Connect with us

News

Naira strengthens against dollar by 0.32%

Published

on

Naira strengthens against dollar by 0.32%

The Naira on Friday strengthened at the official market, trading at N1,251.05 to a dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N4.02.

This represents a 0.32 per cent gain when compared to the previous day’s trading on Thursday, exchanging at N1,255.07 to a dollar.

However, the total daily turnover increased to $248.27 million on Friday up from $138.99 million recorded on Thursday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,281 and N1,220 against the dollar.

Naira strengthens against dollar by 0.32%

Continue Reading
1 Comment

1 Comment

  1. Pingback: CBN Blacklist Fake Loan Apps, See Full List - Ochuwa24 News Media

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Lagos Market Clash: Unions threaten to cut tomato supply

Published

on

By

Lagos Market Clash: Unions threaten to cut tomato supply

The Tomato Crates Dealers Association of Nigeria has threatened to cut tomato supply to Lagos State over alleged destruction of its goods.

Its National Chairman, Alhaji Ahmed Alaramma, made the disclosure during a news briefing in Zaria on Sunday.

Alaramma is also the National Secretary of Amalgamated Union of Foodstuff and Cattle Dealers of Nigeria.

He said the clash at Ile-epo Market in Alimosho Local Government Area of Lagos State, which began on May 1, had caused the destruction of their investment in over 60,000 empty tomato crates.

Alaramma said that raffia basket was initially used for conveying tomatoes to the south, however, it caused more damages on the tomatoes, hence, the introduction of plastic crates.

“Over 70 members of the association rent out the crates to tomato dealers across the country; we have over 60,000 crates which were about to be returned to the north at the market during the turmoil.

“These crates were burnt by the ‘area boys’ during the clash and they prevented our people from quenching the fire.

“We have audio-visual and other proof supporting our claims,” the chairman said.

According to him, each empty crate costs N6,000; therefore, members lost over N360 million investment.

He appealed to the Federal Government, Lagos State Government and other relevant stakeholders to look into the issue and compensate the association, to cushion the effect of the damage.

Alaramma said that the association was already in touch with its legal team over available legal remedies, in the event of unfavourable responses from the government.

“If nothing is done, we will have no option than to cut supply of tomatoes to Lagos over this incident,” he said.

The News Agency of Nigeria (NAN) recalls that a section of Ile-epo Market was on Wednesday evening set on fire as hoodlums clashed leaving many people injured while some goods were destroyed in the process.

Lagos Market Clash: Unions threaten to cut tomato supply

Continue Reading

News

NDLEA intercepts 4,752kg of cannabis in Abuja

Published

on

By

NDLEA intercepts 4,752kg of cannabis in Abuja

NDLEA intercepts 4,752kg of cannabis in Abuja

The National Drug Law Enforcement Agency (NDLEA) has intercepted a 40-ft gas tanker marked RBC 77XG with 511 sacks of cannabis sativa weighing 4,752kg concealed in the gas tank compartment of the truck.

The Spokesperson for the agency, Mr Femi Babafemi, said this in a statement on Sunday in Abuja.

Babafemi said NDLEA operatives had intercepted the tanker during a stop and search operation along Abuja-Abaji highway on May 1.

He said the consignment was loaded into the tanker in Ondo State and was meant to be delivered in Abuja for further distribution.

Babafemi said the four suspects arrested in connection with the seizure were: Efe Mikel, 39, Ebigide Cyril, 29, Ejechi Monday, 41 and Friday Chukwudi 39.

In another development, two suspects, Aminu Umar 25, and Anas Umar, 22, were arrested with 207.1 kilograms of cannabis sativa in their houses at Ungwan Rimi, Basawa, Samaru, Zaria, Kaduna State on April 29.

Also, Bashir Umar, 35, was nabbed at Ladanai, Hotoro area of Kano State, on May 3, with 194 bottles of codeine syrup.

In the same vein, in Osun, NDLEA operatives on May 1, arrested 51-year-old Suleiman Usman, an ex-convict, currently facing trial for another drug offence at the Federal High Court, Osogbo.

Babafemi added that at the time of his latest arrest at Okinni town, Suleiman was found in possession of 4.4grams of Cocaine, 28.5kg of cannabis sativa, 20 tabs of rophynol weighing 6.2grams and 812 pills of tramadol.

“The following day, May 2, NDLEA operatives at Agbara checkpoint, Seme border, Badagry Lagos, intercepted a Toyota camry car marked KJA 825 FT conveying 113 jumbo parcels of cannabis with a total weight of 64kg.

“The driver, Charles Amoni, 45, was promptly arrested,“ he said.

Also, in Bauchi State, NDLEA operatives on patrol along Bauchi-Jos road on April 29, arrested Clement Chukwuka, 39, with 595 bottles of codeine; 38,260 pills of opioids such as tramadol, rohypnol and diazepam.

Babafemi said another suspect, Friday Ibochi, was nabbed at NDLEA check point, Aloma junction, Otukpa, Benue, on April 30, with 66 blocks of cannabis weighing 33kg.

In the same vein, a 42-year-old Ifeanyi Stanley, was arrested with 12kg of same substance at Swali Jetty, Yenagoa, Bayelsa.

NDLEA intercepts 4,752kg of cannabis in Abuja

Continue Reading

National

NERC unbundles TCN, establishes new system operator 

Published

on

By

NERC unbundles TCN, establishes new system operator 

NERC unbundles TCN, establishes new system operator 

The Nigerian Electricity Regulatory Commission (NERC),  has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO)

The company disclosed  this in an order signed by its Chairman, Mr Sanusi Garba and Mr Muslim Oseni, Vice Chairman in Abuja on Saturday.

According to the order,  TCN will transfer all market and system operation functions to the newly formed NISO.

The company said that this is in line with the provisions of the Electricity Act 2023, which provides clearer guidelines for the incorporation and licensing of the independent system operator (ISO).

It said that previously, TCN held Transmission Service Provider (TSP) and System Operations (SO) licences issued by NERC.

”With the establishment of NISO, TCN will now transfer its assets and liabilities related to market and system operations to the new entity.

According to the order, the Bureau of Public Enterprises (BPE) has been directed to incorporate a private company limited by shares under the Companies and Allied Matters Act (CAMA) by May 31.

”This new company, to be named the Nigerian Independent System Operator of Nigeria Limited (NISO), will assume the market and system operation functions as specified in the Electricity Act and the terms of TCN’s system operation licence,”It said.

The company  outlined NISO’s responsibilities to include  managing assets and liabilities related to market, and system operation on behalf of market participants and consumer groups.

”The new ISO will also negotiate contracts for ancillary services with independent power producers and generation licensees.

”In addition to performing market and system operation functions for the benefit of market participants and system users”It said.

NERC unbundles TCN, establishes new system operator 

Continue Reading
Advertisement

Trending

Verified by MonsterInsights