The Central Bank of Nigeria said it sold $543.6 million to authorized dealer banks at the Nigerian Foreign Exchange Market between 06 and 30 September 2024. CBN disclosed this in a statement at the weekend detailing the breakdown of the FX interventions. According to the statement signed by CBN Director of Financial Marketers Departments, Omolara Duke, the FX sales conducted during the period under review was to reduce the FX volatility driven by demand high for commodity importations and seasonal demand. The apex bank noted that FX was sold between N1530 and N1580 per dollar rate to legible dealer banks…
Author:
Read More
The newly crowned Asagba of Asaba, His Royal Majesty, Obi (Prof) Epiphany Azinge, SAN, has warned that he is open to advice and constructive criticism but will not entertain palace gossip under any circumstance. At an elaborate coronation ceremony on Saturday, the Ochendo Asagba (Regent), Engr. Louis Edozien, transferred the staff of office, symbolising the mantle of leadership, through the Onihe of Asaba, Chief Ubaka Atu, to the newly installed monarch. Amid cheers from the crowd, Obi Azinge paid tribute to the late Asagba, describing his vision as “matchless” and asserting that his leadership would build on the foundation laid…
Governor of Delta State, Hon. Sheriff Oborevwori has challenged teachers to continuously upgrade their knowledge and teaching skills. He gave the charge on Saturday while speaking at this year’s celebration of Teachers’ Day held in Asaba. The governor was represented at the occasion by his Deputy, Sir Monday Onyeme. “Teachers and educationists must continuously upgrade their knowledge and teaching skills and adapt to changing situations very quickly. “The role of the teachers in nation building cannot be over emphasised; a nation is built by its citizens; citizens are taught, trained and moulded by teachers. “It is the teacher’s responsibility to…
Chairman, Nigeria Labour Congress, NLC, in Kwara State, Comrade Murtala Olayinka, has said efforts are ongoing with other stakeholders to ensure implementation of the new minimum wage. Speaking at the World Teachers Day in Ilorin, Comrade Murtala disclosed that the committee constituted by the state government on minimum wage was working round the clock towards ensuring that the policy was implemented. “I urge teachers in the state to exercise patience, at the end of the day, we will come out with something tangible that will make everybody smile,” he added. In his speech, state chairman of Nigeria Union of Teachers,…
Manchester United assistant coach, Ruud van Nistelrooy is having doubts about replacing Erik ten Hag at the Premier League, Goal reports. Van Nistelrooy is the leading candidate to replace his compatriot who is under pressure, but he has reservations about stepping into the role. Ten Hag brought the former PSV manager in this summer as he made his changes to his coaching crew. However, with Ten Hag under pressure after the Red Devils lost three of their first six Premier League fixtures, Van Nistelrooy is being touted as his replacement. It was reported this week that Ten Hag has one…
Real Madrid duo of Vinicius Jr and Dani Carvajal suffered injuries in their win over Villarreal on Saturday. The LaLiga champions won 2-0, thanks to goals from Federico Valverde and Vinicius. But the Brazilian winger came off holding his shoulder shortly after scoring. Moments later, Carvajal was stretchered off with a serious knee injury. Speaking after the game, Madrid manager Carlo Ancelotti said: “Dani Carvajal has suffered a serious knee injury. We’re all very sad.” On Vinicius, he added: “Vinicius Jr is in pain and will undergo tests in the next hours. “His neck is blocked, he has suffered a…
There is currently no end in sight to the political crisis rocking Rivers State. This is as the local government election conducted by the Rivers State Independent Electoral Commission, RSIEC, has apparently triggered more crises in the state. DAILY POST reports that despite opposition from the loyalists of Nyesom Wike, the Minister of the Federal Capital Territory, FCT, the election was conducted on Saturday as directed by Governor Siminalayi Fubara. Wike’s loyalists in the Peoples Democratic Party, PDP, and a faction of the All Progressives Congress, APC, had vowed to boycott the election, citing a judgement by the Federal High…
Good morning! Here is today’s summary from Nigerian Newspapers: 1. Governor Siminalayi Fubara of Rivers State has regained control of the local government structure as his loyalists who contested elections under the Action Peoples Party have won all but one of the 23 chairmanship positions. Chief Election Officer of the Rivers State Independent Electoral Commission, Justice Adolphus Enebeli, declared the result in Port Harcourt, the state capital, on Saturday night. 2. Governor Umo Eno of Akwa Ibom State on Saturday appointed his daughter to replace his late wife as First Lady. The governor made the announcement during a condolence visit…
Petroleum Marketers have said that Nigerians expect transparency from the Federal Government on the Naira-for-crude sales deal with Dangote Refinery. Billy Gillis-Harry, the President of the Petroleum Products Retail Outlets Owners Association, PETROAN, disclosed this, weekend, in an interview with DAILY POST. According to him, Nigerians expect that the deal will eventually lead to a reduction in the pump price of Premium Motor Spirit in the country. His comments come as the Nigerian government said it has begun the Naira-for-crude sale to Dangote Refinery from October 1, 2024. DAILY POST reports that the Minister of Finance, Wale Edun in a…
The Naira lost N89.27 against the dollar at the official foreign exchange market in the first week of October 2024. This comes as the Naira ended the week at N1631.21 per dollar from N1541.94 exchange rate on September 30, 2024. This showed that the Naira had weakened by a significant N89.27 against the dollar. Further analysis showed that the Naira, despite recording mixed sentiments of gains and losses at the official FX market in the period under review, has predominantly depreciated. Meanwhile, at the black market, the Naira gained N30 to close the week at N1,670 per dollar compared to…