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Naira Plummets Further, Hits Over ₦1,500 Against Dollar

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Naira Plummets Further, Hits Over ₦1,500 Against Dollar
The Nigerian currency, the naira, faced another significant devaluation against the US dollar on Monday, continuing its downward trend in the foreign exchange market.....KINDLY READ THE FULL STORY HERE▶

Reports from both the parallel market and the FMDQ revealed a substantial depreciation of the naira. In the parallel market, the naira was traded as high as ₦1,517 per dollar earlier in the day, settling at ₦1,500 per dollar by evening. This marked a notable increase from the ₦1,450 per dollar rate observed over the weekend.

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Meanwhile, in the official market, data from the FMDQ showed the naira falling to ₦1478.11 per dollar on Monday, down from ₦1466.31 the previous Friday, representing a decline of ₦11.8.

Speculations about an impending crackdown by the Economic and Financial Crimes Commission (EFCC) reportedly contributed to the fluctuations in the parallel market.

Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated the Monetary Policy Committee’s commitment to addressing the country’s soaring inflation rate, which stood at 33.22% in March 2024.

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The persistent devaluation of the naira underscores ongoing economic challenges and highlights the difficulties faced by Nigeria’s financial regulators in stabilizing the currency and controlling inflation.

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Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.

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A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The demonstrators reportedly gathered outside the parliamentary complex, expressing dissatisfaction with the leadership of the electoral body in Nigeria and demanding immediate action.

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They insisted that the INEC chairman should be removed, alleging concerns over credibility and trust in the electoral process as the country prepares for the next election cycle.

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The protest drew attention from passersby and security personnel, as the group maintained their position that electoral reforms and leadership changes were necessary to restore public confidence.

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“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.

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Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶

In a firm reaction to recent criticism linked to Vaniti, he stated that people are focusing too much on his nightlife businesses while ignoring other aspects of his work and achievements.

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He stressed that his nightclub operations do not define his entire identity or professional portfolio, adding that he is involved in several other ventures beyond entertainment and hospitality.

According to him, the criticism reflects a narrow perception of what he does, and he believes his broader contributions are being overlooked.

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Sir Uyi maintained that he remains focused on his various commitments despite public scrutiny surrounding his nightlife business interests.

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Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.

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The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶

The victims, which included candidates of the Joint Admissions and Matriculation Board (JAMB) heading to Otukpo for their examinations, have all been successfully rescued.

Speaking while briefing Governor Hyacinth Alia in Makurdi during the presentation of the freed victims, the Commissioner of Police, Ifeanyi Emenari, said the rescue operation was achieved through coordinated efforts of multiple security agencies.

He explained that five of the abducted passengers were first released, while the remaining 13 were rescued on Sunday morning without injuries.

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According to him, the combined pressure from security forces, supported by the state government and the Inspector-General of Police, led to the successful outcome of the operation.

Emenari further disclosed that eight suspects are currently in custody, adding that seven of them are strongly linked to the kidnapping incident, with some victims already identifying them.

He also noted that clearance operations have begun across forest areas in the state to flush out criminal groups, in line with directives from security authorities.

Governor Hyacinth Alia, while receiving the rescued passengers, expressed concern over rising cases of kidnapping in the state but welcomed the safe return of all 18 victims.

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He confirmed that among those rescued were eight candidates on their way to write examinations, and called on the Joint Admissions and Matriculation Board (JAMB) to reschedule the affected exams for them.

The governor assured that the state government remains committed to supporting the victims and strengthening security across Benue State, while also urging residents to provide credible information to security agencies.

He further directed the state health authorities to conduct medical evaluations for all rescued persons and promised government support for those affected.

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