WIKE REVOKES PDP NATIONAL SECRETARIAT LAND IN ABUJA. (PHOTO).

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 Wike Revokes PDP National Secretariat Land in Abuja The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the land allocated to the Peoples Democratic Party (PDP) for its national secretariat in Abuja. In a revocation notice dated March 13, 2025, and signed by the Director of Land Administration, Chijioke Nwankwoeze, Wike cited the party’s failure to pay annual ground rents for 20 years—from January 1, 2006, to January 1, 2025—despite multiple reminders through national newspapers and electronic media. The letter stated that the revocation was carried out under the powers conferred on the minister by the Land Use Act No. 6 of 1978. It also referenced Section 28, Subsection 5 (a) and (b) of the Act, which allows for land repossession due to non-compliance with occupancy conditions. The FCT administration will now take immediate possession of the property until all outstanding payments are settled.
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NAIRA FALLS TO N1, 660/$ IN PARALLEL MARKET. (PHOTO).

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  Naira Falls to N1,660/$ in Parallel Market


The Nigerian Naira has further depreciated in the parallel market, trading at N1,660 to the US dollar. This development reflects increasing pressure on the local currency amidst ongoing economic challenges.  


The decline is attributed to a combination of factors, including heightened demand for foreign exchange, reduced dollar inflows, and limited intervention from the Central Bank of Nigeria (CBN).  


Market analysts warn that the persistent depreciation could further impact inflation rates, cost of living, and the purchasing power of citizens, urging swift policy measures to stabilize the currency.

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