Naira
The naira rose at the official window on Monday after Central Bank of Nigeria Governor Olayemi Cardoso told investors that the apex bank was working to address the currency’s volatility.
The local currency rose by 1.09 percent to close at 1,419.86/$ at the official forex window, according to FMDQ data.
On Friday, the dollar sold for $1,435.53.
Remember that the naira fell sharply to an all-time low of 1482.57 /$ at the official window last week Tuesday, defying efforts by the central bank and the federal government to increase liquidity in the foreign exchange market.
However, the local currency has recovered following a series of policy decisions by the CBN.
Meanwhile, the naira did not fair much better on the parallel market, trading between 1,440/$ and 1,460 after the close of business on Monday, according to Bureau de Change operators.
On Friday, the naira concluded trading at 1,450/$ on the alternative forex market.
A BDC operator at the Sheraton Hotel in Abuja, told reporters that hoarders’ activities were causing the dollar to progressively gain ground against the naira.
In his words, “today, we sell dollars at 1455/$ but we are buying at 1,445/$,”
King Charles
On Monday, well-wishers prayed for King Charles III’s rapid recovery after he was diagnosed with cancer.
The monarch was diagnosed with a type of cancer and had began treatment, Buckingham Palace said in a statement on Monday, just a week after being released from the hospital for prostate surgery.
The palace further announced that doctors advised the king to postpone public appearances but would complete formal documentation.
His Majesty has begun a program of regular treatments, during which he has been advised by doctors to postpone public appearances. During this time, His Majesty will continue to conduct State business and official paperwork as usual,” according to a statement released by The Royal Family on X.
Police Comb Forest For Kidnapped Victims
The Kogi State Police Command has initiated a vigorous manhunt for the kidnappers of 14 Abuja-bound passengers on two separate luxury buses abducted in Inyenle Eteke, Ogugu, Olalamaboro Local Government Area of Kogi State.
Our correspondent learned that a social media personality broke the news on Sunday via his verified X profile, he revealed that the two buses belong to Good Is Good and ABC Transport.
He wrote on X that a family member of his was regrettably aboard one of the hijacked vehicles, but he did not know how many people were on the two busses.
“According to reports I received this morning, a GIG and ABC Transport bus bound for Abuja was stolen by kidnappers in Kogi State yesterday.
The GIG bus departed Umuahia at 7:30 a.m. and was hijacked in Kogi State. GIG Company stated that they had contacted security services and were tracking them. The kidnappers called this morning on my wife’s phone and demanded N15 million.”
When contacted by sources, the Kogi State Police Command confirmed the occurrence and stated that a search and rescue operation had been undertaken to rescue the victims, as well as a manhunt for the offenders.
SP William Aya, the command’s Public Relations Officer, stated that the region Commander who led his team to the region observed the two buses but not the occupants, therefore he could not determine the number of persons aboard the vehicles.
Power Grid
The national power grid steadied on Monday, with electricity generation ranging between 3,000 megawatts and 3,707.91MW between 1am and 8pm, following the grid’s collapse on Sunday.
According to The sources, power generation on the national grid fell to 59.9MW at 12pm on Sunday when the country’s system experienced a nationwide breakdown.
According to the report, electricity generation on the grid dropped from 2,658.75MW at 11 a.m. to 59.9MW at 12 p.m. on Sunday as power distributors lost supply from the system.
This resulted in widespread blackouts across the country, which electricity distribution firms blamed on the failure of the grid run by the Transmission Company of Nigeria, a Federal Government entity.
However, statistics acquired from TCN on grid performance on Monday evening revealed that the system had improved, with electricity generation at 1am at 3,157.28MW and rising to 3,637.03MW by 8.30pm the same day.
TCN said that the two transformers that were removed for upgrade late last year at its Benin Transmission Substation and Ihovbor Work Centre had been upgraded and energized.
According to the report, TCN finished and energized a new 100MVA 132/33kV power transformer at the 132kV Benin Transmission Substation on Saturday, while a 100MVA power transformer was activated at the Ihovbor Work Centre on January 29, 2024.
Osimhen Out Against SA
Victor Osimhen, a Super Eagles striker, may miss the 2023 Africa Cup of Nations (AFCON) semi-final against South Africa after failing to travel with the rest of the group from Abidjan to Bouake.
Nigeria will meet South Africa in the first semi-final of the competition on Wednesday in Bouake for a spot in Sunday’s final.
In a statement provided by the Super Eagles media team, Osimhen will be watched in Abijdan while the rest of the group move to Bouake, where they will face South Africa.
 | ReplyForwardAdd reaction |