News Report: Jesse Jackson To Address Media In Port Harcourt Today

Revd. Jesse Jackson

As the Garden City Literary Festival(GCLF), holding in Port Harcourt, capital city of Nigeria's Rivers State enters into its second day, United States Of America's leading civil rights activist, Revd. Jesse Jackson would be addressing a news conference at the Hotel Presidential at about 6.00pm today.

The civil rights leader, whom chidi opara reports learned arrived Port Harcourt in the early hours of today, would be addressing the news media on current national and International issues, especially, the current security situations in Nigeria, Africa and the world. The news conference, according to the Festival's modified programme, obtained by chidi opara reports, would also be attended by guest authors, partners and the Festival team.

A senior Festival official, identified as Mrs. Akele, when approached for confirmation of the specific location of the news conference in the hotel complex, said that it would be announced later, a precaution we gathered was taken for security reasons.

Efforts by chidi opara reports to have an exclusive chat with Revd. Jackson have so far been politely turned down by Festival Chief Executive Officer, Mrs. Koko Kolango.

News Report: Nigerian Naira Weakens On Strong Dollar Demand

Credit: Reuters

The Nigerian naira weakened against the U.S dollar on the interbank market on Monday as strong demand for the greenback from bureaux de change operators put pressure on the local currency traders said.

The local currency closed at 155.45 to the dollar on the interbank market compared to 155.20 per dollar on Friday.

Some banks declined to sell dollars bought from the state-owned energy firm NNPC, which would have helped ease pressure on the naira.

NNPC sold about $400 million to some lenders on Thursday, boosting liquidity and providing some support for the naira which had earlier on Wednesday fell to its 11-month low.

"(Banks) that have the NNPC funds are not selling and this has reduced the available dollars in the market and is putting pressure on the naira," one dealer said.

Traders said they expected that some of the banks who have NNPC funds would sell before Wednesday but the naira would continue to weaken if not enough liquidity came into the market.

On the official window, the central bank sold $350 million at 153.27 to the dollar, slightly lower than the $362.74 million demanded and $400 million sold at 153.16 to the dollar at Wednesday's auction.

"There is a lot of demand from the bureaux de change in the market and unless there are more dollar inflows, the naira will continue to be under pressure," another dealer said.

Traders said most of the energy firms that usually sell dollars on a month-end cycle have finished their sales and this could reduce support for the local currency.

Photonews: Brazilian Hackers Attack Nigerian Government Website

The Website Before Attack

After The Attack