Feb 12 • 17:03 UTC 🇳🇬 Nigeria Punch

Afternoon Recap: El-Rufai arrest drama, Otedola projects naira may hit ₦1,000/$, other top stories

In Nigeria, former Kaduna Governor Nasir El-Rufai faced attempted arrest by security agents at Abuja Airport, and billionaire Femi Otedola predicts the naira's value may drop below ₦1,000 to the dollar by year-end.

In a dramatic turn of events, security agents reportedly attempted to arrest former Kaduna State Governor Nasir El-Rufai upon his arrival at Abuja Airport from Cairo. El-Rufai resisted the arrest, asserting that he would only comply if presented with a formal invitation. This incident raises concerns about political tensions in Nigeria, particularly regarding the treatment of public officials by security agencies. The details surrounding the attempted arrest are scarce, yet it illustrates the ongoing struggles between political figures and law enforcement in the country.

In economic news, billionaire businessman Femi Otedola has made a bold prediction regarding Nigeria's currency, suggesting that the naira could fall to below ₦1,000 to the dollar by the end of the year. His assertion is tied to the anticipated full capacity operations of the Dangote Petroleum Refinery, which he believes will significantly impact the country's economic landscape. The potential depreciation of the naira comes amid ongoing economic challenges and highlights the critical intersection between Nigeria's economic policies and currency valuation.

Additionally, the article touches on various legal and personal stories, including a prominent judge’s recusal from a ₦213 billion asset forfeiture case against former Attorney General Abubakar Malami and two others. It also reports on a tragic incident in Lagos where a couple faced a terrible accident leading to the death of one and injury of the other. The diverse range of topics illustrates the complexity of Nigeria's current affairs, showcasing political, economic, and social issues at play in the nation.

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