NEWS:Africa’s Richest Man, Aliko Dangote loses $7.8 Billion in Naira, Stocks Plunge

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Fake Customs Officer dupes Victims in Auction Sales

The Lagos State police on the 17th of February apprehended a fake Deputy Superintendent of Customs and two others for allegedly duping people of not less than 5million naira in an auction sales.

The suspects named Ramoni Raji, Usman, and Ibrahim Adekunle were arrested by operatives of the special Anti -robbery squad in Lagos.

Mr Raji while speaking to correspondents of Punch Metro, confessed that he had used the customs uniform to dupe several people in Kwara, Abuja and Lagos State.

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Africa’s Richest Man, Aliko Dangote loses $7.8 Billion in Naira, Stocks Plunge

Due to the current devaluation of naira, Aliko Dangote Africa’s richest man, has lost more than $7.8 billion of his fortune since February.

As at November 2014, Dangote was worth $21.6 billion but has now dropped to  $17.2 billion.

The naira which  is now trading at N187 to $1 officially, compared to N165 in November. In the parallel market, the naira traded at N218 for a dollar Monday. In dollar terms, the devaluation has knocked more than $40 billion off the value of Nigeria’s economy.

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Military arrests Boko Haram fighters disguised as women

Major Gen. Chris Olukolade, the Director of Defence Information on Monday in a statement said, that troops were screening a group of people mostly women in Baga to ascertain their true identities and to find out whether they were supporters of the deadly sect or not.

The Defence spokesman also said that the troops had arrested many terrorists hiding in Baga apart from those captured during the battle to liberate the town and that  several arms and bombs hidden at some locations within Baga had been recovered, stated that those in custody were being interrogated.

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