The official foreign exchange market witnessed a substantial rise in dollar supply, soaring by 180.59 percent to $440.13 million on Friday. The naira concluded the week at N1435.53/$ after a week marked by fluctuations, indicating a positive response to the Central Bank of Nigeria’s (CBN) efforts to stabilize the foreign exchange rate. Data from FMDQ Security Exchange reveals that forex turnover experienced a notable surge, climbing from $156.86 million on Thursday to $440.13 million on Friday. The improved liquidity extends beyond commercial banks, with the CBN, oil firms, and multinationals also participating in the Nigerian Autonomous Foreign Exchange Market (NAFEM).…
Author: Editor Francis
Despite warnings by the Federal Government against crowd-funding for ransoms, the practice has continued to gain ground, with the abductees and their families raising funds from relatives, friends, and social media to secure the release of kidnapped victims. Families of abductees told newsmen on Sunday that they disregarded the government’s warning because they feared the victims might be killed or harmed if they failed to pay the ransom. In Ekiti State, pupils and teachers of the Apostolic Faith Group of Schools, Emure Ekiti, who were abducted last week, regained their freedom in the early hours of Sunday. Some parents and…
Chief Olusola Oke, a governorship aspirant in the All Progressives Congress (APC), in Ondo State, has officially declared his candidacy for the party’s ticket in the upcoming 2024 election. Oke, who has contested the gubernatorial seat three times previously, emphasized that 2024 has been divinely appointed for him to emerge as the governor of Ondo State. Having previously contested under the Peoples Democratic Party (PDP) in 2012 and later under the Alliance for Democracy (AD) in 2016, Oke faced a setback in 2020 when he lost the APC primary to the late former Governor Oluwarotimi Akeredolu. Undeterred by past challenges,…
The Nigerian Association of Resident Doctors (NARD) has issued a demand for the prompt payment of the N25,000 quarterly accoutrement allowance for medical and dental doctors working in federal public service hospitals, medical centres, and clinics. This call was made in a communique released by NARD following its January National Executive Council meeting and health summit held in Abuja from January 30 to February 3, 2024. The theme of the summit was “Attaining Universal Health Coverage and Optimal Medical Training in the Face of a Challenging Economy; Could Technology be the Answer?” In 2023, the Federal Government approved the payment…
The Agbekoya Society of Nigeria, a Yoruba farmers and hunters association, has urged the Federal Government to make provisions for arms and technologies for its members. It also urged the Federal Government to extend the gesture to the Oodua Peoples Congress (OPC) to help tackle security challenges in the Southwest. The Secretary General of Agbekoya worldwide, Dr Adegbenro Ogunlana, made this known in a statement in Lagos on Sunday. Ogunlana called for transparency in the installation of Obas and Baales in the Southwest. He said that this would help curb security challenges in the Southwest and the country. Ogunlana said…
Namibian President Hage Geingob died Sunday while receiving medical treatment, his office announced. He was 82. In a post on the social media platform X, formerly Twitter, the Namibian presidency said Geingob’s medical team at Lady Pohamba Hospital did its best to help him, but Geingob died with his wife, Monica Geingos, and children by his side. Geingob was undergoing treatment for cancer. The 82-year-old had a colonoscopy and a gastroscopy on Jan. 8, followed by a biopsy, his office said last month. Angolo Mbumba, Namibia’s acting president, called for calm, saying in the same post that the “Cabinet will…
The abducted pupils and staff of Apostolic Faith Group of Schools in Emure Ekiti have been successfully freed. The release occurred in the early hours of Sunday, providing a welcome resolution to the harrowing incident that unfolded on Monday evening. The victims were abducted while returning to Eporo from Emure – Eporo Road after school hours. The assailants, who had initially fired at the bus, abducted a total of nine individuals, including five students, three female teachers, and the driver. The Emure Ekiti government official confirmed the release of the abductees, stating that they are currently with their parents and…
Real estate investing is a way for making money by purchasing property and renting it out. You can buy a single property and rent it away yourself or else you can commit to real estate through funds, just like REITs, that purchase significant groups of properties or through online platforms that hook up investors with real estate projects. These strategies are popular with people seeking https://zip-real-estate.com/2021/07/08/generated-post-2/ to diversify their portfolios and grow riches over time. Much like any expense, there are earnings and risks to real estate investment. Before you choose of these ways to pursue, consider how hands-on you…
Whether it could be the planet The planet rotating around the sun or switch workers moving over between nights and times, it’s crystal clear our time is definitely shaped by a variety of spinning events. But there are many other folks that are less clear. For example , the Earth’s rotation speed fluctuates slightly. Therefore, a day may feel for a longer time or short. This is why the atomic clocks that preserve standardized period need to be changed occasionally. This kind of alter is known as a start second, and it occurs when the Earth moves faster or slower…
In response to the escalating insecurity in the nation, Mallam Nuhu Ribadu, the National Security Adviser to the President, has issued a directive prohibiting personnel of specific Para-Military Services from wearing camouflage uniforms with immediate effect. A reliable source within the security sector disclosed to Newsmen in Abuja on Saturday that Ribadu’s directive was conveyed in a circular dated January 16, 2024, and addressed to the Honorable Minister of Interior for comprehensive implementation. The circular, titled “Observation on Proliferation in the Use of Camouflage Uniforms by Other Security Agencies in Nigeria,” was personally signed by Mallam Nuhu Ribadu. The circular…
In a resounding triumph during Saturday’s by-election in Surulere Federal Constituency I, Lagos, Fuad Laguda of the All Progressives Congress (APC) clinched a landslide victory. Laguda’s main contenders, Adeola Adebanjo of the Labour Party and Jerry Afemighie of the Peoples Democratic Party, were unable to pose a substantial threat to his aspirations. The Returning Officer for the bye-election, Prof Simeon Adebayo, officially declared the results, revealing that the APC candidate secured an impressive 11,203 votes. The vacancy arose following the resignation of Femi Gbajabiamila, who assumed the role of Chief of Staff to President Bola Tinubu. The full results are…
The Federal Government has revised the exchange rate for the Nigeria Customs Service (NCS) for the importation of goods for the second time within a 24-hour period. Typically determined by the Central Bank of Nigeria (CBN), the exchange rate for Duty collection has seen significant fluctuations recently. As of the end of January, the importation exchange rate stood at N953 per dollar. However, on Friday morning, it was raised to N1,356 per dollar. Within a short span, the rate underwent another review, reaching N1,413.62 per dollar by Saturday morning. The constant changes in the exchange rate have triggered concerns and…