole said.

Responding, Jibrin said Oshiomhole should have called for a divide.

“I’m sorry my former national chairman… you should have called for a divide, it is your right, but we have passed it,” the deputy senate president said.

Also, Akpan Ekong, senator representing Akwa Ibom south, tried to come under “personal explanation” to disapprove of the provision, but Jibrin ruled him out of order.

The bill, which originated from the house of representatives, will be sent to the president for assent if there are no differences between the two chambers of the national assembly.

If there are differences, the two chambers will set up a conference committee to harmonise the grey areas before it is sent for assent.

In recent times, the National Drug Law Enforcement Agency (NDLEA) has been making substantial seizures of substances ranging from cannabis to opioids from suspected traffickers.

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